I would not be surprised if some manipulation is going on atm. You might have noticed not one of those articles on the US CPI and inflation was from Bloomberg's or Reuters. atm they are both hammering away at BHP, copper, gold, etc.
The US desperately needs its dollar to stay high and commodities to keep falling. If the dollar falls, then imports will rise increasing inflation. If commodities rise, manufacturing costs will also rise increasing inflation.
All those US inflation articles are only hours old. Looks to me like the inflation gene is out of the bottle. Gold is traditionally used as a hedge against inflation. So I'd say its bottomed and will commence heading up. As for the dollar? Why would anyone buy dollars when US inflation is high and US interest rates are low?
bhp billiton poised for record profit, page-42
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Last
$42.78 |
Change
0.140(0.33%) |
Mkt cap ! $217.0B | |||
| Open | High | Low | Value | Volume |
| $42.25 | $42.97 | $42.14 | $223.0M | 5.233M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 10160 | $42.77 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $42.79 | 5000 | 1 |
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| Last trade - 16.10pm 01/11/2024 (20 minute delay) ? |
| BHP (ASX) Chart |