Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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While I agree with your sentiments about short term gold and solver weakness - one look at the 6month charts tells me that the rise in silver and gold due to interest rate cuts in the States is a strong trend - and whether its because the States keeps cutting due to recession or keeps printing money and eventually tanking the dollar I don't see pattern changing. After all Israel is still pursing its plan which has obvious aims above and beyond the brief in Gaza and the world keeps turning against Israel and its allies - namely the US - and a sensible short term solution to the Iran crisis doesn't make that go away.
Not even started.
Earlier zero hedge articles I put on here were correct. Shanghai Chinese Future Options market in gold was capped over the weekend. We have seen today heavy selling in both gold and silver options. Likely to have heavy selling as we go through the week. $2300 gold unlikely to hold. Evidence of selling in the options market appears to have been taking place since 16th April. Gold rally for the time being is over and seriously over in silver.
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LTH's do you have any doubts the smart money has all but left ?
What have the institutions been advised that retail investors have not?
Perhaps the EMRA is claiming some large amount in back payments - perhaps the open pit resources are about to be discounted - perhaps the CBE accounts receivable owing is in jeopardy - perhaps the cost to build Doropo will be prohibitive - perhaps all this and more
My point is not basic understanding of the VIX, it is that is doesn't help retail trading as is milliseconds behind so pointless.
It simply mirrors volatility, down when stock go up and vice versa.
I traded the VIX a while on CFD, but found it impossible to predict with any degree and way too fast moving to not get burned, and couldn't find reasonably predictable data point and markers, with a long enough second timeframe to trade on. It's basically a gamble with 50/50 odds, so no good to me, I need the tables to be in my favour.
I prefer the stock game, and use all my markers and data points developed over time, many of which I've shared here over the years and proved success.
SJ - vix - nicknamed fear gauge because when the markets drop the longs hang on but the shorts buy so the spread increases - wasn't designed to work that way - just does. Sometimes gold ignores the vix like with increasing interest rates but if it's something like war - gold goes up. At the moment a rising vix ties in with rising fear and rising gold. It's coming down because Isreal rather surprisingly did the sensible thing and blew up one anti aircraft position with one missile to draw the latest match with Iran' 1000 missile damage count (it leads the series about 101-1 anyway ). I think that's fair enough - power and restraint for a change.
Continuation ----consesus in general for gold is higher,depending of course on what the bullion buyers see .
Buyers ,governments in general, control the price of gold, by supply and demand,
Now is the start of a quiet season for gold, unless there is another black swan event.
Those black swans these days seem to be breeding.
Today could be profit taking or as they like to say consolidation, by the end of the week,which is a long time in new events,it will be more clear, the cons
And vix back down-
Just measure volatility - not sure of relevance to CEY. Typically use stocks rise, vix falls and vice versa. Not a valuable indicator, like gold price for example- other divers drive gold.
Mr Gibbs - heads up - vix rising last half hour - stand by for action tomorrow maybe..
Hi 3bear,
One of the problems is that the people have been conditioned to believe that the banks have integrity and are run by upright trustworthy people who know what they are doing and act in the best interests of society as a whole, big mistake!
It's just like those that believe that stock market is properly regulated on an equal basis across the board and that no one institution or organisation is given an advantage over anyone else!
Debtocracy, a (not very) new colonial tactic
The principles behind the Israel government’s proposal – to offer debt cancellation in exchange for political favours – are not new. Sadly, this is an example of a practice frequently used by the rich countries of the Global North in a world characterised by neo-colonial financial power structures. This means that the impoverished countries which take out loans with the Global North and multilateral financial institutions (such as the IMF, World Bank etc.) are still largely identical to the ex-colonies. This means that debt is not merely a financial issue but can also be used as a tool of oppression and extortion: the creditor is able to wield power over the debtor, influencing their political decisions.
https://progressive.international/wire/2024-02-02-israels-latest-weapon-against-palestine-is-egypts-debt/en
Gold down $62 an ounce and unsure how this can hold up for much longer. Perhaps awaiting US open. Looks like options market are not taking physical gold deliveries.
Tibbs you are correct. Borrow 100k from any bank and they don't actually have the money they send you, they create it out of nothing. Literally type numbers in a computer and send it to you. 80% of money is created in this way. This is why we are living in an inflationary environment. Readers of this post may not believe me. Fair enough it's counter-intuitive. But perhaps you'll believe the Bank of England?
https://www.bankofengland.co.uk/explainers/how-is-money-created#:~:text=So%20essentially%2C%20banks%20create%20money,transfer%20money%20back%20and%20forth.
Correct Mr Gnome!
The big banks create money on a screen out of nothing and then they lend it on high interest to third world countries likely to buy arms and luxuries for those countries rulers!
The usual Monday morning POG fix!
Giant investment companies are taking over the financial system. OH WELL NOTHING NEW HERE !!!!
Top firms now control sums rivaling the economies of many large countries, AND WHO WORRIES ABOUT THE DEVELOPING COUNTRIES... UNTIL THERE IS A REVOLUTION...OR SOMETHING LIKE THIS..AND THEN WE CAN SELL NEWS PAPERS ETC LOL. They are pushing into new business areas, blurring the lines that define who does what on Wall Street (I ALWAYS THOUGHT IT WAS ONLY MARGINALLY SHORT OF A FREE FOR ALL !!??) and nudging once-dominant banks toward the sidelines.
Today, traditional and alternative asset managers control twice as many assets as U.S. banks, giving them increasing control over the purse strings of the U.S. economy. .. AND THE MINDS OF THE POLITICIANS WHO SERVE THE SYSTEM ... NOTHING STRONG HERE OF COURSE ... EXCEPT WE MUST TALK ABOUT DONALD ...
The firms—such as Blackstone, Franklin Templeton, BlackRock are becoming more complex and more similar to one another all at once. Investors say this creates risks that markets have never encountered before. AND OF COURSE THE Y ARE ALL USING SOPHISTICATED AI, LOL...AND THEY USE THE SAME ALGORITHMS AND ON THE SHOW GOES...LOL
GOLD is such a simple soul ....
best
the Gold Gnome
Yes thank you for the link, very interesting and optimistic, of course they are gold salesman and bulls, what we need to see is non goldies converted. And Tibbs timing is all as we can all be right years wrong, the question is whether they were just 4 years early in 2020 or more. Is this the real bull market or will that be later.
Looks like it's risk on this morning in the markets
Usual junk getting a bid. Commodities down.
A retreat in gold and silver is necessary. Very rarely do things go up in straight lines and go slightly parabolic. The rally has created future confidence in gold and silver and that will likely play through later in 2024. New highs are in place to broken at some future date.
Most major stock indexes in Europe traded higher in the premarket on Monday as investors braced for a busy week of economic data releases. On the agenda, today, are the euro area consumer confidence and the Deutsche Bundesbank (Buba) monthly report.
Germany's DAX gained 0.09%, and the British FTSE 100 was up 1.05% at the same time. The Euro Stoxx 50 added 0.16%. The CAC 40 was flat. The euro was up 0.08% against the dollar at 8:17 am CET, selling for 1.06652. The pound traded 0.10% above the greenback and went for 1.23833 concurrently.
Baha Breaking News (BBN) / RR
Happy Monday y’al
Gold currently $2365.04
Maybe - just not today... Copper may do well today. Gold needs a bit of fear in the air.
The Fed’s historic and unlimited stimulus to do ‘whatever it takes’ to replace collapsing aggregate demand will unleash the Great Commodity Bull Market of the 2020’s led by gold….and send gold over US$3,000 per ounce before the end of 2021.”
Only 4 years too early. Hopefully wiser.
So, in April 2024, is gold the “real thing?
https://miningnetwork.co.uk/gold-the-real-thing-meet-the-fortune-tellers-april-17th/
Hi 9Billion,
Thank you for posting this info, also very interesting s the resurgence of Tin mining in Cornwall ahich was halted in the 1990's due to the world market price collapse, not a shortage of high grade tin!
Cornish Metals Inc. engages in the acquisition, evaluation, exploration, and development of mineral properties in the United Kingdom. The company primarily explores for tin, tungsten, zinc, silver, nickel, lithium, and copper deposits. Its flagship projects are the South Crofty project comprising an underground mine permission area that covers 1,490 hectares located in the Central Mining District of Cornwall, the United Kingdom; and the United Downs exploration project located within the historic Gwennap copper and tin mining district in Cornwall, the United Kingdom. The company was formerly known as Strongbow Exploration Inc. and changed its name to Cornish Metals Inc. in July 2020. Cornish Metals Inc. was incorporated in 2004 and is based in Vancouver, Canada
https://miningnetwork.co.uk/cornish-metals-europes-primary-source-of-tin-by-2026-site-visit/
https://cornishmetals.com/investors/corporate-video/
Thanks 9billion, Thats an interesting group of people, with some very long experiences and good observations on the monetary system and markets. There are some strange things happening, but when you put them into perspective and understand how the "system": works, its not so strange. I think gold is looking very good, silver as well...and I think gold should cruise past $3,000 .but then again I am biased?
Take your positions ladies and gentlemen, seatbelts on ...
regards
the Gnome
Great gold webinar here www.metallic.media and scroll down, features Eric Sprott, Pierre Lassonde, Michael Oliver, Luke Gromen and Ned Naylor-Leyland. Hosted by Simon Catt. They have some interesting gold price forecasts!!