RE:Re:May be we will have a good week ahead
psych01 wrote: The U.S. Fed minutes indicate that they might be relaxing interest rate hikes--'only' 'only' 50 basis points in December, maybe. That could dampen the 10 year bond yield, help gold; if the USD weakens a bit it will help also. Crypto has taken a major hit so some might come back to gold. Can't hurt I think. Then, if we get the official go ahead for Haile underground, could be a bounce. Any recession data is good for gold. But this sector, the juniors and intermediates have come into disrepute, we're hated and that's about that. Happy Thanksgiving to our American friends. IMO
US wasn't planning any rate hike over 50 points anyway, and in fact they cannot do more than that. Relaxing means, they just stop the rate hikes at this point. The real pain of current rates will be felt in the next year, after this holiday season. People are still in the free money mood and spending spree.... Everything will come to an end. That is the real time for gold boom.