@Mentawai: You are probably right; I don't study France all that closely. However, I was surprised to see in a recent report (probably quoted in ZH) how much gold reserves they had. Of the same order as Germany, and (of course) much more than the UK. I suppose that must mean something.
"The trigger for the latest move higher appeared to be an unexpected increase in new jobless claims in the US reported on Thursday. The worlds largest gold exchange-traded fund, the SPDR Gold Trust, on Thursday added 1.8 tonnes to its gold holdings to hit a record high of 1,308 tonnes.
Edel Tully, precious metals strategist at UBS in London, said it would be hard for gold to sustain prices above $1,250.
Current gold support is quite narrow, with physical safe haven buying lagging well behind that of May, she said, adding: A positive for gold right now is that scrap supply is scant, but we think this will increase at current prices, becoming more apparent next week as it feeds into the system."
Needless to say, the goldbugs on ZH have another view.
Good point, but if Germany get knocked out early (unlikely I know), I predict productivity will go down over there. (Mind you, that will also happen the day after the night after they win :-) ).
There's an old joke about a Frenchman visiting NYC for the first time. He is taken to see the Empire State Building. "It's great; it makes me think about sex". He goes to the Statue of Liberty. "I love it; makes me think about sex". They take him to Times Square. "Fantastique - makes me think about sex". They ask him: "Why does it make you think about sex?". "Mais oui, because everything makes me think about sex".
Try publishing this in the UK weekend papers: Traders bet BankofEngland will raise rates to 6.25% --highest since 1… https://t.co/GWXrTEAk4R(10 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(10 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(10 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 (10 months ago)
Jobless claims > 300k before next FOMC meeting would be ideal for Fed to make up for any CPI upside surprise (10 months ago)
"Cook & Eat at Home" scheme may come next to defeat UK inflation... (10 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(10 months ago)
تجنب الخطأ الشائع المتمثل في خلط مؤشرات الناسداك وداوجونز و الاس ان بي وإليكم كيفية تفاعله بشكل مختلف مع تذبذبات في عوائد السندات ليست كل مؤشرات الأسهم متشابهة. شاهد الفيديو
How to improve your decision--makingh between Nasdaq100 and SPX by watching technicals in bond yields -Details in video description.
Latest Hot-Chart - Apr 09
Bitcoin versus Miners Performance
As many of you know 2023 was kind to members of our WhatsApp Broadcast Group who snapped up shares in bitcoin miners, while 2024 has so far been more superior to Bitcoin than most of the miners...
View Hot-Chart..
http://www.moneyweek.com/investments/precious-metals-and-gems/money-morning-gold-price-correction-02501.aspx
However, I was surprised to see in a recent report (probably quoted in ZH) how much gold reserves they had. Of the same order as Germany, and (of course) much more than the UK.
I suppose that must mean something.
Fireworks in the coming week?
"The trigger for the latest move higher appeared to be an unexpected increase in new jobless claims in the US reported on Thursday. The worlds largest gold exchange-traded fund, the SPDR Gold Trust, on Thursday added 1.8 tonnes to its gold holdings to hit a record high of 1,308 tonnes.
Edel Tully, precious metals strategist at UBS in London, said it would be hard for gold to sustain prices above $1,250.
Current gold support is quite narrow, with physical safe haven buying lagging well behind that of May, she said, adding: A positive for gold right now is that scrap supply is scant, but we think this will increase at current prices, becoming more apparent next week as it feeds into the system."
Needless to say, the goldbugs on ZH have another view.
Some people are like that about buying gold.
:-)