- SD Bullion
Financial Markets ran into indecisiveness this week as indecision over the coming US election, increasing viral cases and business lockdowns in Europe but also in the USA, and too, the lack of pre-election fiscal stimulus for the US consumers many of whom are out of work or now have businesses operating in failing industries. Brace yourselves for a further potential downside buying opportunity later likely soon enough, as all these factors appear to be driving financial market sentiments lower. If we simply look back at late 2016, you may remember that we lived through one of the most volatile 24 hour periods in the gold market where the price of spot gold rose $50 an ounce on Trump’s shocking victory only to be slammed by $100 oz shortly thereafter by a still record-sized COMEX gold futures contract trading volume.
Likely some were working hard at the BIS gold price intervention desk that Election Day [ i.e. see BIS services offered on page 17 http://bit.ly/BIS-GOLD-RIG-DESK ]. Possible market volatility due to indecisiveness on clear election winners may be coming in the weeks and even months unfolding. A final note before we begin this week’s SD Bullion market update. In a bull market price consolidation, both the 200-day moving averages and the psychological round numbers of $20 oz silver and $1800 oz gold on the two price current charts we just showed, should be targets to buy into volatility and weakness. As yet more infinite QE and stimulus are likely coming first quarter 2021 so in short. If we get a major dip in bullion prices, and your position is not set, it would behoove yourself to buy into that weakness. IMF – BIS – Federal Reserve love CBDC development: