POG

Since the POG can have a major impact on stocks including SPR and given the seemingly bullish trends in POG and the views by many experts the POG is going to keep increasing, I thought it sensible to start a tread on POG. We can put all our comments about POG and causes in the one place instead of them being scattered over heaps of treads making past comments difficult to find.

See latest charts below.

Looks like POG so far tonight ie USA early morning, is showing a good upward movement.

The first chart is in $US and POG is approaching $US2,000 while the second is in $A and looking like POG may hit an ATH closing in on $A3,400. The trend in $A since the the big uptick in the first week of March is a slow upward trend from closing daily prices of about $A3,250 to now over $A3,360 while in the same period the $US POG daily closing prices are fairly flat meandering between $US2,150 and $US2,200.

Lets see if the momentum is still there tomorrow morning - it often disappoints by morning.

The one thing I find odd is that the past strong inverse relationship between the POG and $US has partly broken down in 2024. For example the US dollar index is basically flat since end of February 2024 yet POG has increased significantly in March!

I also think the experts do not really understand why the POG has increased so much in March 2024 given bond yields and $US index have not really moved much if at all. Many experts admit they are puzzled by the rise in POG in March (more on this in a subsequent post).