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Wholesale gasoline 1.72 , retail gasoline 2.60 , Copper steady @ 2.80 , Palladium over 2K for two days , Rhodium steady @ 7K , Nat Gas 2.16 , heating oil steady @ 2.03 , Dow still @ 28500. Everything looks pretty steady .
Do something Danke
Barring any escalation in the Iran warm war, it looks like gold hit a near term peak. Silver and miners never broke through a long standing upper resistance. I would expect a pull back for the next 6 months.
"Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
"Beware the Military-Industrial-Financial-Pharma-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
"Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
"Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul
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The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.
Interesting. And I sold very close to the peak. But that’s because I long ago set my sell prices. No reason to let short term emotion interfere.
The markets are pushed one way or another by the big players, and they don’t trade on short term emotion. If they want the markets to really move one way or another, they make it move. If gold had continued to go up, there would have been a short squeeze and containment would have been lost.
"Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
"Beware the Military-Industrial-Financial-Pharma-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
"Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
"Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul
Proponent of real science.
The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.
I think devil mentioned it earlier, but this "war premium" in gold/silver is happening while there appears to be significant structural issues with the COMEX gold/silver market. I imagine that the run up in price is due to institutional investors (hedge funds, etc.) who are happy with "paper gold", but if demand shifts for actual physical metal, things could get real interesting.
Spread the word: Gold as Unpegged Legal Tender (GAULT) | PMBug's Vault (Articles)
There is massive monetary inflation. Prices of everything are “going up” in terms of the devaluating fiat currency. Manipulation is taking place to prevent gold from being a clear barometer on that monetary inflation. The entire system demands it. “Paper gold” is key to that manipulation.
"Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
"Beware the Military-Industrial-Financial-Pharma-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
"Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
"Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul
Proponent of real science.
The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.
I'm still buying Krugerands as long as gold is under 1600. im a long term investor and can only see it heading towards 1800
"Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
"Beware the Military-Industrial-Financial-Pharma-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
"Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
"Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul
Proponent of real science.
The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.
Commercials are the most net short not only since 2016 but since forever, and by far: in 2016 they were 300,000 contracts net short, today it's 10% more, 330,000.
B4L is right when he points to a potential short squeeze as the reason why they kept a lid on it.
Had the price kept climbing up, the first shorts had started to close their positions on the upside, starting the avalanche.
Don't forget that among the shorts there are not only hedgers but specs too.
Commercials have to close they positions and clear the COT.
I've tried to look at how much the gold price sunk in the past in order to allow the shorts to close big positions (still much less than today).
In 2013 the gold price sunk around 30%, 2016 10%, 2018 almost 10%
https://www.barchart.com/futures/com...al-charts/GC*0
So, based on the Cot only, sub 1400 seems to be in the cards.
If that happens though, it will stay there for a very short time.
On the other hand there is A. Maguire's prediction
https://www.tfmetalsreport.com/podca...andrew-maguire
Last edited by oyarde; 01-10-2020 at 10:17 AM.
Do something Danke
Dow at 29k now and gold 1560.00 . Silver and gold both look to have upside . You can get an ounce of silver for the cost of 7 gal of gas or 3 1/3 lbs of bacon and most people do not have any .
Last edited by oyarde; 01-10-2020 at 10:21 AM.
Do something Danke
1145
Last edited by bv3; 01-15-2020 at 01:49 AM.
E. B. Tucker ( director of Metalla Royalty )said 1900 is next and that is when the public will catch on . We shall see . Personally I would expect 1600 next week simply because there is no reason not . That is still cheap insurance against a 29K Dow .
Do something Danke
Gold firming up. Not a big fan of predictions. But stock market in a vulnerable position. Low vix and put call ratio and overbought plus a lot of fever brained speculation in "growth" stocks.
Market hasn't priced in any chance of Sanders winning. Wouldn't be surprised if market gets more volatile heading on Iowa and New Hampshire. Sanders winning Iowa might be a jolt to markets. Might be good for gold.
Todays high has been 1585.20, at about 1580 now.
Do something Danke
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