“And, a few tonnes of gold in the basement would definitely help!”
We’ve been up here, in this 1320 - 1360 range, 6 times in the last 6 years
… each and every time the sell side manipulators have smacked it down hard
… ignore the fiscal facts of Armageddon on 1) exploding world debt,
2) exploding US budget deficits, 3) exploding geo-political risk from Europe
to Asia to the U.S., and 4) ignore the fact that China has just decided to
explode liquidity … their version of QE. “And in all this, gold is at the same
price it was 6 years ago”? … sure.
Directly below, the charts on the SP500 & gold.
click any chart to enlarge
Finally, a little uptick in the range of gold … hopefully, this portends an
further increase in the days and weeks ahead … make no mistake, though,
in order for gold to be optimal, it needs consistent ranges in the $15+ range,
and right now we are nowhere near that. I took out the XAUGBP, because on
further investigation, the round turn commission was enormous, and makes
the pair too expensive to trade ... maybe in the future we'll look at it again.
… Onward & Upward!!
Have a great rest of your weekend everybody!
-vegas
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