We are still very early in the weekly cycle for gold and the markets
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Haha funny video Franky. Are you saying the gold market is manipulated just like that ping pong game?
YES and ON and ON it GOES ! https://www.youtube.com/watch?v=Orlbo9WkZ2E
Based on timing we can draw the conclusion. Gold decline coincides with QE3 within a week or so.
Nice one franky….don’t know what it means but who cares!
The price is capped white MANIPULATION !
And the game goes on ! https://www.youtube.com/watch?v=7p6GUxwo-bs
As MAD said $1224; however, listening to the analyst industry they are largely all slitting their wrists which tells me we are coming into a bottom of some kind.
Still seeing $1224 as the low. Silver might make one last cameo appearance in the $18’s, as well.
I hope your prediction comes true.
$1224 was the 2009 high if I recall right.
Pathetic
Currently, all the primary silver mines are losing money in a big way. For example Pam American Silver, the largest and used to be very profitable silver mine, loses $CDN3.5 for a $CND14 stock price. It pays a dividend as well. How long can these companies last before they have to scale down or close mines. How can they raise money under this condition? This sideway low price is definitely reducing the supply. I remember that I saw a statistics that mine production is down for the last few quarters after rising for many years. This is very similar to 2000-2002.
Anyone knows that any silver mine still makes money? SLW does not count since it is not silver mine.
You are right Lawrence. With silver under $20 silver mining companies are depending on secondary metals within the deposits to make up the much needed difference. It all comes down to the costs associated with shutting down the mines and later bringing them back on compared to simply continuing to tough it out.
Not sure how long these companies can operate at a loss. Mining cost for other metals are also going up quickly and prices are not rising either.
If FED does taper, bond yield should go up and stocks should go down. It is not happening so I think they are QE behind the scene.
I continue to think that the Fed is getting the big backs to do the QE for them. Essentially interest free money is given out and the banks are putting it into the markets and the companies with money are buying back shares.
Cory, do you mean big banks? I think you mean that they (banks) are lending out their cash reserve in the fed or simply borrow money to fund the treasury purchase and stock buy back. Can they borrow any new money without collaterals? It is all seems very abnormal to me.
Yes Banks. Thanks for catching that Lawrence.
Gary, do you see irrational exuberance in the ‘conventional markets’?
There are a few worrying signs in margin debt levels, but for the most part we aren’t really at the extreme sentiment levels typical of a bubble top.
Nasdaq has been a good safe haven for me. Another great day with sharp gains.
THE GOLD MARKET TODAY ! https://www.youtube.com/watch?v=lYWvygAbolM