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ftse futures ++1.30%.....bounce......
copper 9555
tin 39k
gold 1795
The news so far says new variant is mild in terms of illness impact... let's hope it remains this way. My worry is if you find a new variant with more mutations, what incentive do you have to declare it quickly? From what has happened to SA, eg restrictions etc, you get flight banned immediately...
Wall Street Breakfast
The newly discovered Omicron coronavirus variant has the world on edge, with a lot of questions surrounding its infectiousness, ability to cause serious disease and to what degree it's able to evade the immune response from prior infection or vaccination. The strain first identified in South Africa was dubbed a "variant of concern" last week by the World Health Organization, sparking fresh worries it could prolong the nearly two-year COVID-19 pandemic. While no cases of this variant have yet been identified in the U.S., the CDC is "continuously monitoring" the situation and many say it is only a matter of time.
Snapshot: The Omicron variant has about 50 mutations, more than 30 of these are on the spike protein that allows the virus to bind to human cells. The receptor-binding domain (i.e. the part of the virus that first makes contact with our cells) also has 10 mutations, which is far greater than just two for the rapidly spreading Delta variant. The high level of mutation means that Omicron likely came from a single patient who could not clear the virus, giving it the chance to genetically evolve (a similar hypothesis was proposed for the Alpha strain).
Meanwhile, the first South African physician to raise the alarm over Omicron has called its symptoms unusual but mild. For example, none of her patients experienced a loss of taste or smell, considered as hallmarks of the disease, but rather showed up with body aches and "feeling so tired," according to Dr. Angelique Coetzee. Other South African scientists and health officials have also said there were no signs so far that Omicron led to more serious illness.
Go deeper: Americans need to be prepared to do "anything and everything" to fight the Omicron variant, White House chief medical advisor Dr. Anthony Fauci said Sunday, adding that it's still "too early to say" whether lockdowns or new mandates will be appropriate. More definitive information would become available in about two weeks, though it is important to take note that other "variants of concern" - like South Africa's Beta and Brazil's Gamma - did not take off around the world as initially feared. "There are lots of unknowns," added Sharon Pea****, director of the COVID-19 Genomics U.K. Consortium. "It's so important to stress how much we don't know at the moment about this new variant."
mick-b,
and Silver ... not so much.
It seems to me of late the Gold price has a bit more get up and go than Silver price
I have just had a foreboding thought . Given the Corona is here to stay , and Omicron has over 50 mutations..the most so far , what happens if the virus makes a quantum leap mutation, in terms of increasing both contagion and seriousness , to the extent that if you catch it you die , and it keeps on mutating and becoming more serious until we all die...is that really beyond the realms of possibility ?
It would certainly bring an end to global warming !
candidinvestor,
You can say what you like about the quality of Chinese manufacturing, but they sure know how to make a good virus.
Could be just what the planet needs. The root cause of all the major problems we face is crazy human overpopulation & unnecessary excessive consumption. As we as a race seem unable, unwilling or both to address the real problem perhaps the planet will do it for us. Wouldn’t be so bad for the long term good, be sh*t awful for most of us now though :)
This has always been the case… we develop more vaccines to stop- simple
Remember that the current vaccines will also cover mutations- to be proven on this one but likely- we have the same flu year on year and the vulnerable get vaccinated- heck, I’m just over 50 and I take one lol
A bit threat has been the more we hide away the more susceptible we’ll be to existing viruses as our immune system won’t get exercised
Gold can have a mahoosive rally in short term, $2400, Physical Gold already priced at $1861
Gold down again even though German Inflation Surges to 6%. What's it going to take to make it move? Perfect conditions, but it does not move.
I'm starting to lose my confidence that we're going to see a significant rally. Not sure what will make it go up.
Our planet has been almost completely ruined and so many species of driven to or on the brink of extinction by the greed and excesses of mankind, possibly it would be justice and may even save the planet if the virus eradicated the species that has some misguided cense of being more important than any other species?
In the meantime our richest nations and their corrupt and greedy political masters have the opportunity to tackle the pandemic and bring about change for the better by forgetting the cost & profit involved and instead start sending free vaccines to all the countries that don't have access to them at present!
Gold ain't going anywhere much until those with the biggest levers take the brakes off and that most probably wont be anytime soon!
Auson...you might just have hit the nail on the head ..am I right in thinking it's widely known that the virus escaped from a Chinese laboratory , rather than a local fish market in the coincidental same location as the laboratory ? I haven't seen any official publication or document concluding this ?
Would it be taking conspiracy theories to the limit to suggest it was a serious setback in the Chinese intention to use viral warfare in the future ?
Regardless, the Chinese have admitted they have a viral research facility in Wuhan, so nobody seems to have asked the obvious question , what the hell were they doing researching and experimenting with a virus so deadly ? ( assuming of course that is what they were doing )
Thing is though , I like the Chinese ;. they have a far better menu option that the Indian one across the road..
@MrTibbles: what's your best guess for when those with the 'big levers' release them?
Are you bearish on gold?
It's interesting to se that Singapore bought so much earlier in the year. I am guessing that their purchase of 26.3MT was the primary reasom for the rise and hence the rise in CEY.
Wow, some crazy thoughts in this thread. Viruses aren't clever, and usually peter out as the mutations do as much harm to the virus as good. Look at what's happened in Japan recently. Their mutation has rendered the virus fairly innocuous. Please don't scare people if you don't really understand viruses. A massively reduced human population would lead to all sorts of new problems so be careful what you wish for...
Bought back into my crypto, and some travel stocks (but with stop losses on the travel ones to protect against the virus Omni becoming more deadly) - although this is unlikely from current media.
On gold- so hard to predict- seems like it must stay above 1780 to prevent real damage. Markets bounced back overall, and crypto off the recent low, gold seems to be @@@@ all...
And yet the boom we got from inflation a couple of weeks ago which has gone, but inflation hasn't.
Gold is the hardest I can predict in ages....
It rose so well, but not a lot seems to make it stick, for now....
Hi Canetoad,
No certainly not bearish on gold because according to a wholesale trader I know physical demand is still strong and there is an increasing lead time at refiners.
It seems from the evidence available to wholesalers that the POG is being held back by those who control the levers to allow the unwinding of paper positions prior to next year.
I think it's pretty obvious that mankind's selfishness, greed and exploitation is responsible for most of the environmental damage to our planet.
I fail to see how a massively reduced human population could be anything other than a great help to preserving the planet.
Especially if the virus could wipe out most of the corrupt buggers that control some countries at present!
It's no good trying to control the spread by just inoculating those in the countries that can afford to pay for vaccines , the people in the poorer countries need vaccinating as well, otherwise we shall all be existing in masks and reoccurring lock downs.
Mr T, I've still got a stack of Kruggerands my Grandad gave me years ago... for a rainy day :-)
I was researching if there was anything on average gold prices for the previous 6 months to get a handle on what the second half revenue is likely to be .
I couldn't find anything , but I discovered this website , which I have posted a link to
I don't know the credibility of the site , but there is a forecast gold price tab which doesn't look too promising .
I don't know how to read and make sense of technical analysis , but I wouldn't have drawn the same trajectory lines into the future that they have .
I am of the general opinion that these kinds of analysis and projections are akin to horoscopes in that you can read into them what you choose to, and that when the situation unfolds into something different to what the charts suggest , they just change the chart !
The history of predicting future prices or events is an interesting area. The success rate is appalling.
J M Keynes 1929 " There will be no serious consequences in London from the Wall Street Slump"
RAND Corp, 1960's "a permanent lunar base will be established long before A.D. 2000.."
USA, 2001, "weapons of mass destruction..."
Paul Ehrlich, 1968, "In the 1970's the world will undergo famines - hundreds of millions of people will starve to death ...."
Then there are the more recent Covid predictions, say no more
You would wonder why people bother to try and make predictions? A: They get paid for it Next question is if the rate of success is so low, why do people pay other people to make predictions? A: Madness/social conditioning
James Glasson, 1999 "Dow 36,000" ...well we are nearly there!...so the argument goes that some of the predictions will be true, if you wait long enough?
When dealing with a market derived price mechanism (lets assume fair, fully informed etc), then the question is supply and demand
Gold supply is limited by diminishing exploration successes (been diminishing for decades and I predict it will get worse), and slow rate of bringing mines into operation..think 15+ years, more ESG, regulations, lacking attractive destination for speculative money (why bother with gold mining, get better returns on "the market")
Gold demand seems to be increasing, from central banks, ETF's
good luck in the future!
the gnome