Post by
merlin991 on Mar 15, 2021 2:08pm
Back on track.. operation twist is on
Very likely the end of the down draught. K92 coming back nicely.
Fed speak starting tomorrow and probably sell short end and buy long end treasuries to get the 10 year down.
We have had no recent announcements but there is likely 2 or 3 significant items coming. Blue Lake and Kora drilling will likely be good and a new resource estimate perhaps. March 29th is the results discussion day so we are a couple of weeks away.
We are probably heading back past 7 very soon. The Comex shorts were down 50% from Jan 5th to Mar 9th (value $41b to $21.5) and very likely even more now. We will find out Friday when the reports come out. The other category of longs is likely higher too. This all points to an escape price for gold. For the Feds the price of gold (keeping it down) is less important than the important 10yr yield.
The Feds can't let debt interest expand. A 1% rise means around $1T out of their budget with the extra interest.. That's a lot out of their carriers missiles aircraft.....and of course food stamps.