The transactions come as Turkey intensifies its defense of the lira amid the ongoing war with Iran. Turkey has been one of the world’s most aggressive buyers of gold over the past decade.
Gold, silver and gold stocks also enjoyed a good up week. Kinross, for example, increased net earnings, record free cashflow, raised its dividend. They need more work to suggest that a low is in but the action was encouraging. The correction was steep but not unusual based on past history of gold bull markets. This week we get U.S. Q4 GDP final, PCE prices, CPI and Canada's March job numbers. And the war continues.
One question looms that could have an even bigger negative impact on stocks than rising energy prices: Suppose Republicans lose big in November? Even if the GOP is able to hold onto the Senate, the first order of business for a House controlled by the Democrats would be to impeach Trump.
The Canadian North has for too long been ignored by Ottawa.
Vast in landmass but low in population, the three territories have for decades been underrepresented politically and the national government has been content to let resource development occur there by private corporations under the watchful eye of local First Nations.
Gold's trend remains bullish on the monthly chart, the weekly chart under the 18-week moving average giving a bearish bias with no trend and not yet oversold.
