There are different manifestations I've noticed. I think these forums have had AI bots for some time now, different programs leaning different things from different tactics. There are certainly good old fashioned agitators but there is another fish in this ocean.
Taking Griffin's word for it because I love the quote and suspect it's as true as he says. Investing less than 5 minutes into some web queries I come back empty handed to prove the case.
I am considering, perhaps the silver market is beginning to accept a higher gold trading range, and so as others have mentioned, we have bargain hunters just loading into silver (even though silver is up over 20%!). It all seems to mean the market in general is supporting higher gold prices medium term and finally trading around that acceptance. Miners like AUY are far from bankruptcy.
In Q1, AUY sold 1.9M ounces of silver at avg $14.94 profitably. So that's an almost extra $7.6M cash in the bank at these prices. Not necesarily stock moving, but noteworthy none the less. At $25 silver that's almost an extra $20M cash and that needs to be paid attention to.
One of the guys on Bloomberg yesterday was asking the guest about gold pricing and currency, etc. At one point he's like look I have no idea why people buy gold, when they buy gold, and what they buy it for. I'm just like wow.
Someone doesn't like this thread. Maybe they need to go look at GS February SELL on this stock when it was trading $2.75. That was right after they finally admitted they had to abandon their dollar strength trade that netted them a -5% loss.
Even if we break out above this afternoon, I'd really like to see more volume. With the US holiday on Monday I'd be nervous to be long or short here (but I'll be staying long).
Heard it discussed on Bloomberg this week and also was a nice article in last week's Economist.
Remember when Bush did it? That tax cut that basically Uncle Same paid everyone off a couple hundred bucks to keep quiet about our economy being offshored? It doesn't work. It's a shot in the arm when your leg is bleeding out.
We are either watching a broader sentiment shift closer to gold, a cover rally into the long weekend, or *both*
Whatever happened to June COMEX physical delivery?
If our observations have been correct, there are some large buy orders coming out of Chicago all afternoon to replenish the vaults. One can only wonder if there is buying-- or selling --over in Shanghai.
I'd like to see the republicans join the democrats here and make this not just another head fake lip service. Personally, I don't buy the argument that if we tax a billion micro trades that are cancelled a picasecond later that suddenly there's no liquidity in the markets. How many stocks do we see trying to make a move based in real interest suddenly get scalped with rapid fire trades at fractions of pennies. In my opinion the institutions have no legs to stand on here and it's a long overdue enhancement to our markets.
I think the risk that some of those billions of micro trades execute leading to a fee is just what the doctor ordered to stop the practice. If they offer it in conjunction with capital gains back to 15% it could pass