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PM prices this last week or 10 days...

MeltdownMeltdown Posts: 8,667 ✭✭✭✭✭
in Precious Metals
What's been holding them down recently?
I keep expecting to see an increase if for no other reason than optimism image

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    WeissWeiss Posts: 9,935 ✭✭✭✭✭
    Consumer confidence today, I think.
    We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
    --Severian the Lame
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    mkman123mkman123 Posts: 6,849 ✭✭✭✭
    what should consumers be confident about?????
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    dwsswsdwssws Posts: 2,166


    << <i>what should consumers be confident about????? >>



    image
    steve

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    Norseman88Norseman88 Posts: 962


    << <i>what should consumers be confident about????? >>



    Exactly what I was thinking. There is a seasonal trend in precious metals which usually sees them sell off sometime in May hence the saying sell in May and go away then sometime later in the year they rebound or go higher. I think it will take some kind of event to jolt the metals higher as they seem incapable of advancing on their own especially in the face of massive naked short positions.
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    mhammermanmhammerman Posts: 3,769 ✭✭✭
    OK, so here's a basic question...What determines the spot quote (thanks for the clarification on melt, spot, fix and the ensuing conversation)? There are so many factors; how would we as interested lay people, be able to anticipate the future price of gold in the near term by just examining a few indicators that are major influences in the price of physical gold on the street? There's a lot of jawing and yammering here about this and that about the price of gold but just what would you think are the simple indicators that could be used to prognosticate near term prices? I know there are the chartists, the fibonacci folk, the Elliot wave theroists in waiting and the variations on a theme but what about us regular folk? For example, there are international trade settlements that move gold around on paper, there are banksters playing shorts and leveraging, there are etf's and the like, there are miners forward selling, there's the governments like ours that are trying to keep a cap on inflation and likewise gold, there are international events that are getting headdy enough now to scare the bejezus out of any sane person and we seem to be right on the brink every day but gold sits...there are just so many things going on...just how would you go about anticipating the price of gold in say two months? Is COMEX the big dog here; just what do they do to the price? What are the leading indicators of price movement and what would be the or a lynchpin to setting it off on a rapid spike? Hummmmmmm...seems like we should be able to come up with something here?

    For example, does the ledger notation indicating transfer of gold in an international deal really affect the price of gold at the coin shop...hard to say if it would do much for the price so maybe this is not a good indicator, at least on the surface. How about paper gold people...it's still paper chasing paper, there really isn't any gold involved so does this affect the price of gold on the street? Yeah, we know it does and that's where we get to the premium for physical, maybe premium is a pretty good indicator of what gold is worth in USD and even more fun, a good indicator of near term future prices. Well, keep looking...just a quark.
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