Gold Jumps, Dollar Dumps After Dovish Fed Minutes

The dollar index had been falling in early trading - extending its freefall from the Nov 1st Fed statement - but legged down on the dovish minutes to the lowest in 5 weeks. Gold is extending its gains, above key technical levels and while the curve is steady, long-end bond yields are sliding modestly.

 

Today is the worst day for the dollar index since Sept 7th...

 

And Gold has erased its plunge from Monday...

 

Early weakness in bonds has been entirely reversed...

 

For now the machines have not figured out how to kick stocks higher...

Comments

Herdee Wed, 11/22/2017 - 14:32 Permalink

On Shanghai, Hong Kong and Dubai the physical delivery gold buyers were out in force on the last pull back. It's resulting in foolish behaviour by the crooks in Chicago, London and New York that think that they can keep gold prices down just with slamming gold with unlimited naked short futures contracts. It doesn't work that way anymore because the far east sees the cheap price as a deal and an arbitrage against the demented mindset of Washington that uses propaganda as its' only tool left now besides bombing. You can talk to commodities traders, physical demand and storage is very important, not the cheap manipulation by Banks. Once gold is gone to China, it's not coming back.

In.Sip.ient Wed, 11/22/2017 - 15:21 Permalink

You read this and a few other articles and then youask yourself;  With polticians ( and their flunkys ) doingmore stupid things, BtC must be getting ready tojump... right??? And I check and 1BtC = US$8,294   ... Even I find it hard to believe, but clearly theidiots running ( or ruining... take your pick )governments around the world are clearlydissing their own stock in trade here.If this keeps up, blockchain ( such as BtC )will be the ONLY "currency" out there in about5 years...  !!! 

alexcojones Wed, 11/22/2017 - 16:01 Permalink

When Gold "jumps" over $1300 and skips happily & quickly to $1400, then these columns matter. Not papper gold either.MAGGA - Make Authentic Gold Great Again