Midnight to 6am - Overnight Spot Watchers Spot...

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
 
I'm more intrigued by this:

24720_gold_1d_o_usd.png
 
This happens every long weekend/holiday period. Simply the graphs going a bit nuts between the ask/bid prices because no one is trading.
 
screaming eagle said:
This happens every long weekend/holiday period. Simply the graphs going a bit nuts between the ask/bid prices because no one is trading.
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The PPT usually fix it, but they're currently busy stealing chocolate from babies.
 
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.


If and when gold breaks out of this cup and handle formation, which is a matter of probability and not certainty, the next real battleground in a new bull market will be around $1550. One of the more interesting variables will be the manner of any breakout, and the 'time' it takes to reach a minimum measuring objective.

This is quite appropriate as 1550 marks the major support level for the channel in which gold had been moving prior to the recent bear market.

A successful cup and handle formation, should this occur, would mark a bottom for gold and quite possibly a resumption of another leg of the bull market.

It will be interesting to see how the future movement of gold as a cross to the US dollar may unfold. If the money masters were wise, they would permit it to rise back into the old trend channel and seek to find a balance in the wagers with the available physical supply.

However, wisdom so often being overlooked by power and overwhelmed by it, we may have to consider that a 'break' in the market may precipitate this activation of the cup and handle and therefore the next move higher, and a challenge to 1550 that complete rather more quickly then might otherwise happen.

In seeking to extend control and overreaching, people sometimes bring about the very circumstance that guided the fear that led to their overconfidence and misjudgment.

And this is what muddies the waters in too many markets these days. That there has been and continues to be manipulation of prices of too many important benchmarks and assets is no longer a serious question for open minds. And there are still too many that remain stubbornly, or wilfully, closed.

Rather, it is the extent of it, the actual players who are involved besides the usual suspects, and of course, any motivations that may exist then the mere greed for illicit and outsized trading profits.

http://jessescrossroadscafe.blogspot.com.au/
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