At the Gold Rush, we have been highlighting central banks aggressively buying Gold as one of the biggest drivers of this precious metals bull market. Poland was the largest buyer in the second quarter, adding more than 18 tonnes.
These are not small players nibbling at the edges... Central banks are the ones who can move markets.
Additionally, the VanEck Gold Miners ETF $GDX is experiencing record outflows, even as it surged to new all-time highs. That is the definition of a market climbing a wall of worry.
We believe that all of this is fuel for the bull market, rather than a reason to be cautious.
It's not just Gold that's in a primary uptrend.
Silver is approaching the same level it failed to break in 1980 and 2011.
Platinum is resolving a multi-year base.
And Palladium is emerging from a textbook bearish-to-bullish reversal pattern with momentum on the side of the bulls.
Let’s walk through the charts:
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