Loading ...The struggle is real
Been tracking Gold Futures June 18 and $US Dollar Index Futures June 18.
An interesting development last 6 trading days. IMO a complete “stranglehold” of the Gold and $US Index futures market is talking place currently. The market appears calm but rather IMO it may be the exact opposite.
Deviation from 120000/$USD is near non existent the last 6 days this ratio has also developed into strong resistance since the start of the year. In the past year (2017) Gold price floated freely above the ratio as much as it was traded below the ratio. IMO the ratio acting as overhead resistance is alarming.
IMO the calm is the exact opposite and viewing the above as heightened financial market stress (manipulation). Not sure which way it’s going to develop. EURO Gold is showing the same.
GLTA
Hi red label. Thanks for the post.
Could you elaborate a bit more? Maybe put in some chart?
Thanks again. So interesting
The $Gold has just pierced resistance tonight in Asia Cervantes. Look for Euro Gold to play along with the $Gold price. Recently Euro Gold has faded stopping the $US Gold rallies for the last 15 months (ie Jan 7, 2018 stopped the move out of Dec 12, 2017).
Cervantes the basics is investors need to differentiate between price changes in $Gold as currency plays or bull/bear commodity valuations.
Agree. This tight teeter totter action in Gold/$USD has got central bank signature(s) all over it. The only underpinning of fiat $USD is confidence. Furthermore, all other fiat currencies are measured against the $USD, the global reserve currency. I wouldn’t be surprised to learn that its a joint effort by OECD central banks to keep the price of gold in a close relationship with the $USD – (120000/$USD), and they may even attempt to keep the $USD stable. They must be really, really worried.