Sean K
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- Joined
- 21 April 2006
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JP Morgan might have opened some longs too.
The BIS have now closed their short position in gold. The BIS are now actively accumulating gold as are the other CBs.
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The end of paper price manipulation has pretty much arrived. There may be some attempts into January 2023, but pretty much it's over.
jog on
duc
I got back into Gold last night at the open, above the price where I previously got out, I made the decision to trade each leg up. The gap was unfortunate for my entry point but it didn't surprise me, there are gaps all through this chart. Gaping into resistance can be a reversal point but obviously I think this is the beginning of the next leg up. We shall all see what unfolds, if I keep my risk down in the trade then I'll still be ok if it doesn't work out.
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And this is working both way, China is rushing to get out of the us right now.I suppose just like manufacturing and other ventures, US is slowly withdrawing. The JPM move could be to diversify from CCP influence...
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Good point about the peace @qldfrog,And this is working both way, China is rushing to get out of the us right now.
China owners of US assets are selling or disengaging.
This is good for gold as not so good for peace/the world.
From Zoltan Pozsar:
Zoltan Pozsar: Gold At $3,600 Is Not Improbable If US Refill Reserves With Russian Oil
In his latest dispatch, Credit Suisse contributor Zoltan Pozsar shifted focus on his ongoing series about Bretton Woods III wherethedeepdive.ca
jog on
duc
I fully expect a significant pull back tonite in the US market, as the manipulators flush out the last of the gold bugs.
Watching the action today, noticed that silver stocks in particular are having a down day despite the positive moves in Silver overnight.
Almost all of my gold stocks down or at best neutral, despite t gold having a slight increase overnight.
Once this next leg down is in, I will start adding selected gold stocks to the portfolio.
Of course, I could be completely wrong.
Mick
It all seems to be trending with perception of inflation/interest rates at the moment. If there's a report that supports increased interest rates - USD up / POG down, and vickiversa.
Increased interest rates increase the rate of inflation.
This is how it works:
View attachment 150279
With the Fed disclosing a $1.25T dollar loss, no longer is the Fed remitting interest payments to the Treasury. The Treasury has to accelerate bond issuance to make up the shortfall.
Meanwhile, via the RRP, the Fed is paying Banks $500M/day (in freshly printed reserves) to NOT lend their $2.5T+ in excess reserves, so as not to fuel further inflation.
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At least QE was somewhat balanced: the Fed removed bonds for cash. Now, the Fed just prints $500M+/day to give to the banks.
The higher interest rates go, the more they pay the banks. A rising interest rate, as gold has figured out, is inflationary.
jog on
duc
Raising rate is a design to curb consumption and cool economies, Weimar economy or Zimbabwe during Mugabe had high even hyper inflation yet we can not really say that either had too much consumption or heated economies.ROLHere I was thinking that raising rates was a design to curb inflation...
I did not mention also the raising of rate to counter a local currency collapse but that is not relevant currentlyRaising rate is a design to curb consumption and cool economies, Weimar economy or Zimbabwe during Mugabe had high even hyper inflation yet we can not really say that either had too much consumption or heated economies.ROL
Not all inflations are the same IMHO..
the market place might be dearer , but the products will be more suited to local supply and demand ( and possibly shorter supply chains )Good point about the peace @qldfrog,
I am going to miss the One World / Global Marketplace days...and all those cheap manufactured goods !
I suppose on the positives you mentioned, could be good for Gold long term and maybe for the environment too with more durable goods that could last a lifetime like in the good old days. With less going to landfill with the 'use it once and throw it out' mindset these days with manufactured goods and plastic gadgets.
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