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The Friday jobs report could be the trigger

October 1, 2014

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28 Comments
    CFS
    Oct 01, 2014 01:41 AM

    Big money selling in Euro and GB Pound, unknown origin at about 11 a.m. EDT. (Abnormal; pointing to probable manipulation).

    Oct 01, 2014 01:43 AM

    Gold and silver up precipitously this morning – precious metals bear trap? How much power does the USD have left? Will we see another year of worldwide production sold in 0.03 seconds on the COMEX?

    CFS
    Oct 01, 2014 01:44 AM

    Make that possible not probable above.

    Oct 01, 2014 01:46 AM

    “Big Al Talks Gold Reval” – http://www.gold-eagle.com/article/big-al-talks-gold-reval

    Sorry, wrong Big Al – this one’s name ends in Greenspan. 😉

    “In 2014, the most important statement made about gold prices is probably this one, ‘If the dollar or any other fiat currency were universally acceptable at all times, central banks would see no need to hold any gold. The fact that they do indicates that such currencies are not a universal substitute.’ – Alan ‘Big Al’ Greenspan, Sep 29, 2014.

    Writing in what is almost certainly the most influential policy-shaping magazine in the world, Foreign Affairs, the former Fed chairman discusses the very real possibility that China may embark on an enormous gold buying program.”

    Oct 01, 2014 01:47 AM

    Oil is trying to reverse that big smash yesterday also. Maybe commodities are starting to sniff out an intermediate top in the dollar.

    CFS
    Oct 01, 2014 01:47 AM

    jhpace1, the moves in gold and silver were not precipitous, i.e. not as a result of a few laege volume deals, but as a result of heavy consistent buying over several hours.

    Oct 01, 2014 01:50 AM

    If someone doesn’t knock gold/silver down significantly today they are look like they are going to run big time. Typically we have seen it knocked down at least once by this time of day.

    CFS
    Oct 01, 2014 01:59 AM

    Looking at trading volumes, the gold buying seemed mostly to originate from steady buying in London. Indeed, just before the London close there was a small close out of positions (i.e. small sale) and the price dropped. Once London closed the price continued its upward movement, which is what is happening as I post this comment.

    CFS
    Oct 01, 2014 01:01 AM

    The anomalous movement today is in Platinum.

    CFS
    Oct 01, 2014 01:24 AM

    The movement in Pt was mostly due to a $20 takedown in Hong Kong, before it closed, but was met with heavy buying. However the net effect is -$13 for the US.

    I wonder if China could do what it did to gold and silver. i.e. use paper market to drive prices down and then buy up all available physical cheaply? Surely there are insufficient stockpiles of physical to be used for this. There is no equivalent of GLD and SLV.

    Oct 01, 2014 01:26 AM

    Looks as if the PMs and miners will just continue to capitulate until the Fed raises rates.

      CFS
      Oct 01, 2014 01:04 AM

      The Fed cannot raise rates without destroying the economy. They will choose to eventually destroy the dollar. Which incidentally they have been doing for a century.)
      If they cannot raise rates, they won’t raise rates; regardless of what they might say.

    Oct 01, 2014 01:27 AM

    Where do you see gold going to and roughly how long before a reversal back down Gary?

      Oct 01, 2014 01:11 AM

      The Fed has your back…Gary S. uh ha ha ha

      Late to the party…lol. dow cow is going down.

      JJST LIKE I SAID ABOUT 2 WEEKS AGO….finito

      Real estate….A BIG FINITO !!!!!

      …oh here comes JJ …how cute been short the whole time.
      Just more fraud and a midget bag of wind…uh ha ha ha
      The boy marks the bottom in gold right on schedule. To
      the day most likely. LOL

      The bearman on his knees for JJ to return. Pleading like
      a dog in heat. uh ha ha ha

      Don’t worry JJ, he will always be a whipping boy.

      Just like you JJ…

      BTW…keyslime is all yours JJ. Bearman too.
      You can all be BUMPIN BUDDIES….

      UH HA HA HA HA.

        Oct 01, 2014 01:55 AM

        Heavy,
        The cycle is very late. Bottom is due either tomorrow or Friday and then back up we go with the market at or above all time highs by the FOMC meeting Oct. 29.

        That’s my prediction.

          Oct 01, 2014 01:13 PM

          Yippie Gary – you’re my new pal! I knew you’d come good!!! Oct 29 followed by Nov 30 when the Swiss vote to make their banks gold accountable!

      Oct 01, 2014 01:54 AM

      I expect a test or marginal break of 1179 sometime in the next several days, followed by another 4-6 week counter trend rally before gold starts back down into a final bear market bottom next summer.

        Oct 01, 2014 01:06 AM

        I will save this link Gary. This is your clearest call. Remember CBs are manipulating the gold market and there are several physical exchanges just opened recently. A lot of physical PM are up to grab. They may give up soon and retreat if they see they are losing large amount of gold reserve. Without gold, it is very hard or impossible to deafeat other currencies if they choose to gold back it. US got enemies. Hope your TA can capture what Jack and Jenet is thinking.

        Oct 01, 2014 01:16 AM

        Gary, gold yes. Very well possible.

        Gold needs a powerful rally to convince
        me. Maybe we get it. I think we do.

        Stock market I believe is going back to
        the pig pen where it belongs. Convincing
        rallies along the way.

        Remember, scared at the bottom and at
        the top shorting. One main reason stocks
        will drop off I can’t confide. Lucky guess
        and will reveal the answer to anyone that
        can.

        Thank for the info Gary. These markets are
        can be highly risky and precious metals the
        worst. Commodities incl. Really it can be all
        very bad if your not on the right side of things.

    CFS
    Oct 01, 2014 01:57 AM

    Movement of energy covered on BNN this morning:
    http://www.bnn.ca/Video/player.aspx?vid=455706

    Oct 01, 2014 01:43 PM

    My triple bottom is still in play..
    Euro headed lower tomorrow after ecb..
    Gold headed lower after ecb..
    Silver has a date with 15..
    Gold/silver ratio will rise..
    Gdx
    Gdxj headed lower
    Etc etc
    They keep sucking traders/investors in and taking them out.. Wash rinse repeat
    Bird oil is turning down.. The long time call I’ve been saying should happen rather quickly.
    I expect oil into 88’s then quick drop into 78.. Things are going to go down fast this month into elections.. Miners lookig for a bottom.

    Oct 01, 2014 01:44 PM

    Equities are turning but they are doing everything they can to hold the fort before elections.

      A couple of trillion more input….should help…….just print some more funny money, and buy………..Central Banks already have……..$21 trillion in the stock pit…….

    Oct 01, 2014 01:02 PM

    Is news of ebola in the US affecting stocks or gold in any way? What do you think folks?