Gold Up To $2,850 Per Troy Ounce

[Thunk]

Gold was up yesterday...and up even more today. Up over $50 today.

Why?

Did a war break out some place? Did a large government (or a few central banks) buy a whole lot of physical gold?

I have to admit I have an eyebrow raised at these price moves.

 

[1srelluc]

AI is coming after it....And I'm only half kidding.

We are entering a whole new world now.

 

[Natural Citizen]

Relevant reading...

https://www.bloomberg.com/news/artic...old-in-london/

https://www.reuters.com/world/uk/london-gold-market-queues-up-borrow-central-bank-gold-after-big-shipments-us-2025-01-29/

It was over 3800 this morning...

 

[Freddi00]

Honestly, I'm not sure about a war or anything major happening right now, but these fluctuations could be tied to global economic shifts or even some big market moves.

 

[Natural Citizen]

Honestly, I'm not sure about a war or anything major happening right now, but these fluctuations could be tied to global economic shifts or even some big market moves.

Maybe just shenanigans...

Naked Short Selling: What Is It, and How Might It Impact Gold Markets?

Delve into naked short selling, its influence on markets, and its speculated role in gold pricing. Understand its legality and controversies.

goldiraguide.org

 

[sparky]

Relevant reading...

https://www.bloomberg.com/news/artic...old-in-london/

https://www.reuters.com/world/uk/london-gold-market-queues-up-borrow-central-bank-gold-after-big-shipments-us-2025-01-29/

It was over 3800 this morning...

"We are not in the gold standard anymore, it doesn't have significance for policy in that sense," Bailey replied, referring to an extinct monetary system where gold backed the value of a currency.


So what does it matter who valuates it????? ~S~

 

[Natural Citizen]

"We are not in the gold standard anymore, it doesn't have significance for policy in that sense," Bailey replied, referring to an extinct monetary system where gold backed the value of a currency.


So what does it matter who valuates it????? ~S~

It doesn't.

Like anything else one buys, all that really matters is what it's worth to you.

 

[whitehall]

Silver is up to almost $32 and is still a good buy.

 

[Crepitus]

Gold was up yesterday...and up even more today. Up over $50 today.

Why?

Did a war break out some place? Did a large government (or a few central banks) buy a whole lot of physical gold?

I have to admit I have an eyebrow raised at these price moves.

Pending economic disasters always raise the price of gold.

You know this.

 

[Thunk]

Pending economic disasters always raise the price of gold.

You know this.

So what pending economic disaster is on the way?

 

[Crepitus]

So what pending economic disaster is on the way?

Don't pretend you don't know.

 

[Thunk]

Relevant reading...

Thunk you for linking those articles!!!

London gold market queues up to borrow central bank gold after big shipments to US, sources say



Summary
Companies

CME gold stocks rose by 12.2 mln oz, or 70% over two months
Deliveries to NY tightened London gold market free float
London bullion market seeks to borrow gold from central banks
Ripple effects felt in other gold hubs after CME deliveries


LONDON, Jan 29 (Reuters) - London bullion market players are racing to borrow gold from central banks, which store bullion in London, following a surge in gold deliveries to the United States on speculation of potential import tariffs there, two sources familiar with the matter said.
The minimum waiting time to load gold out of the Bank of England, which stores gold for central banks, has reached four weeks, one of the sources said. In normal times, the release time is a few days or a week.

(snip)

Over the last two months, 12.2 million troy ounces of gold were delivered to COMEX-approved warehouses , raising stocks there by 70% to 29.8 million ounces, the highest since August 2022.


https://www.reuters.com/world/uk/lo...-bank-gold-after-big-shipments-us-2025-01-29/

So that's roughly 35 Billion dollars worth of physical gold moving into the USA...

Why?

They blame fear of the Trump Tariffs...I'm not buying that.

 

[22lcidw]

"We are not in the gold standard anymore, it doesn't have significance for policy in that sense," Bailey replied, referring to an extinct monetary system where gold backed the value of a currency.


So what does it matter who valuates it????? ~S~

There are people who believe that the price of gold and silver is manipulated and kept lower on purpose. For all of the world debts they should be higher. Even so, the metals have been rising.

 

[sparky]

There are people who believe that the price of gold and silver is manipulated and kept lower on purpose. For all of the world debts they should be higher. Even so, the metals have been rising.

manipulated being somewhat the key term 22......~S~

 

[luiza]

Gold was up yesterday...and up even more today. Up over $50 today.

.

Crikey . You have been Time Travelling.

It is up to $2800 right now and presumably another $50 tomorrow as you seem to have been there already .

Three articles in Zero Hedge now .Excellent reads .

It will retreat short term when the dollar collapses but I have been a buyer since 2019 and long term it will fly to the Moon .

 

[sparky]

Three articles in Zero Hedge now .Excellent reads .

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~S~