Dollar up, oil down, Pms..up?

[Eyebone]

Is this a strange phenomenon?

Dollar climbed to over 75, oil is down to 95 and change and PMs are moving higher.

It's supposed to be when the Dollar is up, PMs go down..no?

I was ready so I went ahead and got some 90% today thinking the price was dropping, but it didn't drop much.

[wrs]

Correlation doesn't imply causation. The dollar doesn't determine the price of gold, the dollar is priced in gold these days.

[gunDriller]

Is this a strange phenomenon?

Dollar climbed to over 75, oil is down to 95 and change and PMs are moving higher.

It's supposed to be when the Dollar is up, PMs go down..no?

I was ready so I went ahead and got some 90% today thinking the price was dropping, but it didn't drop much.

outside day reversal.

when the market starts down, and ends up up.

VERY impressive. so many forces pulling the market down today. i was expecting a break into the 34's which happened very briefly but the silver market & PM's kept fighting back.

[Eyebone]

Correlation doesn't imply causation. The dollar doesn't determine the price of gold, the dollar is priced in gold these days.

Please don't take this in a negative way but..when did that happen?

[ximmy]

Please don't take this in a negative way but..when did that happen?

I thought the dollar and oil were priced in correlation...

[Eyebone]

outside day reversal.

when the market starts down, and ends up up.

VERY impressive. so many forces pulling the market down today. i was expecting a break into the 34's which happened very briefly but the silver market & PM's kept fighting back.

Yahknow for the Morgans I got I paid a small premium, I don't have the receipt handy..maybe 1.25 but I only payed 32 and change for the Mercury's.

I think everybody was confused today.



I capitalize when I please.

[Eyebone]

I thought the dollar and oil were priced in correlation...

I thought the dollar and PMs were opposite ends of the spectrum.

Oh wait, I'm sorry, yeah oil is cheap, dollar is strong, therefor PMs are down.

Did you ever have the feeling that while we are typing this the world is crashing down outside?

I have to keep looking out the window to see if it's still there.

[SWRichmond]

I suspect it is panicked European buying in anticipation of a Greek meltdown melting everything else down.

[Ares]

The dollar, gold and silver SOMETIMES move in correlation with each other. Dollar up, gold down and vise versa. The "problem" now is you have people who see the writing on the wall and are wanting TANGIBLE objects. Like Gold, Silver, Oil, etc. The dollar is ONLY moving up because people are shaky with the Euro because of the whole Greek debt crisis. The dollar is in far worse shape in all practical matters, but that's neither here nor there.

What you are witnessing is a flight to safety as investors flee the Euro zone. It screws with the moves in all the asset classes listed because of the amount of "money" going into that particular investors favorite asset. Even then they are only purchasing ETF's. Only a small portion of that "money" is making it into the physical market. It's paper chasing paper.

[Eyebone]

I suspect it is panicked European buying in anticipation of a Greek meltdown melting everything else down.

When you say Greece it's also Ireland isn't it?

Is the EU melting down now?

[Ares]

Is the EU melting down now?

Have to go bigger, the whole global market is melting down. This is just a continuation of 2008 when the market went tits up. The major nations of the world never bothered to solve the problems they created. They shoveled oil tanker sized loads of money at the problem and hoped they would go away. Well those problems didn't go away instead they grew, and now 3 years later the same problems are arising. No one has any money outside of China.

You cannot buy your way in to prosperity by racking up a bunch of debt giving it to a bunch of non-productive parasites (governments, bankers, etc.) and expect to end up "wealthy" and prosperous.

[Eyebone]

Mr. Ares, I could not agree with you any more without seeming sycophantic.

I enjoy being a witness to history, simply put, I would like to understand it as well.

[Ares]

Mr. Ares, I could not agree with you any more without seeming sycophantic.

I enjoy being a witness to history, simply put, I would like to understand it as well.

It's extremely complex, even after all these years of reading I still don't think I have got quite the hold on it that I would like. Central banks screw up the entire process of the market. All this debt would of been liquidated if it wasn't for them. The IMF and ECB is basically attempting to screw Greece and they are wanting any of it. They want more socialism / communism (take your pick) but not actually having to pay for it. The IMF / ECB will give them what they want, but they have to sell portions of their nation to them.

I guess the best way to compartmentalize all of this is knowing that nations are just like households, but on a much larger scale and each household has it's own printing press as no one uses gold anymore. So you have a bunch of households shuffling a bag of shit back and forth hoping that when the music stops that your house isn't the last one holding the bag of shit.

[osoab]

I would have to say that the bucky movement today was all about the Euro being trashed on Greek news.

The movement of Au, Ag, Pd, Pt, oil, corn, oats, beans, has been jumpy for the last week or so wild fluctuations between days. I am putting more of this on the trading algos.

http://www.finviz.com/futures.ashx

Bond yields also increased today. http://money.cnn.com/data/bonds/

Still not seeing the volume in the July SI contract that we had the last part of April until the crash in early May.
http://www.cmegroup.com/trading/metals/precious/silver_quotes_settlements_futures.html

[Eyebone]

It's extremely complex, even after all these years of reading I still don't think I have got quite the hold on it that I would like. Central banks screw up the entire process of the market. All this debt would of been liquidated if it wasn't for them. The IMF and ECB is basically attempting to screw Greece and they are wanting any of it. They want more socialism / communism (take your pick) but not actually having to pay for it. The IMF / ECB will give them what they want, but they have to sell portions of their nation to them.

I guess the best way to compartmentalize all of this is knowing that nations are just like households, but on a much larger scale and each household has it's own printing press as no one uses gold anymore. So you have a bunch of households scuffling a bag of shit back and forth hoping that when the music stops that your house isn't the last one holding the bag of shit.

Ha Ha, I don't know if you will believe me but I do understand.

You are holding great quantities of Gold and Silver.

[wrs]

Please don't take this in a negative way but..when did that happen?

The dollar has been priced in gold since it was established.

The dollar is priced against an ounce of gold so are all the currencies. It isn't the other way around. Today was a perfect example of how both the Euro and $ fell against gold but the $ went up against the Euro. So I think it's clear that the $ and Euro are priced in gold.