Best of the Week
Most Popular
1. Investing in a Bubble Mania Stock Market Trending Towards Financial Crisis 2.0 CRASH! - 9th Sep 21
2.Tech Stocks Bubble Valuations 2000 vs 2021 - 25th Sep 21
3.Stock Market FOMO Going into Crash Season - 8th Oct 21
4.Stock Market FOMO Hits September Brick Wall - Evergrande China's Lehman's Moment - 22nd Sep 21
5.Crypto Bubble BURSTS! BTC, ETH, XRP CRASH! NiceHash Seizes Funds on Account Halting ALL Withdrawals! - 19th May 21
6.How to Protect Your Self From a Stock Market CRASH / Bear Market? - 14th Oct 21
7.AI Stocks Portfolio Buying and Selling Levels Going Into Market Correction - 11th Oct 21
8.Why Silver Price Could Crash by 20%! - 5th Oct 21
9.Powell: Inflation Might Not Be Transitory, After All - 3rd Oct 21
10.Global Stock Markets Topped 60 Days Before the US Stocks Peaked - 23rd Sep 21
Last 7 days
BREWING FINANCIAL CRISIS 2.0 Suggests RECESSION 2022 - 28th Jan 22
Financial Stocks Sector ETF XLF $37.50 Continues To Present Opportunities - 28th Jan 22
Stock Market Rushing Headlong - 28th Jan 22
The right way to play Climate Change Investing (not green energy stocks) - 28th Jan 22
Why Most Investors LOST Money by Investing in ARK FUNDS - 27th Jan 22
The “play-to-earn” trend taking the crypto world by storm - 27th Jan 22
Quantum AI Stocks Investing Priority - 26th Jan 22
Is Everyone Going To Be Right About This Stocks Bear Market?- 26th Jan 22
Stock Market Glass Half Empty or Half Full? - 26th Jan 22
Stock Market Quoted As Saying 'The Reports Of My Demise Are Greatly Exaggerated' - 26th Jan 22
The Synthetic Dividend Option To Generate Profits - 26th Jan 22
The Beginner's Guide to Credit Repair - 26th Jan 22
AI Tech Stocks State Going into the CRASH and Capitalising on the Metaverse - 25th Jan 22
Stock Market Relief Rally, Maybe? - 25th Jan 22
Why Gold’s Latest Rally Is Nothing to Get Excited About - 25th Jan 22
Gold Slides and Rebounds in 2022 - 25th Jan 22
Gold; a stellar picture - 25th Jan 22
CATHY WOOD ARK GARBAGE ARK Funds Heading for 90% STOCK CRASH! - 22nd Jan 22
Gold Is the Belle of the Ball. Will Its Dance Turn Bearish? - 22nd Jan 22
Best Neighborhoods to Buy Real Estate in San Diego - 22nd Jan 22
Stock Market January PANIC AI Tech Stocks Buying Opp - Trend Forecast 2022 - 21st Jan 21
How to Get Rich in the MetaVerse - 20th Jan 21
Should you Buy Payment Disruptor Stocks in 2022? - 20th Jan 21
2022 the Year of Smart devices, Electric Vehicles, and AI Startups - 20th Jan 21
Oil Markets More Animated by Geopolitics, Supply, and Demand - 20th Jan 21
WARNING - AI STOCK MARKET CRASH / BEAR SWITCH TRIGGERED! - 19th Jan 22
Fake It Till You Make It: Will Silver’s Motto Work on Gold? - 19th Jan 22
Crude Oil Smashing Stocks - 19th Jan 22
US Stagflation: The Global Risk of 2022 - 19th Jan 22
Stock Market Trend Forecast Early 2022 - Tech Growth Value Stocks Rotation - 18th Jan 22
Stock Market Sentiment Speaks: Are We Setting Up For A 'Mini-Crash'? - 18th Jan 22
Mobile Sports Betting is on a rise: Here’s why - 18th Jan 22
Exponential AI Stocks Mega-trend - 17th Jan 22
THE NEXT BITCOIN - 17th Jan 22
Gold Price Predictions for 2022 - 17th Jan 22
How Do Debt Relief Services Work To Reduce The Amount You Owe? - 17th Jan 22
RIVIAN IPO Illustrates We are in the Mother of all Stock Market Bubbles - 16th Jan 22
All Market Eyes on Copper - 16th Jan 22
The US Dollar Had a Slip-Up, but Gold Turned a Blind Eye to It - 16th Jan 22
A Stock Market Top for the Ages - 16th Jan 22
FREETRADE - Stock Investing Platform, the Good, Bad and Ugly Review, Free Shares, Cancelled Orders - 15th Jan 22
WD 14tb My Book External Drive Unboxing, Testing and Benchmark Performance Amazon Buy Review - 15th Jan 22
Toyland Ferris Wheel Birthday Fun at Gulliver's Rother Valley UK Theme Park 2022 - 15th Jan 22
What You Should Know About a TailoredPay High Risk Merchant Account - 15th Jan 22

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Is the Precious Metals Market really Overwhelmed and Chaotic

Commodities / Gold & Silver 2020 Sep 07, 2020 - 11:43 AM GMT

By: Robert_Singer

Commodities

August 13, the Market Oracle  publishes my article on Gold, Silver, the Black Rock and the Twins. I claim something is going on that can’t be explained without knowing what happened in 2015 that changed the precious metals and mankind’s destiny.

I am still waiting to see if Silver tests the $21 resistance but what happened yesterday (August 11) and the next day is perplexing.


August 11

Let’s start with the Dow:

As a return of risk appetite following encouraging economic numbers and hopes of new coronavirus relief package boosted the S&P 500 to near record highs, within inches of its late-February all-time high, until the last hour when the Dow went into the red and lost 104.53 points to close at 27,686.91. The S&P 500 lost 0.8% to 3333.69. The Nasdaq Composite dropped 1.7% to 10,782.82.

And then the Precious Metals

(Reuters) – Gold sank as much as 5.3% on Tuesday, facing its worst one-day rout in seven years, Other precious metals also took a beating, with silver plunging as much as 13.8% – its biggest daily decline since October 2008. It was down 13.4% to $25.24 per ounce by 1:59 p.m. EDT (1759 GMT). Platinum dropped 4.7% to $940.08, and palladium slid 4.7% to $2,116.33. Gold for December delivery lost $93.40, or 4.6%, to settle at $1,946.30 an ounce on the Comex division of the New York Mercantile Exchange.

August 12 AM

Stocks rose on Wednesday as Wall Street rebounded from a sharp reversal in the previous session that led the S&P 500 to snap a seven-day winning streak. The Dow Jones Industrial Average climbed 268 points, or nearly 1%. The S&P 500 gained 1.3% while the Nasdaq Composite advanced 1.8%.

Silver and Gold were still correcting after hours

23:55 NY Time Gold Bid/Ask 1889.50 / 1890.50 Low/High 1875.60 / 2023.60 Change -20.50, Silver 24.07 -0.69 but at 9:31 Am  they woke up to yesterday’s closing prices: Gold was $1941.82 Silver $25.66 .

One of the world’s premier retailers of precious metals products website as of 9:16 am August 12, is not being updated and still shows the after hours prices August 11, 23:55 NY Time, Gold $1889.50 Silver $24.07.

The August 12 prices, Silver as of 9:58:57 EST am was Up .66 to $25.70

I started the screen captures 6:57 am

A few times it took a while to load and I got a blank screen. [1]

I checked my phone to verify the mobile site was not updated as well. [2]

At 7:46 am, I got a 504 Error: too much traffic message alert

At 7:49 am,  August 11 23:55 returns.

The site displayed August 11 23:55 am until August 12 5:10 pm.

The website has an impressive traffic rank.

Global Rank Worldwide 2,057 Country Rank United States 727 Category Rank Finance > Investing 26

I am wondering if too many people are listening to one of the leading companies dedicated to providing investors with a secure, cost-effective, transparent way to purchase and hold physical bullion.

In conclusion, it is evident that holding gold should be a priority for investors considering the looming economic uncertainty within the economy, as well as the historically superior performance of gold over the last 20 years. It would be naïve for investors to continue ignoring the benefits of adding physical bullion to their portfolios during these turbulent times.

August 12, 5:31 pm Phone Call

I contacted the leading precious metals website by telephone. The representative that answered was aware the site was down since this morning but didn’t know that it was backup this evening. Overwhelmed and chaotic were the words he described as the activity for the last two weeks at the website.

If you have an explanation for this be sure and leave a comment.

By Robert Singer

Robert Singer writes about Secrets, Sentient Creatures and The Federal Reserve at The Peoples Voice and The Market Oracle (rds2301@gmail.com)

Robert Singer is an Entrepreneur and the author of a forthcoming book on the Federal Reserve. His articles cover politics and the financial and environmental implications of our consumer society. 

© 2020 Copyright Robert Singer - All Rights Reserved
Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in