Silver, Gold and Platinum are Due a Break
When you are climbing the steepest of mountains, especially at high altitudes, it can be tiring. If you start getting a nosebleed, you are simply working too hard and need a break.
The DSI on gold hit 97 four weeks ago and while it has struggled to keep up with its fellow climbers with their burst of speed, both silver and platinum are starting to look shaky.
On September 4th the DSI for silver hit 95 for the 2nd day in a row while platinum vaulted to 94.
Those are nosebleed readings.
With $17 trillion in sovereign debt around the world showing negative interest rates the old saw of “gold doesn’t have a return” has changed to “gold doesn’t lose money for holding it.” Indeed Central Banks around the world have been net buyers of gold for the last ten years.
I suppose I will have to change my tune as clearly the Central Banks have been manipulating gold and I never even noticed. I wonder why no one warned us they were forcing gold higher. Good for them, guys, keep it up.
Gold, silver and platinum will rest for a while but we haven’t seen a top. The upcoming bubble in real money is going to surprise everyone.
Well, almost everyone.