Gold is ready to begin its climb as tensions with China and Iran take a serious turn. The recent Huawei crackdown has already weighed heavily on the tech sector and as the trade war escalates further, we are going to see the stock market take a hit. Renowned billionaire hedge fund manager, Ray Dalio of Bridgewater Associates said after the Huawei step, "It should now be clear that the war with China is not limited to the trade war". On the Iranian front, Iran has refused offer for talks. The US is keenly looking for trouble and it is getting clear that it is going to get it sooner or later. Stocks of defense companies including $LMT, $NOC and $RTN have been on a roll.
Meanwhile, Bitcoin is pretending to be digital gold when it is nothing more than a highly speculative asset at this point. A few big players control most of the supply and they swing the price whichever way they choose with no regard for any rules or regulations. Such naked manipulation is rarely seen even in penny stocks. As Gold rises over the next few days and weeks, expect Bitcoin to go down.
Meanwhile, Bitcoin is pretending to be digital gold when it is nothing more than a highly speculative asset at this point. A few big players control most of the supply and they swing the price whichever way they choose with no regard for any rules or regulations. Such naked manipulation is rarely seen even in penny stocks. As Gold rises over the next few days and weeks, expect Bitcoin to go down.
Comment:
Gold could make history if tensions escalate into conflict.
Trade closed: target reached:
Taking profit here. Near term outlook uncertain. This has been a good trade.