Big bad event 'Yellen speech' is over. Not much negative news on the horizon. Tight labor market is boon for inflation, higher rates mean bigger Federal deficit to pay interest on the $17 trillion debt.
What more is there on the horizon ? War and financial crises. Debt and deficit . Corruption of Wall Street and Washiton.
Gold didn't drop yesterday on that news. Has recovered most of the loss this morning. Silver has completely recovered.
The jobs report should be looked at positively for gold. Tight labor market always lead to inflation. Which is the unspeakable target of the Fed. To inflate away the debt and deficit.
Ten years ago a dozen egg was 70cents. Today $1.80. Ten years from now it will be $5. Real Estate has doubled or tripled. US$ losing its value everyday.
Libya announce opening two sea ports for oil export. Allowing half million barrel a day out the country through rebel held port. Brent dropped a dollar. This took gold down along with it. We still have the all important? non farm payroll at 8:30.
I see no major downside from either news. Blood is boiling hot through out mid east. ISIS has won admiration, loyalty of Muslim youth. As US plots to martyr their caliph things could only get worse. And another US puppet dictator in Egypt is planning to execute 500 people for opposing the military coupe that overthrew a democratically elected government.
Gold closed up. Sliver real strong. If gold doesn't go down tomorrow on a oustsized non farm payroll I think will be extremely bullish for gold.
Alright , bear raid starts. Down $5. Factory order at 10am. Yellen speak at IMF at 11am. Tomoroow non farm payroll,unemployment claim, jobless rate and ISM.
Expect good numbers, Gold support at $1320, then 1310,then 1300. 1300 is critical for bulls. This maybe the last bear raid before second half rally starts.
Estimate was 179k. Ten minutes after ,gold still holding up strong. Down only 50cents. A year ago gold would have tanked $50. Job tightness creates wage pressure, feeding inflation.
Agree. Which is why this latest round of lay off is house cleaning before putting company for sale.
Maybe worth $3+ in a buyout.
Worked again. As soon as Nymex closes. Gold and silver tanked this afternoon.
Their tech and design contracts are worth way more the 70 million dollars market valuation. Competitors are valued at $5 Billion. I bought this morning sub 83 cents. Triquent, RFMD , Skyworks, Crus..........all possible acquirers. This lay off makes company more attractive to acquirers.
RF tech has a bright future. Every tech piece will communicate with each other in teh future. All those dones will talk to each other just like humans. Even Google ,Facebook might want to buy them .
it also does not quality for preferential EV treatment in Chinese urban registration lottery. Chinese news also reporting Teslas are held up at customs because of paperwork irregularities. Vehicle ID number doesn't match those on import papers.
Only news I found is Tesla delivered 8 cars in April. No delivery in May or June I can find. There is a news report Tesla cars are hold up at Chinese customs because they are not licensed, permitted for sale in China. Previous sales were carried out illegally.
Globex has no volume, easy to manipulate. And next morning gold bounces before NYmex open. Its been like this for month.
Gold touched bottom at 1180. What happens afterward was 250 dollar rally. A $250 rally could take us to $1590 which is the floor of 2011 ~2013 trading range. The next real resistance.
Gold is now trading above 50,100,200 and 300 day moving average. Jewelry demand, geo political risk demand, all favorable for higher gold.
We have no real sellers, a few stubborn short sellers every now and then. $1310 support holding strong. Analysts can talk how US economy doing so well, gold is barbarian relic all they want. Physical demand is strong and rising. Only supply in the market is paper futures. This game will end badly.