In this week's Off The Cuff podcast, Chris and Mike “Mish” Shedlock discuss:
- The Complete Sham of Corporate “Earnings”
- Now an art of putting lipstick on a pig
- The Growing Revolt
- Everywhere you look, the Establishement is being increasingly questioned
- The Empire Digs In
- More, and more secretive, measures are being taken to protect its advantage
- A Brightening Future For Gold?
- Is it finally breaking out of its consolidation phase?
The price of gold has long been in a consolidation phase, and it now seems to breaking out to the upside. There are both fundamental and market-driven reasons for this.
On the fundamental end, supply is becoming a real issue. And with the Powell Fed completely caving to the markets, expectations of a more 'dovish' Fed policy going forward is also adding wind to gold's sails. As Mish states:
Gold has been capped for quite a while here, and it's having a lot of trouble getting through that 1290 zone, it seems to an absolute inviolable ceiling right now. I think that's a false ceiling, I think it's been put there by somebody. The first month of 2019, gold was just like a flat line, literally a flat line of going nowhere. It all just looked managed to me – that's my view; we could have other views.
by davefairtex