Gold, Silver, PM's and Markets

perm -
In terms of  the ladies who fear not being able to abort a baby on account of ****,  my assumption is that they need not ever fear such an eventuality because all of them were barn door ugly.   The pro-life ladies were overall very attractive.

pretty shallow observation, watch the Janes documentary and tell me how you then feel?

July 8

The Fed balance sheet hit a brand new high on April 13 at 8.965T...today it's only 8.932T ...man that thing is coming down fast...NOT.

$11 increase in POG from 1846 to 1857 on 143K, so far this down move from 1857 to 1851 on a whopping 6K

Tomorrow - QUAD witching

finally ...a wee divergence?

Wealth Shock Delays Gold Bull Market as Goldman Revises Targets

snippets:
Goldman economists expect two 75 basis-point hikes over the summer, which could sap US growth, add to fears of recession risks and boost gold investment demand.

The bank kept its upside outlook for the gold price but delayed the path by revising its three- and six-month targets to $2,100 and $2,300, from $2,300 and $2,500, respectively. The 12-month target of $2,500 was unchanged. Spot bullion was at $1,813 on Wednesday.

https://news.yahoo.com/wealth-shock-delays-gold-bull-020016996.html

Wall Street Floats 100 Basis-Point Fed Hike as Inflation Stings

https://www.userwalls.news/n/wall-street-floats-100-basis-point-fed-hike-inflation-stings-3358643/

390K
Wage growth 5.2%

I don't doubt the USD goes higher, but as it does it will destroy the competitiveness of US exports.  Maybe a pause in the rate of interest rate hikes? ...back to .25% ...not looking too likely.

USD Weekly and USD Monthly

1870-1877 spot look like key resistance which needs to be taken out.

Apollo - I take it much of your forward predictions are based on the Gold seasonality chart?

need a life saving CHEAP drug...you may be going without...need an expensive Covid vax...plenty to go around.

60 minutes piece on Life-saving generic drugs with low profit margins getting harder to procure

around 13 minutes
https://www.cbsnews.com/video/generic-drugs-pharmaceutical-companies-60-minutes-video-2022-05-22/#x

Well, are they going to try to slam POG one more time going into EOM?
tomorrow is First Day Notice and next week Tues is end of Month

US Holiday on Monday, market closed.

Perm ...our parents blew a loud whistle to come in for supper time...and one wouldn't want to be out of range (could be heard for many many blocks)... as we almost never came home until required.

Of course today...all that would be required is for EACH child to have their own cell phone
...give me the whistle.

Hammy...totally agree...

I had given PB's post a check mark for agree, but thought I should clarify it.

Hambone ...the return to God portion I don't necessarily agree with as that is everyone's personal choice ...

but a return to a good value system ...which I really don't see happening as it was 40-50 years ago..

jesse22 -  #12460 can't disagree with any of that...

In the absence of a comprehensive federal law that requires background checks on all gun sales across the country, criminals, domestic abusers, and other prohibited people can easily avoid background checks in 29 states simply by buying guns from unlicensed sellers—including strangers they meet online.

The harm posed when people who should not have guns can easily avoid a background check is particularly evident in mass shootings, where one in three incidents involved shooters that were legally prohibited from possessing firearms at the time of the shooting, whether because they had a felony conviction, had been adjudicated mentally ill by a court of law, or had a domestic violence restraining order, among other reasons. These shootings resulted in 364 deaths and 125 injuries, or one in four deaths and one in 10 injuries, that may have been prevented with a stronger, more comprehensive background check system.

https://everytownresearch.org/maps/mass-shootings-in-america/

jesse22 - maybe all one has to do is look at our wonderful pharmaceutical industry ...

(I originally posted this in 2012 so it's clearly somewhat outdated, and the link is no longer active)

Adult medication and undeveloped brains do not mix

As I gathered data for my novel, one thing kept coming up in article after article. Something the experts had not included in their data, and many seemed to have overlooked entirely. In most cases the news articles mentioned it in passing, using it to point to a history of violence or depression. They saw the smaller picture, but they failed to see the bigger one.

Out of 22 cases I was able to study in depth, in all but one case, these boys had been on some type of anti-depressant or similar medication. Not only that, time after time I found that their dosages had recently been changed. Either they had recently been prescribed, changed dosage, or just stopped taking them.

Most of these shootings occurred in the 1990's, in a time where there was a 700% increase in psycho stimulant use. That usage more than doubled between 1999 and 2007. A recent estimate states that more than 6% of American children are now on some sort of psychiatric medication, this estimate is even higher among teens. Out of approximately 5 million children under the age of 18, that means 300, 000 are currently on some sort of psychiatric medication.

Recent studies have shown that a small percentage of those on psycho stimulants do show some signs of violent behavior. These people already prone to violence mixed with antidepressants can become a very dangerous threat. Many become a danger to themselves, resulting in attempted or completed suicide while others become outwardly violent. Only .31 % of patients taking a placebo experienced a "hostility event" that number doubled to .65 % when they were given the anti-depressant Paxil, approximately 200 children and teens.

While not everyone who is prescribed these medications can be expected to act out violently, if the propensity for violent behavior is already there, introducing these medications has been proven to double the likely hood of a violent reaction. It's like playing Russian roulette with pills. The risk is small, but the damage done can be great.

This is a subject that is getting more and more attention in recent years, people are beginning to see the dangers and respond to them. Yet the number of prescriptions written for children is increasing. They are now prescribing some of the medications for infants and toddlers.

A black box warning is now required for all antidepressants. These medications were made for and tested on adults. Even in the late teens, the brain is still not done developmentally. Introducing chemicals to an undeveloped brain can and does have dire consequences. They can decrease blood flow to the brain, and induce psychosis in some patients. Increased suicidal thoughts and behaviors can also occur.

oilboiler - did you post this or watch this ...it just seems to make sense regarding the pitfalls of mass vaccination...I watched the first one put out and just finished this one...he is saying the same thing...just more emphatic

THE VANDEN BOSSCHE WARNING - The HighWire

https://thehighwire.com/videos/the-vanden-bossche-warning/

some of the tech stocks starting to look like beaten down gold stocks...take a look at SNAP

Russian Ruble approaching a 5 year high

Looks like that POG resistance level (1834 or 1835) has been sliced through.

Erle

https://watermillexpress.com/ice/

don't appear to be any in your area

Erle...the water stations take coins even nickels, but I doubt in the US if anything takes Canadian coins.

8.3% CPI my ass...Spectrum raising rates AGAIN and it hasn't even been one year since the last one.

XAU daily

Ben - the two I referenced were available to put in a cart for delivery, but maybe they are coming from FL warehouses - and the area I live is an older population so maybe not quite the demand as in other places.

rising gas prices....FL +6.9% in the past week, $4.499, just slightly above the national average at $4.48

https://gasprices.aaa.com/

jesse22  #11102

copper...

and the USD series wouldn't be complete without my OLD Daily than I almost never touch...isn't Apollo the one that says triple tops won't hold...I'm guessing it goes higher...as bad as it is...it's still the best of the worst.

Gspot ...USD ...don't think it's dead yet...Monthly

50 basis pts was a go...

The Federal Reserve approved a rare half-percentage-point interest rate increase and announced plans to shrink its $9 trillion asset portfolio starting next month in a double-barreled effort to reduce inflation that is running at a four-decade high.

The moves, announced after a two-day policy meeting Wednesday, will raise the central bank’s benchmark federal-funds rate to a target range between 0.75% and 1%.

Together, the steps mark the most aggressive Fed tightening of monetary policy at one meeting in decades, aimed at rapidly reducing the economic stimulus that has contributed to rising price pressures. The Fed, which usually lifts interest rates in quarter-percentage-point increments, last raised rates by a half point in 2000.

Iamgold plunges more than 25% as analysts cite unexpected Côté capex rise

09:45 AM EDT, 05/04/2022 (MT Newswires) -- RBC Capital Markets said Tuesday that it expects IAMGOLD Corp.(IAG) shares to be sharply lower after the company released its first-quarter results.

IAMGOLD (IAG) reported an adjusted EPS of US$0.05 per share, beating RBC's estimate of nil per share and the consensus forecast of US$0.01 per share.

RBC said that while IAMGOLD's(IAG) results were ahead of estimates, this is limited in materiality compared to other updates.

RBC flagged the updated project capital expenditure of US$1.2 billion to US$1.3 billion and timelines have been delayed by four to five months.

The company also noted the need for additional liquidity while chair Maryse Belanger took over as new interim CEO.

RBC gave IAMGOLD(IAG) a price target of US$2.00 with an underperform rating.

Apollo - that was an April 5th article...

GLD used to short gold as Maguire states?

it's down 11 Tonnes over the past 6 days while the i-shares gold trust is up 2 tonnes over the same period

Q1 GDP -1.4%  (yes, that's a negative number)

PCE 2.5%

Gspot ...thanks.

Gspot does this count...or does it have to have a higher brim?

XAU Monthly

POG options x today...
as I've said repeatedly ...if you can't take POG down
...take the shares down first.

m2trains ...you really think that Elon is a source for truth? I think he's fooled a lot of people.

DEBUNKING ELON MUSK Pt1 (1080p)
https://www.youtube.com/watch?v=c-FGwDDc-s8

DEBUNKING ELON MUSK Pt2 (1080p)
https://www.youtube.com/watch?v=DopFo1rjAr4

permabear - iodine...my mother has a thyroid issue and was on iodine pills.  I didn't understand until things read on our gold discussion group about the link to low iodine levels and cold feet and hands.

Since I started using Lugols ...it is EASY to get those symptoms to disappear.  I only wish I had known ...years and years ago.

Cherokeeee, NW and permabear ...will have to look into Selenium benefits.

Next Tues is options-x for POG...not a major contract though.

NW - the Marty date was March 14th...it's on his Economic Confidence Model ribbon.  He says it marked Graham's visit to Taiwan.

I didn't even see their release until now...

08:05 AM EDT, 04/22/2022 (MT Newswires) -- Newmont Corp.(NEM) said Friday in its first-quarter earnings release that its project pipeline supports stable production with improving margins and mine life.

The project pipeline includes the phase-two expansion of the Tanami mine in Australia, the Afaho North project in Ghana, the Yanacocha sulfides project in Peru, the Pamour project in Canada and the first-phase expansion of the Cerro Negro operatoin in Argentina.

Newmont (NEM) booked an adjusted EPS of US$0.69 in the first quarter, declining from US$0.74 reported in the same period a year ago.

Analysts polled by Capital IQ expected Newmont's(NEM) adjusted EPS at US$0.71.

The gold miner, which lost 2.0% at last look in US pre-market trading after dropping 5.8% in Canada yesterday, said primary adjustments to its first-quarter net income include pension settlement charges, changes in the fair value of investments, the loss recognized on the sale of the La Zanja equity method investment, reclamation and remediation charges, settlement costs, a voluntary contribution made to support humanitarian efforts in Ukraine, and valuation allowance and other tax adjustments.

Revenue increased 5% year over year to US$3.02 billion due to higher average realized gold prices and higher copper sales volumes. This narrowly missed analyst estimates of US$3.06 billion.

Free cash flow fell to US$252 million from US$442 million. Attributable gold production fell to 1.34 million ounces from 1.46 million ounces.

spot POG 50 MA has been moving up currently 1937.88 -- right around that key number I mentioned previously at 1938

XAU 50 day MA 154.07

anyone remember me posting this chart?
GDX Daily

That was one undeserved ass whooping on the PM stocks, would have been even more painful if I didn't have some money to spend.

Notna - if I recall correctly it takes almost 5 years to retool for the change from pall to plat. Only reason I know anything about it is my brother used to buy catalytic converters and extract the platinum (when they were platinum) and sell it.

you can easily see why it happened in the 2005 to 2010 period relative to the prices for both metals

Plat
https://finviz.com/futures_charts.ashx?t=PL&p=m1

Pall
https://finviz.com/futures_charts.ashx?t=PA&p=m1
_________________________________________

Palladium Rally Threatened by Automakers’ Pivot to Platinum

The technology allows partial substitution of palladium with platinum and is being introduced in smaller vehicles from 2022 and 2023. “We see the beginnings of platinum being substituted back into gasoline catalytic converters,” said David Jollie, head of sales and market insight at global miner Anglo American Plc.

“We see the beginnings of platinum being substituted back into gasoline catalytic converters,” said David Jollie, head of sales and market insight at global miner Anglo American Plc. “This will bring palladium back from its fundamental supply deficit and closer to balance.”

https://www.bloomberg.com/news/articles/2021-08-12/palladium-s-rally-threatened-by-automakers-pivot-to-platinum
_________________________________________

Platinum for Palladium - To Switch or Not to Switch

First and foremost, switching between the two metals is not a simple process that can be carried out overnight. It took a number of years to make the switch from platinum to palladium in the first place and reversing the process will also take time. As General Motors' technical specialist Dr.Rahul Mital explained: “it’s not just a flick of a switch for us”. Over the past 20 years, much has changed in the design of catalysts, and so it would not just be a case of reviving old designs and processes. And, of course, making such a change would likely force a reversal in the relative prices of the metals and revive the whole debate 5 or 10 years down the road! Furthermore, the costs of the redesigns may end up outweighing the savings made, especially if the platinum price advantage is eroded quickly.

https://www.ecotradegroup.com/en/blog/platinum-for-palladium-to-switch-or-not-to-switch

Apollo - do you blame Putin for invading after VP Harris said 4 days PRIOR to the invasion that she thought Ukraine should be allowed to join NATO if they chose to do so?

TOM - this year is the first that NFLX breached it's 200 Wk MA in almost 10 yrs.