Loading ...…faster than Bill Clinton’s boxers in an Arkansas trailer park.
Only thing that matters
…on the short term is that there’s a Fed meet tomorrow ( not 100%sure), so the scum have programmed the algos to sit on the metals no matter what…….
Nice Hit
Emperor Metals Returns 15.0 Meters of 61.5 g/t Gold Including 2.4 Meters of 369.6 g/t Gold
https://finance.yahoo.com/markets/commodities/articles/emperor-metals-returns-15-0-120000409.html
Gold Short Squeeze?
The Kobeissi Letter
@KobeissiLetter
Is gold setting up for a short squeeze amid the Iran deal?
Gold funds posted -$2.3 billion in outflows last week, marking the 4th consecutive weekly outflow.
This brings the 4-week average of outflows to -$2.0 billion, the 2nd-largest on record.
This is only below the -$3.5 billion 4-week average record seen in February.
Meanwhile, the largest US gold-backed ETF,
$GLD
, has seen -$2.2 billion in outflows so far this month, on track for its 4th consecutive monthly withdrawal.
Year-to-date,
$GLD
has seen -$8.1 billion in outflows, on track for the first annual withdrawal since 2023.
Conditions are ripe for a short squeeze.
The Spectator Index
@spectatorindex
·
17h
BREAKING: Iranian state media says that five vessels have passed as US naval blockade is lifted
Say it again … Say it again …
Otavio (Tavi) Costa
@TaviCosta
Game on for gold miners.
From weak hands to strong hands.
This is what a bottoming process looks like.
Copper tops $6 a pound
Steve Hanke
@steve_hanke
Mr. Copper tops $6/lb, up ~55% in a year. Aluminum sits at a 4-year high.
AI data centers and the grid are devouring metal faster than mines produce it.
MORE EVIDENCE OF A COMMODITY PRICE SUPERCYCLE.
a slight problem
Sulaiman Ahmed
@ShaykhSulaiman
·
5h
JUST IN: IRANIAN FM ARAGHCHI:
“The end of the war will not be complete without the withdrawal of Israeli forces from the territories they occupied in Lebanon.
Any military attack by Israel on Lebanon and the continued occupation of Lebanese territories from now on, in our opinion, is a violation of the MoU.”
If Trump can make a deal with the Iranians
then he sure should be able to make a deal between the Russians and Ukrainians!
Ah yes, there it is
The 9 am punch in the mouth.
Oil down to $77
Amazing. It seems to believe peace might hold I guess.
SM flat. Dollar flat, rates down over 3 bips. Bitcoin flat – Saylor bought another $100M.
Silver has strengthened all morning and got above $71. Gold steadily moving up.
Looks like a decent open at this point, but we get a lot of decent opens, not so many decent closes. I suspect that unless the dollar really gets moving down with rates, and the SM starts moving up, we’ll be sold either at the open or all day long like yesterday.
DRB mentioned the miners as a threat to the fiat bankers. Makes sense. Their programs are set to sell daily to keep any momentum from gathering. Hard to believe some of us have dealt with this for 25 + years. Maybe it will be worth it for our kids. 🙂
This is what Eko movement is doing.
Blaming the citizens and Musk instead of the criminal migrant murders and inaction of the government fueling the violence where the citizens are the victims which they didn’t mention or closing borders. What their up to. They don’t give a option to reply for obvious reasons. Can’t help but be suspicious that the government is commiting a genocide using migrants instead making it easy for them so they aren’t accused of a crime themselves.
Rioters set homes alight in Belfast, forcing families to flee – just hours after Elon Musk shared a protest list with 240 million followers.
This is the second time in a matter of days that Musk has used X to fuel far-right violence in the UK. Every time, the government condemns it. Every time, nothing happens.
The UK has the power to ban X entirely. It’s time to use it.
Katie on Starmer
And good news for KFC bucket munchers lol
Ipso
Thanks, luck counts. It’s currently 199 and cents bid and ask after hours. Not looking to get rich on it just riding the mavericks just because.
goldielocks
Good luck!
Ipso
Meanwhile space x is making me money in just two days. I decided not to do the pre IPO open date cuz you can’t sell them right away. You can but then get denied any other pre IPO open. I decided I’d lock in some profits first while still holding shares. Now I have to figure out how to transfer some to a custodial account for youngest grand son. Never traded on that and didn’t want to trade just safe things like CDs Short term treasuries and maybe money market. But money market can lose money too depending on interest rates. So for now instead of doing two accounts at once just do one l and transfer it later. Maybe a divi PM stock but we know how the miners are but not their fault. When I asked about the safety of the money markets he said Oh they told us they’ll never go lower than a dollar. I had to laugh. I told him that’s reassuring lol He laughed too.
drb2
I don’t really think the mine owners are conspiring to keep their prices low. They benefit in many ways when they have a rising stock price. I could be wrong esp. with the big boys.
Can’t agree more with this statement:
“A legitimate PM mine paying out a livable dividend would/should be one of the best investments possible.”
Cheers
WTI
$79.xx print a few (brief) times this morning.
hmmmmm…….
@ Buygold; Ipso; Deer RE: your comments regarding PM miners
- “Expectations that the metals are going to decline?” … Check – the Scum’s ‘Mission is Accomplished’
- “Increasing dividends would help” … Absolutely!! That’s why miners don’t do it
- “What can mining companies do to market themselves better?” … They don’t want to.
- “Why is this happening?” … PM Retail Investors have no Champion to promote their cause (maybe Rob McEwen?; Eric Sprott?)
The Fiat Money Pushers recognize the threat that PMs pose to their power. IMO the Miners answer to them. Retail investors would do well to ask themselves: whose interests does this company serve—the bankers’ or the retail shareholders?
Mark Twain’s cautioned that “A Gold Mine is a Hole in the Ground with a Liar Standing at the Top”
Ignoring that for the moment, the truth is this – in a perfect world a proven Gold Mine is the absolute SAFEST “Vault” there can possibly be!
There is no way to steal the metal without expending enormous time & effort.
A legitimate PM mine paying out a livable dividend would/should be one of the best investments possible.
The usual drift lower
While everything else continues on its merry way.
We’re definitely not “there” yet.
deer79
That’s true there has been a low valuation problem with the miners. Is it because of expectations that the metals are going to decline? That expectation is slowly being quashed I would think. I’d like to hear what Tavi has to say about that as well.
Cheers
PS Maybe some healthy increasing dividends would help … The miners could certainly afford to pay more!
ipso
Ravi Costa ( and others) have been banging the drum pretty loudly now ( regarding miners having such high margins) for quite some time. And this has been persisting for quite some time.
What I’d like to see is Tavi Costa ( and some of the other mining seers) ask the question: “why is this happening?” “What can mining companies do to market themselves better?”
Crickets about that I guess…..
Already this morning, GDX and many of the miners are being capped and are creeping lower…..We’ve certainly been “conditioned” to believe that these patterns we’ve seen for so long are “Normal.” More propaganda at its finest!
It would be something
if we could avoid the usual drift lower all day after a morning pop. Usually, we’ve already taken a pretty good hit by now, not so much so far today yet, although the HUI is 12 points off the high.
The dollar isn’t as weak as I would’ve thought. Hoping that it weakens as the day goes by, but doesn’t look like it will, ticking up now.
Naturally, neither the DOW or Nasdaq has dipped at all. Just pm’s.