Is Bitcoin back?

Bitcoin is back: I won’t even pretend that this is sustainable. Nothing has changed for crypto in my book. It is as worthless and useless as ever. With the same inbuilt contradiction: that if it succeeds it can only fail, given it’s only purpose is subvert a fiat currency system that it does not control.


Gold shines for Australian dollar bears

From some dill at Domain: Gold has just had its longest winning streak in 18 months, as investors get nervous about the impact of the Trump trade wars on economic growth, and the US Federal Reserve looks likely to cut rates. Once again, excitement surrounding the “quasi-currency” metal is building – and the gold bugs


The Fed gooses the golden egg

by Chris Becker Gold has tracked higher alongside the Trump government shutdown and following the January FOMC meeting overnight, has now burst through the $1300USD per ounce level to make a new six monthly high priced in USD: The Fed’s shift into a somewhat dovish stance was not based on the underlying US economy – although


Gold rising as China lifts its reserves

by Chris Becker What’s going on with gold? While there has been some recent weakness in the US Dollar Index, 2018 was the year for USD against almost all the major currencies as the US Federal Reserve continued to lift interest rates in an attempt at normalisation. Still, the price of gold in USD rose


Sell gold! Or why the US dollar is not going to weaken

Via Bloomie: The U.S. dollar may be poised to decline, according to Goldman Sachs Group Inc. Comments from Federal Reserve Chairman Jerome Powell on Friday boosted the chances that the central bank will pause interest-rate increases, strategists at Goldman wrote in a note Saturday. Powell cited the events of 2016, when rates were kept unchanged through


Gold hits record high in Australian dollar terms

by Chris Becker Yesterday’s flash crash on currency markets had another silver lining – the price of gold in AUD reached a new record high at over $1879AUD per ounce: It’s been a near rocket ride since the equity slump, proving gold’s usefulness as a Minsky Metal in times of stress: Although the daily chart


Is gold proving its worth as a safe haven?

Goldman says so, via Bloomie: Goldman Sachs Group Inc. says that “fear” has made a comeback and gold is benefiting as stocks slide and investors fret more about the possibility that the U.S. economy may tumble back into recession. Bullion’s recent advance “happened on the back of the market sell-off and spike in volatility,” analysts


Desperate goldbugs cling to sinking safe haven

Via Bloomie: Don’t write off gold in the battle of the havens. Bullion has lost out in a paradigm shift where the metal’s no longer viewed as the traditional refuge when investors are in a risk-off mood, but that won’t last, according to Rick Rule, chief executive officer of Sprott U.S. Holdings Inc. Investors are


Gold again proves disastrous as a risk hedge

I’ve been having this conversation regularly lately. Gold is falling and breaking support just as global markets tilt towards a possible risk accident: Once again gold is proving that it is the absolute opposite of a cyclical safe haven. When markets crash so does it. Notice that exactly the same thing during the GFC, even


Gold’s tough road is too congested to last

by Chris Becker It’s been a tough road for those long gold, particularly in USD terms, with the “precious” metal losing over $100 per ounce in the last two months: This is part of a secular decline, with gold being in a bear market for over seven years, having peaked at $1920USD per ounce in September


Why is gold not shining?

It’s supposed to be looking up for gold, with increased consumer demand and a series of central banks, including Russia, dumping US Treasuries to buy the shiny undollar. So why are prices – in USD terms at least – in the doldrums? According to the World Gold Council, overall demand in Q1 2018 was down


Is gold a hedge for trade wars?

Via Bloomberg: Gold will surge to the highest level in five years if a global trade war breaks out, according to Rick Rule, chief executive officer of Sprott U.S. Holdings Inc., who’s been involved in the market for four decades. Bullion could top $1,400 an ounce in 2018 as escalating trade tensions drive investors to


Is gold the hedge you need?

From Birch Gold Group: It is generally well known in economic circles and in the general public that precious metals, including gold, tend to be the go-to investment during times of fiscal uncertainty. There is a good reason for this. Precious metals have foundation qualities that provide trade stability; these include inherent rarity (rather than


Is gold forecasting inflation?

Gold priced in USD has had a great start to 2018, up nearly $100USD per ounce since the early December 2017 trough and capping a great 2017: Alongside other commodities, the driving force behind the appreciation is the weakening USD, but there’s also other factors involved in gold’s revival, as it approaches its 2017 high


Golden parasite fastens to WA Libs

Sigh, at the ABC: The gold industry is pulling out all stops in its fight to defeat what it claims will be a job-crippling royalty increase. From taking out large newspaper advertisements to inviting key media figures to dinner at fancy restaurants, the mining lobby is leaving no stone unturned in its battle against the


Big Sleazy catches a bid as Big Iron fails break out

Dalian is trying repair overnight damage today: Big Iron is down sharply. BHP and RIO failed at largish double tops, at least for now… Big Gas is soft but the pensioner abuse specialists continue their predictable but appalling re-rating: Big Gold is off sharply. I remain a seller short term: Big Sleazy has caught a


Big Sleazy breaks to new lows

Dalian is trying to rebound: BHP is still nudging breakout: Big Gas continues its re-rating with exporters down and the domestic gougers flying: All I can say to that is, what a pack of bloody idiots we are. Big Gold is powering, working beautifully as portfolio insurance. I’m still a seller here for the short