gold news

 hey everyone welcome to bald guy money this is a really big episode today you won't want to miss one second of it because gold as you can see on this chart here has made a new all-time high and this is a big deal because this all-time high is not like other all-time highs we've seen in the past we have broken above the $2,770 per ounce Mark I was telling you all to look out for just two weeks ago when I said a falling dollar is going to boost and if you're interested in the full gold story I will be covering it in

depth on my patreon after this video link to join is in the description and pinned comment but this video here is all about silver because history tells us that gold usually leads and silver follows and here are a couple examples I want to highlight for you all showing how this works because back in September 2009 just as we were recovering from the Great Recession and money printers were working at warp speed gold made a new all-time high breaking above the $1,000 per ounce Mark never to close a month

below that level ever again it was a big moment for Metals markets and served as a valuable reminder for people that the US dollar is no different than any other fiat currency that has ever existed throughout history in that it too is slowly devaluing in real terms due to IR responsible governing and central bank money Printing and that wakeup call rippled through the market until one year later in September 2010 silver broke above the $20 per ounce Mark for the first time in 30 years triggering a

massive blowoff top for both gold and silver as they both made incredible runs in price now fast forward to just before the c19 Fiasco the world's economy was slowing down and Central banks of the world most famously the US Federal Reserve stepped in to swiftly lower interest rates creating more easy money and triggering a jump in gold which had been climbing since April 2019 until it started to challenge its all-time high once again coinciding with a world Panic as c19 kicked off sparking renewed

concerns about fiscal and monetary responsibil so here I'm talking about government spending and central bank money Printing and as this was going on gold made a new all-time high by June July 2020 followed by an immediate spike in the price of silver from about $18 an ounce up to $30 an ounce so nearly a 2X and even more than a 2X in price when you think about what people were really paying for an ounce of silver at the time as premiums had shot through the roof so with gold making a new all-time

high last week and some people talking about entering the phase where gold takes off never to go below $2,000 an ounce again I want to address these key questions the first is Will silver be pulled up by gold the second is if yes how long will it take to see a real big move up on Silver and finally what are the major barriers to Silver breaking above the $30 per ounce price level and then moving beyond because there is a key barrier I want to address and make sure you are all keeping a watchful eye

on now just before we get into it if you're in the USA and want to add some gold and silver to your stack from a dealer you can trust please check out channel partner pinck they still have Sovereign silver coins in the form of these Austrian Phil harmonics for below $29 a piece American Eagles are now going for above $30 wherever I look so if you want something that's recognizable at a price you can be happy with I'll leave the link to this offer in the video description below and that's pin.com check them out for great

prices and if you're still considering rolling your IRA over into a precious metals Ira call the number on the screen they will take your call and walk you through all the details that apply to your situation for free just let them know you came from the bald guy Money Channel so getting back to our questions we start with if gold leads Will silver follow and to determine this I've collected price data going all the way back from 2000 up to today and what I found was that in the 24 years since the

start of the 21st century gold and silver closed the year because that is how we're tracking the Trend based on year closing price they have closed the year with the same result those results being simply up or down for the year 88% of the time which in statistics is defined as a strong positive correlation anything above 75% correlation is usually perceived as a strong positive correlation and leads me to believe that if this positive momentum continues for gold in 2024 we will with certainty see

silver follow but with a higher volatility rate meaning the upside for silver as I've said countless times on the channel will likely be much higher in percentage terms especially if you consider the fact that we're still underperforming versus gold up to this point in 2023 and you can see that on the chart there with gold up about 13 1.5% versus the closing price from 2022 2 and silver up only six let's call it 62% almost versus the 2022 closing price so that answers our first question but

now we have to ask how long will it take for silver to catch up and start breaking key price resistance levels namely the $27 per ounce level I pointed out just two weeks ago here on the YouTube channel before we start challenging $30 per ounce and Beyond to answer this one I want to start by saying that a lot hinges on how gold is going to finish the year but with the market expecting the FED to bring rates lower as we move into an election year and I will cover this topic in today's patreon video for those patrons who are

watching right now it seems that expectations for inflation to make a return are rising especially as a weakening dollar starts to impact the price of imports over the next four to 6th months and if we base silver moves versus how gold has led price development over the last 30 years or so going all the way back to when gold broke key resistance in May 2002 leading to a move in silver 14 months later when silver eventually reached $8 an ounce after trading at $5 an ounce for a long time we can confidently say that we are

looking at a period of 2 to 14 months before silver C CES up to the current Trend in gold and I am inclined to say that will likely be the first half of 2024 which is in line with predictions I have been making on Silver since 2022 for those of you who have been following me since then and I really believe that this is going to happen as inflation starts to Ripple through the market once again as I alluded to earlier 4 to 6 months from now that said there is something that concerns me about the

ability of Silver's price to move strongly past $30 per ounce and that is global industrial activity because as you can see here we are in a prolonged period of global industrial decline there simply isn't enough Global demand to keep levels sustainably High and the reason is that most people are decidedly poorer than they were as a result of inflation and although that might not be putting a damper on spending it is certainly putting a damper on real industrial demand and the reason for

that is obvious because you're still spending large amounts of money you're simply buying less with it now I understand silver demand even in the industrial sector is high I'm not saying it's not but historically there has been a correlation between this index that we're looking at here and the price of silver and all I'm saying is that this could act as a weight on Silver keeping it from achieving prices that some of us are expecting over the short term nonetheless I believe demand in many sectors

specifically solar may be enough to offset this but this is just a piece of truth you're not going to hear on any other YouTube channel because as bullish as I am I just want to temper your expectations a bit and listen when this reverses and it will reverse that's when we're talking about getting on the path to new all-time highs on Silver but I can't see those new Highs coming without a reverse in this index and we may have to be content with $30 silver until that happens so I hope that was informative

for everybody because now it's time to move on to this video's viewer question and this one comes from KD Airman who is asking what I think about stacking new mismatic coins I have actually answered this question once before on the channel but I think it's important especially as we're approaching Christmas to give everyone a very clear idea on where I stand and how I stack so first of all when I am talking about numismatic coins as it relates to Silver and Gold stacking I am talking about these kinds

of NGC rated coins that come slabbed in plastic versus a naked coin I am not talking about about collecting ancient coins which I do because that has nothing to do with this and what I want to start by saying is that the gold content in the naked coins is exactly the same as in the slabbed coins and with exceptions given to very rare and specific coins ones you need a great deal of knowledge to evaluate and understand I see these slabbed coins as a way to get people to pay more money for the same thing kind of like when a

farmer labels their products as organic you might think there's something special about it that the seeds didn't come from Monsanto or that they didn't use pesticides but the truth is you don't really know and you're probably paying double for a cucumber just because of the two-cent cardboard sign the guy made with a with a sharpie that says organic on it so as the old saying goes buyer beware because if you're trying to protect the value of your labor or give a great present to someone

that teaches them the value of real money just go with the boring stuff maybe put it in a plastic coin holder if you're concerned about the condition and if you want to start collecting coins I suggest you buy this book instead of buying slabbed NGC rated coins and start getting yourself educated to make sure you don't get ripped off because I've heard too many stories of people paying well above regular premiums for new Matic NGC rated coins only to be offered spot when trying to sell them back when

they needed money and to anybody out there who has a question they'd like to see me answer here on the YouTube channel just remember I pick one question for every YouTube video that I do all you have to do is put your question in the comment section now and I may just choose your question to be covered in my next YouTube video with that said that's it for this video remember if you want to join me for some technical analysis on the price of gold you can join my patreon that video will be uh dropping on the patreon later

today and until next time we meet take care of yourselves please and take care of each other we're entering the holiday season I'm really hoping that everybody's going to start reflecting that in their attitude towards other people and obviously beyond the holiday season moving into 20124 because 2024 I think is going to be a tough year we're going to need to stick together if we're going to make it out on the other side as better people so like I said I'll see you all in the next video take

care