sPinwheel Posted November 19, 2014 Share Posted November 19, 2014 Holy cow Gold and Silver being murdered today. FOMC minutes aren't out yet, looks like oil dropped significantly. Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted November 19, 2014 Share Posted November 19, 2014 Leveraged guys will burst on this, probably. Says nothing yet to intermediate situation. Quote Link to comment Share on other sites More sharing options...
weaker Posted November 19, 2014 Share Posted November 19, 2014 Holy cow Gold and Silver being murdered today. FOMC minutes aren't out yet, looks like oil dropped significantly. More phyz for the easterners. Can't go on for ever. Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted November 19, 2014 Share Posted November 19, 2014 Want to read something funny: GDXJ gapped up from 27.63 on Monday. Low today...27.63. Yeah, TA is rubbish. Quote Link to comment Share on other sites More sharing options...
sPinwheel Posted November 19, 2014 Share Posted November 19, 2014 What....up sharply. Quote Link to comment Share on other sites More sharing options...
weaker Posted November 19, 2014 Share Posted November 19, 2014 yeah, yeah.. just normal for 1 second of trading on no official news breaking... 10:48:31 - 2270 Gold futures (100 Oz / contract) and 596 Silver futures (5000 Oz per contract) trade in 1 second Quote Link to comment Share on other sites More sharing options...
weaker Posted November 19, 2014 Share Posted November 19, 2014 (edited) What....up sharply. Throwing off the momo traders? Someone with deep pockets has had enough? Edited November 19, 2014 by weaker Quote Link to comment Share on other sites More sharing options...
sPinwheel Posted November 19, 2014 Share Posted November 19, 2014 (edited) So apparently a new Swiss Poll shows less support for 'Save Our Gold'. If a pre-vote poll caused this knee jerk reaction, imagine the effect the result would have. Edited November 19, 2014 by sPinwheel Quote Link to comment Share on other sites More sharing options...
weaker Posted November 19, 2014 Share Posted November 19, 2014 So apparently a new Swiss Poll shows less support for 'Save Our Gold'. If a pre-vote poll caused this knee jerk reaction, imagine the effect the result would have. Very much doubt a NO will have any effect; that is already priced in imo. The banksters have the foreknowledge that they will reduce their Balance Sheet by nefarious means even if there is a YES, so that they don't have to purchase the 1700 tonnes to fulfil the 20% backing in the referendum. Quote Link to comment Share on other sites More sharing options...
sPinwheel Posted November 19, 2014 Share Posted November 19, 2014 I'm not sure its priced in imo, but time will tell. I think we will see more volatility up to next weekend. There will definitely be a knee jerk reaction, I'm sure of that, even if it settles down eventually. Meanwhile gold looks to be nearing $1180 again, it willxbe interesting to see if it closes below. Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted November 20, 2014 Share Posted November 20, 2014 1180 is clearly the major support. Its been taken out then retaken and now that's where we are. Price will determine direction. Indications are rally in making. Huge bearishness = wall of worry. Quote Link to comment Share on other sites More sharing options...
weaker Posted November 20, 2014 Share Posted November 20, 2014 (edited) Note -- this is only EXPORTS FROM SWITZERLAND. - Totalling basically the entire world's production of gold for Sept. and Oct. Tick......tock....... LONDON, Nov 20 (Reuters) – Switzerland's gold exports rose by more than 12 percent in October as shipments to major consumers India and China surged, data from the Swiss customs bureau showed on Thursday. Gold exports to India from Switzerland, a major refining and trading centre for precious metals, leapt 28 percent to 75.1 tonnes last month, the data showed. Shipments to China, which last year was the top gold consumer, more than tripled to 42.5 tonnes, while exports to Hong Kong held steady at around 25 tonnes. Exports to Singapore and Thailand fell sharply and shipments to Germany and Turkey also declined. Overall Swiss exports of gold <XAU=> rose to 192.8 tonnes from 171.1 tonnes in September, the data showed.Leading Destinations For Swiss Gold Exports Oct exports (kg) Sept exports (kg) India 75,078 58,472 China 42,500 13,000 Hong Kong 25,704 24,709 Singapore 9,068 20,884 Germany 5,943 7,707 Turkey 5,350 7,900 Thailand 4,766 11,282 Others 24,375 27,106 TOTAL 192,783 171,059 Edited November 20, 2014 by weaker Quote Link to comment Share on other sites More sharing options...
pipllman Posted November 20, 2014 Share Posted November 20, 2014 without the corresponding import figures, it doesn't really make a conclusive case In Jan 2014 for instance, imports were greater than exports http://www.news.admin.ch/NSBSubscriber/message/attachments/33844.pdf You can get the very detailed statistics (in English) from here http://www.ezv.admin.ch/themen/04096/04101/05233/05672/index.html?lang=en Quote Link to comment Share on other sites More sharing options...
weaker Posted November 20, 2014 Share Posted November 20, 2014 without the corresponding import figures, it doesn't really make a conclusive case In Jan 2014 for instance, imports were greater than exports http://www.news.admin.ch/NSBSubscriber/message/attachments/33844.pdf You can get the very detailed statistics (in English) from here http://www.ezv.admin.ch/themen/04096/04101/05233/05672/index.html?lang=en Nah, I think you are missing my point - the gold going to India and China is physical (not 'paper'), and will not come back into the banker's system. tick...tock... Quote Link to comment Share on other sites More sharing options...
pipllman Posted November 20, 2014 Share Posted November 20, 2014 perhaps it won't and the flow is significant - you are right about that I am surprised Russia doesn't appear on the list higher up too Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted November 20, 2014 Share Posted November 20, 2014 Been a huge amount of volume on GDX, GDXJ, SLV, etc, in the past week or so. Quote Link to comment Share on other sites More sharing options...
weaker Posted November 20, 2014 Share Posted November 20, 2014 (edited) perhaps it won't and the flow is significant - you are right about that I am surprised Russia doesn't appear on the list higher up too Well, to my knowledge, modern Chinese bars don't come up for sale in 1Kg+ form (ever seen one?) I have a few pandas, but... Also, in case we were forgetting - it is still possible to sell short Spot Gold, and buy DEC or JAN futures and make 15c/ Oz / month (or thereabouts) by NOT holding gold until DEC or JAN. This is indicative of a shortage of readily available metal. If someone had it, they would arb. Edited November 20, 2014 by weaker Quote Link to comment Share on other sites More sharing options...
pipllman Posted November 20, 2014 Share Posted November 20, 2014 (edited) and yet, despite this easily available information and your logical deductions, the collective wisdom of the market prices gold at $1193 and trending down why? Edited November 20, 2014 by pipllman Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted November 20, 2014 Share Posted November 20, 2014 (edited) Well the trend has been down from 2011 to a year ago. The recent fall is yet to be proved that it is a continuation of the downtrend or a shake out of weak longs and a bear trap. Has the trend changed? On verra. Edited November 20, 2014 by Killer Bunny Quote Link to comment Share on other sites More sharing options...
weaker Posted November 20, 2014 Share Posted November 20, 2014 and yet, despite this easily available information and your logical deductions, the collective wisdom of the market prices gold at $1193 and trending down why? My view: because most folks want exposure to the gold price, and not gold itself. See my quote below - the pricing mechanism for gold is completely devoid of any relationship to the actual metal. Really. In my view too. these folks are "the dumbst of the dumb" - and I don't want them on the gold train! They are buying (selling) gold because its price changes. that's it. What these folks do not get (with 'exposure to the gold price') is anything tangible in the event of an unforseen event - e.g. currency crisis, exchange contrls, banking meltdown, war (and i mean the kind of war you have to up-and-leave-home) etc. Arguably these reasons are WHY you should own gold in the first place -- so, at best, most western folks are buying exposure to something they will ever reap the insurance value from. Easterners differ in this respect, and will continue to accumulate until that paradigm shift does occur. ANOTHER 11/17/98: "It is the "practical understanding" that our modern world must use a "digital paper money" for commerce. All accept this. However, without a "gold currency" priced daily in the "free market", and used as real reserves, any "world reserve currency" would expand using "debt only" as the tool. This result brings the eventual reckoning for all users. The "host country" finds all other nations supporting its "lifestyle", even as those country's private financial infrastructure is destroyed. It is the rising US equity markets and falling inflation that so indicates the last days of the dollar! Many say this is a sign of strength for America, yet they know not what time of life the dollar has attained. The "old man" has he become even as persons place their financial horse upon his shoulders. The world debt structure of this "old man" is such that the true pricing of gold in a new currency, will bring such a weight as it will end his life! The purpose of the evolution in "paper gold trade" is offered in many reasons. At first, it was the "deception" to hide the "life age" of the dollar. Much as your Hollywood actors obtain the "facelift", yes? This "deception"(low gold price in US$), to the surprise of many, was created by the "Euro makers" not the "dollar makers". To their advantage, world traders and dollar investors were greatly fooled and, as you say, "jumped on band wagon" to help sell paper gold down! This action did prolong life of dollar as was needed, for the Euro was taking much time to complete… Quote Link to comment Share on other sites More sharing options...
pipllman Posted November 20, 2014 Share Posted November 20, 2014 I don't strongly disagree with anything that you have written there But I expect the paradigm shift that you mention, if it ever comes, to be very clearly signalled in the price action of gold (and linked instruments) well in advance. I might be surprised and that not happen, but similarly, hoarders of gold at 1200+ could wait a long time before they are in front. And, of course, if the situation you find yourself in means that you have to resort to physical gold as an actual trading token, how thirsty would you / your kids need to be for a bottle of water from a heavily armed water seller to cost more than you could afford? Quote Link to comment Share on other sites More sharing options...
crashmonitor Posted November 20, 2014 Share Posted November 20, 2014 Equities looking very weak today, worst fall since Ebolageddon last month. Can imagine gold taking advantage, as it has so far today. Quote Link to comment Share on other sites More sharing options...
weaker Posted November 20, 2014 Share Posted November 20, 2014 (edited) I don't strongly disagree with anything that you have written there But I expect the paradigm shift that you mention, if it ever comes, to be very clearly signalled in the price action of gold (and linked instruments) well in advance. I might be surprised and that not happen, but similarly, hoarders of gold at 1200+ could wait a long time before they are in front. And, of course, if the situation you find yourself in means that you have to resort to physical gold as an actual trading token, how thirsty would you / your kids need to be for a bottle of water from a heavily armed water seller to cost more than you could afford? The only signal you might get could be an immediate need for spot gold, over the futures. This is happening to a small degree as of now. From there, does it move to no gold for sale (at these prices)? We'll not know, as long as paper is supplied in lieu of gold (and people accept it)! Regards situations you find yourself in, no, I am not advocating using gold for food/water! I'm advocating using gold for the preservation of wealth until you get to safety where that wealth can be employed. Countless people have "made it over the fence" with what they can carry; and if they were lucky a few kilos of gold would set them up wherever it was that they landed. Edited November 20, 2014 by weaker Quote Link to comment Share on other sites More sharing options...
Erewhon Posted November 20, 2014 Share Posted November 20, 2014 http://www.hsgac.senate.gov/subcommittees/investigations/hearings/wall-street-bank-involvement-with-physical-commodities-day-one This provides useful insight into how Goldman justifies their "manipulation" of physical commodities. Quote Link to comment Share on other sites More sharing options...
R K Posted November 20, 2014 Share Posted November 20, 2014 Price falling top left to bottom right = bear market Not sure whats so bleedin complicated about that. http://stockcharts.com/h-sc/ui?s=$GOLD&p=W&yr=3&mn=0&dy=0&id=p10285657302 The rest is all just narrative garbage. Quote Link to comment Share on other sites More sharing options...
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