Swiss Gold Referendum a buying opportunity?

Q

QLDSILVER

Member
Question: Does anyone think the date of this Swiss referendum vote is a bit suspect? I've got this feeling that it was purposely set after our American Thanksgiving holiday which is the 27th and 28th. Our markets will be closed on the 27th for sure but I think they might be open Friday. But anyway, the Cartel loves to smash the paper PM's on American holidays when trading is dead.

I suspect they will utilize our holiday distraction and closed market to hammer PM's just ahead of the Swiss vote to scare the voters from passing the referendum.

Might be a good time to sit back and wait to buy phyzz until Friday the 28th to see what the Cartel does.

Thoughts?

This was posted on Zerohedge under comments, might be worth thinking about....
 
Caput Lupinum said:
rubbish
Click to expand...

On the contrary, what better way to demonstrate to the Swiss voters what a bad investment gold is as a support to their currency. I expect that we will continue see the rise in gold until next week, and as QLDSILVER said, a major smackdown before the vote.
 
sammysilver said:
Caput Lupinum said:
rubbish
Click to expand...

On the contrary, what better way to demonstrate to the Swiss voters what a bad investment gold is as a support to their currency. I expect that we will continue see the rise in gold until next week, and as QLDSILVER said, a major smackdown before the vote.
Click to expand...
What if speculators are expecting manipulation to temporarily raise prices so they all start piling in now which causes prices to go up. Then, just before the predicted smackdown, they take profits by selling which results in a smackdown?

Then everyone says this was obvious manipulation which reinforces the idea and the next time some major gold-related decision is upcoming, everything repeats.
 
IMHO a smackdown will be a buying opportunity. A no vote is the best result for gold as low sentiment = bottom. In other words the more bears in the swiss population the better. Nothing worse then taking the entire population of a country of a bull run as the idea of a bull market is to leave as many people behind as possible. A yes vote will provide a pop, but it will not last
 
a "No" vote has already been priced in to the market with all mainstream news and polls predicting an overwhelming "No". The fact that the gold price has held up so well looks very encouraging and if its is a "no" or a "yes" vote on Sunday, I see it moving up next week.
 
Meanwhile in Swizzerland...

Adrian Ash, the head of research at rival firm BullionVault, said that some of his firm's longer-term Swiss gold investors were growing their personal gold reserves ahead of the referendum.
"Our existing Swiss customers have raised their deposits to buy gold and silver by more than 60 percent already so far in November from 2014's previous full-month average," he told CNBC via email. "Given the opinion polls, that looks a smart and sadly necessary move."
However, he also noted that the traffic to the company's website from Switzerland was unchanged and there had been no sizeable uptick in new Swiss users opening new accounts.
Click to expand...
 
Ronnie 666 said:
a "No" vote has already been priced in to the market with all mainstream news and polls predicting an overwhelming "No". The fact that the gold price has held up so well looks very encouraging and if its is a "no" or a "yes" vote on Sunday, I see it moving up next week.
Click to expand...
Even if it dips immediately after a "no" vote, I think that dip would be a temporary overreaction and it will quickly bounce back. So possibly worth buying on such a dip.
 
thatguy said:
Anyone know when it is aussie time?
Click to expand...

The unofficial results are due out around 13.30 GMT on Sunday but more formal results are not expected until 16.30 GMT so 3.30am in Syd.
 
House said:
thatguy said:
Anyone know when it is aussie time?
Click to expand...

The unofficial results are due out around 13.30 GMT on Sunday but more formal results are not expected until 16.30 GMT so 3.30am in Syd.
Click to expand...

That gives a reasonable gap between the decision and the markets opening. If its a "yes" vote I imagine many will be taking the opportunity to get some orders in at the weekend spot.
 
SilverPete said:
House said:
thatguy said:
Anyone know when it is aussie time?
Click to expand...

The unofficial results are due out around 13.30 GMT on Sunday but more formal results are not expected until 16.30 GMT so 3.30am in Syd.
Click to expand...

That gives a reasonable gap between the decision and the markets opening. If its a "yes" vote I imagine many will be taking the opportunity to get some orders in at the weekend spot.
Click to expand...

Yes vote is looking very unlikely and has been for the last few weeks. I expect a 63% no vote to put a dampener on the build up to it all.

To pass, the initiative needs both a majority of voters and a majority of the 26 Swiss cantons. That's over 50% of voters and over 50% of regions needed to succeed.
If successful, the referendum has to go back to parliament for ratification, which according to some reports, could take up to two years as, the Swiss Federal Council can also deem that the resulting law may be harmful to the country and so can organise another vote to confirm what the population wants to do.
From the outset it's a very tall order to get this passed. Recent polls have shown the yes voters well below the numbers needed to pass, and the majority of the Cantons have said they will reject it also.
There is always a risk though but it's looking very slim. The last poll had only 38% in favour but the even those numbers were accumulated. The actual breakdown was;
27% definitely in favour of the gold initiative
36% definitely against the initiative
11% rather in favour of it
11% against it
15% no answer or undecided
Click to expand...
 
mfjBj3k.jpg
 
Caput Lupinum said:
For what it's worth, I have gone long on Toblerone tonight
Click to expand...

"Toblerone is a Swiss chocolate bar brand owned by US-American Mondelz International, Inc."

"No" vote confirmed. Thanks Caput Lupinum.
 
SilverPete said:
That gives a reasonable gap between the decision and the markets opening. If its a "yes" vote I imagine many will be taking the opportunity to get some orders in at the weekend spot.
Click to expand...

Indeed. The dealers might see a huge wad of orders come Monday morning if it's a yes vote.
 
SilverPete said:
Caput Lupinum said:
For what it's worth, I have gone long on Toblerone tonight
Click to expand...

"Toblerone is a Swiss chocolate bar brand owned by US-American Mondelz International, Inc."

"No" vote confirmed. Thanks Caput Lupinum.
Click to expand...

But it is made in Bern so that's a "Yes" vote confirmed :p
 
You must log in or register to reply here.
Back
Top