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Goldman Sachs chief lawyer is toast - continuing the rout at the top of their crime chain.
I do wonder if their recent purchase of the Perth Mint Gold ETF has anything to do with this rout.
https://www.etfstrategy.com/goldman-sachs-completes-acquisition-of-physical-gold-etf-aaau-perth-mint-384954/
Today 08:45
Well worth a read. Fascinating
https://www.adamseconomics.com/post/the-silver-market-fast-approaches-breaking-point
Here we go down again, what a move since yesterday morn
Sadly I think the opposite,
Time to load up here IMO
I'd have thought commodity inflation as a result of demand supply pressures will remain constant because of China and any price shocks will be bought up. I can't get my head around the size of these market pressures but if the economy is generally rebounding and the global economy comes roaring back I agree it should be good for all metals. I like BMN's outfit in S. Africa but vanadium hasn't jumped much in the past year. Soon fingers crossed! :)
Really any or all as so hard to predict where prices will be when we start producing, and of course if Chines thwack prices down to deter anyone else coming into the market
Besides Cobalt which ones are you most excited about Sotolo?
Interesting that while gold has fallen 20% since Aug rare earths have doubled, increasing profitability from mining them hugely. I wonder if our share price is yet taking any account of this
you re right. This share is driving me crazy. It is active as a dead duck.
Morning.
That reddit WallStreetSilver billboard campaign has now raised an amazing $73k (CAD)!
Big week this week, Fed jawboning all week.
The dollar surged Friday, riding on the coattails of the recent surge U.S. Treasury yields amid bets the U.S. will emerge from the crisis stronger than its peers, but the greenback's momentum is unlikely to last, experts warn.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose 0.87% to 90.91.
Expectations the U.S. economy is likely to emerge from the crisis "better and faster than many other economies" has pushed inflation expectations and the 10-year U.S. Treasury yield sharply higher recently, sparking a move higher in the dollar, Commerzbank (DE:CBKG) said.
Data on Friday, however, showed that fears of runaway inflation could be misplaced as the personal consumption expenditures (PCE) price index, the Federal Reserve preferred measure of inflation, showed price pressures were tepid last month. In the 12 months through January, the PCE price index increased 1.5% from 1.4% in December.
But with another round of fiscal stimulus expected to come, and the Federal Reserve seemingly content to continue its pace of the bond purchases and near-zero interest rates, investors are pricing a further run-up in inflation that could boost prices.
"A round of updates on the US consumer’s financial position offered a glimpse toward what lies ahead in the form of a strong consumer-led rebound driven by massive fiscal stimulus. In the process, evidence of inflationary pressure may well be upon us already," Scotia Economics said.
Others, however, don't expect inflation and the knock-on uptick in the dollar to sustain their run higher.
"For the second half of the year, we expect inflation expectations and bond yields to fall again somewhat. Then the dollar, which is still benefiting from rising US bond yields, should weaken again," Commerzbank added.
Also Friday the Reserve Bank of Australia (RBA) was forced to intervene to act against rising yields. The BOJ didn’t act on Friday, but Finance Minister Taro Aso fired a warning shot as the benchmark yield surged to within a couple of basis points of the perceived limit of the central bank.
“It’s important that yields don’t suddenly jump up and down,” said Mr. Aso in Tokyo. “We need to make sure not to lose the market’s trust with fiscal management.”
US yields have risen in anticipation of early monetary tightening which goes against what the Federal Reserve have signalled so it will be interesting if the Fed push back against rising yields.
https://www.investing.com/news/forex-news/as-king-dollar-surges-on-us-yield-run-experts-say-move-unlikely-to-last-2432013
Blimey, nearly $50k (CAD) raised in less than two days for a #SilverSqueeze billboard marketing blitz.
https://www.gofundme.com/f/silver-squeeze
$1.9T stimmy bill passed last night at 2am lol
Boy did they want to get that one over the line this weekend ...
A sign of things to come perhaps - other miners considering doing the same thing:
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I'm with bonker99 on this one, although I think timescale of a turnaround will be over months rather than weeks and it will get more volatile. Yields are rising in anticipation of inflation coming soon (which I feel is misjudged but that's besides the point)..
It's about "the perception of inflation not necessarily the reality". Markets are pricing in a significant rise in inflation over the next couple of quarters and rising yields are bad for stocks, borrowing costs and mortgage lenders. It's a signal of the market 'tightening' and so liquidity in risky investments or those with ridiculous sky high valuations (tech, pharmas etc) will be squeezed. I believe we are seeing mass selling of paper positions to cover losses elsewhere which is what happened last year when gold was beaten down to around $1450/oz over a matter of weeks before it jumped 50% to highs of $2090/oz a few months later.
It's ironic that the market is betting AGAINST Fed Head Jerome Powell who just this week was pushing back against the idea that high inflation is coming. In his speech he suggested that broad signs of inflation have not been present in the real world, and that if they do occur any such rises would be "transitory".
Commodity inflation has been rampant, oil is approaching the highest since 2018, copper is at an almost 10-year high etc but this is not the same as consumer inflation. Markets expect consumer inflation will pick up as economic growth returns. In essence this is a problem of the Fed's own making with the market's overconfidence in the recovery being driven by mass stimulus. Imagine feeding a recovering heroine addict sugar puffs swimming in morphine. No wonder they are on a high!
The reason gold should hold value is that stocks have nowhere left to go but down, especially if markets are confused or undecided about where inflation and rates are headed. Small shifts in yields could cause tech investors in particular to take profits and because the Fed are against raising rates (regardless of short term inflation) gold and silver will once again draw new buyers, especially if cryptocurrencies tumble.
Yields are dropping tonight - suggestion that YCC has already been deployed - shock.
As soon as they set the $1.9t stimmy vote for today you just knew it was a setup with "banks" conspiring to send yields soaring for a few days ahead of it to dump Gold for another/final load-up of physical before big boomage.
I could be wrong but I think next week/month could be spectacular - hopefully the right way - and that move will continue for years.
Can anybody shed some light on just WTF happened today!? Why are US yields rising and the durty dollar strengthing?