Goldtent TA Paradise

SIR PLUNGER WEIGHS IN ON THE GOLD MARKET

1. silverboom says:

   February 13, 2021 - 7:38 pm at 7:38 pm

   I think that is in line with Chartmaster’s thinking…

2. Paul says:

   February 13, 2021 - 10:30 pm at 10:30 pm

   Thanks Plunger,
   FAB analysis.
   I’m on tenterhooks myself, it could go either way:

   1. GDX is sniffing out the (increasing) chance of another end Q1 liquidity event, similar to last March (and the GFC).
   Steven van Metre explains ‘GDX Weakness Signaling Market Crash’ to Palisades here: https://www.youtube.com/watch?v=UP5pPyvmMH8 … very plausible and very important thesis, do take the time.

   2. I was shocked to see spot gold waterfall this past Wednesday & Thursday from 0830-1030 NY time. I know you watch the Kitco (3 day) Live Gold Price chart, which is a great visual indicator of this end quarter liquidity phenomenon. Whilst the action was stable on Friday – and spot gold even jumped at 1030 on the dot – I fear the morning waterfalls will continue next week. That doesn’t mean there will be a liquidity event this quarter end, but it does indicate strains in the repo market and hence fire sales of (leased) gold bullion to cover (very large) collateral calls.
   As Jeffrey Snider explained last March: “There was even a textbook gold slam today, one that was so on-the-nose I don’t think I’ve ever seen it quite so obvious before. An initial slam at 8:30am (which some may characterize as a reaction to the blowout payroll report, which is fine but I don’t agree) followed by the big one clustered in just before, and right up to, 10:30am. What’s special about especially 10:30am? Closing the books on yesterday’s overnight repo.”, here: https://alhambrapartners.com/2020/03/06/what-is-the-problem/ .. a must read, I assure you.

   Peace, success, out,:)P

3. Paul says:

   February 13, 2021 - 11:17 pm at 11:17 pm

   Silver Short Squeeze is increasingly organising.
   Primary sources to monitor:

   Wall Street Silver (r/Wallstreetsilver) @Reddit
   https://www.reddit.com/r/Wallstreetsilver/

   Wall Street Silver (r/Wallstreetsilver) @YouTube
   https://www.youtube.com/channel/UCihX2iReqwRs49UT82i-P3Q/videos

   There seems to be common agreement between bullion dealers that:
   – Premiums at ATH
   – Coin & bar stocks running out (less so in Eastern markets)
   – 1000 oz silver bars more difficult to source too
   – Phenomenon spreading to gold
   – PSLV is trustworthy, cos it’s a closed end fund (but DYODD)
   – SLV & GLD are POS (JPM is custodian and there is no redemption)
   – COMEX March delivery could be the crunch

   Why is this noy being discussed more at the Tent ??
   :)P

   • Plunger says:

     February 14, 2021 - 9:36 am at 9:36 am

     One comment here: I do believe that SLV actually is redeemable for larger amounts (I believe it is 50,000 Oz and above). This is opposed to GLD which is only redeemable if you are one of the big banks. I have heard that major players such as dealers and hedge funds are beginning to hit the SLV to source silver through redemption. It’s telling that over the past week Wall Street has marched out hacks on TV to discredit the silver squeeze. I think its starting to have an impact and the lid is in the process of coming off.