irish_bob wrote:
Joe-Levity wrote:
What the hell's going on with gold now? It's up way over 10% in just a month. Is it really because of Yellen's speech?
There's sod-all inflation anywhere but Venezuela, so why the gold?
dollar is weakening , commodities have bottomed , its bear market cycle came to an end , happens all sectors , it should continue to rise now for the next five years though is a little over bought now
So, the EUR bottomed at $1.057 in Dec '15 and spiked to $1.152 this month and is now about $1.13. Saying "its bear market cycle came to an end" is sort of handwaving rather than an explanation.
About 6 months ago gold was only at $1050, now it's well over $300 up.
The last time gold rose $300 in such a short period, we know why that happened: there was a massive financial crisis that led to the greatest depression in the history of capitalism, which is still with us.
But right now, there's no overt crisis going on. It's the only time gold has risen so dramatically without there being a big ventilator-faeces interface scenario happening.