Australia's largest stock trading and investment forum Australia's #1 stock forum

Lol A new gold expert? whats happened to Neverwrongski? Oh I see...

First 21102 Last

Share
Profile

Follow
adam a

14,508 Posts.

1240

09/04/24

15:02

Post #: 73260197
Share

Originally posted by 1ronnie ↑

This is why we expect Gold to hit at least $2700 → Cup and Handle pattern

https://x.com/GameofTrades_/status/1777353204763590799

Gold vs SPX is this a no brainer trade?

https://x.com/i3_invest/status/1777382425565311345

It's pretty clear who is driving gold to record highs: Asians (who have been the largest consumers of physical gold for a very long time). Not Westerners who are relatively minor players in the physical gold market. This story is an example of the extremely high interest in gold (and miners) in the East: "Shares of Chinese gold miners also have produced stellar gains this year. Zijin Mining Group Co. and Shandong Gold Mining Co. have both risen more than 50% from their respective lows earlier in the year." In contrast, interest in U.S. & Canadian-based miners remains subdued. Another sign of Western disinterest in gold: the Sprott Gold & Silver Trust (CEF) is trading at a 4.5% discount - a level closer to that seen at gold bottoms. Their lack of interest will likely change once they come to understand the old rules (examples: sell on higher rates, on increased Comex margin requirements, on higher U.S. jobs numbers) don't apply to the Asian buyers. Until then, a lot of Western wise-guy traders get left on the sidelines.

https://x.com/htsfhickey/status/1777374178968014961

Expand

Lol
A new gold expert?
whats happened to Neverwrongski?

Oh I see a new narrative!!
lol lol lol
Upvote

0 Great analysis

Reply