Gold

[JBmurc]

It's hard to tell from here re gold.
I've just bought the dip.
Trump doesn't take office until January so I wouldn't be surprised to see a rebound and new highs between now & then.

yes, also during TRUMP last run in office, GOLD did pretty well moving upwards 67%

I think the strength in the USD + general markets saw risk trade come off ..

but how long this will last...


I think we will see plenty of factors, namely another inflation surge from TRUMP spending / tax cuts ... lower rates

[Daytr]

Gold smashed overnight.
Have things changed?
Is the bull run over or just an overdue correction?

[Bjauck]

Traders are moving out of gold into the USD. If inflation and US interest rates start to move up under Trump then that trend could continue. If Trump is more conciliatory with China and Russia, maybe they won’t see the need to continue to transfer their reserves into gold?

[Aaron]

CWX and RXL

OBM has fairly recently gone into the green and is up 257% on my purchase price but I purchased it back in July 2020 so not quite breaking even over the three picks after just over four years.

Just had another look at my portfolio OBM was up about 148% it was NST that was up 257% (over a longer time frame) just in case you were wondering where I got my numbers from.

[Daytr]

Traders are moving out of gold into the USD. If inflation and US interest rates start to move up under Trump then that trend could continue. If Trump is more conciliatory with China and Russia, maybe they won’t see the need to continue to transfer their reserves into gold?

Agreed, and I suspect quite a bit has moved from gold to bitcoin as well.

I suppose my question is more medium term,.I.e we are seeing the reaction to Trump’s win, but will he actually deliver on his promises.

[JBmurc]

Agreed, and I suspect quite a bit has moved from gold to bitcoin as well.

I suppose my question is more medium term,.I.e we are seeing the reaction to Trump’s win, but will he actually deliver on his promises.

many commodities getting hit just look at WTi Oil down 5.63% for the weekly , Copper down 5.18%,Palladium down 9% , Silver down 6.31%

But of course, all in the strengthening USD ... in our local currency GOLD is nowhere as bad....NZD GOLD = $4400oz ... the peak $4650oz one year ago was $1201oz cheaper than the present!!!!


from trading economics >

Gold traded around $2,620 per ounce on Tuesday, hovering close to a one-month low after sliding more than 2% in the previous session, pressured by a strengthening US dollar and reduced demand for safer assets. Investors continued to shift towards risk assets as markets evaluate the broader implications of Trump’s election victory on fiscal strategies and monetary policy. The likelihood of tariffs being imposed early in Trump’s presidency could spur inflation, heightening expectations that the Federal Reserve may delay its easing cycle next year. Elsewhere, data from the World Gold Council shows that Indian gold ETFs’ holdings have doubled over the past four years, reaching a record 54.5 tonnes as of October 31st.

[Daytr]

Big move of ounces out of ETFs & Comex in the first week of November. ETFs down 12 tons alone. I'm surprised the price isn't lower. Apparently there was good buying out of Asia.

I picked up a small position again overnight.
I'm not overly convinced though but I think much of the hot money will be gone.
Much will depend on the dollar as you point out JB.

[JBmurc]

Big move of ounces out of ETFs & Comex in the first week of November. ETFs down 12 tons alone. I'm surprised the price isn't lower. Apparently there was good buying out of Asia.

I picked up a small position again overnight.
I'm not overly convinced though but I think much of the hot money will be gone.
Much will depend on the dollar as you point out JB.

Yes well known TRUMP wants a much lower USD .. how he can achieve this and how GOLD re-acts will be interesting...

[Daytr]

Yes well known TRUMP wants a much lower USD .. how he can achieve this and how GOLD re-acts will be interesting...

Trump wants a lower USD? Really?
Where do you get that idea from?

[JBmurc]

Trump wants a lower USD? Really?
Where do you get that idea from?

he has stated this many times .. better for US exports etc

Trump Wants a Weaker Dollar. That Will Be Easier Said Than Done.
Markets are betting that a Trump presidency would mean a stronger dollar

https://www.wsj.com/finance/currenci...-done-b5eca8f1

https://finimize.com/content/trump-w...for-the-states