Apologies. Did not see your post until today.
XAU/USD price is not going substantially up any time soon - right?
- Fair assumption but incorrect. To risk sounding like someone wearing a tinfoil hat. XAU/USD is managed and it is not good for the USD in general if POG rises in relation to USD. US wants USD to be the worlds trade currency and it will defend this by all means necessary. There are 2 days in recent history to prove this...Mon 29 Aug 2011 & Mon 1 Oct 2012 when tons of paper gold was dumped into the market. To put this into perspective it was a 4 standard deviation increase in the gold supply dumped into the market that Monday trade. To have that happen again the very next year broke the POG USD bull run. There was Grant Williams presentation about it on youtube sometime back...
However what's China's end-game and time frame for the price of gold?
- Chinas end game is quite clear they want to surpass the US as the world super power. For China POG is just a pawn there is no price target. They need as much gold as possible for the day when they dump all the USD they have into the market...
No doubt about it. Gold will remain a major currency in the world stage.
Fundamentals haven't changed, page-708
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$17.90 |
Change
0.340(1.94%) |
Mkt cap ! $18.16B | |||
| Open | High | Low | Value | Volume |
| $17.74 | $17.93 | $17.64 | $80.48M | 4.706M |
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| No. | Vol. | Price($) |
|---|---|---|
| 1 | 160 | $17.84 |
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| Price($) | Vol. | No. |
|---|---|---|
| $17.90 | 44796 | 3 |
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| Last trade - 16.10pm 22/11/2024 (20 minute delay) ? |
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