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 Replies: 162 / Views: 12,394 |
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Valued Member
United States
329 Posts |
"IT did not make credit spreads in any country widen, there was no fear and panic. Gold and silver did not get a lift, at all."
Why would a shortage of cash cause gold to go up? Cyprus was a big event but not for gold. Fear and panic would tend to drive cash outside the system which is neccessarily good for gold or silver. What happened in Cyprus was not a credit event it was a political event which would tend to support credit markets rather than weaken them.
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Valued Member
United States
200 Posts |
I was thinking that Cyprus will lead investors to go after hard assets like PMs but it did not happen. Given that the US economy is getting a little better, I do not see any spurt un gold and silver prices anytime soon.
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Pillar of the Community
United States
3789 Posts |
The fact that Cyprus was a big yawner, that gold and silver are stuck in a strong downtrend are the main facts that prove that the economy is getting better globally, even if it is slow.
Anyone who is negative and cant grasp that we are looking at an economic recovery in the coming months, years versus made up doom and gloom,,, will find themselves in the minority,on the outside of reality, and left in the dust, seen in the rear view mirror with underwater losses in gold and silver.
Silver and gold have played out their usefulness and should be enjoyed at collectibles in coin form, not as a safe haven or a huge return on investment going forward.
..finally I remind you all... none of you can stand up against the mighty hand of world CB's.
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Valued Member
United States
329 Posts |
Right now there is a high degree of cooperation among many central banks and this has happened before. But it never lasts. Japan will be bailing out the Euros and the current high in gold in terms of Yen will transfer to the US dollar as both the Japanese and the Euros sell the US dollar as strength in the dollar was caused by Europeans pooling liquidity and more importantly the BOJ has been buying dollars hand over fist since last Oct. 17th...
They will bail out Europe. There's not much else you can do with all that money.
Thats bad news for Yen and Euro gold prices. I would be a huge seller of gold vs. both the Yen and the Euro, but not the US dollar.
Edited by wjl
04/09/2013 6:58 pm
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Bedrock of the Community
United States
36878 Posts |
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Pillar of the Community
United States
3789 Posts |
ummmm that's not what the article says for starters. and secondly, no matter what you insist, the futures market is in the drivers seat in regards to physical prices :D
so umm yea... gold is not where you put your money right now.. unless you want to collect some nice shiny gold american eagles :D
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Bedrock of the Community
United States
36878 Posts |
Quote:
Bottom line: While mainstream voices question whether or not gold is still in a bull market, smart money appears to be questioning something else. They appear to be asking themselves, "Do we want to continue storing our physical metal within the Comex system? How can we best whisk it away from fraud, theft, or bankruptcy (including our own)?" These are people taking delivery on contracts. Why would you pull the metal out and not cash out if you expect further price declines? Edited by IndianGoldEagle
04/09/2013 10:34 pm
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Bedrock of the Community
13014 Posts |
Quote:
These are people taking delivery on contracts. Not necessarily. It said the funds removed it, it didn't say it was delivering for people or even where it went. It didnt even say it the funds no longer own, just that it was moved |
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Valued Member
United States
329 Posts |
If you trade gold you are not going to take delivery you would not make much money. Most Comex people are looking make money or hedge risk. The physical market is in London.
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Valued Member
United States
329 Posts |
"Why would you pull the metal out and not cash out if you expect further price declines?"
You would sell, hence the decline in gold. The BoJ has been buying dollars ever since G7 last year. They took the month of December off. They announced what they were going to do, it wasn't a shocker. But people rather talk about things that don't matter to US dollar gold like Cyprus and Greece. Its not gold that is volitile it is global currencies. Thats a problem inherent in currency not in gold. Smart money knows this.
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Valued Member
United States
329 Posts |
The COT is totally bogus.
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Pillar of the Community
United States
830 Posts |
For every seller there is a buyer on the other end.  |
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Pillar of the Community
United States
3789 Posts |
ummmm... where to start with so little time!
ok look-
1- COT isn't bogus. Its legit. However, its soooooooo old by the time the info is released for the position sizes and contracts, the move has already happened or happening... which leads me to 2.
2. FOREVER and a DAY they will always write up articles like that, saying "Wow someone moved physical supply out of Comex" Wow Wow Wow... gee but we dont know why. Guess what. those kind of articles are pointless and no where.
3. This is so simple to grasp but most everyone misses the simple logic of the markets. Gold and silver are going down. Their reactions to any sort of negative news or doom and gloom has been one of "ho hum". WHY? because big funds, smart money (no such thing btw) whatever you want to call it... IS DUMPING GOLD AND SILVER.
4. All that matters with gold and silver is the price action and volume. nothing more. And what is it saying? AGAIN, its saying that big funds all across the boards are unloading and they aren't down unloading.
5. This leads to people to be convinced that someone is holding down the PMs. Or that something big is happening behind the scenes contrary to what the facts are. Then there's hope. Many are hoping for a financial disaster. and if they aren't hoping for that then they are clinging tightly with a hope that the PMs all of a sudden make a U-Turn.
Sorry folks, markets don't work that way.
No QE is going to help gold and silver going forward.
No default or panic or gloom and doom is going to help.
No one is holding silver and gold back.
So let me wrap this up. Cyprus was a big nonevent. It was a yawner as I have been saying all along. No rush to hard assets.
oh final point!!!!! Japan is tanking their yen. guess what.... that hasn't helped gold neither. Please get a clue........ gold and silver are going to be one of the worst under performing asset classes going forward, think of it as dead money.... and no I am not saying to chuck gold and silver. You should own SOME. However, if that's all you put your money into, and keep putting it into, you run the risk of big time regret.
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Valued Member
United States
329 Posts |
"oh final point! Japan is tanking their yen. guess what.... that hasn't helped gold neither"
It has in terms of yen.
Bottom line is you buy gold with strong dollars, not weak ones. I know thats sounds counterintuitive, but thats how you make the big bucks. If you want to buy gold at a top then buy with the weakest most oversold dollars like in 2011. Thats when most people buy. That BOJ op will put a top in the dollar.
Edited by wjl
04/10/2013 8:33 pm
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Bedrock of the Community
United States
36878 Posts |
I get it, you guys are not believers in the value of gold and silver. This thread is becoming a big yawn.
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Replies: 162 / Views: 12,394 |
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Posted 04/09/2013 1:46 pm
