Gold just shot up!!! $70.00 in 6 hours!! $1970.00 at time of writing...

0ronron

Where is it gonna go from here???
Platinum and Palladium are cruising up just as well..

VanHalen

Glad I filled up my gas tank Tuesday. Saved $9 vs filling up today!

JimTyler

Don’t put on your party hat 🥳 yet

LukeMarshall

Somebody didnt like that

rte592

O sure the newbie kills the silver buzz.
Way to go newbe

Just jerking your chain...
WELCOME to the party.

OnlyGoldIsMoney

@VanHalen said:
Glad I filled up my gas tank Tuesday. Saved $9 vs filling up today!

Time for me to buy some more "I did that" stickers for my local gas pumps.

ricko

There will continue to be ups and downs, however, it will stay in the new neighborhood until the European situation changes and inflation is contained/lowered. Major developments in Europe could send gold over 2K.... Cheers, RickO

OnlyGoldIsMoney

@JimTyler said:
Don’t put on your party hat 🥳 yet

Agreed. Expect gold to go into the red by the end of today's trading.

OnlyGoldIsMoney

I did not need to wait till the end of the trading day to see gold in the red. Down $20 as I write.

johnny9434

It settled down for now, we shall see

0ronron

That was a quick ride up and DOWN....

ricko

I expect we will see a few more of these cycles over the next week or so... Plus, we have mega inflation to deal with.... Will be interesting for a while.... Cheers, RickO

leAgrenard

It's frustrating watching the Quashing. Every time it appears silver is poised to break $25 and has a modicum of momentum or gold is going up_ for real_, the quashing hammer comes smashing down. As a true believer and good acolyte I continue to 'keep the faith" 'cause I know with all the horseshite there's a pony in there somewhere. :-)

taxmad

Here we go again...

PerryHall

@taxmad said:
Here we go again...

Yup. It's Monday morning in Asia so gold trading has started for the week. If peace breaks out and Biden gets inflation under control, gold will start falling back to the 1800's or even lower.

MilesWaits

Palladium-on another tear.

jmski52

I just read that anything connected to Russian bonds or other Russian assets has beaucoup counterparty risk. That being the case, any connections of those investments to leveraged (derivative) investments is likely to precipitate another "Lehman moment" in the good old banking system cartel.

Gee, unless the Fed creates enough additional free money to cover the losers, again. And again. And again.

Continued liquidity problems expected. Got PMs?

OnlyGoldIsMoney

Gold will be back into the red for the day by days end. Up in Asia-Europe and beat down in New York.

coinpalice

gold stocks are manipulated during u.s. trading hours

tincup

With the stock market tanking... there may be some gold selling to cover losses. Thus driving the price down. B

Higashiyama

Normally in a geopolitical crisis, you'd expect gold to rise, but in this case, the Russians will likely be big time sellers. Much of this may not hit the open market, however, as the Chinese may be the biggest buyers.

cohodk

@Higashiyama said:
Normally in a geopolitical crisis, you'd expect gold to rise, but in this case, the Russians will likely be big time sellers. Much of this may not hit the open market, however, as the Chinese may be the biggest buyers.

Agreed. Only question is how much will be the discount.

element159

@Higashiyama said:
Normally in a geopolitical crisis, you'd expect gold to rise, but in this case, the Russians will likely be big time sellers. Much of this may not hit the open market, however, as the Chinese may be the biggest buyers.

This will probably be gold's biggest monetary finance use since the gold standard was dropped, assuming Russia must sell gold to compensate for being cutoff. Gold may be called on for real!!

meluaufeet

@Higashiyama but in this case, the Russians will likely be big time sellers

Russian central bank to resume gold purchases on domestic market from Monday
Reuters https://www.reuters.com/business/finance/russian-central-bank-resume-gold-purchases-domestic-market-monday-2022-02-27/

Maybe, maybe not.

jmski52

Russia has significant leverage with oil & gas and may not need to sell much gold - and China needs oil & gas. And they've already made trade agreements to run around SWIFT - indicating cooperation between them, to the dollar's detriment.

Higashiyama

If Russia says they are buying gold, it may be cover for selling activities.

cohodk

@Higashiyama said:
If Russia says they are buying gold, it may be cover for selling activities.

Agreed. They willbuy domestic production while simultaneously selling holdings.

In less than 10 years the country we now call Russia will cease to exist. And China will have increased their geographic footprint immensely.

tincup

Interesting prediction cohodk. Not sure what to make of it.

blitzdude

@cohodk said:

@Higashiyama said:
If Russia says they are buying gold, it may be cover for selling activities.

Agreed. They willbuy domestic production while simultaneously selling holdings.

In less than 10 years the country we now call Russia will cease to exist. And China will have increased their geographic footprint immensely.

I'd give ya the taxmad LoL but must say I agree. sleep well. RGDS.

derryb

@cohodk said:

In less than 10 years the country we now call Russia will cease to exist. And China will have increased their geographic footprint immensely.

political commentary that violates forum rules voluntarily removed.

blitzdude

@derryb said:

@cohodk said:

In less than 10 years the country we now call Russia will cease to exist. And China will have increased their geographic footprint immensely.

WW III begs to differ with you.

Hopefully you dug your bunker deep enough. Oh by the way what's the current apmex overpriced ASE premiums these days? I saw my paper gutter was up a tick.

meluaufeet

If blitzdude got "paper gutter" so should I.

morgansforever

PM's are up so is everything else, $4 bucks a gallon here for 87 octane in a week or two.

MilesWaits

Good luck finding “on fire Palladium” Eagles below inflated.

MilesWaits

Platinum, trying to break out but struggling unlike it’s white metal brother:
Just a bit above spot:

Higashiyama

@cohodk said: "In less than 10 years the country we now call Russia will cease to exist. And China will have increased their geographic footprint immensely."

Are you thinking that China may coerce a kind of "Louisiana Purchase" of Russia's East Asian territory? In the short term, it seems unlikely that China would risk a war, though they might gradually increase cross border migration and squeeze the Russians out.

morgansforever

@morgansforever said:
PM's are up so is everything else, $4 bucks a gallon here for 87 octane in a week or two.

4 bucks a gallon everywhere overnight, diesel in my area was $3.69 yesterday now $4.79 ish.

OnlyGoldIsMoney

@morgansforever said:

@morgansforever said:
PM's are up so is everything else, $4 bucks a gallon here for 87 octane in a week or two.

4 bucks a gallon everywhere overnight, diesel in my area was $3.69 yesterday now $4.79 ish.

A Summer of discontent is on the way.

cohodk

@derryb said:

@cohodk said:

In less than 10 years the country we now call Russia will cease to exist. And China will have increased their geographic footprint immensely.

WW III begs to differ with you.

How so?

cohodk

@Higashiyama said:
@cohodk said: "In less than 10 years the country we now call Russia will cease to exist. And China will have increased their geographic footprint immensely."

Are you thinking that China may coerce a kind of "Louisiana Purchase" of Russia's East Asian territory? In the short term, it seems unlikely that China would risk a war, though they might gradually increase cross border migration and squeeze the Russians out.

The Russian govt will collapse. China will bring money and machinery to the Siberian people. Not a shot will be fired. Nothing the world will do about it.

derryb

@cohodk said:

In less than 10 years the country we now call Russia will cease to exist. And China will have increased their geographic footprint immensely.

political commentary that violates forum rules voluntarily removed.

Higashiyama

@derryb - I agree with part of this.

I agree that Putin is smart, but I think he is isolated, angry, misjudged the West, and is out of touch with his own people. With regard to the last point, there has been a big generational shift in Russia. In the long run, the impact of sanctions on Russia’s professional class will be more significant than the impact on oligarchs. They like interacting with the West; visits to London or Paris or Venice. They have had substantial access to Western media, and will know exactly why Putin is cutting them off from it.

The Russian middle class will also not be quiescent forever. Russian Moms don’t want their sons dying in pointless wars any more than ours do.

It is impossible to guess Putin’s longevity in office. Probably a 95 % confidence interval would be 1 -10 years? Maybe skewed to the lower end?

Justacommeman

@Higashiyama said:
@derryb - I agree with part of this.

I agree that Putin is smart, but I think he is isolated, angry, misjudged the West, and is out of touch with his own people. With regard to the last point, there has been a big generational shift in Russia. In the long run, the impact of sanctions on Russia’s professional class will be more significant than the impact on oligarchs. They like interacting with the West; visits to London or Paris or Venice. They have had substantial access to Western media, and will know exactly why Putin is cutting them off from it.

The Russian middle class will also not be quiescent forever. Russian Moms don’t want their sons dying in pointless wars any more than ours do.

It is impossible to guess Putin’s longevity in office. Probably a 95 % confidence interval would be 1 -10 years? Maybe skewed to the lower end?

Mostly agree. I think Putin thought NATO would capitulate and division in the US was a likely outcome so he would go largely unchecked. He was banking on autocracy over democracy. He was wrong. So not smart. He is dangerous as he is isolated, paranoid, deranged and running out of options. He is also likely embarrassed so far by the Ukrainians.

Russia has the GDP of Spain.This Is not the old Soviet Union.

m

derryb

@Justacommeman said:

@Higashiyama said:
@derryb - I agree with part of this.

I agree that Putin is smart, but I think he is isolated, angry, misjudged the West, and is out of touch with his own people. With regard to the last point, there has been a big generational shift in Russia. In the long run, the impact of sanctions on Russia’s professional class will be more significant than the impact on oligarchs. They like interacting with the West; visits to London or Paris or Venice. They have had substantial access to Western media, and will know exactly why Putin is cutting them off from it.

The Russian middle class will also not be quiescent forever. Russian Moms don’t want their sons dying in pointless wars any more than ours do.

It is impossible to guess Putin’s longevity in office. Probably a 95 % confidence interval would be 1 -10 years? Maybe skewed to the lower end?

Mostly agree. I think Putin thought NATO would capitulate and division in the US was a likely outcome so he would go largely unchecked. He was banking on autocracy over democracy. He was wrong. So not smart. He is dangerous as he is isolated, paranoid, deranged and running out of options. He is also likely embarrassed so far by the Ukrainians.

Russia has the GDP of Spain.This Is not the old Soviet Union.

m

political commentary that violates forum rules voluntarily removed.

Justacommeman

@derryb said:

@Justacommeman said:

@Higashiyama said:
@derryb - I agree with part of this.

I agree that Putin is smart, but I think he is isolated, angry, misjudged the West, and is out of touch with his own people. With regard to the last point, there has been a big generational shift in Russia. In the long run, the impact of sanctions on Russia’s professional class will be more significant than the impact on oligarchs. They like interacting with the West; visits to London or Paris or Venice. They have had substantial access to Western media, and will know exactly why Putin is cutting them off from it.

The Russian middle class will also not be quiescent forever. Russian Moms don’t want their sons dying in pointless wars any more than ours do.

It is impossible to guess Putin’s longevity in office. Probably a 95 % confidence interval would be 1 -10 years? Maybe skewed to the lower end?

Mostly agree. I think Putin thought NATO would capitulate and division in the US was a likely outcome so he would go largely unchecked. He was banking on autocracy over democracy. He was wrong. So not smart. He is dangerous as he is isolated, paranoid, deranged and running out of options. He is also likely embarrassed so far by the Ukrainians.

Russia has the GDP of Spain.This Is not the old Soviet Union.

m

Aside from foreign hands being inserted into Russian pockets, he has gone militarily unchecked by any of the outsiders who publicly condemn his actions. While he is both dangerous and now isolated he has largely shown restraint as he methodically moves towards his goals. I think we can all agree that had he desired to do so he could have begun and ended the whole affair in very short time but at an extreme and unacceptable cost to the region. For this reason I disagree that he is paranoid or deranged. I also think he fully weighed and understood the economic fallout and would not have moved forward if he and his country were not prepared for it. I do not like him but I do like the fact that he is willing to tell the rest of the world "the hell with globalization."

He's deranged and unhinged and plays to those who favor autocracy . Unfortunately autocracy is trending up. He wants Russia to roll back to Soviet Union times. What he is doing is rolling back the clock to the dark ages. Unfortunately the big winner in all of this is China as they sit and wait.

m

derryb

political commentary that violates forum rules voluntarily removed.

cohodk

@Higashiyama said:
It is impossible to guess Putin’s longevity in office. Probably a 95 % confidence interval would be 1 -10 years? Maybe skewed to the lower end?

Less than 18 months. The Russian soldiers are not fighting for anything other than the lies of a paranoid and delusional megalomaniac. They are not fighting for 40 virgins or even revenge. If this escalates these poor young men will see military might that they only dreamed about. They will turn back towards their homes (or Moscow) and fight against tryanny. Thats a cause all Russians would embrace.

Russia (Putin) has committed suicide.

If a democracy can develop in the aftermath of their collapse, another global economic boom will commence similar to the fall of the Eastern Bloc in the early 90s. 100 million Russians will be welcomed into the 21st century.

cohodk

@derryb said:
I think he's simply trying to prevent NATO missiles from being parked on his border. As the country's leader I'd say he's doing his job.

Nato wouldnt need to park missiles on his doorstep if he wasnt deranged and paranoid. He has done a massive disservice to his country for 25 years. Now he has killed it.

Higashiyama

@cohodk said: Less than 18 months.

I sure hope you’re right. It’s not out of the question.

Regarding democracy in Russia, if Putin falls democracy, is certainly a possibility—they have many of the prerequisites; the big missing component is a history of democracy and the trust element of social capital. But, as you say, if it happened, the “peace dividend” would be huge, for everyone, including of course the Russians.

derryb

political commentary that violates forum rules voluntarily removed.

Justacommeman

Anyone who deploys the type of weapons he is against civilian targets plus who threatens the use of nuclear weapons is deranged. I think it's fair to draw the line there.

I have a zero tolerance for Putin apologists or those with a authoritarian agenda.

m