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2M ounce gold trade/grab

Discussion in 'Topical Discussions (In Depth)' started by michael59, Aug 25, 2017.



  1. michael59

    michael59 heads up-butts down Site Supporter ++ Platinum Bling

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    UM, so I was clicking along at the yahoo news and there was an article of "Wow it supposed to be a quiet Friday" thingy and yet somewhere around 21K trades were made on 2M oz'er-s of gold. and I get here and it is crickets.

    Look guys I am thinking this gold shift is just going to F me because that kind of volatility is going to send the frn vs AU up the whaw'zoo. I am thinking poop by the time I get to the coin dealer that instead of paying 45frn's I'ma-gona pay 60. Some days it just don't pay to get out of bed, it really just don't.
     
  2. michael59

    michael59 heads up-butts down Site Supporter ++ Platinum Bling

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  3. oldgaranddad

    oldgaranddad Gold Member Gold Chaser Site Supporter ++

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    Two million ounces of paper notional value contracts being rolled over to next month this week because next weekend is a long weekend and the traders want to be at their summer homes in the Hamptons. I know first hand because I see those A-holes in their fancy cars on the Sunrise Highway. I live in what the elites call drive-over country. I love summer but these yo-yos make wish for winter.
     
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  4. oldgaranddad

    oldgaranddad Gold Member Gold Chaser Site Supporter ++

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  5. michael59

    michael59 heads up-butts down Site Supporter ++ Platinum Bling

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    IDK, was hoping to find out if it was paper or if it was an actual metal transfer myself.

    I am going to be in the market soon but I don't want marked upped toilet paper screwing me up.
     
  6. michael59

    michael59 heads up-butts down Site Supporter ++ Platinum Bling

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    F me running that yahoo's hyper txt mark up links are F'ed.

    Some one point me in the correct direction...
     
  7. michael59

    michael59 heads up-butts down Site Supporter ++ Platinum Bling

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    This is what I get when I search bar "gold trades on 8/25/2017": https://www.bing.com/search?q=gold+...7a296ee4ff916947e&cc=US&setlang=en-US&PC=HCTS

    a bunch of shit that has nothing to do with volatility. SO? did the yahoo just burp and din't say I am sorry or did they fart and blamed it on some one else because fro what I see the volatility of the market kind of matches the gold trades on one of these links.

    I so hat idiots and I hate to be played as one.....I'm thinking Fake News.
     
  8. mayhem

    mayhem 497th Recon Tech Silver Miner Site Supporter

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    Solution; IED's, not that I know what they are. I just read about them in the Palm Beach Post.
     
  9. louky

    louky Silver Member Silver Miner

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    "2 million trade and it's crickets here on the forum "

    You must not be looking in the right threads. In the lunatic thread, the GLD dump was noted within minutes of the trade, well before any yoohoo articles
     
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  10. BarnacleBob

    BarnacleBob GIM Founding Member & Mod. Founding Member Site Mgr Site Supporter

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    Its all paper being traded... WHY PAPER: The cost of transporting, insuring & storing gold is between 3%+ - 6% of the gross value. Simply stated it is not financially feasible to purchase physical gold for temporary financial protection against volatile market swings & activity. The trader purchases a CLAIM on physical gold, usually employing margin thereby avoiding the incurred 3-6% costs associated with taking delivery of the physical gold. If you research LBMA & COMEX rules, the claim(s) if called for delivery by the trader, spec or investor can be settled in either cash, credit or the physical commodity at the discretion of the warehouse. The warehouse (COMEX) has the option to decide what media of exchange will be used at settlement.

    For instance, real gold & silver users such as jewelers, electronic & automotive manufacturers, etc. can demand physical & receive the product... Allocated buyers can also demand delivery... however temporary specs, traders & investors purchase CLAIMS on unallocated product which is not subject to actual delivery of physical product.

    A physical holder of "Allocated gold or silver" can move his physical gold or silver into an unallocated account for the purpose of lending or speculation for which the holder earns a premium.

    COMEX etc. cannot in most cases ever be called out when they possess the various options to settle trades in cash, credit or physical.....
     
  11. Scorpio

    Scorpio Скорпион Founding Member Board Elder Site Mgr Site Supporter ++

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    I would state something of note that is going on though,

    We have this one with gold, but it has also been happening in other commod markets,

    Copper for one, and grains for another.

    There is some serious excess dough in the markets, well beyond reasonable levels of fiat, and it is making its way to the commods space IMO>
     
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