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Was there some news this morning that prompted the uptick in Au/Ag?

I was trying to figure this out myself. Russia in Syria? Short-seller's squeeze is propelling the momentum now that it started... but what started it?

There's some behind the scenes (mostly) developments going on with the pending (eventually) failure of Deutsche Bank as well as Glencore as well
that could be causing a rush to safe havens. Stock marker dropping as well, until it is propped up (again)... until the selling turns into a torrent that
can't be dammed.

Of course, I've been damning the stock market for the last few years.

jobs numbers

Low jobs numbers used to be positive for the market, now they're not. Absurd algos.

These sharp spikes in PM prices never seem to hold.

If it were based on Russia/Syria you'd think the spike would have happened yesterday or the day before, when there was actually a drop in prices. I stopped trying to make sense of these markets. I am expecting the GSR to go higher before all is said and done which would imply lower metal prices.

Yankees clinched a playoff spot.

Hurricane Joaquin and the amounts of rainfall that will be pushed onto the U.S. east coast.

Ravens beat the Steelers in OT!!
Seriously, these characters can only keep this game going for so long....
Computer programs running like crazy to keep the markets propped up, made up economic reports, etc....
When it crashes, those holding physical will be glad they held.

Market Harmony wrote:jobs numbers

Yep, low job report gives the fed another reason not to raise interest rates. This puts pressure on the dollar and PM's will increase in the short term. But the fed will raise rates sooner or later and the dollar will rise and PM's will fall.

Up....down.....up.....down.....up......down

Thank goodness football is here

cooyon wrote:Yankees clinched a playoff spot.

pres of a federal reserve bank calls for more stimulus
http://finance.yahoo.com/news/kocherlak ... 00751.html

A new set of jobs numbers are to be reported this Friday. Another big move in the gold and silver market after the report comes out could be a major foreshadowing of the effect that raising rates will have in the PM market. There are arguments on both sides of the debate of raising interest rates, and the effect on PM markets... one argument says that raising the FED rates means an end to easy money and inflation. The other says that raising interest rates in the US will have a compounding effect on the investments worldwide... a shifting of money from government debt (bonds) to private assets (stocks, etc). The former is a direct correlation to inflation, the latter is an anticipation of inflation.

The FED raised rates (2004-2007) while gold was forming the base of the big move in 2007. Gold went from ~$400 (2004) to ~$700 (2007) at the SAME TIME that the FED rate increased from ~1% to ~5%. This move was in anticipation of inflation, which then began AFTER 2007. At that point, Gold went from $700 to $1,900 in 4 years.

FED "stimulus" has been government debt-centric (bond buying programs) and not monetary base-centric (printing) for the latest rounds of QE. Therefore, the value of government debt is bloated, and when the bond exit sign illuminates the amount of capital trying to fit through the door will be overwhelming. Gold and Silver will again have a buyer... a big buyer!

Market Harmony wrote:A new set of jobs numbers are to be reported this Friday. Another big move in the gold and silver market after the report comes out could be a major foreshadowing of the effect that raising rates will have in the PM market.

I'm hoping/expecting TPTB to slam the PM prices down before/when that happens.

My dry powder is all ready!

Cu Penny Hoarder wrote:

Market Harmony wrote:A new set of jobs numbers are to be reported this Friday. Another big move in the gold and silver market after the report comes out could be a major foreshadowing of the effect that raising rates will have in the PM market.

I'm hoping/expecting TPTB to slam the PM prices down before/when that happens.

My dry powder is all ready!

I had some powder in store waiting for the previous smack down when silver hit the low $14's. But when I was ready to take advantage of it the premiums had shot up to the point where ASE's and Maples were now costing more than prior to the smack down Curious to see what happens this time (premium wise) should another smack down arrive--and it will.

Even though spot is up, I agree, cheaper silver than when it was down

pennypicker wrote:

Cu Penny Hoarder wrote:

Market Harmony wrote:A new set of jobs numbers are to be reported this Friday. Another big move in the gold and silver market after the report comes out could be a major foreshadowing of the effect that raising rates will have in the PM market.

I'm hoping/expecting TPTB to slam the PM prices down before/when that happens.

My dry powder is all ready!

I had some powder in store waiting for the previous smack down when silver hit the low $14's. But when I was ready to take advantage of it the premiums had shot up to the point where ASE's and Maples were now costing more than prior to the smack down Curious to see what happens this time (premium wise) should another smack down arrive--and it will.

I monitor PM prices all day long, even at work. Got to be quick on the trigger if/when the big slam downs happen (before the premiums are raised). I've done this many times. I have never bought when the "shortage meme" is in full effect and premiums are high.

Don't just get that powder ready. Employ it. Put it to work. Buy something shiny today. The jobs report just made things much cheaper... but for how long?

Market Harmony wrote:Don't just get that powder ready. Employ it. Put it to work. Buy something shiny today. The jobs report just made things much cheaper... but for how long?

Just picked up 100 rounds of Provident Prospectors @ $15.69 Should have been two cents cheaper but the price fluctuated by the time I was able to finalize the purchase. Still....

Market Harmony wrote:Don't just get that powder ready. Employ it. Put it to work. Buy something shiny today. The jobs report just made things much cheaper... but for how long?

Yesterday on ebay Apmex had a 2-hour sale on rolls of ASE's for $353.80 delivered. And last week Target had a two day sale on $100 ebay e-gift cards for $95 each and I purchased six. So yesterday I purchased two of Apmex's rolls and applied all six gift cards which translated to a net cost of $338.80 per roll ($16.94 per ASE).

pennypicker wrote:

Market Harmony wrote:Don't just get that powder ready. Employ it. Put it to work. Buy something shiny today. The jobs report just made things much cheaper... but for how long?

Yesterday on ebay Apmex had a 2-hour sale on rolls of ASE's for $353.80 delivered. And last week Target had a two day sale on $100 ebay e-gift cards for $95 each and I purchased six. So yesterday I purchased two of Apmex's rolls and applied all six gift cards which translated to a net cost of $338.80 per roll ($16.94 per ASE).

Well done sir

pennypicker wrote:

Market Harmony wrote:Don't just get that powder ready. Employ it. Put it to work. Buy something shiny today. The jobs report just made things much cheaper... but for how long?

Yesterday on ebay Apmex had a 2-hour sale on rolls of ASE's for $353.80 delivered. And last week Target had a two day sale on $100 ebay e-gift cards for $95 each and I purchased six. So yesterday I purchased two of Apmex's rolls and applied all six gift cards which translated to a net cost of $338.80 per roll ($16.94 per ASE).

Well played and paid

Be sure to read the preceding message stream.

And now the jobs report reverses from November 2015... it may be time to reverse some strategies for now. Bonds are looking better for the mean time.

It's not just "this or that". It's a generally broadening sense (even if it is only broadening to a few more) that things aren't well, despite what MSM says. The jobs report was horrific, which says that it was so bad that they couldn't doctor it up like they usually do. The "unemployment rate" went down, to 4.7%! But the number of people removed from the workforce in order to do that was staggering - half a million!

The flood always starts with a trickle. But the dam is getting weakened, the foundations loosened. One minute all will still appear to be fine. The next - it cracks, deforms, pieces fall, and shoring up the dam is no longer possible. It's lost, and nothing can be done but telegraph to the folks in the valley to run, run for their lives. For many it will be too late.

68Camaro wrote:It's not just "this or that". It's a generally broadening sense (even if it is only broadening to a few more) that things aren't well, despite what MSM says. The jobs report was horrific, which says that it was so bad that they couldn't doctor it up like they usually do. The "unemployment rate" went down, to 4.7%! But the number of people removed from the workforce in order to do that was staggering - half a million!

The flood always starts with a trickle. But the dam is getting weakened, the foundations loosened. One minute all will still appear to be fine. The next - it cracks, deforms, pieces fall, and shoring up the dam is no longer possible. It's lost, and nothing can be done but telegraph to the folks in the valley to run, run for their lives. For many it will be too late.

Dam fine analogy, if I say so myself

Market Harmony wrote: Bonds are looking better for the mean time.

Well, this will hopefully make my 401K happy. I was starting to toy with the idea of dumping the bonds I have, and putting the funds in something else.