Loading ...into the close. Solid.
I guess now we’ll see what they do with silver. At least back to $90
Buygold @ 13:15
I agree. The paper futures market is just a sham, a pale reflection of the real thing.
Well … today’s loss in the PM shares has been cut way back, just an opportunity for people to lose their positions, while other hands take them.
The Situation
This lady sounds like she knows what she’s talking about.
https://x.com/mrwhiplash_/status/2025339323147551126?s=42&t=IQgRcdFd6yA2GQvrJdrgAQ
Ipso – thing is
If there’s a paper market that doesn’t allow you to take delivery of the underlying product, how is that a market at all, much less a pricing mechanism for the world. Why would anyone trade based on it’s price, especially the miners.
At some point it will just fade away.
U.S. GoldMining Announces Positive Preliminary Economic Assessment for Whistler Gold-Copper Project, Alaska
https://finance.yahoo.com/news/u-goldmining-announces-positive-preliminary-113000149.html
Took a big pop on the release. Wish I owned it
Buygold @ 11:37
The Chinese have been closing down some access to silver for the common folk. There’s not enough there either. I don’t know how the crimex price differential keeps existing. Seems like the arbitrageurs would be going wild!
From DuckDuckGo AI … You won’t see those ounces again!
Each Tomahawk missile is reported to contain approximately 500 ounces of silver, although the exact amount is not publicly confirmed due to military secrecy. Silver is used in various components, including high-energy-density batteries and circuit boards.
As Martin Armstrong would allude to
……..today ( and volatile times of war) can have a tendency to dramatically increase the flow of money from one part of the world to another ( Middle East/Asian investors shifting into currencies that may be the least stinky of the lot, i.e. the $US)
Squeeze the dollar and watch the metals get smacked! Algorithms have a field day….
Ipso
Yeah, this is a we’re still in control, statement. For good measure, they’re sending Bitcoin up 5%.
I still don’t see how the price differential with Shanghai gets resolved if Crimex doesn’t have the metal.
No one ever said this was a logical market. Never
Buygold … I think your “sell the news” theory is as correct as anything … of course with some of the usual suspects with their thumb on the scale …
Eight passenger flights took off from Abu Dhabi
at 15.30 Abu Dhabi time. And UAE announced flights two hours later. Both for evacuation purposes, not a return to normality, but you’d have to think that they were fairly confident about lack of incoming missiles or drones to do that. I guess the flight paths avoided Kuwait!
I’ve used these guys for 25 years
wandered to their site to see what premiums were like. There are no prices listed. First time I’ve ever seen that.
Hope they’re still in business. Maybe somebody came in and bought all their inventory. 🙂
Yup – war discount
So much for the Crimex collapse in March, they took care of that when they shut the market down and closed 37K contracts.
So, what does Shanghai do? Do they drop their prices to meet the west’s paper price? That’s been the M.O., but we’ll see.
We were due for a correction anyway.
edit: Just noticed they’re turning the SM back up too. That’s normal for wartime as well.
We certainly live in interesting times !
fulfilling an ancient Chinese curse .
redneckokie1
Good call on Gold/Silver…the chart says we could go back into the 80’s
Morning Buygold
Early days but we have signs that Iran is running low on Missiles….they are no longer launching at anywhere near the same rate……
Would not surprise me if we don’t see a lot of serious reversals by days end……Oil will be the key.
Comes gold spread
Looks like the long gold, short other metals spread is active today. This usually indicates a strong move ahead. Margins are usually less allowing huge positions.
Morning Maddog
This is feeling like a “sell the news” day. Dollar is up a percent and rates back to 4%. Shares slipping. It looks like they’re going to sell the SM open. Oil can go up on this but not a flight to safety with gold.
This is how they’ve always done things on war news before.
There’ still a $14 discrepancy between Crimex and Shanghai, I’m not sure how that gets resolved.
I’m guessing your wave count is right as long as we’re contending with the stronger dollar.
Stan’s Hand
Geiger Capital
@Geiger_Capital
Stan Druckenmiller’s current positions:
– LONG Korea + Japan (+ Brazil)
– LONG Copper (AI + tight supply)
– LONG Gold (geopolitics)
– SHORT Bonds
Portfolio is no longer “AI-driven”. He’s bearish on the Dollar but bullish on the US economy with disinflationary growth.
unobtanium
Bai, Xiaojun
@oriental_ghost
According to the China Finance and Economics Association, due to the rapid rise in the prices, many physical gold sales stores across China have stopped selling investment gold bars, and only craft gold bars are sold at ￥1400/g, equivalent to $6329/oz.
TBD
Rand Group
@cryptorand
·
18h
🛢️ OIL CRISIS IMPACT – Hormuz dependency by country:
🇯🇵 Japan: 72%
🇰🇷 South Korea: 65%
🇮🇳 India: 50%
🇨🇳 China: 50%
🇪🇺 Europe (Avg): 18%
🇺🇸 United States: 2%
Buygold
If they want Gold up, then this is a great excuse….but there is a war premium building….it may not fall too far…..TA, has a possible C wave down to come still….seen better on Silver and Plat…
That we are still around/above Hi’s is great…..the Hi’s no longer look like spike Hi’s.