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today’s knock down surely was courtesy of uncle scam
Who else sells all at once again? A nice $40 move, you know they’re shaking the cart about now. Goldbugs are an easy target compared to crypto.
When Money Dies (Turkish Lira) pic.twitter.com/9jp7v8Ailj
— Willem Middelkoop (@wmiddelkoop) February 2, 2024
A tough way to make a buck….
To the tables down at Mory’sTo the place where Louie dwellsTo the dear old Temple bar we love so wellSing the Whiffenpoofs assembled with their glasses raised on highAnd the magic of their singing casts it’s spell
Yes, the magic of their singing of the songs we love so well“Shall I Wasting” and “Mavourneen” and the restWe will serenade our Louie while life and voice shall lastThen we’ll pass and be forgotten with the rest
We’re poor little lambs who have lost our wayBaa, baa, baaWe’re little black sheep who have gone astrayBaa, baa, baa
Gentleman songsters off on a spreeDoomed from here to eternityLord have mercy on such as weBaa, baa, baa
Everything
…..is definitely rigged, and will get even more egregious between now and the election in November.
Richard 640 watches open interest of options pretty closely. I’m just thinking that we should see the OI in downside puts start to explode for options expiring in November and farther out.
Mr Copper
It seemed to me most, not all gold stocks are topping from the move from Oct till now. They’d have to breach resistance to trust higher moves. Nevertheless I don’t trust anything they put out on jobs report. The matrix is rigged.
Stock market
I read this:
https://www.zerohedge.com/markets/retirement-savers-are-piling-stocks-good-idea
and today my brokerage house called me to set up an investment meeting. I haven’t heard from them in several years. I hope they and the other houses are not beating the bushes to get the average investor in perhaps to affect the election but more likely to offset the selling that is going on and allow certain players out without tanking the market. Are we at the top? Perhaps another leg up but regardless speaking of minefields.
aurum
added
but perhaps I misjudge them, and they are merely cautioning their clients about elevated risk.
BG
Agreed. The pm stocks are a mine field. But still….
aurum
They stole an election for President …probably multiple times..so ‘stealing’ a jobs report is nothing
so not only are the numbers fixed the Bots are programmed to trade the result they want, with no limit vols…..
Mr. Copper, Maddog
The one thing we absolutely know is the numbers were fudged. They are always fudged to make it seem that the Fed has it right. Always.
Maddog, really glad you did!
Aurum
Yeah, I don’t know. The Money Masters have turned the pm sector into a no-fly zone. Certainly no average player will ever go in, why should they?
The dollar is king. Paper is king. World demand for pm’s is meaningless because the dollar is king and paper markets rule, but I digess.
PM ‘s will never be a viable investment unless and until the money masters want it to be. Period.
Captain Hook and I had a discussion a few months ago about NVDA and how overvalued it supposedly was – a few months ago! It was at $330 at the time. Now it has doubled since then, simply on the notion that the Fed would start to cut rates.
What are we missing here brother?
Gold Down as traders freaked out about the better than anticipated jobs number.
You can see gold got absolutely hammered during the trading session on Friday as traders freaked out about the better than anticipated jobs number. At this point, the bond market is starting to sell off drastically and therefore rates rise and gold falls. That being said, the 50 day EMA underneath should continue to offer support and I think that will be the case going forward.
Ultimately, this is a market that still sees a lot of support down at the $2,000 level. So this will end up being a buying opportunity eventually, at least as soon as all the panic traders get out of the market. The uptrend remains for multiple reasons and although we may have to reprice the idea of rate cuts, the geopolitical issues alone may make gold something you want to own at least in part of your portfolio.
Ultimately, it looks like we’re going to chop around between $2,000 and $2075 in the near term, but if we were to break down below the $1,980 level, that would be extraordinarily negative as it would open up the possibility of completely falling apart. And at that point in time, I would probably consider shorting gold but I don’t really have any interest in trying to get too cute with it.
I’m just going to play the overall market that we have, which at this point in time is range bound with more of an upward proclivity. Furthermore, keep in mind the jobs number coming out hotter than anticipated generally causes a short-term reaction that quite often gets reversed. So I will be watching this for signs of strength and taking advantage of that if and when it shows up.
If we were to break above the $2075 level, it’s likely that this becomes more or less a buy and hold market but right now it looks like everybody is in the process of running their programs and throwing the market around without regard to anything beyond the next two or three minutes.
Comment: How do we know the Jobs report wasn’t fudged on purpose to bash gold, stop gold from breaking thru $2100.
Buygold
Tks for yr comments…very glad to help Ipso out and could not let all those fine posters dissapear into the Web ether………
The massage goes on until they have a happy ending
Inside The Most Ridiculous Jobs Report In Recent History
https://www.zerohedge.com/economics/inside-most-ridiculous-jobs-report-recent-history
Song Remains The Same
Prophets in the bible were persecuted because they were not afraid to preach against sin. They were not loved by the World.
adogsbody
You may be right! 
On a day like this
It is interesting to see which pm stocks are being bought at sale prices. Some are even up at this point, others only down slightly. Those not being bought are ones I will watch closely for an early exit.
aurum
Graddhy
I do not think I have seen a negative post from him re precious metals in the last 10 years. Long termer for sure.
Prefer the Aurum method of trading!
Dog
Maybe not today
Very big picture, #silver is looking fantastic.
And once that upper yellow line is cleared, it will be on its way.
It is holding MA50 + white support line + pink arc,
with a bullish reversal where want to see one.GENERATIONAL opportunity. #gold #investing #trading #strategy pic.twitter.com/lMXjObAWg4
— Graddhy – Commodities TA+Cycles (@graddhybpc) February 1, 2024
Getting closer … 👀 pic.twitter.com/ROp9uth93E
— Wall Street Silver (@WallStreetSilv) February 2, 2024
Scum Report
75% Of House Democrats Voted Against Deporting Criminal Migrants Who Commit Social Security Fraud
Buygold
Good morning BG. It would not surprise me if gold goes on a multi-year run. However it also would not surprise me if there are multi-year corrections even mini bear markets within that longer time frame. So I am setting somewhat modest targets at which I will sell all/most. Probably late summer or so. My investing horizon is short and there is no buy and hold for me.
Enjoying a beautiful sunny morning with an expected high today near 70.
aurum