Just came across this:

https://www.youtube.com/watch?v=v46FWD0fezM

If I had enough buying power thats exactly what I would be doing ! If your going to control prices it takes reserves …Timing is everything ….a little push at the right time can make it happen..

Hammer , they way it’s been going probably lol but if your in put out your stop loss percentage and cross your fingers.

Goldie – LOL? Really? Do I understand that you think the charts are saying gold is going to $1500 and you’re LOL because I think the hammer is coming down??

Well, I certainly hope you’re are right. I have no problem being wrong here.

R640 – Maybe this time will be different…

Can’t blame you it got a reprieve and chart turned bullish. As rest of you thinking of buying past 1350 puts up on the edge of the seat watching for the hammer down. Bullish now up to 1500 but we’ll see.

Maybe these horrifying ones will have little effect, too…I’m back to square one: I ask myself whether gold is even a viable asset class anymore…

Next week should see follow through gains if there is any justice. I still think there’s a bigger delayed reaction to this week’s events. There’ still room RSI wise for another $50 rally in gold, and $1 in silver. The RSI has been above neutral now for 3 straight days- it’s a MIRACLE. The last time that happened we were celebrating Valentine’s Day. One thing for sure, the comatose trading has ebbed considerably. Our patient is recovering!

The Commitment of Traders Report

Silver

*The large specs increased their long positions by 2,990 contracts and reduced their shorts by 10,976 contracts.

*The commercials decreased their longs by 4,599 contracts and increased their shorts by 8,805 contracts.

*The small specs decreased their longs by 644 contracts and reduced their shorts by 82 contracts.

As of Tuesday the commercials (the JPM gang) went net short 12,289 contracts and are surely much more than that now.

Gold

*The large specs increased their long positions by 46,014 contracts and reduced their shorts by 23,413 contracts.

*The commercials reduced their longs by 58,773 contracts and increased their shorts by 3,849 contracts.

*The small specs reduced their longs by 5,564 contracts and increased their shorts by 1,241 contracts.

The commercials are net short 172,576 contracts. And there you have it, The Gold Cartel going all out to prevent the precious metals from rising… a ZERO surprise.

Buddah – the COT’s came out and they look horrifying. Course, they’re usually not to be trusted unless they indicate downside. In this case they indicate major downside This might be why the shares acted like shit today, and gold failed to break above whatever the resistance is at $1245 or so for the 100th time. So the scum is in full force, which is why the prognostication business sucks and guys like Rubino always come out at the absolute worst times – although I’m not sure Rubino isn’t a scum plant. He’s always wrong.

https://cftc.gov/dea/futures/deacmxlf.htm

Ororeef – why don’t you go first and load the boat at $1400?

You may have to wait a while though.

Going to have a weekend and hunker down for the hammer on Monday.

Odds favor an up-side breakout after $1375 or $1400.

https://finviz.com/futures_charts.ashx?t=GC&p=w1

so we can print it for all to see  …and get this ball rollin..

” I have a lot of dem marginal min(ers).”

LOL So do I!

Oh yeah.

Did I ever mention that Rubino is the kiss of death?

If we do start to see a “resilience rally” as you mention where gold goes up $3-4 a day, then I think we can bet the farm that this rally is going pretty much nowhere.

I’m not liking the action in the shares or metals in the last two days, especially with the USD getting hammered and the 10 yr. down to 2.08%

Beginning to look and feel like a lot more like the same old shit to me.

BTW does “Buddah” have an “H” at the end? Or is it “Budda” without the “H”. I want to make sure I address you correctly. I do know how to spell “Gartman” so make sure we don’t go there. 🙂

On a day like today, there is just one reason why it’s rolling over…and the back benchers can devise all the esoteric theories about rates and ratios and confidence they want to explain the retreat…

Authored by John Rubino via DollarCollapse.com,

Here we go again. After a couple of big trading sessions, gold – for the sixth time in five years – is approaching the $1,350-ish level that has, each previous time, stopped it cold.

It looks like fundamentals, including the Fed’s capitulation to choppy stock markets and trade-war related economic uncertainties, aretrumping gold’s usual seasonality (strong in spring, weak in summer) at the moment. And those issues aren’t abating: Recent headlines paint a picture of an increasingly scary world:

Beijing warns US farmers may lose China market for good

Millennial net wealth collapses, study finds

Global manufacturing shrinks amid Wall Street recession warning

Yield curve expert with perfect record sees recession risk growing

https://www.zerohedge.com/news/2019-06-07/gold-tests-resistanceagain-will-sixth-time-be-charm

at the same time the CEO buys 172,000 shares…..Were they fighting ? ICAHN gave up his seat on the board ! MAYBE FCX heads up with the Predator out of the way ..

Debt has fallen from 20.2 billion to 7.1 bil cash is 2.8 billion..analyist sees 60 % upside.

cash per share 2.03

Maybe we see the fabled 36 thousand Dow.

Let’s hope so. I have a lot of dem marginal min(ers).

Seems to me the bigger stated fear would be deflation probably housing although we know better that everything else will rise.

Do higher gold prices support the desirable (by some) higher inflation narrative … in a time where deflation is feared.

It’ll be the marginal mines that start to appreciate the fastest. Where once was nothing of value now there is something.

Obvious not there now – yet.

SM screaming on rate cut hopes, whatever man….

Kootenay Regains 100% of Promontorio and La Negra

https://ceo.ca/@newswire/kootenay-regains-100-of-promontorio-and-la-negra

Maybe we will be allowed for more fun, in a crack up boom of all prices ????