Posts Tagged ‘Is the Gold Price Manipulated?’

Will the Real Price of Gold Please Stand Up

This caught my eye – what is the real price of gold?

Will the Real Price of Gold Please Stand Up

goldBy Terry Coxon, Editor, Casey’s Gold & Resource Report

Gold is traded around the clock and in so many places and in so many forms, ranging from the abstractions of futures contracts to the solid tangibility of rings and bracelets, that it’s not clear what the “real” price is. The question is more than a matter of curiosity, since many retail coin and bullion shops quote selling prices in terms of “spot plus X%” or “spot plus $Y.” When you talk to a dealer, what exactly does he mean when he refers to “spot”?

Here are some of the prices that dealers refer to and that you may see reported in the media.

London fix. The five members of the London Gold Pool confer twice daily to determine the a.m. and p.m. price for gold. These are big players, so the fixings they announce have a quasi-official ring to them. But the London fixings determine the price only for trades that by pre-agreement are tied to the fixings. And each fixing has significance only at the instant it’s made. Trading between fixings runs on its own, independently of the preceding fix.

Comex spot contract price. The Comex is the busiest market for trading futures contracts in gold bullion. Each contract is for 100 ounces. Prices during the day represent actual trades taking place in a continuous, competitive auction. When, through the passage of time, a given contract reaches its delivery month, it becomes known as the “spot contract.” At that point, the party on the long side of the contact is free to pay for the physical and demand delivery, and the party on the short side of the contract is free to deliver the gold and demand payment. The possibility of insisting on physical delivery keeps the price on the spot contract tightly linked to the price on large transactions of physical gold between dealers.

New York dealer prices. If you visit www.kitco.com, you’ll find quotes, updated every 30 seconds, for the “New York Spot Price.” These reflect the bid and ask prices quoted by wholesale dealers for spot delivery. Not surprisingly, during Comex trading hours, they track the Comex price for the spot contract.

And there are other sources of prices. For many…
continue reading


Tags: , ,




 
 
 

Phil's Favorites

2008 financial crisis still seems like only yesterday for single women

 

2008 financial crisis still seems like only yesterday for single women

A woman walks by the New York Stock Exchange. AP Photo/Richard Drew

Courtesy of Melanie G. Long, Colorado State University

For many Americans, the financial crisis that plunged the global economy into recession a decade ago may seem like a distant memory.

Household net worth – the difference between assets and debts – reached a record US$98.7 trillion in the last quarter of 2017, up from $56.2 trillion in 2008.

Yet net wealth, by itself, masks a lot of information that could signal troubling tr...



more from Ilene

Zero Hedge

What If A Nuke Goes Off In DC: Science Mag Simulates "The Unthinkable"

Courtesy of ZeroHedge. View original post here.

Authored by Mitchell Waldrop via ScienceMag.com,

At 11:15 on a Monday morning in May, an ordinary looking delivery van rolls into the intersection of 16th and K streets NW in downtown Washington, D.C., just a few blocks north of the White House. Inside, suicide bombers trip a switch.

...



more from Tyler

Digital Currencies

"The House Always Wins": These Funds Made A Killing As Bitcoin Plunged

Courtesy of ZeroHedge. View original post here.

Volatility, neutral exposure and market making can still pay - at least for crypto hedge funds.

Despite the fact that cryptos have collapsed across the board so far in 2018, one investing axiom still holds true to this day: the house always wins. Those who have been making a market, keeping neutral net exposure and benefiting from exotic methods of trading cryptocurrencies have continued to have a positive year this year despite the fact that a lot of the underlying cryptocurrency assets have had a terrible year.

...



more from Bitcoin

Insider Scoop

Cowen Says The Big Sell-Off In Skechers Is A Buying Opportunity

Courtesy of Benzinga.

Related SKX 25 Stocks Moving In Friday's Mid-Day Session Mid-Day Market Update: Skechers USA Falls After Weak Q2 Guidance; Ericsson Shares Climb...

http://www.insidercow.com/ more from Insider

Chart School

Short Opportunity II

Courtesy of Declan.

The first chance for a short play got burned but there is a second one on offer for the S&P.

The S&P tagged channel resistance and while today's reversal off resistance didn't amount to a big percentage loss it did register as a distribution day. There wasn't any significant technical change so if this short does evolve it will do so with risk measured on a move above 2,717.


The Nasdaq may match a 'bearish evening star' but if this is the case there has to be a significant move lower tomor...

more from Chart School

ValueWalk

Buffett At His Best

By csinvesting. Originally published at ValueWalk.

Bear with me as I share a bit of my history that helped me create SkyVu and the Battle Bears games. The University of Nebraska gave me my first job after college. I mostly pushed TV carts around, edited videos for professors or the occasional speaker event. One day, Warren Buffet came to campus to speak to the College of Business. I didn’t think much of this speech at the time but I saved it for some reason. 15 years later, as a founder of my own company, I watch and listen to this particular speech every year to remind myself of the fundamentals and values Mr. Buffett looks for. He’s addressing business students at his alma mater, so I think his style here is a bit more ‘close to home’ than in his other speeches. Hopefully many of you find great value in this video like I have. Sorry for the VHS...



more from ValueWalk

Kimble Charting Solutions

The Stock Bull Market Stops Here!

 

The Stock Bull Market Stops Here!

Courtesy of Kimble Charting

 

The definition of a bull market or bull trends widely vary. One of the more common criteria for bull markets is determined by the asset being above or below its 200 day moving average.

In my humble opinion, each index above remains in a bull trend, as triple support (200-day moving averages, 2-year rising support lines, and February lows) are still in play ...



more from Kimble C.S.

Members' Corner

Cambridge Analytica and the 2016 Election: What you need to know (updated)

 

"If you want to fundamentally reshape society, you first have to break it." ~ Christopher Wylie

[Interview: Cambridge Analytica whistleblower: 'We spent $1m harvesting millions of Facebook profiles' – video]

"You’ve probably heard by now that Cambridge Analytica, which is backed by the borderline-psychotic Mercer family and was formerly chaired by Steve Bannon, had a decisive role in manipulating voters on a one-by-one basis – using their own personal data to push them toward voting ...



more from Our Members

Biotech

How your brain is wired to just say 'yes' to opioids

Reminder: Pharmboy and Ilene are available to chat with Members, comments are found below each post.

 

How your brain is wired to just say ‘yes’ to opioids

A Philadelphia man, who struggles with opioid addiction, in 2017. AP Photo/Matt Rourke

Courtesy of Paul R. Sanberg, University of South Florida and Samantha Portis, University of South Florida

...

more from Biotech

Mapping The Market

The tricks propagandists use to beat science

Via Jean-Luc

How propagandist beat science – they did it for the tobacco industry and now it's in favor of the energy companies:

The tricks propagandists use to beat science

The original tobacco strategy involved several lines of attack. One of these was to fund research that supported the industry and then publish only the results that fit the required narrative. “For instance, in 1954 the TIRC distributed a pamphlet entitled ‘A Scientific Perspective on the Cigarette Controversy’ to nearly 200,000 doctors, journalists, and policy-makers, in which they emphasized favorable research and questioned results supporting the contrary view,” say Weatherall and co, who call this approach biased production.

A second approach promoted independent research that happened to support ...



more from M.T.M.

OpTrader

Swing trading portfolio - week of September 11th, 2017

Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



more from OpTrader

Promotions

NewsWare: Watch Today's Webinar!

 

We have a great guest at today's webinar!

Bill Olsen from NewsWare will be giving us a fun and lively demonstration of the advantages that real-time news provides. NewsWare is a market intelligence tool for news. In today's data driven markets, it is truly beneficial to have a tool that delivers access to the professional sources where you can obtain the facts in real time.

Join our webinar, free, it's open to all. 

Just click here at 1 pm est and join in!

[For more information on NewsWare, click here. For a list of prices: NewsWar...



more from Promotions

All About Trends

Mid-Day Update

Reminder: Harlan is available to chat with Members, comments are found below each post.

Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

more from David





About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

Learn more About Phil >>


As Seen On:




About Ilene:

Ilene is editor and affiliate program coordinator for PSW. She manages the site market shadows, archives, more. Contact Ilene to learn about our affiliate and content sharing programs.

Market Shadows >>