Last Wednesday in New York the spot price of gold shot up from $1200 to nearly $1300 before settling back to the 50 day moving average of $1200. Now why would anyone {presumably a professional} want to spend $1300 when with patience they could get it for $1200. Any conspiracy theories or inside knowledge welcome.
My charts dont confirm this, last week had a high of $1214 (using Oanda) CMC Gold (Cash) also has no record of such a spike.
HI Peat, I use www.ino.com and acrooss the top of the page are the major markets, gold, oil, dow etc. If you click on the chart for gold "one month" you will see it.
HI Peat, I use www.ino.com and acrooss the top of the page are the major markets, gold, oil, dow etc. If you click on the chart for gold "one month" you will see it.
yeh i see that on the ino chart.
i wouldnt read too much into it if it is not shown on other providers charts - i checked Kitco and they have no record of it spiking that high. It could even be a data error.
Some of my gold stocks the only green ones today in my whole portfolio. EVN and NST just ,atm
Yes everything outside the mid-cap to larger Gold miners all my micro-caps flat to down ... just purchased some NCM via CFD .. I really think Gold will break north tonight just far to much risk in the markets falls should continue Asia markets crashing hard currently ... Good old Bitcoin down 5% LOL so much for safe haven
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
Unusual! POG and the US$ 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.
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.
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