Loading ...Wanna play a game?
I am pretty sure we have options expiration this week on the COMEX which means prices are almost always smashed by the banks. However with stories breaking like: Samsung shutters doors in South Korea, Most Chinese businesses to run out of cash in 3 months and Summer Olympics being cancelled or moved and QE to infinity to start soon. It is hard to imagine prices being smashed at all. But I am constantly amazed by this market. Taking all bets again this week.
How much higher or lower will gold be at the close 2/28? I am going against the banks this month and will say a close north of $1,685.
I’m always surprised how the price action gets stretched before reaching my targets… so… tough call… For silver… I would love 15% gains spread over 3 weeks. So gold… maybe 5% gains spread over 3 weeks?
Turbulent times ahead.
Thank you, but I don’t want to play. The Comex option expiration +/- a day is highly reliable for a down. Almost any other month I would bet on a down. Nevertheless, as with some other things sometimes the opposite effect happens (more formally, an asymmetric bimodal distribution of outcomes such that one of the two outcomes is more likely overall).
In view of the extreme instability of many systems in the world at the moment I think this is one of those times when the opposite of the usual outcome is relatively likely–in other words, there might be a move, even a big one, up. However the overall usual Comex option effect (down) is so strong that I can’t be sure. So no bets, even pretend bets, from me, thank you very much.
Same for the observation that precious metals often tend to do badly for a spell beginning around March 1, coinciding (as I always remember it) approximately with the PDAC conference. This time, all bets from me are off. I will just watch like a hawk.
Hi Karl, trust me I feel your pain. I’ve been watching the PMs since around 2002. It certainly can take the wind out of your sails.