Gold & Silver Start Their Year-End Bullish Rally

CLICK HERE FOR NEW Morgan Silver Dollars

CLICK HERE FOR NEW Peace Silver Dollars

CLICK HERE FOR NEW $20 Gold Saint Gaudens

	Central Banks Resume Gold Buying In October
	Following two consecutive months of net sales, central banks resumed buying. . . .Krishan Gopaul - Market Intelligence Group, World Gold Council
	Silver Forecast: Market Has Explosive Session
	Silver markets rallied significantly during the trading session on Tuesday, reaching towards the 50-day EMA. . . . Christopher Lewis
	Gold Rises On Stimulus Bets, Subdued Dollar
	Gold firmed near an over one-week high on Wednesday as prospects of a U.S. coronavirus relief package reinforced its appeal as a hedge against likely inflation. . . . Shreyansi Singh
	Global Inflation Watch
	This article posits that fiat currencies are on the path to hyperinflation. . . . Alasdair Macleod
	Gold To $2,500: Citi’s Bullish Call For 2021
	Citigroup in recent weeks came out with a $2,500 price target on the yellow metal for 2021, comparing its mosaic . . . .Lizzy Gurdus
	JPMorgan Dominates Gold Market With Record $1 Billion Precious Metals Revenue
	JPMorgan has earned record revenue of around $1 billion so far this year from trading, storing . . . .Peter Hobson - Reuters

December started with both Gold and Silver back on their bullish track. With a good chance of a $908 billion COVID-19 aid stimulus legislation being passed this week and a continued weak U.S. dollar, Gold should continue to move higher.

Based on other European and Asian countries’ economies recovering from the COVID pandemic at a much faster rate than the U.S., the U.S. dollar is dropping. The U.S. dollar dropped from 91.87 on Friday, November 30 to a low of 90.50 on December 4. Since the COVID numbers in the United States continue to get worse, I expect to see the U.S. dollar drop below 90 this coming week. Combined with the passage of the second COVID stimulus legislation of $908 billion, Gold should break above the $1,900 resistance level and be well on its way back to $2,000 per ounce.

Why is Gold heading much higher? President-elect Biden has already stated that this $908 billion aid package is only the start of much larger COVID aid legislation. With other European and Asian governments printing massive amounts of currency for COVID aid funding, the Gold price is heading to record all-time highs by early 2021.

There is optimism with the coronavirus vaccines coming later this month. The real problem is that the latest round of shutdowns and stay-at-home orders in the U.S. This is going to increase the unemployment numbers and devastate the U.S. economy in the coming months. The number of people who have been unemployed long-term is still rising, over 10 million, and headed higher. Plus, cities and states, due to budget deficits, are laying off workers, firemen, police officers, teachers, and other workers. Many economists believe that the U.S. economy will not be back to normal until 2022.

Today: After reaching a low of $1,821 per ounce in overnight Asian and early European trading, Gold found fresh buying and quickly broke above the $1,850 level. After breaking $1,850, traders started covering their short-sales and the rally continued to above $1,865 per ounce. Reports that Congress is getting closer to the passage of a $908 billion COVID stimulus bill has been helpful to the Gold rally.

After Silver suffered a sell-off two weeks ago, dropping $1.81 (7.43%), last week Silver rallied $1.70 to close at $24.24 per ounce on Friday. As the primary world mints get ready for minting 2021 coinage, we are finding that many of the popular Silver investment items are in short supply. After last week’s sizeable rally in the spot Silver price, the Silver-to-Gold ratio dropped to 75.87-to-1.

Today: Silver followed Gold lower in early trading, hitting $23.60 per ounce, before rallying. After Gold broke above $1,850, Silver moved above $24.50 per ounce. Last Monday, Silver reached a low of $21.96 and has rallied over $2.60 since that low.