This week has been a turning point. Copper, corn, oil, gasoline, natural gas, lumber, silver, cotton all down big time. Goldman Sachs has called the top for commodities.
Global Industrial production is sinking quick. Quantative Tightening expectations are being down played each new day, PMI was expected at 56, comes in at 52,6 - that's a big miss.
Recession fears are clear as day - the biggest driver of the WEALTH EFFECT is property prices and mortgage applications in terms of $$$ dropped 16% last month.
All of this is good news for the price of gold. Forget Geopolitical tensions, forget rising interest rates. The biggest issue facing the US now is the recession which is coming or already here. If the Fed Reserve rises interest rates to 4% the interest bill on US debt will be a bees dick away from being insolvent, rising interest rates and quantative tightening will be factors far less important than the ability of the US to pay its debts.
Lowest price low since 2015, page-11
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Last
$1.94 |
Change
0.015(0.78%) |
Mkt cap ! $1.465B | |||
| Open | High | Low | Value | Volume |
| $1.94 | $1.98 | $1.93 | $10.47M | 5.362M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 41798 | $1.94 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.95 | 4373 | 1 |
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| Last trade - 16.10pm 17/09/2024 (20 minute delay) ? |
| RRL (ASX) Chart |