Loading ...T’would be nice. to see gold. survive the nite and be up 6 or 10 bucks in. the morning…we need to. get out of this 3 week rut and get some impulsive upside moves to blast G to 1500 this week
Bitcoin can go up 500 or a grand a day…that’s fine…but if gold goes up 100-150. in 4 or 6 weeks Wall st craps their pants…
[anybody think this is especially bullish?]
Into the new week we get the Federal Open Market Committee’s Wednesday vote to cut the aforementioned FedFunds rate from the current 2.25%-2.50% target range down to that of 2.00%-2.25%. Not news, really, given that ’tis been long priced into the FedFundsFutures. ‘Course, much shall be made ado over the FOMC Statement and Powell’s presser. As well, 18 metrics are due to work into the path of the Econ Baro, so keep abreast of that via the website.
Those events noted, “Let’s get ready to rollover!” is Gold’s clarion cry as trading volume this coming week shall move from the August contract (presently priced at 1418) into that for December (presently priced at 1432): that’s 14 full points very of bullish “contango”, the most we’ve seen for any Aug/Dec rollover since at least as far back as 2001, the inference being that there is a willingness to lock in paying today $14/oz. over Gold’s present price rather than wait to buy come December, (i.e. when one may then be obligated to purchase Gold such as to make delivery of it). But then again, why deliver your Gold when ’twill seek a still higher road?
Capital markets exhibit some nervousness about the growing possibility of an economic crisis brewing that will ultimately affect the global economy. Recent increases in the prices of gold (+11.7 percent in May and June) and Bitcoin (+93.3 percent in May and June) are a sign of that nervousness.
Note that live video could not be established , so just audio feed worked .
Imagine that .
If that hearing by the Demonrats in Congress made anything clear, it was that Mueller was nothing but a figurehead and had little clue what was in the report.
Amazing that a guy like Weissman would throw him to the wolves knowing full well he didn’t have the mental capacity to defend a ridiculously fraudulent report.
I would have felt bad for Mueller if he hadn’t ruined so many people’s lives in this and his other investigations. He may have been a man of honor at some point in his life, but that ended when he became a tool of the DC swamp.