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Remember “Sell In May and Go Away??”
Check out Gold’s last may’s high at $2057. And take a look at the beating it took by October. Today, Gold is up only 7% above last May’s high.
Wow – hurtling toward $2200
Silver reverses. Dollar still basically flat.
There actually appears to be short covering in the gold market. Boy, I’d love to see the banksters start to cover those 300K or so shorts.
I must be dreaming again.
It’s nice to see Gold nailing new highs above $2200
Alot of posters that have passed on would be proud. My hands are firmly grasped on the plow.
The Golden Age has arrived.
@Buygold re Silver Holding Back Miners
I think you’re right. Its probably easy for them to hold silver down. Its so cheap, banks and gov’ts won’t buy it, it would take up too much space. We’ll need John Q Public to start hoarding it like the 1970s. Gold up $33 now. at $2198. Silver down .03 cents.
Nasty reversal in NVDA
QQQ’s following suit. When they finally pull the plug, it will be epic.
Gold is acting beautifully, I’m stunned by it today. Brilliant.
edit: silver just crossed the positive line. The dollar too, and we’re ignoring it. Unprecedented!
Mr. Copper
I said it for a long time. The miners follow silver, period. If silver comes back with gold, the miners will respond favorably. I don’t know why it is so, but it is.
Gold Opened Up Another $11/oz, Shares Followed it up, and suddenly the Miners are Lower??
What kind on nonsense is that?? Are the scum trying to scare the spot Gold price down by driving gold miners lower?? Or did they prevent or stop gold from going up $22 or more.
$16 Higher now at $2181, its getting very close to blow thru $2200/oz. We will never see sub $2,000 gold again.
Well
They didn’t crash the shares out of the gate as I thought they might, not yet anyway. Let’s see if we can get silver to fight its way back.
A mark in his favor
My colleagues in the US report that Jerome Powell has firmly pushed back on a CBDC being rolled out in the US anytime soon. pic.twitter.com/fbXnY8a6ZS
— Izabella Kaminska (@izakaminska) March 7, 2024
Buygold @ 9:27
“joke of a report” Right you are my friend! Anyone who believes those numbers is a complete fool.
Yes, nice see gold stay strong, I’ve thrown away my catfood recipes. 
Ipso
That was a joke of a report. The headline number is so obviously phony, when you have the unemployment rate rising and the household survey falling.
No doubt it will be revised down bigly, just like January was. There is an unbelievable war on the truth in this country.
All that said, I’m stunned at the resilience of the metals so far this am. A few months ago this would have been completely reversed in a nanosecond, and we just keep fighting back. Don’t know if we can keep it up all day but it is astonishing.
but but what about the gov numbers?
Everything is fine … ??? pic.twitter.com/pSgXhkJunI
— Wall Street Silver (@WallStreetSilv) March 8, 2024
and gold jumps
February Jobs Soar By 275K, Smashing Estimates, But January Revised Shaprly Lower And Unemployment Rate Jumps To 2 Year High
Yep. There they are
Dollar inching back. At least we got to $2180. That will be the next big level for now.
Jobs numbers must have missed
The knee jerk reaction was a nice pop for our pm’s. Dollar slipping, bonds rallying. Oddly enough, the QQQ’s aren’t really popping outside of NVDA.
I’m always wary of this, the scum has been reversing our pops on days like this for eons. Hopefully we’re in a new era.
Tread lightly my friends. 🙂
INTEGRA ANNOUNCES CLOSING OF ROYALTY TRANSACTION WITH WHEATON PRECIOUS METALS AND RECEIPT OF FIRST CASH INSTALLMENT OF US$4.875 MILLION
FREEGOLD VENTURES LIMITED ANNOUNCES UPSIZE OF PREVIOUSLY ANNOUNCED PRIVATE PLACEMENT TO $10 MILLION
METALLIS PROVIDES UPDATE ON GREYHOUND TARGETS AND UNCOVERS HISTORICAL RECORDS OF BONANZA GOLD
Noble Minerals Completes Geophysical Surveys in proximity to the Location of a 140 kg, Mineralized Boulder Found near Hearst, Ontario
https://ceo.ca/@thenewswire/noble-minerals-completes-geophysical-surveys-in-proximity
Big Gold Commences Geophysical Work on Tabor Gold Project in Advance of Planned Drilling
https://ceo.ca/@newsfile/big-gold-commences-geophysical-work-on-tabor-gold-project
SSR Mining Announces Changes to Executive Leadership Team
https://ceo.ca/@businesswire/ssr-mining-announces-changes-to-executive-leadership
Cartier Silver Announces Closing of $1.8 Million Financing
https://ceo.ca/@globenewswire/cartier-silver-announces-closing-of-18-million-financing
Gold Bull Closes Over-Subscribed Private Placement of $1.36 Million
https://ceo.ca/@globenewswire/gold-bull-closes-over-subscribed-private-placement
Astral Resources delivers best gold assays to date at Feysville
https://ceo.ca/@thenewswire/astral-resources-delivers-best-gold-assays-to-date
KOOTENAY SILVER ANNOUNCES FILING OF NI 43-101 TECHNICAL REPORT FOR THE LA CIGARRA PROJECT AND ANNUAL INFORMATION FORM
https://ceo.ca/@newswire/kootenay-silver-announces-filing-of-ni-43-101-technical
PPX Continues to Deliver Outstanding Drilling Results with up to 33.08 g/t Au, 8174.2 g/t Ag and 13.1% Cu
https://ceo.ca/@accesswire/ppx-continues-to-deliver-outstanding-drilling-results
Gold Fields Completes the Sale of its Interest In the Asanko Gold Mine for Consideration Including Additional Shares of Galiano Gold
https://ceo.ca/@newswire/gold-fields-completes-the-sale-of-its-interest-in-the
Jobs report today
Forgot that was coming.
We’re up a little in the overnights, but caution is most definitely warranted.
Spy Games
‘Clearly Overlooked This’: Probe Finds Strange Communication Devices On Chinese Cranes In US Ports
A congressional investigation has discovered strange communication equipment on Chinese-built cargo cranes at U.S seaports, The Wall Street Journal reported on Thursday.
Rather than building them domestically at potentially higher costs, the U.S. relies heavily on Chinese-built cargo cranes that are relatively cheap to produce and equip at seaports across the country. The congressional probe discovered that several of these cranes, built by Chinese mega-manufacturer ZMPC, contain communications devices that were not requested or don’t appear to support standard operations, heightening existing espionage concerns, according to the WSJ.
‘Clearly Overlooked This’: Probe Finds Strange Communication Devices On Chinese Cranes In US Ports
Buygold @ 15:47
Perhaps in a future time the HUI will run like the QQQ always ever upward with nary a fart to disturb the mellow. But I guess for the present time we’ll likely see a nasty selloff at some point … for the Big Picture I think the wind is at our back.
Maddog @ 15:29
If the Yen rises against any currency it surprises me!
They’ve got the biggest bazooka of anyone.
Ipso – yes
It could be a good tell as to how the metals go moving forward. RSI in GLD is above 80, so we’re probably going to take a hit very soon. We shouldn’t HAVE to take a hit, Bitcoin and NVDA never do, but we will.
Looking at the volume in SLV, better volume than the little melt-up it had at the end of Nov. last year. Kind of hoping volume increases as it moves up.
HUI still well contained but just popped above its 200 dma for the first time this year. That chart looks good to me though. Too bad charts are so unreliable with pm’s. Overbought is always the best indicator for a flush in pm’s unfortunately.
No complaints but I continue to be in awe of the QQQ, all losses wiped away from early in the week. I just don’t see that ending well. Heck, maybe it won’t end at all. 🙂