We didn't need intervention to get here.
If the CPI was weak USD was expected to rise anyways as shorts covered.
Strong CPI means shorts covering more aggressively, as probability of a June pause dropping.
The sound of liquidity being sucked out of the market is turning to a roar, there are European, Japanese, American central banks doing industrial-strength vacuuming.
Got cash?
I'm out of all paper gold and silver and their future, out of all CAD, GBP, EUR, JPY futures
As I said a couple of days ago, it still isn't too late to sell. I will sell more into the next rally in a day or so.
I will reload on confirmation (not speculation) of a Fed pause, or a breakout. I would like to buy more gold sub $650 and silver sub $12 and its looking better every day
Inflation, recession, China slowdown on the mind. |
