New high close for this move.
Comex silver
High moving average is $28.45 today. The moving averages flattening and open interest declining, are not a good sign. Silver needs to make a new high for the move this week on good volume and increasing open interest.
rno
gold close above $2000 ??
netdania shows spot gold being slammed down to 1998.03 one minute before closing (16:59) but rebounding to $2001.70 at the close (17:00).
kitco shows it closing @ $2000.30
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Re GLD and the BoE
The article raises a big flag…of course if GLD were to publish the list of Bars it has, with their number, we could see what is really going on, but they never will…which just makes the issue even worse, u can never be sure just what GLD has and how is it GLD never has a problem picking up huge tonnages, when everyone else does……
meanwhile the scum have done a major hit on the shares today, the opening hour was such a blatant hit…..all those new buyers will be scratching their heads, as no other mkt ever does anything like that, least of all a normal stock, let alone a FAANG.
@ipsofacto Thanks for the comeback, Re the De-Globalization Situation and collapsing Global Economy
Yes that’s TWO good points you made. Rebels are a problem for outsider miners absorbing Gold in a foreign country, and selling miners is risky in a bull market. Because of rebels I saw years ago FCX is ruined. Look it turned to garbage. It used to be a good one Copper and Gold.
https://finviz.com/quote.ashx?t=fcx&ty=c&ta=0&p=m
De-globalization and reversals are something we have to pay attention to re miners that don’t stay near by, like in Canada USA or Mexico. They are very risky in far off lands where the “natives” are getting smarter. Remember all the foreign born farmers operating in South Africa???
Its like a form of slavery, or oppression of woman, and its ending in more and more once backward countries not so backward anymore with the internet and people rebelling poverty. Like in USA cities.
Global business corporations out for themselves only doing global promiscuous activity. Or arbitrage. Imo that group is “circling their wagons” here in the USA, and group of 30 billionaires supporting Trump before his campaign, and chose him to run. To make America great again, but may have waited too long.
Plus they haven’t got the BALLS and self sacrifice and hurt themselves too much, because the Yuan and US Dollar are still PEGGED. Which means, USA and China are ONE!!! Export team corporation. Lowering the US Dollar to help exports out of USA helps China TOO!!!
All the others get hurt with higher easy import strong money. Look simple arithmetic. Dollar (and Yuan) down, all other go up.
Hey, somebody has to tell these stories. Our shit hole financial Media certainly won’t. Even the widely known gold bug ones we like. I think I should start a new gold bug media company. Nobody in any financial media that I know of including Ron Paul, Sinclair, etc etc don’t think of or says so many things they should say.
Ipso
Hard to know if it pisses them off or they are joining the fray.
Their poster boy Buffett is now out there playing. Maybe he’s the indicator.
PM’s never come back like they have today.
Mr.Copper @ 13:43
One of their mines is in Mali where they’re having some sort of “mutiny-rebelliion.” May be affecting them. Can’t tell you weather or not to sell. Every time I sell something it flies.
@ Are Any Of You Folks Here Riding On Some B2Gold Corp? (BTG)
Its my most profitable one its lower today that most others – 5% and I see some insider selling, going nowhere for two weeks, and tempted to take it out. I’m more than double on it and why get greedy? Any ideas anyone? Can’t decide.
re this:
https://www.marketbeat.com/stocks/TSE/BTO/insider-trades/
I have to go out now be back later. I just looked at NUGT, what a dog, bull times two?? Its going nowhere fast, I’m annoyed I bough some.
@Maddog 12:19 re tour “You will shove it where it needs to go……!!!!!!” there ya go again, making me smile. :)
Re your…”if GLD is getting Gold from them it belongs to someone else already!!!!!”
You forgot something. Widely known.
Possession is nine-tenths of the law is an expression meaning that ownership is easier to maintain if one has possession of something, or difficult to enforce if one does not.
Derived from the early English property system, where the right to possession of property was endorsed by the king in the form of a writ. … These nine writs evolved into the nine original laws defining property ownership, hence the expression “possession is nine points in the law.”
Comment: The gold could get confiscated by govt for the greater good. The holders of paper gold may just be paid in cash.
Maddog
That’s worth saying again! What happens when the music stops? A lotta pain for somebody.
“Re GLD…the BoE is only a custodian, it has no Gold to sell to GLD, so if GLD is getting Gold from them it belongs to someone else already!!!!!”
Buygold @ 12:34
The strength in gold and silver must piss the scum off something fierce! Great strength in the metals lately!
Some pretty serious strength considering the takedown earlier
$2K – No problem.
$27.50 No problem
Shares still struggling a bit, but they did have a big move yesterday. Gotta stay on this horse.
Mr.Copper
Re scum…..u gimme the bomb I will shove it where it needs to go……!!!!!!
Re GLD…the BoE is only a custodian, it has no Gold to sell to GLD, so if GLD is getting Gold from them it belongs to someone else already!!!!!
Again we only recover somewhat….when the SM does
maybe the scum have a problem, as to knock PM’s hard they have to trigger Algo’s that trade off the SM, so they sell PM stox….but which will maybe buy PM’s when the SM rally’s.
re GLD continues to source gold at the Bank of England
This is way too long to read, authors should get to the point quicker. I read just a little, and my bottom line thought is the Banks are HOARDING free and plentiful gold bars, paid for by GLD share buyers.
Why? Because the Fed Note system is worn out. The Dopey/Dollar lost 95% of its purchasing power and a needed reversal to restore high purchasing power for EACH new dollar, a gold backing will need to return.
And they won’t need to confiscate private owned gold. Plus the people will turn it in gladly at $5,000 per ounce and get the new gold backed dollars capable of buying new cars for $1,000 each. And 10 cent coffee, and 5 cent newspapers, and 2 cent stamps.
The future looks great, but forget about the trip to get there first. We are seeing part of that now.
Maddog – makes sense
They sure tried to waterfall us but so far the metals have held off a big slam – surprising. Once silver got rolling downhill I thought it was all over for the day but even silver has regained some upside.
USD still can’t get off the floor in any meaningful way.
Buygold
I think they sell the shares to tip off their mates and for their own book, then when well short, they unload on the metals for the Fed…….they do the Fed trading, so they know the patterns etc.and the scum don’t care at what price anything is done, just that the mkt is weak etc.
Mutiny in Mali?
BAMAKO, Aug 18 (Reuters) – Gunfire was heard on Tuesday at an army base outside Mali’s capital Bamako in what diplomatic and security sources said was a mutiny, though it was not immediately clear how many soldiers were involved. Unconfirmed rumours that the mutineers had arrested President Ibrahim Boubacar Keita swept Bamako, prompting hundreds of anti-government protesters to pour into a central square to celebrate and say it was time for him to resign.
The president’s office could not be reached for comment.
“Yes, mutiny. The military has taken up arms,” a security source said.