There has been a lot of misinformation circulated in the mass financial media as always, this time regarding the reasons why gold and silver prices have spiked recently. Almost all mass media financial outlets have posed the question, “How long the ‘coronavirus-based’ gold and silver price spike can last?” Asking this question is conflating correlation and causation, a mistake frequently made by the mass financial media. For weeks, I have been stating that gold and silver prices were basing for a significant price spike higher on my skwealthacademy news site, even writing two months ago that gold and silver prices were readying to bounce higher soon. So the fact that gold and silver prices spike higher during recent growing concerns of the coronavirus spreading outside of China does not make it the primary reason why gold and silver prices have indeed spike. This would be like stating that, because a migration of thousands of geese took place over Seattle during a large 8.0 magnitude earthquake, that the correlated event of migrating geese was responsible, and not shifting tectonic plates, for creating the earthquake. Can you imagine the ridicule such “news” establishments would receive if they ran headlines stating “How many aftershocks will continue based upon the continuing geese migration?” Yet, the mass media always receives a pass for horrible journalism. As my skwealthacademy patrons know, I have been recommending them to buy gold and silver since gold was $1,180 an ounce and silver slipped below $14 an ounce in Q4 2018. Did the yet unknown coronavirus cause gold and silver prices to rise since these prices all the way up to the end of this month?
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