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Gold Futures - Jun 24 (GCM4)

Real-time derived
Currency in USD
Disclaimer
2,315.50
-30.90(-1.32%)
Real-time Data

Gold Futures Discussions

Gold may want to consolidate a little before attacking 200 DMA (1804).  Jumping 10% in 9 days isn't like a gold market. I suspect strong forces external to normal market players so calling for need to be cautious
Its all been documented, central banks have been buying. Also major banks are probably also in there ahead of Basel III. All the info is out there. Plus physical demand has been very strong, futures just lagging the real market and playing catch up. On top of that many market manipulators got their hands slapped recently so if just left to market forces alone Gold should be over $2,000. Supply and demand, that’s all.
One other factor ITAS: AISC has been rising for many producers driven by inflation to the extent that mines are becoming uneconomical. Quick and dirty calculation is Gold production could fall signicantly in 2023 if the POG remains at these levels. I’ll take off now and leave you in peace :)
All good stuff. Plus I think Etienne Les said it too. Last week abnormal pump was mostly about short covering. So now, I hope markets consolidates rather than re-traces. Over longer time frames, I firmly believe inflation is coming with double hump cause this FED has no balls to stand ground. This means FED rate increase phase.2 will be longer than market expects. Gold trades may want to take profits before the troughs
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