Do you think the US government will confiscate and revalue gold like they did in 1933?
Total Voters: 36
Loading ...Interesting. This is weird action today. Markets are all over the map and it appears we are trading with the buy/sell programs going off every now and then.
At least we seem to have some underlying strength in gold as we’ve come $20 off the lows and are holding up and down around the flat line. I don’t know if there’s news of some kind but volatility is the game right now.
You would need a forklift to pick it up. If Gold closes in the $2400s, I think that would be a very good sign. Adjusted for inflation, it should be $2800 to match the $140/oz when we were allowed to own it.
I reckon we have a whole new mkt here…..one that doesn’t care what else is going on, one that is just seeing huge demand for physical gold and silver, but gold in particular…..and my guess is China is the buyer.
As I have said before…it’s the action…I just popped out for an hour or so, Gold was trading 2390….I checked while out, saw 2386…thought OK, so buyers backed off a touch….come back and see 95/97….that is relentless buying and almost certainly from dealers covering what was sold overnight, by their Far East branches…..and it is happening every day, no matter what other mkts do…….
This is pure guess work…..there might also be a whale in the West, who buys everyday in massive size, to cause the same action…..but somehow I doubt that….this smells much more like millions of Chinese buyers…..just 1 million oz is nearly 28 tonnes….10 million = 280 tonnes and it is all phys….
Plus this action is getting the Share shorts to add, if metal keeeps climbing, then at some point the shares will get bought big time ……they are gonna have to cover huge shorts in a buying frenzy…..the perfect nightmare.
Transport Minister Threatens Germans With “Indefinite Weekend Driving Ban” To Meet Mandated Emissions Targets
Bank in Canada won’t let customer withdraw cash
they ask him to prove why he needs cash pic.twitter.com/jSghFYxLcI
— Crypto Tea (@CryptoTea_) April 15, 2024
I think the HUI is confirming your suspicions. It’s done a quick 10% or so correction since Friday. If this is our real bull, that should be about it and we’ll move higher.
Still a few things they aren’t squaring with me. Gold, rates and dollar all up together. I don’t really care though as long as gold is up. 🙂 Bitcoin down again, would love to see some of that money come over.
Speaking of which, First Majestic. I held that stock even after figuring out the exact top which was basically a double top. Now I will never buy that stock again. It drops way too fast. Plus it was too interested in another project snowline at it’s expense. I just caught it did just produce some metals but you know what they say about news. Then I heard from Rick Rule just last week or so it’s too interested in another project and had a different name. It’s all over the place. Now if they were going after top like tier 1 and had a potential for a big mine vs a bunch lower level small ones might be good for future interests. Less your just trading in its sector sympathy and get in and get out.
Yeah it seems to be a pattern but can still not drop. That’s why it’s safer to have stop loses or at least cover cost and taxes instead of guess, if it heads down you’ll have more to buy back, if it doesn’t and sold too soon just have cash on hand to buy it back. More than not stop loses save you money. Then again near tops, you can think it’s gonna breach resistance so you hold instead of sell or at least half and I’ve done that and hold and instead it falls back down and fast. It can bring the worst out on you sometimes lol
Tks for that re Golden Cross…..and the formation, where the 50 av touches/ breaks the 200, then falls away and then goes back and breaks above, I have noticed gives a super buy signal…..and this one has done it twice and we have a double bottom.
the whole world seems terrified/in awe of AI….well there is no better place to test it, than in the mkts…and so far it don’t look too bright at all…..someone is clearly buying huge quantities of PM’s, they are in every day, day after day, something really smart might see a pattern…..yet the AI Algo’s only see it as a shorting oportunity for the shares……talk about dumb…..
and lets face it the financial AI is as good as it gets…..
FWIW and doesn’t mean ignore stop loss percentages be 7-10 % or what ever but both XAU and HUI just made a golden cross. Doesn’t mean they couldn’t drop to the 50 or 200 ma first or not especially with the SM not looking too good but generally followed by higher highs. Generally
You know that Jewish person I mentioned says Israel will probably be destroyed because of their own hate. That they are made believe since WW11 they don’t want any non Jewish neighbors. They’re not exactly good neighbors. Also according to others not a good military. Many who were killed in that attack were killed by friendly fire including when taking hostages shot at and killed the hostages too. Also said that there was no sexual assault or abuse one said she was in her PJs and they handed her cloths and told her to get dressed. She lost two of her friends by friendly fire. Not saying no one was assaulted but she didn’t see any.
Buygold I heard on Bloomberg that the UK is getting a appetite for gold too. Other options is short term treasuries a anti gold mentioned without mentioning the value of those dollars vs inflation.
First Majestic down 10 % on Silver down 3 %….yet ystdy Silver was up 3.5 % and the First shares unch to down even!!!!
The whole situation is a gordian knot. The hatred is so ingrained I don’t think there is a solution. It will be a festering wound on the Earth as long as man is here. JMO
“Get rid of Hamas” Good idea although I’m not sure how that can be accomplished. Look what Hamas has done to Gaza!
From the @WSJ article, “America’s #bonds are getting harder to sell: Record issuance raises worries that #debt sales will exacerbate volatility.”
Concerns about who would buy all the stepped-up US bond issuance had significantly diminished since their peak last October. However,… pic.twitter.com/cSk2au0IjD— Mohamed A. El-Erian (@elerianm) April 14, 2024
That is funny. What Iran should do is help in infrastructure and help Palestine their own military and get rid of Hamas and own dome to take out missiles and drones plus their own port for supply’s and food so it doesn’t have to go through Netanyahu and zionist ” not Jewish” land stealing war mongers. Where in the Tora does it say to turn into a war state. A son of both parents survivors of the worst concentration camps said he feels safer in the UK than when he was in Israel. That they’re spreading antisemitism but those complaining about it aren’t moving to Israel anytime soon.
?BREAKING – Flyers distributed at NGO in Mexico encouraging illegals to vote for President Biden
The flyers reads:
“Reminder to vote for President Biden when you are in the United States. We need another four years of his term to stay open”
A MUST READ CRITICAL THREAD ? pic.twitter.com/Mod4IeROXf
— Oversight Project (@OversightPR) April 16, 2024
They are shaking the tree pretty hard this am. Doesn’t jive with the metals.
I remember these shakeouts back in the day when we actually had good rallies. 🙂
Those days are returning.
SM not exactly running away this am.
??? pic.twitter.com/MOhy4aWVZd
— Wall Street Silver (@WallStreetSilv) April 16, 2024
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It looks like the SM wants to go lower so a bounce could be a dead cat bounce. Hard to say what they’ll do since Biden needs a happy market in the middle of chaos and mayhem he and his un-merry misfits are causing. Powell really wants to drop the interest rates too but since it looks like he can’t he’s saying he may not need to and may wait till September. When have they ever got things right.
I’ve been looking at miners that are finding high grade gold in other country’s for future reference, if we have one, cuz of Biden not only interfering with oil company’s but has plans against miners too. Hopefully if Trump gets back in he’ll undo that. Nem is over in New Guinea looking a Pacific Gold FSXLF I don’t think it’s producing yet so don’t own it right now but big company’s are going over talking to them like NEM and Barrick and heard Boliva is a good place too. Not just that but all the other problems we have now.
It does appear that we are sort of moving inverse the SM.
They’re trying to bounce the SM early, but they tried that yesterday too, so we’ll see if they can hold it today. The VIX has been bouncing lately, hard to tell if that continues or reverse lower again. One thing I remember vividly, if the SM opens higher most days and then sells off during the day, it seems there is a bigger correction coming. Maybe things have changed with the advent of algo’s and computers, but I sort of doubt it.
The big boys like Bezo’s and others were selling in droves a few weeks ago. Hard to imagine that they don’t have inside info.
HUI might have to tap 250 before squaring itself up, they seem to be selling the pm shares down a little harder this am. Earnings start to come out in a few weeks for most of the miners. Hopefully they show some improvement with the higher metal prices.
3:17 am Pacific Dow up a bit, gold/ silver down a bit so still inverse. Was kinda wondering with Israel and the US wanting WW111 if Dow would bounce.
If the pattern is continuing the Dow might bounce a bit soon. Gold ahd the tug of war might continue but would like to see the bulls win and get to the next target sooner than later but will get there when it does. Imo any risk takers in stocks should have a don’t lose profits exit plans if things turn south too far.
