Loading ...Re Buffet…he also had a very big Silver position, at one time, but was leant on to dump it and in exchange he got to lend billions to a couple of Banks , at usury rates, while knowing the Fed would stand behind them ..one was I think GS …any way he cleaned up….that is what being well connected gets you…..
He has always rubbished Gold in particular, so I doubt at this stage he would suddenly change a lifetimes, negativity, but making money always trumped any principles he had…so who knows.
As things move on and right now isn’t good keep in mind what resources you have local and what you don’t. If inflation starts raising it’s ugly head it’s gonna cost a lot more for some companies needing to import things to make or build their things and pass it to the consumers at a time when prices are already too high for their products now and will be least affordable as it gets worse and businesses start to slow down. Anything your gonna need maybe get it now on top of what the market is doing knowing what companies will be at risk if investing outside of PMs..
I saw a mining company found a whole lotta minerals more than China besides lithium needed for AI. I will have to find it again because I wasn’t interest in the market except defensive but might invest in a couple to put in A trust. It’s in Canada. Chinas not too happy about that. Too bad they’re stuck with Carney right now. If he’s a pain now imagine when it gets worse instead of making the best of of a bad situation.
and that chart doesn’t show what India is upto !!!!!!!
Lol
I know as I said it probably won’t matter right now. Did you know the Warren Buffett during the chaos in 2020 bought Barrick gold? He since sold it. I wonder if he would buy a gold stock again as things unfold. Now we’re seeing funds allocate it in portfolios that never did before.
FWIW the Aden sisters are saying, you can buy all PM’s here, as they still have miles to go…and of course all dips/sell off are buying opportunities….which considering the speed of the rise is an extraordinary statement.
Columbus Day is a Bank Holiday…no bond trading. Only lower forms of life, like Stock Brokers and Commodity Brokers have to turn up today.
Above London close last checked but Pal and Platinum got taken a bit lower. I kinda regret not buying Platinum when Trump got elected. I don’t know if it will matter now but I can see new car sales start to decline the way the economy is. A bunch of rentals about 700 got caught up in a faud case in one state bought by a speculator then raising rent prices in a poor neighborhood, then got a loan for renovations but never did renovations and stopped paying leaving both the lenders and tenants out to dry. I wonder if we’re going to see more of this down the road.
Silver even moving back up toward the overnight highs.
Shares have been fading ever since premarket trading started here in the US at 7 am EST. That sort of gives me pause.
Crimex opens in 45 minutes and they will set the tone for the rest of the day.
I’m cautious. The dollar is starting to move up.
Makes sense.
I see they’ve managed to get a better grip on silver in the last couple of hours, still up around $51, but well off the earlier high of $51.76. Interesting how well gold is holding, only $4 off the high of $4080.
Shares booming in premarket. So maybe we can hold on?
Looks like our bonds aren’t trading today.
RE Plat and Pall
They are thin mkts at the best of times…..I would guess because both have had long bears , that the Algo’s have shorted and shorted, all the way down and are thus massively short and have probably sold loads more into this rally , as every rally has failed before long, in Plats case since 2008.
They may have hit financial stops , perhaps they have …but there will be no serious sellers for ages yet…..hence the straight up moves
are rallying so much? Palladium is up $60 – 4.33% Platinum $53 – 3.33%
There must be plenty of gold supply, it’s only up 1.33%
Yeah, I don’t know what I was thinking when I said “it’s different this time.”
It’s never really different is it?
It does appear that the billions of oz. of paper contracts that are short silver on LBMA might have a problem though. I guess this is what a default looks like.
I do expect the Crimex to raise margin requirements this am again to try to stop the rise. It’s the American way. 🤔
a result of multi leveraged re-hypothecated cross collateralised obligations. And an inability to execute trades quickly enough putting the whole system under immense stress. One domino falling triggered multiple cascades in every direction. A bit like we might expect derivatives to fail if the system gets too stressed. Nobody knows the counter-counter-counter party.
PMs don’t seem too fussed by it.
I found it. It was you!
Actually you said Gold to the Stars!
Implying we were going right past ‘da moon’. To the stars.
“It’s different this time”
I’m sure I’ve heard that or seen it written somewhere. 😁
Someone else is squeezing your silver tonight too. 😉
Another big move, although they love to reverse moves like this on Mondays. Hope not, but I’m expecting to be disappointed..
Up over 3% for now. $51.50
Wow.
Hope that helps. 🙂
Re the Crazies…..the only way they can keep any power, is if elections are cancelled, a free vote will see them destroyed…..In the UK if an election was held now, Farages’s Reform would have a huge majority and Starmers Labour, would barely exist….similar in France and soon in Germany.
… they are being forced to back off … now people need to follow through and root the crazies out of power …
… because all the money these idiots have was stolen from you … but being crazy … they don’t see it that way.
If stocks turn lower for real here, the crazies will lose power … hopefully enough to stop them in their tracks.
Everything is crossed
Yes, I know. Same with oil refineries, I don’t think we’ve built one in what, 50 years?
If this were wartime, and we needed them, you can bet those regulations would be stripped away and we’d have those things built very quickly. That’s what he needs to do somehow.
Gold and silver getting some traction now in early trading.
