I’m no fan of gold, but a swing of $10-11 over three days on a $1610 price doesn’t signal anything.
If you’re holding physical metal, none of this means much, especially if you’ve been buying over the last several years.
If your money is into ETF’s or futures, that could be a different story.
For most of us, this don’t mean sh!t.
I was in Odessa Ukraine when the banks closed for a few days. No ATM’s, no debit or credit cards. Nothing but cash. Hirivna, Dollars,Euro,Pounds or Swiss francs....paper money!! .And the local cops enforced legal tender laws. As long as police and military are paid in Paper Euros that will be where the scared money goes. The Europeans know their history.
Until the FED stops flooding the economy with dollars and the inflation is stopped and we go into deflation gold will continue to rise. There is lots of manipulation to harvest funds from individual investors.
Yeah, in a world where Cypriot banks confiscate deposits and the Fed pumps and dumps paper via QE whatever, those people holding real, metal money are just crying in their beer.
I'll be buying another 40 oz of Silver next week - assuming that the paper currency system lasts that long.
It probably will - but one week I'll look and no-one will be accepting paper currency any more.
In prior downdrafts, gold and silver would exhibit forced-margin-liquidation selloffs. That they are not doing that is IMO a bullish sign. IMO gold/silver could lose a little more, but you have to have serious patience with these things. And I agree completely, single digit moves on a $1600 item are sub-noise.
Don’t feel sorry for the bulls!
I’d love if gold would drop to half price- what a buying opportunity!
meanwhile Ima check out silver!
Oh please. I bought silver a few years back at $12. Don’t feel sorry for me.
Good for Joe, hope he’s long paper and doesn’t cry about it when the cows come home to roost... :-)
Nailed the low print on SLV today 27.38.
I’m not a big fan of the etfs but as long as the metals are trading in these tiny ranges, ain’t no other way to *trade*. To accumulate, my reco is to assume the metals are smarter than you are and add smallish amounts on dips.
Blam, the sarc tag, there for a reason.
Money pourin’ out of the EU, and in to US, Can, and UK (among others).
Strong $ makes AU/AG LOOK doldrumatic.
Ya need to have the heavy variety.
Ammunition is the commodity to be in.
When it comes to newspapers - never pick a fight with them. They buy ink by the barrel.
When it comes to central banks - never assume they can’t overissue the paper money. They too buy ink by the barrel.