Beware the big bounce bitcoin
After a decent rise the dollar index is falling again and gold is up quite sharply. The Trump Administration has been keen to take credit for the massive rises in U.
The fall in the dollar index may, or may not, be due to Fed intervention, but there has been enough comment from the Administration that a weaker dollar is helpful to U. They thus could move either way quite rapidly. Gold may be impacted initially if the dollar index rises on interest rate hike news, but this will largely have been taken into account by the markets, and any gold price fall is likely to be shortlived.
This puts the gold price in something of a dichotomy. With the dollar seemingly set on beware the big bounce bitcoin resumed downwards path again, despite the prospect of interest rate rises ahead, gold is seeing the benefits — in U. Silver Ratio currently sitting at above We suspect silver will have its day, but not yet perhaps.
It remains securely under the control of the futures markets and the big banks — notably JP Morgan — which reportedly holds an enormous silver inventory for its clients and on its own account while having the biggest silver short position on COMEX at the same time.
Ultimately it will no doubt allow the silver price to rise and see huge gains, but the timing of such a beware the big bounce bitcoin remains obscure. But meanwhile beware the bounce in equities and bitcoin. Indreased volatility could see them turn down again equally sharply. History shows that major market collapses beware the big bounce bitcoin usually accompanied by temporaru upwards recoveries sucking in the unwary investor who thinks the worst beware the big bounce bitcoin be over.
Lawrence Lawrie Williams is a well known London-based writer and commentator on financial and political subjects, but specialising in precious metals news and commentary.
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