Gold Got Crushed After the Fed’s Big Surprise. Gold prices collapsed almost 5% to head back to the mid-$1,700 levels last seen in April as a surging dollar wrecked the prices of commodities priced in the greenback.
Gold slipped on Tuesday to its lowest since mid-April as the dollar strengthened in the run-up to this week’s U.S. jobs report, which is expected to come in strong and could cement the Federal Reserve’s recent hawkish stance.
Spot gold fell 0.93% to $1,761.66 per ounce by 01:39 pm EDT after touching $1,749.20, its lowest since April 15. U.S. gold futures settled down 1% at $1,763.60.
maybe for the near term, gold is in bearish mood. yesterday bought at 0.81, but it's not excite me, sold already when "someone" throw big at 0.80 just now... maybe will looking to buy another two or three week
Those who still doubt can check why insider is buying now. Please also check how is those Gold Retailer earning in India when the Covid restriction is slowly open back now, happen in India, public is buying gold using premium price. Capitals Banks of many countries keep buying, becos they know history will repeat, but this time, due to so many helicopter money being print globally, inflation will rise like no tomoro.
Gold price in India swings to premium as easing restrictions lure buyers, so u need to prepare when Malaysia Market slowly open back when vaccination is on schedule this quarters. Be prepare.
Basel III start at European bank first, later by 1Jan2022 London the biggest precious metal trading market will need to comply. All the banks will need to pledged credit asset on those Gold and Silver paper account created from derivatives without physical metal in the bank positions, this will reduce short position of those big croc. China is the largest gold mining country, but they never export a single gold bar, what do u think the red dragon is preparing? They surely support Basel III that start from Europe & later to the whole world. China want a stronger digital renminbi that backed by Gold & they are doing it now.
How bout a high oil price that spark the inflation crisis during 1970-1978, it is more likely happen now when OPEC are having argument among members, or Israel suddenly strike Iran nuclear facility & cause a high surge of oil price.
Gold slid to its lowest in over a month on Friday after a strong U.S. jobs report boosted expectations the Federal Reserve could begin tapering its economic support sooner than previously anticipated.
Spot gold fell 2.2% to $1,763.96 per ounce by 1:50 p.m., after touching its lowest since June 30 at $1,757.70.
Renewed vigour for Malaysian jewellers as gold maintains a short-term uptrend and the latest development in the National Recovery Plan which enables jewellers to reopen in states with over 50% of adults fully vaccinated.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Moneyfind44
411 posts
Posted by Moneyfind44 > 2021-06-02 19:44 | Report Abuse
Dollar up so much in 1 day.but gold still steady..once dollar start drop as now at resistance 1week,then gold take over..go go go pohkong