GOLD 0.51% $1,391.7 gold futures

The reason is because CBs have backstopped the markets so...

  1. 2,718 Posts.
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    The reason is because CBs have backstopped the markets so instead of a flight to safe haven gold in large numbers, we have investors piling into stocks. Even in that environment, POG has risen. This is because there is demand supporting prices but the majority of cash is going elsewhere. For now.
    Looking forward, i would expect ongoing support for gold due to currency printing. Until there is a clear picture of economic health globally, there will be support for gold. If the clear picture of economic health is poor, gold will retest its record highs imho. This will be apparent in 6 months or so when cos report and bottom lines will be known. If the picture shows economic health is good, POG should go lower. Neither of those outcomes can be guaranteed yet.
 
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