Robert Kiyosaki predicts colossal market crash

Spot gold added 0.4% to $2,755.2 per ounce as of 02:29 p.m. ET (1629 GMT). Prices were at their highest since Oct. 31 when they hit their all-time high of $2,790.15.

“There are uncertainties with proposed tariffs and other things, and gold typically does well when there’s a large or even a moderate amount of uncertainty in the market, it’s a natural place where people gravitate to,” said Ryan McIntyre, senior portfolio manager at Sprott Asset Management

“(Trump) has been perhaps just a shade less hawkish on tariffs as feared, which helps — less/lower tariffs is taken to indicate lower inflation hence potential for more rate cuts,” said Tai Wong, an independent metals trader.

Source – Reuters

Gold inventories in New York are on a path to levels last seen at the outset of the COVID-19 pandemic, with stockpiles in the city hitting $82 billion.

“People can’t get their hands on gold because so much has been shipped to New York, and the rest is stuck in the queue,” an unnamed industry executive told the FT. “Liquidity in the London market has been diminished.”

“London remains the major gold market in the world. If you are involved in that market and want to trade or use your gold, you really need to have it in London,” BoE governor Andrew Bailey told the U.K.’s Treasury Committee. 

Source – Fortune

Gold prices are “not even that far away from all-time highs, so the upward momentum is there, we just need some kind of trigger to get it going,” Blue Line Futures chief market strategist Phillip Streible said.

Front-month Comex gold (XAUUSD:CUR) for January delivery settled +1.1% to $2,766.80/oz, gold’s 11th gain in 15 sessions, and front-month January silver (XAGUSD:CUR) closed +1.5% to $30.727/oz.

Source – Seeking Alpha