METAL PRICE'S FINALLY MAKING SOME SENSE

Mike59

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

CaptHenway

https://www.kitco.com/news/2020-03-24/Gold-futures-prices-soar-over-100-on-London-spot-confusion.html

derryb

JNUG

DoubleEagle59

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.

isaiah58

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.

derryb

@DoubleEagle59 said:
JNUG isn't up too much.

look in the other direction

LukeMarshall

@Mike59 said:
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

You forgot one
Rhodium Ask ---------------------$8,000-----UP-$3,000

logger7

https://youtu.be/C23V1K4hFlA

roadrunner

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.

derryb

@roadrunner said:
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.

derryb

The Gold Market Is Breaking Down

Old news:

Price Of Physical Gold Decouples From Paper Gold

New News:

• a near shut down in supply as the most productive gold refiners, those located in the southern Swiss town of Ticina, namely Valcambi, Pamp and Argor-Heraeus, now appear to be offline indefinitely
• gold futures decoupling and trading far above spot prices
• LMBA admits "there has, however, been some impact on liquidity arising from price volatility in Comex 100-oz futures contracts. LBMA has offered its support to CME Group to facilitate physical delivery in New York and is working closely with Comex and other key stakeholders to ensure the efficient running of the global gold market."

"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."

derryb

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.

MsMorrisine

qe infinity is not pushing stocks higher at this time

coinpalice

not a good time to buy gold now, sellers looking for premiums. glad i don't need to buy

Jinx86

@coinpalice said:
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.

derryb

@MsMorrisine said:
qe infinity is not pushing stocks higher at this time

just the promise of it is at the moment.

please, explain the 2112 point increase in the DOW just today.

Fundamentals? lol

fivecents

@derryb said:

@MsMorrisine said:
qe infinity is not pushing stocks higher at this time

just the promise of it is at the moment.

please, explain the 2112 point increase in the DOW just today.

Fundamentals? lol

Some big stock fund managers had to buy today.

derryb

Had to buy? explain.

Baley

@derryb said:

@roadrunner said:
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.

178% return.

"only" 78% gain. 😉

derryb

you are correct.

roadrunner

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.

derryb

"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.