1 Oil has dropped from 80 to 64 in 4 months. 2 Commodities fell 80% from an all time high. 3 China has a financial crisis. 4 Trump unpredictable which makes economic planning untenable. 5 Trump introducing tariffs as a defensive measure to improve US economy as a desperate act. 6 India has persistent poverty, high unemployment, income inequality, and infrastructure gaps which prevents progress. 7 Global Military spending 2.7 trillion in 2024 which diverts world resources. 8 Trump scaling down tariffs reduced inflationary pressures has caused a gold price reversal.
I am predicting a low of $2700 usd, if it breaks below $2700 the next stop will be around $2300 usd. We have to be realistic because in a recession gold always falls initially. We might be very fortunate if gold holds at $2900 usd.
AngloGold Ashanti Ltd - ADR down 6% tonight on the open of US markets as gold drops 2%. Market cap: A$31.53 Billion the canary in the coal mine with a cash cost of $1200 and ounce.
I expect RMS to fall between 10 to 15% tomorrow, we will have to wait and see how the gold price unwinds tonight.
RMS Price at posting:
$2.49 Sentiment: Hold Disclosure: Held
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