Which way? Gold.

Discussion in 'Commodity Futures' started by themickey, Aug 20, 2019.

  1. themickey

    themickey

    According to what I'm seeing, the signs are, gold setting itself for another runup.
    So adding one plus one, the stock market in general is going to turn down.
    Prolly today USA.
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    Cannon_Trading and fan27 like this.
  2. They may both go up....
     
  3. MKTrader

    MKTrader

    Nobert likes this.
  4. heispark

    heispark

    Many people are now buying gold.......... You know what I mean...... ;)
     
    Nobert likes this.
  5. themickey

    themickey

    Yup...
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    Nobert likes this.
  6. Nobert

    Nobert

    :thumbsup:

    People & gold

    0:50

     
  7. ET180

    ET180

    Do you believe there will be more negative yielding debt 6 months from now or less? Do you think interest rates are going higher or lower? That will tell you the direction.

    [​IMG]
     
  8. themickey

    themickey

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    Me know only sign language.
     
  9. themickey

    themickey

    Gold’s faring extremely well as a haven asset, with inflows into exchange-traded funds hitting 1,000 tons since holdings bottomed in early 2016 after a prolonged unwind in the wake of the global financial crisis.
    Holdings in bullion-backed ETFs have surged as investors seek havens.

    Total known ETF holdings expanded to 2,424.9 tons on Wednesday, the highest since 2013, following inflows over the past three years and a continued build-up in 2019, according to data compiled by Bloomberg. Current assets are about 1,000 tons higher than the post financial crisis nadir of 1,425.1 tons.

    Gold has surged this year as investors seek protection from slowing global growth, the incessant trade war, and turmoil in the bond market that suggests the U.S. may be headed for another recession. The rise has been aided by a rate cut from the Federal Reserve and expectations more will soon follow. This week, veteran investor Mark Mobius gave a blanket endorsement to buying bullion, saying accumulating the precious metal will reap long-term rewards.

    Others are also bullish. Goldman Sachs Group Inc. has said prices will climb to $1,600 an ounce over the next six months. The bank’s global head of commodities research, Jeffrey Currie, said that gains are likely be fueled by demand for ETFs as well as increased central-bank purchases. Spot gold traded at about $1,500 on Thursday, up 17% this year.
    https://www.bloomberg.com/news/arti...estors-seek-shelter-in-etfs?srnd=premium-asia
     
  10. Ed48

    Ed48

    I've taken a sizable position in Silver. It's a calculated gamble that we're in a new PM bull market and the current GSR of 88 will also fall over the next year or two.
     
    #10     Aug 22, 2019