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As we get back to business this week, we hope you had a blessed holiday season.
Investors are getting excited about 2021, and Gold & Silver Central will be delivering you the latest news in precious metals and investing as we transition out of this tumultuous 2020. We hope 2021 will be prosperous for all our readers.
Now let’s dig into today’s news…

Price
The Gold Bull Market Rages On
Since gold hit its record high price of $2,075 on August 7, Midas Touch consulting warned of the temporary end of the gold rush. Over the past four months, the market has made a volatile correction, with many pullbacks towards the support zone between U.S. $1. 850 and U.S. $.865. By November 9th, gold prices had just recovered back to US$1,965 when the final bloodbath phase began quite abruptly. In the following days, with their fifth attempt the bears were finally able to break through the aforementioned support zone, forcing the gold market into a small panic sell-off. After all, this sell-off ended on November 30th with an intraday double low at US$1,764.
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Economy
Bitcoin Rally Has Investors Asking, ‘Is This the Peak?’
The recent rally in Bitcoin is strangely similar to the rally that took place in 2017. Although the range of price throughout the rally is somewhat different, the structure of price throughout the rally phase is very similar. Our researchers believe this similarity suggests a peak may be forming in Bitcoin and the big volume on Monday, December 21, 2020, may have represented a “blow-off peak” in price. The following Weekly Bitcoin chart highlights the three rally phases that took place before the peak level was reached in December 2017. Pay very close attention to the structure you are seeing on this chart and the highlights we’ve made to help you understand how the price structure is being mirrored in the current rally phase.
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International
Festivals Boost Singapore Demand While India Gold Discounts Widen
Physical gold discounts rose in India this week as buyers remained on the sidelines, while demand in Singapore and other Asian hubs ticked up as buyers took advantage of lower prices ahead of holidays. Indian consumers avoided gold purchases due to Khar Mass, a period considered to be inauspicious that runs from Dec. 15 to Jan. 14. “People are more focused on holidays than making big ticket purchases,” said Mukesh Kothari, director at Mumbai gold dealer RiddiSiddhi Bullions, adding demand would remain subdued next week.
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Commentary
The Psychology Behind Money
The world stands on the threshold of monetary hyperinflation with the US dollar leading the way. The final months of fiat money are coming into view. What will replace them — bitcoin or gold? This article argues that the final solution is bound to be with central banks and government treasury departments retaining their control as issuers of money by the only means at their disposal: deploying their gold reserves to back their currencies, not as fiat, but as credible gold substitutes.
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International
UAE Under Fire Amid Reports of Dirty Gold Trading
There are no mines under Dubai's sands with artisanal miners or children toiling away trying to strike gold. But there is the Dubai Gold Souk and refineries that vie with the largest global operations as the United Arab Emirates (UAE) strives to expand its position as a major gold hub. In recent years, the UAE, with Dubai in particular, has established itself as one the largest and fastest-growing marketplaces for the precious metal, with imports rising by 58 percent per annum to more than $27bn in 2018, according to data collated by the Observatory for Economic Complexity.
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Commentary
Here’s Why Gold Always Rises in January
How about a fun festive fact to lighten the gloom? asks Adrian Ash at BullionVault, straightening his paper crown. The gold price always goes up in January. Or rather, gold has risen in each of the last nine New Years running. Yes, every January since 2012 gold prices have ended the month higher than where they ended the old year. A repeat next month will make it a remarkable 10 out of 10 for US Dollar gold prices. It will also mark a stark contrast with gold's more usual 52.1% strike rate across each month over the last decade. What makes the gold price rise like this at New Year?
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Thanks,
Gold Silver Central

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