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what markets are doing the selling?

konsolekonsole Posts: 788 ✭✭✭
in Precious Metals
When I notice the pm prices before the regular U.S. stock markets open, most of the time the pm's will be up a considerable amount. Then as the day goes on the metals all fall back down to close to around neutral or negative. What is it about the traders in the U.S. markets that keep on selling the metals and traders in other markets around the world keep buying? Are they both viewing the metals differently?

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    ManorcourtmanManorcourtman Posts: 7,903 ✭✭✭✭
    PPP.......Paper pushers paradise. Try to find real metal at those prices, especially silver.....It ain't gonna happen.
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    OPAOPA Posts: 17,104 ✭✭✭✭✭
    It's normally referred to as "profit taking" ... hundreds of tons of gold & silver was purchased over the years at substantially below current rates....
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
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    roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    It's normally referred to as "profit taking"

    I thought all the traders already took their profits at $1030, $990, and $960 during the retests of the March high?

    Yes, I see how Asian traders push gold up each night and pay too much for it. Then the UK and US markets tank it and rob those guys. It happens every day. You'd think those poor Asian traders would catch on that they are "losing" every day. The thing is, those smart American banks and hedge funds that are trading are already insolvent. So whose the smarter trader in the end?? Right, the one holding the physical.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
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    OPAOPA Posts: 17,104 ✭✭✭✭✭


    << <i>So whose the smarter trader in the end?? Right, the one holding the physical. >>



    Only time will tell if you are correct. The smart trader is the one who does not waste his time with this forum, because he is in Monaco or some other playground, enjoying his fortune.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
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    Norseman88Norseman88 Posts: 962


    << <i>

    << <i>So whose the smarter trader in the end?? Right, the one holding the physical. >>



    Only time will tell if you are correct. The smart trader is the one who does not waste his time with this forum, because he is in Monaco or some other playground, enjoying his fortune. >>


    If he's in Monaco wouldn't he be pissing away his money gambling?image
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    DeadhorseDeadhorse Posts: 3,720 ✭


    << <i>It's normally referred to as "profit taking"

    I thought all the traders already took their profits at $1030, $990, and $960 during the retests of the March high?

    Yes, I see how Asian traders push gold up each night and pay too much for it. Then the UK and US markets tank it and rob those guys. It happens every day. You'd think those poor Asian traders would catch on that they are "losing" every day. The thing is, those smart American banks and hedge funds that are trading are already insolvent. So whose the smarter trader in the end?? Right, the one holding the physical.

    roadrunner >>




    Pearls before swine.
    "Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose."
    John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
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    OPAOPA Posts: 17,104 ✭✭✭✭✭


    << <i>Yes, I see how Asian traders push gold up each night and pay too much for it. Then the UK and US markets tank it and rob those guys. It happens every day. You'd think those poor Asian traders would catch on that they are "losing" every day. The thing is, those smart American banks and hedge funds that are trading are already insolvent. So whose the smarter trader in the end?? Right, the one holding the physical. >>



    They must have read your post...
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
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