GOLD & SILVER RALLY – GOLD HITS NEW ALL-TIME HIGH OF $2,685

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	It Could Be Time for Silver to Shine Next to Gold
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	Gold Is Actually Starting Its Second Rally $3,000 Is Not Far Away
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	Goldman Commodity Traders: Gold Buying On Our Desk Has Been Relentless, And Silver Is Starting To Move Too
	Something remarkable happened to the price of gold back in early 2022 around the time of the Ukraine war... Tyler Durden
	Silver Surges by 5%, Gold Hits Another Historic Record High
	Gold reached a historic high of $2,657 on Tuesday, fueled by rising geopolitical tensions, expectations of U.S. Federal Reserve rate cuts, and weak U.S. economic data.... Arslan Butt
	China Unleashes Stimulus Blitz To Hit Annual Growth Goal
	China’s central bank unleashed a blitz of policy support for the economy, as policymakers made their broadest swing to hit this year’s annual growth target of about 5 per cent... Bloomberg News

Last week was another great one for precious metal investors and collectors. Gold made a new all-time high 3 out of 5 days and reached a new All-Time record high of $2,685 and closed Friday at $2,660, up $36 for the week.

During last week, I received numerous calls from clients who purchased precious metals from me within the past 50 years. They all had the same question, “Is It Time to Sell?” My answer was, if your precious metal holdings exceed 40% of your investment holdings (stocks, real estate, savings account, T-Bills, and IRAs), maybe lighten up a little. But over 90% of the callers said, “No”. So, I recommended that unless they had a better use for the money, to keep holding and enjoy the ride.

The major issue last week that moved the Gold price was the Chinese central bank announcing on Tuesday an unprecedented economic stimulus package. These changes will put over 10 trillion Yuan into the economy and help the struggling real estate market and Chinese stock investors. This news, combined with the ongoing Middle East and Ukraine/Russian wars, drove the Gold price up $25 per ounce to a new all-time high by the time London and U.S. trading started.

I believe we will see Gold establish a firm base above the key $2,600 per ounce level at least until mid-October. During that time, Gold could test that base, but I believe it will hold. I then predict Gold to move higher, reaching $2,800 or greater before year-end. However, with the wars, the incoming lowering of the U.S. interest rates, increased Chinese demand, and the upcoming election, Gold could hit $2,800 sooner and $3,000 early next year.

The Goldman Sachs trader article shown above does a great job on explaining the recent rally.

Today: For most of last night's overnight trading in Asia, the Middle East, and London, Gold stayed between $2,630 and $2,660 per ounce, continuing to build a strong base. As trading rounded down in London, Gold reached a low of $2,630 as it opened in New York.

Silver also had a fine September, up $3.47 per ounce (12.2%), closing at $31.51 per ounce.
A combination of the Chinese central bank’s new stimulus package and a sizeable increase in Silver demand, driven by their solar panel industry, contributed to Silver’s rise. With Gold staying above $2,650 per ounce, Silver should move back above $32 in October.

Today: As the Gold price showed weakness in London and New York, Silver briefly broke below the $31 per ounce level and quickly recovered. Silver should hopefully trade between $31 and $32 per ounce, consolidating recent gains that week.

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