The AUD is bid this morning as DXY sinks:
Bonds remain pancaked:
Stocks are up a little:
Big Iron is struggling:
Big Gas is down:
Big Gold is marching as the metal hit an all-time high this morning. Macquarie’s stupid Friday downgrade now forgotten:
Big Banks are sinking again:
MB Fund has been buying gold equities on the dips for much of the year. I see it going much higher. Though be warned. It is volatile.
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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DXY and 5 year TIPS following each other down……gold going the other way
https://twitter.com/jessefelder/status/1287409976223309826
10 year TIPS minus 0.937 % at last weeks auction as well…….this means real rates minus 1 % as far as can be judged
Negative rates – gold positive
Declining faith in the monetary / banking system – gold positive
Inflation – silver (and commodity complex) positive
silver looked the goods this morning.
Something worthy of note:
Monday, two weeks in a row 0400 GMT/1300 AEST Silver has spiked ~ a dollar.
That’s Mumbai open.
Seems like they’re driving some of the gains.
is the MB fund looking at any explorers? or are you restricted to producers? Or is it simply governed by the min mkt cap you can buy into ?
I think their gold plays are with larger, safer gold miners – such as NCM
and SAR ?
Fascinating that the general comments here for years are hell bent on Australian property prices being a speculative bubble and the same time advocate buying gold at higher and higher prices. Gold is the ultimate speculative vehicle. But, I guess it’s shiny.
I’ve been bullish on silver since late March and started buying back then. I thought it had more upside than gold is all.
Gold has made an idiot of many people though.
No, no, no
Gold is not the USV
It is a store of value, nothing more nothing less. I could go on
While all around devalues gold is keeping your wealth the same
Everything has its time
Gold is an insurance policy against money printing and negative interest rates – the price of gold will drop (but not to zero) if central banks manage to rescue the economy, rates normalise and we return to 2-3% annual growth rate.
Lol. I actually laughed at the notion of this:
If central banks manage to rescue the economy, rates normalise and we return to 2-3% annual growth rate.
I think that is a good reason for the bid up on gold. People sont actually believe that.