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I will just keep adding on the dips when funds allow happy to just tuck these away for a few years tbh
Let me know when we get to 30p dave, then I might sell some! ;)
Once we get the last few PI sellers cleared we look ready to fly, paying above offer now :-) 16.2p
15.98p BUY !
Whatever you think of Bitcoin or Cryptocurrencies, generally (multi-currency systems always hold some libertarian appeal) there is no way the US Treasury nor the US Federal Reserve is going to stand by and watch USD$600b+ or so splosh about and traded daily in completely unregulated and dark markets for much longer, the axe cometh and soon!
I give myself a little lattitude when posting Cremator, to account for the swings, as it hadn't properly breached $1890 ;)
LIVE SPOT $POG
https://www.bullionvault.com/gold-price-chart.do
$1890 Rich!
Gold now over $1880 (currently $1882).
I was wondering what kind of turnip was selling this now, having seen a few sales, with gold rocketing and crypto crashing....then realised obviously that this is the usual effect when over-leveraged PIs (or anyone else) have to sell their good things to fund their mess-ups elsewhere!
Ah yes - China has started to properly crack down on crypto. Chop chop slowcoach America.
Bitcoin in full tank at the moment, is that cash circulating into AUX?
Make that $15 and still going.....someone really lit a rocket under it today......
Nice bounce back in gold in past 15 mins. Just gained nearly $10 in 15 mins.
booboo - yeah the reaction on VOD (which I hold just a small chunk of) has been nuts in recent days. Bargain there after a weird reaction to pretty solid results considering a pandemic and now the indexes down. I don't like averaging up but getting tempted....
Sell off on everything today, the indices futures are heavily down too, one of those days where everything must go!
Look out for the US Federal Reserve Minutes tonight at 7pm.
https://news.sky.com/story/rate-of-inflation-more-than-doubles-in-just-one-month-to-1-5-12310503
Looks like today's the day for the inevitable jump in US treasury yields and so the inevitable pullback in gold.
They can't really raise interest rates a meaningful amount anyway. With debt everywhere, from the government to the average joe, and everywhere in between, that'd likely spark a vicious cycle of entities that can't afford repayments, knocking on everywhere. Sure they might try increasing by fractions of percent at some point, and hope it makes people think more rises might come, and everything's under control, but it'd only be a bluff, and the market would probably know it.
If gold does pull back, it'll probably be more to do with the US 10Y treasuries rising, in a further sign the doo-doo is heading fanwards, but would temporarily suppress gold.
That’s not going to happen though is it? The Fed’s Deputy Chair (Clarida) said tonight that they are nowhere near the end of tapering asset purchases (USD$120b a month in treasury and mortgage securities), let alone raising interest rates. In fact nowhere in the Federal Reserve System are any of the Presidents or Governors even remotely suggesting that?
I have held on Shanta. I have a small amount of CEY in an ISA but have sold most of my holding on that stock for a small profit. The pull out from CEY does mean I can keep overweight on Shanta that should outperform CEY in H2. A telling story for me today was the interview with Blackrock on Bloomberg this afternoon. In that interview the Blackrock spokesperson has said that a failure to get a handle on inflation, is now leading to significant number of companies suspending the new hiring of staff as companies fear the costs coming down the pipeline along with a proportion of their customer base unable to deal with higher costs for their products in the months ahead. As a consequence the FED sitting on their hands is accelerating the unemployment rate instead of reducing unemployment. It was now necessary to increase rates for the FED to achieve its fuller employment mandate was a strong view held by Blackrock.
This suggests to me that gold is on a temporary high. This is further evidence by having hardly any rally in AAZ and Shanta and only modest rallies in some other gold stock. The pound has moved higher against the dollar as another head wind. I am of the view that gold does a pull back soon and the real gold and gold miner rally is much later in the year. We shall soon see if my hunch is wrong. Whatever happens I have cash to buy Shanta or any other gold miner on a pull back and still hold some enough if this is the real McCoy rally. Wishing everybody good luck and good health. Tony
https://www.bloombergquint.com/business/gold-advances-as-investors-weigh-bond-yields-retail-sales
US 10 Year slightly up and the US Dollar Index slightly down, but negligible in both and we are still enjoying a 1%+ rally in AUX, bodes very well if we get a meaningful slump in either!
Look out for the US Federal Reserve Minutes this Wednesday, sooner or later they will signal a shift from buying shorter term maturity treasuries at a clip of USD$120 a month to more medium and longer term ones (10s and 30s) IMO.
And if / when that happens you’ll see AUX rocket IMO as the real long term negative performance on Bonds becomes clear.
Definitely clearing out a lot of sellers and gold's just taken another jump up to 1860.
15p