OK - so I really am a little fed up with this week. What a week it has been!
Now, for those of you who don't know I make videos for my YouTube channel
(insert shameless promotional hyperlink here here)
https://www.youtube.com/backyardbullion
As many of you may know, YouTube is a right pain in the ass for monetising a video. So much so that most of the time I film my videos 36 to 48 hours in advance and let the YouTube algorithm eviscerate the video before it gets manually reviewed and monetised.
So, when I made a video on Monday morning of this week - my topic was going to be focusing on the recent "flash crash" of silver we saw at the end of last week. I filmed the video, edited it together and uploaded it.
All good, so you might think!
Then as one of my favourite comics, Stephen Colbert said, "The Monday stock market looked at Friday and said, hold my beer!" Monday was a pretty epic day for the stock markets - and for the wrong reasons! We saw the HUGE crashes in markets across the world and consequentially we saw the spike in gold and silver prices - the safe haven assets.
All of a sudden my video, scheduled to go out on Wednesday, talking about a flash crash of silver (when prices were going up) was suddenly redundant. So, I decided monetisation be dammed I need to refilm this video.
Which I did. At that time, Cryptos were in free fall with bit coin around the $6000 mark and many others with huge drops too. I focused on making sure to buy within ones means and to invest responsibly and to try and make sense of the recent drops.
Well, low and behold Wednesday evening into today (Thursday afternoon) Cryptos have recovered hugely - stocks and shares have stabalised and gold and silver have PLUNGED!
Which has made my Wednesday video REDUNDANT all over again!
I feel like I have been on a pretty epic rollercoaster ride this week. I was 100% certain that gold and silver were in for a few weeks of growth - but boy was I wrong.
I guess it is part of the fun of having an active investment that you can see changes on a hourly, daily or weekly basis. But boy is it frustrating!
Now to the good news - gold and silver have gone down a lot. The banks are talking about interest rate rises, which should drop prices a little bit further.
This means that there will be some cheap silver and gold to be had in the next few months for sure!
Anyway - it is all Gits and Shiggles as they say - if you enjoyed this post please remember to upvote, comment and share!
All the best
Backyard Bullion