Arindam, I agree that the rate at which central banks around the world have been buying up gold can’t be ignored. It does appear that gold will go higher. Unusual time we are currently living in.
Andy,
People don’t understand gold, because they are taught not to understand it by the governments who want to spend beyond their means. Dig deeper. Rickards makes a case for gold, as does Ron Paul, Doug Casey, Paul Roberts, etc.
Yeah, the spot price of gold is like ripples on the surface of the ocean on a calm day. Pretty meaningless. But stand on the shore for a couple of hours and watch what’s really going on. The tide that once floated the $US and made it the world’s reserve currency is ebbing. It won’t be replaced by the Yuan or the Euro. More likely by SDR’s. But its role as a payment currencies is diminishing in real time, and its role as an accounting measure is increasing.
If gold isn’t a trade that appeals to you, then don’t do it.
Right, I am more on the side of Benjamin Graham and Warren Buffett on the idea of gold. But everyone has their own ideas on the worth of anything. That is why there is a market.
Andy
Gold Spot Prices | Silver Prices | Platinum & Palladium| KITCO Always ask " What is the spot price for xxxxx" pick a metal. But always check with Kitco first and
https://goldprice.org/
The following is where I BUY and or SELL my coins and bars.
https://schiffgold.com/ Lots of reading to do on how to BUY and SELL the metals.
Buy Gold & Silver | SchiffGold Buy from a reputable dealer.
SchiffGold Price Charts | SchiffGold
Canadian Gold Maple Leaf
American Gold Eagle,
Silver American Eagle
Buy Gold Bars | SchiffGold
There is one female commentator on Fox Business News that does not own any stocks, but, only owns Gold and Silver.
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Quill,
If by ‘female reporter’ you mean Michelle Makori of Kitco News, I wholehearted agree. She’s doesn’t soft-ball her questions, and she’s is strong on the precious metals markets. Another gal for whom I have a lot of respect is Danielle DiMartino Boothe. She’s particularly strong on how the Fed works (and doesn’t) for having been a part of the Texas Fed. A third reporter, more of a generalist but always worth attention, would be Maria Bartiromo.
Andy dismissed gold, saying that Graham didn’t like it, as didn’t his student, WEB. Almost nothing WEB says should be taken at face value, and I didn’t remember what Graham said about gold. But here’s a quote. "But in the 1973 edition of his book “The Intelligent Investor,” after which my column is named, the great financial analyst Benjamin Graham looked back at nearly four decades of prices and wrote: “The near-complete failure of gold to protect against a loss in the purchasing power of the dollar must cast grave doubt on the ability of the ordinary investor to protect himself against inflation by putting his money in ‘things.’”
Graham is wrong, of course, as anyone can easily prove who knows anything about history and money. So one has to look deeper into why he would say such a thing. My guess is that gold and a theory of money were outside his admitted expertise, which was financial statement analysis. So obviously he would disparage gold, same-same as a builder of wooden boats might disparage those made of fiberglass. But I’m working my way through Jim Rickard’s books (audio versions), and the more I hear his coverage past and recent financial, economic, and political history and have a chance to evaluate his evidence, the more I’m convinced he’s right that gold has always played an important role and is again coming to the fore. And if that weren’t so, then why are central banks buying or hoarding so much of it?
But here’s the tricky part that most don’t understand, Sometimes, gold trades like other commodities. Sometimes, it trades like what it really is, the only true money the world has ever used, as opposed to lots and lots of currencies that have come and gone.
Arindam
re: Danielle DiMartino Booth
https://www.linkedin.com/in/dimartinobooth
https://www.linkedin.com/company/quill-intelligence-llc?trk=public_profile_topcard-current-company
Hey she has the same name as me Quill Intelligence, LLC. Son of a gun.
Quill -
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Gentlemen,
re: Simon Sez III minute chart
what are your consistent minute charts are you guys are using.
the chart below using 20 ema and 1 minute chart.
Quill -
Hi Quill,
I have only used it to make those two trades yesterday, did not run a back test on it, but have been watching it to see what it is doing. In other words it is an untried lucky attempt that worked two times with really no skill. But here it is. Built upon Simon Sez 3, Trade first green and red. 1 day 5 min.
Andy
Flew right out of the gate @ 09:55am est
but ya had a sell signal @ 11:00am est. Take your profits off of the table and then have a cup of caw fee and wait if you like for the next signal.
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LOL you are da man Quill.
Andy
In on SQQQ at $33.91 out at $34.01. I was looking to make 2 percent but looking at the daily charts it looked to me that it would have a hard time getting there. It looked good on a 2 month chart. I decided to get a little gain out of it instead of holding on the longer chart. I guess I just don’t trust this market and while I probably would be ok here I really want to wait and pick it up around $32 dollars. So out but a C on the trade.
Andy
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Boil is getting traded fast and furious. Look at it’s range today. The big boys are pushing it around. I see big blocks being traded on it both on the ask and the bid side.
Andy
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Andy,
What trading platform are you using? Also, you might try switching to tick charts.
streetsmartedge Arindam. I am looking at their block trades. I saw about 500000 shares trade hands in 10 minutes. On yahoo volume is really moving. I think boil could be a day traders dream right now.
Andy
Hi Andy,
Are you able to see how the buy or sell orders are influencing the immediate prices…and more so, it would be very interesting to see if u can actually look at, say, the volume of large blocks of buy or sell orders that are still waiting to be executed, and how that affects the price in say 1 hours time.
Like you say, very intersting indeed!
Andy,
The first chart is BOIL with 1 minute bars. Notice that the bar at 12:20 is green.
This is BOIL again, but done with a 133 tick chart. (100 or 150 would work as well.) But now notice what’s happening. At 12:19, the bar turns red, giving a ‘heads up’ that the trend might be changing, which is exactly what happens.
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Hi Arindam, which platform is this…I dont see a 1 minute bar or the tick charts on the barchart.
I am assuming this is a different one?
Hi Inspired,
The only thing I can see is how large the order is, whether it was bought on the Bid (red) or the Ask (Green) or neutral (black). They roll across the screen as they are buying or selling. But along with Arindam’s charts you can see what is happening also by the price.
Andy
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