On the 5 last trading days of 2021, many a gold bug got his wish. As it turns out, Friday's setting of $1831 an ounce was a stand out number. At a 5 day gain of 20 points it was ranked at number 11. Number 11 for what? Number 11 of 18 final rally years in the 21st century. In a year when investors and traders are hankering for profits, a rise in gold price can only bring a smile and hopes for more action in 2022.
Given prognostications of the past few years, some negative nabobs of negativism will claim this is nothing to hoot about. However, as there is frequently a silver lining, this boost may presage a healthy rise in gold price. Especially as many an expert (I use that word carefully) anticipates a global financial reset this year.
In the interest of balance, recall that manipulation of precious metals has been a topic of the times. Institutions with a large exposure to the shiny gold metal can be expected to pull the plug out vis-à-vis the gold price squeeze. As long as fiat money is of import, this will continue, we can be sure. So don't be surprised if the price scrapes its belly on the pavement shortly. But as you have seen short term, it only works for a relatively short while.
Happy New Year 2022! Oh, and in case you are confused, this is no way to be construed as investment advice. Consult a licensed professional advisor for that. Please.
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