gold prices are folded under the mighty dollar

gold prices are folded under the mighty dollar

Spot gold fell 0.4 per cent to 1,178 dollars an ounce at 6:04 am GMT. U.S. gold futures dropped 1.4 per cent to 1.172 dollars, after touching its lowest point since early February to 1,170 dollars per ounce.

Raised by the U.S. bond yields, the dollar climbed to a maximum of eight months against the yen.

"The dollar has been really strong this morning and is pushing up. Shanghai arbitration is negotiating a $ 25

premium, what

seems to suggest that there are sales of Asia instead of shopping", said a

dealer of an investment bank commenting on the dollar, as quoted by Reuters.

Precious metal crashed in November due to the concerns of investors about the promises of the President elect

 Donald Trump promote infrastructure spending and revive the economy.

The movement pushed to maximum record United States actions. The

perspective tightening monetary policy by the Federal Reserve of the United States is also strengthening the US currency.

"Since Trump won the presidential election, the feeling

the market has been changing dramatically. Gold is being

pushed down by the stronger dollar and a rise in the rate of

interest. Investors looking to buy riskier assets instead of gold as a safe haven ", saidTetsu Emori, President of Capital Emori

Management, quoted by Bloomberg.

The 10-year Treasury yield won around 3 basis points to 2.382 percent from the previous closing Wednesday.

"The dollar is firm and triggers some sales. There were some stops around $1,180, and all were taken,"said Ronald Leung, head of sales at Lee Cheong Gold Dealers inHong Kong, stressing that there had been some physical shopping, but not helped the precious metal.

Expected spot gold falling to 1,172 dollars an ounce, since 1,184 dollars support does not seem to take effect, according to Reuter, Wang Tao technical analyst.

recent article in the newspaper Expansion titled the gold rally is coming to its end

replica others published recently in the same tone: ' after 12

years of bullish phase, the price of gold becomes stagnant and expected a period of

correction '.

The article is not based on any analysis or own criterion, merely makes automated speaker of other publications. My comment today intends to complement this information, and leave to the reader/analyst

draw their own conclusions.

The prime suspect made that I find in all this is the timing. To the

negative recommendation of Goldman Sachs, joined the announcement of sale

Gold by the Cyprus Government as a prerequisite for its bail-out.

In addition to the minutes of the last meeting of the FED, which leaked

early and sheepishly said that perhaps face end of the year

they will reduce the stimulus to the economy. All these data released to the

time, they did drop the price of gold and cut a technical career

bullish which was headed for the 1,620 USD/ounce, protecting the massive positions short of hedge funds.

I leave the part of the "recommendations" of Goldman to the end. The fact of official data in advance preferred groups, seep

I would prefer not to comment on it. Cyprus gold reserves, amounted to 10

tons, they are insignificant, they are 1/4 of what you buy China monthly.

I therefore focus on the State of the economy, "recovery" (Elimination

of stimuli) and its relationship to the future price of gold.

There is no recovery, this must be clear. As is clear from

macro data that I attached below, the Bank of England and the media

economic next to the establishment, CNBC type recognize this (take a few minutes to this interview please). The exuberance of the bags is not

based on growth and business performance expectations, but in massive injections of liquidity created from scratch by the Federal Reserve.

The FED is the only lifeline of the market and could never be removed without

cause a serious recession and correction on the stock exchanges. Designates David Rosenberg is not a question of being positive, negative or neutral with respect to the evolution of the markets, the most important is to understand what you

pushes the economy: the artificiality of the FED.

Conclusion: the bearish scenario for the gold price, according to the article of

Based expansion that the worst of the crisis has passed and the reduction of the

stimuli, seems unfounded. Employment, manufacturing data, demand

internal, suffer a decline, only the stock market rises. The FED and the Government know

the perception that is not questions is "If the bag goes well, the"

"economy also" and its first objective therefore is to inflate the market of

values.

But let's get on the grounds cited in the article based on a report of Société Generally, that the price of gold is in a bubble.

This time use the Socratic method: I present contrasting data and you from the axiom of "the gold rally is over, it 

is a bubble" the

You desafiáis, then each get to your own conclusions:

There is a historic 95% correlation between the balance of the central banks and gold. The trend is continuing to expand. The balance sheet of the EDF in 2008 was 800,000 million dollars. In 2013 are more than 3 trillion and in 2015 it is expected to be5. The Japanese measure is unprecedented, is above any comparative.

Record import of gold in China. We must not forget that China is the world's largest producer and it does not export a single gram, everything stays in the country.

Why will you purchase both? What is the scenario for which are

are planning? Do you not read sell Goldman's recommendations?

Record sales of U.S. gold and especially silver, demand has

caused power outages. Who buys gold in full "recovery"?

Many other items reported scarcity of metal: ABN-AMBRO suspended payments in gold, didn't find physical metal and delivery role to settle their

contracts. Why breaking a contract if the expectations are low and?

Therefore there will many offer physical gold be?

Massive liquidation of the largest ETF of gold in the world: SPDR Gold Trust (GLD). The press announces it as "sales" of gold positions.

India, Russia, Turkey etc. added major problems to the shortage.

If you're the propdesk of Goldman and want to buy gold in a scenario

of scarcity, what would you do?

If you are the Government of a country that manages the reserve currency and you are devaluing it en masse, would market enfriarías, income you try to contain to?

would that not serve as alarm?

Gold isn't a Commodity (raw) as the article says of

Expansion, not consumed. It is a currency (currency), "the leading competing

currency". From 4000 years ago.

The current strategy is to gain time and manage the perceptions of the people

with respect to the economic decline and recovery. Expected us a collapse and a

change in the monetary system in the near future, a transition out of the US dollar. Get ready as they do the powerful that you incite

to sell, buy. It accumulates. Forget about daily fluctuations.

You might want to wait for a correction to accumulate, some Argentines,

Cypriots etc., also tried it. Things sometimes happen very quickly. One of the protagonists of a Hemingway book asked how he had ruined and replied: "at the beginning little by little, after coup".

Finally I leave you with another recommendation of sale of Goldman Sachs; in this

bullish phase that lasts 10 years there have been many. In 2010 Goldman

He recommends selling since prices will fall in 2011. 2011 gold quote your

historical maximum to date. The recommendation of Goldman Sachs is properly annotated, we will review it within 6 months.

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