I don't know. I see gold making new highs in every ccy and at an even more vertical rate in JPY, Euro, CNH etc. Gold is going up against everything because the CBs overseas are serious abt breaking the USD's grip on global trade. The petro dollar is dead. KSA may be there or they will be represented. Now... this BRICs summit is another step tward a new "bretton Woods " agreement bc the BRIC trade unit will be convertible. I think we have to stop tinking about gold as a "gold price" market and think of it as a gold quantity market.
Well said A+C. Someone forwarded me one of JJ's posts however long ago, and I had that same experience. I had to subscribe immediately, then decide who I was gonna un-follow to make room for reading the market vibes. Consistently entertaining and educational; a scarce commodity indeed.
'This would make him mine' is so goddam alpha!
That Steinbeck chap.. he had a way with words for sure.
That note made my day! Thank you for including it. Always a joy to read your market wraps!
JJ...what's the dynamic with the rising dollar that drives gold higher? Typically that relationship is inverse...correct?
I don't know. I see gold making new highs in every ccy and at an even more vertical rate in JPY, Euro, CNH etc. Gold is going up against everything because the CBs overseas are serious abt breaking the USD's grip on global trade. The petro dollar is dead. KSA may be there or they will be represented. Now... this BRICs summit is another step tward a new "bretton Woods " agreement bc the BRIC trade unit will be convertible. I think we have to stop tinking about gold as a "gold price" market and think of it as a gold quantity market.
Correct. Stronger USD is typically seen as a head wind for Gold and the commodities base as a whole - typically.
Thanks Rebecca. I love Steinbeck, too.
Well said A+C. Someone forwarded me one of JJ's posts however long ago, and I had that same experience. I had to subscribe immediately, then decide who I was gonna un-follow to make room for reading the market vibes. Consistently entertaining and educational; a scarce commodity indeed.
Gentlemen, Thank you!