@Ophir - a rare , end-of-month Gold Forum post from the exiled wombat (burrowed deep underground, still waiting for WW3 some talk about...or did it happen and I missed it? Wouldn't it have been on the news? Kind of sounds like a big deal, dontcha think?)
Prices will fluctuate, you know (they always have, always do). Personally, I'm betting on gold pulling back from that spike at 6:45 am NY time, itself presumably based on EU GDP news :
"" Eurozone Economy Grows at Faster Pace Than U.S. ""
PARIS--Eurozone economic growth accelerated at the end of 2016 while the jobless rate fell to its lowest level since 2009, putting the currency area on a steadier footing at the start of a year clouded by political uncertainty."
Now since US latest GDP was 1.9%, growth above that is not particularly stellar.
Still it led to a spike in Fiber (EURUSD) and French Bond Yields, falling USD, and corresponding brief spike in gold at 22:45 AEDT, which I wouldn't get too excited over... And that's all that counts... the market's reaction (vs. the news itself).
I see much of this being given away (close to or under 1,200), or as martis would and pretty much did say "it
could happen": do you remember the old "5 bob each way"?
I have skin in the game (re my own bet). I might be wrong (""it
could happen" - and does).
"could be a big night" were the words from the Oracle. Yes it could, or it could not...so which is it, from the Prophet himself? Who knows. Regardless, it's not a big night....gold up about $3 since ASX Close, and 81 mins after NY Open. So, wrong...again (at this point ....he'll get it right one of these days...)
My SAR continues to disappoint (I bought it just to keep those in this Forum happy....gotta love those peaceful Saracens.
). Sold my MOY today at breakeven.
I'm lacking confidence, right now (pls see my question, below)
@Ophir
Did you notice that gold price rose today (Tues) and the Investment Grade goldies all fell (except NCM, itself a negligible rise). Please see image.
Question: what - if anything - does this tell you? I'll give you my answer: the big money (which may or may not be "smart") doesn't have a lot of confidence in the bull swing that started late last December, 2016...just my thoughts and worth exactly what you paid for them.
P.S Some say we already had WW3, which was the Cold War, and we're now in WW4, which is the (ongoing) War against {radical} Islam,. ongoing since 632 AD, now re-instated - and increasingly triumphant - with ever greater intensity. I'm being quite serious here.
However, I do believe at least the new US Administration will no longer bend over and take in the rear end, as the EU zone and others are happily doing. Most "developed" global zones, in fact.
Gold_Majors - Tues 31 Jan - sorted ascending (i.e. worst to best)
