What the hell happened on the US Silver chart...^^^^^^down^^^^^^down etc...Like the waves on the ocean. It could have been the whiskey, might have been the gin, probably the bundy rum for the stat I'm in. AK ER 43
This happens every long weekend/holiday period. Simply the graphs going a bit nuts between the ask/bid prices because no one is trading.
It's all to do with iron ore shipments, prices, things happening in China and some better than expected local data including higher than expected credit card spending which is apparently a good thing. The only reason they haven't already started talking it down and lowering rates to get back to a level the RBA would like it's because they're concerned about overheating property markets and retirees. Even with a little easing in primary resource prices 77c is a job killer. What they do about it I couldn't say. But there's a lot of big job, big FDI and local investment projects that are on the bubble and a 10% saving on things like wages makes a lot of that viable. Hard to imagine it going much highet without some real strangeness on the US side. They'll have to hike eventually even if it means another 12 week market hangover. I just don't see 80c aussie unless something out of the ordinary happens, they don't want it and almost everyone who can impact the price outside of traders is gonna try and get it down so...see 77 and short in case metals get cheap again usd wise, maybe buy some platinumn.
Pirates get ready to sail. Silver on the rise in US & AU$...AU $ rising gold holding... Wait till NY opens to see if these prices hold? AK ER 43
I wonder if we will ever see the good old days when silver jumped over$1oz overnight. May well come again. AKER 43
Visit the link for the chart. It makes for interesting viewing. I am still weighing the consequences of the POG and POS being established by a multi-hundred to one leverage to paper contracts. The arrival of China to the gold fixing markets is of little help, considering that the low price of gold assists their plans, and it is very likely that China has been one of the major manipulators of the paper market to assist their shipping physical to the East. I think it was Jim Rogers who said that one needs to understand just how powerful the Chinese rulers are and that if they decreed all physical gold to be deposited in a local vault, then all gold would be in those vaults. Perhaps this means that the POG will gradually rise in the physical markets of China once the comex defaults often enough that faith in the paper is lost. In the meantime it's a better watch than MKR.
