"When misguided public opinion honors what is despicable and despises what is honorable, punishes virtue and rewards vice, encourages what is harmful and discourages what is useful, applauds falsehood and smothers truth under indifference or insult, a nation turns its back on progress and can be restored only by the terrible lessons of catastrophe." … Frederic Bastiat

Evil talks about tolerance only when it’s weak. When it gains the upper hand, its vanity always requires the destruction of the good and the innocent, because the example of good and innocent lives is an ongoing witness against it. So it always has been. So it always will be. And America has no special immunity to becoming an enemy of its own founding beliefs about human freedom, human dignity, the limited power of the state, and the sovereignty of God. – Archbishop Chaput


Saturday, May 18, 2013

Trader Dan Interviewed at King World News Markets and Metals Wrap

You will want to tune in to this week's KWN Markets and Metals Wrap with Eric King as this is a wide ranging interview detailing the psychology behind the poor price performance of the Western paper gold markets.

Please click on the following link as it will take you to that audio file....



  1. I checked 5 gold dealers this weekend.

    Most items are now in stock, and premiums have come down from last month.

    For example, CNI (golddealer.com) was sold out of Krugerrands two weeks ago, now they are available for $1,419.

    If you want to sell Krugerrands, you are in trouble, because the asking prices are now down to $1,369.

    It is a shame to see so many carnival barkers claiming that the physical market is tight, when in fact most people are now selling on rallies to raise cash so they can participate in the stock market.

    However, I expect gold prices to rebound later this year when the EEM index hits new highs, as demand for jewelry and collector coins from overseas markets picks back up.

    1. Further confirmation that there is no supply shortage. A $12/oz premium to spot in the Indian markets where all sorts of shennanigans are going on for the supply side is not that telling to me. When I see $100 premiums, bullion bank defaults, and widescale, long(er) term physical disruptions I will pay attention.

      Looking back, all that physical demand from the retail sector the last selloff was easily absorbed. That was right after income tax refund season too. Will the retail sector have follow through? Not as long as stocks are screaming along everyday. Bide you time. We *WILL* get a double in gold. Say at 1100 to 2200, but something has to change - and it will eventually.

    2. Just got the latest newsletter from Silver Bullion Pte Ltd here in Singapore, and emailed him personally regarding the supply question:

  2. The gold cartel never ceases to amaze me at their ability to fleece the specs and retail investors. They have now positioned themselves for the other side of the trade, but I think they want to see the specs make one more big push to the downside, not coincidentally probably around the same timing that stocks go parabolic.

    That's why I watch trader dan's downside targets, so I know when to start scaling in. Let's see if 1325 holds. I can imagine a bounce at 1325 to a trading range of 1325 to 1350 before a break to the downside on third try at resistance.

  3. The baa baa (black swan?). indicators are so bountifully procreative that it doesn't get any better than this. http://www.marketwatch.com/story/consumer-sentiment-perks-to-post-recession-peak-2013-05-17?dist=lcountdown Fatten the lambs for the feast good financiers...


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