"The blatant manipulation of paper to "control" the price of the physical metal is ongoing and getting more blatant by the month. The more debt that the central banks monetise, the more vital it is that there are no distractions in this process. It is crucial to keep everybody INSIDE the paper money and sovereign debt system. It is equally crucial, therefore, to discourage any temptation to venture outside it. As the months progress, the lure of the precious metals is inexorably increasing." … The Privateer
GO GATA!
The Privateer comment is about right on the money as it gets to describing what is going on now in the precious metals and why it is being done. Today is no exception.
It was an odd one though. Gold was under pressure until around 6 this morning and then shot up to make a $1680 early high on the Comex, only to go right back down again, before it drifted higher to close the day in positive fashion. Perhaps the buying was influenced by a very firm platinum which was up $20 an ounce, with more supply problems in South Africa grabbing the headlines.
Silver rose yesterday, so it never had a chance today, remaining negative even when gold was putting in a modest, but healthy, rally. The low was $31.52. So the good news is silver keeps popping back up when it is belted down to that area. As the day wore on silver gained on gold and actually went positive late in the day and made a new high for the trading session, only to be sent back down.
It appears the silver price keeps coming back because of those strong hand buyers we keep referring to. The silver open interest rose another 660 contracts to 151,512.
The gold open interest managed a gain also, rising 701 contracts to 423,982.
While gold is in lockdown I thought we might as well speculate on the most likely places the Nitwit will hit the ground running with his (bear) feet:
Reuters/CPM - Soul mates Christian and Nadler finally together, like liver n' onions. Two wrongs don't make a right, but they can make Laurel and Hardy look downright scholarly.
WGC - The Nitwit can also advise fashionistas to "always maintain a 5 -10% gold jewelry portfolio", with the rest of your jewelry in a mixture of pot metal, nickel, and cubic zirconium. WGC will also announce a Bar Refaeli ETF, whereby investors can own unallocated shares of a supermodel, thereby capturing the gains if she ever has a Super Bowl commercial that is actually liked. Allocated shares are restricted to the DiCaprio fund.
Citigroup - The Nitwit's svengali and mentor Bob "Pinocchio" Rubin secretly grooms the Nitwit to be his mini-Rubin. Tasks include learning the CTRL-P button, calling your event planner for a Hampton dinner for 30 of your closest WH buddies, and programming Uncle Ben's speed dial number into the Nitwit's smartphone.
Barrick Gold - CEO Jamie Solkalsky falls under the Nitwits's spell, and hedges 20 years of production at an average cost of $1,200, which is where Nadler predicts gold will be by 2014. The Nitwit further predicts if gold falls to $800 ABX shares could actually reach $40.
CFTC - A perfect fit, since bearish views of gold and silver are fully condoned and supported. CFTC approves merging Comex gold inventories with remaining un-repatriated German gold left in NY, thereby doubling its eligible amount to 4 tons.
INVATA SA TRANZACTIONEZI GRATIS PIPSI IN FOREX
"The blatant manipulation of paper to "control" the price of the physical metal is ongoing and getting more blatant by the month. The more debt that the central banks monetise, the more vital it is that there are no distractions in this process. It is crucial to keep everybody INSIDE the paper money and sovereign debt system. It is equally crucial, therefore, to discourage any temptation to venture outside it. As the months progress, the lure of the precious metals is inexorably increasing." … The Privateer
GO GATA!
The Privateer comment is about right on the money as it gets to describing what is going on now in the precious metals and why it is being done. Today is no exception.
It was an odd one though. Gold was under pressure until around 6 this morning and then shot up to make a $1680 early high on the Comex, only to go right back down again, before it drifted higher to close the day in positive fashion. Perhaps the buying was influenced by a very firm platinum which was up $20 an ounce, with more supply problems in South Africa grabbing the headlines.
Silver rose yesterday, so it never had a chance today, remaining negative even when gold was putting in a modest, but healthy, rally. The low was $31.52. So the good news is silver keeps popping back up when it is belted down to that area. As the day wore on silver gained on gold and actually went positive late in the day and made a new high for the trading session, only to be sent back down.
It appears the silver price keeps coming back because of those strong hand buyers we keep referring to. The silver open interest rose another 660 contracts to 151,512.
The gold open interest managed a gain also, rising 701 contracts to 423,982.
While gold is in lockdown I thought we might as well speculate on the most likely places the Nitwit will hit the ground running with his (bear) feet:
Reuters/CPM - Soul mates Christian and Nadler finally together, like liver n' onions. Two wrongs don't make a right, but they can make Laurel and Hardy look downright scholarly.
WGC - The Nitwit can also advise fashionistas to "always maintain a 5 -10% gold jewelry portfolio", with the rest of your jewelry in a mixture of pot metal, nickel, and cubic zirconium. WGC will also announce a Bar Refaeli ETF, whereby investors can own unallocated shares of a supermodel, thereby capturing the gains if she ever has a Super Bowl commercial that is actually liked. Allocated shares are restricted to the DiCaprio fund.
Citigroup - The Nitwit's svengali and mentor Bob "Pinocchio" Rubin secretly grooms the Nitwit to be his mini-Rubin. Tasks include learning the CTRL-P button, calling your event planner for a Hampton dinner for 30 of your closest WH buddies, and programming Uncle Ben's speed dial number into the Nitwit's smartphone.
Barrick Gold - CEO Jamie Solkalsky falls under the Nitwits's spell, and hedges 20 years of production at an average cost of $1,200, which is where Nadler predicts gold will be by 2014. The Nitwit further predicts if gold falls to $800 ABX shares could actually reach $40.
CFTC - A perfect fit, since bearish views of gold and silver are fully condoned and supported. CFTC approves merging Comex gold inventories with remaining un-repatriated German gold left in NY, thereby doubling its eligible amount to 4 tons.
YOU SHOULD NOT TAKE ANY MATERIAL posted on this BLOG AS RECOMMENDATIONS
TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED.
TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED.
Do your own due diligence.
No one knows tomorrow's price or circumstance.
I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader.
I do not accept responsibility for being incorrect in my speculations on market trend.
I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader.
I do not accept responsibility for being incorrect in my speculations on market trend.
King Regards
