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Commodity Carnage
The surge in the USDollar and "good" housing data has created carnage in commodities. Silver, crude, copper, and gold are all getting hammered this morning as the S&P is unchanged as moar Q€ was trumped by hawkish "good" data...
Crude in particular has broken convincingly below the $59.50 support level...
Charts: Bloomberg
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It's a trap!
Admiral Ackbar! Admiral Ackbar!
https://www.youtube.com/watch?v=4F4qzPbcFiA
BUY SILVER.
The true shiny ;-)
https://aadivaahan.wordpress.com/2012/01/19/shattering-midass-curse-gold...
I love it when the MSM is out there saying silver is an industrial metal all the time and then when there is fake "good" economic news(ramp in housing starts), the "price" tanks. Good times.
Buy the dips.
This is a free program I use that helps precious metals investors buy the dips. Its worked well for me.
This might not be the end of the dip even though they're hitting it hard today.
Sit back and let them smash the paper prices further.
Remember: Next Monday the 25th is a holiday in the U.S. and European markets (both will be closed) and it's also futures contract delivery on May 27th.
They will probably smash the paper silver back down into the low 16's next week. I'd love to see them knock another buck, buck-fifty outta the paper silver prices again.
That's when you pull the trigger on some fat stacks of phyzz.
I wish the prices on Pb and EtOH would dip.
THere are probably better buying oppottunities to come.
It depends on the inflation premiums/expectations. Yield pigs will get slaughtered, same as passive investments.
That's what's nice about the precious metals program. It helps you buy regularly at any price preventing that deer in the headlights look but you get more aggressive as the price drops and less as it rises. It is thoughtless and worry free once you set it up like dollar cost averaging but helps you buy dips.
It's worth a look.
Its worked well for me and that's why I'm passing it on, but to each their own.
Save_America1st:
You took the words right out of my mouth. Every time it gets into the low 16's, I reduce the amount of my $$ that the bank has. This kills 2 birds: cheap silver, and it gets the money out of the bank, where it's "always safe", LOL.
Gold, silver and anything else of real value cannot be allowed to roam free because it might upset the plans of those special snowflakes on Wall St. Sectors of the economy are starting to crumble but the stock market doesn't know or care about what those shares really represent because it's just one big casino. So spin the big wheel, it's only a little rigged.....
At some point they are going to push the miners under. You really have to wonder at what point the miners begin to throw the towel in and stop producing for these prices. They are all getting killed and it can not be real fun to watch your profits get hammered down over and over again.
What is the lowest cost one can produce gold and silver at now?
Former ZH silver expert Math Man said it was only "$5 bucks to dig it out of the ground".
Math Man! There's a blast from the past. Thanks for the memories, BoP.
I believe gold costs are close to $1200 an ounce for most of the major producers...
They aren't making any money.
Is not only a trap but an all out hail mary pass. They know the end is near and they going to throw everything they have at it
They are just skinning some chickens for the big fry...
They are capping at $1220 +/- and this can go on far longer than people imagine or have imagined. Certainly longer than I imagined. Capping gold is integral to pursiung their $IMF and Full Spectrum Dominance TM objectives. Gold in this context is very political (they aren't capping stocks, fine art, collector cars or NYC apartments, you'll notice). As has been said by others the first, best strategy one can pursue is to be out of debt to the greatest extent possible in conjunction with other robust moves for independent livelihood.
You mean, four pinstriped-suited bankers don't sit in a wood-paneled London office at ivory phones talking over the price of "Benefits Supervisor Resting" every morning and every afternoon?
"Hey, where's gold? 1200 an ounce, give or take 50 bucks. Same as always."
The last four years when gold gets above its 200 day moving average, it gets hammered below it every single time.
A rally? WTF is that? I can't remember the last time gold or silver "rallied". 2011 sometime...
And with "Belgium" buying US Debt, the financial circle jerk of CBs continues. As does the Blue Light Special on Commodities, that China can take advantage of.
The only gold stacker who does not risk being an outsider to manipulation, taxation or confiscation, is China. ZHers, wake the fuck up!
China does what it does because it is the NEW favored nation of the financial sociopaths. Where do you think they got all the "investments" after Mao destroyed it? Why do you think the "drift of gold" is to the East? And last, what do you think they OWE for all this having been done? Sometimes The Dragon Wins. I hate that.
Raise those rates Bitchez!
When the you-know-whos start calling themselves Stockstein and Dollarberg, then I'll believe it.
Best Comment EVER !!!!!!!!!
Seconded as one of the best posts I've seen in a long time. I'm going to use that.
Endless supply of hammers in the Fed's tool box.
It's hammer time!
It's easy to predict when commodities will go down. It's 24 hours after I purchase some.
Could you possibly give us a little warning, next time. Are you as reliable as Gartman?
I suggest the new investment strategy of taking a month investment and throwing it in the street that way you don't have to fuck around waiting for decades for it to 'mature' into nothing.
Little Boomer:
When it gets close to $16, load up. It will likely happen often till TSHTF.
All on a sudden, billions of toilet-paper-dollar's worth of silver not needed any longer. Makes sense. Markets work.
Dr copper getting a enema -2.6% . King dowa
new home starts was total bullshit and this is why they did it.
When the prices goes up, it's Housing. When you are heavily under the water or lost your house, it's Mousing.
The prices (if you are overly concerned about them) of gold & silver are a lost cause in the domestic U.S. market. China and U.S. foreign policy around the globe by extension, are now the primary drivers for the future. And that future could have a real nasty way of accelerating a lot faster than anyone might expect. The 'glacial pace' is definitely in the past.
Must the entirety of markets forever be hostage to trivial bits of US-centred 'data'...???
The "data" hasn't mattered for the last 5 years. The only thing that matters is which fucktard from the fed is going to get on TV and spew more horseshit to the banksters that continue to line their pockets. Every month, if anyone from the FOMC farts in the wind, it's unicorn dust for the markets.
The "data" drives the machines...never mind "the traders"...there aren't any anymore...
All this means is I can buy some more Shiny at a lower price.
Guees we should plan on all the mines going under. Zerohedge should do a story on how low silver can go before mines start shutting down.
Call it Industry Consolidation. The rigged game where big fish school and eat little fish.
The TBTF guys with easy/free money hammer specific commodities, and make money. They then take that easy money and buy up the failed businesses for a fraction, after they've bankrupted.
Some of these predators may even be fronting for China, the way Belgium is fronting for them to buy US Debt.
As I've said before, the ONLY interests and allegiance that China has, is to itself. They're busy buying real wealth and businesses (openly or under cover), and playing the game of Extreme Capitalism.
I know its hammer coming (actually thought it would be Friday) and yet i still get pissed off every time i see it.....actualy i get more pissed off than the time before......it absoluely makes no sense to me
+1 for actualy i get more pissed off than the time before
The CRIMEX and GLD/SLV are bleeding massive quantities of PHYSICAL Silver an Gold. Really do think this time its different. Keep Stacking
From Ed Steers column today
"There was another big withdrawal from GLD yesterday. This time an authorized participant removed 182,174 troy ounces. Since May 1, there has been 755,776 troy ounces removed from GLD. With the current gold rally about four days old, one would assume that gold should be pouring into GLD, but that's certainly not the case at the moment. Ditto for silver. And as of 6:40 p.m. EDT yesterday evening, there were no reported changes in SLV.
But when I checked back just before 2 a.m. EDT this morning, I saw that---surprise, surprise---there was another chunky withdrawal from SLV as well. This time it was 1,194,813 troy ounces of the stuff. That makes 5.1 million ounces withdrawn in the last three business days---and a stunning 12.7 million ounces since April 27. By whom---and for what reason?"
Bleed out and fucking die already, you bastards.
Italy in charge of the money.
Nothing says "18%" more than that.
Planned raid. First publish false information about housing then start up the interest rate propaganda. Another perfectly planned raid, what a disgusting group of people!
All I know is that no matter what happens, UVXY goes DOWN!!!
People were getting cocky, forgetting who runs Bartertown again.
I got Fiat for silver....I got, red hot, freshly printed, fiat for anyone's silver...
Gold is money and in deflation gold buys more.
Just a reminder. The price of gold and silver will never, ever, ever be valued anywhere near what it should be because that's "the plan" by accident of kneecapping their own valuable commodity. Anyone holding them is just in the position of being a useful idiots acting as a profitable storage mechanism for the kike bankers. Who are the very same people that set the price on all the PM and market the 'intrisic value'.
Obviously their 'cunning plan' has backfired on them. The price will never be high enough for anyone to care about selling them unless under dire conditions, because all of the people holding it are still employed and doing business. Therefore what's going to happen is the hook nose money lenders are going print more money out of thin air to increase the money supply and more than likely cut the retail/services/hard goods market to shreds further. Or because the global debt including derivatives, is standing at 3.8 quadrillion dollars, it only takes a .01% interest rate to 'magically' print trillions out of thin air into the total supply of credit while the IMF sits there blessing each monthly accruement (because the IMF while full of inbred kike halfwits, is air traffic control for this shitty mess).
Grab a deck chair otherwise and a cup of coffee, it's going to be hillarious how horribly this turns out once Israel feels like they are backed into a corner and launch the Sampson option to trigger WW3...oh shit...getting a head of the playbook that's being run. Anyone that was thinking they were their friend. You ain't. Believe me. You are just goy slaves.
The Banksters won't be satisfied until 1 share of Netflix is worth an ounce of gold,1share of Amazon is worth a pound of silver,and 1 share of Priceline is worth 100 barrels of oil..Only then will we have true price equality
The madness can't unwind without deleveraging in a severe fashion. Say what? That is the outcome if the FED were to raise rates to somewhere decent like, 7% (LmfAO). So guess what, its more QE, more central bank participation in the market. The good ol' manufacturing shell, the United States of America, is in a fucking depression. So, the FED will not raise interest rates, and will continue debt monetization. It will continue to expand its balance sheet. Its like playing Russian roullete when the odds are 10,000 to 1, but the odds get increasingly unfavourable, until the point that a bullet passes through your head. Too late. You knew it was coming, but were hoping against math. Debt levels are sky high and rising. The only way to maintain this is with lower and lower interest rates. It will go parabolic very quickly, suddenly, but until then.... Perhaps under the old rules it would have collapsed already, back when the punch bowl was taken away, not just topped up until you died. We are in deep space now. Approaching NIRP. So, until the inevitable happens, the U.S stock market will push higher, gold and silver will get battered down. If you need yield, then by all means put some fiat into the stock market. I'd be more focused on protecting wealth, not squeezing out some risky yield because you see new highs. Personally, I can't fucking wait until this thing falls on its head.
They are really monkey-hammering the prices today on this housing start data.
Hopefully we close down less than 1/2 the morning decline and that will be a victory.
Gold closes CRIMEX at $1215 and silver $17.27. Not too shabby bitchezzzz !
In uncertain times you want to have all your money in the stock markets, which can only go up.
I had an argument with a friend of mine the other day, he said even when his stock goes down he just rides it out and it always ends up being worth more.....he really believes it will always go up. Funny thing is he's probably right....but when the stock market is at 50,000 what will your dollars be worth in real terms? How many slices of bread will you be able to buy with that multi-million dollar portfolio?
Crude just sent another shock wave through frackers. Any hope of a creeping recovery in oil prices is now dashed on the rocks of Saudi oil pumps. This Sunday I listened to a radio report from the North Dakota Fracking Gold Rush. A drilling firm manager got a call on Thursday from headquarters, he was told to stand by Friday for important news concering operations. The phone rang Friday, he was told in short : " Shut everything down, stop all drilling, send everyone home with a pink slip. Keep only the staff needed to mothball equipment and deal with wells just coming in." " No further information on operations resuming, just turn off the lights and send the folks home". Obviously, this driller just had his credit line cancelled by a major lending institution. Frack Drilling was living of credit, the minute a line was pulled, it all had to be shut.
Saudi Arabia's war on Frackers just gained another battle field victory.
Mind you. Saudi is our staunch allie. We back their Yemeni war, their intelligence operations in alliance with Mossad. The Washington imperial powers don't care about American jobs, they care about using Saudi connections to world terrorism to guide the terrorists to attack targets chosen by America. Like Syria, Iran, Russia etc.
3,000 years from now they'll be saying "an ounce of gold has always been able to buy you a nice single share of AAPL"....hah
It was a joke...jesus.
Picked up 90% silver quarters for 13.5x face -- only spent $500 but plenty of jingle for the jungle. Previously with the same numbers bought all mercury dimes mostly in excellent shape. I have no regrets. Support your local coin shop -- real money is a terrible thing to waste.