Morning deer79
Don’t apologize for posting what’s on your mind. Nobody here is going to deny what you’re saying about the algo’s is true, we’ve all been here long enough to know that this is the game we’re in, and no matter how many “positive” posts or vibes or charts get thrown out there, it doesn’t change the reality of how this particular market operates.
I don’t mind so much days like this when we reverse because the dollar is higher or rates are up, at least it makes sense. It’s the days that make no sense and the manipulation is obvious and up in our faces.
The reality at the moment is that there aren’t enough buyers to gain any momentum. Yesterday was nice but the volume was pathetic. It seems that players have been conditioned that higher interest rates are bad for pm’s because they are non-yielding investments. I guess that doesn’t hold true for Bitcoin though.
BTW – we’re not alone, plat and pall’s gains have been cut in half. I’m surprised silver is still above $66
Like having the media
on your side. The algorithmic machines are a very powerful weapon that will always have the scum’s back……Maxwell House for sure this morning…
I’m sorry if it seems that I post negative leaning comments. Like many of us, here, I’ve been following the miners for so many years now; I’ve been “conditioned” to think certain ways. Love the positive posts here….
Dollar strengthening, rates now up 3 bips, oil back above $100
DOW futures go red. QQQ’s still up though.
PM’s off their highs but still hanging in there. I don’t see how they hold the gains. Once the Crimex and SM open, the algo’s will start selling based on rates and the dollar. The shares are lackluster pre-market – they know what’s coming.
Plat and pall are up big. Pall is up $51 or 4%
Speaking of overnight data
The overnight data has silver above $67 and gold having touched $4400 earlier.
Some pretty good gains if we can hold them.
The only thing that I can see that is goosing everything – metals, SM, Bitcoin – is that oil is back under $100 slightly. Cause for celebration I guess.
The dollar is up slightly on Yen weakness, and rates are flat. Nothing there to support this move up.
So, these are some nice early gains if we can keep them, most of the shares on Globex are up 1 -2%, so it’s too early to tell.
If forced to bet, I’d guess most of this will be reversed. Hope not though.
Aurum
Ghosts lol It needs honest Digital forensics and cyber security.
goldielocks
Would be nice to see some follow through!
ipso 16:26
Then what will? When it stops being sold off the next day. Miners should be growth stocks not gambling stocks. It’s like hand to mouth, happy today tomorrow it sells off. They’ve been playing this short game all the way down.
Buygold
“raising rates to defend the dollar”
Some say we are raising rates to save the bond market. And the bond market enables the dollar system. If the bonds are no good then the money won’t be either.
deer79 @ 17:41
I’m sure that must be a factor. Wealth flees when it sees confiscation coming … and war.
Yeah Ipso
I’d think hard assets would make the most sense. It almost sounded like they were diversifying into other currencies. Course, the chart talks about “reserves” and those reserves will have to be converted into dollars to buy most anything. Regardless, if demand for the dollar is declining, then I’d think the price would too.
Have to wonder if in the not-too-distant future the Fed will be raising rates to defend the dollar rather than slow economic growth.
Ipso
I believe it has something to do with powerful, wealthy Europeans getting their money out of Europe with the drums of war beating louder and louder. Our economy is not in great shape, but it seems like we’re the lesser of all evils, so to speak. So, the money flows continue on to our shores, and certainly help to prop up our dollar.
Buygold
“I have a question; if the world is divesting from dollars, why is the dollar strong relative to all the other currencies?”
That’s a good question, doesn’t seem right does it. Money going into gold?
Ipso – decent close
Despite the fact that they sat on NEM and B all day to keep the HUI from exploding. Silver shares were awesome, I don’t think there’s one on my watchlist that was up less than 5%.
Metals did amazing as well considering the dollar finished basically flat, so they’ve bounced nicely off their 50 dma’s
Definitely need to see some follow-thru though, that will make us all happy. 🙂
It’s all about rates I guess, at least it was today anyway.
I have a question; if the world is divesting from dollars, why is the dollar strong relative to all the other currencies?
I think everyone must be happy with today’s action
If you’re not … what does it take? 🙂
Heading downhill
Barchart
@Barchart
·
16h
U.S. Dollar share of global foreign currency reserves have fallen to its lowest level this century 🤯📉👀💸
How many times
Have we seen the intraday chart set up for a waterfall??? Hope I’m wrong today….
WarMonitor🇺🇦🇬🇧
@WarMonitor3
·
2h
Pakistan’s defence minister says the Mecca pact (Pakistan–Saudi–Turkey) kicks in if Houthi attacks spill into Saudi Arabia.
More regional instability on the way..
Another Surprise
Check out this group of Oil n Gas storage tanker related stocks quietly sneaking up without any news.
The other surprise
is that we’re even up at all considering the dollar is flat.
Still no volume
Surprised by that. Would’ve thought we’d see a pickup, at least in the ETF’s.but it just yet. A little surprised too that they’re able to push prices up this month on below average volumes.
maddog
I still like your optimism and hope there’s enough bulls out there that feel the same that can pull them out of their downward path. But in the mean time when it looks like a duck, walks like a duck and talks like a duck it’s probably a duck.
I think most the miners will be doing fine as long as they don’t have energy restraints but it’s perhaps the larger buyers of their stock that pulled out and maybe mostly retail buying and larger companies are shorting