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The HUI is only up 3 or 4 points today. If physical gold is already $1800 with little offer why isn’t it up 50 points? ORDERLY

Posted by Richard640 @ 19:06 on March 26, 2020  

James Mc checked back in with some goodies…

Too damn orderly to be believable

Bill,

Looking at all the various pieces of information in and around the gold/silver markets it all comes down to this: gold and silver are acting WAY too orderly to be believable. We’ve just had the single largest dislocation event EVER. The Dow goes down 2,000, then up 2,000. Other markets are gyrating WILDLY. Price discovery, speculation, and the daisy chain of derivatives guarantee the markets are in extreme turbulence for an extended period of time. It’s outrageous that the 2 single financial products – gold and silver- the ones that SHOULD be gyrating wildly in an attempt to find price discovery, are essentially comatose. Yes, I know gold popped $200 in 2 days, and silver gained a couple bucks, but SO WHAT? They were demolished in the futures market prior to those gains, and still aren’t back to their (phony-baloney spot) highs back on Feb. 24. They’ve deployed about a gazillion trillion dollars of QE/stimulus since Feb. 24. Looking at most of the daily gold and silver pricing/data you would never know it. 

The open interest for both gold and silver are indeed falling, but in an oh-so-orderly way. With yesterday’s 4,872 decline in gold OI it has only declined by 10,716 since last Friday. ORDERLY. Silver OI declined by 4,464, for a total of 13,646 since last Friday. That’s a little more concerted effort to close out shorts than gold but still, historically nothing out of the ordinary. The stunning announcements regarding Crimex physical deliveries – which WAS a defacto force majeure- has been met with eerie dead calm in at least the derivative pricing. Gold was comatose yesterday, up 1% today. Silver off 12 cents today. ORDERLY.

The HUI is only up 3 or 4 points today. If physical gold is already $1800 with little offer why isn’t it up 50 points? ORDERLY. The EFP’s keep getting done in methodical fashion. There were another 9,972 yesterday, consistent with the past umpteen trading days. Who in the hell can just saunter in to the Crimex daily and order up 8-10,000 of EFP’s as if they’re at the drive-up window at McDonalds? ORDERLY.

On the surface it is all WAY too orderly. Behind the scenes however the gold market (and likely soon to be silver market) is chaos, pandemonium, and DISORDER. Don’t believe this “orderly” MOPE for a minute.

James Mc

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Post by the Golden Rule. Oasis not responsible for content/accuracy of posts. DYODD.