Post by
FastTrade on Oct 05, 2024 12:51pm
Influence on the POG now and where its headed.
With the US dollar up and gold simultaneosly down a bit but holding its own and not collapsing, I decided to not wait for the down months of Sept/Oct to pass before saying anything more on the subject.
Starting off with the dollar jumping up due to the latest US jobs report, I expected as much would materialize many months back to give the democrats the boost they would need prior to the November election.
That it would amount to a lot of sensational hooey for maximum effect just long enough for the voting public to be swayed to vote democrat before it all disintegrates.
They did a fine juggling act with the jobs numbers waiting until September to create a whirlwind of new jobs - in fact 86% of the latest blockbuster number of jobs created in time for the September jobs report were all government jobs that only burden the economy with more debt and does not bolster it as they would have you believe.
The remainder being unrevised part time and service sector jobs that outside of two or three of those menial jobs barely pay a workers expenses.
Its hardly the vibrant economic picture in real life that they have furtively painted in time to sway voters their way when its the opposite that's true.
Nevertheless, the bogus mainstream narrative being dished out has brought down interest rate decrease estimates a notch and bolstered the dollar for now.
Such being the case, gold should be sliding further but the downward trajectory has been halted due to mideast tensions.
The all important question here is where is gold headed now?
-Nowhere but up my friends nowhere but up!
After the US election and whatever chaos that may ensue thereafter at home and across the world - gold is headed skyward.
When the latest jobs report is revised lower in the next month as they all are now, and the support of the current blockbuster jobs numbers are made apparent in that most were newly created un-productive government jobs along with steadily declining manufacturing jobs - the public will come to know they've been had well after the election has come and done.
The narrative handed down by the media to the public is one of alls well with the economy - and will remain that way at least until after the election.
The truth be damned and will remain obscurred from the public for now.
After the election interest rates will continue as before in their downwaed projection. The dollar will resume its decline. And the Govt. whoever will be in power the next 4 years will along with the Fed, be faced with opting out for mountains more of renewed QE that can and will culminate in declining dollar value and eventual runaway inflation later into the final qtr of 2025 into 2026 and beyond.
As for gold - no stopping it !
Central banks around the world have seen the writing on the wall in where the US and the dollar is headed and will continue to protect and build up their own currencies with gold backing and acquisition that won't end anytine this decade.
The real push - the gold bull - is only in its infancy.
Comment by
FastTrade on Oct 05, 2024 9:45pm
NL you've clealy missed the point altogether.