Bullboard - Stock Discussion Forum Sokoman Minerals Corp V.SIC

Alternate Symbol(s): SICNF

Metals & Mining Industrial Metals & Minerals

Sokoman Minerals Corp. is a discovery-oriented company with projects in Newfoundland and Labrador, Canada. Its projects include Moosehead Gold, Fleur de Lys, Grey River Gold, Kepenkeck Gold, Killick Lithium, Crippleback Lake Gold, Startrek and Iron Horse. Moosehead Gold property includes 98 claims totaling 2,450 hectares adjacent to the Trans-Canada Highway in central Newfoundland. Fleur de Lys... see more

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Sokoman Minerals Corp > Strong USD Aids Dedollarization and Au Supply Deficit

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Post by geezer21 on Jan 08, 2025 4:19pm

Strong USD Aids Dedollarization and Au Supply Deficit

With the recent dollar index rise to its current level of 109.03 as of this moment the price of gold,rather than fall inversely to USD, has remained elevated.

https://stockcharts.com/sc3/ui/?s=%24USD
https://stockcharts.com/sc3/ui/?s=%24GOLD

This change in the inverse relationship between the DXY and gold maybe the result of China (and India, Turkey, other central banks, and institutions) having the ability to purchase more gold with their U.S. dollars increasing the demand for gold and clearing gold out of LBMA's dwindling inventory.

A stronger dollar aiding dedollarization is creating a gold supply deficit taking down LBMA inventories that annual gold production cannot fill.

https://www