Gold, Silver, And Crude Oil Are Getting Slammed In Early Trade. By Gregory Mannarino

in money •  7 years ago 

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At the time I am writing this article trading on the New York Stock Exchange began roughly an hour and 20 minutes ago, with gold, silver, and crude oil down across the board.

Cash continues to leave the bond market pushing yields higher, and the US dollar is slightly stronger in early trade.

Market volatility is also slightly lower in early trade with all three major indexes higher.

It seems strangely odd to me quite frankly, that the paper derivatives of gold and silver would be under such pressure as of late with the Federal Reserve promising to create inflation using all necessary means.
Even more interesting, is the fact that yesterday at the open of the Japanese markets, spot silver prices experienced a flash crash losing around 6% in just a few seconds.

I can say with certainty that the price action of paper derivatives involving gold and silver will continue to be manipulated and faked for the foreseeable future, but to me this means opportunity.
Opportunity because the global debt bubble is continuing to inflate at a furious pace with no sign of slowing. Moreover and once again, this leads me back to the premise which I have been saying for years-and that is "bet against the debt, and become your own central bank."

Use the obvious faking of the "dollar alternatives" markets, which include cryptocurrency, as major opportunities to acquire more as a long term bet against the dollar-which the Federal Reserve has promised to punish to create inflation...

Gregory Mannarino
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I've bought some more SLV (Silver ETF) today. Commodities are very cheap right now. Especially silver.

I've written this post about it yesterday: Commodities were never so cheap compared to US stocks since 1971.

If you cant hold it, you don't own it...

The whole PM situation makes no sense at all (except for those who initiated it, I guess) - the dollar is weaker, so PM drops as well? Thats total BS.
But, as you say, its a opportunity for buying, for those who can.
Have a nice weekend!

It`s pure manipulation as one of several last ditch efforts to save the fiat dollar based global scam, they try and call the "economy". If metal surges, it will just speed along the death of the dollar, and a WS trading day may start to become a series of market halts and starts, as the breakers trip ... we can only hope.

time to pick up some more silver i think :)

10oz bar - at spot + Free Shipping (1 per person)

https://silvergoldbull.com/10-oz-silver-gold-bull-silver-bar

Sadly not for me.. I'm in the UK where they like to cane you with VAT. So we have to be wily and buy from Europe with no Vat :)

  ·  7 years ago (edited)

Hey, I live in London and I found the following websites of you wanna buy silver with NO VAT and reliable 100%:
www.europesilverbullion.com
www.celticgold.eu/en

I bought thousands of silver coins in last 6 months. Both of them delivery all over Europe and paypal payment is available for one of them.
Then, this one:

https://www.goldmoney.com/w/dcgold

Because I could not keep all of my physical at home. Here you can buy silver, gold and others and their premium price are way lower then the normal website. Super cool this one.
Hope it can help you and Be your own bank ;)

thanks for the info.. I'll take a look. It sounds promising to spend paypal money :)

Very attractive deal!!!

I like the paypal option too

Have you purchased from them? I bought from a few and have settled for JM Bullion where I purchase. But "spot" is a good price!!!!!

Yes - one time before this - a couple years ago.
Picked up this bar & a couple rounds for ~$200.

Definitely. Take advantage of the low prices. I plan to get a few ounces of silver this weekend.

I'll be picking up a few anniversary Britannia's

I am debating on going for silver ounce bars or coins. Usually, I get the Canadian Silver Maple coins.

I like the Maple Leafs too!! But I feel I have enough of those and am buying the Sunshine rounds or bars.

I think hyperinflation of the dollar is a certainty. Thanks for the update Greg.

Yes, this is a Opportunity because the global debt bubble is continuing to inflate at a furious pace with no sign of slowing.

"Bet against the debt, and become your own central bank." is good advice. ty

Nice purchases made by me today.

I like the lower gasoline prices, but don't like the silver stock drying up at my favorite coin shop. Also, two local pawn shops, near me, in Virginia Beach, look more like a used car lot. Where is today's video?

Nice piece of information. Keep it up! 🙃

Silver is being punished for being awesome! How much longer can this go on? Great post my friend!

Years.

Yes you could be right. Followed.

THANK YOU GREG

Markets becoming more and more ridiculous. Silver is under huge pressure, but why? It does not make any sense. I guess best bet will be to wait a little bit and than buy silver. This paper derivatives is so hard to trade. Man a hope it is not going under 10$.

I hope it drives silver down to $5.00 I know waiting is the hardest part. The greater the pressure manipulating pm's down, the greater the force will be when they break loose. and at $5.00 I will buy enough to make a silver toilet, faucets and fixtures. H*** i would replace all the copper wiring and plumbing in my house with silver. Plant a silver brick in the back yard water it with silver and see if I can grow a silver tree. Silver fronts here I come. Silver rims for my car. I'll make a silver rope so thick and heavy I would have to hire Vin Diesel to wear it for me. If anything Greg says is true and it is not hard to see the evidence of this, we should all be cheering for silver to go negative, and make people pay us to take it. Every dollar spent on a real tangible asset weather it be $1.00 or $1000.00 is the conversion of something that has absolutely no value in to something of great value and rising. Hmm what do you think about silver wallpaper?

The thing is that I trade silver whit leverage and other assets also. But as investment like physical silver, then best bet in my opinion, will be to buy now and all the time. The cheaper the better. Real value of silver and gold is much much higher. Greg is correct about debt bubble, http://www.nationaldebtclocks.org/, for perspective.

Risky game, greater the risk greater the profit's. Personally since my holdings are all physical, precious metal's base metals. When the price goes up I'm happy and when the price goes down again I'm happy. I buy more for less currency. I see a pop in copper for example I lock in a price and ship a load. I do not care about the price because I mostly hedge all my bet's. It is not glamorous nor will I get rich over night but I will continue to stack currency and convert it in to more physical precious and base metal's. When market's go side ways I will be sitting on real tangible asset's. With small bet's you can probably do in a couple day's or weeks what I could do in a couple months, maybe longer I don't know the particular's of you situation. However it seems to me using leverage in a paper derivatives market is insane. Big holder's of naked short's are able to drop massive position's in a matter of minute's and if your not privy to their timing you end up holding the bag, on top of that any type of analyses of the market's are completely useless essentially leaving trader's in the dark. Gambling really, and suppose the markets do go side ways and the price of gold and silver start climbing exponentially who in their right mind would take the other side of your trade when you wish to sell essentially leaving you again holding the bag. eeeesh that is definitely not for me. But I do feel bad for wishing the price drop's to $5.00. I tell you what, I will take it back hope for the price to pop for ya so you can close your position's and then let silver drop so I can hire Vin Diesel to carry my silver filled briefcase:)

You do not need to feel bad for wishing what you want. Np. Trading is not for everyone and yes, your bet is the right one. Physical silver is the best investment by far.

At this price time for more silver. Thanks

I live in London and I found the following websites of you wanna buy silver with NO VAT and reliable 100% in Europe:

www.europesilverbullion.com
www.celticgold.eu/en

I bought thousands of silver coins in last 6 months. Both of them delivery all over Europe and paypal payment is available for one of them.

Then, if you would like to buy other PMs (gold, silver, platinum, palladium), even just grams, please check this one:

https://www.goldmoney.com/w/dcgold

I could not keep all of my physical at home and this is a cool alternative. Here the PMs' premium price are way lower then the normal website and you have physical stored in many safe places which you can claim back as soon as you need directly into your bank account.

Hope it can help you and Be your own bank ;)

My question is why are the markets going up when the labor participation rate and unemployment rate both went up.

Algorithmic painting of charts.

Al Gore has no rhythm. No way it's him. :-)

followed, upvoted and resteemed

None of these market dynamics make any sense anymore. The smell of FRESH meat gets stronger!

I think they are getting desperate

Nice post!! upvoted!! Followed!!

I was wondering do you trade cryptos too? If so which ones do you favour any tips there?

I like Ripple as an alternative for anyone who truly believes the dollar is going to crash out. You certainly wouldn't trade out of Bitcoin to buy dollars right now...not if you are a "card carrying" cryptoid you wouldn't. That's why I "suggest" Ripple. if it turns out that bitcoin does do a drop below $2000 here than you will be wanting to drown your sorrows "if" you bought where Dollar Virgil Jeff Berwick held his last "champagne and ceegar" celebration party. Ripple is a good choice for people like that. Plus it winks at you. Bitcoin doesn't do that. :-) For the record...I think all card carrying cryptoid believers are "lively" people.

lol. I just bought a bunch of silver a few days ago. Today, the words of Vince Lombardi are echoing in my mind: "What the hell is going on out there?"

It speaks to me of opportunity as well. I continue to stack the silver, as gold is out of my reach without paying high premiums for fractions. That's okay tho, as I am still in the game.

I buy mostly silver, but you can buy grams of gold. It doesn't sound like much but it adds up over time. If the market goes sideways tomorrow it wont amount to much but if we keep chugging along for a year/s or so, one could amass a tidy little sum of one gram coins or bars. Plus they are cute as h***. I think I will put one in a ring for my daughter. Just don't count your self out of the gold market. When it all goes down the price of gold and silver will rise together before the moonshot in silver begins.Exchange your gold for necessities and hold your silver.

Agreed! I love the little bars myself, but I just don't buy them very often. I usually buy at online exchanges and the premiums are kinda high. Once in a great while I treat myself. Mostly I stick with the silver and as Mr M says, silver is the most undervalued asset on the planet. Let's keep chuggin' LOL

They are awesome and there is a premium I too can't justify spending 1250 on gold when I can buy a lot of silver for that currency and who knows, maybe one day the price ratio will be 1/1 and we can trade some silver for gold. Gold is just so much prettier.

Thanks Greg for the updates - Keep 'em coming! The villains can't continue their deception forever!

HAHA the joke is on the banksters, keep cranking the price lower and we can keep getting cheaper silver!

Great Post
Thank you

Oil stocks under pressure makes a lot of sense, there's a supply glut. Oversupply is unlikely to change any time soon.

I agree however, despite that crude enjoyed a major rally for the past 2 weeks. Realistically crude should be much lower IMO.

Greg what's the likelihood of industrial demand outstripping physical supply of silver, cheers mike

Nice Post

Opportunity, yes.

Time to place a sizeable order on Precious Metals! :P Thanks for the update Mr. Mannarino.

That silver flash crash was a incredible stop loss hunting! Algos everywhere!

Buying opportunity, although it may be better here shortly but hell at these prices who really cares. Take advantage of their error my friends. It'll pay off one day. All you're really doing is trading monopoly money anyways.

Got a few sunshine rounds with spot at $15.40 today ... very pleased to add-on so low.

I've done that! Probably at the same place!!!

And one of these for the significant other ... :-)
Red-Tailed-Hawk_env.jpg

I want more shiny metal!!! :-)

This is crazy, How long they can do this. When will it end.

Hi Greg, Thanks for all your hard work at keeping us all updated. As the price goes down on Gold & Silver it looks like we ALL should be BUYING. With that said....I'd like to say that APMEX has numerous Gold coins to choose from. I just bought 2 Coins (2Rand) only $10.00 above spot and about (0.24) ounces. Always get GREAT coins from them. Just have to search a little to find a GREAT deal there. As for Silver bullion...I usually purchase from SDBULLION. GREAT prices and ALWAYS Happy with my purchase. Hope this helps any of you STACKERS. :C)

Just bought more gold at 1211 hope it goes lower so I could buy more. Will start buying crude at around 41 level. hope I have a chance.
Thank you for the update.

Once again more manipulation...

"Become your own Central Bank."

Thanks for the up vote. Much appreciated @marketreport

"Cryptocurrencies are cannibalizing demand for gold," "Bitcoin is arguably becoming a scarcer store of value" -Fundstrat Global Advisors

i've been thinking about buying commodities and protect wealth for my family for a long time, i am confident that bitcoin, and the cryptos are the way to go.
So far, the guys at goldmoney are doing a fine job if you wish to purchase and own silver and gold.