hi Evil mouse. I notice you still will not respond about your garden in the backyard. Mmm hmm. Australia is psilocybin, but on the level of a continent.
Evil @Overnight, I know I go off topic frequently and so do you, but there's a difference between 'off topic' and 'of tropics'. I was hoping not to clutter a thread with off topic of tropics/gardening/yadda, yadda. This past week shifted house, shifted frogs, shifted garden plus has a traumatic operation in hospital Friday, laid up in bed trying to recover atm. Feeling a bit subdued and sore. But all is good, gotta good wife keeping an eye on me.
Each morning I view an updated spreadsheet of over 600 US, EU & global bellwethers, after the close of the US trading day. Gold and silver today by a long shot are the most bearish of all the bellwethers. On the face of it one could jump to a conclusion that Gold/Silver is heading down into a new correction. What is of more interest to me is; "Is the crowd (this time) right or wrong?". My experience, the crowd is often right, otherwise I wouldn't be tracking bellwethers but often the crowd is wrong and this is where with experience, trading against the crowd becomes profitable. What are my current thoughts?. Gold/Silver is definitely not bullish looking at the shorter time frames, but I think it's climbing slowly out of a bottom. Gold price below 1750 would have me changing mind.
WHICH WAY - THE DOOR! Senior Newmont Corporation executive Dan Janney exits over COVID vaccination policy fallout The West Australian Fri, 6 August 2021 Some 700 workers at Tanami were forced into quarantine last month over a COVID scare. A high-ranking executive at Newmont has reportedly been fired for failing to comply with the global gold giant’s COVID-19 vaccination policy. The company’s North American vice-president, Dan Janney, was let go on Wednesday after a falling-out over the miner’s policy to support widespread vaccinations to combat the pandemic. Newmont operates WA’s Boddington mine south of Perth and the Tanami mine in the Northern Territory, which was last month hit by a COVID scare that forced its 700 workers into a 14-day, on-site quarantine period. The single case ultimately resulted in 19 coronavirus infections of mine workers and their contacts, but none of the cases related to WA. It is understood Newmont’s Perth-based vice-president productivity Mark Rodgers has taken on Mr Janney’s role with immediate effect. “Dan has advised that he will not support or promote the company’s position with respect to COVID-19 vaccination, and therefore he is no longer working for the company,” Newmont chief operating officer Rob Atkinson told staff in an internal memo, cited by The Australian. “We believe each of us has a responsibility to get vaccinated to protect our own health, as well as the health of those around us. We strongly encourage you to become vaccinated as soon as the vaccine is available to you, and we continue to look for opportunities to support government and community vaccination efforts close to our operations.” Mr Janney was a former boss of Rio Tinto’s Australian coal mines. Mr Rodgers also worked for Rio as head of its iron ore operations.
Gonna' be darned funny if Mr. Janney gives one of those final statements while intubated, about how he regrets not getting the vaccine. Then flatlines. Seriously? You are going to risk your life and lose your 6-figure job because, my body my choice? That's abortion dude.
Trading gold is not something to enjoy imo. It has a mind of its own, highly manipulated I suspect. Very difficult to get a beed on due to its unpredictable nature and seemingly not correlated to anything. It has partial fleeting correlations. So what is the consensus of opinion atm? For some last Friday's move is a bearish sell signal while for others it's a buy signal. I'm leaning toward it being a buy signal and have an order in for Monday adding to an existing small speccy position but expecting price to drop on ASX open so my price is hoping to catch that move down.
Here's the performance of the speccy (green line) I'm intending on adding to versus gold in AUD. A small tap down will get me in.
Just an observation, over 20 years, USD Index has risen ~25.0% (black line) Gold USD has fallen ~ 2.5% (green line) Silver USD has fallen ~43.0% (blue line) Will silver continue to underperform?