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I'm guessing that China and India will be very appreciative of cheap metals in the West. Quite a difference between spot and SGE closing prices right now.

Looks like they had some fun. Michael did a great job. :)

Unfortunately for Zimbabwe, I think the folks running the country are also robbing them blind, but yeah, if the RBZ manages the new currency honestly, it should be a positive development for the country.

Zimbabwe has announced they will be replacing their existing fiat currency (ZW) with a gold standard currency (ZiG) backed by a basket of gold and USD: https://www.pmbug.com/threads/zimbabwe-made-gold-legal-tender-and-reintroduces-gold-standard.4966/post-98582

Seems to be some confused reporting there. Texas already established the Texas Bullion Depository. There was a bill in 2023 to enable Texas to develop a gold backed crypto with the backing gold to be stored in the depository, but the session ended before a floor vote was held. The bill is...

No market moves in a straight line.

When I was younger, I once left a 5.25" floppy disk on the dash of my car. It looked like a waffle when I found it later.

For the lulz:

Made you look! Gold ~4-7x Silver >10x Timeframe? Apparently open ended if he made set the targets 5 years ago. Crystal ball predictions is a game worse than get rich quick by buying lottery tickets. ~~~ Gold is money and it acts like it because central banks are not happy with the USD...

Gold closed above USD $2230 here in the USA. Next week should be interesting!

https://www.9news.com.au/national/australians-to-pay-cash-only-in-protest-of-cashless-society/6a214001-a4df-49fb-8e14-19848260a753

FWIW: https://www.kitco.com/news/article/2024-03-27/bitcoin-price-dips-after-coinbase-staking-lawsuit-decision-analyst-warn

Tomorrow is Good Friday and a holiday for the markets, so today's close is the week's close and likely to see some strong action.

You peeps in Australia are in the thick of this war on cash. It's still mostly percolating in the background here in the USA.

Morning here in USA and gold has broken through the USD $2200 resistance. We'll see if it holds by market close...

https://www.centralbanking.com/central-banks/monetary-policy/7961027/switch-to-gold-standard-could-stabilise-prices-philadelphia-fed-research Here's the paper: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4744246

So in addition to potential approval of spot Ethereum ETFs in May, the UK is opening doors for institutional investment in cryptos: https://bitcoinmagazine.com/markets/london-stock-exchange-to-launch-bitcoin-etn-market-in-may ^^ BTCmagazine made it seem like this was BTC only, but the LSE...

FOMC did what I thought - held rates and said we wait for more data. Markets reacted differently than I thought. I guess JPow affirming that 3 cuts are on the table this year was sufficient to keep the market happy.

The Fed's Open Market Committee has been meeting since yesterday and releases their announcement/statement today on their interest rate decision and future guidance. The markets want a rate cut (or guidance that it is coming). Latest market data is showing that inflation is getting stronger...

You can also try: https://bullionstacker.com/ https://realcent.org/ https://www.pmbug.com/ (I own this site)