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8/11/17

CPI soft, base metals down, precious metals up

Gold at 1292 early doors on the technical algo adjustments from the US macro input today. Later we'll see whether there are real PM buyers, but with GLD inventories at 12 month lows (in fact, lowest since February 2016) there's plenty of room for new interest from the Wall St. jocks if they decide they're bored of Amazon and Facebook and similar baskets of wonderful.


Today might be fun, but next week looks more interesting.

UPDATE: Gold back down to UNCH. The pop had no legs. 

PS: By the way, the people shouting NORTH KOREA!! GOLD!! 1300 IS JUST THE START!!" are the utter dumbasses of the market. Make a note of their names today, it'll do you a lot of good in the future.