Should we be thanking the cartel?

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#1 Wed, Jul 24, 2019 - 10:26am
lairdwd
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Should we be thanking the cartel?

The specs want to push it up, but the cartel is like a patient parent. Not yet son. Give it time to develop.

Or one could argue that the cartel knows they are under the microscope and are too afraid to establish deeper positions and simply cannot keep up with the specs.

Or have the cartel thrown the doors open on silver, to draw gold specs away from gold. And will they later use it as a weapon to beat down gold, where physical prices are ramping up to spot.

Wed, Jul 24, 2019 - 1:25pm
zman
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Why does everyone have such a

Why does everyone have such a short term memory when it comes to this topic? The commercials NEVER lose in this game. They have the inside information and the "dumb money" doesn't. The paper market does NOT look good for gold here and the commercials will cover and make money at much lower prices, just like they have every time before. Nothing has changed.

Does this mean gold won't go to $1500-1550 oz? No, but it's looking less and less likely and markets test levels at much lower levels than most people think. The commercials will cover and start the process all over again. Nothing is different this time around.

The bankers are not trapped, it's the dumb money that is once again.

Thu, Jul 25, 2019 - 8:50pm
lairdwd
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Disagree. The specs have some

Disagree. The specs have some BIG hedge funds in the game capable of throwing up $5 candles mid day. They are not afraid of the cartel and have brass balls and have showed it.

Plus the govvy cracking down and manipulating bitcoin. Some of the old gold guys have bailed out on crypto and are back home.

Sat, Jul 27, 2019 - 1:00pm
zman
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Disagree?

Sun, Jul 28, 2019 - 10:44pm
HappyNow
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If the price goes up it will

If the price goes up it will be harder to accumulate the shiny. So, thank ‘em if your buying.
Swing trade indexed ETFs. Long physical gold, silver, and 1 miner.
Wed, Jul 31, 2019 - 8:49am zman
lairdwd
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zman wrote:

zman wrote:

https://kingworldnews.com/bullion-banks-commercials-ramp-up-short-positi...

Don't worry about the cartel's shorts on futures. By now, their trading desks have loaded up on long gold investments that far exceed their shorts.

For whatever reason, the cartel has not shown the will or capability to match the firepower of the specs. They know it's going up, and are themselves along for the ride - fleecing investors in both directions when opportunity presents.

Wed, Jul 31, 2019 - 10:45am
zman
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COT Report

https://www.cftc.gov/dea/futures/deacmxsf.htm

Commercials- Long- 175,785 Short- 463,624

Am I missing something here? It appears to be a massive net short position by the commercials.

Thu, Aug 1, 2019 - 2:56pm zman
lairdwd
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zman wrote:

zman wrote:

https://www.cftc.gov/dea/futures/deacmxsf.htm

Commercials- Long- 175,785 Short- 463,624

Am I missing something here? It appears to be a massive net short position by the commercials.

See my post above. The cartel (i.e. the bullion banks) all have trading desks that are more than capable of offsetting any loses they have on comex futures.

Yesterday's action was very telling. The cartel went massive short on the GDX well BEFORE the so-called 'hawkish' Fed announcment obviously having the insider info, covered, are now along for the ride with the rest of the longs.

Thu, Aug 1, 2019 - 3:02pm
lairdwd
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Also, FYI my understanding is

Also, FYI my understanding is the cartel is the "buyer of last resort" on comex futures and the short position basically reflects their making a market for the long specs, rather than them taking out speculative naked shorts.