Look out below when the market opens

zski123 · June 29, 2019 8:50AM

I think we'll see a big move down when the spot market opens Sunday evening. The trade truce between US & China will take gold back a couple of % points I'm guessing. Any thoughts?

tincup · June 29, 2019 9:08AM

No idea! I have realized quite some time ago my ability to predict precious metal prices as related to world events never seems to work out....

ricko · June 29, 2019 9:14AM

Anything could happen.... the market has been flip flopping like a fish out of water....Cheers, RickO

johnny9434 · June 29, 2019 9:21AM

who knows for sure. I was up on the mints web site prices were up. would be nice to see it come back down

zski123 · June 29, 2019 9:25AM

@ricko said:
Anything could happen.... the market has been flip flopping like a fish out of water....Cheers, RickO

No truer words spoken.

tneig · June 29, 2019 9:33AM

Why I don't feel bad for selling some silver this weekend.

@zski123 said:
I think we'll see a big move down when the spot market opens Sunday evening. The trade truce between US & China will take gold back a couple of % points I'm guessing. Any thoughts?

derryb · June 29, 2019 10:18AM

Consensus is equities will respond positively, but let's not forget the were recently driven higher based on an expected fed rate reduction. Easing tensions in China trade removes some of the pressure the fed was feeling. They may renege on their lower rate jawboning causing a major drop in equities.

jmski52 · June 29, 2019 2:37PM

The on-again, off-again trade deal? Make no mistake, the BRICS, and Europa want away from the dollar and have been working on an alternative for years. Their main problem is that they all have competing interests amongst themselves, and the US is still the most stable place on the planet in many ways.

The question concerning precious metals is how they relate to value in the world of international trade. The answer is that a debt-based system goes corrupt in all directions after awhile, and that money creation should be somehow constrained.

Since land ownership can't be traded amongst sovereign countries without a war, gold and silver in a convertible instrument of some sort might be a partial solution to trade imbalances and valuation across borders. What always happens is that when a country starts getting ahead because of having it's act together, nobody else likes paying more for it's output and the pressure builds for a reset. Once a place becomes top-heavy in cool assets, someone wants to take it away - for free.

That's why they invented nuke MIRV warheads on ICB missiles as one heck of a deterrent. The old debt-based system isn't working because the math is used up. And here we are - without a good way to reconcile differences in productivity across borders. Paper vs. Gold. I'll take the latter - while the rest of the world makes up its mind.

bidask · June 29, 2019 2:43PM

The breakout over the 1350-1375 spot is solid and should hold on any pullback

Yorkshireman · June 29, 2019 2:48PM

That may happen quickly and short term but there has been a positive chart signal that indicates the path of least resistance is up.

LukeMarshall · June 29, 2019 3:12PM

No new tarriffs but continuation of the previously levied.

Some trade concessions from both sides
-US non sensitive hardware to Huwai
-China buying larger agricultural amounts.

Resume discussion of trade talks...

How long before a comprehensive deal is hammered out?

Central Bank policies and other geo-political risks makes this an ever changing environment.

Gold is seen as a safe Haven by many, and some marketiers trend anylist would say a retest of a previous resistance line builds a firmer base for a continuous bullish pattern. I would venture to say that most people reading a precious metal forum are bullish in some regard. Many would welcome the chance to add on a dip in prices this week.

jmski52 · June 29, 2019 4:00PM

Here's the basic problem when governments use massive amounts of debt as money - and it's a nasty problem:

https://www.zerohedge.com/news/2019-06-29/how-beijing-uses-fake-money-cannibalize-us-transit-market

blitzdude · June 29, 2019 4:58PM

Iran, dovish fed, out of control debt, no reduction in current Chinese tariffs, stable genius in the white house, Russians taking control of the country. Golds good, I wouldn't be too concerned about a sudden knee jerk reaction. Semper Fi sheeple, congrats!! lol

derryb · June 29, 2019 5:20PM

gold: hard fall. . .

but it will come back, just not right away.

The bull is still in the china shop.

ARCO · June 30, 2019 12:15PM

@zski123 said:
I think we'll see a big move down when the spot market opens Sunday evening. The trade truce between US & China will take gold back a couple of % points I'm guessing. Any thoughts?

Well, I tend to think it was the dual threats of military action with Iran and Powell cutting rates. Trade with China is positive for the economy and stocks. It seems that inflation fears and uncertainty are what drive Gold more than a high octane fuel dropped onto the stock markets.

coinpalice · June 30, 2019 12:40PM

it will be over 1,500 by New Years, that's all that matters to me

derryb · June 30, 2019 3:15PM

here we go:

KindaNewish · June 30, 2019 3:51PM

Meh.
It looks like we won't see $1350, much less $1300 again.
Just a bit of a haircut, but it seems that $1390 or so is strong now. Might take another dip when NYMEX opens and some stop-loss orders are filled, but I think we're fine.

At least my massive 10.5 oz hoard of Eagles is fine (91.67% fine)

meluaufeet · June 30, 2019 3:57PM

BTC getting chopped up also.

jmski52 · June 30, 2019 5:34PM

Whap! Thud! Bam! owwwwie.

OPA · June 30, 2019 7:24PM

Yup...not a big surprise. The "big boys" suspected a "haircut was a commin" last week & acted accordingly.

https://forums.collectors.com/discussion/1021791/100-ase-below-2-50-over-on-ebay-100-maple-leafs-below-2-50-over-4-99-over-gold-leafs#latest

donjalu · June 30, 2019 11:14PM

@jmski52 said:
The on-again, off-again trade deal? Make no mistake, the BRICS, and Europa want away from the dollar and have been working on an alternative for years. Their main problem is that they all have competing interests amongst themselves, and the US is still the most stable place on the planet in many ways.

The question concerning precious metals is how they relate to value in the world of international trade. The answer is that a debt-based system goes corrupt in all directions after awhile, and that money creation should be somehow constrained.

Since land ownership can't be traded amongst sovereign countries without a war, gold and silver in a convertible instrument of some sort might be a partial solution to trade imbalances and valuation across borders. What always happens is that when a country starts getting ahead because of having it's act together, nobody else likes paying more for it's output and the pressure builds for a reset. Once a place becomes top-heavy in cool assets, someone wants to take it away - for free.

That's why they invented nuke MIRV warheads on ICB missiles as one heck of a deterrent. The old debt-based system isn't working because the math is used up. And here we are - without a good way to reconcile differences in productivity across borders. Paper vs. Gold. I'll take the latter - while the rest of the world makes up its mind.

At Zerohedge 6-28-19
"With the world waiting for the first headlines from the Trump-Xi meeting, the most important and unexpected news of the day hit moments ago, when Europe announced that the special trade channel, INSTEX, that will allow European firms to avoid SWIFT and bypass American sanctions on Iran, is now operational.....".

This should be interesting for the precious metals.

MsMorrisine · July 1, 2019 8:08AM

look out above.

gold climbing during the day. almost $1400 on the futures.

OPA · July 1, 2019 9:23AM

@MsMorrisine said:
look out above.

gold climbing during the day. almost $1400 on the futures.

I must have missed that

CaptHenway · July 1, 2019 9:24AM

Statistically, what are the odds that any deal announced by the current administration will fall through?
What is its track record?

Yorkshireman · July 1, 2019 9:46AM

Ignoring the outside noise and watching the charts is suggested if you care about more than a one day move.

selling3 · July 1, 2019 10:18AM

-

selling3 · July 1, 2019 10:46AM

-

OPA · July 1, 2019 12:35PM

@selling3 said:
Avi Gilbrt @seekingalpha.com called it right again. This guy is scarey accurate.

https://seekingalpha.com/article/4272796-sentiment-speaks-depress-price-gold

jmski52 · July 2, 2019 8:11AM

What's this? A rebound? Back up +$19.20

The debt market speaks.

blitzdude · July 2, 2019 9:48AM

Bullish trend continues. Stack on.

MilesWaits · July 2, 2019 11:52AM

Bullish Bullion BBaby. Give me some Independence Day, now.

OPA · July 2, 2019 6:22PM

@blitzdude said:
Bullish trend continues. Stack on.

Maybe for Gold....but Silver..who knows what's going on...it's not on the same "wave length."

coinpalice · July 2, 2019 6:36PM

I see a 15 percent off everything coupon coming on the 4th

TwoSides2aCoin · July 3, 2019 8:51AM

A prognosticator, I am not. But I do predict the market will never close in our lifetime. Which means people will continue going to it. And that means "up".

OPA · July 4, 2019 3:24PM

@coinpalice said:
I see a 15 percent off everything coupon coming on the 4th

I'm looking for it....but can't seem to find it.

OPA · July 5, 2019 7:58AM

@zski123 said:
I think we'll see a big move down when the spot market opens Sunday evening. The trade truce between US & China will take gold back a couple of % points I'm guessing. Any thoughts?

China was a no happening, but a good jobs report ... bad for PM's

derryb · July 8, 2019 1:27PM

There will be no rate cut in July. Look for equities to take back their priced in gains.

OPA · July 10, 2019 12:00PM

Agree, it's unlikely we will see a rate cut in JULY, but on the other hand, I see no reason for equities to take back their gains. Where else would speculative investors park their money for a potential reasonable gain?

RedneckHB · July 10, 2019 2:43PM

Im rotating crops since not all fruits ripen simultaneously.

blitzdude · July 10, 2019 6:20PM

@cohodk said:
Im rotating crops since not all fruits ripen simultaneously.

That's for sure and I feel the pain! I've got eggs, tomatoes and black raspberries flowing out my ears but the walnuts, apples and peppers are non existent. lol. Praise the lord for canning!! Semper Fi!!!

OPA · July 22, 2019 2:38PM

@derryb said:
There will be no rate cut in July. Look for equities to take back their priced in gains.

Do still believe that? I'm beginning to think that a rate cut is coming ...

derryb · July 22, 2019 4:28PM

@OPA said:

@derryb said:
There will be no rate cut in July. Look for equities to take back their priced in gains.

Do still believe that? I'm beginning to think that a rate cut is coming ...

still believe it, only one week left to cut those rates in July. June and thereafter is a completely different story.

NY Fed's Williams says they need to be cut to 0%:

"If the Fed cannot get this situation under control, there’s $555 trillion in derivatives at stake. Yes, TRILLION with a T.
Something BIG is coming and the Fed knows it."

DB failure is a big part of it.

blitzdude · July 22, 2019 5:20PM

Cut them, raise them, print more money, create more debt, bankrupt the country who cares. Self sufficient and I sleep like a baby. Doesn't matter who is running YOUR gooberment, they all have the same agenda. Wake up peeps!

OPA · July 31, 2019 5:16PM

@derryb said:
There will be no rate cut in July. Look for equities to take back their priced in gains.

Time to trade in your crystal ball.

Look out below when the market opens

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