Week Ending February 6, 2022



In Summary


Gold began the frigid month of February much like the Winter Storm that swept across the nation from Texas to Maine. FROZEN! Stuck in a tight range between $1,796.00/oz and $1,811.00/oz all week. The week was slow as far as economic reports and news is concerned, except for the jobs report that blew away the loftiest of expectations by more than double. Click here to see the autopsy of this report that shows traders have been making decisions based on fake news the entire year of 2021.


A Bright and Shiny Future

Wells Fargo has modified their expectation of Gold’s performance to join other prognosticators in expecting the yellow metal to shine around $2,100.00/oz by the end of the year. Despite all of the visible and obvious manipulation of the precious metals, they, especially gold, have been the tortoise in the long race. Accumulation today will show prudence tomorrow. If the illegal tactics are stopped, the Gold Bugs will control their own future. Utilize all physical opportunities in Gold, namely antique, certified, pre-1933 rare gold, and specific certified low population modern Gold Eagles. This arena is stronger than it has been in over a decade.


Opportunity in Bullion

Silver decided to sleep through the first week of February much like its umbrella partner Gold starting the week at $22.48 reaching a high of $22.84 and settling out the week at $22.51. Not much going on here except an opportunity for accumulation. There are extremely strong areas of numismatic silver while the bullion slumbers. Check out Morgan and Peace certified Dollars in all groups, common, better date and key dates. All show strong pressure holding bid prices and moving the wholesale market. I personally am paying attention to meaningful certified Signed Silver American Eagles with low populations.

Get it Now...

Make no mistake who is in the Oval Office, and who is behind the decisions coming out of the White House. Then remember who is in control of Congress. The economic outlook would be bleak if there were not two Democrat Senators that have some sense of sound conservative economic principles. But that is a thin line of resistance. After a year of the Biden Administration, it is clear the attack on the oil industry is specifically to make it expensive to own gas burning vehicles making electric cars look more attractive. Throw in the “chip shortage” which has car lots across the nation littered with very few new units and full of pre-owned vehicles at astronomical premiums just to keep the doors open. What this means is sticker price plus 30 – 40% on the new cars. Two things here, why not make the sticker 30% - 40% higher. Well then, you would not see how much more the gas burning engine is costing you. Further closing the gap between gas and electric vehicular power costs. There are no accidents in politics. This inflation is not transitory. It will drive commodity prices much, much higher. Get Gold!