China and Russia continue to buy more and more gold.
Big surprise the FED left rates unchanged. It was amusing watching the CNBC crew try and make sense of anything the FED is saying. They are promising rate hikes if certain data conditions are met and even though they have been they still aren’t raising rates. Now they are saying we are really considering December IF data supports it “We will wait for further evidence of continued progress towards our objectives”.
While, most are calling for a December rate hike. I bet they will not raise rates in December either. The GDX (Gold Miners ETF) is up almost 6.5% on the news and gold is up as well 1.4%.
In the video below, Paul talks about the extreme size of the bond market and the major risks that it presents. Of particular interest is from around 19 minutes onward in the video.
He does mention gold as a safe haven and I believe silver is a great place to invest as well.