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przemyslaw-radomski

The “Crazy” Day

October 12, 2018, 10:12 AM Przemysław Radomski , CFA

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The general stock market declined yesterday, but this time the session was far from being boring in the case of the precious metals sector. Silver moved higher in a moderate way, but gold and gold stocks soared. The President of the most powerful country on Earth called the decisions of the most important monetary official “crazy”. That’s definitely enough to shock the markets and to trigger a substantial move. Definitely a lot happened, but did as much change?

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Dec Market Overview

Gold Market Overview

There are plenty of myths about the gold market, in particular about the alleged factors which are supposed to prevent gold prices from declining. In this edition of the Market Overview, we refute five of them:

1. Trade wars and lax fiscal policy are negative for the US dollar and positive for gold.
2. Central banks’ purchases create a floor for gold prices.
3. The price of gold cannot decline and stay below the gold production costs.
4. There is a disconnection between paper and physical gold prices and the former has to catch up with the latter eventually.
5. The extreme bearish CoT positioning necessarily implies the turning point in the gold market.

Read more in the latest Market Overview report.

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