Since I received a like I will continueKitco News - nobody is in gold
Traders are ramping up short positions on gold, with fund managers more bearish on the metal than any other time over the past four years, according to a Bloomberg report.
The .....bears have the solid overall .... advantage. Bears' next near-term downside price objective is pushing futures prices below ....$1,600.00.
Gold should be at $1000 according to another Kitco expert, Wow that is really cool !
Opinion - me
Since march 2022 all gold stocks in tsx are down + 60%, the worst sector af all sectors (not stocks here but a whole subsector)
every cent the US dollar goes up is a lower 2-3% for gold stocks. Should the US dollar go to $150 as in the 1980s gold stocks will be at 0. I see resistance however for the US dollar at 1.30 and the gold price at$1000 and ABX at $5
I see bears salivating at the low volumes in gold stocks ,check it , way below 20% of all other sectors, and they jerk off at each resistance level planting more flags with that jailhouse grin, inviting more friends ot the orgy, and gold stocks will then go into capitulation.
Capitulation after losing 60% can easily mean another 80%. the bears are totally in control, have the great advantage and the short money is now happily leveraging gold to 1500 1400 1300 1000.Abx goes to $7 by december.
Analysts on tv will talk about gold and the risks.Hosts will happy look at the guests at they explain 'weakness in the sector, support levels and outlook for crypto. Gold is in a risky position, risk risk risk risk is the only word out there.
Gold is dead, uranium too by the way.
Travel apps and food delivery services are where the billions are.
Oh and those 12000 bitcoin varieties too .the zillionaires loving and supporting crypto are the ones shorting gold stocks.