US Dollar sagged after the last week's Trump press release and while the US dollar and US stock market suffered, Gold, rose up to $1200, and other commodities gained strength.
"The gold price in 2010 adjusted for inflation was the same as the price in 1265." - book Extreme Money
Gold futures became more expensive during the European session, gold is constantly rising in price. Of course there are jumps, but they are so piddling that you should not even pay attention to them.
My (real) money is down on the table today that gold/silver and plethora of other metals are now on the way up. We've seen the bottom, my call.
Not exactly a commodity future but keeping on the gold theme..... World's biggest gold ETF launching new low-fee fund - source Reuters Friday May 04, 2018 15:02 Kitco News LONDON (Reuters) - The World Gold Council, owner of the world's largest gold-backed exchange traded fund (ETF), is launching a new fund with a cut-price management fee to fend off rivals with lower charges, a source familiar with the matter told Reuters. The move is a sign that cost competition among gold ETFs is heating up after a price war in the much larger equities ETF sector slashed management fees. Gold ETFs allow buyers to invest in physical gold without having to buy and store the metal. The council's SPDR Gold Trust (GLD.P), which launched in 2004 and trades using the ticker GLD, dominates the industry but its share of total bullion held by gold-backed funds has slipped below 50 percent from 75 percent at the start of the decade, Reuters data show. GLD's gold holdings have risen 5 percent since the start of last year while rival iShares Gold Trust (IAU.P), which is run by investment manager BlackRock (BLK.N) with a lower management fee, has grown 47 percent, by far the fastest growth among the five biggest gold ETFs tracked by Reuters. Other low-fee funds such as Deutsche Asset Management's Xtrackers Physical Gold ETC (XGLD.L) are growing rapidly and others such as GraniteShares (BAR), launched last year, are popping up. GLD charges a fee of 40 basis points, or 0.4 percent, of the value of an investment, around the higher end of the market, while iShares Gold and Xtrackers take 25 basis points and GraniteShares 20 basis points, near the bottom. http://www.kitco.com/news/2018-05-04/World-s-biggest-gold-ETF-launching-new-low-fee-fund-source.html
Gold bulls head for the exits on strong dollar, lack of fear Hedge funds and other large speculators pared bullish bets on bullion to the lowest in more than two years as the price fell below $1,300 an ounce for the first time this year, spurring the biggest weekly price decline since December. (Investment News)
Ausdrill maps the way to hidden gold with CSIRO tech https://www.australianmining.com.au/news/ausdrill-maps-way-hidden-gold-csiro-tech/ Mining services company Ausdrill has launched operation of an x-ray technology that the CSIRO hopes will revolutionise a 500-year-old method for detecting and analysing unseen gold. Developed by the Australian national science agency, and brought to market by Chrysos Corp, CSIRO describes the photon analyses technology as a faster, safer and more environmentally-friendly alternative to the conventional fire assay technique for gold analysis. The first photon assay system is operational at Ausdrill’s MinAnalytical facility in Perth, with two more systems to be established in Western Australia’s Goldfields in the coming months. Ausdrill has long-term plans to take the innovation to Africa. Fully automated, the technology dramatically reduces the turnaround time on assays from days to minutes, providing data to miners on gold grades in near real-time to support operational decisions, according to CSIRO. Nick Cutmore, CSIRO research program director, said the agency partnered with investors to create Chrysos in late 2016 to bring the tech to market. “We developed photon assay recognising the market need for innovative data solutions to drive better and faster decision making across the minerals value chain,” Dr Cutmore said. “The result is a technology export opportunity for Australia worth $1 billion in gold mining alone, and a competitive edge for Australia’s mining industry on the global stage.” CSIRO expects Australia, as the world’s second largest gold producer, to benefit from the opportunity to capture more value from mined resources, as well as increased operational efficiencies, revenue and productivity. Chrysos chief executive Dirk Treasure said the company had a rapid growth plan and was well placed to disrupt the global gold analysis services market, offering near-real time, accurate analysis for the first time. “With the first system now up and running at Ausdrill, we have successfully progressed the photon assay technology from concept through to a deployed product in just 16 months,” Treasure said. “Our lease model has been well received by the industry, with photon assay technology benefits being delivered without any increase in operating or capital costs.” The photon assay system will analyse at least 50,000 gold samples a month, at a similar cost to conventional methods. It can be applied to a range of other minerals, including silver and copper. Ausdrill invested in Chrysos during the 2017 financial year, with plans to work with the company to commercialise the CSIRO-developed technology. In an interview with Australian Mining last year, Ausdrill chief operating officer Andrew Broad said the investment was a way for the mining services company to be innovative using technology. “It’s a lot quicker, a lot more efficient and arguably a lot more accurate,” Broad told Australian Mining. He added that Ausdrill planned to use the technology to benefit its clients once the testing phase had been completed.
I day trade gold, but I see an opportunity for a swing trade on the long side. A pop up through the middle of the week and possibly the whole week. Long GLD at 116.50 (if it gets there) and a stop set below 115.50. Profit target is discretionary. Let's see what happens!