LeoFinance

Gold Continues To Climb

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avatar of @handofzara
2 months ago - 1 minutes read

Screenshot 2023-03-23 at 17-18-36 Gold Futures Price - Investing.com.png

Gold continues to climb higher, acting more and more as money. The banks in America, especially smaller regional banks continue to have a problem with withdraws and with "unrealized losses" especially those associated with Commercial Loans.

It seems that more and more Americans are coming to the realization that if you do not hold it in your hands then you do not own it.

Screenshot 2023-03-23 at 17-23-51 Curious Question Cat Meme Generator - Imgflip.png

As many of you may know silver is my favorite asset, however I remain NEUTRAL on the price action these days.

Screenshot 2023-03-23 at 17-19-19 Silver Futures Price - Investing.com.png

If silver can break out above the prior HIGHS around $24.80 per ounce on a sustained basis then I will move over into the BULL camp. Until then I remain NEUTRAL on Silver for trading purposes.

For stacking purpose I am always in favor of adding to the stack.

Screenshot 2023-03-23 at 17-19-54 NYSE ARCA GOLD BUGS INDEX (^HUI) Charts Data & News - Yahoo Finance.png

The mining stocks have yet to regain an UPTREND and therefore like silver, I remain NEUTRAl on the mining stocks. The HUI is showing a similar pattern as silver, and needs to take out those recent HIGHS at 267 on a sustained basis to regain an UPTREND.

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Peace Out and Stack On!

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