Gold and silver prices are down

Other risk on assets are in big demand. 10 year treasuries:

export-MVFqv%20(5).1565180777388.png
 
Yep. First time since mid-June 2018.
August of 2016 it broke $20/oz.
Might have the oomph with the tariffs...
 
And up and on past $1505. WTF is going on?

Gold is such a small market that if the big money decides "maybe I should sell some stocks. What should I buy now? Oh, what's been outperforming stocks? Bonds and gold."

The gold mining stock rally appears out of gas, so I think gold may pull back for a few days or weeks. But we could hit $1550 first. :)
 
Armed Men Steal $2.5 Million In Gold Coins From Mexican Mint (Casa De Moneda)

"The armed robbers were described as “clean cut, young looking men” and are said to have stolen gold coins, watches and other valuables. One robber reportedly filled a backpack with 1,567 gold coins, each of which are valued at about $1,610, according to Mexican bank Banorte. This would put a price of at least $2.5 million on the robbery. Local Mexican media is reporting that the stolen items were worth up to 50 million pesos, or about $2 million U.S."
 
Armed Men Steal $2.5 Million In Gold Coins From Mexican Mint (Casa De Moneda)

"The armed robbers were described as “clean cut, young looking men” and are said to have stolen gold coins, watches and other valuables. One robber reportedly filled a backpack with 1,567 gold coins, each of which are valued at about $1,610, according to Mexican bank Banorte. This would put a price of at least $2.5 million on the robbery. Local Mexican media is reporting that the stolen items were worth up to 50 million pesos, or about $2 million U.S."

On one of the podcasts I heard, someone said that gold thefts and scams would go way up as the price rose.
 
Armed Men Steal $2.5 Million In Gold Coins From Mexican Mint (Casa De Moneda)

"The armed robbers were described as “clean cut, young looking men” and are said to have stolen gold coins, watches and other valuables. One robber reportedly filled a backpack with 1,567 gold coins, each of which are valued at about $1,610, according to Mexican bank Banorte. This would put a price of at least $2.5 million on the robbery. Local Mexican media is reporting that the stolen items were worth up to 50 million pesos, or about $2 million U.S."
That’s a strong backpack. Over 100lbs on your back leaving a crime scene is no joke.
 
Another interesting day where gold was up a lot ($14), silver up a similar amount, while gold/silver mining stocks sold off hard.

This is interesting cause you rarely see this. Maybe it's just profit taking in the mining stocks, and a short term fear trade in gold, but another possibility is that the physical gold market is starting to take over the paper market - so that gold ETFs like GLD can no longer be manipulated down on a whim by the commodity futures brokers.
 
Gold spiked up through $1530 this morning and then subsequently crashed back to the mid 1480's. It's now back to about $1500.

Lots of volatility. Someone was selling big at these new highs.
 
Gold spiked up through $1530 this morning and then subsequently crashed back to the mid 1480's. It's now back to about $1500.

Lots of volatility. Someone was selling big at these new highs.

China tariffs got delayed this morning.

They won't allow the markets to drop more than 2-3%.
 
Gold really flatlined this afternoon. Bizarre how is could be so volatile in the morning and dead after lunch.

t24_gold_en_usoz_home_262_130.gif

$1500 is a key level and it held very impressively today. But nothing goes up forever and gold should retest $1400 soon. If so I'll buy whatever (PMs, stocks) I can manage!
 
What do you think might cause gold to fall back to $1,400? I don't see anything that might cause that. All the data I see is bullish for gold. Having said that, I'm more frequently incorrect than correct [laugh]
 
After yesterday's precipitous fall in gold prices it's obvious that the China tariff situation is responsible for some of the lift in the price. But I don't see that getting resolved.

IMHO Trump is crazy like a fox. He knows he's hurting the Chinese. He's playing a long game of playing dumb and squeezing where necessary.

An old friend from high school went on to become a lawyer of some success (well until he beat the crap out of his wife and fled the US...). He always shared stories of how much he enjoyed litigation.

He said his goal was to get his opponents nuts in a vice, and once so positioned, he got great pleasure out of turning the handle 1/2 turn at a time. Slowly he would inflict increasing levels of pain until the other side said Uncle.

Me thinks that's what Trump is doing to China.

What do you think might cause gold to fall back to $1,400? I don't see anything that might cause that. All the data I see is bullish for gold. Having said that, I'm more frequently incorrect than correct [laugh]
 
What do you think might cause gold to fall back to $1,400? I don't see anything that might cause that. All the data I see is bullish for gold. Having said that, I'm more frequently incorrect than correct [laugh]

It'll be just a technical trading selloff, short term momentum traders getting impatient and taking profits then getting back in at major support.
 
Back
Top Bottom