golden monday

Good morning and welcome to a Golden Monday! I don’t blame you if you haven’t heard of a Golden Monday. Shoot, I made it up at 4:00 a.m. this morning when I woke and saw that the price of Gold had dropped another $10 during the night. If this continues into Monday, it makes it a “Golden Opportunity” to buy-buy-buy. More on that in a moment. This morning Paul McCartney & Wings greets me with their 1973 hit, “Band on the Run.”

If you are, like I was, always looking to understand the technical side of precious metals so that you could better forecast, you need to know right now that commodities are more convoluted than stocks. In all of my essays over the past years, including last week, I offer explanations as to why I believe precious metals are going to react this way or that, based on this happening in economics or politics. But the reality is that although my reasoning’s might have merit, the five big banks really will do what they want to accomplish their goals.

As New York wakes up this morning, we’ve had a slight rebound in prices but gold is still off -$5.90 at $1,273.0, and silver is down another -$0.06 to $16.57. Platinum is up $1.00 to $911 and Palladium is unchanged at $9.38.

I was watching a Bloomberg Markets video this morning where they interviewed Phil Streible, a Senior Market Strategist from the CME Group. He forecasted that Gold would hold firm at the $1,300 level with anticipation of it going to $1,400 and higher by year end. Obviously, if the U.S. and PRK (North Korea) tensions escalate, precious metals will move up, but I’m not buying into the story that gold is getting sold at the moment because Janet Yellen and the Fed sounded hawkish at their last meeting, and that the tax reform bill will be everything that the President promised.

I have no idea how the scuffle with North Korea will go, but I’m pretty sure that the Fed will be eating their words come December. And the tax plan? Don’t get me started with that. Suffice to say that by the time Washington is done with it, the plan will be as worthless as anything else that seems to come from there.

Okay, so in the opening paragraph I alluded to a “Golden Opportunity” to purchase gold while spot prices are depressed. If you are interested in buying gold, we will be offering gold on our AtlantaCoin website, Instagram, Twitter, and Facebook accounts. And if you want to sell gold or silver, gives us a call and we’ll help you sell it.

Well, that’s it for today. Go out there and make a difference! See ya later…