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Replies: 3,161 / Views: 105,063 |
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Moderator
 United States
193815 Posts |
Nope, I see it now. Maybe I read a comment yesterday from someone who heard a rumour.  Regardless, I call shenanigans. 
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Pillar of the Community
United States
1265 Posts |
Quote: And, one minute later, it suddenly dips to $69 and sinking fast. Whaaa? That sudden huge Green spike in the US Dollar followed by the big Red dip in Silver and Gold. In case anyone is still wondering how strong the correlation between the Dollar and the metals is right now.   
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Moderator
 United States
193815 Posts |
Quote: That sudden huge Green spike in the US Dollar followed by the big Red dip in Silver and Gold. In case anyone is still wondering how strong the correlation between the Dollar and the metals is right now. 
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Pillar of the Community
 United States
5961 Posts |
Looks like it is bouncing back a bit. Up to $69.38 right now.
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Pillar of the Community
United States
1265 Posts |
Quote: From CNN: "Fed Chairman Kevin Warsh stays quiet on interest rates but calls inflation 'concerning'." Uh Oh  Yeah that would explain the Markets reaction.
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Moderator
 United States
193815 Posts |
Quote: Looks like it is bouncing back a bit. Up to $69.38 right now. 
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Pillar of the Community
 United States
5961 Posts |
So much for the bounce. Another drop, this time all the way to $67. I'm starting to get nauseated again...
Edited by barryg Today 1H 51M ago
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Pillar of the Community
 United States
5961 Posts |
Make that into the ~$66 zone...
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Pillar of the Community
United States
1265 Posts |
It's just after 12 noon on Wall Street and the Dollar is still on a tear, ripping higher. Right now it's almost back to where it was before the Treasury announced the buy backs in bonds.
The entire markets got tossed around like a bucking bronco because of how Warsh is being interpreted by the market.
Remember Gold is the leader, Silver is the follower. This morning Gold didn't get as nice of a bump up as Silver did. Gold started selling off early. Expect that Gold will see a pull back to $4500-$4400 range for support. While Silver has $66 as the next area of support. Silver has so far whipsawed through this entire weeks range, from $71.16 to $66.72
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Pillar of the Community
 United States
5961 Posts |
For whatever it's worth, this is the current "Market Alert" over at APMEX.com: "Metals Fall on Inflation Outlook, Rate Hikes More Likely."
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Moderator
 United States
193815 Posts |
Yowza! I should have not taken a long lunch today. 
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Replies: 3,161 / Views: 105,063 |