I think Asian markets buy up gold and US markets people sell gold. This is what's happening...
Made a lot of progress, but feel like there's so much more to go...
- Thread starter trader99
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I think Asian markets buy up gold and US markets people sell gold. This is what's happening...
You mean, Asian markets sell US Dollars, while PPT buys US dollars 
If the quick burst of US dollar continues to decline, gold ends 1294-1295 range the week... With all the scary news likely coming over the week-end, I would expect Monday-Tuesday to be prime days to sell, over 1300 guaranteed
If the quick burst of US dollar continues to decline, gold ends 1294-1295 range the week... With all the scary news likely coming over the week-end, I would expect Monday-Tuesday to be prime days to sell, over 1300 guaranteed
You mean, Asian markets sell US Dollars, while PPT buys US dollars
If the quick burst of US dollar continues to decline, gold ends 1294-1295 range the week... With all the scary news likely coming over the week-end, I would expect Monday-Tuesday to be prime days to sell, over 1300 guaranteed
what scary news coming over the weekend are you talking about? I haven't heard of any...
I really need it to breakthrough. I'm very frustrated watching it goes up in the morning then when I'm at work it goes back down while I'm busy in meetings to check my account.
Frumpy comes to mind. He is on track to declare a national emergency over the weekend to try to fund his wall.
Ever flown on a commercial jetliner?
Only 1289.80 now. I was expecting fireworks... Only 5 days left til expiration...
Oh there will be fireworks. Citi earnings tomorrow won't be bad per say, but forecast for 2019 will be bad... JPM and BaC heavy losses in bond department, Goldman are smoking right now likely to have the worst earnings for banks this week, it is safe for Gold until Thursday at least. I will likely sell Wednesday a bit before closing if week goes along like it is suppose to, in terms of bad news and bear sentiment
And the icing on all the great news for gold and bears this week... PG&E Bankruptcy announcement this week for sure, and possibly Monday, which will absolutely destroy the market the day of announcement
And the icing on all the great news for gold and bears this week... PG&E Bankruptcy announcement this week for sure, and possibly Monday, which will absolutely destroy the market the day of announcement
Couple questions there...
A) Why would PG&E bankruptcy "destroy the market" the "day of the announcement"? Everyone already knows PG&E is cooked, they knew it when the news came out that PG&E was liable for the deaths related to the fires. And it is just one company. PG&E is not going to destroy the market on the day of their announcement.
B.) What does that all have to do with the price of gold and bears??!
Sincerely yours,
Confused on point B.
Gold spot price is controlled in a way where it is dictated by strength of US Dollar, dollar goes down, gold goes up, vice versa... Look at gold's history since the mid 2000s, when markets get ugly, gold thrives, when markets get beautiful again, gold falls. The more bearish things get in markets, the more gold goes bullish
PG&E does not have the cash on hand to continue operations since being downgraded to Junk, the biggest utility provider in California going bankrupt with damages,legal fees, and other costs from fires reaching up to 29 Billion according to GS. People should be expecting to have there future bills rise a lot more. They got bailed out big before by the State, I highly doubt it will happen this time given California is already near bankruptcy... There bonds aren't gonna be worth much soon and some investor taking heavy losses with them already, it will lead to a run for the door in Corporate Bonds... I am not sure how you think this will not hurt even more the Credit Market already bearish as fuck sentiment ? Billions lost in bond value! Watch the ripple effect
https://www.bloomberg.com/news/arti...solar-farm-cut-to-junk-as-pg-e-crisis-deepens
PG&E does not have the cash on hand to continue operations since being downgraded to Junk, the biggest utility provider in California going bankrupt with damages,legal fees, and other costs from fires reaching up to 29 Billion according to GS. People should be expecting to have there future bills rise a lot more. They got bailed out big before by the State, I highly doubt it will happen this time given California is already near bankruptcy... There bonds aren't gonna be worth much soon and some investor taking heavy losses with them already, it will lead to a run for the door in Corporate Bonds... I am not sure how you think this will not hurt even more the Credit Market already bearish as fuck sentiment ? Billions lost in bond value! Watch the ripple effect
https://www.bloomberg.com/news/arti...solar-farm-cut-to-junk-as-pg-e-crisis-deepens