RE: Tomorrows job numbers will be the catalyst for GOLD to move back upToday 09:47
There’s a controversial article penned by Tom Stevenson of Fidelity touching amongst other things , on the slide of gold and his basic premise is gold shot up at the time due to FO,O only , pretty much ! Also he goes on to more or less expound on his theory that holding gold doesn’t pay any income etc etc whereas at least bond yields do. Of course interest does get paid on bonds etc. I’m assuming he’s also thinking along the lines of , ‘ why isn’t POG escalating rather than detracting amidst global warfare , etc when it historically has ?
However I think it’s clearly more than just a fomo fad. Otherwise why are central banks stockpiling gold ! Interest rates are not decreasing atm however inflation is a thing ! And real interest rates will expose this.
I am more in the camp of this lower level ( remember it’s still relatively high at $4000 ) being a shorter term correction and a lower high moving ultimately to higher highs in due course.
As others have quite rightly said , we are printing monies hand over fist. We’re cash rich. Have a tungsten mine to dispose of. Have a debt facility now actioned and have a monster new mine to print even more billions with.
This is why I added.
I don’t actually’know ‘ what games the big boys and girls are playing but for sure there are obvious profiteers that we PIs can’t even begin to touch !
But in the end , that also tells us something doesn’t it.
Greatland are now in the big major leagues. Who’d have thought it all those penny years ago !
GLA!
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