A look back to Tuesday when the physical market for gold dried up
Remember last Tuesday when the spread between the spot price and the futures market for gold closed in on $100? Craig Hemke shares what happened in the physical market on that day.
GDXJ is trying to fill Tuesday’s big gap:
https://stockcharts.com/h-sc/ui?s=GDXJ&p=120&yr=0&mn=3&dy=0&id=t6251845298c&r=1585329437788&cmd=print
Gold is currently trading at 76 barrels of oil. The best it did in 2008 was 25 barrels. This is great news for the miners.
I remember in 1980 oil was $50 and gold was $850, 17 bbls of oil for an oz of gold.
Sounds like oil is cheap now.
Back in 1980, we still had markets
Bonzo, this is the cheapest oil has ever been. Based on the info I’ve been able to find, the peak in the 1930s was 52 barrels/oz in 1933 (and oil was cheaper then than at anytime before).
Since 1933? When the dollar was backed by gold…? Hmm
So? What is your point?
Exactly
Spit it out doofus, I can’t help you otherwise.
Even slapped with the obvious stick (you can’t help). 😂
I can’t believe I have to point this out to you but there is exactly ZERO meaning to your little observation. Gold standard or no gold standard has precisely NOTHING to do with the gold-oil ratio.
No wonder you’ve always reminded me of Phillip…
https://www.youtube.com/watch?v=yGPfCPoca04
🤦♂️
Since you seem to be so hell bent about me being wrong (instead of you being right, like most of us want to be), here’s a few nuggets for ya.
When the gold standard happens and gold falls to 1226 (and if closes below that on the weekly) and then goes to 1050. What are you going to do?
Is your head gonna pop?
You’ve dug-in real deep. And your about to find out, you’re way wrong.
The funny thing is. I could send charts and explain (not that you’d get it tho) what is going on, but it’s people like you that make people like me keep you guessing.
It’s becoming a sport, toying with you. And you do it to your self. Thanks for playing along.
You’re speaking gibberish as usual. Why don’t you get back on topic and explain what the gold standard has to do with the gold-oil ratio? If you weren’t an imbecilic child, you’d want to explain to the good people here who also don’t have a clue what you are talking about. Make yourself useful for a change instead of dropping your silly little hints about your fantasies.
Macro Voices, the best! This listen is good and great listen on the subject of gold:
https://www.macrovoices.com/ recording #212.
How much money will Pelosi and McCarty make out of the Virus Bill……..??????
https://www.zerohedge.com/political/house-clears-2-trillion-covid-19-bill-trumps-
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It’s pretty clear now, with enough members here to pass the bill, that Pelosi and McCarthy are still working together to block a recorded vote just to insulate members of Congress from ACCOUNTABILITY.
Politicians should not be allowed to own any stocks…………
Yes indeed. Printing new money out of thin air so companies, governments and individuals already drowning in debt can borrow more money is the prescription for saving the economy! Free money for everybody!
Sheeple just got robbed again…………hello…….
You get $1200………they get $5.6 TRILLION, and guess what…..You own all the $6 TRILLION……
This could be planned.
Its purpose could be to bring down the empire.
There are only 2 ways it could happen, economically or war.
War could end life on earth so this might be the lesser of evils.
We must learn to trust our elites. 😉
Sheepl are asleep………even on this pod cast…….
Hey Jerry, what’s for dinner?
I’d say all the pork you can eat….$2 trillion worth…and that’s probably just the beginning.
Pork…it’s what’s for dinner…every night…when you live in bail out nation.
Ebo………you might want to listen to the pod cast below ….on the 5 G in your area, and how it effects the viru…..in dense areas of population…..
That pork is courtesy of Franklin Delano Trump.
Ebolan:
I thought Big Al was going to give me the boot after I called out his buddy Jim M.
Thanks for your comment.
5 g,,,,,,,and small towers to be deployed via ELON MUSK……….
The virus is a SIDE DISTRACTION,
https://www.youtube.com/watch?v=zp6JaB038RA
Wifi………..in schools……..this is a take down…….
Your kids are going to get brain waved attacked………hello…….sheep…time to wake up
Craig is the very best interview in the PM sector.
Ebay has ALWAYS been more expensive when it comes to silver.
Solid comments, Craig!
I think you’re correct about derivatives controlling price. Just like they did 10 plus years ago with oil. This could be the end game of that whole deal we are watching play out.
I always knew that the price discovery was the derivatives. There was no supply/demand issues when oil hit 140$ back then.