Post by
psych01 on Apr 04, 2023 10:18am
Gold Rush
Sudden rush to buy gold---why? IMO
Comment by
crazytimes on Apr 04, 2023 10:33am
Good question! Short squeeze?
Comment by
psych01 on Apr 04, 2023 10:35am
technically is see why---2yr 10yr yield going down, USD weaker, some geopolitical realities---but the huge uptick in POG imho still isn't warranted; not complaining, good for traders and I dabbles a bit here and there. IMO
Comment by
Bartjens on Apr 04, 2023 11:08am
FED announced they will slow down or stop the rise of interest rates. Inflattion is still much higher then fed funds so real interest rates remain n egative. Historically this has allways been good for gold. Many other factors in play, but real interest is a major force.
Comment by
Deutz9170 on Apr 04, 2023 11:29am
I think it also it has to do with the bailout the Fed. handed out, in response to the banking crisis last month. Being able to redeem the bonds the banks purchased at face value. Is a tremendous about dollar creation. Last week I read, 400 billion has been redeemed. There would be trillions upon trillions to liquidate.
Comment by
psych01 on Apr 04, 2023 11:51am
And--Jamie Dimon commented today that Banking Sector is still not out of the woods, more pain anticipated. IMO
Comment by
Stratocheif on Apr 04, 2023 1:31pm
Puin and Xi Jinping announced a couple of days ago they will drop the US dollar. People rushing to safety