Loading ...Did Gold Break Out!? What is Going On!?
I usually only follow the spot price for gold on NetDania. What did it close at on Friday? 1681.4. No breakout. Lower high. No big deal.
Just now: I was alerted to the breakout Plunger talked about on the Rambus site. I was just shocked at what I saw. It’s clear. A breakout! Atleast to test old highs! What!?
There is a MAJOR disparity between spot and continuous contract. The largest I’ve ever seen.
GLD appears to be following Spot price obviously.
Can anyone explain this!?
Hi Sir Chuck
Patrick has been investigating…we have been discussing the wild swings in the Contango
None of us are able to explain it.
But all these weird gyrations mean the Gold market is Sick .
As in Out of control.
So you can take that as bullish or bearish BUT
Gold Futures HAVE broken out ! Big time…that’s undenieable
Newmont has broken out Big Time as well..It’s the largest Gold Miner on the Planet so that’s significant.
Gold in Canadian and Aussie Dollars and most currencies is going nuckin futz .
On the Fundamental side ..these are EXACTLY the Times Goldbugs envisioned for 20 or more years.
So IF not NOW then when ?
Sometimes a Duck is a Duck !
Quack, quack.
This is the type of thing that could catch so many on the wrong side and propel the next move big time.
Thanks for explanation Fully. Looks like I need to read the comments and posts more to see these discussions.
And Thanks Patrick….
Hey Chuck! Yeah.. its like golds “repo market” !