Loading ...Are we just back testing the down trend break out in GDX/Hui etc
and is spot Gold just back testing the 50 day Av
Captain Hook @ 13:07
I think their monetary experiment is taking on water!
How do you like that … Japanese citizens are BIG savers … but their gov spending is going to sink them.
ipso facto @ 12:57
You are right.
Nikki is down 10% in a week.
Bounce incoming but more selling to come.
D’oh!
Someone big in Japan is blowing up, taking down Nikkei, gold and crypto with them
I saved this for all you day traders….since you’re all playing in the same big rigged Casino…so same advice applies unless…
….you’ve got Silver and Gold in your hand. Otherwise in the end the Casino always wins!
deer79 @ 12:00
That’s exactly right.
The Chinese play the long and smart game.
Patience is key.
Cheers
Pure speculation on my part
…..but perhaps the buying we saw a few months back (that we hopefully perceived as a possible de-coupling of the rig), was the Chinese doing a “trial run”, to see how they could potentially affect the metals market, and to send a message to the Cartel. In return, the Cartel aggressively shorted their buying, and are now gleefully thumbing their noses at the Chinese to say, “no way you’ll manipulate our markets!” And the Chinese continue to patiently accumulate and wait in the weeds……..
Alex Valdor @ 9:58
Sounds like Heaven … Klaus-Heaven! 
but hell for everyone else …
Captain
The beauty of my position is that I have been so stupid, that I have no choice but to hang in there now.
Time is my enemy where pm’s are concerned.
Maybe it will be in the fall. Maybe it won’t be. Maybe we’ll continue to crash with tech, although right now I’m watching tech come roaring back. They never let pm’s come roaring back do they? Trying to predict the “when” in pm’s is a fool’s game, because it’s basically predicting the end of an economic system and a reserve currency, which have both lasted years beyond their time.
The times we live in are extraordinary. The lines between good and evil have never been more clear. Despite the destruction I’ve endured in my life with pm’s, and markets in general, I feel blessed to be able to witness this generation. We have seen things that were unimaginable even 25 years ago. Most of them evil but we are now seeing miracles as well. I consider Trump living a miracle. The rise of clear thinking leaders like Tucker, Musk, Jordan Petersen, even Russell Brand standing on the side of what’s true and good. I think we’ll start seeing more miracles and more darkness in the very near future until the two finally clash. What’s going on in the unseen realm is all that matters anymore.
Deer79 @ 10:00
Yes, definitely could have something to do with the SM as the timing and she’s not exactly a bullish out look.
Buygold summed up the rest including the early drop into the Fed meeting possible scenarios. On the other hand maybe they’re not falling for it this time so not waiting.
Buygold @ 9:22
Yes very frustrating.
However, this frustration will end violently at some point in coming day, weeks, months(?)
Up until now, with all the f&ckery associated with keeping their precious stock market elevated, credit spreads have remained suppressed at the lows.
And while it may take much more selling of the broads to wake these idiots up, it will happen going into the Fall if indications continue to unfold (Yen carry-trade unwind, yield curve un-inversion, etc.).
Credit spreads will move higher too – and PMs will explode higher.
Admittedly, it looks like this could take until Fall due to liquidity conditions in the meantime, so days like today could repeat, however the question is do you want to be out knowing things could change very quickly.
So let’s hope the idiot futures specs leave quickly and we get it over with fast.
Because the next leg higher should be epic as the reluctant and delusional (think Blackrock, etc) are forced into the sector.
Hang in there.
Buygold
You really think they’d pull the rug from under Kamalanomics 100 days before the election?
IPSO re: 9:35 Why?
So Zat by twenty-zirty you vill own Nuzing , but you vill be happy !
brain-dead more or less ,in your cubicle living quarters in the mega-city near the juncture of the borders of Germany , Netherlands and Belgium , while they luxuriate in their huge estates .
deer79
Yep. It’s amazing isn’t it? Nothing about this country is either forthright or real anymore. Everything is for the benefit of the Leviathan, those who pull the levers of power. The only difference is that now they operate in plain sight and give us the finger. What are you going to do about it? They say. Whether it’s pm’s or the assassination of our President. They really don’t care that we know and are in fact challenging us to do something about it.
The only thing they understand is fear. My hope is that God gives it to them – and we help if needed.
BTW – I left out one thing. Durable goods were minus 6.6% today. How do you get a GDP of plus 2.8% with durables down 6.6%?
Not possible.
Buygold
Well said………
NEM’s price action this morning says it all…….
On paper, a very good earnings report. But in this dystopian world, that simply does not matter, and it gets taken down 4.5%…..
“Shut your mouths, do as your told, don’t invest in mining companies…period.”
No rhyme or reason
Dollar down, rates down. Both should be pm bullish. Instead, we get pm hell. Another inexplicable crash.
Although I guess it’s very explainable. The banks, sanctioned by the corrupt Fed and Regulatory bodies decided gold had gone up high enough and poured tons of paper shorts into a market that is always rumored to be running out of supply, but never does, to take prices down, likely prior to a rate cut, knowing full well a rate cut will be bullish for the metals.
They add a phony GDP number to the mix as “the excuse”. Problem with that is, the metals crashed well before the numbers came out AND if the numbers were so great and bullish, why is the dollar down a little? Why isn’t it soaring? Why aren’t rates soaring?
So, what do they accomplish? They take any excitement about the miners out of the game with lower prices, even though they have higher earnings. NEM being the prime example this am. They also make it so that when they do cut, the best the metals do is come back to where they were, which of course, they will make sure, takes weeks or months.
Lower metal and BTW lower oil prices run cover for their cut, they must be falling because inflation is coming down right?
Lastly, the SM is rolling over. Gold can never look like a safe haven in that scenario, it never has been, and never will be. Nothing will ever be allowed to compete with US bonds. This is the third world oligarchy we’ve created for ourselves in the US.
Just need a few more things to happen, just need a little more patience, yada, yada, yada
When you don’t know, and you know you don’t know, that is the beginning of wisdom.
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Another waterfall
They happen at will now……
What the hell happened a few months ago, when it looked like the metals were starting to break free?
The same old BS….
Captain Hook,
I wish I had your optimism and I commend you for it. My patience, after some 16+ years is gone…..it should have happened by now……..
Sorry for my pessimistic rant. I’m out…
The cancer grows
Blatant theft. Austria, Billion dollar Agriculture organizations are asking for the genetic information of their vegetables and even beer. They want to then apply for patents to make it theirs.
Ipso
Good for you but remember you need exercise too and I need to practice what I preach. As is I get frustrated trying to even type anymore. First because I hardly write all those years but on medical charts in a basic other language two because CMT effects the strength in my fingers too and the more typing the more numb they get and want to keep the dexterity I have even of weaker now that as far as typing can be a problem where I just want to give up on it.
Buygold
Powell is under pressure by the usual over paid inflation clueless who never had real jobs in the real world but he presses on that his decisions are not political. I’m sure that could be argued by his pros and cons but has been steadfast when he sees a conversation heading in that direction. Common sense like Mr Copper mentioned combined with the sudden slowing of upward momentum and just hope we’re not nearing the first top of a roller coaster ride BTW do you know CPR just in case, says watch out.
If it does perhaps it won’t have too much effect with the September meeting soon following or perhaps hopeful thinking. Then we have the SM, if it drops too far in expected August market doldrums especially with one small group of stocks holding it up. Perhaps wall streets way of putting pressure on the Fed and look at some of the big players in the market. They’re not exactly thinking about best interest of this country.
So your guess is as good as mine.
I watched a bit of Powell the other day and he said Jackson Hole the people who attend pay people to write up their papers, argue in the morning and go hiking in the afternoon.
When asked if people try to get any information from them he said he doesn’t even go out to eat anymore. If he does they have to get a room so he mostly doesn’t go out to restaurants. I wonder if wall street hires people to follow them.