Loading ...lol Can’t lose right now with dollar hedge. Esp if Gold can break through 1350.
Deer–yeah, what is fundamentally different from 9 hrs ago at 4.am?
The alibi today is maybe the FED WON’T cut rates…but they may have to…so we won’t call gold totally out of the picture=
It’s shaping up to be Albert Edwards‘ year, if not decade and century.
Three years after the stock of global debt with negative yields hit an all time high just above $12 trillion, the NIRP trap is back, and the amount of sovereign debt sporting a negative yield is just shy of all time highs, hitting $11.7 trillion today according to Bloomberg, nearly double where where it was just last September.
Of course, that this is taking place with the S&P500 just a few percent off all time highs is the reason why traders are having nightmares – this does not happen when everything is hunky dory in the economy, and in fact it is an indication that risk assets are overinflated only for one reason: expectations that the Fed will step in and “rescue” risk assets.
today we learned that Morgan Stanley’s Business Conditions Index has fallen dramatically. In fact, according to CNBC the sudden drop in the index was “the largest one-month decline on record”…
A reading of the economy from Morgan Stanley is signaling “June gloom.”Morgan Stanley’s Business Conditions Index, which captures turning points in the economy, fell by 32 points in June, to a level of 13 from a level of 45 in May. This drop is the largest one-month decline on record and the lowest level since December 2008 during the financial crisis, according to the firm.Not even during the last recession did we witness a monthly decline of that magnitude.The speed at which the global economy is now deteriorating is breathtaking, and the crisis that so many thought had passed us by could actually be right on the doorstep.
It just never ends
It still seems the crooks can snap their fingers and take the price of the metals wherever they want.
Whoa! Just saw gold up 7.20–turned my head, literally 30 seconds, and it was up 2.10
Gold is safely under 1350 now–the emergency is over…
Mr Copper–thanks for pointing that out-I hadn’t noticed-yesterday the $ was barely up but today it’s up .531
so for gold to have any gain is unusual…but how long can gold buck a strong dollar and a deluge of comex selling? Silver has had a 25 cent reversal…Wow! They sure “prettied it up” from 9 hrs ago…what has really changed in the case for gold…nothing!
G&S may be in trouble…
Gold-Stock Upleg Mounting
The gold miners’ stocks have surged powerfully over the past few weeks, challenging upleg highs. Traders started returning to this small contrarian sector as gold blasted back above the psychologically-crucial $1300 line. While such early-summer strength is atypical, gold miners’ technicals, sentiment, and fundamentals all support more gains to come. Gold stocks need to mean revert to much-higher price levels.
FYI: US Dollar and Gold Going Up Together, Past Three Days,
Figure that one out. Either one of the two is lying, or both are good to hold with what’s been going on, trying to happen naturally, that TPTB are trying to avoid. A deflationary collapse. In a DEFLATION, money gains value. Gold and Dollars are money.
Stocks bonds and real estate, have gradually been used as a replacement of real “money” as Gold and Silver was weaned out as money after and since the 1913 Federal Reserve Act. So if the past 1913 to 2008 era is in reverse, things can get very interesting.
If stocks bonds and real estate (money replacement) start dropping in value, it would be like the 1929 crash when millions of people lost money that was not FDIC insured.
US Dollar, 3 days up with Gold:
https://finviz.com/futures_charts.ashx?t=CURRENCIES&p=d1
Gold:
Portugeezer
Is that a recent photo? If it is congratulations.
Poll Results … not much irrational exuberance here
What will the price of gold be by the end of June?
$1340-$1350 (22%, 10 Votes)
over $1360 (22%, 10 Votes)
Under $1280 (11%, 5 Votes)
$1280-$1290 (9%, 4 Votes)
$1300-$1310 (7%, 3 Votes)
$1320-$1330 (7%, 3 Votes)
$1330-$1340 (7%, 3 Votes)
$1350-$1360 (7%, 3 Votes)
$1290-$1300 (4%, 2 Votes)
$1310-$1320 (4%, 2 Votes)
Total Voters: 45
Not so fast!! I, too, was thinking a contract dump might hit between 8:30 and 9:30
But that’s just too bad…if gold can recover and end the day near the highs or beyond, then we will really know if the buyer interest is strong enough to overpower the fixers…if it isn’t then we’ll know that gold isn’t ready…
IPSO FACTO is right and this is a great sign…the crimex crimminals may have sold the futures but the buyers of PM paper aren’t selling…prices are at or near the highs of the day…
ALSO stocks are finally starting to roll over…if they fall hard, then gold will still be in play for today…finally, after being up a lot even on days the DOW was down, the trannies are down 93
Maddog @ 8:44
Oh the humanity!
Buygold ….Good call
scum are busy making todays numbers SM bullish and PM bearish…not easy as the dialogue has to be turned 180 degrees….
Day is over folks
as I said yesterday, today would start great and end in tears.
Not really hard to predict after 17 years of pm watching.
Have a great weekend everyone. Weather is nice, I’m out, at least until the close and the fraudulent COT’s come knocking.
Party Foul: The London Metals Exchange Has Banned Drinking During The Workday
Pathetic…the LME was renowned for drinking any and all other City traders under the table….There was one company that used to hand out 4 tins of beer to all the staff, after a good day…..the Chairman always had a beer at 11 o-clock in his office, before heading off for lunch and not being back before 3 pm…..most days.
Eco data
Retail sales came out – a little better than expected ex-autos, previous months had upward revisions
That was good enough to hit gold for a couple of bucks and goose the USD a few ticks
Thou shalt not chase gold up days.
Edit: Gold selling is intensifying now….and here they come….big effing surprise.
These guys warned for years before they were right in 2008–now, 11 years later, maybe they’ll finally be right again
Schiff says:
“The Fed’s balance sheet ticked up last week to $3.85 trillion. Perhaps it has already seen its lows. When the Fed goes back to quantitative easing, the balance sheet will balloon to $10 trillion even quicker than it did to $4.5 trillion. But next time the Fed’s exit-strategy bluff won’t work. Got gold?”
Turk says
gold’s price likely will be capped next week because there is a meeting of the Federal Reserve’s Open Market Committee. But he adds, “There is a lot of money on the sidelines waiting to buy dips” and “the momentum guys are not even in there buying yet.”…
Portugeezer!!!!
Missed your post, thought it was part of an Ororeef post until I saw Alex’s note and then scrolled to see the pictures!!
Handsome couple! Congrats to you and your beautiful bride!!!
Portugeezer
Congratulations! 🙂
Good to see for a change–har! har!
Direxion Daily Gold Miners Index Bear 3X Shares (DUST:NYSE Arca)
Real Time Quote | Last NASDAQ LS, VOL From CTA | USD
|
| 8:21:07 AM EDT
|
Volume | |
|
14.6099
-0.94 (-6.05%)
|
Great News , Portugeezer !
Congratulations , and God bless you and your bride !
Well we’re definitely gapping
even higher than I thought.
Let’s just hope that when the Crimex shows up for work we don’t have to give it all back.
Maddog had some rules about gaps.
Short term triple top on HUI is around 178, that’s where we’ve been stopped before.
Winedoc
Cool coin.