Been a better time to be a bullion holder as of late. I've been away for a while because there hasn't been too much happening, that is until Brexit happened. There's been a sweet move up in platinum. If any of you guys are holding some, you've noticed. It also looks like there was a little belly bumping in the gold futures already this morning. I don't draw any conclusion from it. It just always gets my interest up when there is a lightning bolt swing in the market price. Maybe it was a trade triggered by the jobs report.
Are you one of those SPAM guys who act like they are putting out interesting news, but actually are PHISHING for commodity clients?
It's a normal market. Brexit happened. Market moved up. Profit taking on a small move. All precious metals are volatile. This is normal for the news.
Plain and simple...Brexit blamed on metals move, stock market on a move, I sense a little inflation happening or maybe just a set up for market profit taking in the very near future.
Didn't your momma ever teach you not to taunt a guy with a loaded gun? Actually he's our canary in the coal mine (gold mine in our case). Welcome back SD...
To me it just looks like somebody had a standing "buy beaucoup ounces at $1335 on the way down" order booked. Maybe even accompanied by a "sell at $1355" order. Also note that the big drop happened at the very instant the New York NYMEX exchange opened.
Who says it's loaded And no, SD is not a phisher. In fact, pm's usually drop precipitously after he posts. Not today though Even with the overly expected jobs report we saw I big dip but buyers still stepped in with miners, paper and physical being gobbled up. The market is screaming one thing... Better buy in asap or be left in the gold dust
Yeah, no spamming here. If you haven't followed my posts, my only claim to fame is that I have the septic touch when it comes to metals. With one trade, I have the power to move the market. It just always happens to be in the opposite direction of what I've just done. A good example: A while back I was sharing how I was going to profit off a sideways market in gold by owning GDX and selling covered calls on it. I had a position built at $13 and was selling the calls at $17. I of course lost all my shares at a limited profit of $17. Had I not been so bold to bet my own money that GDX wouldn't go over $17, it would have never made it to the $30 it's at today. Anyone who has done the exact opposite of me to this point is going to be a very rich person. Now that I've made light of the fact that platinum is up substantially, It'll likely tumble to the low $900s within a couple weeks. #SepticTouch
New guy here and not a professional economist so go easy on me. QE, ZIRP, NIRP all unprecedented and so are all the unintended consequences, some of which we know (stock buybacks/corporate debt) but others?. Manufacturing jobs being diluted via off shoring and technology... Where's Demand going if this trend continues and ergo profits? Promises, promises, promises... Everybody is owed something from S.S. to welfare, disability, pensions, etc... Not sure even metals can save one's butt from the storms headed our way but maybe after? I won't pretend to know the when but I think the what is a certainty. Debase is all they've got or something worse like war.
Hard to say what'll happen. It'll be interesting when money starts coming back out of the bond market. It's gotta go somewhere, and it's likely going to blow something up.
Welcome back! You sure brought the trolls out of the closet. Remember? The ones who claimed there was no metals manipulation?