The GOLD scream room
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- dualstow
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Re: The GOLD scream room
Nice to see gold at 1479.
Stocks were supposed to get a big boost from the latest trade & tariff talk. Now flat.
Stocks were supposed to get a big boost from the latest trade & tariff talk. Now flat.
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Re: The GOLD scream room
Hey now, gold is over $1,600/oz.
Gotta love the Everything Bubble
Gotta love the Everything Bubble
You there, Ephialtes. May you live forever.
- dualstow
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Re: The GOLD scream room
Indeed.
— Willing, ‘The Mandibles’These are the good times.
- dualstow
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Re: The GOLD scream room
On CNBC, it was noted that even as people continue to pour money into the market (Stock Scream thread has an article about Mom and Pop investors excited by fee-free trading), there is also money going into classic safe havens. Hence the falling yields and rise in the price of gold. Why are they also going into safe havens? Supposedly a lot of it *is* corona. Some think that the market is finally ready to tank because corona is eating into profits: airline companies, internationally sold beverages, lots of things.
Others think that this will be wrapped up by May- that the virus will be contained, things will go back to normal, and in the rear view mirror, this will look like a buying opportunity.
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Re: The GOLD scream room
Or a selling opportunity for gold.dualstow wrote: ↑Sat Feb 22, 2020 11:03 amOn CNBC, it was noted that even as people continue to pour money into the market (Stock Scream thread has an article about Mom and Pop investors excited by fee-free trading), there is also money going into classic safe havens. Hence the falling yields and rise in the price of gold. Why are they also going into safe havens? Supposedly a lot of it *is* corona. Some think that the market is finally ready to tank because corona is eating into profits: airline companies, internationally sold beverages, lots of things.
Others think that this will be wrapped up by May- that the virus will be contained, things will go back to normal, and in the rear view mirror, this will look like a buying opportunity.
I'm going to be selling a modest amount but not for that reason; I'm planning to buy a house this summer and am raising cash.
- dualstow
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Re: The GOLD scream room
Yes
I'm close to selling some paper gold at breakeven, gold which I already replaced by buying coins months ago.
I'm close to selling some paper gold at breakeven, gold which I already replaced by buying coins months ago.
- Cortopassi
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Re: The GOLD scream room
Today is a shining example of the calming effect of the PP. Gold and bonds more than making up for the stock massacre.
Re: The GOLD scream room
I'm a little ashamed to say I get a bit excited on days like today, so maybe not so "calming". Happy to have days like this which make up for the tracking error against stocks when they're humming along to new highs every day.Cortopassi wrote: ↑Mon Feb 24, 2020 8:41 am Today is a shining example of the calming effect of the PP. Gold and bonds more than making up for the stock massacre.
(a lot of my future compensation is stock-based, so there's some sadness inside too as I think about that)
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Re: The GOLD scream room
Interesting that gold is getting crushed back down but bonds are holding.
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Re: The GOLD scream room
Yes, gold is getting "crushed back down" to being up only $16 on the day. Woe is me!Cortopassi wrote: ↑Mon Feb 24, 2020 1:59 pm Interesting that gold is getting crushed back down but bonds are holding.
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Re: The GOLD scream room
Crushed was a hard word, but when you consider that stocks held their losses, bonds held their gains, and gold did this in the afternoon, it is definitely an odd man out for some reason.Libertarian666 wrote: ↑Mon Feb 24, 2020 2:50 pmYes, gold is getting "crushed back down" to being up only $16 on the day. Woe is me!Cortopassi wrote: ↑Mon Feb 24, 2020 1:59 pm Interesting that gold is getting crushed back down but bonds are holding.
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Re: The GOLD scream room
Gold has always been the most volatile component in the PP, by far. And it marches to its own drumbeat. Same with silver. Bonds and precious metals were up today and helped to offset the stock market's trip to the woodshed. Life is good.
Re: The GOLD scream room
If Budd were still here, he would be complaining that gold and bonds "failed to buoy the PP as advertised" since they merely softened the blow from stocks instead of more than offsetting the losses
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Re: The GOLD scream room
LOL. Budd was one of those ppl who really needed to be in just cash or short term bonds.
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Re: The GOLD scream room
Let me channel Budd here, and say, what the hell? I mean, sure it is still technically up for the past few days, but is this the old BS of people selling gold to fund their margin calls?
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Re: The GOLD scream room
4 days and no gold scream room discussion, interesting.
tech, I was wondering what your thoughts are over the past 2-3 days where gold has languished. It was upsetting to me this morning to see it down again, but then I ran a 3 month comparison and felt better.
I know there is no 1:1 guaranteed inverse correlation, but it did start out really strongly when the markets tanked.
tech, I was wondering what your thoughts are over the past 2-3 days where gold has languished. It was upsetting to me this morning to see it down again, but then I ran a 3 month comparison and felt better.
I know there is no 1:1 guaranteed inverse correlation, but it did start out really strongly when the markets tanked.
Re: The GOLD scream room
Personally, I think it's because the market is sniffing deflation... and they are going back to the old trusty deflation handbook. Long bonds are *the* asset right now and nothing else matters. If the virus starts to take hold in the U.S. I expect to see gold react a bit more. I also think it will react more if/when the Fed announces rate cuts or QE. But I'm not surprised to see it consolidating right now in the short term while bonds are running like they stole something. From a long term perspective, it's probably better for it to consolidate and digest its recent gains a bit. If it kept screaming higher like bonds are it would also put gold at risk of a blowoff top.
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Re: The GOLD scream room
A bit light on Gold at the moment. Considering doing my IRA contributions early (I usually wait until the last minute) to get back in range.
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Re: The GOLD scream room
I think we must be in the end times.
I say that because I sold a chunk yesterday just before today's plunge.
This is against all previous history, which would predict that it would soar after I sold.
I say that because I sold a chunk yesterday just before today's plunge.
This is against all previous history, which would predict that it would soar after I sold.
Re: The GOLD scream room
Is is possible that gold is loosing because the investors want to free up cash to buy stocks, which can stop plummeting any moment if the fear goes away?Cortopassi wrote: ↑Fri Feb 28, 2020 8:20 am I was wondering what your thoughts are over the past 2-3 days where gold has languished.
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Re: The GOLD scream room
I don't think that's the explanation. I think speculators are selling to meet margin calls in the stock market, but of course now there are also margin calls in the gold market.Ugly_Bird wrote: ↑Fri Feb 28, 2020 12:44 pmIs is possible that gold is loosing because the investors want to free up cash to buy stocks, which can stop plummeting any moment if the fear goes away?Cortopassi wrote: ↑Fri Feb 28, 2020 8:20 am I was wondering what your thoughts are over the past 2-3 days where gold has languished.
But once everything settles out I think gold will resume its uptrend.
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Re: The GOLD scream room
Wow. If you could only predict this stuff.
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Re: The GOLD scream room
I can predict it.
It will fluctuate!