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Thread: The usual suspects have seriously beaten down PMs...

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    Militant Wing of the Salvation Army midnight rambler's Avatar
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    The usual suspects have seriously beaten down PMs...

    WTF are they up to?
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    Re: The usual suspects have seriously beaten down PMs...

    1 Euro = 1.04 US Dollar

    Been 20 years since the Euro was this close to par with or lower than the US dollar.

    As for silver, perhaps the market is expecting Jerome Powell to raise rates another 0.25 or 0.5% after the consumer price index rose another 1% or so. lol
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    Re: The usual suspects have seriously beaten down PMs...

    There was a hard beatdown of PMs at 9:10 this morning, moving in tandem simultaneously to such an extent is very interesting. My best guess is that this manipulation was in advance of an anticipated breakout tied to geopolitics/world trade/economics -

    https://www.jmbullion.com/charts/gold-price/
    "A man is to be held accountable for the thoughts he chooses to entertain." --Richard Alan Miller

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    Militant Wing of the Salvation Army midnight rambler's Avatar
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    Re: The usual suspects have seriously beaten down PMs...

    Wow. I cannot believe what the usual suspects have been able to do to PMs. Incredible beat down. I can't help but think they're preparing for PMs to break out, ultimately. You can see they often beat down both Au and Ag at the very same time.
    "A man is to be held accountable for the thoughts he chooses to entertain." --Richard Alan Miller

    "If both the past and the external world exist only in the mind, and if the mind itself is controllable-what then?" --George Orwell

    "It's not a matter of what is true (reality) that counts but a matter of what is perceived to be true (reality)." --Henry Kissinger

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    Unobtanium osoab's Avatar
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    Re: The usual suspects have seriously beaten down PMs...

    Quote Originally Posted by midnight rambler View Post
    Wow. I cannot believe what the usual suspects have been able to do to PMs. Incredible beat down. I can't help but think they're preparing for PMs to break out, ultimately. You can see they often beat down both Au and Ag at the very same time.
    It's been a fire sale among many of the commodities. Look at corn and beans. Metals are always sold off first for margin calls.
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