Australia's largest stock trading and investment forum Australia's #1 stock forum

SILVER

0.30%

$15.25 silver futures

The biggest short squeeze in the world?, page-3039

First 3039 Last

Share
Profile

Follow
Skol

33,072 Posts.

1395

14/09/21

20:29

Post #: 56063414
Share

Originally posted by goldbear77: ↑

channels arent something i focus on much for paper gold - nor the horizontal resistances

Paper gold is run by Wall St - they have almost complete control simply because of futures market structure ie very low ratio real end users vs financial users and financial users generally prefer to cash out than take delivery. With that plus the absurd leverage of a futures contract - $30 buys/sells $150,000 of implied silver - the IBs can draw gold charts however they like unless someone with massive warchest were to oppose them

So the only thing that's really a pointer on gold price and timing is technical pressure and big price structures. Wall St wants to dissuade general populace from gold which they see as anti USD bet

But price structure like the arc and the big patterns are how they communicate to each other

Currently Gold monthly is oversold in a state has only occurred 9 times in 20 years. Thats when Wall St typically lets it go higher - they are positioned and almost no one else is

they then make the moves lightning fast and push it ott at the end to get late coming retail buying the top - punishing them for the implied bet against USD

so i ignore channels. I ignore most intermediate resistances and small time frame technicians

I look at big picture, macroeconomic fundamentals and game theory

i've opined prior I view Wall St as alternating PMs and crypto - and I see current crypto weakness as indicative of Wall St big money moving down into PMs

Doesnt mean cryptos wont break higher - but Wall St uses algos to float things higher on trend

but the big money is in deeper moves of non fotm to fotm

imo they are looking to continue gold's role as a hard money mirror vs US fiat but at a one step to the right, one step down discounted basis unless and until the macro drivers are overwhelming

there is ofc a point where real world gold price/demand can impact their futures control

the fact comex vault implied paper to physical has dropped from 100:1 to 3:1 coverage in 5 years is telling about where we are in the cycle

but until the day comes - have to play in the virtual sandbox they created

Expand

the fact comex vault implied paper to physical has dropped from 100:1 to 3:1 coverage in 5 years is telling about where we are in the cycle
======

"comex vault"...?

The comex doesn't own any gold or silver.
Upvote

0 Great analysis

Reply

Top Stories

Talking Australia's very competitive property landscape: Realty Talks

FMG

Andrew Forrest was seemingly possessed by the spirit of hydrogen – now he's cut 700 jobs and canned FFI

EVN

Evolution shares up 3% on quarterly results for June showing rise in gold production

NRX

Noronex joins forces with South32 to look for copper in Namibia

AI stocks: What to expect in 2024-25