Bought Gold on Friday night. But I may have been too early as oil went up and the market dropped on news of the Houthis capturing Bab El Mandeb.
Hard to know how this plays out for gold. Its a risk-on asset, any hot war in the ME means they sell gold. Rising oil/diesel increases the chance of rate hikes on Wed. I don't think the Fed should increase rates - we've reached the stage where US govt debt cannot be paid off unless the dollar devalues, and increasing interest rates doesn't help cost-push inflation. But they might do a token rate hike just for credibility.
Looks like higher inflation for a few months. This is the IRGC's play to unseat Trump in the mid-terms. Maybe the market picks up if Trump does a helicopter-dump of money on voters, but I haven't see any signs of it in the market yet. And if it happens, gold goes up further :)
Still haven't found anything to buy, for the rest of my trades:
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