Maddog @ 8:23
Agree on your chart observations … they would love it if they could trick the specs into dumping everything … but fortunately it’s limited to the more volatile shares … so could be a flat for the metals (with open interest levels so low) … especially if interested parties keep taking delivery of physical … another 3,000+Comex gold contracts for immediate delivery overnight …
Gold Futures Volume & Open Interest – CME Group
And silver still has 1,100 plus contracts to deliver this month (5,5 million ounces) to add to the 33.5 million ounces already delivered … and it’s still early in the month … with global tensions rising by the day. (why are they not delivered? – is somebody out of ammo? – does somebody need a silver bullion bailout?)
Silver Futures Volume & Open Interest – CME Group
While this is not the record-breaking delivery month (yet) many were expecting for silver … still … it’s way up there from a historical perspective … and would take quite a chunk out of remaining stocks (50%?) … pointing to near term default risks rising.
They can’t allow their precious tech stock bubble to implode … so the price managers are on it all day … every day … which can support the broader equity complex (and PMs) if they can keep it up. (the possible flat)
That’s the question … can they keep it up until more liquidity arrives (crack-up boom?) … or do they let it go.
I wonder if Trump (and company) can keep it up. (he’s pretty old)
Chuckle
Buygold
No I don’t think we’re at a rally point. A stuck on trying to recover that crooked takedown with private buyers trying to fill in with strong resistance but it probably needs a pause for the big buyers adjusting to higher prices and possible liquidation from places of war. Perhaps money could also be moving to the dollar in these countries getting out of their currencies. I fear too if increasing threats of inflation could cause interest rates to go up not down. Despite gas prices my daughter found 18 eggs for sale at a Walmart for 2 dollars.
Watched the open…..some very aggressive selling in PM shares…just hit any bid, the lower the better….
obviously more interested in knocking prices than getting a decent price…..
Does anyone else
….find it interesting that the “blowup” in the Private Credit bank run is happening at the same time as the step up in attacks/war in Iran…..
Buygold
Here is my Wave count in Silver, to say we are in a C down…..Both A and B have clear 3 wave counts marked as a-b-c…taking us into the C down….which should consist of 5 waves a-b-c-d-e…..so far it looks like a done and in b up…..and here is where E wave gets tricky,,,,is this C down going to be a sideways chop….or will it be a nice C down into the Hi/ lo 60’s or worse….so far action points to sideways chop, as normally a C wave is strong and therefore we should be well weak here…but we are not…..
But the most important info is that the Initial A down was clearly only 3 waves, which means whatever follows, this drop is only a corrective wave, there is more to come on the upside.
Thanks Goldie – more bouncing around
Doesn’t sound like we’re at a rally point just yet, I guess if we can continue to hold $80 and $5K we’re probably in good shape.
Dollar won’t die, and neither will rates, both keep moving up. Rates were up 5 bips yesterday, and continuing this am.
You’re surely right, hard to get a beat with all the things going on in the world.
Buygold
Silver current bottom was in early Feb. It’s been moving up since but it a range the hammer or long tail down candle stopped dead on support of this range. Are we out of the woods, I don’t know cuz of everything going on plus it hasn’t broken through resistance.
Maddog
I did see the chart, it seems we’ve made higher lows but have yet to make higher highs, just wondering your thoughts about whether it happens now or we form some kind of flag. I have a hard time seeing the bullish case until oil calms or the dollar cracks and heads south with rates.
Maddog, it’s not the extemists, it’s Bibi himself.
The extremists are the ones saying out loud what is actually happening on the ground.
It’s not just the muslims being eliminated (and, if they don’t move on then a conflict is initiated by the settlers invaders, who call in the IDF to ‘resolve’ it) but the christians too. In contravention of many UN resolutions and international law.
Buygold
Re Silver….Bottom….I have been out all day looking at cars…will check AG in the morning…I posted a chart ystdy that shows potential for the AG/share to Ag ratio…may he turned….but it needs to rally more first……
Israel has some real extreme Hasidic type Jews, who are in the government…Israel also has Proportional Representation to form a government, which means you may have to cohabit with such extreme people ….I think Netenyahu has that problem, hence this mad idea…..
What time is it boys and girls?
No … it’s not Howdy Doody Time … it’s 1:30 Central (in Chicago) … so it’s time to smash gold and silver prices down going into Comex close for our masters.
And we’ll be back tomorrow again (every day because they are nuts) … so stay spry boys and girls.
Chuckle
Ipso 11:31
Exactly, they need non stop law suits coming their way. They can’t walk the street without worrying about being harassed, robbed or attacked by these migrants. Theses migrants are preventing me from going shopping because they stand around the stores and harass people calling it their streets causing me anxiety.
Ipso-no doubt
It’s not healthy for me at all. I’m better off not knowing
Buygold
What you’ve got my friend is an “X overdose.” It’s not a Mary Poppins world and sometimes we need to detach to keep our sanity!
Cheers
Ipso – too funny
There’s never been a time in history quite like this. If there has, I’ve never read about it. We’ve certainly had times of death and destruction, but never pure nonsensical insanity like today.
I guess all we can do is smile and try to bring a little light into the world.
I’ve been on X for the last few days, gotta stop now, just not good for my headspace. 😉
aufever
LOL I can see that! 🙂 PS Clowns suck!
But ipso
People smiling in public causes me anxiety.
Faces need to remain neutral. Lol
goldielocks
They’ve got some lunacy going on in GB … arresting people for posting on social media while grooming gangs etc go wild!
Ipso 11:08
I’m wondering when the citizens are going to turn it around and put things in a way that they are causing anxiety to them for similar reasons. And then when they don’t do anything about it which they won’t, sue them for discrimination and if they can get class actions against them all the better. Seems like there’s a gold mine of discrimination going on. That the police themselves because of discrimination are causing a lot of not just anxiety but harm by empowering discrimination, lawlessness and violence against them.
I propose a new law
We make it illegal to frown in public. Only happy faces are allowed. If you offend then a fine is deducted from your CBDC account.
… and don’t forget the Breathe Tax! (Don’t scoff this is already proposed by the WEF demons)

