I hope you all took advantage of the low gold prices for the last few months and stacked it with both hands, because that’s not likely to repeat. 😊

There’s been lots of hype about silver lately but silver was actually holding its price better than gold in the said period, so I was primarily buying gold, because I didn’t really hope to see it at those prices anymore. I actually bought a significant amount right before it fell off a cliff, because I thought it was going up from there and had it wrong, so I’m happy to see it back at those levels; it’s not fun to be in the red. I did buy some silver, too, because it actually might respond to one of those “silver crunch” attempts and I wanted to have enough to matter.

We’re approaching Basel III deadline when the banks will be obliged to demonstrate that they have 100% physical coverage of paper gold, which would in theory end the main method of manipulation of the gold market. I’ll believe it when I see it. Also, considering how fast the money printer is going brrrrr, the precious metal prices are obviously suppressed, because everything else is growing faster than they are. This suppression can’t go on indefinitely, though, and when it pops, it will go really high. At the same time, I expect American stock market and the crypto market to go completely to shit, because it’s all speculative without any underlying value.

The banks look as if they are really struggling, and I don’t know how long they can be propped up, and at what cost. In any case, I wouldn’t keep significant amounts there.