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Looking at the days’ charts of all the PM stocks and ETFs, one has to conclude that the coma was successfully induced around 11:30 am…I think what did it was the 8:30 am ADP report showing 27K jobs for the month of May…forces were mobilized…the $ sank on that news but has been algoed back to a gain of .231…this pullback went way beyond the usual intra-day shakeout to gather merchandise wholesale before the next mark up…the whole enchilada could be over and gold sent to new lows…I don’t think so but given golds track record, such a possibility can’t be ruled out. Again, it’s hard to see gold as a liquidating asset given all the macro situation.
My bank in Denmark just offered me a NEGATIVE rate of interest to borrow money
Yesterday I called my bank in Denmark, Nordea, and couldn’t believe what they told me…
They offered to lend me money at MINUS 0.12% for a ten-year mortgage.
In other words, the bank would PAY ME to take out a loan.
Of course, as a Sovereign Man editor, I’ve written a lot about negative interest rates. But most of these cases were always reserved for big banks or institutions.
I think the banksters picked up a bunch more gold at firesale prices. Maduro should have just sold it outright.
A shame what’s happening to the people in Venezuela … but I’m opposed to using military force to topple him. The regime will fall apart just fine on it’s own.
I see what looks like Building supply’s going out but apparently not here except building houses condos or apts. lobbyists pushing to get permits for up the hill in what as mostly horse and cow property to build. They built expensive track homes all over and working in more. I bet they have their eyes in ranchers land and hope they don’t sell.
Once they build more up there housing might get cheaper here for awhile as people sell and move up the hill. There is no known homeless up there but probably coming once they start building. Traffic which there hardly is now and not enough stores in close approximation. There seems no be no consideration for the burden to cities with those greedy Fs.
I looked up UP right after I posted and it’s been going straight up since 2016.
…and a very, very, steep one it has been..that said, I think it’s time for the bounce back…and JNUG could be a buy right here, right now in the 8.40 area…from the days high to the days low it had about a 13% pullback…about a buck…JMO-DYOD
IN ZH they said all the algos–to the tune of $20 billion– flipped to 97% long from 100% short yesterday, on the big rally–if stocks roll over now or tomorrow, things could get dire in a hurry and gold should resume its rise
Monday’s Nasdaq CTA “-100% Short” was “stopped-out” after clearing 7133 and triggered a “flip”, with an estimated ~$20B of Futures buying— and the Nasdaq model signal now too stands at “+97% Long.”
He can fool with the Politicians ,but not the BANKSTERS !
same happened in AFRICA when Mandela came to power and seized gold mines …He found out that the miners borrowed Gold from the Banks ,sold it ,removed the money from S,Africa ,then left the MINES with a Mortgage on them that had to paid in GOLD back to the BANKS…Thats how you deal with Communists ..use the Banksters to do it..Maduro never learned that lesson !
That said…we know the drill…and the Cartel could put the horse back in the barn and induce a coma state…It doesn’t look good but I ain’t dumping my calls just yet…
Ecuador’s new mining policy backs large-scale projects
The Vice President of Ecuador, Otto Sonnenholzner, and the Minister of Energy and Non-renewable Natural Resources, Carlos Pérez, presented the country’s new Public Mining Policy, whose focus will be on supporting large-scale operations and investments, and eradicating illegal mining.
The announcement was made during a visit to the southern Zamora Chinchipe province, where Lundin Gold’s (TSX:LUG) flagship Fruta del Norte gold project is located. Both Sonnenholzner and Pérez stopped by the mine site and met with representatives of the Canadian company, who said 50% of the construction phase is completed.
been shaken out a few times by them…only to see G&S come right back by days end…i highly doubt that we are gonna end the day down $15-$20…but anything is possible…2 things should support PMs–the FED signaling as many as 3 easings this year and the stinking jobs report on Friday…not to mention the other lonnnnnng list of macro reasons to own gold…hard to imagine gold as a liquidating asset now.
Maybe all the talk we’ve been hearing about silver being the most undervalued commodity…and the place to be…maybe that has reached the ears of the big hedgie guys…cause an awful lot of volume has been flooding in…that said I advise all players:
But I think it best not to over analyze this action too much–if one has positions one should give this move every benefit of the doubt until proven differently…and all of us have been traumatised by the action of the past 8 years…the danger is to get shaken out prematurely…of course gold could suddnely lapse into a coma…but that’s just part of the risk that every trader has to deal with…
AG just hit $ 15 and so far it is no mass…..and NEM ain’t crazy bid…plus the SM has exploded up 3.5 % in 3 days…that I think has to stop to keep PM’s bid.
June 5, 2019, 8:28 AM EDT Updated on June 5, 2019, 8:41 AM EDT
Companies in May added the fewest U.S. workers in any month since 2010, suggesting a potential pullback in the labor market amid weakness in some parts of the economy.
Private payrolls increased by 27,000 after a downwardly revised 271,000 gain in April, according to data released Wednesday by the ADP Research Institute. That compares with the median estimate of 185,000 in a Bloomberg survey of economists.
Europe has only small gains–ditto Asia overnite-except Japan–they are also buying t-notes=2s-5s and 10s…not a lot but buying none-the-less…not confirming the U.S. action…
A word of caution to myself: before you get all “bulled up” about gold just remember that the PM market can suddenly go–with no warning or transition–and on no news–into coma mode…that said, again, I will give this move every benefit of the doubt until proven differently.
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