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Loading ...Gold managed to close above $3300 and silver came back to almost flat closing down $.15 or whatever. It’s flat in the AH’s.
So why did the shares get bombed? Especially the silver shares, make sense of that for me someone, PLEASE!
You guys know that for a long time I’ve thought the shares were an indicator of future moves in the metals. Probably more true in the early 2000’s.
What the heck happened to the shares today?
https://www.zerohedge.com/news/2025-07-08/news-china-gold-platform-implodes-600-million-ponzi
“Once marketed through slick social media campaigns and aggressive affiliate networks, Yongkun attracted thousands of small investors across China by offering returns of 8–12% backed by purportedly bullion reserves. The firm’s sprawling network of regional “investment salons” and online seminars fueled the hype. But as withdrawals spiked last week, the company froze operations, triggering panic and reports of investor losses estimated near ¥4 billion (≈ $600 million).”
Might be why it took a hit today – minor panic for no reason. Always be on the look out for similar schemes.
“I really hope we don’t go down that route again.”
You got that right! I think we’d all feel well betrayed if that was the case.
PS “National Security” It almost sounds feasible! 🙂
But that’s 6% of 21m, whereas about 5m have been lost, so it’s about 8% of the float, and their purchases are far exceeding the new mine supply.
No other comment apart from:
Due to unfortunate circumstances I know a sexual predator and several of his victims. Whilst he had them under his sway so that nobody talked, as soon as the dam broke then others came forward. Admittedly there is at least one who will not speak, will not go to the police, but as far as I know most of his victims are known. There are no videos or photos in this case, but if they had existed I am certain that those victims would willingly permit such material being made public for two reasons:
a) it would help ensure his conviction; and
b) it would prove to all the people who think that they are lying that they are not.
He has a silver tongue and continued to persuade authorities to let him keep his teaching and youth activities positions even after the first accuser came forward.
If they have videos of child porn, why are people not being prosecuted? Are the POTUS and the AG saying that we can’t prosecute because juries would have to see child porn – even though victims’ faces can be fogged out? Is it now a defence in pornography cases to say that the POTUS and AG have set a precedent – “You must not show the video. The President says so.”
You were right, you would never find justice in this world.
re Epstein…..I read elsewhere that they should have blamed it on National security and said we still need to get clearance from other nations etc……
I agree huge own goal and now very difficult to change the story……and now they are sending more arms to Ukraine and slamming Putin…..I really hope we don’t go down that route again.
Let’s hope Trump is deriving some important results with the files? Important enough so that making himself into a liar is a good tradeoff.
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Was there someone else in those tapes besides children?
zerohedge
@zerohedge
Pam Bondi on the Epstein tapes: “They were child porn. They will never be released. They will never see the light of day”
I agree with you 100%. Very bad deal and it is so crystal clear that they are lying – all of them. Shame on Trump if he hammered some reporter and downplayed this as if it’s no big deal. It’s a huge deal for his voters and it sure as heck isn’t going away. The other thing is if they’re going to tell the lie, at least be prepared with a good reason. I understand Bondi was fumbling the question when Trump intervened. She should have been prepared with a good cover for the lie, at minimum. So should Patel and Bongino. If nothing else, they could have said the stuff was destroyed by the FBI in the last admin or said the SDNY destroyed the evidence and thrown them under the bus. My buddy thinks there’s more to this and it might be part of a bigger plan, because it’s so obvious they are lying, almost like they want you to know they’re lying.
If not, they’re pathetic, and no different than any other administration in the last 50 years.
That’s a pretty sad state of affairs my friend. Trump has lost much respect and support over this.
11 Arrested For Plotting ‘Ambush’ To ‘Kill ICE Corrections Officers’
https://www.dailywire.com/news/11-arrested-for-plotting-ambush-to-kill-ice-corrections-officers
the financial pundits mantra any second now, exclaiming……….
The sell off in the metals today is due to Japanese and European bondholders ( Long term yields are exploding higher) having to sell Gold, to meet margin requirements and to raise much needed cash………
All that definitely shows up on the charts, so could be. Certainly the way the shares are acting that would seem to be in the works.
HUI down 5% with the metals down 1%.
Nothing quite like the downside leverage of pm shares is there?
edit: FWIW, volume is heavy in GDX but not so much in the individual names. Whoever is dumping, has a big play in the ETF. This doesn’t appear to be just computers.
The other thing is that the dollar is not up as much as I’d think. Bizarre, but you’d like to see the bizarre days go in our favor occasionally.
Ipso mentioned this Epstein stuff yesterday and I’ve avoided chiming in.
If this is the position that Trump and crew are going to stick with, then they’ve perpetrated one of the biggest fraud campaigns on the country in history. I’m still shocked by this.
I think the article asks a pretty important question. What did Musk really find?
I’m betting he found incriminating evidence on high level officials throughout government and may have even found payments directly from the US government to Epstein.
Regardless, we voted for accountability and it appears there will be none. That just means that this administration is more of the same and an outright fraud.
The country will get the wrath it deserves.
That’s how the “game” works. Between the prevalence of CTA’s ( that overswings momentum to one side), and the algorithms that seek for trigger points ( and institutional “stop” limits), the wash-rinse-repeat cycle continues.
Nothing new here. But the story hasn’t changed one iota. Just the panic cycles of buy high and sell low remain the same amongst illiterate retail jamokes.
The dollar has turned higher (and could be on its way back to 100+) and there are a lot of dummies long Comex Gold and Silver that will be forced to sell.
Silver could test $34ish and gold $3,100ish (but should remain above the large round number at $3,000).
Have a nice day
Or does this seem way over done in the shares given the move down in the metals?
Either the metals are going down a lot more or the shares are going to come back.
Whatever the case, the shares continue to be ridiculous.
And of course, they flush them going into earnings season.
The Shocking Story of Jeffery Epstein’s Deep Connection to the CIA: Where The REAL Epstein Files Are
12 Key Questions That All Americans Should Ask About The Shameful Attempt To Cover Up The Truth About Jeffrey Epstein
Going all out right now….
Dog
Note how gilts have already broken higher…..
and just look what 30 yr JGB’s have done already…these are the sort of moves that cause billions in losses……