Silver is down a staggering 8% now and gold is down more than 3.5%. The underlying stocks in both the gold and silver sectors are down in the area of 13% this week, following a blow out in yields and rise in the dollar. As markets hit new highs, the ultimate short squeeze is ensuing. No one expected a Trump win would result in sharply higher prices. Cruelly, the market is rising in a fashion designed to maximize pain for those with risk off positions — namely those long precious metals and fixed income.
Broken cable elevator trading action.
The carnage in equities is far worse — as margin calls culminate and people liquidate their holdings.
This is far from normal trading and the rise in the dollar hasn’t been too severe, higher by just 1.2% this week. In short, this is a wanton attack on positions that have been accumulated for the better part of the past year. Both gold and bonds have been a mainstay amongst both bears and those skeptical over the economic prospects for global trade this year. Moreover, we’ve seen a 20% spike in copper this week, also a nonsensical move when taking into account that literally nothing has changed since Tuesday.
Nevertheless, markets have a long, rich, history of running down people and making them beg for mercy. No one ever said this shit was easy.
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The banks win again
ha
Cover Fcx?
dollar cost average this sale price — i wouldn’t be shocked if we hit 1100…i’m starting to buy slow & steady….
Molon labe.
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