The AUD is down a little through the morning with no misbegotten RBA utterances to keep it aloft: XJO is down marginally: Aussie bonds are up: Bitcoin and gold are upperer: Dalian is soft: Big Iron up anyway: Big Gas is meh: Big Gold to the moon! Big Banks are all over: Big Realty is
DXY fell hard Friday night. EUR jumped, CNY fell: The Australian dollar was firm: Despite the bounce, the market actually got more short AUD last week at -65k contracts: Gold tried and failed again to break out: Oil rose: Metals were soft: Miners too: EM stocks fell: High yield too: Treasuries were bashed: Bunds smashed:
The Australian dollar is soft in the circumstances of a falling DXY today: Bonds are madly bid: XJO is thundering towards record highs as the equity risk premium surges: Dalian an outright bubble now, ignoring all bad news: Not so much Big Iron: Big Gas is ignoring bad news too: Big Gold is moon shooting
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.
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
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
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
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
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
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
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
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
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
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
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
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
DXY cratered to new lows last night: But the AUD fell as well against everything: Including EMs: All it took was one thinning jobs report. Gold stalled but if both DXY and AUD are going to fall then local miners are in clover: Brent wants to correct but is being held up by the falling
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
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
Dalian is selling today: Big Iron is up anyway: BHP and RIO are both pushing towards break out lines. RIO is right on it and if it can break through then $72 and $86 beckon: The Big Gas re-rating continues as the disastrous Do-nothing Malcolm attacks AGL instead of the pensioner killers. No end in
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
Dalian is firm today but going nowhere really: AUD is rampaging towards 81 cents: Which is capping Big Iron: And Big Gas: Big Gold is mixed: Big Sleazy is at new lows: Big Spruik is mixed: The ASX is at the brink again of its descending triangle: The rampaging AUD may push it off…
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
Dalian still down: Big Iron flat a with BHP pushing hard at break out: Big Gas is weak, except Santos which is re-rating as the government sticks its head in its energy arse: Big Gold is on fire. I’m still a seller into strength on the basis that the DPRK will fade and USD is
Dalian has opened OK: So too Big Iron with BHP and RIO nudging break outs: Big Gas is stable, more than can be said for pensioner energy bills: Big Gold is powering. I’m still a trading seller into this strength. DPRK tensions should fade: Sleaze Bank has opened a trap door: And is rapidly approaching
