Gold Soars Through $1,900, While Silver Stays Above $28

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	In Gold We Trust Report 2021
	In our view, the inflation pendulum has finally swung back. . . .Incrementum
	China, India Buying Adds Support To Bullish Gold Narrative
	Gold appears to be getting a boost from renewed interest from the top two physical buyers, China and India. . . .Clyde Russel
	Institutions May Be Dropping Bitcoin for Gold As BTC Slips Below $40,000: JP Morgan
	Analysts of top bank JP Morgan believe that institutions might be pivoting back to gold from Bitcoin but Bloomberg’s top expert reckons BTC will keep barring XAU’s rise . . . . Yuri Molchan
	We Need to Ban Cryptocurrency to Fight Ransomware
	Attacks On Bitcoin And Cryptos In General Pick Up Steam . . . . Lee Reinersporter
	Gold Vaults Above $1,900 First Time In 20 Weeks
	Gold hit $1,900 highs on Tuesday for the first time in 20 weeks as retreating U.S. bond yields and the dollar helped the yellow metal reach a pivotal point. . . . Barani Krishnan
	Russian Govt Gives Go-Ahead For Piling of National Wealth Fund Into Gold Bullion
	The National Wealth Fund (NWF) has received the green light to diversify assets by investing in gold as the country’s Prime Minister Mikhail Mishustin signed the relevant order on Friday

The Gold rally continues, hitting a high of $1,917 per ounce last night. What is causing the current Gold rally? Other than the many fundamental reasons, it is caused by strong indications of increased inflation being reported on a global basis. All those trillions of Dollars, Yuan, Euro and Yen are doing exactly what was anticipated. Plus, interest rates and the value of the U.S. Dollar have stayed stagnant in May. Gold traded above and below the key $1,900 level all last week, from a low of $1,873 to a high of $1,913. Gold closed last Friday at $1,902, up $26 for the week, and up $135 (7.6%) for the month of May.

I have provided a link to the “In Gold we Trust” Report above. I recommend taking the time to read it.

What’s Next? I believe Gold will test the $1,900 level for a few more days, then will establish a new trading range between $1,900 and $1,954 per ounce (the 2021 high). The longer Gold can consolidate its recent gains and build that base, the longer this rally will continue. The summer months can be exciting. Last year Gold reached its high of $2,090 per ounce on August 7th. This could be your last chance to increase your Gold holdings before we see Gold make new highs.

Today: In overnight trading Gold reached a high of $1,917 per ounce, then we saw the normal profit taking on an interest rate increase, as the markets rolled in the US After Gold hit a low of $1,891, the buyers came back and Gold rallied back above $1,900 per ounce.

Silver closed on Friday at $28.02 per ounce, up $0.54 for the week and up a whopping $2.14 (8.3%) since the start of May. Silver already reached a high of $28.90 on May 18th before seeing profit taking, causing it to drop to $27.26 before finding serious buying. I believe Silver is definitely on its way to $30 per ounce before the end of June. Plus, last year Silver reached its high of $29.92 on August 7th.

Today: Silver had a much larger trading range than Gold, trading between $27.92 to $28.69 per ounce in overnight trading. We should see Silver establish a new trading range between $28 and $29 as Gold stays below $1,930 per ounce.

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