Loading ...I just got home and see a lot of disappointment with the fed
Buygold-I think I heard Powell say “we’ll be data dependent”–then. stocks and gold dropped to new lows
That data dependent means that. another cut is not guaranteed…he had to say. that but everyone. knows there will be not just one but many more…we’ll. have to just see. where this dumb show goes…the end result. will be the same: much higher gold.
on this “hawkish” news. the $ is up .265
If the stock mkt keeps going down we can expect some back pedaling today or tomorrow
gold was up $18 the past 2 days, so this isn’t. the end of the world…maybe we get a big. gold rally over night…we’ll let the Cartel have their fun. today…
Powell speaks
PM’s tank. Sort of the normal course of things.
Must not be too dovish. As expected.
R6
Watching the shares and spotting some green.
Silver shares in particular
Trying to come back from the initial drubbing
The scum were right there to stop us from going positive.
The dollar is relentless in it’s move higher.
Powell on deck. Would be super bullish if we could go positive.
2:13pm–still. a very bullish set-up–the FED/PPT in. full manipulation mode–the dollar popped up to +.213–what a joke?
There is. Fridays report to. go…maybe gold. waits till then…or maybe at the press conference at. 2:30
The. $ pop cause the cut was “only” 1/4 pt….hilarious!
GOLD DOWN 1.10-!! GANG, i. can’t tell. u how bullish this set-up. could be-!!!!!!!!!!!!!!!
Nak
Finally got a little bounce after some progress which environmental issues but still has a battle ahead the meet better standards to protect the surrounding land
From mining activities.
https://www.bloomberg.com/news/articles/2019-07-30/veto-lifted-for-alaska-gold-mine-boasting-100-billion-bounty?fbclid=IwAR37RQw5USRPYUhWNzS9FQjgjN3wgIxT3g_QLSbU2CQAW7rSsqsK224QqGM
ALERT!! FLASH!! I just got home! HUI down 5.15 with. gold down 90 cents–less than 1/10th of one percent—-this is the most bullish set-up possible
THERE are R640 buy signals all over the place!! And I mean to buy–!!!
If it’s the cartel it shows desperation–if it’s investors/traders, it shows fear and disbelief…and both motivations are bullish
This is much. better than gold being up 8 or ten bucks before the FED spiel.
Buygold
Not much the Fed can do at this point IMO. They’ve got a couple more interest rate points they can lower and then they’re done.
No more Volker raising interest rates to 14% on T Bills. All we have to do is bide our time.
Cheers
Looks like the crowd is expecting a pm slaughter after the Fed
and is trying to get out beforehand. Makes sense, they’ve been conditioned to get spanked. I guess the best we can hope for is a .50 cut, or some uber dovish language and the end of quantitative tightening.
The USD has absolutely no fear and keeps marching ahead.
Shares are looking ugly. Bummer.
It’s gonna be a long slog to get this one going
Veto Lifted for Alaska Gold Mine Boasting $100 Billion Bounty
The Environmental Protection Agency is scrapping proposed restrictions on mining operations in Alaska’s Bristol Bay, dealing a victory to Northern Dynasty Minerals Ltd., which is hoping to tap a $100 billion gold deposit in the region.
The move does not guarantee the U.S. government will issue a permit for the company’s planned Pebble Mine. But the decision removes a major barrier to the project, which has been thwarted by Obama-era water pollution limitations proposed in 2014 but never finalized.
Northern Dynasty was up 37% at 2:50 p.m. in New York on the news. More than 6 million shares had traded hands, nearly five times the three-month daily average.
This is some good sh*t from Stewart Thomson=Institutional money managers are only going to become more enthusiastic about gold, silver, and the miners
- Any pullback in the gold price now will be bought by their very strong hands.
- There’s a rectangular drift in play, and per Edwards & Magee (writers of the technical analysis “bible”), rectangles have roughly a 67% chance of consolidating the existing trend, which is up.
- Even if the price were to reverse on a disappointing Fed announcement, there’s great intermediate time frame support at $1360-$1275.
- Institutional money managers are only going to become more enthusiastic about gold, silver, and the miners as the business cycle matures and the Fed becomes more dovish. Any pullback in the gold price now will be bought by their very strong hands.
- What about the stock market? If there’s a crash in September or October, would gold stocks suffer?
- Well, the CDNX index (where the “ultra-junior” miners trade) fell with the Dow during last year’s crash season swoon, but gold and most senior miners blasted higher!
- Please click here now . Double-click to enlarge this spectacular GDX versus US stock market ratio chart.
- From a performance perspective, gold stocks look poised to “destroy” the US stock market.
- A massive inverse H&S bottom breakout is in play.
- Please click here now . Double-click to enlarge this gold versus Nasdaq ETF chart (QQQ).
- In 2011 the dollar began breaking out from a huge base pattern against the yen. Gold began to break down from a huge double top pattern against the Nasdaq. This told me a general risk-on theme was emerging and I suggested investors sell some gold and put the proceeds into the stock market.
- Now, the opposite situation is beginning to take shape and investors should consider allocating some capital from the equity markets to gold, silver, and the miners now…
- And with bigger size when there’s a breakout over 9 on the weekly gold versus Nasdaq chart.
156K jobs =/- a few should be no threat to PMs
ADP Employment Data Rebounds But Small Business Bloodbath Continues
While The Fed has clearly veered from any data-dependence (aside from the level of The Dow), some still care about the state of the nation’s ‘real’ economy and today’s ADP was expected to rebound from dismal May and June data and its did with a better-than-expected 156k print for July.
“While we still see strength in the labor market, it has shown signs of weakening,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute.“A moderation in growth is expected as the labor market tightens further.”
Goods-producing jobs rose 9k while Services dominated once again, rising 146k in July, but notably very small businesses (1-19 employees) have seen job losses for three straight months..
It’s gonna be another one of thoe days–they are selling gold stocks in the pre-mkt trade–GDX-NUGT-JNUG-ETC
I’d prefer to see gold flat before. the FED release…
A requested repost
Good article=makes the case for. a. 50bp cut
The first one framed by Morgan Stanley, which is confident the Fed will cut 50bps tomorrow, is that while domestic US economic data has posted a substantial improvement in recent weeks, the Fed – which now sees itself as the world’s central bank – is less concerned about current coincident US economic data and more concerned about the leading indicators and future coincident US economic data. The Fed points to global growth, trade uncertainty, and manufacturing weakness to justify its concerns. So, given the claims that US data has been so good, Morgan Stanley compared the current state of affairs in…
Same set up every. day=gold down overnight then comes back…fine with me..
today is the most. anticipated. and publicized rate cut in history–25 bps—but i seen. articles saying they will surprise with 50bps…it don’t matter cause what’s most important is. the CHANGE from tightening to easing…
This is a big deal=Worlds largest asset manager, Blackrock, promoting gold at 4:30 am on. CNBC
This validates the bull mkt and explains why pullbacks are quickly bought
The public and pro community have zero to minimal exposure to PMs–and they all want in…this article is from a few weeks ago
https://www.kitco.com/news/2019-07-11/Gold-Prices-Well-Supported-BlackRock.html
Ipsofacto
What’s the next step though … very complicated situation. How many countries have troops in Syria now?
The ME has been a mess for all my life and that ain’t so short now….God knows and if he does he ain’t telling.
