drbubb Posted March 10, 2008 Report Share Posted March 10, 2008 Gold and silver getting hammered today from the very beginning. I never trust market moves outside NY trading hours Link to comment Share on other sites More sharing options...
G0ldfinger Posted March 10, 2008 Author Report Share Posted March 10, 2008 This inflation thingy just won't go away. http://www.bloomberg.com/apps/news?pid=206...&refer=home March 10 (Bloomberg) -- U.K. wholesale-price inflation matched the fastest annual pace since 1991 and industrial production rose more than economists forecast, adding to evidence the Bank of England has little room to cut interest rates. Prices at factory gates climbed 5.7 percent in February from a year earlier... Link to comment Share on other sites More sharing options...
Pluto Posted March 10, 2008 Report Share Posted March 10, 2008 Mr. Market wants a lot more ca$h now! Smackdown in preparation for an emergency cut sounds like the Fed's modus operandi to me. http://www.reuters.com/article/bondsNews/i...044347520080310 NEW YORK, March 10 (Reuters) - An emergency interest rate cut by the Federal Reserve is possible ahead of its next scheduled monetary policy meeting on March 18, according to a Goldman Sachs research note on Monday. Goldman said its view on Fed policy changed on Friday. Link to comment Share on other sites More sharing options...
Justin Thyme Posted March 10, 2008 Report Share Posted March 10, 2008 I never trust market moves outside NY trading hours Damn skippy Link to comment Share on other sites More sharing options...
dst Posted March 10, 2008 Report Share Posted March 10, 2008 It could be a decent answer, YES.Any ideas of what might beat gold? No. Link to comment Share on other sites More sharing options...
Pluto Posted March 10, 2008 Report Share Posted March 10, 2008 Ladies, gentlemen, lurkers, boys and girls please assume the crash position. http://www.washingtonpost.com/wp-dyn/conte...d=moreheadlines Carlyle Group Holding 'Crisis Talks' in N.Y. The California Public Employees Pension Fund (CALPERS) and the government of Abu Dhabi also own part of Carlyle Group. The California Public Employees' Retirement System (CalPERS) provides pension fund, healthcare and other retirement services for approximately 1.5 million California public employees. Link to comment Share on other sites More sharing options...
narco Posted March 10, 2008 Report Share Posted March 10, 2008 Link to comment Share on other sites More sharing options...
Pluto Posted March 10, 2008 Report Share Posted March 10, 2008 The Fed is drawing a line in the sand at $1,000. They are sucking in the short sellers which is the rocket fuel that will allow the line in the sand to be breached with impunity. Stay long and prosper. Link to comment Share on other sites More sharing options...
Pluto Posted March 10, 2008 Report Share Posted March 10, 2008 Position (1) reserved for UK BTL's, and position (2) for holders of USDs and UK sterling. Those holding PMs will be allowed parachutes. Link to comment Share on other sites More sharing options...
narco Posted March 10, 2008 Report Share Posted March 10, 2008 Position (1) reserved for UK BTL's, and position (2) for holders of USDs and UK sterling. Those holding PMs will be allowed parachutes. Holders of Gold and Silver will be flying in safety via 1st class. Link to comment Share on other sites More sharing options...
alexreeve Posted March 10, 2008 Report Share Posted March 10, 2008 "Gold falls on firmer dlr, platinum at 1-mth low" http://www.reuters.com/article/hotStocksNe...684266120080310 Does firmer have an alternative definition from the colloquial usage? Link to comment Share on other sites More sharing options...
Pluto Posted March 10, 2008 Report Share Posted March 10, 2008 "Gold falls on firmer dlr, platinum at 1-mth low" http://www.reuters.com/article/hotStocksNe...684266120080310 Does firmer have an alternative definition from the colloquial usage? Firmer as quicksand is firmer than a cesspool. Both would be appropriate to describe the situation the dollar finds itself in. Link to comment Share on other sites More sharing options...
drbubb Posted March 10, 2008 Report Share Posted March 10, 2008 "Gold falls on firmer dlr, platinum at 1-mth low" No worries. Gold gapped down on trading outside NY hours, and is now rising to fill that gap. Gold could have put in a useful LOW today on this action Link to comment Share on other sites More sharing options...
Pluto Posted March 10, 2008 Report Share Posted March 10, 2008 No worries.Gold gapped down on trading outside NY hours, and is now rising to fill that gap. Gold could have put in a useful LOW today on this action I see oil on another tear today - up $1.00. Link to comment Share on other sites More sharing options...
azazel Posted March 10, 2008 Report Share Posted March 10, 2008 Holders of Gold and Silver will be flying in safety via 1st class. More like those with PM have their feet firmly on the ground because they knew the plane was going to crash and didn't get on it Link to comment Share on other sites More sharing options...
drbubb Posted March 10, 2008 Report Share Posted March 10, 2008 I see oil on another tear today - up $1.00. Yes. And it is beginning tio drag Gold back up Link to comment Share on other sites More sharing options...
Pluto Posted March 10, 2008 Report Share Posted March 10, 2008 Yes. And it is beginning tio drag Gold back up A agree with GS with regard to their PR, if the DOW tanks today there will be an SOS rate cut. The DOW looks very feeble, any rally is meet with a wall of sellers. Link to comment Share on other sites More sharing options...
Bobsta Posted March 10, 2008 Report Share Posted March 10, 2008 "Gold falls on firmer dlr, platinum at 1-mth low" http://www.reuters.com/article/hotStocksNe...684266120080310 Does firmer have an alternative definition from the colloquial usage? This is classic Bloomberg "try to find an explanation for what the market just did" ... I've witnessed this repeatedly over the past few months when reading their articles on currency markets. "Dollar firms as traders view currency as over-sold"... erm, yeah, whatever you reckon. There are often completely contradictory articles listed at: http://www.bloomberg.com/news/markets/currencies.html on an average trading day. Link to comment Share on other sites More sharing options...
G0ldfinger Posted March 10, 2008 Author Report Share Posted March 10, 2008 No worries.Gold gapped down on trading outside NY hours, and is now rising to fill that gap. Gold could have put in a useful LOW today on this action Want to buy some silver soon, but my 'powder' hasn't arrived yet where I need it. http://www.bloomberg.com/apps/news?pid=206...&refer=home Oil at $107 -- Gold sells off. ``We're witnessing an ongoing flow of fund buying, which isn't particularly motivated by the particulars of the petroleum market,'' said Tim Evans, an energy analyst at Citigroup Global Markets Inc. in New York. ``Prices have rallied to such an extent where sellers have backed off. Any time prices go lower the buyers come right back into the market.''.... ``Clearly the fundamentals don't matter at this point,'' said Chip Hodge, a managing director at MFC Global Investment Management in Boston, who oversees a $4.5 billion energy-company bond portfolio. ``We've seen bubbles in other markets over the years and eventually they end. It's impossible to see when that will be the case here.'' $300? Link to comment Share on other sites More sharing options...
tinecu Posted March 10, 2008 Report Share Posted March 10, 2008 But seriously....the chart to watch is possibly Gold/JPY...if gold starts to founder against the No1 world creditor's currency then gold will loose its lustre and global deflation will occur. Since Aug07 the Yen has not been repatriated to the extent one might have thought. Instead this hot money has moved into commodities where it is yielding well....so far. Sorry to bump my own thread, but what are your thoughts on the Yen and the Carry trade with respect to the PoG? Link to comment Share on other sites More sharing options...
Pluto Posted March 10, 2008 Report Share Posted March 10, 2008 Want to buy some silver soon, but my 'powder' hasn't arrived yet where I need it. http://www.bloomberg.com/apps/news?pid=206...&refer=home Oil at $107 -- Gold sells off. $300? The DOW looks like she is going to keel over and be out for the count - just like Clubber Lang in Rocky III. Link to comment Share on other sites More sharing options...
Pluto Posted March 10, 2008 Report Share Posted March 10, 2008 Sorry to bump my own thread, but what are your thoughts on the Yen and the Carry trade with respect to the PoG? The dollar will end up being the new carry trade if this goes on for much longer. Would you believe a reserve currency could up being a carry currency. Link to comment Share on other sites More sharing options...
Pluto Posted March 10, 2008 Report Share Posted March 10, 2008 Some serious dumping of Gold being done to keep the plates spinning. EMF? Oil up, euro up, yen up, everything is up except US house prices, equities, and of course its currency. Quick Viagra and tons of it!! Link to comment Share on other sites More sharing options...
G0ldfinger Posted March 10, 2008 Author Report Share Posted March 10, 2008 Some serious dumping of Gold being done to keep the plates spinning. EMF? Oil up, euro up, yen up, everything is up except US house prices, equities, and of course its currency. Quick Viagra and tons of it!! Bear Stearns going belly-up? http://www.bloomberg.com/apps/news?pid=206...&refer=home No wonder someone HAS to dump gold. Link to comment Share on other sites More sharing options...
drbubb Posted March 10, 2008 Report Share Posted March 10, 2008 This is classic Bloomberg "try to find an explanation for what the market just did" ... I've witnessed this repeatedly over the past few months when reading their articles on currency markets. We used to call that: "Pin the news on the Market move." Sentiment moves the market, not news. When a market is ready to move, it will find news to give the traders an excuse to do the trade they are set to do. We saw the open gap down on Gold mostly filled, then they took it back down to retest the Lows. I reckon support near Gold-$960-something will hold, and Gold will be on its way up to the highs and beyond before the week is over. But no guarantee on that. Look at this ratio... I make it bullish for Juniors... "Back to Ice"? Before it runs higher? Let's hope so... RATIO: CDNX-to-SPX weekly daily Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now