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I don't think I need to explain why gold is suddenly rising this morning. Gold has shot up about $30 per ounce since about 4 o'clock this morning after steadily rising all week. Gold was smacked down to just below $1,820 last week and right before the Hamas incursion into Israel. Now, gold sits at about $1,911. Somebody's making off with huge profits, eh?
Silver too is rising but still very affordable. For how much longer though, I cannot say.
Oil is up over 3% this morning with Brent Crude at $89.23 while Bitcoin hit a daily high of is holding strong above 106.
You know what else is rising? Defense stocks... In fact, U.S. defense stocks have surged nearly $30 Billion after the Hamas attack.
But never mind that. Here's a feel good story of a 20-something Gen-Zer who got tired of owning nothing and bought a 1,000 square foot piece of desert for $200 just to be able to say he owns something.
On a lighter note, Venezuela's inflation rate fell from 398.4% in August to just 317.6% in September and their central bank has lowered interest rates by an enormous 0.05% bringing their key lending rate down to just . Imagine having a mortgage at that rate!
Buy Gold. Buy Silver. Buy Bitcoin. Heck, even owning a piece of desert is better than holding any currency at this point.
(See references section for more information.)
Peace and love to everyone!
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Previous Posts:
The tragedy unfolding in the Middle East.
Three major central banks hold rates steady.
U.S. national debt surpasses $33 Trillion.
Japanese Yen hits record low against gold.
European Central Bank hikes again to record 4%.
Massive oil deficit next quarter signal higher gas prices!
Loose lips sink ships. Your co-workers are not your friends.
Central bank gold buying spree not slowing down.
Oil prices in gold remarkably stable for last 70+ years.
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