Has Tether Been Fueling The Bitcoin Bull-Run?

https://www.zerohedge.com/news/2019-06-27/has-tether-been-fueling-bitcoin-bull-run

People send real money supposedly to this site ??????

https://tether.to/

As Autocallable Issuance Explodes, Is This “Ground Zero” Of The Next Vol Catastrophe

https://www.zerohedge.com/news/2019-06-27/autocallable-issuance-explodes-ground-zero-next-vol-catastrophe

http://futures.tradingcharts.com/marketquotes/GC_.html

Indeed…that’s not the picture one would expect with a 3+% GDP print.

Somebody is lying.

Wonder who?

Cheers

Rates on the Ten Yr. dropped from 2.06% to 2% today. That’s not indicating anything good or dollar positive and gold negative.

I guess we’ll see what happens but this correction might be short and shallow after all.

12 bucks off the bottom–impressive, what!!

Comex Gold–Aug’19

1412.7–open

1415.3–high

1401.4–low

1413.0–[last]

THE PROOF

Sunday night gold will be up strongly and by the end of the week gold will be over $1500

So tomorrow will be the last day to add on or take an initial positon in G&S.

My main problem to solve was would the XI-Trump meeting be a success–it won’t be a dramatic failure–Trump is not going to throw a banana creme pie in XIs’ face and storm out–there will be. some B.S. joint statement that will sound O.K. but accomplish nothing–they will agree to keep negociating–how do I know this?

From the action in bonds mainly…secondarily from the dollar and stocks…I got further confirmation for what. I was suspecting from this article=

 Bonds & Stocks Bid On ‘Bad’ Macro/Trade News

And that bad news sparked a dovish push in market expectations for The Fed…

Which was all that was needed to bid bonds and stocks higher on the day…

Treasury yields tumbled on the day with the long-end outperforming…

Spot Gold briefly dipped below $1400, but was bid at that level…

 Finally, as Bloomberg’s Ye Xie notes, the collapse in regional Fed surveys leaves the stock market vulnerable.  With the Kansas City Manufacturing Activity Index posting a reading of zero, all five regional Fed surveys of business activity deteriorated this month. That points to the risk that the ISM manufacturing index next week may fall below 50, the dividing line between growth and contraction.

BOTTOM line=all the above guarantees that the rate cut/zero bound regime will still be in effect—NOTHING else is as important for gold—and that will support. higher gold—the worst outcome would be a great trade deal because that might cause the FED to retract their rate cut policy–

Yes that was a good close — not that the fun is over.

In the good news department the aggressive ETF speculators are now shorting the PM’s at present levels expecting at least a pull-back. And I wouldn’t doubt the COTS will improve too.

This is classic bull market action.

A gold close over $1400 tomorrow will paint a nice monthly candle for June.

Turns that begin in May often last into November – at a minimum.

Cheers

The 10 yr t-note has has a decent gain= up 18/64ths…IMO, the $ and the bonds-especially–are reflecting the fact that there isn;t a lot of confidence in getting a good outcome from  the XI/Trump meeting. That they continue to buy bonds and stocks together is sooooo strange,,,,

Sunday night will definitely be wild

a strong close and an end to this shallow pull back. Glad to see $1400 hasn’t been breached. Course with pm’s there’s no way to know, each day is different.

Not seeing anything unusual with dollar strength or rising rates.

We’ll see. Just hoping for short and shallow…..

A JAPANESE style RENKO CHART  that filters out small moves,but is very good at tops and BOttoms  .Confuses dates a bit because of the filtering .Chart is 2010 till today ..

This can’t hurt gold=BITCOIN DROPS $3000

BitCoin has. fallen $3000 from it’s high today-and all the other coins have 10%-14% losses…I think I’ll get a list of all those coin buyers and send them a pamphlet about the benefits of owning gold

https://www.worldcoinindex.com

we should rally in a B wave from here minimum….lets see.

Yeah I wouldn’t be to worried yet but you could always hedge with the dollar. Even though it’s down it still hasn’t broken out of its bullish mode ” yet.” I have no ideas what it means if they both go up have haven’t compaired if their doing it the opposite of each other.
I can only have so much computer tribulations using a phone and already my fill for the day.

.Go smoke a cigarette and relax ,cause there only blowing smoke ,blow it back at em..Go to the beach for a few days …put your stink orders in to buy below the market !its going to be VERY short ,dont try to trade this market..Be in Place and wait.There blowin Smoke ! then the mirrors come in …Its all about smoke & mirrors ….to distract you ..Its a bull market ya know !

took gold sub 1400 and found no stops, or tonnes of buying..so happy to stop all rallies and hold it @ 1400….

The QE naysayers at that time focused on the risk of inflation – and even hyperinflation – in consumer prices. However, the paramount issue was instead market distortions and hyperinflation in securities (and asset) prices, where perpetual QE essentially removes any ceiling on sovereign debt prices (floor on yields). Why shouldn’t exuberant traders imagine Treasury yields at some point trading at the current Swiss bond yield of negative 52 bps?

Why not leverage Treasuries (i.e. 10-yr at 2.06%) if the Fed will eventually become a price insensitive buyer of Trillions of these securities? Why not take levered positions in German bunds at negative 29 bps – better yet, Italian and Greek debt at 2.15% and 2.52% – appreciating it’s only a matter of (probably not much) time before the ECB fires back up the “electronic printing press.” Perhaps most consequential of all, why wouldn’t everyone speculating globally in the risk markets simultaneously leverage in sovereign debt, confident that aggressive global QE deployment devises the perfect market hedge? Why not hedge market risk with sovereign debt-related derivatives? In total, we have unearthed a recipe for history’s greatest episode of speculative leveraging (mortgage finance Bubble excess measly in comparison).

RE GLD….the shares are way beat up still….they are @ 30 % below where they were in 2016 relative to Gold, in the Hui/Gold spread..the GDX/GLD spread is @ 20 % down.

I’d take some profits out of the 1400 and wait out any pullback when it hit the 1420s and wait to see if the new support holds but I’m not trading right now. 1350 ish resistance should be the new support.

Wow. Didn’t even realize the HUI got up to almost 300 back in 2016.

Been suffering for so long with this stuff I can’t even remember back 3 lousy years.

Funny thing about that is that GLD is higher now than it was back then. Go figure.

Futures Tumble After Beijing Reveals Demands To Agree To Trade War “Truce”, Including Lift Of Huawei Ban

https://www.zerohedge.com/news/2019-06-27/futures-tumble-after-beijing-reveals-demands-agree-trade-war-truce

Doesn’t look like this is gonna be settled anytime soon….

Yes short term we are o/b even on the weekly chart…..but u don’t break out of a massive 7 year Saucer base on huge Volume and not expect extreme readings.

Classic T/A says we can retest the B/O area 1365/80, so that should not surprise, then we run higher fast….I see nothing so far to worry a major bull break out in TA….and the Fundy’s support the whole thing….a hated mkt that no-one even thinks about, beaten up prices in the shares and a system that does not have the slightest worry about printing to oblivion…indeed most political leaders positively love the idea of what they think is free money…..and we haven’t even started the real printing, let alone the Helicopter money.

The one major problem is of course the scum/Rig…..but as long as the SM behaves, they may allow a bull in PM’s, as not to, would make the physical demand intolerable.

The dollar index just went red and the 10-yr note too–not. by much but just enuff–also gold popped 4 bucks off its low…it shoul be an inter4esting two days…

AS WE KNOW, GOLD IS. THE EXCEPTION….IF IT RALLIES for 5. or 8. straight days–EEEEEK! It;s soooooo overbought….it’s gotta correct for 3  or 6 moths or 3 years…and it usually does…but I sense that this time may be different…in fact, it may be the rally of a lifetime…so I will stick with it a bit longer…I am not hugely confident I am right….maybe 50/50…what about you? For sure, anyone. already well positioned in PMs should wait until Monday at least cause the Japan meeting may get gold back in gear…