Since last Oct, the change of U.S. Monetary Base took the lead of the gold movement. Before gold spot retreated from $1000+ to $900, monetary base has already declined from the peak about 1 month ago. Around 2 weeks ago, monetary base began to pile up again and gold price also seemed to find the base.
U.S. Fed begins to purchase long term treasuries and MBS, which may boost the money supply in that case and gold may maintain the bullish trend as you mentioned.
Try publishing this in the UK weekend papers: Traders bet BankofEngland will raise rates to 6.25% --highest since 1… https://t.co/GWXrTEAk4R(9 months ago)
Poor start to a slow market day as Ezone PMIs disappoint. Im still keeping an eye on the rare (-2%) USD-GOLD combo,… https://t.co/UyRzWsRbs7(9 months ago)
-5% YTD is not good, while -7% from the year highs can be tough. Gold traders have their eyes fixated on this for n… https://t.co/NV5UMKsfNo(9 months ago)
ما وراء هبوط الدولار مع الذهب و من منهما يتمكن الارتداد؟
موعدنا الآن في غرفة شركة إكس أم لجلسة الأسواق
https://t.co/Y7tD0RxCS2
@XM_COM (9 months ago)
Jobless claims > 300k before next FOMC meeting would be ideal for Fed to make up for any CPI upside surprise (9 months ago)
"Cook & Eat at Home" scheme may come next to defeat UK inflation... (9 months ago)
Earlier in the week gold selloff was attributed to smaller than exp China EASING. Metal is now holding v well despi… https://t.co/ZW9cmXTPWW(9 months ago)
Gold, Bitcoin, USD Combo
I mentioned last week on here on how and why both gold and USD are falling together. Since then, the trend accelerated alongside another detail.
View Hot-Chart..
I would like to add on something about gold.
Since last Oct, the change of U.S. Monetary Base took the lead of the gold movement. Before gold spot retreated from $1000+ to $900, monetary base has already declined from the peak about 1 month ago. Around 2 weeks ago, monetary base began to pile up again and gold price also seemed to find the base.
U.S. Fed begins to purchase long term treasuries and MBS, which may boost the money supply in that case and gold may maintain the bullish trend as you mentioned.
I agree the 2-month cycle. If that's the case, EUR/AUD may trend lower to 1.9366 and 1.90 level?
Thanks!