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Gold Monitoring Thread $ (USD) only


Message added by ChrisSilver,

The Gold Monitoring topic (USD) only is for discussion about the gold price in USD. For the GBP Gold Monitoring topic please see here

Please do use the other sections of the forum for other discussions or if you think that your post is likely to that this topic off track it is likely better suited to it's own topic in another section of the forum.

There is also a general hangout topic.

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I was just watching an investor showing how to get returns and he threw a dart at a board of random shares and managed to beat a professional managed portfolio, Warren buffet did the same with a bunch of monkeys and beat a strategic portfolio...at the end of the day the only thing guaranteed on a professionally managed graph driven investment plan is that the professional will make money, the hedge fund will make money but the person 8nvesting will be lucky to beat the market.

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  • 1 month later...

Well, it has not been a good 24 hours for gold - down by about 4.6%.  It started following the end of the FED meeting yesterday.  It seems that the FED may be looking to have two interest rate increases in 2023 (yes 2023) and so people are selling gold.  Though a cynic might view this fall in price as a deliberate ploy by the banks eleven days before the implementation of Basel III.  After all, even though it is so close, very few people really know the full implications of Basel III.  If, as some say, paper trading becomes unattractive and so the banks have to unwind their positions, then a low price would very much suit them.

Gold-17-6-21.jpg

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  • 1 month later...

Monday's gold “flash crash” is discussed in this video in the context of technicals, fundamentals, and price manipulation from the bullion banks:

"...it was a black hole [at that time of day] of liquidity, no trader would ever sell into that if they wanted to get rid of gold in an orderly way..."

"...this we've seen many times before. Clearly, this is intervention, manipulation at the highest degree...".

 

 

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3 hours ago, Zhorro said:

no trader would ever sell into that if they wanted to get rid of gold in an orderly way...

similar to how someone would sell an item quickly and cheaply, in order to buy something that

they believe would make them more money. all markets can be 'irrational for longer than you are

solvent'. a poor understanding of markets that leads to the conclusion of manipulation?

 

HH

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let's have a pretend scenario:

 

I ask a crystal ball.

me: are we currently in a multi year gold bull market?

crystal ball: yes.

I rush to put all my money into gold.

upon some thought I ask the crystal ball another question.

me: how far into the gold bull market?

crystal ball: halfway through.

upon hearing that, I sell all of my gold... why? :) 

 

and no, the answer is not manipulation.

 

HH

Edited by HawkHybrid
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45 minutes ago, HawkHybrid said:

let's have a pretend scenario:

 

I ask a crystal ball.

me: are we currently in a multi year gold bull market?

crystal ball: yes.

I rush to put all my money into gold.

upon some thought I ask the crystal ball another question.

me: how far into the gold bull market?

crystal ball: halfway through.

upon hearing that, I sell all of my gold... why? :) 

 

and no, the answer is not manipulation.

 

HH

Most rational people would want to get the best price they can for their assets.  So dumping $4 billion of gold contracts on a thin market when many traders were away from their desks or on holiday does seem to be dubious.  It was probably aiming for a cascade effect with stop-losses being triggered so as to exacerbate the drop.  It has been suggested that this fall has enabled some bullion banks to buy gold more cheaply to cover their unallocated gold positions in readiness for Basel III.

Even if you do not buy into the above scenario, if you owned five houses on the same street would you really put them all on the market at the same time?  As I said, most rational people would want to achieve the best price for thier assets.

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14 minutes ago, Zhorro said:

As I said, most rational people would want to achieve the best price for thier assets.

traders are not rational people. (not in that sense anyway).

if those youtubers knew what they were talking about, they wouldn't get it so wrong time

and time again.

if you go through my scenario it makes perfect logical trading sense.

those that are ignorant of the trade will think at first glance that it makes no sense at all to

sell gold when it's just getting into the exciting part of it's bull market.

don't think in isolation. precious metals is not the be all and end all that gold bulls,etc like

to think it is.

 

HH

Edited by HawkHybrid
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3 hours ago, HawkHybrid said:

traders are not rational people. (not in that sense anyway).

if those youtubers knew what they were talking about, they wouldn't get it so wrong time and time again.

if you go through my scenario it makes perfect logical trading sense.

those that are ignorant of the trade will think at first glance that it makes no sense at all to sell gold when it's just getting into the exciting part of it's bull market.

don't think in isolation. precious metals is not the be all and end all that gold bulls,etc like to think it is.

 

HH

The dump of $billions in gold contracts over a matter of a few minutes breaks the rules - forget about any trading logic you might conjure up, it breaks the rules and it should be investigated and prosecuted. But like all the similar dumps on Sunday nights and for example the 2am / 3am dumps coming out of 'Eastern Europe' (JPM proxy) a few years ago, these won't get investigated. These are officially sanctioned.

Always cast your vote - Spoil your ballot slip. Put 'Spoilt Ballot - I do not consent.' These votes are counted. If you do not do this you are consenting to the tyranny. None of them are fit for purpose. 
A tyranny relies on propaganda and force. Once the propaganda fails all that's left is force.

COVID-19 is a cover story for the collapsing economy. Green Energy isn't Green and it isn't Renewable.

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3 minutes ago, HawkHybrid said:

rubbish, which rules does it break except for your personal rules?

HH

Position limits on the COMEX. 

Always cast your vote - Spoil your ballot slip. Put 'Spoilt Ballot - I do not consent.' These votes are counted. If you do not do this you are consenting to the tyranny. None of them are fit for purpose. 
A tyranny relies on propaganda and force. Once the propaganda fails all that's left is force.

COVID-19 is a cover story for the collapsing economy. Green Energy isn't Green and it isn't Renewable.

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26 minutes ago, Zhorro said:

Well, after the "flash crash" at the start of the week, the gold price is now higher than it was before the crash (so far up 0.94% on the week).

Gold-13-8-21.jpg

on the contrary to breaking rules for creating a big drop, if you look at the candlestick weekly

chart, does it look like we are forming a bullish hammer reversal?

(that's if the price holds until the end of the week)

 

a bullish hammer reversal is a very normal/common market occurrence that happens in many markets.

not just gold and other precious metals.

 

HH

Edited by HawkHybrid
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Just now, HawkHybrid said:

on the contrary to breaking rules for creating a big drop, if you look at the candlestick weekly

chart, does it look like we are forming a bullish hammer reversal?

(that's if the price holds until the end of the week)

 

HH

What are you talking about?
Why are you posting charts from Bullion-by-Post and talking about candlesticks?

i know why i have you on ignore - i made a mistake; i looked to see what you posted. Don't answer - We will never agree on almost anything.

Always cast your vote - Spoil your ballot slip. Put 'Spoilt Ballot - I do not consent.' These votes are counted. If you do not do this you are consenting to the tyranny. None of them are fit for purpose. 
A tyranny relies on propaganda and force. Once the propaganda fails all that's left is force.

COVID-19 is a cover story for the collapsing economy. Green Energy isn't Green and it isn't Renewable.

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9 minutes ago, sixgun said:

What are you talking about?
Why are you posting charts from Bullion-by-Post and talking about candlesticks?

i know why i have you on ignore - i made a mistake; i looked to see what you posted. Don't answer - We will never agree on almost anything.

 

it's no wonder why @Kman got fed up of posting chart updates.

some people are too amateur to recognise simple chart formations/patterns.

 

HH

Edited by HawkHybrid
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4 minutes ago, HawkHybrid said:

no wonder why @Kman got fed up of posting chart updates.

some people are too amateur to recognise simple chart formations.

HH

Kman had a signature about deflation - and some people would tell him he was wrong and that we were and are heading into inflation. It is happening right now i told him. Go look at Shadow Stats - look in your shopping basket - a member even posted some price data he had personally collected over several years. Kman was wrong. i don't know exactly why he stopped posting but he was wrong and couldn't see it.

When these entities dumped $billions in gold contracts - in concert - over a few minutes - at market - on a Sunday night, they breached position limits. We know this goes on - a few scapegoats have been prosecuted for this. There is prolific spoofing going on at moment, 2 (token) traders were convicted of spoofing by the SEC and it is promised things will get cleaned up. This is a lie. It's a joke. These people wouldn't know how to lie straight in bed. 

You won't find the details of what i am talking about on charts from Bullion-by-Post and in the form of a candlestick - i don't know what you are thinking by posting this. You are in the same boat as Kman. We have almost never agreed - not on the scamdemic, not the injections, not the nature of banking, the market manipulation. You say i am a lunatic who endangers lives and sees conspiracies round every corner. So be it, i wear this as a badge of honour.

Always cast your vote - Spoil your ballot slip. Put 'Spoilt Ballot - I do not consent.' These votes are counted. If you do not do this you are consenting to the tyranny. None of them are fit for purpose. 
A tyranny relies on propaganda and force. Once the propaganda fails all that's left is force.

COVID-19 is a cover story for the collapsing economy. Green Energy isn't Green and it isn't Renewable.

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16 minutes ago, sixgun said:

Kman had a signature about deflation - and some people would tell him he was wrong and that we were and are heading into inflation. It is happening right now i told him. Go look at Shadow Stats - look in your shopping basket - a member even posted some price data he had personally collected over several years. Kman was wrong. i don't know exactly why he stopped posting but he was wrong and couldn't see it.

kman was wrong, similar to how @LawrenceChard was wrong about saying that part of the silver price

was up due to hype. all the youtube pumpers were right despite the drop in the price as everyone seems

to be congratulating them on how right they are to come up with a manipulation story.

the only thing that kman was wrong about was sharing data/research with ungrateful people too blind to

see how generous he was.

 

HH

Edited by HawkHybrid
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3 hours ago, HawkHybrid said:

kman was wrong, similar to how @LawrenceChard was wrong about saying that part of the silver price

was up due to hype. all the youtube pumpers are right despite the drop in the price as everyone seems

to be congratulating them on how right they are to come up with a manipulation story.

the only thing that kman was wrong about was sharing data/research with ungrateful people too blind to

see how generous he was.

 

HH

The last time you said I was wrong, I asked you to explain, which you failed to do, but now you are repeating the same unfounded and inaccurate claim, and will probably again fail to explain.

Actually I probably got it wrong last weekend, in your terms. As I said in an earlier post 

 

By luck or good judgement, we held off our daily top up buying of new bullion coins late last week, so instead of buying silver based on £18.50+, when we resumed early this week, we were buying based at spot prices under £17 per ounce. This also applied to gold bullion, where prices dropped from £1300+ to about £1250 per ounce, although gold has now recovered some ground and is currently over £1270 per ounce.

Since then, we bought about 620 ounces of gold, and 14,000 ounces of silver.

I have not bothered to work it out, but at a quick guess, we saved or made about £30K on the gold and about £20K on the silver.

I'm looking forward to the next time I am wrong. 😎

 

P.S. A slight apology is perhaps due. My comments and actions mentioned above were all done while thinking about P.M. prices in sterling. I just noticed that this topic is for monitoring gold prices in U.S. dollars only. My excuses are (1) that I tend to think in English, and (2) that I was primarily responding to a tagged mention, and did not see the topic heading until a few hours later. 🙂

Edited by LawrenceChard

Chards

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2 hours ago, LawrenceChard said:

The last time you said I was wrong, I asked you to explain, which you failed to do, but now you are repeating the same unfounded and inaccurate claim, and will probably again fail to explain.

you were right. you said be wary of the hype causing higher silver price than they should be

and since you've said it the silver price has dropped by a measurable amount. this also

coincides with less pumping of the silver price via youtube,etc.

this fact in written in the pages of history. but forum members just won't acknowledge it.

black and white, plain as can be. it was another example of how ungrateful some forum

members are. you didn't have to share that data but you did. following your suggestion at

the time would have saved forum members a penny or 2.

I said that you were right, but I don't see any other forum members doing the same despite

the fact that anyone who followed your suggestion would have made money.

the proof of the pudding is in the eating.

 

talk about being brainwashed. people rather believe in extravagant manipulation excuses than

simply making a winning trade.

 

HH

Edited by HawkHybrid
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2 hours ago, sixgun said:

When these entities dumped $billions in gold contracts - in concert - over a few minutes - at market - on a Sunday night, they breached position limits. We know this goes on - a few scapegoats have been prosecuted for this. There is prolific spoofing going on at moment, 2 (token) traders were convicted of spoofing by the SEC and it is promised things will get cleaned up. This is a lie. It's a joke. These people wouldn't know how to lie straight in bed. 

I take it they have done a Nav? (Navinder Singh Sarao)

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Sarao wrote (actually had someone to write for him) an programme to book then cancel trades.  Known as spoofing and is monitored for on all exchanges.

I understand that the flash crash trades we’re fully executed.  

Sarao was subsequently arrested in (I understand) his bedroom at his parents house in Hounslow.

Best

Dicker

Not my circus, not my monkeys

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2 minutes ago, dicker said:

Sarao wrote (actually had someone to write for him) an programme to book then cancel trades.  Known as spoofing and is monitored for on all exchanges.

I understand that the flash crash trades we’re fully executed.  

Sarao was subsequently arrested in (I understand) his bedroom at his parents house in Hounslow.

Best

Dicker

All good for banks to do it though eh? Or goldmans big short. Or Soros crashing the pound. Not one of them went to jail - funny old thing.......

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