^ ? Must be some sort of glitch then? btw, hows that nice sniped geomin bar going? spewing about that :/
No glitch because after you posted and while the markets were all closed the $au dropped silver dropped & gold dropped. Not sure how that works? especially if the $au dropped silver should have gone up not down?
FX markets are open during slightly different hours and the commodity prices go between the bid/ask on the graphs, this is the closest thing to a glitch. Nothing untoward and every time there's a market close, this topic comes up. Geomin is going nicely, lovely bars. I'd love to find a 1oz Gold one....
Then how can silver go down more in $au when the $au went down against the $us? this would have shown as a bigger drop in $us silver price but it did not show that way on the charts? Silver down us 1c at close Silver down au 7c at close , au$down from us 73.5c to us 72.5c at close?
Because you're looking at the 'spot price' not the bid/ask which is the actual price spread between buyers and sellers. The same thing exists in FX markets as well, therefore if the graph software uses an average of the bid/ask for one price (say Silver) and the bid or ask price for another (eg AUD/USD) you can get discrepancies between the figures. I believe Bron Suchecki posted on his blog about bid/ask spreads awhile back. Basically the 'spot price' doesn't exist per say it's simply a figure between the bid/ask prices and this makes it easier to graphically represent on a chart. Hence why the London Fix was quite important for large traders as they need a figure at a particular time to finalise their trades that all counterparties could agree to. The bid/ask spot market still operates concurrently while the fix price is being determined. Most of the graph software for 1yr and beyond I'd say would use the London Fix prices as the dataset, as opposed to a daily average of the bid/ask prices, so the London Fix does have utility beyond the 'manipulation of markets' that many say occurs.
Thanks I dont do charts so if they are not a true depiction of the market then pointless me looking and trying to make sense of something that makes no sense.
And sometimes it takes a noob to remind all the so called experts there is no such thing as "back -to- the future" no matter how many charts you follow and how far back they go. If all the so called experts were right on their chart knowledge and previous trend scenarios then the fed would no longer exist the uS would be broke all the western economy's would be in melt down and a Russia/china alliance would be in control with India backing them up. Guess work is all it is with or without historical charts and trends, uS interests rates go up aussie dollar goes up? Reverse lol aussie dollar goes down against the uS dollar silver goes down in aussie dollars? Reverse lol
It's a pretty thin market out there, nothing to see. Everyone closed out most of their positions before going on holiday which was the bounce we saw on the 23rd/24th. So it's not at all unexpected to see this movement, easy way for the junior traders rostered on during the holidays to make some cash. That said, if spot hits $18.9x then I will probably have a go at it on my FirstGold account which means a cost price of under AUD$20. FirstGold is an interesting offer, a hybrid unallocated/allocated account with free delivery in the standard bars. One of the best offers for me based in Sydney, but I can understand that those in WA would prefer Perth Mint Depository or maybe Perth Bullion. One day I will pull together the information I collated on all the allocated and unallocated programs with dealers that I found here and will post up the information.
Happy brew year. Pirates of the world, Here are my top predictions for 2016.. !. The AUD will drop to 60 USD..............wrong 2. TURKEY WILL HAVE A MILITARY COUP...right #3 UROPEAN UNION WILL collapse...Brexit on the way 4. IS will be beaten........right in Syria....wrong in Iraq 5. AFGHANSTAN will descend into civil war.......right 6. Australian stock market will drop to 4500......wrong 7.Cruz will be the GOP winner for the Presidential nomination....Didn't know that Trump was a wild card......:| 8.The price of silver will rise above $22 AU.......just made it...right 9. The price of oil will continue to fall unless conflict occurs in the ME.....hard to tell if I was right or wrong! 10. I EXPECT to get at least 50% of these predictions right because I am an expert in these matters. I will post the results in a year's time so that that you can also see my physic powers AK R 43 3right / 4wrong/ 2 maybes
Nice effort errol, but you are doing it wrong. You are supposed to leave a link that we can use to "sign up for a newsletter"with the updates and charge us a small fee.
Because the US Stock Market just opened, and it is crashing fast - at 9:30am, the DOW is already down 425 points - acccording to the pundits, today's opening is "the worst in 84 years". Probably just a shake-out on the first trading day of the year, but PM prices tend to move in the opposite direction.
Monday's wave of selling began in Asia. Trading in China was stopped prematurely after circuit breakers were triggered during their first day since they were implemented. The benchmark Shanghai Composite plummeted nearly 7%. The Shenzhen Composite, often compared to America's Nasdaq index because it's home to many tech companies, nosedived more than 8%. The Middle East tensions are already causing turbulence in the oil markets. Crude oil prices initially spiked more than 3% and returned above $38 a barrel. But oil has since retreated and is now down 1% to about $36.75. http://money.cnn.com/2016/01/04/investing/stocks-markets-dow-china/
