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Gold up $72 ???

CaptHenwayCaptHenway Posts: 32,818 ✭✭✭✭✭

I do not know if this is just a bad tick in a thin, closed market, but this is showing Gold Futures up some $72 at $1,752.80.

https://money.cnn.com/data/markets/

Caution is advised.

Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.

Comments

  • koynekwestkoynekwest Posts: 10,048 ✭✭✭✭✭

    It shows gold is up $4.36. I don't think it was $1748.44 yesterday, was it? If not then someone's math is off a little bit.

  • CaptHenwayCaptHenway Posts: 32,818 ✭✭✭✭✭

    That's up 4.36%, not dollars. Look further down the page.

    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • cladkingcladking Posts: 28,750 ✭✭✭✭✭
    edited April 10, 2020 1:44PM

    June futures were up $68.50

    It's someone playing games with the markets. They're rigged.

    Kitco reports spot gold up a little over $39.

    tempus fugit extra philosophiam.
  • JimnightJimnight Posts: 10,846 ✭✭✭✭✭

    :)

  • MFeldMFeld Posts: 15,009 ✭✭✭✭✭
    edited April 10, 2020 2:09PM

    I’m sure others can explain it far better than I can. However, recently, there has been confusion regarding the price of gold, due to uncharacteristic differences between the “spot” price and the active (June) “futures” contract.

    See here: https://www.kitco.com/news/2020-04-09/Spread-in-gold-and-silver-is-a-market-confidence-issue-Sprott-Money.html

    Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.

  • CaptHenwayCaptHenway Posts: 32,818 ✭✭✭✭✭

    @cladking said:
    June futures were up $68.50

    It's someone playing games with the markets. They're rigged.

    Kitco reports spot gold up a little over $39.

    That $39 increase was on Thursday, with a close around $1685. THis Futures Market rise to $1752 something is after that.

    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • MFeldMFeld Posts: 15,009 ✭✭✭✭✭

    @CaptHenway said:

    @cladking said:
    June futures were up $68.50

    It's someone playing games with the markets. They're rigged.

    Kitco reports spot gold up a little over $39.

    That $39 increase was on Thursday, with a close around $1685. THis Futures Market rise to $1752 something is after that.

    I don’t think it was “after that”. See the link I posted in the post above yours.

    Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.

  • cladkingcladking Posts: 28,750 ✭✭✭✭✭

    https://forums.collectors.com/discussion/1035760/ted-butler-alleges-false-flag-from-jpm#latest

    Actually it's the tail wagging since JPM has acquired markets now.

    tempus fugit extra philosophiam.
  • CaptHenwayCaptHenway Posts: 32,818 ✭✭✭✭✭

    @MFeld said:

    @CaptHenway said:

    @cladking said:
    June futures were up $68.50

    It's someone playing games with the markets. They're rigged.

    Kitco reports spot gold up a little over $39.

    That $39 increase was on Thursday, with a close around $1685. THis Futures Market rise to $1752 something is after that.

    I don’t think it was “after that”. See the link I posted in the post above yours.

    The only thing I know for sure is the old adage:

    "If you sit down at the poker table, and you look around the table to see who the sucker is, and you cannot identify the sucker, YOU are the sucker."

    That is pretty much how I view Futures markets.

    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • Inspired70Inspired70 Posts: 636 ✭✭✭✭✭

    Gold breaking out on a reverse head & shoulders formation.

  • jkrkjkrk Posts: 996 ✭✭✭✭✭

    I covered one short June contract for $1736 on Friday. I wasn't happy but you need to do what you need to do. The future was selling at a $45 premium to spot so I paid a very high price. I was a victim of murphy's law. I rolled another June contract into December for even money. Thus I am giving the buyer an interest free loan for 6 months. I'm just too uncertain about the market players ability to obtain supplies as the contracts roll off the board.
    Will the virus have a continuing effect on production over the next year?

  • Inspired70Inspired70 Posts: 636 ✭✭✭✭✭

    You don't want to be short gold here. That will not be a kind trade.

  • cladkingcladking Posts: 28,750 ✭✭✭✭✭

    @jkrk said:
    I covered one short June contract for $1736 on Friday. I wasn't happy but you need to do what you need to do. The future was selling at a $45 premium to spot so I paid a very high price. I was a victim of murphy's law. I rolled another June contract into December for even money. Thus I am giving the buyer an interest free loan for 6 months. I'm just too uncertain about the market players ability to obtain supplies as the contracts roll off the board.
    Will the virus have a continuing effect on production over the next year?

    Gold production will be significantly decreased even if price goes higher. Silver production will be devastated no matter what the price does.

    tempus fugit extra philosophiam.
  • jmlanzafjmlanzaf Posts: 36,933 ✭✭✭✭✭

    @1peter1223 said:

    Apmex and JMbullion have spot at $1,704.60 .

    Spot is not the same as the futures

    All comments reflect the opinion of the author, evn when irrefutably accurate.

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    @CaptHenway .... Great poker advice ;) I usually prefer to identify two before I join... :D Cheers, RickO

  • cladkingcladking Posts: 28,750 ✭✭✭✭✭

    @ricko said:
    @CaptHenway .... Great poker advice ;) I usually prefer to identify two before I join... :D Cheers, RickO

    I have no poker face whatsoever. So I had to learn to lie with body language. The trick is to mix in just enough truth that they don't know if they're coming or going. Never show your hand unless you have to and always count their money at the table because it's demoralizing.

    B)

    tempus fugit extra philosophiam.
  • dcarrdcarr Posts: 9,162 ✭✭✭✭✭

    @CaptHenway said:
    "If you sit down at the poker table, and you look around the table to see who the sucker is, and you cannot identify the sucker, YOU are the sucker."

    I've heard that quote before, in a simpler version:

    "If you can't spot the sucker at the poker table, then you're it".

  • JimnightJimnight Posts: 10,846 ✭✭✭✭✭

    It don't mean nothing.

  • mustangmanbobmustangmanbob Posts: 1,890 ✭✭✭✭✭

    @Inspired70 said:
    Gold breaking out on a reverse head & shoulders formation.

    Is this Football or a Shampoo commercial?

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