gold news

 hey everyone welcome to bald guy money uh I'm going to skip the old sayings this week since I massacred Mark Twain last week but I will start by saying things are starting to get very interesting on the market because something very important just happened and here is the US dollar Index and what's significant about this is that we have broken below the key support level of 105 and I have been saying on my Pat on for more than a month now that we would start to see serious movement in the

price of metals once that level was broken and that's because artificial dollar strength and please remember that the strength we've seen in the US dollar since July is artificial totally based on expectations set by Wall Street paper Traders with respect to what brain farts Jerome Powell and his cronies at the FED would bestow a upon the market as they search for excuses not to raise interest rates anymore because of the pressure it would exert on the wobbly Financial system but this false strength was

weighing heavy on the dollar price of metals as well as keeping the price of imports in the United States down and those Imports make up about 15% of the US economy and again as I said this fake dollar strength was keeping the price of those Imports artificial low and it contributed to a better than expected CPI result last week driven as you can see in this chart by positions which have a heavy important International Market component to them and as I told my patrons on Friday just take a look at

the positions that are domestic in origin like housing food Medical Care and other goods and services they're still on the rise so considering those very important pieces of information in this video I think it's it's important to discuss what's next for the US dollar how it will impact inflation in the USA and Global markets and once we've covered that I want to talk about the exact price levels I am looking out for on gold and silver that will be signals to me that we are getting ready for our

next leg up in the price of metals because once these price levels the ones that I'm going to show you are broken then we're talking about new all-time highs on gold and a potential all-time high retest for the price of silver now just before we get into it if you're located in the USA and you want to add to your gold and silver stack without paying crazy premiums please check out channel partner pinck who are currently offering this qu ounce Canadian maple leaf for $555 and with the price of gold having

run up a bit over the last few weeks for those of you who are purchasing on a regular DCA schedule I think this would be an amazing addition to your stack because fractional pieces are the best way to stay on that schedule during periods of run-ups and if you want to check out the rest of what they have to offer remember that's pin.com you can reach them at the number on the screen just please let them know you came from bald guy money and I will leave the link to that great gold mapela coin in the

video description now getting into the nitty-gritty the US dollar is pulling back just as I showed you in the chart at the beginning of the video but it is still much stronger relative to other currencies versus historic norms and I want to unpack a little bit about what that means for the dollar and for the golden silver market in my last video I talked a bit about the new rules of money and how the new rules of money came into play when Richard Nixon took the United States off of the gold standard and since that happened the the

average value of the US dollar relative to other Global currencies as measured by The Dixie index is 96 which means that the dollar is 8% stronger today than versus historic norms and I've shared opinions on this before but I will reiterate my stance here and that is knowing that this artificially strong US dollar has a real impact on the direction in which money flows in the financial Market I can say that gold and silver should be in a situation where the market has attained some kind of equilibrium where we've returned to

Market Normal silver should be above $25 an ounce and gold should be at an all-time high of $2,140 an ounce but with that said we know that this equilibrium doesn't make much sense today and that's because the Norms based on historic levels do not take take the massive levels of US government spending that have got the world caught in an inflation trap into account and for that reason I am certain the dxy will be hitting levels we saw in the late 70s I've said this current crisis smells a lot like the 70

stagflation period as well as levels we saw in the last financial crisis also known as the Great Recession which should bring the Dixie dollar Index down for an extended period perod of time to around at least the 86 level and that means that Metals likely have a 21% upside in them at the bare minimum as the dxy Retreats and the real recession starts to settle in bringing silver up to $28.60 an ounce and gold up to $2,391 an ounce at which point numerous psychological factors will likely shift the market and push these numbers even

higher as retail investors scramble to get in at which point it will be too late for many because all the smart money has already been getting in over the last year and the final bits of that money are trickling in as we speak and that's because they know as I said in last week's video that we are at the edge of the cliff here's an image from Bank of America's research investment committee I saw on game of Trades um Twitter account where he marked where we are today and I couldn't agree with him

more and the coming drop off of the cliff will bring the US dollar down with it not necessarily killing it outright you all know that I am a little more tempered when it comes to causing panic over the dying dollar but it will crash making it harder for the US fed to achieve that goal of 2% inflation so don't count on seeing that anytime soon but this should give some inflation reprieve to my International viewers whose currencies will appreciate versus the dollar in that time frame also fueled by economic factors which will

maybe not kill inflation outright but it will stop it from reaching the levels we saw in 2022 because declining economic activity means lower prices as companies try to move Goods as those prices come down that means tighter margins lower profitability for producers and overall earnings for corporations for major corporations traded on the stock exchange will Decline and as I've said a million times already on this channel this is going to force the stock market lower with the exception of mining

stocks of course which I have said numerous times over the past months that I expect to do very well and I have personally made significant moves within my own per uh personal portfolio to reflect that level of conviction I've sold out of major S&P 500 companies and I've bought into large Miners and Junior miners all of which are extremely undervalued right now and I say this as a person remember who was a major bear on mining stocks in the past so in line with that and just before I move on to

reveal the price levels we need to break before reaching the highs I've alluded to in this video I encourage you all to check out this free newsletter from my friends at wealth researchgroup tocom I downloaded it myself and it really covers a lot of interesting data points as well as gives serious consideration to us political issues and how they will impact the value of the US dollar showing more of the catalysts that are set to push the value of the US dollar down and just as I've alluded to in this

video this is poised to effectively drive down the value of your cash savings and presents some fantastic informative content that's really easy to digest but also helps you understand the whys the whats and the when's with respect to the major risks lurking in the US dollar and the opportunities that exist in mining and again it's absolutely free and I will leave the link to get this free newsletter in the video description so please check it out because issues that are already being

wrestled with in Canada and the UK namely a stagnating GDP Rising unemployment and declining wages and this data you're looking at here is for the UK that is on its way to most people around the world right now and in my opinion the more you know and the more information you take in the better prepared you're going to be moving forward and now without any further Ado and just before we get to this video's viewer question when it comes to the price levels that gold and silver have to get above in order to Signal the next

major price breakout we are looking at $27 an ounce on Silver that is the last place we got a serious price rejection and that was back in 2022 and if we can break that level and close above $27 an ounce then without a doubt we are going to retest $30 after which point if we can close above that there's nothing but Open Sky for silver and for gold the level I need to see us break and get above is $270 an ounce once we've done that and closed a week above that level that's when we're going to start to see

prices in the $2,391 per ounce territory so with that covered I want to move on to the viewer question for this video and remember you can submit your questions in the comments of my videos all my videos I see them all and I may just choose yours to appear in a future video but in this one I want to cover a topic that I get asked about a lot and that is gold and silver IAS or individual retirement accounts and these exist most famously of course in the USA but they also exist in different forms in different

countries like supers in Australia or isas in the UK and these have tax benefits when it comes to directing retirement related investing and what people like Greg vouch want to know is what do I think about them and when it comes to viewers like Marita that person via their comment exposes some of the important things things to consider getting into a gold Ira so to start I want to say I think gold and silver IAS are a fantastic way to save and prepare for retirement but there are a lot of things you need to know with respect to

how to do it the right way and considerations you need to make before jumping into an IRA and I'm going to do this with the support of a list of things you need to consider when thinking about getting into a gold and silver Ira or rolling your current current Ira or super or Isa into a gold and silver product and it starts with the reputation of the provider because let's face it reputation is everything in business and if you're considering moving your retirement savings into a gold and silver Ira or Isa or or super

or whatever it's called in your country just do a quick Google search to see the reputation of the company many of these companies are on the level they have the gold they say they have they have the silver in case you're getting into a silver Ira but some have been slapped with lawsuits from the states they operate in or even the SEC in one case that comes to my mind and those are companies you're going to want to avoid and it's easy if you search them on Google and add scam or legit to their

name it should yield the results you need in order to better understand the reputation of the company now the second point on the list and this you know arguably could have been the number one on on the list but it's fees because many gold Ira companies that are legit and give you what they say they will give you many of them have spokespeople like former television personalities or politicians who talk about how it's the only way they buy gold blah blah blah blah blah and those spokespeople are

paid for very often by exorbitant fees that you pay to the IRA company to manage your IRA and sometimes the management or rollover fees can be as high as listen as high as 20% of your entire savings fund which makes it absolutely pointless to get involved with a company like that so be careful look out for crazy high fees I don't want anyone who watches this channel to fall victim to something like that because what it equates to at the end of the day even though their business is on the level and let's say

they're communicating these fees to you it's very confusing for many people and in my opinion it it it equates to a scam there's no other way to put it now moving on to point three although I think gold and silver IAS are a fantastic way again to save I I have nothing against them at all just remember that they come with counterparty risk like any Ira for that matter or any investment you make that you don't physically control but what I want to say here is that you have to be comfortable with the people who are

storing your metals and that they will still have them when it comes time to cash out your savings and for full transparency all of my gold and silver Holdings are in physical uh golden silver that I store in different places under my personal supervision so I do want to be perfectly transparent with respect to how I approach the topic but I know there are diverse opinions out there and for those of you who are asking me about it I wanted to offer this information up because I can't tell tell you who to work with or where to

park your IRA that's your choice but if you want to know more about low fee gold and silver IAS from a provider that doesn't hire celebrities on your dime and please believe me when I say that I never meant for this to become an ad on my channel but Channel partner pinck they can help you all you have to do is call them at their number and putting it up on the screen here it doesn't cost you anything but your time and I know that they will provide you with all the information you need on this topic if

you're in the USA and want to get into a gold or silver Ira or a gold and silver Ira whatever combination it is that you want to explore they can help you and they can answer your questions for this on free uh for free if you just give them a call um and from what I understand you get the gold at the prices they sell it for on their site not at some crazy pumped up prices like some IRAs offer so if you want want to know more again you don't have to commit to them or anything like that but just

give them a call talk to them and learn more about the topic if it's something you want to know about with that said everybody that's it for this video I am wishing you all a fantastic Sunday ahead for my viewers in the USA Thanksgiving is coming we're all going to get to sit around the television and watch the Detroit Lions kick some serious butt and for those of you who aren't celebrating I just wish you a great week ahead take care of yourselves take care of each other and I will see you all in the next

video goodbye