Everyone is allowed to post. Have at it!
Posted on 11/30/2014 5:02:41 PM PST by blam
Myles Udland
November 30, 2014
On Sunday night, gold was down more than 4% to as low as $1,143 an ounce after voters in Switzerland on Sunday rejected a measure that would have required the Swiss National Bank to increase its gold reserves from 8% to 20% of its holdings.
The vote failed by a margin of 78%-22%.
In addition the drop in gold, crude oil prices are resuming their tumble, and the price of other precious metals — silver and platinum — were also down sharply.
Silver futures were down 12% early Sunday night and platinum futures were down more than 3%.
Copper prices were also lower by 4% in what is a rough night for the metals markets.
(snip)
(Excerpt) Read more at businessinsider.com ...
Brass and lead is a sight to behold
When the sh!t hits the fan, better than gold.
Deflation?
I'm more worried about what the petulant child king has in store for us in the next 5 weeks. Ammo is relatively cheap now so now's the time to buy.
When? Link?
gold has jumped from $1150 in off hours trading to $1200 on the open.
$50 is a 4.3% increase in a few hours
what? no posts about how it’s rocketing to new heights?
meanwhile, it’s pretty obvious to any watching there is a massive amount of manipulation going on
my fav is the fed to trying to prop up the dollar by buying gold with newly printed bucks and selling it for a loss going into the open. it’s a short term strategy they’ve been using for 3-4 years. in the end, the gold ends up overseas along with the profit... but the dollar survives to ‘fight’ another day
Everyone is allowed to post. Have at it!
How does buying gold and then selling gold prop up the dollar?
when gold goes up... the dollar goes down
when they know the dollar is going to take a hit, they buy gold at the end of the day (NY) and dump it the next morning, pre-open, for a major loss (they don't care as it's phoney money they just printed). this helps offset any bad news
they figure a 3-4% swing is normal and if they can push gold down 3% it'll about even out the next day.
Buying gold makes it go up, selling gold makes it go down. Don't see the benefit.
when they know the dollar is going to take a hit,
How do they know that?
they figure a 3-4% swing is normal
You think a 3-4% swing in gold is normal?
and if they can push gold down 3%
How does buying today and selling tomorrow give you a 3% drop in gold?
they buy at market price towards the end of the day ... then sell it below market pre-open to drive the price down. they don’t care about the loss.
as for how they know bad news is about to hit... they are in the know. we aren’t.
“Yes, it’s called the “free” market, at least as far as we know. “
Actually, a manipulated market. The Saudis are trying to crash oil prices by manipulating oil prices below $75/bbl, the cost to produce fracked oil. Fracking is killing Saudi profits.
Buying and selling at the close and then at the open would have zero net impact on the price.
Gold doesn't need any help going down, the dollar doesn't need any help going up.
The currency market is much much much larger than the gold futures market. Buying and selling a tiny bit of gold would have no impact on the value of dollars.
gold is a 24 hour market.
buying on the close in NY and selling pre-open NY is how they’ve been doing it for a few years. this is how they pull down the value of gold going into the open in NY, thereby propping up the dollar.
the gold market, as of last year, is about 140m ounces/day or about $170b/day.
in comparison, the NY stock exchange is about $28b/day and the equities market is about $191b/day
manipulating the gold market has a very sizable effect on the other markets.
the silver market has a similar, tho lesser effect... now trading about 75:1 to gold (this is very high and should be closer to 40 or 50 to 1)
It was in a rticle in Time when it was a more “respectable” publication. It was in the seventies so will never find it online. Here is a chart plotting the ratio: http://www.macrotrends.net/1380/gold-to-oil-ratio-historical-chart
The lower prices will increase demand, not lower it.
The lower prices will increase demand, not lower it.
Exactly my point.
Ummmmmmm.....kinda the opposite of your point, but okay.
No, you missed again...
https://www.youtube.com/watch?v=PoTz3WgZm4c
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