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Bullboard - Stock Discussion Forum American Creek Resources Ltd V.AMK

Alternate Symbol(s):  ACKRF

American Creek Resources Ltd. is a Canada-based junior mineral exploration company, which is engaged in the acquisition and exploration of mineral properties, principally for precious metal deposits. The Company’s projects include Treaty Creek and Austruck-Bonanza. The Treaty Creek Project covers approximately 114 square km in the Skeena Mining District of northern British Columbia and is... see more

TSXV:AMK - Post Discussion

American Creek Resources Ltd > Typical algorithm response
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Post by FastTrade on Apr 10, 2024 9:55am

Typical algorithm response

Today's CPI data came out showing a hotter than expected rise of inflation for March, and the programmed algo's programmed to auto sell gold kicked in.
The program on automation that the Fed will fight inflation harder if the CPI increases from one month to the next calling for automatic decreased inflation protection directed at gold couldn't be more utterly flawed.
What rising inflation is showing is a need for inflation protection all the more and that the Fed has lost the inflation fight with current rates.
No one is expecting rate hikes to fight inflation now when the Fed wants nothing more than to drop rates to avoid an economic crises at this time.
The algos are just a program - not designed to think or reason selling gold via outdated automation in dire need of being scrapped.
Nonetheless , the temporary drop in the POG and temporary is all it will prove to be, has thinking foreign governments and certain individuals happily buying the dip.
Comment by Stockmoves1 on Apr 10, 2024 8:39pm
I will not take anything away from your post but Heh' Gold has run hard and fast and went higher than we ever anticiopated on this run. I am looking for a healthy pullback eventually here that may last aprox 6weeks B4 another run.. One would now expect a double top and some time to consolidate cloers to 2270/2330... The next major run may not be until Fall and when we go thru $2500 we will be ...more  
Comment by FastTrade on Apr 11, 2024 4:11am
Foreign central banks have been buying gold like never before taking advantage of any Fed-speak or CPI related algorithmic sell-off and dip in price along the way, while continuing to buy the tops into daily new records. This is not going to end anytime soon. Retail investors have still not gotten on board en-masse as they still believe the Fed lie they will corral inflation unaware the Fed has ...more  
Comment by Stockmoves1 on Apr 11, 2024 8:56am
Well put FastTrade... Most do not wake up until it's hindsight !! 3k Gold here we come ...
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