Another external factor that cannot be ignored and may be extremely bullish for both gold and potentially other commodities is the news out of China a couple of hours ago - China has completely banned cryptocurrency transactions and crypto mining activities. The Bitcoin price has fallen 7% since the news and who knows how much it will drop?
China Issues Blanket Crypto Trading Ban; Bitcoin, Coinbase Slide - TheStreet
If there is a huge sell-off and other countries follow, where will that billions of dollars of liquidity go? My guess is precious metals - Similar in nature in that it is another hedge against the world banking systems.
Ann: Sampling Commences at Trident Lithium Project, NSW, page-49
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