I can say it is true but it is an old news and USD is not getting stronger anymore (last week). It is got saturated. In other words, that piece of info is more than priced in the current price of gold. What is new is that as we get close to inauguration day, the anxiety is increasing and the worry that what would happen after that will lead to higher gold prices at least till the end of January.
I like GLD at this level
- Thread starter hajimow
- Start date
How the link was related to your statement? It says Ford is cancelling its investment in Mexico regardless of Trump because it does not need a new facility because its sales in small cars is declining. Ford will move the facility to Mexico in 2018 anyway (according to CEO). Actually if you look at it, it shows someone else is eating their lunch.
I've gotta reverse course on my bearish call. Since there was no downward follow-through on the day that I spoke of before, this thing is going up. It also came back to test the area in which it broke out of it's consolidation, which tells a very bullish story.
This is probably going to end up in a breakout from the mid-December S/R along with a short squeeze. I'm out. Other fires to put out.
https://www.bloomberg.com/news/arti...rillion-commodity-binge-as-shortages-foreseen
More signs of positive outlook in US economy.
More signs of positive outlook in US economy.
It makes sense for China to buy gold now than US dollar in order to depreciate their currency but I don't understand why Germans want to buy gold now ....