Aug. 8 at 11:33 AM
$NEM $AEM $WPM $AU $AG Gold futures smashed through
$3500 in the overnight in Shanghai (
$3515). Now its suppressing again in the west (lack of western demand). The spread now is
$100 between physical/ futures as everyone remains giddy over 4 stock earnings (PLTR, NVDA, META, MSFT), sorta with the MAG 7.....hitting ATH's, pushing S&P to ATH's.
Nobody is watching the other 493... not even close to touching Februarys ATH, and already rolling over... wont be long before the juice has run its course, the sugar high is done, and the overall markets begin to roll over.
Mean reversion will be a bitch.