The Spot Price of Gold Bullion jumped $64.30 per ounce today (+3.34%), reaching a cost of $1987.30 per ounce during regular market-day trading. Once the market closed, Gold continued to rise, reaching $1993.70. as of 5:42 PM eastern US Time (+3.68%).
This is taking place because people are pulling cash out of Banks and out of Stock Markets, and rushing to WHAT THEY ***THINK*** is the "safety" of Gold. In fact, what most of them are doing is buying "Paper" Gold . . . . allowing someone ELSE to hold the actual metal for them. If things in the financial markets continue NEXT WEEK, as they've been going this week, all those "Paper" Gold holders . . . . may find out the hard way, they have nothing. Only people who took actual delivery and have the gold in their own hands, are safe.
According to a new study reported by the Wall Street Journal, one-hundred eighty-six (186) additional banks have the same issues that faced Silicon Valley Bank before it collapsed.
Given that this is now being publicly reported - albeit DELIBERATELY after the markets closed on Friday -- this weekend could result in an actual "Black Monday" when markets re-open on the 20th. (We will all have to watch pre-market conditions when futures trading opens up Sunday night.)
Given all the government activity last weekend, as Silicon Valley Bank and then Signature Bank collapsed, it is entirely feasible that government action may also take place this weekend.
What will YOU do if the government orders a "Bank Holiday" next week, and none of the banks can open? What will YOU do if all the ATM's, credit, and debit cards are OFFLINE for a Bank Holiday? That could mean every store would be CASH ONLY; No credit, Debit, or even EBT cards! How will you eat? How will you put fuel in your car?
You had better prepare while you still have a slim window to do so: This weekend.
