Go Gold Go
Congratulations On Being Right
The end of November, heading towards the culmination of 2023, is doing it’s best to make everyone look good and “golden”. So far it is; let’s watch and see what happens.
Gold Is Breaking Out
Everyone is happy except perhaps for those who are long the Dollar. Let’s see how if the precious metal increases further. In today’s day and age of “herd mentality” moves it should. Let’s closely watch where it stops but without question, nice call everyone.
Boring Trades Work Too
Boring, did I say boring? That’s me and I’m singing a happy tune. The Dollar, at least as against the Yen is moving in the right direction. All that is needed is for the Yen to continue dropping is for Ueda to get on board. It would be nice to see rates in Japan go higher as the rest of the world holds steady or even decreases rates.
Don’t forget what’s been written in the past. I’m a long term option buyer in the WTI 85s for April and more so July 2024. I own literally a ton of gold bullion and being a bit of a risk averse investor and trader I use options where possible. OPEC meets on this Thursday. Let’s see if Saudi Arabia has control of its “flock”. There’s two scenarios in this meeting. The only one I’m looking at is if the Saudi administration has failed. The price of oil will drop; I’ll be on the buy side. Remember, I buy when they sell and quite frankly you should too.
Don’;t forget about the “widow maker”, Natural Gas. I’m just a sitting and waiting for an opportunity to strike but the weather prognosticators think differently. Not even an impromptu lake effect snowstorm made a difference so I’m here on the sidelines.
Otherwise the long bond ETFs look good, the softs can’t make up their minds, Cocoa, Sugar and Orange Juice are playing in their own arena so like always, I’ll take what’s offered.
By the way did you notice the interest paid on the 52-week bills dropped from 5.135% to 4.935% as did the 7-year notes from 4.908% to 4.399%. That’s not “chicken feed” and it’s something that should be on your radar right here. It’s a free site and everyone is invited to watch. Be like Nike and “just do it”.
Back to life as I’ve learned it. Book is almost done, Udemy construction too. Webpage work is off to the designer and I’m heading out to the wild backyard. Hope you are having a good day and as always my best to all.
Gold’s running so it is only fair to give Ron Sexsith his due with “Gold in Them Hills”. I guess I could have picked something from the Golden Bachelor but that’s just a little too corny for even me. You need to watch these trends people. You need to know that there is a “piling on” action that usually follows breakouts. That’s not the question we must ask. We need to watch and know when it’s over. In any case, best to all and enjoy the rally.