I know... there are a few times throughout the day, like when I am at the gym, where I will not stop and make updates, and this happened during one of those times.
Anyway, gold on the move tonight... 1835+. Next light resistance at 1843.7.
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.
Actually, I'm quoting some commercial that was on TV about ten years ago.......
LOL!
The song in the jukebox in my head is "School's Out For Summer!!!"
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.
Nike is changing it's slogan from "Just Do It" to "Just Buy It" They will have a flying mj dunking a 2 kilo bar over Obama with Fort Knox in the background.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Big difference between spot price and futures price if you are dealing with physical metal anyway. The price of gold has yet to touch $2,000 in USD anyway.
@ProofCollection said:
Comex gold futures. I'm not sure what Kitco chart uses.
Kitco is the chart you want to go by...It's the gold spot price.
COMEX is a gold price for a future date delivered contract..(Aug or Sept...not sure what chart yours is)
How is the spot gold price determined?
I trade gold futures so I go by Comex which is arguably "the" price of gold for the nearest contract month, which that chart is.
You can take physical delivery of gold. Yes I know the rumors about default and cash bonus in lieu of delivery. But this is where the big gold buyers get their gold. And it's not like in this case the spot price is higher than the Comex price.
Was the spot market (?) even open last night when this happened?
@ProofCollection said:
Comex gold futures. I'm not sure what Kitco chart uses.
Kitco is the chart you want to go by...It's the gold spot price.
COMEX is a gold price for a future date delivered contract..(Aug or Sept...not sure what chart yours is)
How is the spot gold price determined?
I trade gold futures so I go by Comex which is arguably "the" price of gold for the nearest contract month, which that chart is.
You can take physical delivery of gold. Yes I know the rumors about default and cash bonus in lieu of delivery. But this is where the big gold buyers get their gold. And it's not like in this case the spot price is higher than the Comex price.
Was the spot market (?) even open last night when this happened?
The spot market is open 24/7/365 unlike the market you speak of. Your market is closed for the next 62 hours or so. Personally I wouldn't want to take delivery @ $2K+ when spot is only $1960 but then again I like to hold my purchased commodities in hand not to mention I'm a cheap ole basstad. Good Luck!
the spot is closed for a short period after 5pm... to 6pm (eastern) and does not trade friday night to sunday evening
the gold futures market closes from 5pm to 6pm eastern M-Th and closes on 5 Friday until 6pm Sunday.
the front month for gold futures is Dec 2020
there is a thread I made where I found the formula to calculate the spot price from the futures price. At the one point I checked, kitco was spot on, pun intended.
there was a dislocation in quoted spot price on kitco being higher than the futures contract. this was in the heart of the pandemic. I think it was due to lack of COMEX inventory. I think. COMEX has supoosedly been replenished if you buy the MSM.
and of course there is now a dislocation between spot price and what price people are actually buying and selling.
Comments
<< <i>Pf, slacker...$1825!
I know... there are a few times throughout the day, like when I am at the gym, where I will not stop and make updates, and this happened during one of those times.
Anyway, gold on the move tonight... 1835+. Next light resistance at 1843.7.
<< <i>any estimates when they might raise margin requirements again? >>
I don't know but I did hear soemone on CNBC, yes the enemy, say when it happens, BUY the dip!!!
The last one got filled in one day. When will be at par is my question?
Miles
<< <i>any estimates when they might raise margin requirements again? >>
Probably when the POG goes up another 10-25%.
<< <i>Great googely moogely!!!!!! >>
Capt, are you quoting Frosty Stillwell?
<< <i>Capt, are you quoting Frosty Stillwell? >>
No. He is quoting Frank Zappa's Nanuck(sp).
<< <i>
<< <i>Capt, are you quoting Frosty Stillwell? >>
No. He is quoting Frank Zappa's Nanuck(sp). >>
Actually, I'm quoting some commercial that was on TV about ten years ago.......
LOL!
The song in the jukebox in my head is "School's Out For Summer!!!"
roadrunner
Everyone wishes they had more gold!
Liberty: Parent of Science & Industry
Miles
<< <i>Impressive run, spectacular high.
Everyone wishes they had more gold! >>
Nike is changing it's slogan from "Just Do It" to "Just Buy It"
They will have a flying mj dunking a 2 kilo bar over Obama with Fort Knox in the background.
Lafayette Grading Set
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
<< <i>Onward! Downward! >>
Good, PC needs a break.
(x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
mariner67, and Mikes coins
Hurricane rally.
<< <i>New highs tonight! 1920+ >>
That was short lived ... is gold finally ready to take a much needed breather?
Box of 20
Wasn't Silver touted as King at one point about 100+ years ago. Its been Prince long enough these past years.
Its Time for it to regain the Kingdom.
Article
Time to dust off this thread. New ATH at comex tonight...
$1946.01 up $38.26 right now
Well, that took a minute!
Glad to see I'm the same smart-ass a decade later 😉 yeah congrats gold, you are a trooper!
Liberty: Parent of Science & Industry
Inflation-adjusted ATH: $2246
https://www.macrotrends.net/1333/historical-gold-prices-100-year-chart
Successful BST transactions (as a buyer) with @ArchStanton, @JGnumismatics, @r00kies101, @derryb, @76collector, @Pachucko, @brendanlam, @Coll3ctor. I am looking for fractional gold Krugerrands, by year: 0.5oz: 2014, 2020, 2023 | 0.25oz: 1992, 1994, 2002, 2020, 2023 | 0.10oz: 1990, 1992, 1994, 2010, 2020-2021
With everything going on lately it was just a matter of time.
Interesting to read these old 'gold prediction/status' threads....and now watch as new highs are hit....This ride is not over yet ..... Cheers, RickO
Yay!!! Viva la gold!!!
Hoping (very poor investment strategy, but when in Rome) it reaches an inflation adjusted high.
Knowledge is the enemy of fear
What inflation? lol
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Time to change this forum category name to “Precious Metals!!“
Officially hit $2005 tonight.
Not sure what chart you are reading.....I don't see that.
Comex gold futures. I'm not sure what Kitco chart uses.
Big difference between spot price and futures price if you are dealing with physical metal anyway. The price of gold has yet to touch $2,000 in USD anyway.
Kitco is the chart you want to go by...It's the gold spot price.
COMEX is a gold price for a future date delivered contract..(Aug or Sept...not sure what chart yours is)
How is the spot gold price determined?
I trade gold futures so I go by Comex which is arguably "the" price of gold for the nearest contract month, which that chart is.
You can take physical delivery of gold. Yes I know the rumors about default and cash bonus in lieu of delivery. But this is where the big gold buyers get their gold. And it's not like in this case the spot price is higher than the Comex price.
Was the spot market (?) even open last night when this happened?
The spot market is open 24/7/365 unlike the market you speak of. Your market is closed for the next 62 hours or so. Personally I wouldn't want to take delivery @ $2K+ when spot is only $1960 but then again I like to hold my purchased commodities in hand not to mention I'm a cheap ole basstad. Good Luck!
the spot is closed for a short period after 5pm... to 6pm (eastern) and does not trade friday night to sunday evening
the gold futures market closes from 5pm to 6pm eastern M-Th and closes on 5 Friday until 6pm Sunday.
the front month for gold futures is Dec 2020
there is a thread I made where I found the formula to calculate the spot price from the futures price. At the one point I checked, kitco was spot on, pun intended.
https://forums.collectors.com/discussion/1023467/found-formula-for-taking-futures-quotes-and-converting-to-spot
there was a dislocation in quoted spot price on kitco being higher than the futures contract. this was in the heart of the pandemic. I think it was due to lack of COMEX inventory. I think. COMEX has supoosedly been replenished if you buy the MSM.
and of course there is now a dislocation between spot price and what price people are actually buying and selling.
Thank you MSM for explaining it once again...