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Gold & Precious Metals

"Gold & Silver: Respect The Bar"

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Posted by Stewart Thomson - Graceland Updatesart Thomson - Graceland Updates

on Tuesday, 27 June 2017 09:45

June 27, 2017

  1. At about 4:00am yesterday, gold suffered a dramatic sell-off in just a few seconds.  More than 15,000 contracts quickly changed hands on the COMEX.
  2. This caught most investors by surprise.  That’s because they don’t follow the physical market meticulously.  
  3. The supply and demand of physical gold is what drives price discovery in the paper market.  The leverage involved on the COMEX, SGE (Shanghai), and the LBMA (London) allows the paper market to significantly magnify the action taking place in the physical market.
  4. The gold price trends are generally determined by the physical market, and magnified by the paper market.  It’s that simple.  
  5. Janet Yellen has stated, “I don’t think anybody understands gold.”  I disagree.  I’ll suggest that anybody who ignores the physical market will find that most of what happens in the paper market feels like an electric shock.  It’s not a shock.  It’s a magnification.
  6. To view the latest key physical gold market news, please click here now.  When the major banks stop importing gold into India, even if it’s for just a few days (as it is in this case), a “price vacuum” can occur on the COMEX and/or the LBMA, and do so in just a few seconds.
  7. That’s what happened yesterday, and the good news is that gold importers may already be close to getting the clarity they seek on the GST tax.  
  8. Please click here now.  Double-click to enlarge.  Gold has a “perky” feeling to it right now, even though the summer typically sees sideways to lower price action!
  9. I don’t see anything negative on this daily gold chart, and my 14,7,7 Stochastics oscillator is at a point where $50 - $100 rallies tend to begin.


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Gold & Precious Metals

1.8 Million Ounces of Gold Traded in One Minute

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Posted by Arkadiusz Sieron

on Tuesday, 27 June 2017 07:01

Yesterday, there was a flash crash in the gold market. What happened and what does it mean?

Monday was a very interesting day for the gold market, as the price of gold plunged almost $20 after 1.8 million ounces of the yellow metal were sold in one minute. Gold futures fell as much as 1.6 percent to $1,236.50 an ounce on the Comex at the Asian close. The drop was unexpected as no new fundamentals justified it. On the contrary, orders for U.S. durable goods fell 1.1 percent in May, the second monthly decline in a row, while the Chicago Fed National Activity Index tumbled to -0.26. And the volume in New York spiked to 1.8 million ounces, an unprecedented level not reached even after the Brexit vote or Trump’s victory in the presidential election.

Hence, the plunge was a mystery. It could be a technical sell or central bank intervention. Or somebody just wanted to exit from the market. But why would he or she want to sell gold during limited participation? Hence, the fat finger order is taking the blame. But some analysts remained skeptical – this had to be a double fat finger, as silver also plunged. And why did the precious metals prices not rebound after an erroneous order hit the market (see the chart below)?

Chart 1: Price of gold over the last three days.

1-1



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Gold & Precious Metals

Gold Summer Doldrums

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Posted by Adam Hamilton - Zeal Intelligence Intelligence

on Monday, 26 June 2017 06:36

Gold has spent most of June grinding lower on balance, damaging sentiment and vexing traders.  Usual selling leading into the Fed’s latest rate hike contributed, but the summer doldrums are also in play.  Gold has typically suffered a seasonal lull this time of year, on waning investment demand as vacations divert attention from markets.  But these summer doldrums offer the best seasonal buying opportunities of the year.

This doldrums term is very apt for gold’s summer predicament.  It describes a zone in the world’s oceans surrounding the equator.  There hot air is constantly rising, creating long-lived low-pressure areas.  They are often calm, with little or no prevailing winds.  History is full of accounts of sailing ships getting trapped in this zone for days or even weeks, unable to make any headway.  The doldrums were murder on ships’ morale.

Crews had no idea when the winds would pick up again, while they continued burning through their precious stores of food and drink.  Without moving air, the stifling heat and humidity were suffocating on these ships long before air conditioning.  Misery and boredom were extreme, leading to fights breaking out and occasional mutinies.  Being trapped in the doldrums was viewed with dread, it was a very trying experience.

Gold investors can somewhat relate.  Like clockwork nearly every summer, gold starts drifting listlessly sideways.  It often can’t make significant progress no matter what the trends looked like heading into June, July, and August.  As the days and weeks slowly pass, sentiment deteriorates markedly.  Patience is gradually exhausted, supplanted with deep frustration.  Plenty of traders capitulate, abandoning ship.

Thus after decades of trading gold, silver, and their miners’ stocks, I’ve come to call this time of year the summer doldrums.  June and July in particular are usually desolate sentiment wastelands for precious metals, totally devoid of recurring seasonal demand surges.  Unlike the rest of the year, these summer months simply lack any major income-cycle or cultural drivers of outsized gold investment demand.



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Gold & Precious Metals

Major Gold Rally Is Starting

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Posted by Morris Hubbartt - Super Force Signals

on Friday, 23 June 2017 06:15

Today's videos and charts (double click to enlarge):
 

SFS Key Tactics & Video Update

za222



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Gold & Precious Metals

Welcome to Deflation

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Posted by Martin Armstrong - Armstrong Economics

on Thursday, 22 June 2017 07:29

Inflation

People are just starting to grasp why deflation is also present in the USA. Despite all the screaming about Quantitative Easing, most remain confused why hyperinflation has not taken place. Most are Oblivious to the fact that there is a dynamic process involved that is a lot more complex than traditional economics teaches in school. Sorry, but the quantity of money theory does not work. It is way too simplistic and this has led to massive confusion. Even the central bankers are starting to call with questions. Economics is just not as it seems and it has ignored international capital flows confining all analysis to purely domestic situations.

Whole-FoodsThe latest news that Amazon was buying Whole Foods saw a plunge in retail and grocery stocks. Amazon put book stores on the list of bankruptcy victims and we see similar troubles for Sears, the company that made its name using the railroads to deliver goods by mail order – the internet of the 19th century.

The deflationary tone has been in place since 2015.75 and it is a combination of problems, one of which is the technology advancement. Many people see the advance of robots displacing jobs. However, the reason unemployment rose dramatically to 25% during the Great Depression was not from the collapse of industry. It was (1) the advancement of technology with the combustion engine that wiped out agricultural jobs (aside from the horse industry) and (2) the vast dust bowl which then wiped out farms entirely.



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