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 Replies: 23 / Views: 2,877 |
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Bedrock of the Community
United States
10044 Posts |
Fool me once, shame on you.
Fool me twice, shame on me.
"Fool" me three times - you have an agenda you are hiding.
"Fool" me 4 times proves you know you cannot be stopped by legal means.
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Pillar of the Community
United States
3789 Posts |
The reaction today from the Fed news by gold and silver was pretty lame and pathetic. These two continue to be in a consolidation period and wouldn't be surprised to push lower in price for now and or range bound.
Platinum is on the move ,,, why? the market will reveal that later but this is a simple supply and demand picture. The same for palladium.
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Valued Member
Canada
110 Posts |
So anyone know what caused the sudden drop?
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Pillar of the Community
United States
3789 Posts |
well its pretty clear and simple, there are no buyers at these levels in gold and silver. Markets are always forward looking.
Looking at the metals futures now, they are following through with dumping silver and gold.
I would say that if you are looking at QE from the Fed as a reason to buy PM's you will need a diffrent reason going forward, very negative reaction today.
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Pillar of the Community
United States
808 Posts |
"QE4! Let's go print some more! QE4! Let's go print some more!"
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Pillar of the Community
United States
648 Posts |
From reuters...
Gold dropped about 1 percent on Thursday after the Federal Reserve linked its monetary policy to unemployment, raising
concerns that future economic stimulus could be limited. Gold benefits from easy monetary policy as it drives investors who fear diminishing value in fiat currencies to seek safety in hard assets such as bullion. Gold has risen nearly 9 percent so far this year.
"This announcement is a bit confusing to gold investors as it linked policy to unemployment, etc.," said a Tokyo-based trader. "Perhaps the market wanted unlimited QE."
--end
Stack accordingly.
Edited by tripncoins
12/13/2012 12:20 am
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Pillar of the Community
United States
808 Posts |
Quote:
"This announcement is a bit confusing to gold investors as it linked policy to unemployment, etc.," said a Tokyo-based trader. "Perhaps the market wanted unlimited QE." Regardless of how bullish conditions should be for precious metals, uncertainty surrounding everything from how the "fiscal cliff" is resolved to increasing concern regarding the ongoing viability of several western currencies can easily explain today's market behavior. I suspect had someone stepped forward to say, "yes, we're going over the fiscal cliff" the markets would have behaved dramatically yet far more rationally. The markets are amazingly resilient even with bad news when the outcomes are known. It's the uncertainty, however, that causes the mess we're seeing now. Stay the course. Ignore the noise. Tend to your stack! |
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Pillar of the Community
United States
3670 Posts |
Big drop today making this all a moot point-but stil movingl sideways the way I see it till we see sub 32......
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Pillar of the Community
 Canada
1723 Posts |
IF you sit and think about it...silver just being silver if you take the news out of the equations I guess. Wonder who managed to buy at the $32.2 area today? Such a catch 22, silver, want to see my stacks increase in value but also want to stack more on the cheap sometime early in the new year, so would love for it to be sub $32.....oh, such a fickle interest.
Edited by samsnate
12/14/2012 4:16 pm
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Pillar of the Community
United States
863 Posts |
how low do you think it will be able to go? do you predict it hitting 25 again?
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Pillar of the Community
Canada
1723 Posts |
I personally dont see it below 30 again...but thats jmho. I've been wrong before.
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Pillar of the Community
United States
4008 Posts |
Quote:
I don't get this. The economy is sputtering along slowly and I don't see what's wrong with that. If your expectations are low, then there is nothing wrong with it. On the other hand, many of us older folks remember times when the US economy was growing annually at 5-6% WITHOUT any Gov interference, interest rates were 3-4% so savers could make a little money on their savings, jobs paid well and were plentiful, the stock and bond markets weren't rigged, and inflation really was 2-3% instead of the 10% it is today. The official numbers put out today are pure bunk. They say that inflation is 2-3%. They say that unemployment is 8%. Both of these numbers are bald-faced lies that are used as soothing words that won't panic the sheeple and will win elections. The fact that they are lies does not seem to bother a lot of people. In truth, inflation is 3-4x the official number because the official number is purposely rigged to show less than the true rate. This is done by not counting food and energy, which every single human being MUST have in order to live. They stop counting those who exhaust themselves looking for jobs that are not there and have given up looking. These folks would grab a job in a heartbeat but there just aren't any available in their area. Apparently, those who are not counted do not exist. This causes the rate of unemployment to drop to 1/2 what it really is. When running a rigged game, all one need do to look good is to change the rules in mid-game... and they have! |
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Pillar of the Community
United States
3789 Posts |
Ok I know I am going ruffle some feathers but whatever. everyone is entitled to their opinion and I respect everyone's. All that matters to me is I respect the tape and price action and that tells me if ima right or wrong.
Economy wise, I think while things are soft, slow and perhaps we are looking at very s-l-o-w growth here in the US and most of the world (notice I said most).. I do believe this economy is healing and getting slowly out of its deep hole.
To me, the fact that gold and silver are NOT ripping on this Fed news leads me to believe that the market knows things aren't that bad. and I do see it in the kind of stocks that the market wants.. I see many many stocks moving up near yearly highs and market leaders that are part of a healing and rebuilding of everything, of consumers, homes, cars to name a few.
Does that mean things are all roses? NO.. not saying that.
so where does that put gold and silver?
Well, I do think they will continue to do well. However after such a big long run they have had... these metal prices need to chop and consolidate, go no where for the next move ,,, which I feel based on the price action,,, should be up.
what was it,, with gold when it hit its previous all time highs around 800s, back in the day. it then crapped out and fell like a brick. fast forward and we have passed that number and moved higher.. and we have NOT puked and given all that up. so that's a major positive.
also a side point. you know, I agree with the documented material out there that gold, well, its not everywhere and NOT easy to get to. that's going to push prices higher over time as well.
but hey, that's my 2 cents.. and btw I am NOT a gold bug.
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Pillar of the Community
United States
4008 Posts |
Yup... your opinion is just as valid as anyone else's, so let'er rip!  My problem with the US stock market, in which I have successfully invested for over 35 years, is that its rise for the past 2 years is specifically due to the money printing of the Fed and not because the economy is growing and doing well. If Bernanke were to stop printing that extra $85B each and every month, the stock market would collapse from its current $13,000 to about 6,000. I REALLY wish that this were not so but it is. The Fed has put themselves in a very tight corner, saying that they would extricate themselves later, but there does not seem to be any way of doing that without collapsing the economy. If only there were! Because of this, it looks a lot like the Fed and the Gov are in a mode of settling for buying time, rather than really and truly fixing the economy. My own personal opinion on this is that the US has hit a wall where we must decide between growing our economy OR growing the government and I very much fear that the wrong choice is being made on this. If so, then we are in for a very long period of Japanese style economic malaise, a very anemic recovery that will be difficult to tell from a recession, and a terribly bloated government that consumes everything in its path.  Got PMs? |
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Pillar of the Community
Canada
1723 Posts |
Quote:
I personally dont see it below 30 again...but thats jmho. I've been wrong before. And 10 days later here we are slightly below 30. Hope it doesn't go much lower or I will have to go back to the drawing board on how I see that the market works. Although, I am always just trying to be close so if it satys about here, I wouldnt be too far off.  |
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Replies: 23 / Views: 2,877 |
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First Page
Posted 12/12/2012 11:44 pm
