W/C 17th February - JD Vance tells it like it is. Upsets EU. Gold and Silver to continue sideways before liftoff?

UK Energy Policy fails again & could result in increased taxes

Please note that this is also being written before the ‘Emergency Summit about Ukraine’ that takes place Sunday 16th February 2025. What is discussed here could have an impact on the markets.

As usual, my apologies if any data and/or information has changed as a result of Asian/early morning European trading/as a result of this emergency summit.

If you are yet to watch the speech that JD Vance gave at the summit in Munich then I would highly recommend that you do (link below).

Vice President JD Vance Delivers Remarks at the Munich Security Conference

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UK/Energy/Taxes

Energy Independence and Energy Security are of vital importance. This applies to us on an individual level as well as on a more macroeconomic level. Unfortunately my home country seems to be hell bent on destroying itself from within.

Ed Miliband vows to ban fracking forever after huge UK gas field discovered

If you asked the citizens of the UK whether they want cheaper energy prices or commit to this ‘green revolution’ then one imagines that the masses would go for the former and NOT the latter.

It is no wonder that the UK has the highest energy prices out of any ‘developed’ country in the world (and quite possibly the highest in the whole world).

Cheaper energy will be better for the economy and definitely better for the citizens. It still seems as though that a lot of people are not yet connecting the dots together when it comes to bad energy policy, poor economic growth and then higher taxes!

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Gold

Below is the 1-minute chart from Friday 14th February 2025 and also the daily chart.

We can see from the 1-minute chart that the sell off began at about 07:30 Mexico City time (08:30 ET) and didn’t get any better.

That is highly likely the cartel doing their usual smash. It could also have been untrained investors selling their physical gold for profits as well. $3,000 is a key psychological number.

The Daily chart is impressive and does look like it could be due a pull back. We will see what happens in the week ahead. It would not surprise me to see either a small pull back or some sideways trading this week just while weak hands get flushed out of the market.

All the fundamentals are there. $3,000 should NOT be a problem in my opinion. This could happen by the start of March (think Canada and Mexico tariffs actually being implemented).

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Meanwhile in the land of the major indices and silver….