Ira Epstein discusses the current state of the metal markets, highlighting the unusual behavior of gold, which has reached $4,014 despite a stronger dollar.
Gold and silver are rising amid the U.S. government shutdown. Sustained gains will depend on increased investment in bullion-backed ETFs, which grew by 111 tons (3.8%) last month...
As long as we continue to have tensions and uncertainty, gold is where one should be. Yes, overbought and corrections, even sharp ones can occur, but overall, we continue to look higher.
I think a lot of metals analysts are expecting an intermediate top in gold at $4000 and an intermediate top and silver at $50. I'm of the opinion that the rally may go further than that.
Indian demand and Chinese demand will likely disappear by November 7 at the latest. Thereafter, gold and silver demand will be there only if there is a significant price correction.
Regardless of the increasing supply of the yellow metal, M2 today is +1,293% of what ’twas back in 1980 and thus is the primary debasing driver of Gold.
