Loading ...I think I’d rather be blind deaf and dumb today! 
Buygold
Buygold
I thought that we’d seen massacres in the past … but they were nothing!
Ipso, what is it that they say?
No news is good news? 🙂
Dollar getting smacked
Always interesting to me that when there is some sort of turmoil that the dollar seems to go down against the Swiss Franc. The Yen up near 3%.
Crimex now open, panic selling ensues, will anyone step in front of the freight train? Too bad the banks don’t have to cover their positions, they carry enough of them.
Just once I’d like to see the mother of all comebacks.
QQQ’s down over 5.8% Course the only index doing worse than that is the HUI. Set to open down 7% Comedy.
2001-2002 redux? They’ll call this the Buffett crash of 2024
I wonder what’s breaking under the surface?
ferrett @ 1:06
Welcome to goldtentoasis. I remember you from long ago.
Due to technical problems at CEO.CA there will be no news
To the people at CEO.CA. If the Captcha Hell you have created does not work properly then few people will be signing up!
Oil under $72, Bitcoin down near 10%
Bitcoin is down the least of the crypto’s, ether and litecoin are down 15%. Hopefully taking their rightful place with tulips in the dustbin of history. Snake oil.
So, when I look at gold down less than 1%, it doesn’t seem so bad. OTOH, when I look at silver down $1…it seems bad again. 🙂
Silver is just mainly an industrial metal, especially during market downturns. There are a lot of funds with long positions in silver, no doubt they’ll be puking. Banksters win again, simply brute force.
China lied and ended up buying 53 tons of gold in May, after saying they’d stopped buying. Imagine that.
Got a pretty good storm here the last couple of days. Didn’t expect the 95 mph wind gusts, but still have electricity praise God. Some awesome thunder and lightning, just beautiful. Only 5 inches of rain in the last 24 hours though. We’re on the tail end now. Will have to help my neighbor clear the branches and palm leaves from his yard. It’s a mess, and of course pick up the stuff that’s blown over into my yard.
Hunker down. It’s going to be OK eventually. 🙂
Wowser
Literally everything around the world is in crash mode. Nikkei down 12+% as the Yen climbs.
Bitcoin down 9+% to 52K (can’t say that bothers me) Oil down in the $72 range. PM’s down – Gold $20, Silver $.74 we never have held up in a crash, so no reason this time, I guess. Although on a relative basis, gold is a winner compared to platinum and palladium, which are down 3+% and even copper, down 2%. Not much of a consolation.
SM Futures getting clocked, Nasdaq down near 4%
Though the dollar is down, as well as rates. So, bonds are the clear winner with the 10 yr. down to 3.75%
NVDA now down 20+%, raging bull to raging bear. That doesn’t bode well for the Nasdaq, which is about 70% overvalued.
So much happening in the country and world. War in the M.E. expanding quickly. Hard to see the markets finding their footing for a while. On the plus side, inflation should come down, rate cuts are assured.
Buckle up. Long day and month ahead.
Never let a crisis go to waste
What will they use this crash as an excuse for? Ever since they introduced compulsory superannuation (pensions, to you yanks and poms) they’ve been tinkering with it, taking more taxes, making you pay more, making self managed super funds more expensive and complicated to administer. My guess is that governments around the world, as bond yields rise, will simultaneously claim that super/pension funds are far too volatile to be a reliable source of retirement funds but don’t worry, the government is here to save you and will now make it compulsory for funds (from Vanguard down to the mom and pop variety) must hold 5% of their portfolio, increasing to 30% over the next five years, as government bonds for a safe, reliable annuity. This 30% maximum will, of course, never ever be increased. Nor of course (again) is this anything to do with providing govts with an increasing form of cheap finance.
Japanese
Bonds and stocks have been halted trading ( to curtail continued downside)….
and the scum use this as an excuse to bash the PM’s lower…….
SM futures in some trouble early
Oil up 1%. Everything else, not looking great.
PM’s down a little. Will be interesting to see what they do with them. Hope it’s not the usual.
Bitcoin, Ipso
ZH has an article out saying Bitcoin is crashing going into the Japan market open, Bitcoin is down 3%, just under $59K. Not sure I have up to date information, but the Euro appears to be in rally mode against the dollar as does the Yen.
Would love those folks selling Bitcoin to wade into pm’s. A little bit could go a long way.
Ipso – you may be right about Buffett, he’s selling big chunks too, not messing around. You mentioned the pawn shops and everyone selling. That does make sense, people are hurting out there. The local coin shops have plenty of inventory, folks here in the US should be trading stocks for pm’s. Hopefully they will pretty soon.
Likely good timing
Buffett Calls The Top: Berkshire Quietly Dumps Half Its Apple Shares Amid Unprecedented Selling Spree
When yesterday we said, when discussing Buffett’s ongoing liquidation of his Bank of America stake, that “Berkshire’s rising cash stockpiles merely reflect the firm’s inability to find deals in today’s overvalued and weak economic environment”, little did we know just how accurate that would be, because fast-forwarding just one day later we find that far from only dumping Bank of America, the 93-year-old Omaha billionaire had been busy quietly dumping his most iconic holding in an unprecedented selling spree that sent Berkshire’s cash pile soaring by a record $88 billion to an all time high $277 billion at the end of Q2.
FWIW – COT Report
Lot’s of action. Funds doing some selling, banksters covering, yet for all the back and forth Gold was up around $50 and Silver around $.90 on the week. If they hadn’t come in yesterday with the big flushes (there were multiple) the gains would have been closer to 3+% in gold and 5% for silver.
Which makes the dumping of the shares yesterday all the more ridiculous. SNG is right though, the shares are completely managed by Blackrock. Who knows how high the metals have to be before they start going?
Morning overton
I don’t own GROY anymore. I watch it, but I just watch the shares mostly for an indication of what the metals might do.
No doubt they took a big haircut with that purchase. Hard to see them coming back anytime this year since they are at 52-week lows and there will be tax loss selling.
The royalties seem to hold up better than anything else in terms of miners, so eventually maybe they’ll be a decent play. Who can know with any of these things?
Best
Buygold GROY
I was curious why the share price isn’t going up these days. Its the $50 million they spent recently with that copper royalty they bought in Bosnia has a problem with the Forest Service that might have to be resolved. q2 mine operators release . If they ever rewire the Ukraine that Vares copper mine is fairly close.
https://www.research-tree.com/newsfeed/article/adriatic-metals-quarterly-activities-report-2494168
“David Garofalo, Chairman and CEO of Gold Royalty, commented: “Closing this Transaction further solidifies our outlook for strong free cash flow growth in 2024 and beyond. We believe Vares is an exceptional asset that supplements our robust portfolio of royalties on long-life and low-cost projects in top-tier mining jurisdictions. We look forward as our operating partners deliver at the assets underlying our interests and our revenue growth potential is crystalized.”
that town, Hurts a govina fits the share price
Anecdotal
So I’m in a pawn shop today. How’s business I say? The proprietor says “Terrible everyone wants to sell and no one is buying.”
I think the average American is near broke. JMO
Buygold. BlackRock is the dog; Aladdin is the tail that wags the dog! IMO Both are used by the Fed to prop it up with valueless Derivatives since 2009. FWIW!
BlackRock and Aladdin, with super computer programing, can control everything paper or digital. That’s why I’ve gone to PHYZ in hand this time around. When the quadrillion dollar Derivative financial world goes bust, and it will, the only thing left is what you have IN HAND. FWIW and DYODD! Best wishes from Silverngold!
