Gold Monitoring Thread $ (USD) only

[LawrenceChard]

1 minute ago, HawkHybrid said:

you should buy more on the dips 

 

HH

You are right, but...

I have forgotten now how much we bought on that last dip, probably spent about £1 million, which was about all we had spare, although we still keep some in reserve in case someone arrives with 1000 sovereigns to sell. To buy more, we would need to be dealing in futures contracts on margins, which we avoid. Most bullion market deals are "cash" or "OTC", for immediate payment (actually 48 hours).

[Zhorro]

Well, at 1.30pm (UK time) the US released lower than expected inflation figures, and gold went up and the dollar fell.

https://www.zerohedge.com/markets/stocks-gold-spike-after-cpi-miss-dollar-nosedives

Would we not usually expect gold to fall with lower inflation?  

[Zhorro]

Gold has fallen 2% today on the back of better than expected US retail sales figures:

https://www.zerohedge.com/personal-finance/us-retail-sales-unexpectedly-rebound-august-despite-slump-car-sales

[Bumble]

Closed at $1818 today, with the upper Bollinger Band at $1819. That's good, but we really don't want to see the price push through the upper BB next week, because algo traders will sell on that signal. RSI is not overbought and MACD is pointing upward, which is also good. Ideally, it would be nice to see some consolidation at this level, with the price settling at around the $1820-$1825 level.

[jultorsk]

US CPI +6.2% y-o-y

Price increases over last year (CPI report)... 
Gasoline: +49.6% 
Gas Utilities: +28.1% 
Used Cars: +26.4% 
Meats/Fish/Eggs: +11.9% 
New Cars: +9.8% 
Electricity: +6.5% 
Overall CPI: +6.2% 
Food at home: +5.4% 
Food away from home: +5.3% 
Transportation: +4.5% 
Apparel: +4.3% 
Shelter: +3.5%

 

[HerefordBullyun]

If you want nearer to the truth what was said in fomc minutes today here it is by jay Powell.

 

 

 

[sixgun]

[Minimalist]

19 minutes ago, sixgun said:

[jultorsk]

A rise in rents and other accommodation costs and prices for used vehicles were the “largest contributors” to December’s increase, according to the BLS. Since December 2020, those expenses have increased 4.1 per cent. Used car prices continued to zoom higher, increasing 3.5 per cent from the previous month, and nearly 40 per cent from a year ago. Energy prices fell 0.4 per cent from November — the first decline in months — and gasoline prices dipped as well. Food prices also contributed once again to the historically high figures. Dining out costs rose 0.6 per cent from a month ago, a 6 per cent year-on-year increase and the largest rise since January 1982. The broader food index was up 0.5 per cent, a more modest pace than the previous period. The cost of apparel, household furnishings and medical care also rose.
--
The US stock market opened higher, as investors digested data that appeared to keep the Fed on track for four quarter-point rate increases this year.

https://www.ft.com/content/b90f59e1-79c2-403d-94a9-776555c541fc

 

[HerefordBullyun]

2 hours ago, sixgun said:

There is only one thing worse the elzebub herself

https://www.wsj.com/articles/hillary-clinton-2024-comeback-president-biden-harris-democrat-nominee-race-2022-midterm-loss-11641914951

[DarkChameleon]

It was going to catch up with us, you can't pump trillion in, have no revenue from pandemic and then the last insult, let banks manipulate the metals market with slapped hands then start again the following week...jail time or nothing.

[Oddjob]

9 hours ago, HerefordBullyun said:

There is only one thing worse the elzebub herself

https://www.wsj.com/articles/hillary-clinton-2024-comeback-president-biden-harris-democrat-nominee-race-2022-midterm-loss-11641914951

[HerefordBullyun]

3 hours ago, DarkChameleon said:

It was going to catch up with us, you can't pump trillion in, have no revenue from pandemic and then the last insult, let banks manipulate the metals market with slapped hands then start again the following week...jail time or nothing.

How many bankers went to jail in 2008?

One, just one! I will wager nothing

[Oddjob]

6 minutes ago, HerefordBullyun said:

How many bankers went to jail in 2008?

One, just one! I will wager nothing

Yep and his name wasn't Jamie, Lloyd or **** either.

[HerefordBullyun]

5 minutes ago, Oddjob said:

Yep and his name wasn't Jamie, Lloyd or **** either.

He was just a token scapegoat. nothing more nothing less...

[DarkChameleon]

9 hours ago, HerefordBullyun said:

How many bankers went to jail in 2008?

One, just one! I will wager nothing

And I bet that person gets a sweet paying deal indirectly after getting out.

[HerefordBullyun]

4 minutes ago, DarkChameleon said:

And I bet that person gets a sweet paying deal indirectly after getting out.

You can bet your bottom dollar!

[sixgun]

Saw this on Twitter

[sovereignsteve]

We need Wonga back🤣

[DarkChameleon]

On 13/01/2022 at 11:20, HerefordBullyun said:

You can bet your bottom dollar!

Any dollars that come out of my bottom I'm playing the lottery with.

[Minimalist]

On 13/01/2022 at 02:38, DarkChameleon said:

It was going to catch up with us, you can't pump trillion in, have no revenue from pandemic and then the last insult, let banks manipulate the metals market with slapped hands then start again the following week...jail time or nothing.

Have you been reading our posts regarding the financial system? What do you mean they cant? They are never getting thrown in the cells.

[Minimalist]

On 16/01/2022 at 23:51, sixgun said:

Saw this on Twitter

This decade is easly predicted. Metals will trend higher.

Expect the 2030s to be a brutal decade when Klaus Schwab and the Cartel smash the prices down by convincing the slavery to "own" the digitalcrypro currency slave apps. This will push their agenda for all rent based economy which will make Gold harder to source as the Cartel will eliminate trans-generational wealth.

[Bumble]

Today's price rise sees gold hit the upper Bollinger band. I was hoping gold would just advance slowly and stay within the bands. Hitting the upper BB usually triggers algorithmic selling, so unless we get a war in Ukraine next week, we could be in for a substantial correction.

[swanky]

1 hour ago, Bumble said:

Hitting the upper BB usually triggers algorithmic selling

I count gold being higher in the following month more often than it's lower after a upper BB hit. Daily candles are too short-term for a slow mover like gold, switch to weekly.

[sixgun]

50 minutes ago, Bumble said:

Today's price rise sees gold hit the upper Bollinger band. I was hoping gold would just advance slowly and stay within the bands. Hitting the upper BB usually triggers algorithmic selling, so unless we get a war in Ukraine next week, we could be in for a substantial correction.

Many are posting this sort of chart and calling it a likely breakout - a buy signal.