doctor_fungcool
TB Fanatic
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ECON Gold and Silver news
- Thread starter Doc1
- Start date
doctor_fungcool
TB Fanatic
We all are seeing the collapse of our empire.
...the pm rally is merely a precursor to other events that will be very disturbing.
...the pm rally is merely a precursor to other events that will be very disturbing.
doctor_fungcool
TB Fanatic
Central Banks Are Buying The Gold Top
FRIDAY, APR 12, 2024 - 09:15 AM
Via SchiffGold.com,
In investing, “Buy low, sell high” is among the most well-known sayings, and generally, it’s good advice. But with gold still holding near its historic all-time highs, central banks led by China are bucking the classic adage and smash-buying more, buying the top to fortify themselves against a global monetary and financial blow-up.
Hfcomms
EN66iq
Unfortunately true. For the metals this is only the warmup phase. We are paying attention to this move, the Federal Reserve and other national governments are paying attention to this move but the U.S. public is still unaware and the business networks are giving very scant coverage if any at all.
When this catches the attention of the public and they realize the dollar is in trouble, available inventory will disappear in less than 24 hours and then the moves become parabolic. At that point the rising prices won’t just reflect that the dollar is in free fall but will be driven by panic and a true supply/demand relationship and prices will reflect that.
We will really not believe where the prices are going.
doctor_fungcool
TB Fanatic
Spot on my friend
 "gold_chart")
 "silver_chart")
Southside
Has No Life - Lives on TB
We are at the shorts are getting crushed stage.
They have really deep pockets, and access to a printing press. Don't use leverage.
Southside
Has No Life - Lives on TB
100%. The dollar is up to 106, 75 bips on the day.
If the dollar were flat today, we would be up 100 in gold. Ok, maybe 80
von Koehler
Has No Life - Lives on TB
Central Banks Are Buying The Gold Top
FRIDAY, APR 12, 2024 - 09:15 AM
Via SchiffGold.com,
In investing, “Buy low, sell high” is among the most well-known sayings, and generally, it’s good advice. But with gold still holding near its historic all-time highs, central banks led by China are bucking the classic adage and smash-buying more, buying the top to fortify themselves against a global monetary and financial blow-up.
Central Banks are notorious for buying at tops and selling at the bottom. Ask England about their last major selling of gold bullion.
They are politicians after all, using their taxpayers money.
Doc1
Has No Life - Lives on TB
I have lived through a couple of precious metals manias. The first was the 1979/1980 moon shot when I was fairly young and while I did spectacularly well, I didn't do anything especially intelligent with the proceeds except to party hearty.
I know what comes along with the metals mania and the metals are only a symptom of the deeper rot in the system. A lot of precious metals commentators tell people to be looking for high metals prices that they won't believe and while that is almost certainly true, the corollary will be inflation that you won't believe, either.
Expect your grocery and other cost of living prices to go to the moon. We're already getting a taste of this now. If you are at all able, put more food and other necessities away now. My pet peeve is that most preppers do not store fuel. Fuels will skyrocket in price, too. If you can do it safely, store gas and diesel, but don't forget about other fuels. These include everything from lamp oil to propane to coal and firewood.
Expect a coming sticker shock when the gas man, the coal man or your firewood guy answers the phone. It's coming.
Best
Doc
I know what comes along with the metals mania and the metals are only a symptom of the deeper rot in the system. A lot of precious metals commentators tell people to be looking for high metals prices that they won't believe and while that is almost certainly true, the corollary will be inflation that you won't believe, either.
Expect your grocery and other cost of living prices to go to the moon. We're already getting a taste of this now. If you are at all able, put more food and other necessities away now. My pet peeve is that most preppers do not store fuel. Fuels will skyrocket in price, too. If you can do it safely, store gas and diesel, but don't forget about other fuels. These include everything from lamp oil to propane to coal and firewood.
Expect a coming sticker shock when the gas man, the coal man or your firewood guy answers the phone. It's coming.
Best
Doc
WTSR
Veteran Member
Always remember that it's the Petro dollar so when oil explodes like the price of gold then you know we're toast.
Southside
Has No Life - Lives on TB
Oh, we're toast. Just not yet.
CaryC
Has No Life - Lives on TB
Last I saw a day or so ago oil over 90.00 a barrel, and then I went to town and gas was down some 0.30 - 2.79
Southside
Has No Life - Lives on TB
Still up on the day, just lost "the froth"
Hfcomms
EN66iq
The Federal Reserve will just go deeper into the red. They can push paper futures as much as they want and the traders are using the arbitrage to sell the physical to the east at a handsome profit. But sooner or later the cupboards are bare and the price movements lately tend to indicate there isn’t a whole lot of the real stuff left in the vaults.
desert_fox
Threadkiller
I expect some profit taking today is why it is down from the highs.
von Koehler
Has No Life - Lives on TB
15:31 minutes
Gold up on Iranian war fears? Wars in other places? Historically, people flock to gold during wartimes.
Gold and silver go up or down based on the public's confidence in their government (who issues the fiat currency). Presently faith in public institutions is reaching record all time lows. So it's reasonable to flee to real physical assets outside of a government's grasp.
The ratio of fiat money to physical gold has nothing to do with price changes.
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von Koehler
Has No Life - Lives on TB
Elliott Wave analysis has numerous targets at around the $2,500 level.
Plan to hold longs. There will be bumps along the way.
Plan to hold longs. There will be bumps along the way.
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Southside
Has No Life - Lives on TB
Well, called that change.
We will continue the relentless march up next week.
Tristan
Has No Life - Lives on TB
Trust is often misplaced.
naegling62
Veteran Member
WTH just happened?
Hfcomms
EN66iq
It’s called naked shooting a paper futures market that can create billions of dollars with a keystroke. Has nothing to do with actual metal or supply and demand.
It is what happens when the market is contaminated by the mixing of physical and digital (ETF) PM markets.
von Koehler
Has No Life - Lives on TB
The stock market is taking a big hit today and gold doesn't trade in isolation.
All markets are interconnected.
All markets are interconnected.
Johnny Twoguns
Senior Member
Tomorrow is Saturday. We'll see more when the futures markets reopen Sunday evening.
Summerthyme
Johnny Twoguns
Senior Member
Darn, you are correct. Well then, today told the tale. I wonder what it cost the shorts today to try and tamp this wildfire down. I wonder if it will just wet the apatite of the BIG players who didn't mind paying a few hundred MORE per oz to get at the physical.
von Koehler
Has No Life - Lives on TB
Gold will have a corrective period; a trading range both up and down for awhile.
When that plays itself out, the push for all time new highs will commence.
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Doc1
Has No Life - Lives on TB
We might get a hint on Sunday evening...or we might not. The weekend access market is the domain of the big money players, not the retail investors (and by that I'd include whoever is the wealthiest member of TB2K...it's certainly not me BTW ;-). I've seen the Sunday evening markets fake out too many people too many times.
You are only - possibly - going to get in serious trouble if you make irrevocable financial decisions based on the Sunday action. My advice would be to wait until you see a serious trend on - at least - Monday to move any money. The good news is that even if you make any relatively minor mistakes based on the Sunday/Monday action, they're not going to be fatal. This precious metals market has a long way to go.
In a previous post on this thread, I said that we're approaching the mania phase. "Approaching" is the key word; we're not there yet.
Best
Doc
Totally agree.. I was just basically pointing out that there wouldn't be any numbers available until then...
Summerthyme
Johnny Twoguns
Senior Member
A silver contract has 5000 oz. This is a claim that BOA has 160,000 Contracts to short. That is a claim that BOA is risking having to come up with almost a years worth of phycial silver, or risk loosing a ton of money in a super viotile market. I have my doubts. However, who knows? All these Western entities are owned or controlled by the same powers, and those are throwing corporations away like candy wrappers while trying to enforce their agenda (nee Bud Light etc).
On the other hand, plenty of people claim Phil G is a massive fraud. I never listened to him other than maybe 15 minutes when he first showed up; it was enough to convince me not to waste my time with his grift.
Just like DOCTOR charlie ward, X22, SGanon, etc, shows up out of nowhere, makes millions off desperate believers and when they start to lose their audience of hopium addicts, a new one pops up like a mushroom.