I had thought yesterday that a Gold price pullback is in the cards...
After reading over the days events in the world, I think the chances are this will NOT happen. This could well be it! The beginning of the next rapid and significant rise in the price of gold (and commodities) -
Just a few of the lovely world events -
Us acknowledges that it has undertaken military moves against Kurdish rebels.
Euro zone inflation rose in October to the highest level in over two years.
China raises gasoline prices by 10%.
Bank of Japan Governor warns of growing threats to the economy, interest rate increase unlikely.
China's current account surplus reaches 169 billion in the first half of this year. Last year's first half was 91 billion.
Strikes in dubai by thousands of workers paid in currency linked to the dollar. The fall of the dollar + inflation is destroying the value of their take home pay.
Central banks are not selling any gold.
Oil prices climbed $4.00 on Wednesday. Talk of oil over $100.00 is now commonplace.
Housing correction expected to continue (loss of confidence in the value of real estate).
Wall street Journal editorial talks openly about Ben's responsibility to avoid 'disruptions in the monetary system'
US drops intererest rate.
US mortgage rates lowest again in months
Body fat and cancer linked (... ok, nothing to do with gold, just more bad news!)
Crisis = Opportunity.
We may be off to the races here with gold. When bull markets start, they move fast.
Happy Friday!
BK
