Important to note, I’m still without any water. We rented a hotel room last night just to shower warmly and were summarily rejected upon entering said shower — as the hotel water was initially cold. Upon receiving our most venomous complaints, the Hilton branded hotel fixed the issue and we all bathed warmly and with some fleeting dignity. I am here now, at home, eagerly awaiting a plumber to relieve me of my thirst and reinstate flowing water throughout the house.
Futures are sharply higher, +95, and gold is down. Not only is gold down, but so is oil.
It’s important to highlight what gold is doing now, for several reasons. The first and most important — we are tracing the top end of a 6 year resistance barrier.
The other is the demand coming out of foreign Central Banks for gold — record levels, dating back to 1967.
Governments added 651.5 tonnes (metric) of gold to their foreign exchange reserves in 2018, a 74 percent increase from the previous yea
This is a narrative I will be watching closely throughout 2019. In the meantime, stocks should break higher again this morning — but keep a close eye on oil. If oil starts downhill, the rally might wilt and wither away.If you enjoy the content at iBankCoin, please follow us on Twitter