GOLD 0.51% $1,391.7 gold futures

bill cara comments

  1. 3,360 Posts.

    I think we can finally say that this week represented the Trade of the Generation, which is to Sell bonds and Buy Gold/Goldminers. Today for bonds -- before the close -- could be a major sell.

    If there is a trader in the universe who has bought US treasuries for reasons of income rather than panic/safe haven, then there won’t be a second. How would anybody expect to make money in the 5-year Treasury yielding 2.09%? The 10-year yielding 3.39% and the 30-year yielding 3.97% reflect only the ridiculous prices as traders have panicked from other assets.

    The $XAU goldminers index hit a high of 209 in March-08. Eight months later, the index was often in the 64 to 72 range. GG yesterday closed at 18.62. In late September it was double that. Within a year, this stock will likely be at least +100% higher than the close yesterday.

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