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Yamana Gold, Inc. Message Board

  • pawski1881 pawski1881 Nov 18, 2010 1:13 PM Flag

    Why Gold Dropped Earlier in the week

    I believe this is the reason Gold/Silver dropped earlier this week.

    From: Warren Bevan

    First off. Why was Silver and Gold smashed yesterday(Monday)?
    You’ll hear many reasons, all wrong.

    The only reason they dropped was because the margins were raised on Gold and Silver again by the CME.
    Gold margin was raised to $4,500 from $4,251 per contract. Silver was upped last week from $5,000 to $6,500 and again yesterday to $7,250 per contract.
    The CME did the same thing with Silver last week which had the same effect of seeing both Gold and Silver fall hard immediately.

    Monday saw a marked sell-off in Gold and Silver around mid-day. Itseems insiders got the early warning about the coming margin raises and tookadvantage of the inside information. These occurrences occur far too often, but they are just noise in the short term and don’t much matter if you are holdingphysical metal for the long-term.

    Usually they do this as markets get out of control in only upward trajectories, but the huge short entities are desperate and need help. So the CME helped them by using the old trick of raising margins.

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    • scratch, I had an uncle teach me grafting when I was a kid. I had three varieties of apples growing on one tree. Have not tried my hand at it in years... Enjoy the soup!

      Any thoughts on the fed's intervention in the market?

    • Me too...matter of fact i am brewing up some home grown leek soup right now ...had a great crop of leeks this year ...i am a grafter also ...gardening is my passion ,along with fishing and in years past deer hunting in the calif. coastal range..

    • grey, I've been a serious gardner for many years. Subscribed to New Shelter and Organic Gardening way back in the 70's. It is simply amazing what we can grow in the comfort of our own yards and homes. I wish you the best in your gardening project.

      In Asia, gold is up about $5 so the week is starting positive for gold...

    • >> For a shortcut to Johnny's Selected Seeds:

      Thanks, I've bookmarked that for later reference. Although I've planted a few things on the property I recently bought, I'm putting off a serious garden thing until after a bit of travel. I'm hoping to head west on an extended trip come the middle of January, but medical issues and other commitments keep delaying the hoped for start. The big issue, my commercial property, is due to close November 30. If I don't find some place I like better during our travels, I'll start a serious garden project next fall on the place we've got.

    • grey,

      JM Greer is quite a thoughtful person. For a shortcut to Johnny's Selected Seeds:



    • <<don’t much matter if you are holding physical metal for the long-term>>

      Physical always works good. -- Purchase physical on any pullbacks.

    • pawski, good explanation and clear as a bell!

      For traders here on the board, we have gold and silver futures options expiry coming up on Nov 23rd. That is another time where manipulation of the market becomes apparent with common spikes down that end with settlement on the following day.

      IMO, Trying to hold the price of gold down is like trying to keep the tide from coming in.

      JPM and HSBC remind me of the little Dutch Boy with his finger in the dike... He can hold the water back but he can't walk away without getting very wet!

      • 1 Reply to goldmanpillageandsack
      • Goldmanpillageandsack said:

        “… IMO, Trying to hold the price of gold down is like trying to keep the tide from coming in. …”

        What must be remembered about PM markets is that they are quite small in comparison to many other market segments. That means they can be manipulated to produce the kinds of results that governments and central banksters and their partners in crime want.

        For example, here’s a quote from an account of the Hunt brothers’ attempt to corner the silver market, and the COMEX’s strategy to stop them:

        “…The price of silver continued to climb. On January 17, 1980, it hit $50 an ounce. At that time, the Hunts held $4.5 billion in silver—a $3.5 billion gain on their $1 billion investment. The various limitations and rules changes imposed by the commodities markets had no effect but to push the price of silver higher, until finally the COMEX announced that it was suspending the trading of silver and henceforth would ONLY ACCEPT LIQUIDATION ORDERS.…”

        Here’s the link, which is one of many accounts of that event:

        The point is that we small fry investors had better not underestimate the ability of fraudsters and banksters to stack the deck in their favor. At the same time it would be greatly encouraging if we should to see a return to markets that operate with more honesty and openness that will lead to widespread prosperity, rather than what is currently taking place with more and more wealth gravitating to the pockets of those who manipulate, or are in cahoots with those who manipulate, the exchange markets. Fabian socialism must not win this fight because if they do it will mean widespread human suffering and death on a level far greater than that of Nazi genocide.

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