Currency moves in the Turkish Lira, Yields dropping, and lack of reaction in gold

March 22, 2021

Ed Moya, Senior Market Analyst at OANDA joins me for a recap of what happened in Turkey over the weekend where the President fired the head of the central bank which has the Lira falling hard. This brings us into a discussion on the health of the emerging market trade. We then touch on the drop in yields today and it’s correlation to gold.

Click here to visit the OANDA website and read over Ed’s daily note.

    Mar 22, 2021 22:22 PM

    Turkey: Shock sacking sinks lira as Istanbul stock exchange loses 2021 gains

    Markets have reacted strongly over removal of central bank chief after just four months in the job

    By Ragip Soylu in Ankara – 22 March 2021

      Mar 22, 2021 22:27 PM

      Here we go…..
      The currency tumbled to as low as 7.91 to the dollar. Turkey’s 10-year treasury bonds yield also rose by 319 points to 17.25 percent, a record high.

        Mar 22, 2021 22:28 PM

        One down…….Central banks in another world….still need the golden nugget… 🙂

          Mar 22, 2021 22:38 PM

          Another One Bites The Dust 😉

            Mar 22, 2021 22:21 PM

            Direct from the Queen….. 🙂

            Mar 23, 2021 23:11 AM

            I think you mean direct from the queer.

            Mar 24, 2021 24:32 PM

            Jerry probably likes that.

    Mar 22, 2021 22:37 PM

    Inflation Will Drive Gold & Silver – Mike Konnert (CEO of Vizsla Silver)

    ILoveProsperity – Mar 22, 2021

    “In this video we talk to Mike Konnert about Silver, Silver stocks & his belief that as government’s continue to devalue currencies, you will see Silver prices skyrocket. We discuss the huge effect that industrial demand can have on silver, and how this demand is much higher than it was in 2011. This should have a sustained impact on the Silver prices over the next decade, and send silver prices much higher.”

    Mar 22, 2021 22:41 PM

    Ten Tips for New Resource Investors by Bill Powers

    Mining Stock Education – Mar 21, 2021

    “Bill Powers shares ten tips for new resource investors. These points of advice are what Bill has recently shared in conversations with investors brand new to the resource sector. Most of the points are cautionary and serve to warn new resource investors against incurring large losses via mining stocks.”

    Mar 22, 2021 22:41 PM
    Mar 23, 2021 23:08 AM

    NFGFF – sold 2K @ 4.35

    Mar 23, 2021 23:23 AM

    High Tide, HITI.; If I am reading this correctly it is breaking out IMHO. More news yesterday about the Nasdaq listing, I own HITI. This is one of the few times in the last 15 years that I have not owned any USAS, I have given up entirely on them.

    Mar 23, 2021 23:26 AM

    Here’s a chart I posted at the last low when GDX was around 31. GDX is now probably heading for that March 9 gap:

    Bought IPT, KTN and a tiny bit more SGN today.

      Mar 23, 2021 23:51 AM

      Another that I posted a few weeks ago (it shows a possibility, not a prediction):

      Mar 23, 2021 23:59 PM

      I know you don’t have a crystal ball. The fundamentals seem to be getting better for gold every passing day but the price action over the last 7-8 months is strange. The miners are where they were in mid 2016. How long does this underperformance go on when everything else seems to go up despite poor fundamentals. The opportunity cost of being in this sector is tiring.

        Mar 23, 2021 23:02 PM

        I agree that action has been strange over the last 7-8 months and I’m sure that covid and the election are at least partially to blame. Big/smart money agrees with you about the fundamentals which is why the likes of NEM launched impulsively $10 higher over the last 3 or 4 weeks.

        I still think the big golds have probably bottomed and the rest will probably do so in the next week or two, especially if we see a couple more days like today.

    Mar 23, 2021 23:58 AM

    After an 18% move in 3 weeks, NEM has earned a break:

    Mar 23, 2021 23:24 AM

    Here’s a TLT chart I posted recently. It is up about 3% in the las four sessions: