The story behind the surge in silver, copper, and gold
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- čas přidán 16. 05. 2024
- Copper (HG=F) and Silver (SI=F) have both risen to new highs as demand increases for these metals, while Gold (GC=F) also rises as China's Ministry of Finance proceeds with a stimulus plan involving the sale of $138 billion worth of ultra-long special sovereign bonds.
Bloomberg Intelligence Senior Commodities Strategist Mike McGlone joins Market Domination Overtime to give insight into metals and how the markets might trade moving forward.
McGlone elaborates on what could happen with silver as China looks to buy many precious metals: "There's potential rumors that, we know China has been the biggest buyer of gold, not just Chinese Central Bank, but citizens. There may be some hoarding of silver, but the key thing I'm more worried about silver is that it might follow that path, that autocorrelation path in copper which spikes and then goes back down. In the macro, the big picture, though, I'm very favorable in terms of commodities, most favorable to metals versus most other commodities.
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#gold #silver #yahoofinance
Gold and silver values aren’t going up, the value of the dollar is going down.
Wise one!
NO YOU ARE WRONG. THE DOLLAR IS DOWN SLIGHTLY AND GOLD SILVE COPPER ARE UP HUGE. AND THEY WILL GO UP MORE AS THE DOLLAR GETS WEAKER
@@westcoast8562 No reason to yell my friend. You have a good point. However, the dollar is only worth “faith and credit” whereas gold has an intrinsic value.
partially true, i feel metals are realizing their true value
@@westcoast8562 Actually, he was right. The USD is down or up compared to other, even worse, fiat currencies. But against real things-groceries, cars, homes, gold, silver, etc.,, the dollar is going down in value. It is hard for people to understand this, but when the price of things goes up in dollar terms it is really the purchasing power of the USD going down. The dollar is declining in value against almost everything on Earth...except even worse fiat currencies...pound, franc, yen, drachma, peso, etc.
Long story short: people are waking up!
👍🤣
Silver actually closed up $2.02
Precious Metals=Money NOT THAT CHEAP PAPER!!!!!
Yeah man, I stopped watching the video half way because they failed to mention India and the other reasons Silver is moving. Stay Stacking Rifleman ( dude best Internet name )
and never forget to keep investing in Brass , Copper & Lead !
This is the last place you come to for truth about precious metals. As currencies bleed purchasing power, Gold & Silver soak it up. Real money maintains it purchasing power, fake money bleeds it out
Bix Weir has some good info on silver, his site is Road to Roota, and he has a CZcams channel.
@@bobsilver3983yeah buddy
Silver to the moon❤🎉😊
Go SILVER!!!
Silver has been in deficit for years which is expected to continue.
Wasn’t that the Lone Ranger’s war cry?
@@romaricogalvez1024 I think it was "Hi Ho Silver"
Gold/ Silver ratio is at 76.5. Just weeks ago it was mid 80s. That's the lowest I've seen it in years.
@@MrMace313 It was at this level in Dec., 2022-Jan. 2023 for several days, but the drop in the GSR this week has been incredible.
Mumbling incoherence.
LOL TRUE THAT . WHAT AN EXPERT LMFAO
He's just trying to minimize the importance of precious metals because he masters told him too. Don't worry. $600/oz Silver is coming.
Yeah, what the heck is he talking about?
@@fedup745 I blame myself for spending 3 minutes listening. I thought Yahoo finance is better than CNBC. Wrong. They both suck.
@@moonlambo5229 no chance of 600 but maybe 100
I have been researching silver for 5 years now. I have never heard it referred to as the 'devil's metal'. Many people call it God's money because it's mentioned hundreds of times as money in the Bible. This is more Legacy Media spin.
Mainstream news is the devils news.
"Devils metal". I laughed at that.
Didn't mention Trillion $ of debt every 100 days... He's a clown
Money printing causes this. Out of control government spending.
Just wait until the COMEX loses control and panic sets in. There are 250 paper ounces of silver being traded on the COMEX for every one ounce of physical silver. Just wait until people demand physical delivery and find out that 250 people own that one ounce.
Agreed, we're experiencing Modern Monetary Theory in full effect.
@@bubbajones4522 that’s crazy - where can I find that information ?
@@DerekCarrillo7541 Do a search on "COMEX paper silver to physical ratio" and you'll see that the COMEX is claiming to only be selling the same ounce of silver 28 times but scroll down and you'll find that they are cheating 250 people for every single ounce.
Waiting for dxy to drop. 35 trillion in debt like hello 😅
Huh? What did he actually say?
I’m not worried about silver going back down. If it does I’ll buy more. We need 1.2 billion ounces a year and mine supply can’t seem to reach 900 million. This can’t last long, I’m buying all I can.
JP Morgan must be asleep at the wheel
They have one job and one job only:
Suppress the silver price
lol, they’re on vacation
Me looking at my jar of wheat pennies: 😎
You need to set your goals a little higher.
@@MrMace313 that's the joke....
Hey whatever get some of the shiny ones graded and see if you get a 68-70
You could be sitting on something that a collector would appreciate
not even a mention of silver shortage and price rigging
Bullish PM’s just starting
I think not, you should start selling slowly on the way up. You will not be able to time the market. You will always say it will to up more, another 5 dollars another 10 dollars. And you will lose out on gains and it will come right back down only for you to wait another decade or 2 which will bring you much older and you will have regrets of not selling at those higher prices.
@@Coldnose-qv6sn are you Nostradamus 🤣
@@Coldnose-qv6sn Technical charts say silver will hit $50 in the next three years. Fundaments (specifically supply and demand) indicate it is undervalued. Tidbit: Silver hit $50 in January 1980. Name me one commodity that (until the last three weeks) was trading 50% below it's 1980 price....45 year later! I will not be selling Monday, next week, this year or ever until the price gets to at least $48.00/oz. And will only sell 10% then. If anything I will buy puts to protect any unlikely downside.
THE TIME HAS COME. IT IS AMAZING HOW CHEAP COPPER AND SILVER STILL ARE. THE COST OF BUILDING A NEW COPPER MINE IS BETWEEN 30,000 AND 40000 PER TON. THE COPPER RUN HAS JUST BEGUN AND IS NO SPIKE COMING OFF A DECADE OF CONSOLIDATION...SAME WITH SILVER AND GOLD AND URANIUM. GET SOME
Silver & Gold , Silver & Gold 🏴☠️
Audio quality is terrible, hard to understand.
Currency is debt and sovereign bonds are currency.
When governments have exhausted their fiscal space, the crowding-out effect of the state on credit adds to the rising taxation levels to cripple the potential of the productive economy, the private sector, in favor of constantly rising government unfunded liabilities
You can get copper at a massive discount by accumulating pennies 1981 and prior 👍
Canada got rid of pennies. They need to get rid of nickles and dimes soon if Trudeau stays in power.
I have been saving them for about 10 years
Sound quality is terrible.
1 T USD debt added every 100days..you can bet where it Will be winning team.
Sell the news?
not this time, I'm in gold since $1300 2018, lot of people said triple top at $2000, wrong now its $2400.long term buy.
The reason is that inflation goes up so are communities! Nothing what you meant is important!
Let’s go 🔥🔥🔥🚀🎰💰🏦❤
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500oz and still buying
simply bc many countries are choosing to buy in gold and silver for a rainy day, esp when they see G7 can seize Russian assets at any costs inc ruining their own credibility.
Wat would happen if the dollar fell like dramatically. Prob won’t go to $0 but I mean a big hit is a big hit. Isn’t china going thru ther $ dollar falling?
Anti-Bitcoin.
Yes
Yup
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Buy silver
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There isn't any story behind the surge in silver, copper, and gold........ He sees things that aren't there🤨..., probably because he doesn't trade!..
Boring speaker
Does this guy really know commodities??? Why ask this guy??? 🙄
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They are just pet rocks
That's powering your powering your computer or ipad or phone you made this comment on.
A wedding ring is made from a pet rock?
It's called bidenflation.
🤖🥱🥱
That hardly explained anything.. 😆
As the crypto narrative evolves, Revux takes center stage as the next big thing, captivating the interest of those seeking a project with genuine potential and impact.
Guy talks in circles
Last decade of US 🐍, say truth with makeup 🤣 at least
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never been a fan - seen this commentator before, same old garbage
MMT expert trying to explain sound metals in fiat currency terms. He can't explain it because it doesn't fit the narrative now like it did in the past. Clueless.