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Metal prices sharply down Sunday night

derrybderryb Posts: 36,824 ✭✭✭✭✭
in Precious Metals
Gold quickly down 10.80, silver quickly down .36, looks like a bumpy ride this week.

image

"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

Comments

  • OverdateOverdate Posts: 7,008 ✭✭✭✭✭
    Even though games are being played with paper gold and silver, it appears that physical supply and demand are currently in balance at these price levels. Price suppression alone does not explain why gold and silver have remained well below the cliff they fell off three years ago.

    My Adolph A. Weinman signature :)

  • derrybderryb Posts: 36,824 ✭✭✭✭✭


    << <i>Even though games are being played with paper gold and silver, it appears that physical supply and demand are currently in balance at these price levels. Price suppression alone does not explain why gold and silver have remained well below the cliff they fell off three years ago. >>


    1. speculators come and go, they're gone (for now)
    2. India (a major consumer) has imposed a stiff tax on gold
    3. The (temporary) FED taper didn't help prices

    "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

  • cohodkcohodk Posts: 19,133 ✭✭✭✭✭
    So the "fundamentals" changed?
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • jmski52jmski52 Posts: 22,860 ✭✭✭✭✭
    2. India (a major consumer) has imposed a stiff tax on gold


    There just aren't enough people in India who are willing to swallow gold bars and risk having them surgically-removed if things go awry to compensate for a confiscatory 15% surtax.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • derrybderryb Posts: 36,824 ✭✭✭✭✭


    << <i>So the "fundamentals" changed? >>


    Demand has changed. While speculators help drive demand they do not buy based on fundamentals, they buy based on what they perceive as future demand. All else remains in place which will cause demand to return.

    "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

  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    Same market "fundamentals" as we've seen for the past 2 years.

    Swing the market on the Sydney, Japanese, or Chinese markets open....then bring it back the other way in time for the NY open. Net change = 0. Fresh weak hands swept out. Lather, rinse, repeat.
    Last night was the often seen 9:00 pm "gambit."
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • rickoricko Posts: 98,724 ✭✭✭✭✭
    Always interesting to watch..... no doubt it will return to previous level this week.... Cheers, RickO
  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭


    << <i>2. India (a major consumer) has imposed a stiff tax on gold


    There just aren't enough people in India who are willing to swallow gold bars and risk having them surgically-removed if things go awry to compensate for a confiscatory 15% surtax. >>



    Looks like the Indian Guvmint wants a piece of the action, but they got too greedy and are killing the geese laying the gold eggs.
    theknowitalltroll;
  • pennyanniepennyannie Posts: 3,929 ✭✭✭
    I am still stacking, what else is there to do with the dollars?
    Mark
    NGC registry V-Nickel proof #6!!!!
    working on proof shield nickels # 8 with a bullet!!!!

    RIP "BEAR"
  • jmski52jmski52 Posts: 22,860 ✭✭✭✭✭
    I am still stacking, what else is there to do with the dollars?

    Someone will come by shortly to discuss how stock picking and timing are the answer; someone else will explain the advantages of buying stocks over a long period of time; and there will be a justification for portfolio rebalancing.

    All of those are highly visible and paper-based. The question bears heavily on the degree of trust with which you regard the politicians & bankers. And the stock exchanges.

    I can reflect on a round piece of shiny metal and know that I'm not the only one who thinks that it might be worth something in a pinch because it won't vaporize like an electronic book entry.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • DrBusterDrBuster Posts: 5,379 ✭✭✭✭✭


    << <i>I am still stacking, what else is there to do with the dollars? >>



    Hookers, blow, vacations, those seem to be the popular choices on some of my other forums.image
  • OPAOPA Posts: 17,121 ✭✭✭✭✭


    << <i>I am still stacking, what else is there to do with the dollars? >>



    Enjoy life, spend it on what you always wanted, outings with your family & kids ("on you") For me, stop by my favorite Casino with friends and "blow some of the fiat $" You only live ones, and you damn sure can't take it with you.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • OPAOPA Posts: 17,121 ✭✭✭✭✭


    << <i>

    << <i>I am still stacking, what else is there to do with the dollars? >>



    Hookers, blow, vacations, those seem to be the popular choices on some of my other forums.image >>



    Good choicesimage
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • mariner67mariner67 Posts: 2,746 ✭✭✭


    << <i>

    << <i>I am still stacking, what else is there to do with the dollars? >>



    Hookers, blow, vacations, those seem to be the popular choices on some of my other forums.image >>



    Don't forget about the cigarettes, booze and fireworks!
    Successful trades/buys/sells with gdavis70, adriana, wondercoin, Weiss, nibanny, IrishMike, commoncents05, pf70collector, kyleknap, barefootjuan, coindeuce, WhiteTornado, Nefprollc, ajw, JamesM, PCcoins, slinc, coindudeonebay,beernuts, and many more
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