Jump to content
  • The above Banner is a Sponsored Banner.

    Upgrade to Premium Membership to remove this Banner & All Google Ads. For full list of Premium Member benefits Click HERE.

  • Join The Silver Forum

    The Silver Forum is one of the largest and best loved silver and gold precious metals forums in the world, established since 2014. Join today for FREE! Browse the sponsor's topics (hidden to guests) for special deals and offers, check out the bargains in the members trade section and join in with our community reacting and commenting on topic posts. If you have any questions whatsoever about precious metals collecting and investing please join and start a topic and we will be here to help with our knowledge :) happy stacking/collecting. 21,000+ forum members and 1 million+ forum posts. For the latest up to date stats please see the stats in the right sidebar when browsing from desktop. Sign up for FREE to view the forum with reduced ads. 

These 9 Jim Rogers Clips Will Make You Want To Buy Gold


Recommended Posts

 

Gold broke through $2,200 late yesterday, peaking at $2,220 before moderating around $2,200. At the time of writing this is where it remains. Silver very nearly stole the limelight from gold, as it rocketed up to $25.63 a near 3% climb.  

The big economic event yesterday was the FOMC announcement, however gold did not react especially dramatically to the initial news that US rates would remain in a range of 5.25% - 5.50%. It was only after the reopen that it leapt up to $2,200, following Powell's press conference. 

Did it just take a press announcement about US interest rates for gold and silver to start climbing? No, but it was certainly the catalyst to a reaction that has long been taking effect. Gold has been performing very well of late. After all, it wasn't so long ago that we were remarking that it had broken through $2,100. This is because in the background there is plenty going on to support gold's rise. It doesn't take one interest rate announcement to allow gold to find strength. If anything, the yellow metal has become markedly less interested in interest rate announcements in the last year or so. 

One of the big supporters of the gold price in the last couple of years has been central bank demand. World Gold Council research shows many of the reasons for increasing gold reserves ultimately comes down to reducing geopolitical and currency risk. And there was some key news yesterday that is sure to have central banks even more wary about how and where they hold their reserves. 

Yesterday, the EU appeared to 'find a way' that would allow frozen Russian Central Bank assets to be used to buy arms for Ukraine - i.e. central bank assets which were frozen are now being repurposed to the benefit of other countries. Aside from where other countries sit on the Russia-Ukraine war, this is likely to sound serious alarm bells. Currently, the ECB prides itself on being a safe haven for other central banks looking to store funds. But now, a precedent is about to be set whereby it is seemingly okay to utilise assets from the central bank of another nation. This completely goes against the role of a safe haven.  

In short, we expect to see increased demand for gold by central banks and this may well have something to do with the climb in price yesterday. Either way, this will no doubt add even more support to the case to own gold. 

Despite gold's new headline-worthy price,¬†you might still find there are some naysayers in your life who think this is an archaic investment and a waste of time. Or perhaps you're wondering if you should buy some more gold?¬†If that's the case, then we implore you to watch nuggets of knowledge from legendary investor Jim Rogers in our ‚Äú9 Jim Rogers Clips That Will Make You Want to Buy Gold‚ÄĚ.¬†

As always, we love to hear your thoughts. Let us know what you think about the recent hike in gold and silver price, do you think it is sustainable? Do you agree with Jim Rogers's take on events to come?

image.png

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
√ó
√ó
  • Create New...

Cookies & terms of service

We have placed cookies on your device to help make this website better. By continuing to use this site you consent to the use of cookies and to our Privacy Policy & Terms of Use