Gold and silver prices are down

[richc]

 

[yogi]

Maybe I am an A-hole but don’t have much sympathy for the people in the video. But it does suck and I hope they get restitution but doubt it.

 

[Varmint]

Maybe I am an A-hole but don’t have much sympathy for the people in the video. But it does suck and I hope they get restitution but doubt it.

California allows these financial retailers to operate without being registered so they might have no FDIC or brokerage insurance.

 

[richc]

California allows these financial retailers to operate without being registered so they might have no FDIC or brokerage insurance.

Likely unregulated. The scammers are gonna scam...

The elderly and desperate are most vulnerable. But I know a couple folks, well educated, who fell for scams. Including a CPA who fell for the car accident with a drug dealer who is going to kill your son.

https://www.sacbee.com/news/nation-world/national/article289999604.html

 

[richc]

 

[Varmint]

View attachment 907669

There’s probably 100 times more “sports” nowadays.

 

[Parker Schreiber]

They stopped giving out "real" gold medals after the 1912 games.

 

[richc]

 

[DJBrad]

It’s all so tiring….

 

[Varmint]

It’s all so tiring….





View attachment 908327

Yeah but it’s very bullish the way gold can’t be kept down. The miners will follow, hang in there.

Our semiconductor company stock is down 35% in two weeks. It’s amazing how fast bubble profits can vaporize.

 

[Varmint]

It’s amazing that someone tries to dump gold and silver futures and drive it down every night. $20 drop in a few minutes but there has been consistent buying in response.

 

[richc]

Cross posted...

How to Restore the Gold Standard

Can we save the dollar before central banking kills it?

www.profstonge.com

 

[Varmint]

 

[DJBrad]

View attachment 909153

View attachment 909154

 

[DJBrad]

 

[Varmint]

View attachment 909159

gold should go up on todays economic news like the stock market. It goes down cause someone (probably the bullion banks) are dumping contracts to try to suppress gold.

 

[Varmint]

Although it could also be how the stock market rallies on good and bad news, gold doesn’t. The giant mindless robot buys stocks, not gold.

 

[Varmint]

I may run out of memes at some point.

 

[richc]

 

[Varmint]

 

[DJBrad]

New ATH of $2538 per oz on the Dec. futures contract.

 

[Varmint]

Something that shows how low volume junior miners are trading.

I put in a bid around 9:45 for GMINF at $6.45.

It bought an hour later at $6.39.

I never see that, usually it’ll sell when it hits your price, it won’t go past your price and sell below. I think literally there was one sell bid, probably at $6.39.

I bought about 1000 shares and it says 1500 shares traded today.

 

[DJBrad]

Something that shows how low volume junior miners are trading.

I put in a bid around 9:45 for GMINF at $6.45.

It bought an hour later at $6.39.

I never see that, usually it’ll sell when it hits your price, it won’t go past your price and sell below. I think literally there was one sell bid, probably at $6.39.

I bought about 1000 shares and it says 1500 shares traded today.

They basically suck except for the cashed up ones with good assets. Discovery silver just dropped another 30% today.

 

[Varmint]

They basically suck except for the cashed up ones with good assets. Discovery silver just dropped another 30% today.

Must be something specific to Discovery, can’t find any bad news.

 

[richc]

ETA: Up $51.40 to close at $2507. Silver up 69 cents/ounce. US dollar has been dropping.

Part of me wonders if this is the weekend that Iran strikes Israel. Those in the know were buying gold in anticipation of a flight to safety.

 

[Varmint]

Golds been on an uptrend for a few months now, with the yen carry trade blow up only stopping it for a week. Doesn’t seem correlated to any geopolitical events.

My thinking is that Chinese buying helped gold break decade long resistance at $2100 and it’s been technical traders (institutional investors and hedge funds, sovereign wealth funds etc) carrying gold higher since then.

Western retail investors are still selling gold. When they get a clue, the fireworks should start.

 

[Varmint]

Junior gold miner investors take heart.

We’ve been seeing major gold miners join the gold party, then silver juniors (sold off hard when the yen carry trade wrecked silver).

The last few days junior developers and producers joined the party, maybe after the Osisko Mining takeover at a 55% premium. Many were up 10-15% today.

Junior explorers and silver juniors will be next. In fact some explorers moved 10% today.

 

[richc]

Golds been on an uptrend for a few months now, with the yen carry trade blow up only stopping it for a week. Doesn’t seem correlated to any geopolitical events.

My thinking is that Chinese buying helped gold break decade long resistance at $2100 and it’s been technical traders (institutional investors and hedge funds, sovereign wealth funds etc) carrying gold higher since then.

Western retail investors are still selling gold. When they get a clue, the fireworks should start.

Praise be the Chinese!!!

 

[richc]

 

[Win]

I went to the Nashua show yesterday. There's not a lot of space for that show in the venue that they use. People are frequently getting in each others way. Everyone was kind and nice about it but it was cramped. If you don't like being in a crowded environments this isn't the show for you. There was a lot of generic gold, silver and numismatics. I really didn't see anything unusual or exciting. I bought several vintage silver art bars from Walker and Steve. I enjoyed seeing both of them. I'll likely go back Sept 15th but this might be my least favorite of the local shows.