Monday, June 2, 2014
gold down, copper up, because wharrgarbl
Here are some charts.
Gold has been -2SD down for days on end, on high volume. This is obviously because nobody in the world is going to buy physical gold ever again, and not because Wall Street Whitey is getting spooked out of his worthless paper position by an options expiry bodyslam.
Silver has been -2SD down for days on end. This is obviously because silver is money, not an industrial metal at all, and so Wall Street Whitey is going to dump his silver futures because he is embarrassed by his tiny white penis. I mean hell, look at that chart!
Because nobody is buying copper, and there's a gross oversupply of copper, and copper will collapse the second Chinese demand falls away, and that's why it's been in an uptrend for a couple months now.
Similar, nickel has been in a strong uptrend for the year, up 50% now, because it's an industrial metal unlike silver which is real physical money and the world is running out of nickel. I mean, there's only 130 million tons of it left in identified deposits, a significant minority of which are in New Caledonia and Australia who last I checked aren't at fucking war with the Ukraine.
It's all obvious if you just spend a few minutes thinking about it.