Friday Perspectives, Gold, oil, nat gas, bonds, $C, Kl.toWe have come through a strange week:
Texas weather anomally, WTI shot upwards, Natural Gas shot upwards.
Long Term Bond Yeilds Shot upwards
With oil price up, ( Trudeau take note) $C went up to touch 80cents us.
Gold shorts had $1750 in their sights. I think they might be close enough to take their profits and the Canadian shorts will go to their ski cabin in Collingwood, or Whistler and the NY shorters will enjoy their Cuomo totalitarian lockdown by checking out Florida real estate on the internet.
With the oil/natural gas frenzy subsiding, $C has fallen off to 79 cents.
The long term bond yeild rise has negative implications for the stock market. On the face of it gold becomes less attractive. But, ironically, the cost of borrowing will increase, companies will have to pay more for money, employment will be threatened, house sales will be threatened, the fed may try to buy long term bonds to mitigate, more money printing, more destruction of value of us dollars, gold will stand firm.
In my peep2 rivaling meandering, I see a bottom for the latest gold shorter attack, a 50 cent boost for KL in $C, based on a 1cent drop in the $C, and a possible bump in KL when we stop fearing a sustained free-fall in gold.
So, a jittery note of cheer on this Friday morning.
cleareye.