The market is expecting Biden to be sworn in next week. Investors have bet big buying companies they believe will benefit with a Biden Admin. If "out of nowhere" Biden did not get in the market would consider it a "Black Swan event". The market will drop big as those investors unwind their positions. if you are thinking about getting into the market consider waiting until this is played out. I already shorted the market yesterday. i intend to hold my position until after next Wednesday. If the market does what I believe consider it a gift. Then think about getting in I can tell you that when President Trump gets in who knows how high it will go. I think I would stay away from Big Tech no matter what.
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I've bought into Gold and Silver right at the start of this, expecting it to rocket on the uncertainty. It did! I've given that a lot of thought, and towards the election it was shifting upwards again on the back of a Trump win, it's since backtracked but fully expect it to drop if somehow China Joe steals the seat!
If President Trump makes it, it'll be a wild ride upwards!
I have an order sitting out there to buy gold at 1811. If I get in my target to get out is about 1920. I would expect a pullback when price gets to 1930. A much bigger pullback at 2045-2085. I swing trade so I am only interested in price movement for a few days to a couple of weeks. I honesty do not know what Gold will do under Trump. It really can't go through the roof without other commodities also going through the roof. Gold is really important when there is a lack of confidence in the currency. Hyperinflation happens because people no longer trust the currency has value or will keep its value. Without that trust they want more of the currency to help defer the risk.
Gold will kill the Fed but and you don't need a runaway gold price do to that. Just something to consider.
Hi, thanks for the reply, and yes I will bare that all in mind. I bought in March when prices were lower, but still holding physical! I did used to day trade and spreadbet but got into crypto now.
If the rumors are true about coming implementation of NESARA, and a move to PM backed currencies, wouldn't that boost gold and silver?