Today, Thursday, January 29th, the gold price and the silver price made bulish outside reversal days.
The good 'ol ship USS dollar:
And what are other countries' fiat tokens backed by? "full faith and credit" and to a large extent US dollars and US dollar denominated debt as reserves, the US dollar being the world's reserve currency and all that "rag time" since the US dollar is not anywhere near what it used to be. So what happens to other countries' fiat tokens when the US dollar goes ***down***, breaks up?
Tidbit from LeMetropoleCafe
It's unreal how on the daily trading charts, lately, as soon as gold starts to make a strong move, the euro gets SMASHED. It's like they have run out of ammo and manipulating the fx market is the only way to try to keep gold under wraps. This daily struggle is wild. Gold just really seems to WANT to go up. There seem to be big buyers under the market. That's why these guys like Mark Hulbert etc with all their proprietary 'models' etc just don't get it. If gold is being sought as an alternative CURRENCY, then all bets are off as far as technicals, contrariness, overbought ratios and on and on. People around the world are ....TERRIFIED about their finances and the possibility of social disintegration. Thus a rush to gold. As much as western governments have tried to kill gold as an investment asset class, people still go to it when they are afraid.
We are in some mess here.
Buzz has it nailed here. Gold and silver have been really trading on their own of late, which is just what MIDAS has been saying would occur for as long as I can remember. The key to the gold/silver markets is physical market buying overpowering the cabal’s ability to feed available central bank supply to meet growing demand … not what the dollar does.
What we are seeing now is very exciting in that the biggest money in the world is coming our way. They now realize (finally) what kind of financial/economic market catastrophe is staring everyone in the face … and they know desperate governments, especially the US, are going to debase their currencies … so the GO TO investments are, and will be, gold and silver. We are close to spectacular fireworks price action-wise.
On top of the bullish outside reversal days, gold's two price gaps in the 2nd week of January may be break-a-way gaps, never to get closed, the start of a powerful move upwards. Same goes for silver's price gap in the same week.