January 15, 2021 

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Gold Enters Major Bull Market


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 By bluejay

10/14/2020  1:35PM

Barrick Gold CEO Mark Bristow on Wednesday said the gold industry in Africa should consolidate further, as he warned of a "serious reserve crisis" looming for the sector. A dearth of exploration has seen average mine life across the gold mining sector fall from 20 years to closer to 10 years, he added, speaking at the Joburg Indaba mining conference.

“The prospect of a serious reserve crisis is looming,” said Bristow. Gold production across the industry has only increased by 1.6% every year for the past two decades, he said. The Barrick CEO then said this week's deal between Northern Star Resources and Saracen Mineral Holdings was a "great example" of industry consolidation that should be celebrated.

While underground gold reserves held by major mining firms continue to be low and falling, new reserves are becoming increasingly harder to find as resources are used up, and exploration is costly. Major mining companies have a few ways to remedy their shortages. They must either discover new underground resources through exploration, or acquire them via the takeover of junior development companies.
 By bluejay

09/26/2020  7:21PM

Gold recently made an effort to move higher as it approached 1950 but got nailed with the Dollar showing some minor strength, pushing higher to a close on Friday at 94.57.

Nor too much more is expected from the currency as a few months back it gave way when 96.00 on the chart broke down and that level currently represents resistance from a significant 1000 day moving average day average.

Holding the Dollar back from really crashing benefits many as 80% of the world loans are tied to the U.S. Dollar. If anything, gold's recent strength got a little ahead of itself.

Of course, the Fed is somewhat paranoid of gold being established above the $2,000 level as the last few times attempting to get close to it they pick up the phone to Blackrock and instructed them to sell paper gold on the Comex. Of course all their connected big NY banks get this information before it falls and they short all the related gold and silver stocks prior to those orders reaching the market,. What isn't manipulated these days? From a 1934 created law, the Fed has the authority to manipulate ANY market in the world.

The Fed will never be able to manipulate the current established bull trend in the gold market which is on its way towards $50,000 plus in late 2025 that has been running since 2003. Actually, James Sinclair has forecast a price in 2025 of $87,000,

So, what really does this quick little weakness mean in the overall gold(and silver) market lately? Considering the big picture, meaningless.
 By bluejay

08/19/2020  12:14PM

Recent gold buyers getting whipped by the Fed with gold at around $1946.00.

This is all a little game to scare people away from voting against their mad house printing presses and to keep you into their losing game.

Thus cooked up selling is just a pale childish prank, totally ignore it.

A great probability is Warren Buffett is using this weakness to buy more Barrick Gold.



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