And it came to pass last night, briefly touching $1308 before settling at $1303. All on US$ index weakness of course.
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And it came to pass last night, briefly touching $1308 before settling at $1303. All on US$ index weakness of course.
I like the way your thinking JBmurc, I'm hoping for the usual slam down though as I need to top up on miners and more physical then to the moon thank you.
Gold (USD) on fire. This leg up from the 13th Dec is almost starting to look parabolic.
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Hi Peat, you are right it has gone too quickly too fast. I would like to see a correction soon but I think that the long term trend is up.
last hours for 2018 competition entries
The major driver for POG is the falling US$ index. It has just slipped down past the psychologically important 90 mark.
Yesterday at Davos US Treasury Secretary Steven Mnuchin said that he welcomed a weaker US$. That of course put further downward pressure on the dollar index. Down a further 1% overnight. All positive for gold,silver and other metals.
One of the best Bull runs in USD Gold I've seen for some time..Glad to have my PM positions >>
GOR up from sitting around 70c going nowhere to a close at 84c yesterday.
Awaiting the PoS to catch up....
The US$ index may be oversold and due for a bounce up, so we may get a short term pull back in POG.
https://thedailygold.com/what-the-st...d-gold-stocks/
I do not subscribe to Jordan's newsletter but I find his free commentary interesting.
I'm sure if I scroll through this thread ill find it eventually and I apologise in advance, but is someone able to recommend a method for purchasing gold here in NZ. Ive never purchased gold but am looking to add some to my portfolio which is currently heavy in cash and equity's.
Rising and higher interest rates may in fact be bullish for gold prices, simply because they are typically bearish for stocks. ... Gold prices increased by more than 150% during 1973 and 1974, at a time when interest rates were rising and the S&P 500 Index dropped by more than 40%.