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Gold Price - Where is it heading?

Garpal Gumnut

Ross Island Hotel
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Well the last few wagons of the Gumnut Goldtrain are at last coming back close to profit.

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Trying to second and third guess the POG with the USD and AUD can be quite a pain. I wouldn't want to be depending on it for a short term punt.

Much as I have nothing against Mrs Pelosi I was hoping she would do an Ivana Trump fall on the turps down the stairs at the American Embassy in Taiwan, without her having to end up 6 yards wide of the hole at the first green at Bedminster of course.

gg
 

bluekelah

StockFan
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Don't like posting these videos but he seems to have called this crash 5 months ago (was it already crashing?) or possibly longer. Seems convinced this is the big one.
Some of his statements are true. But that doesn't mean a lot. Government will still print and he will be chasing his tail again.
he is just selling hype.

few months back he saying Bitcoin would go to 500k lol and gold would drop by half.

Once the FED started rolling back the QE measures in November you could already predict there be a taper tantrum/correction(has happened everytime the life support been taken off post GFC, add in rate hikes in march and its a recipe for hard landing/stagflation with FED so far behind inflation.

Yes FED will have to PIVOT and print again at some stage if Biden stays on, its just crazy to hike rates into a technical recession.

I believe POG will follow markets down for the rest of the year and likely very sharp and big rebound next year when the bad stagflation hits and FED is forced to pivot and print again and everyone starts realising cash is trash and runs into gold, as per monetary supply calculations unless FED does 6-7% rate rises, inflation will be above 6% till at least middle/late 2023.

1970s all over again baby!
"Let's dance, let's shout
Shake your body down to the ground"
 

Garpal Gumnut

Ross Island Hotel
Joined
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Posts
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Well it is all happening tonight.

  • China raising the ante on Taiwan.
  • US Job numbers surprise greatly to the upside.
  • USD rises against all currencies incl. AUD
Gold lost 1.3% in under an hour.

The AUD lost 1.3% in under an hour.

Percentages all approx. I'm none too good at subtraction nor long division.

So as of now.

Gold USD $1770
AUD $2574

gg
 

Garpal Gumnut

Ross Island Hotel
Joined
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Just a warning to those trading Gold that spoofing is becoming a major problem.

For an explanation please google "spoofing gold" or read this article from kitco.com and follow yer nose.


It is unfortunately not done just by shysters like Shak who features in the article but also by large criminal organisations and JPMorgan Chase, the latter are defending a case at the moment. I presume other merchant banks are involved as well. The large merchant and fund houses are really just legal large criminal organisations.

So buyer beware.

It is another reason why I stick to physical and avoid derivatives or futures in Gold.

gg
 
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