DXY finally bounced a little: The Australian dollar still red hot: Gold turned volatile as it rockets higher: Oil is still a yawn: Dirt was mixed: Miners fell: EM stocks too: Junk eased: Yields keep falling: Nasdaq looks toppy as S&P fights for support. Europe is stuffed by its rising currency: Westpac has the wrap:
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Bitcoin becomes pointless gold price plagiarist
The yoking of Bitcoin and gold is one of the strangest phenomena in contemporary markets. On the one hand, gold is the ultimate safe-haven asset. On the other, BTC is the least so. One is eminently importable. The other absurdly the opposite. One is pure physical reassurance backed by thousands of years of human history.
All time gold price high saves ASX
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
JPM: Gold to the moon
Via JPM: According to JPMorgan’s Nikolas Panigirtzoglou, retail investors appear to have been mostly behind the recent rally (although the Robinhood army has yet to fully engage), and indeed the buying of physical gold ETFs, a major vehicle used by retail investors, rose steeply in recent weeks, making this year already the strongest on record with still
Gold surges toward decade high
by Chris Becker With yet another industrialised nation announcing a record government deficit (Canada this time with $300bn, close to our own $240bn), and central banks furiously papering up over massive cracks in the global economy in the wake of the coronavirus pandemic, it’s no wonder that the Minsky Metal is on a tear, almost
Gold shines on struggling ASX
The Australian dollar is still trying to push higher this morning. The chart is still bearish: Bonds are stable: Stocks are struggling despite another drunken night on Wall St: Big Iron is OK: Big Gas is struggling: Most of Big Gold is coiled in an ascending triangle pattern looking for break out: Big Banks are
Australian dollar strapped to the golden rocket
DXY resumed falls last night: The Australian dollar was pretty soft all things considered: Gold finally broke out to new closing high: Oil struggled: And dirt: Miners were strong: EM stocks too: And junk: Bonds were soft: The great bubble inflated some more: Westpac has the wrap: Event Wrap US Administration spokesmen continued to discuss the
How does gold reach $3000?
Via Goldman: Historically, gold’s relationship with inflation is non-linear. Gold does not display a strong correlation with inflation while the latter is moderate but becomes strongly correlated when inflation gets above a certain threshold. Gold also tends to go up moderately in deflationary environments. In fact, we find that what matters most is the deviation of inflation
BofAML: Gold to $3000
BofAML calls it: Gold prices have performed well in the recent period As the ultimate store of value, gold prices have performed well during the past 15 months, posting a rally of over 10% since the Federal Reserve did a monetary policy U-turn in January 2019. Gold has also delivered a strong performance against other asset
Gold breaks out. Why?
Here it is: In Aussie dollars it is very shiny: Yet most prominent local miners are lagging badly (with a few notable exceptions) What gives? It’s not entirely clear why gold is rallying given DXY is also on a charge. There are two possible explanations. First, as COVID-19 threatens a pandemic, gold is bid as
Will gold save the Lucky Country?
Clyde Russell asks an uncharacteristically stupid question: Is Australia the ultimate commodity hedge? When looking at the country’s natural resources the focus tends to be as its status as the world’s biggest exporter of iron ore and liquefied natural gas (LNG), and its competition with Indonesia as the top shipper of coal. But this ignores
The case for gold explodes
Literally like a mushroom cloud. AUD gold is at a massive new record highs this morning ans still climbing: Why? Get a load of this lot. First, after further US/China trade tariffs, CNY is crashing: Markets now fear that Trump will order his Treasury to intervene in the USD, a big bullish gold play. Second,
Gold to 10k?
Bitcoin not so golden after all?
Here’s the chart: The BTC news flow has been a bit rough with Barclays pulling the pin: The most prestigious banking relationship in crypto has ended. Barclays, the London-based global bank, is no longer working with cryptocurrency exchange Coinbase, industry sources told CoinDesk. And while Coinbase found a replacement in U.K. upstart ClearBank, according to
Gold (and…ahem…Bitcoin) in safe haven boom!
Australian dollar gold is at new record highs today: Amusingly, “digital gold”, otherwise know as Bitcoin, is also on the charge: And its relationship with gold is holding: This is kind of impressive, in its own way, given the Trump Administration has declared war on it, suggesting it is the precise opposite of a safe
Gold bull market over or just getting started?
Van Eck is bullish, at the AFR: Joe Foster, who picks gold stocks for VanEck’s 63-year old International Investors Gold Fund, said Australian gold miners are generally well managed but are unusually prone to locking gold prices into multi-year hedge arrangements. “Australians have more of a propensity to hedge than their North American counterparts. I
Ray Dalio: Buy gold
Via Ray Dalio: One of my investment principles is: Identify the paradigm you’re in, examine if and how it is unsustainable, and visualize how the paradigm shift will transpire when that which is unsustainable stops. Over my roughly 50 years of being a global macro investor, I have observed there to be relatively long of