With the big inflation report this a.m., you'd expect metals to be up. But that's not the case. Any ideas why?
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Inflation up, metals down?
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Last: 7 mo ago by XpressAg09
Because they are a low correlation, not a strong negative correlation.
also Bitcoin tanking the last few days moving in step with equities once again.Jabin said:
With the big inflation report this a.m., you'd expect metals to be up. But that's not the case. Any ideas why?
Smart money retreating to safety in banks / bonds with interest rates likely to stay high for longer and now possibly even go up.
Metals will still probably outperform but that doesn't necessarily mean they go up significantly. Maybe just fall softer than everything else.
Metals will still probably outperform but that doesn't necessarily mean they go up significantly. Maybe just fall softer than everything else.
Metals have been STARTING their bull market from a very very long build up and consolidation phase. Central banks around the world are buying them up. But gold, silver, and copper are all at micro level resistance areas. They could see a little retrace before breaking out farther. They very well might not. Go back and look at history when metals bull markets start to take off. They don't provide a lot of gentlemen's entries once the break out happens.
"H-A: In return for the flattery, can you reduce the size of your signature? It's the only part of your posts that don't add value. In its' place, just put "I'm an investing savant, and make no apologies for it", as oldarmy1 would do."
- I Bleed Maroon (distracted easily by signatures)
- I Bleed Maroon (distracted easily by signatures)
And just like that, silver is up
"H-A: In return for the flattery, can you reduce the size of your signature? It's the only part of your posts that don't add value. In its' place, just put "I'm an investing savant, and make no apologies for it", as oldarmy1 would do."
- I Bleed Maroon (distracted easily by signatures)
- I Bleed Maroon (distracted easily by signatures)
Gold has had something like 10 consecutive all-time high closes and we are going to judge its inflationary power by a government report reaction? Let's look at the entire weight of the evidence. S
Can't judge metals on a 2 minute chart, imho.
lower your time preference
Bitcoin is sitting at 69K, hovering right around an all time high.Quote:
also Bitcoin tanking the last few days
Your definition of "tanking" and mine are very different!
I'm positive it WILL tank again... it's just not right now.
LMCane said:
also Bitcoin tanking the last few days moving in step with equities once again.
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