TSXV:OOR - Post Discussion
Post by
Fishercat1 on Dec 21, 2023 1:02pm
Humm Gold And Lithium To . Perfect
| Gold appears to be settling in and making itself at home above the $2k line. With the Fed waxing dovish, tension building in the Middle East, lower bond yields, and a weak Greenback serving as solid fundamental support, the metal is currently testing the $2050 zone. | |
| According to Daily FX, Federal Reserve policymakers have this week struck a dovish tone with most speaking about the amount of rate cuts needed in 2024 with very little push back besides the odd comment about monitoring data moving forward. The only push back in terms of comments came from Policymaker Barkin saying that he thinks inflation is more stubborn than the average Fed official.
Sold Out of One Ounce Bars... Again
There's probably no better evidence of a growing appetite for the precious metal than news out of retail colossus Costco that it sold $100m worth of one-ounce bars in its most recent quarter - Costco gold bars were a hot holiday buy — while they lasted.
When quizzed on what consumer trends Costco was seeing this holiday season, CFO Richard Galanti replied, "They're buying gold." | |
| Galanti previously said the company sells out of its gold inventory "within a few hours" of the products being listed online.
Kitco Is Down
Kitco, a website many in the gold and silver arena rely on for the latest metals-related newsflow, has been down for multiple days due to a security breach - Gold Retailer Kitco’s Website Disrupted in Cybersecurity Incident.
“Our website is currently experiencing a disruption due to a cyber security incident. Our team is actively working to resolve this issue as quickly as possible. We are committed to ensuring the security and integrity of our services and apologize for any inconvenience this may cause.”
With the trade in precious metals proving especially buoyant in recent weeks, now is not a good time to be down. | |
Be the first to comment on this post