hi vh - value apparent in gold equities but tide still going out VH so look before you leap imo
usdjpy is going to 1.22-1.24imo - which means usdgold goes back to 1050-1080 unless we got a big inflation data spike coming from all quarters
id bought some for a mini rally i thought would come from fomc rate hike relief - but then bazinga!
moronic fed just keeps putting out whatever thought bubbles they like, notwithstanding the complete lack of accuracy they shown to date.
they still seem completely unqillign to recognise that the low participation rate infact reflects a chronically weakened core of their consumer marketplace - which means all their old modelled relationships are overoptimistic.
yet they persist in inciting usd strength that will likely stop them doing a 3rd hike cos by the mid next year US will be starting to fall back from USD vertigo
they must share notes with paul bloxham - clueless economic gibberers of the world unite.
on gold - historically usd peaks about 3 months after fomc first hike. so i think feb.march will be a good time to reassess.
buying the non beta names over christmas though.
MRM Price at posting:
29.0¢ Sentiment: Buy Disclosure: Held
