The next big wave of sell-off will be there only if they fall below yesterday’s low.
That’s because gold buyers piling into exchange-traded funds (ETFs) are taking a pessimistic view of the U.S. Federal Reserve’s ability to cool decades-high inflation without hurting the economy.
No joy anywhere. But if we are headed for a mini-crash then we are reminded that while everyone gets hit the golds have typically been the first to recover.
What might be happening is we might be transitioning into a sideways trend, consolidation before gold can break the $2,000/oz.
I'll keep an open mind about this if the targets get smashed, but I'm not convinced the stock market has begun the punitive reset it has needed so badly for years.
Positions as of 19 April, 2022.
Huge attack in the mining stocks yesterday and in silver. Oversold conditions coming about.
Rising gold prices clearly hurts the credibility of the Fed trying to bring down inflation.
The attack on the metals looked very bearish on Tuesday, the Fed is very desperate to fight inflation, and there will be more attacks. Right when there is a breakout, when traders...
The battle for $2000 gold continues and the horrific tension between the governments of the East and the West intensifies. The citizens of America are fiat-oriented while the citizens of the rising empires of China and India are focused on gold.
Purchases of gold exchange-traded products (ETPs) hit a record in March, while investors pulled record amounts from domestically-listed European equity funds as..