Another Chinese property developer collapsed this afternoon in Hong Kong (dropping a massive 87%) before it was halted. Shanghai based developer Sinic…racing #Evergrande to the bottom. Get ready for a banking crisis in #HK AND #China
Today's scene in a particular wholesale store in China. Doesn't matter the physical buying of #gold continued, the financial market still thinks inflation is temporary and hence ditching the yellow metal.
#Sold almost all my #uranium positions today. I have been invested for more than 10 months. Have made #multibaggers throughout. I shifted all earned capital into #silver#mining stocks today. Inflation is in full swing and it's here to stay. I am now almost all in silver!
Shake, shake, shake the gold bugs.
Shake them all the time.
Shake, shake, shake the gold bugs. Shake and rob them blind.
My Algo’s name is da destroyer
I tell you friends, it’s a crusher
When gold bugs get too excited..
- Harry Belafonte’s famous song about gold bugs.
Most of the price decline and volume happened in a few minutes. The breakdown below $1,810 support was blasted with over 5,000 contracts ($1 Billion) in under a minute.
Back to a key battle area, support:
Gold Update: Tuesday Will Be Important
By Gary Savage
I doubt we will taper this year. The miners were the object of the attack last week.
Gold is still in the ballgame but we do not want to see another attack on Tuesday to stop its momentum.