Gold/silver futures night trading to begin in China on July 5

derryb

China to start night trading of gold and silver futures on July 5

Is the Shanghai Futures Exchange gearing up to take metal "price discovery" away from COMEX?

mrpaseo

Cool, now all we need is the market to run on the weekends and we'll be all set.

jmski52

One more step in the progression of events that will make things worse for the dollar, and consequently - better for the metals.

Note, that this isn't good for the US.

johnny9434

<< <i>Cool, now all we need is the market to run on the weekends and we'll be all set. >>

wouldnt that be a great thing huh.

GRANDAM

Now we will see the true value of precious metals.

GrandAm

cohodk

<< <i>One more step in the progression of events that will make things worse for the dollar, and consequently - better for the metals.

Note, that this isn't good for the US. >>



Honestly, I cant think of a single reason why this would be bad for the dollar.

GRANDAM

<< <i>

<< <i>One more step in the progression of events that will make things worse for the dollar, and consequently - better for the metals.

Note, that this isn't good for the US. >>



Honestly, I cant think of a single reason why this would be bad for the dollar. >>



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This will cause hard precious metals (not non-existant) paper metals to trade at a true market value.

As precious metals rise the fiat dollar will fall in value.

When the Chinese back the yuan with a % to gold it will overtake the dollar as the new world reserve currency.

Unless the dollar becomes backed to a % value to gold the $ is doomed

GrandAm

Julio

This will cause hard precious metals (not non-existant) paper metals to trade at a true market value.

As precious metals rise the fiat dollar will fall in value.

When the Chinese back the yuan with a % to gold it will overtake the dollar as the new world reserve currency.

Unless the dollar becomes backed to a % value to gold the $ is doomed

GrandAm

Sounds good to me and wow more time I can enjoy watching Pm prices around the world. . Take care. jws

Baley

<< <i>One more step in the progression of events that will make things worse for the dollar, and consequently - better for the metals.

Note, that this isn't good for the US. >>



Every single bit of news reported means bad news for the USA and the dollar, and good news for the metals, it seems.

Julio

Anyone know the URL? I don't want to miss the premier. Got popcorn. Take care. jws

CharlesMclain

That’s crazy quest for gold. If the speculations turn out to be true and China backs its currency with gold, the precious metals market will be distorted beyond recognition. Could ‘gold at $10,000 an-ounce’ turn out to be true????

derryb

I don't believe they have intentions of backing the Yuan, they stand to overpower the dollar as a reserve currency without doing so.

jmski52

Honestly, I cant think of a single reason why this would be bad for the dollar.

China is diversifying out of Treasuries. This is bad for the dollar. The fact that another gold venue other than the criminally-manipulated Comex might allow for price discovery - reflects poorly on the dollar, albeit there is no guarantee that a Chinese venue will be any less manipulated.

Every single bit of news reported means bad news for the USA and the dollar, and good news for the metals, it seems.

If the price of gold can't be manipulated by the Western Central Bankers, a sharp rise in metals prices will place more focus on the Fed's money creation and the US's debt problem. If you don't understand why the debt load impedes economic growth in the US, then you should review how companies allocate their capital based on rates of return. Rose-colored glasses don't help when a business depends on calculating the realities of P&L.

The debt, and capricious spending are the problem. Any news that points toward how the dollar is being abused is inherently not good for the dollar, and accordingly - is generally good for the metals.

roadrunner

The Hong Kong mercantile exchange failed after 2 years due the inability to create gold volume demand.

How will this new exchange do things differently to succeed?

derryb

<< <i>The Hong Kong mercantile exchange failed after 2 years due the inability to create gold volume demand.

How will this new exchange do things differently to succeed? >>


That was the failure of a new exchange that was unable to compete with established exchanges such as the one adding night trading for metals.

derryb

and in a related development:

World's First Physical Precious Metals Exchange with Peer-to-Peer Bullion Trading Capabilities Launched in Singapore July 3

"What makes us unique is that SGPMX brings together all elements under one platform, making it easy for our 11,000 and growing customer base to order, store, transport and trade physical precious metals with the same ease as trading in other financial instruments," Foo added.

Note that this is a a physical metals exchange.

Baley

So, that will make them go up?

Because I can't wait to sell some for at least what I paid, really looking forward to breaking even on these metals I've been sold

signed, another bag holder

derryb

<< <i>So, that will make them go up?

Because I can't wait to sell some for at least what I paid, really looking forward to breaking even on these metals I've been sold

signed, another bag holder >>


No Baley, its PM related news. You know, the kind of info that serious PM players like to stay abreast of. However, keep watching, we'll let you know when to sell.

derryb

Baley, time to empty the bag and sell.

jmski52

Is the Shanghai Futures Exchange gearing up to take metal "price discovery" away from COMEX?

If Comex can't control the price, we may see "the mother of all short squeezes" on the Comex before long. China may think that it's in their interest to orchestrate such a move, to embarrass the corrupt Comex and their clientele if nothing else.

Baley

<< <i>China to start night trading of gold and silver futures on July 5

Is the Shanghai Futures Exchange gearing up to take metal "price discovery" away from COMEX? >>



Looks as if it had an effect?

derryb

<< <i>

<< <i>China to start night trading of gold and silver futures on July 5

Is the Shanghai Futures Exchange gearing up to take metal "price discovery" away from COMEX? >>



Looks as if it had an effect?

>>


No, that's just the FED at work. Taking control will not happen over night, but it will occur.

jmski52

Baley, I'm really curious. What DO you think?

CalGold

<< <i>Honestly, I cant think of a single reason why this would be bad for the dollar. >>



Please stop talking sense. You are dashing people's hope.

CG

Smittys

<< <i>

<< <i>Honestly, I cant think of a single reason why this would be bad for the dollar. >>



Please stop talking sense. You are dashing people's hope.

CG >>

cohodk

<< <i>

<< <i>

<< <i>Honestly, I cant think of a single reason why this would be bad for the dollar. >>



Please stop talking sense. You are dashing people's hope.

CG >>

>>



You know I am absolutely no fun at parties.

shorecoll

If they can cook LIBOR, what makes you think they can't cook anything they want? Guys playing with $Bs and $Ts can pretty much do whatever they want. There are still rumors that the move down in gold is because some of the guys playing with $Ts are trying to take out a couple of the guys who only have $Bs. This is seriously high-stakes poker.