Usually there is a small dip on Monday morning waiting until the evening and the next morning to see how overseas trade kicks off. With this mornings highs I expect there are more rises ahead this week. Can we consider today the dip? Should we keep buying or tread water? Sell and take our profits and start again later? I might look at balancing my stack, sell what coins I no longer want and buy bars!
JPow said the magic words today. Rate cut is on the table for 2024. Rockets may proceed to their launch pads.
Seemed like every question was about rate cuts. Between that and him repeating over and over and over about how their priority is price stability. I think they can give up on that one by now with inflation at 650% since 1971. Someday they will have to admit that they lost that battle long ago. Notice how the fact checkers are MIA when the Fed speaks.
I agree. Despite all that's going on in the world the two metals are not moving all that much. I keep seeing media reports spruiking both metals as taking off but the charts give lie to their narrative.
Whoa big moves. Looks like gold is breaking out of the inverse head and shoulders now. Should be good for silver too. Something is going on with some banks I heard. I wonder is DXY is forming a head and shoulders right now.
Not sure where I heard or read it but said that it takes $1B of buying to move gold +$5. Anyone heard similar?
based on your comment @heartastack … I guess someone ‘cough-up’ $6B last night…. is it @Oddjob or @sammysilver ?
It might sound like a lot of money for youse guys, but for someone like me, it’s just another day sitting at the coffee shop.
A nice, stable start to the week. It will be fascinating to see the trends as we approach the US elections.
