gold, page-111110

I can't comment on the LBMA vaults and the physical movement of these stuff because I simply don't understand it. It was been speculated even in 2013 PM collapse and it keeps getting repeated when prices goes up and down. In fact after many years of study I have concluded that my understanding of gold fundamentals is now back to a technical chart. It is the correlation to the usual (DXY, IR, Equities) all seems to flip from +ve or -ve depending on the various conditions. Very difficult to make sense on the LT.

I've given up trying to understand it, much easier to look at the COT commercial positioning for gauging sentiment on the trend direction.

The confusion now even persist between whether US will be in recession or stagflation. What will curb demand side and optimal IR %. The Ukie war does add even more complexity as from today NS1 will be off line for 10days and speculation that it may even be longer so this is driving up energy inflation higher from where it is already 'too high' at present!

If you look at Bitcoin collapse, it is another reminder that any financial market can reach depths in both direction far more than anyone can imagine. I certainly hope Bitcoin is not announcing the fate of gold, both have a distinguishing feature, no yield.

Personally I hope I am wrong but I don't see even any early signals that gold is making a bottom nor Bitcoin. Watch that Celsius flush as there is talk of the B word!