Gold vs US markets, Treasuries, and the USD
Jordan Roy-Byrne, Editor of The Daily Gold joins me today to look at a wide range of markets and compare to the moves in the gold market. We look at the continued rise in US markets but gold’s ability to hold its current level. Also yields are discussed because if they continued rise this could draw money away from the precious metals. Finally Jordan has some comments on the USD and it’s chart pattern.
Click here to visit Jordan’s site for more metals focused commentary.
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Clif High on cryptos you might have missed:
https://www.youtube.com/watch?v=khhQm2t17B0
(Thank goodness Clif is not involved in the US space program, because he does not understand with regard to dynamics and quantum physics.)
China Quietly Orders Closing of Bitcoin Mining Operations
Move tightens a clampdown that already has shut exchanges for trading of cryptocurrencies in China
https://www.wsj.com/articles/china-quietly-orders-closing-of-bitcoin-mining-operations-1515594021
Looks like the uncertainty in Natgas is resolving to the upside. After the recent historically narrow bollinger bands (for the past 27 years anyway), this move may pack some punch.
http://stockcharts.com/h-sc/ui?s=%24NATGAS&p=W&st=1989-01-01&en=today&id=p54100988737&a=569585469
Note how this week has taken out all the moving averages. Spot price has continued to rocket since the daily close, currently at 3.136, the next significant level is ~3.20.
Trump: “Why Are We Having All These People From ShXthole Countries Come Here?”
The immigrant deal that was in the bag, appears to have crashed and burned after Trump asked “Why are we having all these people from shithole countries come here?” referring to African countries and Haiti, suggested that the United States should instead bring more people from countries like Norway.
Markets are forward looking. Rising yields = inflation and problems for the economy and therefore, conventional stocks and bonds. Rising yields will send money into gold.