It's kind of odd to see the stock market and precious metals dipping at the same time. Anyone have any ideas?
Precious Metals
- Thread starter Earcutter
- Start date
Monday saw gold jump as you'd expect. As the market tumble continues and picks up pace, investors are forced to offload gold in order to cover their long positions. There's a record number of bullish traders and that means a correction is forcing them to scramble and increase liquidity in order to protect their other positions and cover margin calls.
Edit: I should say I'm not an expert at all and this is just my layman's understanding.
Edit: I should say I'm not an expert at all and this is just my layman's understanding.
In all this bit o' crazy i hadn't looked at metals.... Time to buy?
Everyone is fleeing to bonds. The rate on US Treasuries has fallen off a cliff. Precious metals aren't much of a shelter as they used to be, as much of their market value now comes from their value in industry, rather than the fact that they're just pretty.
We will all be fine as long as lead doesn't become a precious metal again.
I saw razor emporiums revamp rhodium slim and fatboy prices went up 50 bucks yesterday but gold plated and nickel stayed the same.
Ron R
I survived a lathey foreman
Gold is a barometer for turmoil and is manipulated by Central banks (cartel) around the world who hold the most tons.
The central banks are doing things behind the scenes to calm and reclaim their position once again.
I have a little physical gold and silver and have been in this game for many years. You will see a rise in the stock market possible Monday or Tuesday and they have a lot of power to throw hundreds of billions like they have been already in a single day buying up or shoring the markets(they have the computer systems to do amazing things when needed -- especially near the close because it's cheaper for them). You saw the President with Health officials come out Saturday to announce reasonable intentions on a state wide address with others to talk about the Coronaviris and pulling out Afghanistan that will give markets optimism(The President is usually in Florida on the Weekend
). A lot at stake Monday and Tuesday IMO and the Fed will be using all their computer systems to halt the bleeding if possible(I'm talking 100's of billions or > if needed).
I find shaving relaxing and watching the markets the opposite, I have been out of the stock markets since June 2019 when I went into surgery and you never know.( My wife does not enjoy or even want to know my trading habits.)
Now Bitcoin the banks have not found a way of controlling that new commerce tool and are working day and night figuring how it will benefit them IMO. Bitcoin uses the internet web of thousands of computers to piggy back transactions were banks use their own central computing systems that are like night and day how they operate.(I read up on bitcoin and its not for me because I do understand everything on its value to a average citizen.)
So stock markets do not work on common sense and it use to work on fear & greed factor but computers have no emotions so things are not going to make any sense to us folks who live with common sense to survive!
The central banks are doing things behind the scenes to calm and reclaim their position once again.
I have a little physical gold and silver and have been in this game for many years. You will see a rise in the stock market possible Monday or Tuesday and they have a lot of power to throw hundreds of billions like they have been already in a single day buying up or shoring the markets(they have the computer systems to do amazing things when needed -- especially near the close because it's cheaper for them). You saw the President with Health officials come out Saturday to announce reasonable intentions on a state wide address with others to talk about the Coronaviris and pulling out Afghanistan that will give markets optimism(The President is usually in Florida on the Weekend
). A lot at stake Monday and Tuesday IMO and the Fed will be using all their computer systems to halt the bleeding if possible(I'm talking 100's of billions or > if needed).I find shaving relaxing and watching the markets the opposite, I have been out of the stock markets since June 2019 when I went into surgery and you never know.( My wife does not enjoy or even want to know my trading habits.)
Now Bitcoin the banks have not found a way of controlling that new commerce tool and are working day and night figuring how it will benefit them IMO. Bitcoin uses the internet web of thousands of computers to piggy back transactions were banks use their own central computing systems that are like night and day how they operate.(I read up on bitcoin and its not for me because I do understand everything on its value to a average citizen.)
So stock markets do not work on common sense and it use to work on fear & greed factor but computers have no emotions so things are not going to make any sense to us folks who live with common sense to survive!
- Thread starter
- #9
Well... I’m getting out of the precious metals game tomorrow gents. Gold is up to astronomical prices at over 2K, and silver is at $28.00 a troy ounce.
I talked to a guy today who’s giving me 80% of spot on my silver, and 90% on all my gold. It’s not ideal, but buying it physically, you know you’re going to get robbed. Besides I bought my silver at 14 to 17 bucks.
It is what it is, I might be premature, but this’ll cover inflation and let me buy myself a gift or two.
I talked to a guy today who’s giving me 80% of spot on my silver, and 90% on all my gold. It’s not ideal, but buying it physically, you know you’re going to get robbed. Besides I bought my silver at 14 to 17 bucks.
It is what it is, I might be premature, but this’ll cover inflation and let me buy myself a gift or two.
It's never wrong to take a profit you are happy with and get risk off the table. Your buyer probably expects to make money on slimmer margin, high volume, and quick turnaround.
Pigs can get fat, but hogs get slaughtered.
That’s a sure sign that the bad press RE has gotten lately is having an impact. Just desserts.
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