We have seen a 15-month correction in the gold price and gold stocks have been beaten up badly. But the fact is the gold price only fell 19% during that correction.
Having the RBA back up your trading strategy is easy money. Until it isn’t… The rush for the exits was swift, and I’m sure there are a few traders still licking their wounds.
In today’s Money Weekend…bonds throw a dummy…what goes up must come down…so what about gold stocks?...and more…
Gold spiked higher on Wednesday and held those levels in the next session. It will be interesting to see how gold trades over the next few weeks.
The market is currently way overstretched to the upside due to the relentless money printing from the US Fed. We are heading into the riskiest month of the year, October, and the Fed has said we are getting close to a taper.
It looks like disaster was averted this week with the Evergrande situation going onto the backburner and the FOMC meeting ensuring the market that taper is coming, but not for a few months yet.
The troubles in the Chinese property market as a result of government clampdowns on property developers are starting to cause some serious havoc.
In today’s Money Morning the butterfly effect electricity prices explode gas ignites Australia’s future the opportunity and more...
I’ll wait to see how things are looking at the end of this month. If we get a monthly sell pivot confirmed in the ASX 200 (a closing price below 7,415 at the end of September), I may take some more money off the table.
I have been calling for a stronger US dollar for a while now with a target of 96.00 on the US Dollar Index. I’m going to back off from that call for now due to the moves we have seen since the Jackson Hole speech.