jelly
Predaceous Stink Bug
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Watch, silver will plummet 10% tomorrow.
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Watch, silver will plummet 10% tomorrow.The only shimmer of hope I see is the fact that silver is holding up nicely, going sideways the past few weeks. As dismal as the miners have been, I would expected silver to be below 20.
Friday is options expiry in stocks. I'd guess we see some continued price fixing for the rest of the week. Next week will free things up.
This is also going to be known as the Golden Opportunity for buying miners.Gold rockets higher, and the miners slowly move higher. Gold gently moves lower, and miners fall off a cliff.
This period is going to go down in the record books as the most awful to be in for the miners.
It might take that long or we could bottom late this year. Those October bottoms go it looks very bleak short term.This is also going to be known as the Golden Opportunity for buying miners.
I’ve made lots, and lost lots, and all I know is that the longer I procrastinate, the better things look.
Sitting in cash, waiting for the bottom next Spring.
Biden, Powell and Yellen gonna run this fucker into the ground. That’s when we pounce; everything else will lead to capitulation.
Gold and silver prices are down in early U.S. trading Friday, in the aftermath of a U.S. monetary-policy-hawkish tone repeated by Federal Reserve Chairman Jerome Powell on Thursday afternoon. ...
Fed Chairman Powell on Thursday afternoon again leaned hawkish in his comments at an IMF forum in Washington, D.C. He said, "If it becomes appropriate to tighten (U.S. monetary) policy further, we will not hesitate to do so." Powell added, "We will continue to move carefully, however, allowing us to address both the risk of being misled by a few good months of data, and the risk of overtightening." Bond yields and the U.S. dollar index rose following Powell's comments, while gold sold off.
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bury it in the garden?Pay for 12 years of storage and insurance
The gold market is trading near session highs after the latest inflation data showed consumer prices cooling beyond expectations in October, leading some economists to predict that a December Fed rate hike is now definitively off the table.
On Tuesday, the U.S. Labor Department said its much-anticipated Consumer Price Index was unchanged last month at 0.0%, following a 0.4% rise in September. The data came in cooler than expected, as economists were still forecasting a 0.1% increase.
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Some Palladium market commentary:...
Palladium has to be getting near a low. You can't find physical for less than a $200 premium.
The stock market is reacting to the realization that the Fed is done raising rates. It's the moment gold has been waiting for, we have been told. But now that the moment is here, gold fails to move higher. Just a couple hiccups higher in a general move down. Pathetic.
Greenlight Capital reported a major increase in its exposure to gold as the hedge fund’s founder worries about the direction of the markets. In a Q3 letter to investors, David Einhorn expressed concern about geopolitical uncertainty, the rising price of oil, and inflation.
Greenlight famously shorted Lehman Brothers before its 2008 failure.
According to third-quarter 13-F filings with the Securities and Exchange Commission, Greenlight plunged $34.9 million into SPDR Gold Trust, the world’s largest gold-backed ETF. That increased the fund’s stake in the ETF by 89.2%, a record exposure to gold for Greenlight.
The hedge fund also reportedly holds a significant amount of physical gold, which is not subject to 13-F reporting.
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