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Sell the Rumour, Buy the Fact | 16th March 2017

Sell the Rumour, Buy the Fact | 16th March 2017

Gold took centre stage in the last few hours buy rocketing $20USD.

The gold miners had an amazing rally nearing the end of U.S trading:

This is as interest rates were hiked another 0.25%

 

Now we await the Dutch Election results….

And will somebody please mention the Debt Ceiling? Not being covered by media really.

Note that Gold has hit resistance in USD terms and that Australian gold is now $1582 AUD.

USA is the sentiment driver, so while the “carnage” from yesterday was minimal, today’s rally may be nothing short of breath taking.

Is today a profit taking day?

You’d need to decide on that.

The U.S Dollar has sold off and gold has inversely move up:

However, the U.S Dollar is resting on support:

I would simply move gold miner stop losses up to protect gains.

Cash is good, unless everything else rallies . lol.

There will always, always be another trade”.

 

|the Merchant

 

7 Comments

  1. TJ

    I believe on the Titanic the passengers were not informed of the impending doom initially. Pressure on Trump to go full steam ahead and get his latest budget passed may collide eventually with the debt ceiling ice berg issue in the coming days and weeks ahead……

    Reply
  2. Joseph

    Would it be less likely if If the White House agrees to stop or raise borrowing limit before they gov runs out of cash of money?

    Reply
  3. PAUL

    Yeah I can’t believe the Debt Ceiling is so far a non event in MSM, what’s your take on it Jack. Cheers Paul

    Reply
    • the Merchant

      I think that Trump will not want it to be an issue and will do whatever it takes to not make it headlines. Funny. It seems that that the Elites don’t want to mention it either. Probably since their own wealth depends on a smooth debt ceiling process.

      Reply
      • the Speculator

        Just did a post yesterday on it. Looks like they have found a source of funding as the debt has reduced. Looks like a non event so far…

        Reply
        • the Merchant

          Quite a bit of volatility… but still trending up…$1230 USD current resistance…

          Reply

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