gold news

 Hello everyone, welcome to Baldu Guy Money and I am seeing a growing group of people online both on X and on YouTube saying that gold and silver are making technical topping patterns and suggesting that neither metal will make a new high for years. And as you can see from the posts on the screen now, what they are suggesting is the big boys, as Blue Bull put it, have taken profits. buyers are now buying the climax and we have put in a top very similar to the one we saw in 1980. Now what you should

know is not everything these people are saying is completely incorrect and I have said myself that I expect a short-term pullback for gold and silver to the ranges shown on the screen now which we've already seen by the way happen for gold. But another thing you need to know about the noise being made about gold and silver online is that a lot of it is being made by Bitcoin maxis who want gold and silver to crash because they think it will trigger the next great move up for Bitcoin which has

essentially traded sideways since mid December of last year. Now I'm not here to hate on Bitcoin or anything else for that matter. In fact, and please be kind to me in the comments section. I own a little bit of Bitcoin and I've owned it for a long time. That said, this group of crypto fanatics is spreading fear about what's happening with gold and silver. Not because they care about the truth or they have some great insights that they'd like to share with people, but because they are emotionally

invested in crypto and Bitcoin. and it has some people in my community like TB who this video is for a bit confused as to what's going on. So, in this video to clear up what I think is a lot of bad information being spread about gold and silver online, I want to talk about why they are right about short-term pressure remaining on gold and silver prices, at least for the month of November. Then I want to address what I think it is they've gotten wrong, using past examples where these people have said

the exact same things about gold and silver using the exact same terminology to show you all why they were wrong in the past and why these technical analysts are going to be wrong again. And to finish, I will reveal as a conclusion to this analysis what asset it is I am selling and why I think you should also consider taking profit at this point too. Now, just before we dive in, please check out summitmetals.com for great prices, especially on gold, American Eagles, and silver philarmonic coins, which I think are great buys

right now. And remember, if you're on a budget, you can get this great gold wallet, which now holds a full ounce of 1/10enth ounce gold coins. And I think this is a great tool to help you set stacking goals as you work to fill it up, especially for those of you preparing for retirement with the help of Summit subscription option. So, please check them out at summitmetals.com for great deals and also to support my work here on YouTube. So, jumping in, I said in a recent video that I expect gold and silver to bottom

out in the month of November. And that suggests, even though I think people should continue buying on a schedule right now, that prices can still go a bit lower versus where we are today. Because if I look at the charts, and I've provided two simple ones here for gold and silver showing monthly candle price development, you can clearly see those long wicks coming out of the tops of the October candles for both gold and silver. And what that suggests is that buyers were overwhelmed by sellers in

the last couple weeks of the month. Now, when you pair that with the fact that most of the market is focused on how Jerome Powell said there may not be an interest rate cut in the month of December and on top of that a potential end to the US government shutdown, which may act as a temporary headwind for gold and silver prices as we saw in early 2019 when the last US government shutdown was finally resolved. It's very likely that we can see a little more pressure applied to gold and silver prices in November. And that means

opportunity for the most experienced gold and silver stackers out there who see these pullbacks as a discount rather than something to be afraid of. Now coming back to the internet's endless supply of expert technical analysts, what they are saying is that the October candle for gold is extremely bearish or extremely negative. And considering how much trading volume there was, so how much gold was bought and sold in the month of October, which was record trading volume, by the way, it looks a

lot like early 2022 where gold price peaked out at the start of the Russia Ukraine war and then pulled back significantly. But this is where these armchair analysts show us who they really are because where they are totally focused on the charts. And by the way, I look at the charts too. It's not something I ignore. These guys completely ignore the macro situation, which back in 2022 was the Federal Reserve increasing interest rates as opposed to what they're doing right now, which is lowering interest rates. On top

of that, they also ignore the fact that gold has put in similar monthly candles, listen to this, five times since the beginning of 2024, also on growing trading volume, which hasn't stopped it from increasing by nearly $2,000 an ounce in price over the exact same time period. And the reason is, as this expost from July shows, is because these guys are a mixture of bots created to plant doubt in the minds of people considering gold and silver and morons who just repeat what the bots say. And

this verified account here, Vlad Cash, used the exact same terminology back on July 27th as the Blue Bowl post I showed at the start of the video, saying that people are buying the climax of the gold and silver market, only to be proven wrong a month later as price broke out once again in late July and early September. And this is why it's so important to pay attention to the macro environment in addition to looking at chart patterns. And this is a message, by the way, to anyone who thinks we are

repeating this 2020 cycle where gold is about to crash and Bitcoin is about to take off. Because to all of you out there who think that's going to happen, remember that the Federal Reserve has just announced the end of quantitative tightening. And that's their program of taking assets off their balance sheet, which helped temporarily reduce M2 money supply in the Fed's battle against rising prices. Now, this is extremely important and should not be ignored because the end of quantitative

tightening is typically bullish for gold because as liquidity in the market stabilizes, interest rates start to come down, making gold more attractive versus, for example, US treasuries. And as a result, as those rates come down, the US dollar also weakens, making gold a more attractive thing to hold versus US dollars. And on the other side of that coin, and thank you to Joe, by the way, from the Netherlands for pointing this out to me. You know who you are, the end of quantitative tightening is

actually a bit bearish or negative for Bitcoin momentum because it kills a lot of the volatility that makes it so attractive to traders. So, after getting tipped off by Joe, I went back to the 2019 data, which is the last time we saw the Federal Reserve end a quantitative tightening program. And funny enough, what we see in the data is that gold price rose 13% from the end of quantitative tightening in July of 2019 into early 2020, which is when I cut the data off due to the C19 crash, of course. But what we also saw during that

same time period was Bitcoin price declined by 23% and silver price went up by 20%. Suggesting that the fantasies of a Bitcoin mega pump at the expense of precious metals might be a bit overstated. And so you all know because I believe in transparency here on the channel. I took some profit on Bitcoin literally for the first time in my life a couple weeks ago. So that is what I am selling because the risk is too high not to do so right now versus what the potential reward is. And I think it's a

good time for anyone else who was speculating on Bitcoin to do the same and roll that profit into something real and tangible. That said, as an update to everybody who watches this channel regularly, I am not taking any more profits on my mining stocks after my last sale, which was about a month ago. And I am certainly not selling any of my physical gold and silver because the macro setup for metals, apart from what the technicals may be telling us right now, remains too strong. And I'm not

letting the charts scare me away from the very thing that will protect me from instability in the banking system, for example, which we may be getting a taste of as the Federal Reserve quietly injected nearly $30 billion into the banking system at the end of the day on Friday, October 31st, which is something they were also forced to do in the big runup in gold and silver in 2019. And it all suggests more upward movement for gold and silver prices despite the short-term pullback risk because I still

expect the Federal Reserve to cut rates in December. And we continue to see central banks buying gold. They are loading up on gold with rumors of South Korea buying gold this past week for the first time since 2013. In addition to rumors suggesting that Saudi Arabia, the UAE, and Kuwait all bought gold this past week, which makes me wonder if the massive slam that we saw in gold prices at the end of October were not manufactured to help them get in at a better price. So TB, as things stand today, I am not overly optimistic for

Bitcoin . And I see gold's outperformance of Bitcoin. And that also includes silvers, which we have seen so far in 2025, continuing for at least the foreseeable future. And that doesn't mean totally sell out of Bitcoin if it's something you're holding as a speculative bet. But we should be skeptical of the narratives that the Bitcoin maxis are putting out there when it comes to gold. Because till now we still aren't seeing major central banks adding Bitcoin to their balance sheets despite all the rumors

and stories we've been seeing online since 2020 saying they are imminently going to do so. big money and smart money are piling into precious metals. And I simply don't see any reason for them to stop now. Because despite all the arguments stating that gold and Bitcoin are the same and that digital gold, which is Bitcoin, is the future of the sound money market, the fact is they are not the same. And central banks are telling us exactly that. So, thanks to everybody for watching this video. Thank

you for making it to the end. Please remember, if you enjoy this content to leave a like below. And if you have a question that you'd like to see me address in a future video, please don't be shy. Add that into the comments section right now because I pick one viewer question or comment to appear in every single video I do. And you never know, yours just may be next. So, as I say at the end of all of my videos, I want to wish you all a fantastic week ahead. But more importantly, I want to

remind you all to take care of yourselves and take care of each other. See you in the next video.