METAL PRICE'S FINALLY MAKING SOME SENSE
Mike59
Posts: 319 ✭✭✭
Gold Ask ----------------------------$1,674.95 UP- $110.49
Silver Ask-----------------------------$14.10-------UP------$0.74
Platinum Ask----------------------- $691.04 UP---$48.94
Palladium Ask ---------------------$1,995.55-----UP-$257.79
Just waiting for silver to join the move. Might lag due to industrial use.
Stay Safe All,
Mike
MIKE B.
4
Comments
https://www.kitco.com/news/2020-03-24/Gold-futures-prices-soar-over-100-on-London-spot-confusion.html
JNUG
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
JNUG isn't up too much.
It's gold miner's not gold price.
I've been in and out of JNUG for over 4 years now.
I've won and lost some trades, as it is very dangerous to hold for any period of time.
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
If we were to study the PM market, we would observe that despite short term movement, mid to long term always consolidates towards the true physical market.
As future calls are about to close out, we are seeing the paper market make it's typical adjustment.
The pricing has always made sense to me based on historical data.
look in the other direction
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
You forgot one
Rhodium Ask ---------------------$8,000-----UP-$3,000
It's all about what the people want...
JNUG, NUGT changed from 3X to 2X ETF's. They can't handle the volatility. During the peak volatility last week NUGT and JNUG were only moving up 1.2X to 1.5X compared to the underlying GDX and GDXJ. Of course they still managed to go down 3X-6X when the the underlying securities were dropping hard.
yet JNUG moves from a low of $3.32 yesterday to $5.92 as I type this today. 178% gain, 47% better than GDXJ did in the same period. JNUG remains a good play on PM price gains. And yes, as with any leveraged ETF, the losses get magnified as well. Does not detract from JNUG being a great play at the moment.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
The Gold Market Is Breaking Down
Old news:
Price Of Physical Gold Decouples From Paper Gold
New News:
"In short, the unprecedented scramble for physical metal coupled with continued liquidations among levered players, while refiners remain offline, appears to be fracturing the gold market from within."
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
While the hopes and promises of QEver are driving PM prices, they are also pushing equities higher. As equities gain strength, their demand will draw from the unusually high demand that physical metals are currently experience. Be prepared for and not alarmed at a decrease in physical demand and premiums. Supply of physical will be the deciding factor.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
qe infinity is not pushing stocks higher at this time
not a good time to buy gold now, sellers looking for premiums. glad i don't need to buy
Ive sold some "premium" gold bullion lately that has sat otherwise unwanted.
just the promise of it is at the moment.
please, explain the 2112 point increase in the DOW just today.
Fundamentals? lol
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Some big stock fund managers had to buy today.
Had to buy? explain.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
178% return.
"only" 78% gain. 😉
Liberty: Parent of Science & Industry
you are correct.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
By Trading View the past 2 days JNUG increased 78% and GDXJ was 32%. That's a 2.44X net ETF. Since these are still 3X ETFs until May 19th, this is an under-performance of 19%. You take 3X the risk for 2.44X the gain. And they will drop at least 3X on the way down. On the GDX/NUGT side the ratio was 2.60X....the seniors are leading the way since they have the bulk of the reserves and production. You're better off just buying 3X the amount of GDXJ if you want full credit for your 3X risk. And really JNUG and NUGT have become 24-36 hr trading vehicles only.
If we look back the last 6 days, GDXJ has bounced 66% off the lows of the 16th. JNUG is up less at 64%. Not even performing as a 1X ETF following the GDXJ crash low 8 days ago. In months and years past you could hold JNUG for weeks, even months (6 months back in 2016 during a strong up rally with few swings) and see little decay. But this new JNUG and NUGT performance is just abysmal. Now it's one day at a time.
"You take 3X the risk for 2.44X the gain."
Doesn't matter in a rising price market. I'll choose 2.44X the gain over 1X the gain every time.
"You're better off just buying 3X the amount of GDXJ if you want full credit for your 3X risk."
Only if you don't want to put it all in JNUG for the leveraged play.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey