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It busted thru $2200 on the way to $2300 possibly by Friday? Futures were up as much as $30 last night and slowed down to the teens this morning, so I was able to buy a few small gold and platinum coins at Friday's close. Platinum is cheap like silver, but neither are gold.

Gold stackers have been waiting for this since $1500, but instead of euphoria I feel anxiety of what economic conditions are being telegraphed. I might even go long on a couple of stock/BTC ETFs to participate in the sugar high. I was able to buy 9 month CDs on Friday @ 5.35% from JP Morgan.

I am trying to diversify my new cash while favoring gold mostly. I am not buying anymore silver because it is too heavy. If gold dips I will buy more, but if it continues to $2500 I don't think I am a buyer.
 
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We have clearly broken above the red downtrend line and also out of the yellow channel I drew. If this retests 26 and it holds then 30 could be right around the corner. Maybe we start a new channel between 26 and 30 going forward.
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Pretty strong move in the miners the last month or so. EXK, FSM and CDE up almost 100% since March 1st.
 
We all know these initial numbers are garbage that will be significantly revised later, but the headlines move the quants, so:
Private sector job growth expanded in March at its fastest pace since July 2023, indicating continuing buoyance in the U.S. labor market, payrolls processing firm ADP reported Wednesday.

Companies added 184,000 workers on the month, an increase from the upwardly revised February gain of 155,000, which also was the Dow Jones estimate for March.

In addition to the strong employment pickup, ADP reported that wages for workers who stayed in their jobs increased 5.1% from a year ago, the same rate as February after showing a steady easing going well back into 2023. Those switching jobs saw gains of 10%, also higher than in previous months.

"March was surprising not just for the pay gains, but the sectors that recorded them," said ADP's chief economist, Nela Richardson. "Inflation has been cooling, but our data shows pay is heating up in both goods and services."
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If the numbers are an accurate reflection of reality, it's a strong sign that inflation is nowhere near tamed. Ammunition for the Fed to justify holding off on rate cuts.
 
Macrogenics weekly chart. MGNX.
Weekend Trend trader system currently holding with a gain of 137.36%.
[So far, so good!]

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Middle East getting hotter:
At this point Israel's ties with key Gulf countries like the UAE are near breaking point, after only a few short years ago diplomatic normalization was hailed through Trump's Abraham accords. But international and Israeli press reports are confirming the UAE has announced it is halting all coordination on humanitarian aid with Israel.

Further, as Israeli media reports: "The United Arab Emirates (UAE) has announced a suspension of diplomatic coordination with Israel in the wake of the death of seven World Central Kitchen humanitarian workers in Gaza." Simultaneously, Israel is busy putting its embassies across the world on high security alert due to the "heightened Iranian response threat" in wake of Monday's Israeli attack on the Iranian embassy in Damascus. All of this served to send Brent soaring in the last two hours, with Brent spiking above $90 for the first time since October....
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Oil Surges Over $90, Stocks Tumble After Israel Puts Embassies Around World On Maximum Alert | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
www.zerohedge.com www.zerohedge.com

 
Took profits on Fortuna today will look for reentry in June or so. Holding the rest of my miners. Gold hit 2324 high is 6 bucks below the 2030 I was looking for to buy some puts. Will re evaluate that tomorrow.
 
Oil prices are going up because the Ukrainians have been attacking Russian refineries with drones to damage their economy.

That causes the POO to rise. The US told them to knock it off because of it.

When you think about it... Russia benefits from higher oil prices no matter what.

These people are stupid...
 
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Having said that, many gold analysts think the price has been overinflated by speculators and that continued demand by central banks like China's may not spur prices much higher.
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www.dw.com

What's behind China's gold-buying spree? – DW – 04/05/2024

For more than a year, China's central bank has been buying up large amounts of gold. The move, along with the wars in Ukraine and Gaza, have helped spike the price of the precious metal to new highs.
www.dw.com www.dw.com

:ROFLMAO:
 
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