GOLD 0.51% $1,391.7 gold futures

The gold bull ... it's over ... it's over ..., page-36

  1. 7,424 Posts.
    lightbulb Created with Sketch. 152
    Hi there Dazed

    I agree that the PoG response to the BoJ announcement wasn't logical.

    My assessment is that the PoG should not have responded at all. QE is not inflationary, and it has limited stimulus value. It is an economic lever of questionable value, except for bolstering commercial bank reserve deposits.

    So why a sell off?

    I think the blame falls on nervous Comex traders. They are long gold futures and very unhappy. At the moment if someone said "BOO" very loudly their first instinct would be to sell. If it hadn't been the BoJ, any other surprise news would have provoked the same reaction.
 
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.