Loading ...Dollar down, rates down. Both should be pm bullish. Instead, we get pm hell. Another inexplicable crash.
Although I guess it’s very explainable. The banks, sanctioned by the corrupt Fed and Regulatory bodies decided gold had gone up high enough and poured tons of paper shorts into a market that is always rumored to be running out of supply, but never does, to take prices down, likely prior to a rate cut, knowing full well a rate cut will be bullish for the metals.
They add a phony GDP number to the mix as “the excuse”. Problem with that is, the metals crashed well before the numbers came out AND if the numbers were so great and bullish, why is the dollar down a little? Why isn’t it soaring? Why aren’t rates soaring?
So, what do they accomplish? They take any excitement about the miners out of the game with lower prices, even though they have higher earnings. NEM being the prime example this am. They also make it so that when they do cut, the best the metals do is come back to where they were, which of course, they will make sure, takes weeks or months.
Lower metal and BTW lower oil prices run cover for their cut, they must be falling because inflation is coming down right?
Lastly, the SM is rolling over. Gold can never look like a safe haven in that scenario, it never has been, and never will be. Nothing will ever be allowed to compete with US bonds. This is the third world oligarchy we’ve created for ourselves in the US.
Just need a few more things to happen, just need a little more patience, yada, yada, yada
When you don’t know, and you know you don’t know, that is the beginning of wisdom.