@stevek said:
I'd sure hate to be trading gold long on margin, in at 4,000 or higher.
Unless I didn't mind losing my house and moving into a cheap rental apartment. Hopefully the heat works, as winter is coming.
Volatility is part of the recipe. Chin up and STACK ON
The shorts are having a good time right now. The longs not so much.
Yes, bet with your head, not over it. The problem with this situation is that most folks don't listen to good advice. They only see visions of sugarplums.
I like gold, however I've said this years ago and still say it. In my view, the best way to buy gold is thru PCGS graded coins whereby there is not only gold value there, but numismatic value as well. Then you can enjoy the upward ride, without the stomach ulcers incurred during volatility.
“Backwardation… shows extreme delivery stress… It’s the market exposing the shortages of physical silver, the frailty of the paper promises.”
“In London they have a 140 million ounce float (vaulted physical), yet they’re trading 600 million ounces a day… There’s over two billion ounces in paper claims out there on a float of 140 million.”
Schectman was even harsher when asked about exchange-traded funds like SLV and GLD.
“SLV and GLD… read pages 6 through 12 titled risk factors,” he warned, calling them “a scam” in essence. “I wouldn’t put my money in to save my life.”
Does being a fiancial whiz with dollars make one an expert with gold?
“Backwardation… shows extreme delivery stress… It’s the market exposing the shortages of physical silver, the frailty of the paper promises.”
“In London they have a 140 million ounce float (vaulted physical), yet they’re trading 600 million ounces a day… There’s over two billion ounces in paper claims out there on a float of 140 million.”
Schectman was even harsher when asked about exchange-traded funds like SLV and GLD.
“SLV and GLD… read pages 6 through 12 titled risk factors,” he warned, calling them “a scam” in essence. “I wouldn’t put my money in to save my life.”
Last I heard every refiner on the planet wasn't even interested in the physical gutter. Real world facts over paper doomsday Bulgarian newsletters will win every single time. It's like a grown man's Disneyland. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
@blitzdude said:
Last I heard every refiner on the planet wasn't even interested in the physical gutter. Real world facts over paper doomsday Bulgarian newsletters will win every single time. It's like a grown man's Disneyland. RGDS!
for a number of days jack hunt has been back to buying .999. still not on alloyed items
When Schechtman says something like the Big Money is leaving stocks and buying hard assets...that's just nuts. It's made up fiction.
Anybody can have an opinion but to say something like that which is demonstrably false -- he doesn't tell us who is moving into PMs -- shreds his credibility.
I've read ZeroHedge and "Tyler Durden" for years. Some good stuff....but a click-bait guy like Schechtman is a bit too much.
When Schechtman says something like the Big Money is leaving stocks and buying hard assets...that's just nuts. It's made up fiction.
Anybody can have an opinion but to say something like that which is demonstrably false -- he doesn't tell us who is moving into PMs -- shreds his credibility.
He has noted that the big money includes the US military, Russia, China, India, and Saudi Arabia. Which part do you consider to be "demonstrably false"?
a click-bait guy like Schechtman is a bit too much.
Kinda scares you, doesn't he? He knows more about the workings and dynamics of the silver market than any of your drive-by banking analysts will ever know.
Q: Are You Printing Money? Bernanke: Not Literally
@jmski52 said:
He has noted that the big money includes the US military, Russia, China, India, and Saudi Arabia. Which part do you >consider to be "demonstrably false"?
The U.S. military does not "invest".....Russia is going bankrupt with oil in the $60's and heading lower.....Chinese retail investors want U.S. assets...India same thing....Saudi Arabia and other Gulf countries want and hold U.S. assets, including Treasuries (through London).
He offers no proof of his statement. He'd then have to tell us what asset they are buying and what they are ditching.
You can make a bullish call on gold without stating that everybody is leaving stocks and bonds.
Kinda scares you, doesn't he? He knows more about the workings and dynamics of the silver market than any of >your drive-by banking analysts will ever know.
Really ? Let's see his returns the last 10, 20, and 30 years.
He may say some stuff that is either partially or completely true....but that doesn't mean he's made his subscribers or himself money in the (silver) markets. If he says a massive short-covering is coming and silver is going to $300 an ounce...and it's 1/6th that level....then I think he has some 'splaining to do, as Rickie Riccardo once said.
You can make a bullish call on gold without stating that everybody is leaving stocks and bonds.
The trend is towards de-dollarization, and with good reason. The US (and the EU) have shown that they are willing to confiscate assets. On top of that, long term US debt is a ponzi of the highest order. Several big institutions are recommending that a significant portion of bond holdings be replaced by gold in their model portfolios. Why would they be doing that? Go ahead and buy bonds for yourself, I'll stick with anything else.
US stocks - I don't recall saying that "everybody is leaving stocks", but I note that the stock market is being held up by the grossly-overvalued "Mag 7" and not much else (other than more easy money from the Fed).
He may say some stuff that is either partially or completely true....but that doesn't mean he's made his subscribers or himself money in the (silver) markets. If he says a massive short-covering is coming and silver is going to $300 an ounce...and it's 1/6th that level....then I think he has some 'splaining to do, as Rickie Riccardo once said.
Since you clearly have no knowledge of Andy Schectman, I'm not going to be the one to educate you. Do your own work. Same goes for he other market experts that I've already listed.
Q: Are You Printing Money? Bernanke: Not Literally
@jmski52 said:
He has noted that the big money includes the US military, Russia, China, India, and Saudi Arabia. Which part do you >consider to be "demonstrably false"?
The U.S. military does not "invest".....Russia is going bankrupt with oil in the $60's and heading lower.....Chinese retail investors want U.S. assets...India same thing....Saudi Arabia and other Gulf countries want and hold U.S. assets, including Treasuries (through London).
He offers no proof of his statement. He'd then have to tell us what asset they are buying and what they are ditching.
You can make a bullish call on gold without stating that everybody is leaving stocks and bonds.
Kinda scares you, doesn't he? He knows more about the workings and dynamics of the silver market than any of >your drive-by banking analysts will ever know.
Really ? Let's see his returns the last 10, 20, and 30 years.
He may say some stuff that is either partially or completely true....but that doesn't mean he's made his subscribers or himself money in the (silver) markets. If he says a massive short-covering is coming and silver is going to $300 an ounce...and it's 1/6th that level....then I think he has some 'splaining to do, as Rickie Riccardo once said.
I'm not here to argue the other side, but your comment that "The U.S. military does not "invest"' is no longer accurate. While I wish your statement were true, in a major policy shift the US government has taken a stake in several publicly traded companies including the DoD's 400 million stake in MP Materials.
I recently read that if foreign institutions, including their central banks, transferred just 1/2 of 1% of their current holding from Treasuries (holdings in trillions) to gold, the increase in demand would pop gold over $6K. Now they are not stupid to jump all in at once, but we'll see this gradual shift over time unless we do something with our debt.
@coastaljerseyguy said:
I recently read that if foreign institutions, including their central banks, transferred just 1/2 of 1% of their current holding from Treasuries (holdings in trillions) to gold, the increase in demand would pop gold over $6K. Now they are not stupid to jump all in at once, but we'll see this gradual shift over time unless we do something with our debt.
central banks have already been converting US debt to gold. this was the major driver to $4K.
Does being a fiancial whiz with dollars make one an expert with gold?
@MsMorrisine said:
it was suggested centra banks were driving it to 4400, until it fell 400. now central banks drove it to 4000? how can anyone be sure?
Maybe to shake out some weak hands or those who wanted to cash in on the runup. Start buying again 10% cheaper.
@blitzdude said:
It's only "manipulation" on the way down. Never on the way up. LOL. THKS!
No one here made that general statement on manipulation but you. However the specific JPM precious metals trading manipulation which they were found guilty was for entering tens of thousands of large spoofing orders over 8 years were to lower the price of PM so they could buy low and sell higher when the orders were cancelled. Lets stick with the facts. Yesterday you denied they were charged with trading manipulation but didn't clarify what they were charged with.
@blitzdude said:
It's only "manipulation" on the way down. Never on the way up. LOL. THKS!
No one here made that general statement on manipulation but you. However the specific JPM precious metals trading manipulation which they were found guilty was for entering tens of thousands of large spoofing orders over 8 years were to lower the price of PM so they could buy low and sell higher when the orders were cancelled. Lets stick with the facts. Yesterday you denied they were charged with trading manipulation but didn't clarify what they were charged with.
Huh? I said no such thing yesterday. No doubt, lets stick with the facts. THKS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
@coastaljerseyguy said:
I recently read that if foreign institutions, including their central banks, transferred just 1/2 of 1% of their current >holding from Treasuries (holdings in trillions) to gold, the increase in demand would pop gold over $6K. Now they >are not stupid to jump all in at once, but we'll see this gradual shift over time unless we do something with our debt.
And you could also double the price of NVDA stock.
There are numerous variables that go into the scenario you outline...something changes, you can still see assets flow out of Treasuries into gold and see the gold price DROP.
@coastaljerseyguy said:
It's only "manipulation" on the way down. Never on the way up. LOL. THKS!
No one here made that general statement on manipulation but you. However the specific JPM precious metals >trading manipulation which they were found guilty was for entering tens of thousands of large spoofing orders over >8 years were to lower the price of PM so they could buy low and sell higher when the orders were cancelled. Lets >stick with the facts. Yesterday you denied they were charged with trading manipulation but didn't clarify what they
This was day traders looking to scalp nickles and dimes. If a hedge fund was long on the other side, you're asking us to believe that the hedge fund was "cheated" ?
DOJ and other government agencies have a political and anti-financial bias. That's why they went after Bernie Madoff (Wall Street) but did NOTHING when the Teamsters pension plan was looted to the tune of $36 billion. In fact, the coverage is about 1,000-to-1 in favor of Madoff, maybe even higher. But Madoff cost the government very little while the unions are costing us plenty.
Same principle applies to JPM's spoofing trades. Illegal yes, but harmless -- often used for price discovery in illiquid markets (made that way by decimilization).
@coastaljerseyguy said:
It's only "manipulation" on the way down. Never on the way up. LOL. THKS!
No one here made that general statement on manipulation but you. However the specific JPM precious metals >trading manipulation which they were found guilty was for entering tens of thousands of large spoofing orders over >8 years were to lower the price of PM so they could buy low and sell higher when the orders were cancelled. Lets >stick with the facts. Yesterday you denied they were charged with trading manipulation but didn't clarify what they
This was day traders looking to scalp nickles and dimes. If a hedge fund was long on the other side, you're asking us to believe that the hedge fund was "cheated" ?
DOJ and other government agencies have a political and anti-financial bias. That's why they went after Bernie Madoff (Wall Street) but did NOTHING when the Teamsters pension plan was looted to the tune of $36 billion. In fact, the coverage is about 1,000-to-1 in favor of Madoff, maybe even higher. But Madoff cost the government very little while the unions are costing us plenty.
Same principle applies to JPM's spoofing trades. Illegal yes, but harmless -- often used for price discovery in illiquid markets (made that way by decimilization).
.
JPM was ordered to pay close to $300 million in restitution.
They STOLE $300 MILLION from counter-parties.
And management conveniently doesn't know anything about it ?
You keep trying to justify the theft by calling it "nickels and dimes", or "rounding errors", or "harmless".
Why do you go to great lengths to try and trivialize the incident and defend the crooks ?
@dcarr said:
You keep trying to justify the theft by calling it "nickels and dimes", or "rounding errors", or "harmless".
Why do you go to great lengths to try and trivialize the incident and defend the crooks ?
Because JPM has $375 billion in capital and less than 0.5% is dedicated to PMs, Gold, and Silver.
They make $60 billion a year. They're not planning to do something illegal for a few million dollars.
@dcarr said:
You keep trying to justify the theft by calling it "nickels and dimes", or "rounding errors", or "harmless".
Why do you go to great lengths to try and trivialize the incident and defend the crooks ?
Because JPM has $375 billion in capital and less than 0.5% is dedicated to PMs, Gold, and Silver.
They make $60 billion a year. They're not planning to do something illegal for a few million dollars.
.
Again, trying to trivialize it. They made $4 Billion and got fined $1 Billion. $3 Billion net profit.
And that is just in precious metals. Who knows what else they've done. Maybe you do ?
Comments
We did test it. We need to base here or go flat for a while. We were WAY overbought...by some measures, the most in 15-20 years.
kitco and futures have both broken 4000
Already was.
Gold trading today. It's like everyone was watching to see what the other guy was going to do before making a decision. 😐
That pretty much sums up everyday in the 25+ years I've been buying the metal. THKS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Yep, me to. LOL
But this 4k number, considering all the chit going on out there, just seems to be a bit more special than usual.
We shall see which way it goes. 🤔
My US Mint Commemorative Medal Set
3,919.80
-99.90
(-2.49%)
I'd sure hate to be trading gold long on margin, in at 4,000 or higher.
Unless I didn't mind losing my house and moving into a cheap rental apartment. Hopefully the heat works, as winter is coming.
Volatility is part of the recipe. Chin up and STACK ON
COPPER is gutter !
The shorts are having a good time right now. The longs not so much.
Yes, bet with your head, not over it. The problem with this situation is that most folks don't listen to good advice. They only see visions of sugarplums.
I like gold, however I've said this years ago and still say it. In my view, the best way to buy gold is thru PCGS graded coins whereby there is not only gold value there, but numismatic value as well. Then you can enjoy the upward ride, without the stomach ulcers incurred during volatility.
a good critique of physical vs. paper:
the physical market finally called the bluff of decades of paper manipulation..
“Backwardation… shows extreme delivery stress… It’s the market exposing the shortages of physical silver, the frailty of the paper promises.”
“In London they have a 140 million ounce float (vaulted physical), yet they’re trading 600 million ounces a day… There’s over two billion ounces in paper claims out there on a float of 140 million.”
Schectman was even harsher when asked about exchange-traded funds like SLV and GLD.
“SLV and GLD… read pages 6 through 12 titled risk factors,” he warned, calling them “a scam” in essence. “I wouldn’t put my money in to save my life.”
Does being a fiancial whiz with dollars make one an expert with gold?
Last I heard every refiner on the planet wasn't even interested in the physical gutter. Real world facts over paper doomsday Bulgarian newsletters will win every single time. It's like a grown man's Disneyland. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
what is causing the stock market to rise so much so fast?
cnbc reports, on this record setting up day, that the breadth was worst ever for an up day
for a number of days jack hunt has been back to buying .999. still not on alloyed items
you should try to keep up - lease rates went up, refining went down.
Does being a fiancial whiz with dollars make one an expert with gold?
Silver Lease Rates Plunge as Historic Market Squeeze Eases
Bloomberg.com
https://www.bloomberg.com/news/articles/2025-10-27/silver-lease-rates-plunge-as-historic-market-squeeze-eases
2 days ago — Silver lease rates fell to 5.6% on Monday after surging to an all-time peak of 34.9% on Oct. 9, data compiled by Bloomberg show.
this is behind a paywall, but there's the current, from 2 days ago, headline
Dude has more silver than I will ever have (by choice) and trashes it 24/7. Definite chromosome issue here.
COPPER is gutter !
4,000.60
+17.50
(+0.44%)
I think that 60 cents may indicate strength in the 4k number. LOL
When Schechtman says something like the Big Money is leaving stocks and buying hard assets...that's just nuts. It's made up fiction.
Anybody can have an opinion but to say something like that which is demonstrably false -- he doesn't tell us who is moving into PMs -- shreds his credibility.
I've read ZeroHedge and "Tyler Durden" for years. Some good stuff....but a click-bait guy like Schechtman is a bit too much.
When Schechtman says something like the Big Money is leaving stocks and buying hard assets...that's just nuts. It's made up fiction.
Anybody can have an opinion but to say something like that which is demonstrably false -- he doesn't tell us who is moving into PMs -- shreds his credibility.
He has noted that the big money includes the US military, Russia, China, India, and Saudi Arabia. Which part do you consider to be "demonstrably false"?
a click-bait guy like Schechtman is a bit too much.
Kinda scares you, doesn't he? He knows more about the workings and dynamics of the silver market than any of your drive-by banking analysts will ever know.
I knew it would happen.
The U.S. military does not "invest".....Russia is going bankrupt with oil in the $60's and heading lower.....Chinese retail investors want U.S. assets...India same thing....Saudi Arabia and other Gulf countries want and hold U.S. assets, including Treasuries (through London).
He offers no proof of his statement. He'd then have to tell us what asset they are buying and what they are ditching.
You can make a bullish call on gold without stating that everybody is leaving stocks and bonds.
Really ? Let's see his returns the last 10, 20, and 30 years.
He may say some stuff that is either partially or completely true....but that doesn't mean he's made his subscribers or himself money in the (silver) markets. If he says a massive short-covering is coming and silver is going to $300 an ounce...and it's 1/6th that level....then I think he has some 'splaining to do, as Rickie Riccardo once said.
You can make a bullish call on gold without stating that everybody is leaving stocks and bonds.
The trend is towards de-dollarization, and with good reason. The US (and the EU) have shown that they are willing to confiscate assets. On top of that, long term US debt is a ponzi of the highest order. Several big institutions are recommending that a significant portion of bond holdings be replaced by gold in their model portfolios. Why would they be doing that? Go ahead and buy bonds for yourself, I'll stick with anything else.
US stocks - I don't recall saying that "everybody is leaving stocks", but I note that the stock market is being held up by the grossly-overvalued "Mag 7" and not much else (other than more easy money from the Fed).
He may say some stuff that is either partially or completely true....but that doesn't mean he's made his subscribers or himself money in the (silver) markets. If he says a massive short-covering is coming and silver is going to $300 an ounce...and it's 1/6th that level....then I think he has some 'splaining to do, as Rickie Riccardo once said.
Since you clearly have no knowledge of Andy Schectman, I'm not going to be the one to educate you. Do your own work. Same goes for he other market experts that I've already listed.
I knew it would happen.
I'm not here to argue the other side, but your comment that "The U.S. military does not "invest"' is no longer accurate. While I wish your statement were true, in a major policy shift the US government has taken a stake in several publicly traded companies including the DoD's 400 million stake in MP Materials.
Philippians 4:4-7
I recently read that if foreign institutions, including their central banks, transferred just 1/2 of 1% of their current holding from Treasuries (holdings in trillions) to gold, the increase in demand would pop gold over $6K. Now they are not stupid to jump all in at once, but we'll see this gradual shift over time unless we do something with our debt.
central banks have already been converting US debt to gold. this was the major driver to $4K.
Does being a fiancial whiz with dollars make one an expert with gold?
it was suggested centra banks were driving it to 4400, until it fell 400. now central banks drove it to 4000? how can anyone be sure?
Maybe to shake out some weak hands or those who wanted to cash in on the runup. Start buying again 10% cheaper.
It's only "manipulation" on the way down. Never on the way up. LOL. THKS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Yep, just like when your pie hole is shut when silver is UP!
YAWN
COPPER is gutter !
supply/demand drives it up, bullion banks drive it back down. Wash, rinse, repeat. The manufactured volatility is why JPM never loses money on silver.
Does being a fiancial whiz with dollars make one an expert with gold?
No one here made that general statement on manipulation but you. However the specific JPM precious metals trading manipulation which they were found guilty was for entering tens of thousands of large spoofing orders over 8 years were to lower the price of PM so they could buy low and sell higher when the orders were cancelled. Lets stick with the facts. Yesterday you denied they were charged with trading manipulation but didn't clarify what they were charged with.
Huh? I said no such thing yesterday. No doubt, lets stick with the facts. THKS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
And you could also double the price of NVDA stock.
There are numerous variables that go into the scenario you outline...something changes, you can still see assets flow out of Treasuries into gold and see the gold price DROP.
This was day traders looking to scalp nickles and dimes. If a hedge fund was long on the other side, you're asking us to believe that the hedge fund was "cheated" ?
DOJ and other government agencies have a political and anti-financial bias. That's why they went after Bernie Madoff (Wall Street) but did NOTHING when the Teamsters pension plan was looted to the tune of $36 billion. In fact, the coverage is about 1,000-to-1 in favor of Madoff, maybe even higher. But Madoff cost the government very little while the unions are costing us plenty.
Same principle applies to JPM's spoofing trades. Illegal yes, but harmless -- often used for price discovery in illiquid markets (made that way by decimilization).
.> @GoldFinger1969 said:
.
JPM was ordered to pay close to $300 million in restitution.
They STOLE $300 MILLION from counter-parties.
And management conveniently doesn't know anything about it ?
You keep trying to justify the theft by calling it "nickels and dimes", or "rounding errors", or "harmless".
Why do you go to great lengths to try and trivialize the incident and defend the crooks ?
.
Because JPM has $375 billion in capital and less than 0.5% is dedicated to PMs, Gold, and Silver.
They make $60 billion a year. They're not planning to do something illegal for a few million dollars.
.
Again, trying to trivialize it. They made $4 Billion and got fined $1 Billion. $3 Billion net profit.
And that is just in precious metals. Who knows what else they've done. Maybe you do ?
.