LIVE Gold Prices $  | E-Mail Subscriptions | Update GoldSeek | GoldSeek Radio 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

COT Gold, Silver and US Dollar Index Report - September 20, 2019
By: GoldSeek.com

Fedís Gold-Bull Impact
By: Adam Hamilton, Zeal Research

GoldSeek Radio Nugget: Michael Pento Ph.D.
By: Chris Waltzek Ph.D., GoldSeek Radio

Panicky Fed Flooding Overnight Markets with Cash
By: Mike Gleason

Semiconductor Sector; a Market & Economic Leader
By: Gary Tanashian, NFTRH

Gold Consolidates As The Fed Loses Control
By: Stewart Thomson, Graceland Updates

Precious Metals Update Video: Gold consolidating, watching recent lows
By: Ira Epstein

Serious Inroads, But Still Unfinished Business
By: Ted Butler

A Message to My Former Colleagues at Overstock
By: Patrick Byrne

Repo Rates And Gold: Something Big Is Happening
By: Dave Kranzler

 
Search

GoldSeek Web

 
April 19th ...they lit the first candle


 -- Published: Tuesday, 19 April 2016 | Print  | Disqus 

By: Bill Holter

 

Many of us have waited for today, April 19, as we anticipated the new Chinese daily gold fix and the opening of the ABX physical exchange.  Some may be disappointed, other ecstatic.  I will say I am personally pleased because it was almost exactly as I suspected.

 

  Much has happened over the last couple of weeks and a lot of it has to do with "truth" being exposed.  The "markets" are no different.  China in my opinion is simply trying to aid in markets determining prices of gold and silver. 

 

Last Friday we got horrifying (from a contrarian standpoint) COT numbers with nearly record numbers for commercial shorts.  With history as any guide, gold and silver should have already been slaughtered, they have not been.  In fact, we now have silver and gold at nearly one year highs and mining equities exploding.  Yesterday saw a dozen or more juniors up 25%++ for the day!


  As I have maintained, I believe today's action will become more frequent with the Shanghai physical demand pushing prices higher.  I believe they lit the first candle of truth today, other candles will follow until the light switch gets flipped on.  COMEX/LBMA will either go along in price or they will be arbitraged completely out of inventory.  As I wrote several weeks back, "what good is a contract that cannot perform"?  It is very possible China will let this "stew" for a while and allow the markets time to adjust to real and free pricing ...only then do I see China coming out with a gold backed yuan.  If they were to do that today, it would be a declaration of war on the U.S. hegemon, if they wait, they can have cover and say "hey, it was global free markets that pushed gold out of sight". 

 
  As mentioned above, commercials are very short gold and silver now, they have lost $billions just today.  Maybe they continue to throw paper at gold and silver, Shanghai ain't buyin' it!  No matter what the apologists say, COMEX can and will default when they can no longer deliver metal.  They say "cash settlement" is not a default ...who are they kidding?  This is the rally you never sell ...until you are offered a different "paper" (one that is backed by something, anything) that can be trusted.  China may be making this offer in the near future!
 
Standing watch,
 
Bill Holter
Holter-Sinclair collaboration
Comments welcome bholter@Hotmail.com


| Digg This Article
 -- Published: Tuesday, 19 April 2016 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus



 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2019



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on GoldSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer


Map

The views contained here may not represent the views of GoldSeek.com, Gold Seek LLC, its affiliates or advertisers. GoldSeek.com, Gold Seek LLC makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of GoldSeek.com, Gold Seek LLC, is strictly prohibited. In no event shall GoldSeek.com, Gold Seek LLC or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.