Gold price skyrockets on soft US data, falling US yields and geopolitical jitters. April US PPI and Retail Sales miss expectations, prompting markets to fully price in two Fed cuts for 2025. Weaker US dollar.
Trade tensions may have eased but economic damage has been done. Consumer sentiment was already low and we saw drop tourism numbers and uncertainty may impacted on business investment...imports will be down significantly this quarter, I am expecting a recession.
i think KCN will open $2+. If KCN mgt are right this time on TAFTA ...ie concession in June.. I also see gold heading up to $4k Oz in July.. we should see $4+ sp in the next few months.
KCN Price at posting:
$1.88 Sentiment: Buy Disclosure: Held
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