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chickenboye

Long Gold. "Transitory factors" HAHA - Good one, Powell!

Long
CFDs on Gold (US$ / OZ) (TVC:GOLD)  
chickenboye Updated   
TVC:GOLD   CFDs on Gold (US$ / OZ)
Trend Analysis Chart Patterns Technical Indicators Gold goldusd inflation inflationhedge
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trendanalysis chartpattern indicator gold goldusd inflation inflationhedge
Listening to Powell speak today... No intentions on tapering balance sheet expansion, and plans to "MODERATELY EXCEED 2% FOR SOME TIME"...."INFLATION LARGELY BASED ON TRANSITORY FACTORS"...

"12 month inflation readings are expected to move well-above 2%".....

Gold isn't changing, but the US dollar is... Suddenly shiny boomer rocks looks like a great hedge.
Comment:
gold testing $1900/oz after 3 green weeks - personally I expect some short-term pullback soon, but I am too long-term oriented to trade on that possibility.

The macro-case for gold rising further has not changed, and I am more confident in the macro trade than the short-term scalp.
Comment:
We are still holding the line.

Not sure how they can continue to beat gold down while $TIP pushes ATHs.
Comment:
longer timeframe than anticipated but I think gold is going to pop off this year, finally.
Comment:
Putin said some shit and we're off to $2k
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