Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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Nice start to the day!
$1790 was the. 100 day moving average, next stop $1820 say the charting wizards.
And Golden Cross Due 1830-40 depending on speed of movement.
Yes we just missed the death cross in gold, however as Uncertain, who I very much miss, would have said is this a dead cat bounce or the real thing and how can we know as we cannot see inside Shrodinger's box. Will we see the golden cross or the death cross next? What a funny time in gold but I thoroughly agree with InstantExpert's article and have kept posting that gold should be the inverse of the real interest rate (ie TIPS) not the nominal interest rate it is inversely tracking, and at some point this must come right; I only see real rates falling - the true result of the much higher inflation we are seeing with only slightly rising rates. Along with our recovery we should be in clover in later 2022/2023. Anyway to some good news for another I have hung on to, at least my tiddler Omi is more cheerful this am up 40% so far, though overslept and missed nabbing more at 8.01 as still too sleepy!
Morning.
Looking good here and very good for Gold.
It will be interesting to watch AU price in one hour when Wall St opens, possibly more tricks left .
U.S. TREASURY 10-YEAR YIELD FALLS TO SESSION LOW 1.395%
Shaken not stirred MrBond?
Aye - so only about a 3% loss on your money at that rate (which is more like 8% in the real world).
Make that 1.385
ISM Services dropped to 60.1 in June, way below expectations. Employment and inventories dipped below 50.
#StagFlation baby
TREASURIES EXTEND ADVANCE; 10-YEAR YIELD FALLS TO 1.355%
Got yield?
Hi Sotolo, Razorsedge tracked me down on CASP and said you had mentioned me. I am not currently invested in gold miners but amexpecting a larger increase in the price of oil. I just thought I would drop in here and let you know I am still alive.
The trade weighted dollar exchange rate may have more to do with the current rise in gold IMO. Is the cat dead? We shall have to wait and find out? Pobably is though.
DXY pump in play as the S&P craters - it's never simple is it? :)
uncertain,
Can we hear your Bull case for Oil. Its already near $80 Brent ! I think rise in oil is just getting a head of inflation. Saudi won't want it much over $75 as it will hurt world economies. If Goldman say its going to $100 its usually best to take the other side of that trade.
Hi Uncertain,
Good to see you pop up here again. I am watching but not posting much at the moment. What is there to say other than we've got down again and are a bit stuck. Looking good from next year and particularly the year after IMO but just have to hope gold stays strong for long enough for the market to start pricing that good news in.
Good luck playing oil.
Best wishes,
Prof
Hi Auson, Oil has been rising by about $4 a month since last November in a pretty straight line. I am aware of the problems of relying on extrapolation, but this had been a very steady performance. The argument is that we are now in the upswing of the oil supercycle, but a reduction in exploration, exacerbated by the pandemic, and pressures from environmentalists (with good cause) are also helping. There are cracks opening in the agreement in the OPEC/non OPEC meetings (particularly UAE) but the unilateral reduction of the Saudis has been important. I agree with your opinion of Goldman, but they came late to the party in relation the bull forecast and are just playing catch up IMO
RUSSIA WEALTH FUND CUTS DOLLAR HOLDINGS TO ZERO
LOL
Break out the popcorn :)
And now the game goes on.
Knock the price down dumping paper, the buying physical, in it's place.
But where and who takes the loss.
The mugs.
I revere your ancient footwear Mr Bond.
You appear to have played this game before.
The precise 100 day moving average is actually $1792.40 (that was yesterday) and the price is holding above that so far tonight.
I just hope it's just men in suits finding their rent money and $1800 is regained when the European markets open later today.
IE