Comex ready to blow up again! Time to load up on Gold & Silver Equities!!
My fellow Steemians,
The gold & silver price closed significantly higher yesterday. With gold at $1949.66 and silver at $25.16.
There are several catalyst that could catapult these precious metals a lot higher.
-Earnings season for the miners: with gold about $400 higher since March 2020, the miners are going to have fantastic results
-JP Morgan has cornered the silver market, along side another entity.
-China is buying a lot of the supply
-European and Asian banks are buying PM
-Central banks are buying PM
-PM are bought at huge premiums
-There is almost no physical available
-The Comex is raded to get a hold on the physical metal trough their EFP (exchange for physical) futures contracts. It blew up on March 23 and is ready to blow up again.
-Strong seasonal influence in December and January
-Banks are short PM and are trying to smash down the price trough the futures markets, but are failing: possible short squeeze in the making!
Here below you have must see interview with Adrew Maguire who touches on some of the points above:
IMHO this is the time to load up on mining stocks, due to the leverage they provide. After consolidating the last 3 months the PM are ready for there next leg up!
Personally I am all in!! The next few years will be very interesting.
Invest prudently ;-)
Thank you for reading!