TSXV:TUO - Post Discussion
Post by
highper on Apr 16, 2024 4:45pm
Gold commentary
another shareholdere mailed me this tweet
Gold is sniffing out monetary and geopolitical dystopia A powerful force is stalking the world’s gold market. It is operating in the shadows. None of the normal footprints are visible on the London bullion market or the Chicago Mercantile. Retail goldbugs have not been buyers: ETF gold funds have been shrinking since December. “It is not a Western institution behind this. It is a massive player with very deep pockets. I have never seen this kind of buying before,” said Ross Norman, a veteran gold trader and now chief executive of Metals Daily. Gold has been ratcheting up fresh records against the headwinds of a strong dollar, a 70 point jump in 10-year US Treasury yields, and hawkish talk from the Federal Reserve. This mix would normally spell trouble for gold. Whoever it is – or they are – seems insensitive to cost. Central banks do not behave like this. “They buy on the London benchmark and they don’t chase the price,” said Mr Norman. This rally is happening off books in the OTC market. https://finance.yahoo.com/news/gold-sniffing-monetary-geopolitical-dystopia-144304645.html https://x.com/chigrl/status/1780258243157094638?s=51&t=GdxxtXVUAUQiIoJOhLLc3Q Gold is sniffing out monetary and geopolitical dystopia A powerful force is stalking the world’s gold market. It is operating in the shadows. None of the normal footprints are visible on the London bullion market or the Chicago Mercantile. Retail goldbugs have not been buyers: ETF gold funds have been shrinking since December. “It is not a Western institution behind this. It is a massive player with very deep pockets. I have never seen this kind of buying before,” said Ross Norman, a veteran gold trader and now chief executive of Metals Daily. Gold has been ratcheting up fresh records against the headwinds of a strong dollar, a 70 point jump in 10-year US Treasury yields, and hawkish talk from the Federal Reserve. This mix would normally spell trouble for gold. Whoever it is – or they are – seems insensitive to cost. Central banks do not behave like this. “They buy on the London benchmark and they don’t chase the price,” said Mr Norman. This rally is happening off books in the OTC market. https://finance.yahoo.com/news/gold-sniffing-monetary-geopolitical-dystopia-144304645.html
Be the first to comment on this post