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cobrakai1984

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28/07/23

13:10

Post #: 69038238
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Originally posted by AverageJoe: ↑

Yesterday's gold price action unfortunately is once again blowing away the long held view that gold = inflation hedge. It was a big fall on the US positive economic news by 40bucks! Again I was hoping the TA bear flag could hold onto the lower TL but it seems not.

This DEG story FA holds but is under the influence of the GP which is itself directed by us numbers. Just too many experts are making projections of a crashing US economy, stagflation and all those doom predictions while the stock bears are all getting slaughtered.

Just for once, what these experts says make a lot of logical sense but when Feds manipulate market conditions, I suspect results are more random. If we believe in the Evergrande collapse should IOP be that strong where our bulk miners are climbing that wall of worry?

Anyway, the NFP may throw another spanner in the works.

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its rebounded today- gold futures, its still trading inside its range for now. the gold miner bull ETF though had a shocker- NUGT down 9%

Last edited by cobrakai1984: 28/07/23

DEG Price at posting: $1.33 Sentiment: None Disclosure: Held
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DEG, page-7

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