Gold Just went over Platinum, Silver went up a buck.. monetary metals have very much liked the Swiss De-peg... which seems to have only accelerated the bull market commencing jan 15 Where were you 15th January when you heard the Swiss De-peg news? https://www.youtube.com/watch?v=vyFs4TzDvcg
Yes, very interesting. Swiss peg policy was announced September 2011, pretty close to Gold's high. I going to buy this break. I have not trusted the FED reserve people for quite a while, the Swiss example is why. Keep stacking!!
Exciting times when silver goes up a buck a day.. we saw it plenty in the last bull run up.. might have to get the popcorn machine out lads..
So you're all getting pretty optimistic eh? That's good to hear. Silver can go up a dollar and it has zero effect on me now, so I'm reliant on vicarious experience. Like someone who's had a car accident, incurred brain damage, and cant feel hot or cold anymore. Where do you think the bull market will go from here?
or, because I bought 10 ounces of silver when it was $30 oz, my loss just reduced by $10.. 100 oz $100 1000oz $1000 etc etc...
I suspect there will be some type of growing fiat-contagion which seems to be picking up as a consequence of USA imposing trade sanctions of countries like Syria and Iran, Russia - who have essentially been painted into a corner of finding another method of which to trade and import necessities etc.. Gold has been the vehicle of choice. I think we can see more demand for gold as central banks look to follow Switzerlands lead and end the follie which has been to print their way to prosperity and economic trade advantage.. the fiat-tea party is over in Europe is the sobering truth about the printing is coming home to roost to the tune of 30% devaluing.. when will US$ fiat devaluing also come home.. oh it has.. hence the sharp drop in US$.. just expect more transparency as the unintended consequences and cracks start to show on the fiat empires when participants start to drop out of the game at random causing devastating ripple effects.. Just wait till there are combined attacks on the US$
To be honest... yes, i have just entered the share market for the first time ever, specifically to get exposure to the gold mining penny stocks.. a highly depressed market right now.. I did intend on making them a medium term investment but have already got the trading bug and am tempted to take profits or may be at a later stage.. I think its worth it to be on the long side of gold at the moment, i am risk on
http://www.cftc.gov/dea/futures/other_lf.htm http://www.kitco.com/LFgif/ag2015D.gif 13/01/2015 46804 $17.00 Producer/Merchant/Processor/User Long 20510 Short 50017 SwapDealer Long 29449 Short 46746 ManagedMoney Long 44293 Short 16190 OtherReportables Long 15515 Short 3679 SmallTraders Long 20266 Short 13401 Price is now $17.77. Every price dollar is about 70 Moz or 14000 positions of 5000 ounces. $0.77 higher corresponds to +10780 so the futures 99%-delivered-in-dollars-not-metal paper position is now probably 46804+10780=57584. http://finviz.com/futures_charts.ashx?t=SI&p=w1 That's a peak one. They're adding $4 to the ounce price. If you buy a tube ASE's that's $100 into their hedges pockets. Next weeks will show how many ounces got sold in the cash market. The ETF Ishares Silver Trust so far sold 25 Moz in the uptrend since december. Next 6 weeks Down 4 Bucks?
I don't think $17.xx is going to equate to 72000 sold contacts, it's not profit taking time yet. Plus, the market is shaky as all get out and one more little hiccup could put a $50 chili pepper up gold which will take sliver with it. If anything I think this intermediate price with uncertainty in the horizon will cause shorts to be closed out adding upwards pressure. Ill bet you an ounce, Pirocco, that we don't see $4 down in the next six weeks but will stay within a $2 trading range higher or lower. * prize does not include postage to the EUSSR but it will be your ounce, allocated, here in australia if you ever have to flee moderate socialist oppression in your homeland.
That's what they said in april 2011 at $49. That's what they said in september 2011 at $43. That's what they said in february 2012 at $37. That's what they said in october 2012 at $35. That's what they said in january 2013 at $32. That's what they said in august 2013 at $25. That's what they said in october 2013 and february 2014 at $22. That's what they said in juli 2014 at $21. That's what they said in december 2014 at $17. And while they're saying it, they took profit. Every ounce sold high requires an ounce purchased high. Maybe this time is different, your statement has some supporting elements (alot multiyear highs/lows around). But what else than another temporary story would it be? You bet an ounce that we don't see $4 down in the next six weeks. Let's dig the ounce and just stick to the bet. Suppose you win it? Then what? Suppose you lose it? Then what? If the price gets indeed driven down to low $13, no matter six, seven or 52 weeks, then my decision, as a simple plain silver saver, to wait, was the good one. And btw, where did you get that 72000 figure? With 13/01/2015's situation as a reference, other things equal, $17.7 would correspond to a figure below 60000 (57584). Now tell me who is gonna buy more silver, as to explain your higher price without higher total net position? In some past, ETF's took that part of the job. Since 2012, they ceased. All we see since is some 30 Moz sized fluctuation on a total that is over 10 times bigger. And, don't focus on this or that (the shorts, the longs). Focus on the total net of them all. Because these futures market story elements, have cash market counter-elements. That's what hedging is: receiving compensating dollars for a price that is driven against your cash market position, and also losing windfall gains if it's driven to your advantage. What you name as "shorts to be closed out adding upwards" is just another temporary story. It adds to the price direction (and increases the fluctuation amplitude) only during the closing out itself. Then it's over. It's not like a permanent effect on the price. And normally, it's the very act of closing out that drops the price. If it doesn't then it's because the market runners have trouble handling things in time (high volatility), which they then solve by increasing margin requirements until it's over. Pirocco going for $13.low. Dollar/euro fluctuations are temporary stories too, forced by central planning (snake in the tunnel). It's just ago from earlier 2014 that the newspaper here titled that the Euro was too strong and that it hampered export. The central banks took measures. We're now less than 1 year further and the situation became the exact opposite. At the last $15.4 occasion, a kilo coin here costed 530. At the previous $15.4 occasion, it costed below 500. Because dollar/euro changed, a same $15.4 delivered less silver. One should buy when his currency is "high". But the silver price level is driven with it, simply cause to consequence. Yet, the trend reversals itself are usable points.
Does Pirocco often refer himself in the third person? Psychologists say that this is often associated with narcissism
its only up a small buck, wait till the bigger bucks fly > 2 paragraphs of comments are just too long winded, and get hit by the scrolling up.
Psychologists say alot. Plenty criminals released from prison after being declared by psychologists as okay. And then they arrest them again, for the same, or worser crimes. Next question is, what do psychologists say about people that listen to psychologists?
SilverPete hopes the AUD stays above 80c if silver drops to $13. SilverPete thinks the AU mining sector (Copper, Iron ore) might tumble too and we have no economic fallback plan because we have the government we deserve.
I'm very new to this, I just got in this week at 16.96 for ASE. I think that we should see a rise in silver based on this: http://www.indexmundi.com/commodities/?commodity=silver&months=240&commodity=crude-oil Notice all the points where silver is up and decouples from oil on its downward move. Jan 1997 Sept 1997 Sept 2005 Sept 2008 Nov 2014 It certainly is a sign of worry in the markets. This may be 100% BS but sure looks like something to it.
I meant 56,000 contracts sold (don't ask me where I got 72k). Even so, calling $4 down is basically saying there won't be any more surprises in the oil price, FX shock, EU crisis (Greek elections anyone?), energy bond market or anything else people aren't even paying attention to yet. In the market climate at the moment things that might have been a littler bump in the road 6 months ago are going to be taken as big issues today and could cause another flight to safety. Even when things were looking much, much more sunny in the world a few months ago we hit $3 below where we are now for what, 3 seconds? Because it was so obviously cheap even then when everyone hated PMs that buyers washed the price out. When the big financial media outlets are starting to run "is gold glittering again?" articles I just don't see any short/sellers getting the price down $4 in such a short time frame. There would be a big scared and hungry market for anything under $15, much less $13.55, but I don't think we'll even see $15.00. I also think that it will only take one more piece of bad news to force the fed's hand and keep rates low. If that becomes clear you can price a nice bump into gold and silver. It's not to the moon time and we will probably see some real price drops in that time frame but I think we're past worrying about $4 price drops in the next little while at least. I'm confident enough that I'll include postage on that ounce if you want it and we hit $13.77 in the next 6 weeks. Worst case scenario your right and I get the best buying opportunity of recent memory.
Gatito Bandito just hopes spot doesn't get whacked again anytime soon. Gatito Bandito's wallet needs a rest..
