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they don't even mention that Gold's going up they're just fixated nonstop on bitcoin you know somebody finally mentioned gold yesterday it was Mark cubin and they were interviewing him he was talking about Bitcoin and then he said well you know bitcoin's a new gold and he said he buys Bitcoin over gold uh all day every day today gold finally set a new all-time record high again we're talking nominal highs the new high today was 2,140 and change not sure the exact price but we took out the old high which was set in December of last year which was about 2,135 now the largest gold ETF GLD actually hit a new record high last week because on that December night when gold traded 2135 it was outside of us Stock Market trading hours so the the ETFs never got to trade that High by the time the US markets opened gold had backed off Peter skiff stated that the eedfs made their new high last week what's unprecedented about Gold's recent surge according to skiff is the complete lack of fanfare there's no media coverage no retail participation and the public isn't buying into this rally in fact skiff pointed out that people have been selling during the the entire rally looking at the Gold iths there have been net outflows every week this year even as gold keeps Rising he said skiff emphasized that this behavior is unusual typically people buy as the price goes up and sell when it drops it's driven by emotion when gold Rises they get excited and buy when it falls they get nervous and sell but this time gold has been climbing and the public continues to sell skiff raised the critical question if everyone is selling how can the price of gold be going up he explained that for the price to rise someone has to be buying if the public is offloading their gold why isn't the price falling skiff answered his own question because somebody else is buying someone who knows a lot more than the people selling and that someone is foreign central banks they are the big buyers in this market which skiff said is also why silver is nowhere near its all alltime High central banks aren't buying silver they're focused on gold silver is still below $24 an oun less than half of its record high because the central banks aren't buying silver they don't want to store silver they buy gold that is the monetary asset that they are loading up on and if central banks are buying there is a reason they are doing it it's because they are dollarized they are reducing their Holdings of US Dollars now if you're going to get out of the Dollar by definition you have to get into something else and the something else they're getting into is gold they're not replacing the dollar with the Euro or the Yen or the British pound or even the Swiss frank they are replacing it with real money with gold remember when the dollar became the reserve currency it didn't replace the pound it replaced gold up until 1971 all Reserve currencies had always been backed by real money gold and foreign central banks can read the writing on the wall because they're writing it on the wall they know how many dollars they're going to be selling and they're trying to get their hands on as much gold as they can and the people individual investors who are being duped into selling it by the mainstream media are helping the central banks buy more gold for less money the new floor in gold in my opinion is 2,000 doesn't mean it can't get below it although I doubt it's going to get below it again but when I was saying it I meant buy a 2,000 if you can get it cheaper so much the better but don't expect it to go much below because that's the floor the question is where's the ceiling there is none because there's no floor to the value of the dollar there's no ceiling to the price of gold this is a major breakout gold prices are going much much higher my suggestion is that you buy more gold don't wait uh just buy whatever you think we're buying Silver's not Rising yet because the central banks aren't buying it but eventually the public will when the public wakes up to what the media is oblivious to there's no covering you watch CNBC they don't even mention that Gold's going up they're just fixated nonstop on bitcoin you know somebody finally mentioned gold yesterday it was Mark cubin and they were interviewing him he was talking about Bitcoin and then he saidwell you know bitcoin's a new gold and he said he buys Bitcoin over gold uh all day every day like gold is worthless we got Bitcoin Peter skiff explained that Bitcoin hit a new high today just like gold but for completely different reasons according to skiff gold is rising because central banks are buying it the Dollar's days are numbered and inflation is spiraling out of control in contrast Bitcoin is climbing due to Mania fools who don't know any better are being led like lands to the slaughter by Wall Street into these EDS and out of gold stocks skiff remarked he criticized the trend of everyone selling their gold to jump into Bitcoin edfs emphasizing that this is precisely when they should be buying gold the public is doing it all backwards skiff said noting that the smart money is taking full advantage of people's gullibility ignorance and greed skiff also warned that today's gains in Bitcoin are just a small glimpse of the downside that will unfold especially when money starts flowing out of those Ed the people buying central banks don't care about the price they just need the gold they're trying to get rid of their dollars and aren't replacing them with pounds Euros or Yen they want the real thing they want gold skiff said urging others to follow suit for those with a higher risk tolerance skiff suggested considering gold mining stocks last week instead of adding to his physical gold skiff significantly increased his Holdings in gold mining stocks even though they've had a nice bump since I bought them they're still very cheap he said pointing out that the stocks are still far below where they were in December of last year when gold was trading lower than it is now and even more undervalued compared to Prior Peaks for those willing to take on more risk skiff believes gold stocks offer an attractive risk reward opportunity one he's eager to capitalize on
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