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    Gold

    Is getting absolutely hammered - $1639 and falling
    "Is someone you don't like allowed to say something you don't like? If that is the case then we have free speech."- Elon Musk

    #2
    ..
    Last edited by Jeff Maginty; 6 June 2022, 17:34.

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      #3
      Originally posted by Jog On View Post
      Is getting absolutely hammered - $1639 and falling
      End of the world innit.
      What happens in General, stays in General.
      You know what they say about assumptions!

      Comment


        #4
        Originally posted by Jog On View Post
        Is getting absolutely hammered - $1639 and falling
        The majority of gold is "paper gold" that is not backed up by actual gold; it is just like betting at Ladbrokes. Many investors have are concerned that the banks can not pay out on demand as there is not enough gold to meet demand therefore, investors are selling up.
        "A people that elect corrupt politicians, imposters, thieves and traitors are not victims, but accomplices," George Orwell

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          #5
          You've got the power to show you're indestructible.

          Comment


            #6
            ..
            Last edited by Jeff Maginty; 6 June 2022, 17:34.

            Comment


              #7
              Originally posted by Jog On View Post
              Is getting absolutely hammered - $1639 and falling
              the Bloomberg was talking the gold up for the past few weeks ... and now they are taking profits ...
              easy peasy lemon squeezy
              If UKIP are the answer, then it must have been a very stupid question.

              Comment


                #8
                Article from last week but still relevant showing that some major US banks have massive short positions they need to try and get out of, depending on the outcome of this fiscal cliff thing gold could shoot up... - Maybe they need to drop the price to get out of their shorts and/or create a nice big dip to buy in the event of financial meltdown...

                Gold futures market heading for crisis

                The silver situation is even worse:

                While there is a large stock of gold that can theoretically become available at higher prices, the same cannot be said for silver. We shall look at the position of the US banks first. The first silver chart shows that even though silver is trading well below its 2011 highs, US banks’ net shorts are substantially higher than might be expected. The long figure is down to only 625 contracts, while the shorts are 40,198, so these less-than-four-banks that reported last week have a net short exposure of nearly 200,000,000 ounces, or twice the estimated annual supply of silver available to investors after industrial demand is allowed for.
                How the &%£^ is stuff like this allowed to happen? How can they open paper positions for twice the permitted amount of physical available? have they learnt nothing over the last 4 years?!
                "Is someone you don't like allowed to say something you don't like? If that is the case then we have free speech."- Elon Musk

                Comment


                  #9
                  Originally posted by Paddy View Post
                  The majority of gold is "paper gold" that is not backed up by actual gold; it is just like betting at Ladbrokes. Many investors have are concerned that the banks can not pay out on demand as there is not enough gold to meet demand therefore, investors are selling up.
                  The downfall triggers are more violent because bets are on margin. If the downward price movement on long position exceeds deposit set against the position, it will get closed, triggering sell order thus sending the price even lower. And so down it tumbles.
                  If UKIP are the answer, then it must have been a very stupid question.

                  Comment


                    #10
                    Originally posted by Jog On View Post
                    How the &%£^ is stuff like this allowed to happen? How can they open paper positions for twice the permitted amount of physical available? have they learnt nothing over the last 4 years?!
                    If UKIP are the answer, then it must have been a very stupid question.

                    Comment

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