The day's price movements

benjamen

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European thinking about letting lose the printers or today being option expiration for gold; which will be the dominate force in PM pricing today? Thus far the bulls are off and running.

:popcorn:
 

DSAbug

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Something to note..

GDX is basically trading inline with Gold today. Expect? Normal? sure..

Except when you look at what the components are doing. ABX is down 6.6% today. Why is that a bid deal?

ABX makes up 18% of the GDX and the ETF is still somehow up on the day. That is masking HUGE strength.
 

benjamen

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Something to note..

GDX is basically trading inline with Gold today. Expect? Normal? sure..

Except when you look at what the components are doing. ABX is down 6.6% today. Why is that a bid deal?

ABX makes up 18% of the GDX and the ETF is still somehow up on the day. That is masking HUGE strength.
What makes up the other 82%?
 

pmbug

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I thought today closed on a positive note. Will be interesting to see how trading fares on Monday.
 

Jetstream

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I get a bit tired of ZH's constant headlining of a surge in prices over a matter of minutes. Already the price is heading back down.

Intraday price movements are not "news". Noticeable price changes over a period of at least a week may be news.

ZH should know better. And for them to link every price change to some incident, however likely, is not much different than the silly headlines you constantly see at Kitco.
 

bushi

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...I hate them, on the other hand - I still have my big purchases coming due soon :mad:. Nothing sounds to me as good as calming "all in order" type of news right now!!
 

DSAbug

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We need a 2-3 week correction... in time for my next purchase!

:D
Don't expect it to be too deep. I wouldn't trade positions either. This is really looking like the start of previous major moves.
 

benjamen

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...I hate them, on the other hand - I still have my big purchases coming due soon :mad:. Nothing sounds to me as good as calming "all in order" type of news right now!!
That sounds great to me! I have fiat in hand, but I hate to buy at what looks like a temporary top.
:shrug:
 

DSAbug

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Pull up a chart of 2005.. Lots of similarities IMO.. My guess is we should get 12-15% pullback on the miners.. 5-10% on the metal.. Once we get oversold, I'll say something.. It should be quick and make weak hands nervous.
 

benjamen

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oppie2005

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so...what you guys are sayin is...its probably not the best or even that great of time to trade in fiat for ASE's?
 

DSAbug

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so...what you guys are sayin is...its probably not the best or even that great of time to trade in fiat for ASE's?
I wouldn't do it for trading. If you are long term, you shouldn't really care. If you are trying to make a large purchase, it's best to wait for big down days.
 

ancona

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Today's price action is similat to the last few days as the shorts continue to defend their line in the sand. At some point, I would think physical stackers will have to win the day, since there continues to be regular silver consumption yet mine ore quality continues to fall. The ratio has to have an effect at some point......doesn't it?
 

benjamen

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Well today has been interesting so far! The dollar hasn't moved that much, but all commodities seem to be dropping today? With nothing important in the news, what is going on today?

:popcorn:
 
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