Where do you get that from?
Strange copper down 2% when such a strong economic number comes out.
Markets are all over the shop.
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Where do you get that from?
Strange copper down 2% when such a strong economic number comes out.
Markets are all over the shop.
Back in my day (Muldoon Era) when free market hypothesis in NZ was downgraded as an useless "academic thing"...The academic boffins prattled on that, over-regulated markets impaired networked communication systems... thereby distorting the self regulating market mechanisms...
Those Self Regulation failures create undesirable market conditions requiring more regulation and this type of activity becomes self-perpetuating and creates "The Pressure Cooker Syndrome", accelerating the need for more and more market patches (regulation or market manipulation) to ease those increasingly undesirable market pressures...
Eventually the natural correlations between networked markets breaks down, market information became meaningless and a Hydra is created (cut of one undesirable head and two grow in its place)..when this stage is reached the "regulatory pressure cooker" is ready to explode...
Current happenings in the Market World..The biggest market factor, the "available money" factor, is presently extremely over regulated thanks to the new previously untested (in the long term) QE fiscal tool ..... This tool was needed as the alternative was a destructive depression...
"Market sectors all over the shop" quote Daytr...........Hmmm... This sounds familar, and from the past experience, the final outcome (a mean reversion happening) could still be years away yet
But...I'm old and stupid and the world has changed and populated with younger smarter humans and their superior technologies which won't allow anything bad to happen... so we can take comfort in knowing it's all different this time.
POG took two years {Aug 2011 to
Aug 2013] to drop from $1900 to $1200, I don't see it making a V shaped recovery. But I think that a basing pattern between $1200 and $1300 is a possible scenario for the rest of this year.
The GFMS survey reported something similar & if that's the source then its unreliable.
All gold into China used to come through HK BU now can go direct to Shanghai & Beijing.
Unfortunately the likes of the world gold council & GMFS haven't woken up to the change & only record HK imports.
Koos Jensen has been pretty good & reporting gold imports into the PBOC.
Hoop I agree I think. QE or zero interest rates creates poor decisions & end up distorting markets.
I m thinking us POG would drop a bit further tomorrow afternoon and bounce back to 1250 in a day or two
possible although there could be some Asian physical buyers out there looking for bargains as they haven't seen prices this low for a while. Monday night will be the real test. I see $1220 as pretty good support.
Might be a good time to get more gold stocks before HY reports
I didn't realize the spec length on Comex had got so big!
No wonder gold got thumped!
Could be more long liquidation, that's a very big position.
From Bank of America
Precious Metals: Gold prices slumped by over 2% and broke through a key resistance level of $1,250 on Friday after US jobs data came in stronger than expected. The US created 257,000 jobs in Jan, surpassing consensus at 236,000 (our research team had expected 265k). With around 20 million ounces of net length declared by the latest CFTC data, the market was vulnerable to a wash-out. These figures will add to the expectation of a near-term increase in US interest rates.