Italy's turn

derryb

A "no" vote on 12/5 should light a fire under PMs.

Edited to correct date to 12/5.

Wingsrule

Same with the vote on 12/05.

cohodk

Seeing how gold is now lower than after Brexit and Trump, I would think the gold bugs would prefer a yes vote.

derryb

@cohodk said:
Seeing how gold is now lower than after Brexit and Trump, I would think the gold bugs would prefer a yes vote.

The logical answer to to me as well but Market Watch is reporting "the smart money is moving into gold:" with "there is merit to consider buying gold or a gold miner today ahead of the Italian referendum. The risk/reward is asymmetrical in favor of buying. In plain English, if the referendum is a “no,” there is a $40-$80 upside potential, but the downside potential is $10-$20 if the referendum is a “yes.”

The new paradigm: Politics is driving the markets.

MsMorrisine

or a Taiwan invasion

ricko

Quote from derryb "Politics is driving the markets."

Strangely enough, this appears true.... being the distrustful individual that I am, I keep looking for the hidden driver, not fully believing the obvious (Occam's razor notwithstanding)...however, at this point, I see none. Cheers, RickO

Baley

The new paradigm: Politics is driving the markets.

Wai... wha?

Before, I read on here that it's manipulation by the big banks and brokerage houses that was "driving the markets".. no, hold on, it was the Fed's quantitative easing/money printing that's driving the markets... no, it was the Chinese and Indians driving the markets..., no, actually now it's "Politics" that's "driving the markets"?

and going to "light a fire under PMs"?

We'll see..

dpoole

The world is awash with manipulations, like Supply and Demand, the Invisible Hand, Baley, my kids, etc. I've decided to quit trying to out-guess them.

cohodk

I'm also confused Baley. Lol

Crazy thing it what drives PM prices is incredibly obvious, yet most don't see it.

Baley

Is it the multidimensional calculus of the aggregate buying and selling decisions of various market participant segments over time, based upon their experience and outlook, their goals and consequence avoidance, there hopes and dreams, and their greed and fear?

cohodk

See, it ain't rocket science.

TwoSides2aCoin

spaghetti is expected to go through the roof.

derryb

Italy votes no, gold moving up in the US opening. No vote should have negative affect on the euro which normally drives dollar index up which normally drives gold down. Curious to see how this plays out.

US speculators drive it up, shorts drive it back down and now Asia gets in on the action. Off to a positive start there, will it hold?

cohodk

Gold is already lower .

Baley

Dinner at Olive Garden was good, I had the ravioli.