Loading ...…still holding, maybe that’s the new base. we can hope.
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A few items from Murph tonight–this jobs revision# is a very big deal but will have no effect cause it won’t be mentioned on Tee Vee
Aug 21, 2019 10:42 a.m. ET
WASHINGTON (MarketWatch) — The U.S. economy had 501,000 fewer jobs in March 2019 than previously reported, government revisions show, suggesting that hiring was not as strong in the past year as it seemed. Hiring was weaker in retail, restaurants and hotels. The annual revision is much larger than is typically the case. The preliminary revision in 2018, for example, was just 43,000. Every year the Bureau of Labor Statistics updates its figures based on unemployment data that nearly all employers are required to file with the states. The current revision is one of the largest ever.
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Gold has made quite the advance over the past three months. Basically that advance has been made without any help from a weakening dollar or a lasting Fear Trade, which kicks in every now and then. This makes the move in gold that much more impressive. Should both of those factors go into high gear, the momentum shift into gold and silver by even more new buyers ought to be awesome. As is, continuing lower interest rates and the need for further monetary stimulus around the world is propelling the gold price.
It is so preposterous that gold depends on a few words from the FED–so if they don’t raise in september
all u.s. and world debt and deficit problems are magically solved?? If the 10 yr t-note. yield rises from 1.5% to 1.75% or 2%…people should panic out of gold and into stocks, bonds or other paper…? The municipal-state-and federal debt. and deficit spending will still be a problem…
It’s 5:515 and e-trading in gold is closed for 45 minutes until the night session…with yields up a wee bit and ditto the dollar at days. end…gold is only dowm 3.10…not bad at all…considering that the FED statement. was hawkish…next if Friday and Jackson Hole…Powell. may not. be. super dovish on friday buy I doubt. he’d. be as. hawkish as. today. sounded
Hopefully the Cartel won’t be able to bring gold in by morning down 15 or. 20…
Well course now that I’ve opened my yap
things have deteriorated. Some things never change.
Rates and USD moving up, SM moving up as usual, pm’s also moving down as usual.
Bummer, thought we were seeing something different today.
Not too bad for post Fed B.S.
We’ve seen worse, but hey I’m used to extreme meltdowns.
Fed aka the scum speaks
Dollar catches bid, Bonds ease and PM’s lent on …shock horror no SM bid ?????
This is VIP article=Trader: Getting Rich Off The Greater Fools Has Worked Wonderfully…Until Today
[and indicates the FED may have to do 50bps “shock and awe” to save stocks–(good for gold) in September]
The German government auctioned 30-year bonds with a coupon of 0% at a yield of negative 11 basis points. And it didn’t go well. Of the 2 billion euros worth on offer, the Bundesbank was forced to retain 58% of it. Calling it a “technically” failed auction doesn’t make it any less actually the case.
And for those who think the ECB, or any other central bank, can keep plumbing the depths of negative interest rates to wring out ever-diminishing benefits, it should be cause to pause and consider
If you want an object lesson in long-term investing, as opposed to flipping, in this not-so-brave new world, take a look at the comments on Tuesday from the chief investment officer of Japan’s Government Pension Investment Fund. And when you do, keep in mind the words “largest pension fund in the world.” Over the last three months it has lost money in fixed-income, equities and foreign exchange. Half of the fund is in domestic assets, including negative yielding JGBs. And the returns on their overseas investments suffered from the safe-haven status of the yen.
It’s tempting to indulge in a little schadenfreude with these sorts of results. After all, it shouldn’t be easy to lose in every asset class. But if this is a peek at where the world’s investing landscape is heading, there’s little room for amusement.
You can understand why there is the belief among academics that, with rates as low as they are, and central banks having less and less leeway, a shock and awe approach to rate decisions may be the most effective policy strategy.
But that also smacks of the desperation of a Hail Mary pass. And they never happen when things are going well. Still, it does help explain some of the really aggressive fixed-income options trades that have been executed, just this week, around the upcoming events.
Mr. Copper–the 9:26 pension post was brother Ipso…But I love. this India & gold insight
[But the report is delightful for its presumption that gold is for the great unwashed while modern financial assets are for more sophisticated people, people gaining “financial literacy.}
FT imagines ‘financial literacy’ is defeating gold in India
by cpowell on 03:08PM ET Wednesday, August 21, 2019. Section: Daily Dispatches
11:11a ET Wednesday, August 21, 2019
Dear Friend of GATA and Gold:
Predictably enough the Financial Times report today that is appended here underplays the Indian government’s unending war against gold, while acknowledging that the government’s paperization campaign has failed so far.
But the report is delightful for its presumption that gold is for the great unwashed while modern financial assets are for more sophisticated people, people gaining “financial literacy.” You know — people who don’t mind that valuations can be changed abruptly by government policy rather than market fundamentals, people who aren’t worried about central bank destruction of interest rates, people who are sure that they couldn’t possibly be scammed by financial houses, and people who can be persuaded that assets can be hypothecated to infinity without anyone ever realizing that they are oversubscribed.
That is, people who believe everything they read the Financial Times.
Maddog @ 11:33
“The forced buying” That’s gotta be one of the only things holding them up. It’s absolutely insane.
Instead of “their” money being a store of value it’s a value sink.
SILVER…
trying to go green for the day,
dollar index trying to go red
I think Trump
should offer to buy HongKong ! wouldent that be a HOOT ! and make it a self Governing entity ! No threat to China ! He could also guarantee China’s right to be self Governing for the next 40years ,that way theres NO political threat to China Politics .
Ipso, treefrog
Ipso – no, I don’t hold Gatling, my most recent buy has been Fortuna – FSM
treefrog – seems that way, hope you’re right. I guess we have Fed minutes in a little while, we’ll see how that goes.
ipsofacto
Re German bond rates
Remember that the EU has been very deceitful, by insisting that Pension Funds have to hold a large percentage of their assets in so called Highly Liquid Assets…ie top quality bonds…so no matter what the rate, they have to buy.
@Richard re 9:26 How do pension funds that need a return make any money? It’s a bad joke IMO
Food for thought. If the system goes into a deflation, the money gains value or purchasing power. So if you take a 10% hit on the bonds, and costs go down by 20%, you STILL have a 10% gain on a 10% mathematical loss. Eh? 🙂
In fact, what if you had $100,000 in the bank, and along came a fast 10% deflation in costs. TPTB would not want that, and confiscate 10% of your $100k bank account. TPTB’s biggest nightmare would be your money GAINING value. It goes totally against their agenda since 1913.
Buygold are you still holding this one?
Gatling Drills High-Grade, Near Surface Gold at Cheminis Deposit Including 12.3 g/t Au over 5.0 meters
fifteen/seventeen…
…starting to look like support – for now at least.
Oops I can’t understand why no one wants it
Germany Sells World’s First 30-Year Negative Yielding Bond… And It’s A Failure
We. gotta. remember that for at least the. 1st. half of the gold. rally stocks and gold rose together
Wollie said. they would…he also said yesterday gold and rates would rise together…maybe…maybe not…
Just for the record, although Wollie. has. been correctly bullish since the 1980s….he walked in front of 2 speeding Mack trucks in the form of the 2000 and 2008 crashes–I remember him. calling for “lunatic” DOW numbers right into the. the start of the crashes….he’s doing the same thing now…
Speaking of crashes, last year there was much talk of a crash bout this time of the yr but now I never hear a crash mentioned anywhere…and I certainly can’t see one coming,,,not with zero rates, a Trump administration going all out just to prevent even a measly little recession…Trump will do everything he can to keep the Casino open and viable…
So if you [not me] want to be a big, bad contrarian, then start calling for a crash..
How do pension funds and other entities which need a return make any money off of this? It’s a bad joke IMO
Germany Is About To Sells Its First Ever Zero-Coupon Ultra-Long Bond
Investors Intelligence just. out=II Bullz 49.1 Bearz 17.9–contrary analysis says this is slightly bearish
All during the 1990s I.I. showed high bullish. readings among advisors…contrary theory failed cause stocks just kept going up.
Buygold
Hopefully this is the correction…if so v strong overall.