ECB cuts interest rates, More printing

[deacon]

Looks like like the European Central Bank cut interest rates to .75%, and the United Kingdom is printing 50B pounds. The New York exchange hasn't opened yet, but silver is down 2%. It will be interesting to see what happens when the market opens, and people start selling/shorting silver.

[henrysmedford]

Looks like like the European Central Bank cut interest rates to .75%, and the United Kingdom is printing 50B pounds. The New York exchange hasn't opened yet, but silver is down 2%. It will be interesting to see what happens when the market opens, and people start selling/shorting silver.

Big down.

[NHsorter]

Guess I am stupid, but I thought more money printing would mean higher PM's? Or is this because it's foreign printing = dollar strengthening = lower PM in dollar terms? Think I kinda figured it out as I was typing.

[AGgressive Metal]

Guess I am stupid, but I thought more money printing would mean higher PM's? Or is this because it's foreign printing = dollar strengthening = lower PM in dollar terms? Think I kinda figured it out as I was typing.

Yeah you got it. PMs will go up in Euros but not in dollars yet. The currency/bond markets are WAAAY bigger than stock markets and the stock markets are way bigger than the gold/silver market. Gold get pushed around by these bigger forces in the short run, but as we've seen over the last 10 years, it goes where it wants to in the longer term.

[AGgressive Metal]

USD rallying hard today, up 0.55 on the index as I type. This makes for a good Saturday to buy PMs at your local coin store, since they will probably price things based on Friday's close.

[PADFH]

Too little too late. What needs to be done can't be done politically. The Euro is doomed.