gold and silver to pop monday?

stellaconcepts said:
gold is currently trading at a $2.50 spread on my trading platform (IGMarkets). It usually trades at a 50c spread... thats 5 times spread :) gives you an idea of the volume that is currently going through.
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Sorry, can you please explain for noobs like myself.
Larger spread is due to high volume or low volume?
I thought larger spread usually is due to low volume (less liquidity).. but it doesn't make sense in this context.. :/
 
1021_cypress_tree.png

nice green Cypress sapling growing there in that forest

Funny how these things always get announced post trading close, real leg up for those struggling insiders :|

http://www.zerohedge.com/news/2013-...aircut-bailout-turns-saver-panic-bank-runs-br

Late last night, after markets closed for the weekend, following an extended discussion the European finance ministers announced their "bailout" solution for Russian oligarch depositor-haven Cyprus: a 13 billion bailout (Europe's fifth) with a huge twist: the implementation of what has been the biggest taboo in European bailouts to date - the impairment of depositors, and a fresh, full blown escalation in the status quo's war against savers everywhere.
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pop and then drop.. think $15 bucks up is as far as gold has gone for what seems like ages before retreating back nullifying gains.. almost like the PPT intervenes before a breakout.. agree the biggy up may in fact be tomorrow

1for1
 
Lunarowl said:
stellaconcepts said:
gold is currently trading at a $2.50 spread on my trading platform (IGMarkets). It usually trades at a 50c spread... thats 5 times spread :) gives you an idea of the volume that is currently going through.
Click to expand...
Sorry, can you please explain for noobs like myself.
Larger spread is due to high volume or low volume?
I thought larger spread usually is due to low volume (less liquidity).. but it doesn't make sense in this context.. :/
Click to expand...

Extreme conditions either end (extreme high or low volume).... I'm presuming in this instance its the high volume :)

Brokers have to insure themselves in a fast moving market... the time of client side execution and actual market execution despite being milliseconds, can have an adverse impact for the broker in fast moving markets.... hence the increase in spread.
 
1for1 said:
pop and then drop.. think $15 bucks up is as far as gold has gone for what seems like ages before retreating back nullifying gains.. almost like the PPT intervenes before a breakout.. agree the biggy up may in fact be tomorrow

1for1
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It will be interesting to see what happens the rest of this week as the fallout continues...
 
Eruaran said:
It will be interesting to see what happens the rest of this week as the fallout continues...
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IMO this will trigger preemptive bank runs in a few European countries.
 
Insomnia just caused me to browse to kitco and thought WTF? So I came here to see what's up (except for the PM prices). So, apart from stellaconcepts' spooky prediction, it's interesting that you have to visit an Australian website to see what's happening ein Europe. I don't know how often I've seen the Pope stumbling on TV in the last few days :rolleyes: but this 13bn bailout for Cyprus that was granted by Her Majesty was mentioned only in a side-note, and not a single word about this 10% impairment. This is going to be an interesting week....
 
Let seem what happens tonight when Spain and Greece wake up! If it was me living in one of those countries, I would be getting very worries and be moving my deposits out.

This could be the start of a chain reaction. Be interested to see how this gets contained.
 
I agree with the risks of bank run. If in Europe I'd be emptying my bank account into something unleviable as fast as I could. The alternative is under the bed - anywhere but digital numbers which can be raided by the EEU.

Look at the bank runs across the USA in the thirties and the contagion there - and all the people who lost it all assuming that 'everything will be OK'.

Before the big one there's always a few rumbles and sometimes the rumbles are only a day or two apart.
 
JulieW said:
The alternative is under the bed - anywhere but digital numbers which can be raided by the EEU.
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Many Greeks have already been moving their cash out of banks for the last few years. Mattresses nice and firm over there now.
 
Well it must be something major if my wife tells me about it after she heard it on the radio.

I can't see the price of Gold and Silver changing much though.

These are savers not investors who are being hit, they have their money in the bank earning little to no interest because they don't know what else to do with it. I can see there being a run on the banks across the whole of europe but I can't see people rushing out to buy gold. Most likely it will be kept at home as euros.

Really worrying that your government can overspend, and then a foreign power can raid your bank account and give your money to the same government that blew the last lot.
 
Jislizard said:
Well it must be something major if my wife tells me about it after she heard it on the radio.

I can't see the price of Gold and Silver changing much though.

These are savers not investors who are being hit, they have their money in the bank earning little to no interest because they don't know what else to do with it. I can see there being a run on the banks across the whole of europe but I can't see people rushing out to buy gold. Most likely it will be kept at home as euros.

Really worrying that your government can overspend, and then a foreign power can raid your bank account and give your money to the same government that blew the last lot.
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I agree Gold and Silver Can get Taken Down easy using futures instruments so no real spike is possible unless its controlled .. but Bitcoin is beyond their control so id say we will see a spike as people plough into honest money.. but physical gold/silver in europe will surely start to get mad tight.. i dont imagine EU citizens will be buying paper contracts given the fact the bullion bank run will be next.

1for1
 
Silber,

I am looking forward to seeing what Nigel Farage has to say at the next EU meeting
about Cyprus.

Would expect him to rip them to shreds.

Below is a speech he only gave a few days ago and his concerns about opening up
the UK borders to Bulgarian and Romanians in 2014. I liked how he came back at
the Bulgarian MP with facts and statistics in the UK of the spiralling crimerate associated
in particular with Bulgaria.

[youtube]http://www.youtube.com/watch?v=V72mZCDwmY0[/youtube]


In reality, the average person no longer trusts the self appointed members of the EU
nore their governments and financial systems.

Sooner or later its going to come crashing down.

Given the utter irrational stupidity and complete contempt for the average citizen by these
corrupt scumbags, it might be sooner than we think.

Is Cyprus the reactionary testcase?
That to me is the most important question.

Cheers Markcoinoz :cool:
 
Hoth25 said:
Panic Over!
Olly Rehn assures EU citizens it won't happen to them...promise!
http://www.bloomberg.com/news/2013-...e-stability-fees-on-euro-bank-depositors.html

/sarc
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Asked whether a future EU-mandated bank levy can be categorically ruled out, Rehn said that "it can and there is no concrete case where it should be considered."
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Sounds like this guy is from the same DNA as Gillard when making promises...
The giveaway is the name they have dreamed up for thieving:
"stability fee"
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The trend was clear in the last 3 years that they will start taxing the net worth on top of the income. This should be nothing new to anybody here.

What the banksters are doing right now is brillant and completely in line with the secular wealth transfer of the Long Wave.

- They're testing first with a junior to see what tweak to be done next AND they're poking the russians, who are too good chess players to fall in the trap. Not the time to move for them, not yet, but they might fake something.

- They diverting attention from the significant stuff: the giant sucking sound of wealth (gold) going west to east, faster by the month, while 11 000 new people get on the food stamps every day in the us.

the end game is still the same and is becoming more obvious each passing day.

Brilliant.

This is just business as usual, better get used to it, and better learn how to deal with the MASSIVE volatility coming our way.

http://forums.silverstackers.com/topic-37731-european-collapse-and-the-coming-gold-rush.html


p.s. all this is inconsequential to the price of gold/silver as it will stay stuck in a trading range until september/october. then, watch out. so time to load up if you haven't done it yet.
 
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