My charts dont confirm this, last week had a high of $1214 (using Oanda) CMC Gold (Cash) also has no record of such a spike.
Printable View
HI Peat, I use www.ino.com and acrooss the top of the page are the major markets, gold, oil, dow etc. If you click on the chart for gold "one month" you will see it.
It will only show on a bar chart showing open/high/low/close for that day. It won't show on a "close only" chart.
Some of my gold stocks the only green ones today in my whole portfolio. EVN and NST just ,atm
Yes everything outside the mid-cap to larger Gold miners all my micro-caps flat to down ... just purchased some NCM via CFD .. I really think Gold will break north tonight just far to much risk in the markets falls should continue Asia markets crashing hard currently ... Good old Bitcoin down 5% LOL so much for safe haven
seems to be a double repo buy underway on the weekly XAUUSD
Unusual! POG and the US$ index are both up about .3% overnight and they have both broken upwards clear of their 50 day moving averages.. normally when one goes up the other will go down.
This article suggests it is a hedge against the US dollar falling.
https://www.cnbc.com/2018/11/01/gold...ree-years.html
I wish I understood the gold market, without the central banks buying would the price of gold hold up? I should really look at production total etc etc. I have vague memories of someone explaining this to me earlier in the thread probably JB.
Good to see central banks still consider it a currency/financial asset.
Thats cause the central banks are continuing very worried around the fiat credit system that since the breakdown in 07/08 has been fixed by just extenting the credit ...
the Libor rate is close to double last years low
The London Interbank Offered Rate is the average interest rate at which leading banks borrow funds from other banks in the London market. LIBOR is the most widely used global "benchmark" or reference rate for short term interest rates. The current 1 year LIBOR rate as of October 24, 2018 is 3.04%.
And 1-Year US Treasury Yield ends the month at 2.69%, its highest level since January 2008.
Global stocks had second-worst October in at least the last 30 years
Conclusion Global debt is spiralling out of control ... Increasing debt at a more rapid rate than income is not sustainable indefinitely.
just look here in NZ to the household debt to income we have been flatlining at 150-166% since GFC .. so IMHO thats telling me many households are tapped out (or if NZ property starts to fall we could say Trapped)
GOLD / SILVER is anti DEBT
US$1262 an oz atm.It is now 1% up in one year!. My Goldies are very green in a sea of mainly Red.:blink: