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 Replies: 3,093 / Views: 102,918 |
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Pillar of the Community
United States
1239 Posts |
Gold broke out today up over $128 ounce and made it over $4500. Silver hit $66.00 Can't wait to see what happens after 2 PM.  |
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Pillar of the Community
United States
1239 Posts |
It's 1:45 PM aaaannnddd I'm out,  Sold the SLV Long for a small gain. Down a little on my GLD spread that I haven't been able to get out of yet. Time to watch what happens next.. cmon Warsh! Send it! Edited by Harry213
Yesterday 2:01 pm
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Pillar of the Community
United States
1239 Posts |
Sounds like Good news for metal's - "Expectations for a September 'Hold' have risen to 65% at the time of writing, from roughly 50/50 in recent weeks following inflation and labour data." "The combination of easing inflation and softer labour market data has underpinned expectations for the Fed to remain on hold" "Furthermore, the Fed will receive another round of inflation and employment data before the September FOMC" So until then, keep on keeping on  |
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Pillar of the Community
United States
1239 Posts |
And in other News-
"SPDR Gold shares GLD surged 3% Wednesday after the US Treasury unexpectedly doubled the size of it's long dated bond buy backs, sending yields and the Dollar sharply lower.
The move came a day after the 30 year Treasury yield hit it's highest level since 2007"
Thing's seem to be on a roll lately huh.. I don't think we'll be seeing $50-$40 Silver or $3500 Gold this month either.
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Pillar of the Community
 United States
5943 Posts |
Back up to the ~$66 range!
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Pillar of the Community
United States
5873 Posts |
Wider swings with gold and silver than normal, not sure this is good for the economy as the US dollar$ weaken.
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Pillar of the Community
 United States
5224 Posts |
Quote:
"SPDR Gold shares GLD surged 3% Wednesday after the US Treasury unexpectedly doubled the size of it's long dated bond buy backs, sending yields and the Dollar sharply lower. So, the Treasury issues new short-term Bills to buy back long-term Bonds. Wait, isn't there a name for that? Something starting with a "P" I think...  |
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Pillar of the Community
United States
1239 Posts |
Oh for sure, I cannot emphasize it enough, none of what we're seeing is Good. None of the economic Data, reports, forecasts, whatever, not once in my lifetime of 3 or 4 recessions and 1 global financial crisis, not once has any of this been a good sign or an indication that we're heading in the right direction. In the words of AC/DC "we're on the Highway to Hell". And since I have no way off of it all I can do is smile and enjoy the ride. And looking at my screen I see Silver hit $67 this evening.   |
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Pillar of the Community
United States
1239 Posts |
I was just looking at the chart for the US Dollar and boy oh boy did the US Treasury pull a Tonya Harding vs. Nancy Kerrigan move today or what?
I mean it really took a hit below the knee today. It got knocked back down to April-May levels. The Dollar has been getting beat down since the Fed announcement but today really took the cake.
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Moderator
 United States
193144 Posts |
I missed all the fun yesterday.  |
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Pillar of the Community
United States
1239 Posts |
Quote:
I missed all the fun yesterday. Oh man did you ever!  It was epic!  Silver fell overnight to 62.40ish and then made an Olympic style trampoline bounce followed by a backflip off of the 50day moving average. Then as Silver was gaining altitude and just before the market opened Bessent announced that the US Treasury was going to start Bond buy back's to avert a major Bond crisis, pulling a Tonya Harding on the US Dollar and crippling it. This helped Silver fly even higher. Then the Fed minutes were released and the probability of a rate 'Hold' increased to 65% from 50/50 a few weeks ago. Helping silver even more.. It's been a heck of a turn of events for the metals in the past few weeks. I'm just glad I cashed in my short position in SLV on Tuesday or I would've got my face ripped off yesterday. Edited by Harry213
Today 1H 6M ago
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Pillar of the Community
United States
1239 Posts |
Quote:
So, the Treasury issues new short-term Bills to buy back long-term Bonds.
Wait, isn't there a name for that? Something starting with a "P" I think... not sure, but I think the word you mean is 'Panicking' Robbing Peter to pay Paul. A short term 'band aid' cure to a long term massively hemorrhaging artery. Kick the can down the road. All while pushing a 40 trillion dollar defecit, and continuing to borrow and print money, thus feeding the beast more and continuing the cycle. Deliberately debasing the Dollar (good for metal's) I don't follow the 30 year but I saw someone post earlier that the 30 year is going back up again Yeah, we're so cooked, so stack that Gold and Silver  |
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Pillar of the Community
United States
5943 Posts |
Well, something just happened to push silver up into the ~$68 zone all of a sudden...
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Pillar of the Community
United States
5943 Posts |
... and rising!
Are we going to hit $70 some time today? Or will the smackdown come any second now?
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Pillar of the Community
United States
5943 Posts |
Gee... I wonder whether the news that the U.S. just hit $40 trillion in debt for the first time has anything to do with it...
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Replies: 3,093 / Views: 102,918 |
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Posted Yesterday 1:49 pm
