Loading ...Goldie – makes sense, they are the largest producer
maddog – yeah, the large caps looked shaky to me, hopefully starting to get their footing now. I think they had every intention of creating a waterfall in the metals at the open, so the shares were set to sell. maybe things haven’t gone as planned?
Geopolitical plays a factor. Sanctions on Russia’s PMs. Some metal council came out with news about decreased production of Palladium vs demand but still that was a jump.
I’m not sure if the Fed is going to cut rates next meeting yet but many other factors going on.
1. “Money is made by sitting, not trading.”
— Jesse Lauriston Livermore
right out of the gate.
Maybe it’s round number sellers.
Their real problem is silver.
I see that now in palladium. We just haven’t seen those types of moves. That’s probably a good thing for now.
I remember when at 9 am EST everyday the scum would come in and punch pm’s in the mouth. They don’t seem to do that as much anymore.
If you think a place that won’t accept cash and require you to exchange cash for a card is not anti cash that’s your prerogative. Why would they do that? Yes that card doesn’t cost money but either does cash. Cash also has no expiration date and not subject to hacks or electronic theft. Only other possible reason is there in a high crime area fear of robberies.
Fwiw Banks can not be making the rules on currency we don’t need their permission. They break the rules everyday lending out money for as much interests they can get on margin.
not too many moves above 2 or 4 %….I show Palladium plus 6.5 % …so far today !!!!!!
They are not anti-cash machines. We have to maintain cash. Maya, you are absolutely right. Merchants are getting fed up with the bankers getting a huge percent per transaction. By requiring merchants to either to accept cash or have one of these conversion machines that does not charge customers a fee and does not collect personal data, we have hope that we can keep cash as an option. Think about what happens if the grid goes down e.g. what happened in North Carolina.
All true. I guess with Bitcoin at $125K there’s no reason for the general public to think about a measly $4K gold price.
I suppose the only time they’ll notice is when they go to buy jewelry.
The good thing about what’s happening is that it’s central bank buying. They won’t be looking to sell anytime soon, and there are still some central banks that need to accumulate.
I honestly don’t know what’s going to happen with crypto. I know we now have a US Bitcoin Reserve fund, but what happens when we try to use it to pay off treasury debt and the foreigners say no?
Crimex taking a little bite now.
and immediately regretted it. Although they were able to take gold down $10.
I doubt it will be their last attempt today.
We have seen no sign of media interest and the general public are nowhere to be seen…..let alone mania from either…the MSM are studious in their ignoreing, no doubt told to shut up and keep the general public ignorant and here’s a thought…have they been fed Crypto , as the new Gold…to keep them away, while the CB’s pile in to Gold the real stuff …..in an effort to offset debt….and just why aren’t rates panicking, especially in Europe …where we have nothing but cretins running the joint…..do they know something is up.
But back to signs…… all the classic mania signs were around in the end of the 70’80’s mkt….here none …so far.
P&F chart of silver 25 cents box and 5 box reversal
For as strong as we’ve been, the moves have been pretty measured. 1-2% max. It’s not like we’re seeing 2-5% up days. Have we had a $100 up day? No big volatility. It could continue this way for awhile. Silver is a bit more volatile, but still no 4-5% days.
I’m guessing when we start to see that type of action, we might be near the end.
Micron can’t form/keep a government ….nobody want’s to work with him…French rates should be surging higher…not falling like a stone….Looks like BoF is buying with both hands to stop rate flying up !!!!!
for the very good reason loads of people will always sell the big numbers……to take profits…..so for Gold to take out $ 4000 on it’s first attempt, when already way over extended ..tells us three things the buying is massive and there are very few longs looking to sell around here…..all dips will be bought.
To take out $ 4000, so easily….has to be one of the most stunning moves gold has ever made…..these are truly epic times….ones we will never see again.
Imagine what they’d do to fees over time if they could eliminate cash.
Looks like so far silver bulls took over signaled a go long candle tonight. 🙂↕️
My dad would be so stoked right now. Toooooooooot TOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOT!!!! !!!! !!!!
Don’t tell Vronsky!! LOL
I’m sure Wanka is smiling down on us.
Who needs sleep when we’re on a crazy bender! I’ve been dreaming of this day all my life. Wanka would be stoked!
Locally, merchants & restaurants on thin margins are encouraging cash. Prominent signs at checkout say that charge cards will have a +4% ‘convenience fee’ added to the tab. Looks like merchants are tired of the credit cards taking a 4% bite out of their income, and simply pass it on to the customer now.
Looks like the shorts pulled a fake out earlier today or yesterday to some starting high then selling in to it. Well looks like the opposite is happing now.
