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KRO

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    United Kingdom

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    A world of my own
  • Stacker/Collector
    Stacker

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  1. KRO

    The coming Gold crash

    Not so fast Wonger In the non-speculator category, the Swaps are more short than they were in July 2016 despite open interest being 71,372 contracts lower. The mark-to-market value is record net short at $36.6 billion. What has happened is the Producer/Merchants have cut their positions, presumably deciding that hedging mine output is less important in the current inflationary environment. Consequently, the bullion banks are bearing 71% of the short exposure. The speculator category makes this more interesting still. At 138,555 net long, hedge funds are only 25,000 contracts longer than average, and compared with their bullishness in July 2016 have hardly got going. It is the other categories, Other Reported and Non-reported have taken 56% of the long side, and they are not behaving like skittish hedge funds at all. These include family offices, the ultra-wealthy and foreigners through Globex who are standing for delivery as a means of getting their hands on physical bullion —171 tonnes from the June contract alone. Conclusion Bullion banks are between a rock and a hard place. For years they’ve been playing the hedge funds as an angler hooks and plays a fish. That game has ceased and there is no easy way for them to get level. For the moment they are trying to put a lid on the price, but the cost has been rising open interest, and therefore rising mark-to-market positions. The August active contract runs off the board at the end of this month and bullion banks are likely to be forced into large delivery volumes again. Furthermore, the exchange for delivery arbitrage facility between Comex and the LBMA is broken, allowing Comex premiums to London spot to go unchallenged. It is increasingly possible the gold contract is evolving into deep crisis, and that force majeuremight have to be declared if, as seems increasingly inevitable, a wider banking crisis ensues. https://www.goldmoney.com/research/goldmoney-insights/a-potential-crisis-in-comex-gold
  2. KRO

    The coming Gold crash

    oh no $1807 remember Is a massive short squeeze at hand in the gold market? One of the greats in the business just warned, “There is no escape for them (the gold shorts).”
  3. for me, whatever is available that attracts the lowest premium, but only coins, bars have no interest only problem is you become a hoarder, rather than a stacker ,hate selling bought my first 4 sovereigns in 1965, from exchange and mart ,and still have them
  4. KRO

    The coming Gold crash

    Oh Dear bounced off 1757 again Is a massive short squeeze at hand in the gold market? One of the greats in the business just warned, “There is no escape for them (the gold shorts).”
  5. 1800 on Comex, spot won't be delayed much longer Gold futures rose above US$1,800 an ounce for the first time in eight years as low interest rates and a resurgence in coronavirus cases drive demand for the metal as a haven.- Bloomberg
  6. with Boris throwing money around like confetti , along with the uncertainty over the Brexit talks I can see the pound trading around $1.19 to 1.22, instead of the 1.22 to 1.28 range that it has been stuck in which should certainly be a positive for Gold in sterling terms
  7. All clear now, it was Wonger trying to get together the 88 tons he needed to deliver on his shorts It’s something which has not happened in history. A stunning 2.8 million oz of gold was marked for delivery in last month's contract equating 88 tonnes worth $4-5 billion. Somebody is really taking a big call that the US dollar will be devalued significantly. Read more at:https://economictimes.indiatimes.com/markets/stocks/news/brave-new-world-record-gold-delivery-hints-at-significant-dollar-devaluation/articleshow/76659118.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
  8. KRO

    The coming Gold crash

    "We know we should stop, but stopping means confessing and admitting you are doing something wrong.” - Nick Leeson just an observation
  9. It was a matter of seeing how many you could add to your cart For example at the moment you can add 6154 of the 20 euro Battle of Clontarf coin but not 6155 or above so 6154 left The bulk of the 50 euro coins were sold in the last week , around 377 if I remember correctly
  10. it was very strange looked early afternoon Friday, and there were 147 left went to look for card to order some more 15 minutes later none left
  11. Hi , joined to say very many thanks to The Ape for pointing out these now sold out bargains Bought my first sovereigns in 1965 and have rarely seen such a buy as these
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