Post by
CommonCents123 on Apr 05, 2024 1:11pm
GOLD'S RISE ISN'T A BAROMETER OF GOOD THINGS TO COME...NOT
Although Mr. V was correct about gold's rise, he got it COMPLETELY wrong where it counts with Sherritt's demise. I am still correct in that all commodities tradeing in USD are impacted by US Interest rates, gold is one a commodity that is influenced by the environment when bad stuff is going on. When its quiet on the geopolitical front then interest rates do play a role in its value.
The record high in gold is a reflection of the FEAR in the world at the moment.
I don't see interest rates coming down after todays jobs report. In fact brace yourselves for a possible increase in rate. We're headed into summer and that usually when more is happening economically. More jobs, more spending etc. Inflation may be on its way up and if that happens, rates will be too. This will push down commodity prices like Ni. Sherritt will need to sharpen its focus to produce the cheapest ni around, and even then they can't sell it to the usa.
https://asiatimes.com/2024/04/a-novel-analysis-of-golds-skyrocketing-surge/