Gold spot surpasses > $3300

[68Camaro]

There are rumors that JPM has lost control of the LBMA/Comex.

What are you hearing? They seem to have lost control of gold for the moment, but they haven't lost control of silver yet, unless there are other signs that their end is near.

[thecrazyone]

Looks like it got to $3135 today?

[68Camaro]

Yeah, it hit 3145 early yesterday morning, has been floating around in the 3110 to 3140 range.

[shinnosuke]

Whatever happened to Trump inspecting the gold in Ft. Knox...with Elon, right? Wasn't that supposed to happen already?

[tdtwedt]

Gold back up to $3075

[Doctor Steuss]

Is silver now been relegated to an industrial metal? Or are the paper markets manipulated that much?

It seems to now be entirely disconnected from gold.

[68Camaro]

Good question. I don't know the answer, and don't know if anyone does except the manipulators. (Prsuming they are real, and I have come to believe there is real manipulation going on.) Thus the complaining, especially by the silver shorts crowd. Silver has always fallen harder and faster than gold, but usually recovers, eventually. Not so much, so far. Ag is back 2 bucks off the bottom but still nearly 3 bucks below where it was a week or two ago.

So, again, good question. 100 to 1 GSR is not the highest it's ever been, but it's historically out of line.

[Doctor Steuss]

Good question. I don't know the answer, and don't know if anyone does except the manipulators. (Prsuming they are real, and I have come to believe there is real manipulation going on.) Thus the complaining, especially by the silver shorts crowd. Silver has always fallen harder and faster than gold, but usually recovers, eventually. Not so much, so far. Ag is back 2 bucks off the bottom but still nearly 3 bucks below where it was a week or two ago.

So, again, good question. 100 to 1 GSR is not the highest it's ever been, but it's historically out of line.

Thank you 68. I was curious just how different the two metals have been performing (beyond my perception, and memory), and so did a little comparison between how much each has gone up over periods for fun. The one that surprised me the most is zooming in to just the last month. While Gold has seen an over 6% increase, Silver has actually decreased over 3%.

1 Month
Gold +6.65%
Silver <-3.49%>

3 Months
Gold - +17.63%
Silver - +7.21%

1 Year
Gold +37.95%
Silver +24.01%

5 Year
Gold +104.43%
Silver +74.22%

But then, just as a curveball, if we zoom in to just the last 3 days... silver is up 7.5%, compared to gold at only 2.37%. I'm not sure how to process that.

[68Camaro]

Your zoom in number goes with what I said about silver - it is more volatile. It goes down faster, and it goes back up faster.

[68Camaro]

Spot pushes back to a new record; over $3180 and appearing to be climbing still further. Futures are over $3200 and spot may break that level overnight during pacific trading.

GSR running a ridiculous 100+. Something needs to break in silver. Silver should be over 50 at the historic recent level of 60. At the centuries old level of 15, silver would be $200 per toz.

[thecrazyone]

Holy crap

[thecrazyone]

There it goes...

[Cu Penny Hoarder]

Auric knows!

[Lemon Thrower]

$3234 earlier this morning

[68Camaro]

Well, not per Kitco Spot buy, but it's close - $3220s and rising. It may have been a posted sell price per some market.

Edit 10 minutes later... OK, $3237.50 and moving...

Silver is rebounding a bit more, finally, but it is still lagging the gold recovery, and still WAY behind where it *should* be.

[thecrazyone]

I heard some guy talking in a mall yesterday about buying ASEs. I was like, why? Lol

[Cu Penny Hoarder]

I heard some guy talking in a mall yesterday about buying ASEs. I was like, why? Lol

I didn't think "malls" were still around.

[68Camaro]

The why of buying silver will eventually come; patience required.

Malls? Yes there are some still around. At one time this area had at least nine malls. While most of them are sick or dying or are being converted or torn down, there are still at least two in our area that are mostly full of decent tenants, and fairly well attended, and might be able to maintain solvency into a new generation that might find them unusual enough (since their parents were by and large NOT mall creatures) to adopt as their own thing. We'll see.

[shinnosuke]

Look at that near perfect 100 GSR.

IMG_2949.jpeg (222.65 KiB) Viewed 120 times

[thecrazyone]

I heard some guy talking in a mall yesterday about buying ASEs. I was like, why? Lol

I didn't think "malls" were still around.

Yep, this one has been around in DE forever. Christiana Mall.

[68Camaro]

Gold blows by $3300, aided by the USD dropping below 100.

[thecrazyone]

This is scary stuff.

[68Camaro]

I like to see it going up, but it's going up too fast to not be a sign of an issue, especially with silver barely (or not even) keeping up. It has continued all day, now past 3340.

[Cu Penny Hoarder]

I like to see it going up, but it's going up too fast to not be a sign of an issue, especially with silver barely (or not even) keeping up. It has continued all day, now past 3340.

Pullbacks are healthy. That's what gold needs right now.

[pmbug]

...
Pullbacks are healthy. That's what gold needs right now.

China says no.