The dollar gained 1.4g gold this week, which means gold price in dollars went down $88. This is another big move that will give a false sense of confidence to the Keynesians and Monetarists (one of the business news sites was crowing this week that “Keynes has won”). They are wrong. The strengthening […]
The dollar gained this week about 0.3g, which means gold “went down” $22. The gold bugs may be feeling cheated again. We are more interest in the basis than the price. First, here is the graph showing the prices of the metals in dollar terms. There was a little motion upwards, but mostly sideways and […]
Sometimes not a lot happens. The dollar fell this week about 0.1g, which means gold “went up” $8. The gold bugs may be feeling somewhat better, but what is the basis saying? First, here is the graph showing the prices of the metals in dollar terms. As with last week, there was some up and down […]
There were no more Dark Cabal “smashdowns” this week. Gold rose $56, which is to say the dollar fell about 0.9mg this week. The gold bugs may be feeling somewhat vindicated, but what is the basis saying? First, here is the graph showing the prices of the metals in dollar terms. There was some up […]
Regular readers will know that most traders with a short position in the futures market are not “naked”. It is an easy trap to fall into, to assume that everyone else in the market is the same as the small trader: betting on the likely direction of price. But, this is not the case. The […]
This is a continuation of What is Pushing Down the Gold Price: Part I. One factor is the lack of rapidly rising consumer prices. If consumer prices aren’t rising, then this eliminates the need to buy gold as a hedge. Gold speculators are like everyone else. They get frustrated waiting for a rapid price gain […]
The Last Contango Basis Report: Special Update Since we wrote the Basis Report on Sunday afternoon, the markets have imposed further violence on the prices of both gold and silver. The gold price is $150 lower, and the silver price is $23, $3 lower. We were so curious about what would happen to the basis […]
The Last Contango Basis Report The number one question on everyone’s mind is: what the heck happened this week? The gold price fell 5% on Friday and the silver price fell 6%. We of course look at this as the dollar getting stronger. We have long been predicting volatility as the paper monetary system goes […]
