Should the US blockade be suspended before Iran's nuclear program is addressed?
Total Voters: 42
Loading ...3.98% this am. Dollar is flat. SM a little weaker.
Looks like the opposite of yesterday am. Gold down some, silver up a little. PM shares giving some back.
See what happens in a few hours, but the SM looks like it wants to go down. Hopefully our shares can buck the SM again.
with rumors of the demise of the Crimex and a pending March delivery default, it would be papered over into a nothing burger.
Shanghai has not let its foot off the gas though with their pm fix back above 100 to $101.09, up from $98.60 in the am fix.
The real comedy yesterday was the LBMA fix price down at $86.43. Where will they be forced to put the price in a few hours from now?
Regardless, you can bet it will be at least $10 or more lower than Shanghai. I don’t know how that gets reconciled if they can continue to “cash settle” their contracts.
CME RUG PULL SUCCEEDS: MARCH SILVER OI PLUNGES TO JUST 10,526 CONTRACTS
CME RUG PULL SUCCEEDS: MARCH SILVER OI PLUNGES TO JUST 10,526 CONTRACTS
Re: NFGC I guess that high AISC would make them highly leveraged. If the POG skyrockets they should do especially well … and if gold drops, you don’t want to look. 🙂 But of course they need to build a mine yet …
Probably why they’re a $2 stock and haven’t really participated. Course, I guess they’ll still do OK with $5200 gold, soon to be $10k😉
That gives me some comfort … LOL
Personally I don’t think this whole AI thing will end well.
https://finance.yahoo.com/news/found-gold-announces-preliminary-economic-220000297.html
AISC of $2,429 is getting up there!
Trouble is, all the AI programs are aware that it takes ten to twenty times as much radiation to fry their chips as it does to kill a human. So they have a 95% greater chance of surviving a holocaust than we do. Maybe their awareness is greater than I thought …..
A surprisingly good day, and with gold and silver down too! 🙂
For the space cases.
SLV has come almost all the way back too. Pretty impressive considering tech has been weak all day and the DOW flat.
New high for HUI.
All this unless they decide to come in here in this last hour and drop some paper bombs on the metals.
No they would have cash settled them with a huge premium (but what do I know – according to them they cancelled some orders … this would be suicide … got physical in hand?).
A small amount to them to keep the game going.
As I said … don’t expect miracles short term.
I would keep an eye on the Chinese spread and backwardation.
And then there is Iran.
Looks like Trump might do something stupid here.
China will take advantage of any weakness from an overcommitment.
The Pentagon will have a heck of a time replenishing ordinance given current supply chain constraints.
Might lose some assets (Taiwan) in the process.
This could cause a crisis of confidence … which in turn could hit the dollar … which in turn could cause a need for speed in currency debasement rates worldwide (in response to a dollar slide).
We will see.
Cheers
In Simulated War Games, Top AI Models Recommended Using Nukes 95% Of The Time
https://www.zerohedge.com/ai/simulated-war-games-top-ai-models-recommended-using-nukes-95-time
Thanks for the info. How do they just close out 31k contracts? They just cash them out without notifying the customer? Crazy.
Silver bullet – thank you, I am blessed beyond measure.🙏
Yes that’s right … for all metals.
Don’t know if that will be enough to cause a price spike with Da Boys hovering overhead … but things could get interesting as the month matures … the tab needs to be paid … the five decades plus tab … tick tick tick.
You can’t just print physical silver …
Chuckle … spit
Buygold,
The shenanigans took place yesterday on the Comex When they had a technical glitch and the gold silver natural gas markets went down for about 19 minutes… Yesterday they closed out 37,000 silver contracts with 31,000 of those contracts closed during the time the market was down… So you draw your own conclusions . When you ask AI if contracts are ever closed for cash at a premium, they say there’s no evidence of it… It reminds me of the saying, you wouldn’t know the truth if it was staring You in the face.. Be blessed brother..
Don’t look too bad to me so far. Actually starting to move higher.
Captain – isn’t tomorrow the first day of delivery notice on Crimex for silver?
I bet we’re going to see all sorts of shenanigans over the next few days.
Tucker Carlson
@TuckerCarlson
This is Israel’s last chance to blow up Iran with America’s military, so naturally the neocons have reached peak hysteria. Clayton Morris on what happens if they get their wish.
WarMonitor🇺🇦🇬🇧
@WarMonitor3
·
19h
BREAKING: All US ships at the headquarters of the Fifth Fleet in Bahrain have moved out to open sea-AP
Willem Middelkoop
@wmiddelkoop
·
17h
The COMEX/GLOBEX (CME) trading halt today was very suspicious 🚨
Why?
In the Comex February gold contract, the Open Interest currently stands at 4,000 contracts
This is highly unusual, as contracts open at the start of the month would normally have been delivered (or rolled over) long ago by now.
Therefore, one party still needs to deliver 12 tons of gold against this February contract—equivalent to roughly $2 billion in value at current prices.
AM Fix was $100.46, we’ll see if it moves off the $100 level for the pm fix.
Metals are pretty quiet around the world tonight.
edit: PM fix came in at $99.22 so they backed it off a little.
Shares are pretty quiet early. GLD is up a few bucks, SLV down $.75, not tracking with spot. I’m guessing SLV got hit for a buck or so in the AH’s. Dollar continues to be firm but flat.
Maybe just the calm before the Ides of March. There is a blood moon on March 3rd – they tend to hold significance for Israel historically.
Today we see either a test or a warning in Hui. I didn’t look at XAU yet, was busy. It seems a no brainer the PMs will be in demand but still can be depending on economics and demand and politics. Because it’s on going for years to come and depending on production it’s not going to just be a zero to sixty in two seconds.
Deer I agree, with more people with no exposure to PM stocks and what makes them move let alone juniors and explorers should be warned not to think they can just throw darts with picking stocks vs buying the phyzz. I still get a kick out of M Pinto’s honest experience with buying miners who said paraphrasing, about why he doesn’t go long on junior miner stocks. That if anything can age you before your time its holding the juniors. Some explorer’s don’t even plan on producing what they found but don’t announce it. They’re just waiting for someone to buy it or merge and even then with whom, what company.
