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At just under 5,920 total tons in NY Fed inventory, this is the lowest amount of gold held in NY Fed custody in decades, and is the 20th consecutive month of flat or declining gold, and when added to previous outflows, amounts to 199 tons of gold withdrawn in the past 12 months, and a whopping 276 tons pulled since the start of 2014.
Indicatively, during the last crisis period, starting in March 2007 and lasting through November 2008, foreign central banks withdrew gold for a total of 20 out of 21 consecutive months, repatriating a grand total of 409 tons of gold. The last period of peak redemption culminated with the failure of Lehman in September 2008, the near failure of AIG in October and November 2008, coupled with the Fed’s bailout of the western financial system.
If past is prologue, one should ask: what current or future event is driving the ongoing redemption of gold from the NY Fed this time?
Count and or pattern option that has the ath down to 24th Aug low
as A or 1 and the current rally as B or 2 now waiting for C or 3
down is still valid. If this is correct then when the next down
move starts is should be fast like the A or 1.Never give up, never surrender.
Dan, maybe in 2016 we find that having some gold and silver and cash
handy is a good defence against these rather strange happenings 🙂Never give up, never surrender.
With stock markets positioned at such an interesting
point, I am very tempted to end my holiday and get
back to trading now, rather than waiting for 2016.Never give up, never surrender.
U cant keep away Cim 🙂
Market junkie ?
Well as I don’t have any friends, you guys are all I have really 🙁
Never give up, never surrender.
In the rally off the Aug lows, at one point the Ftse
was the leader based on fib retrace of ath.US has taken the lead now.
I think to know who is right atm, we have to wait
for the NFP because stock markets are fueled by
low interest rates, so are very sensitive to
any hint of a rate hike.Never give up, never surrender.
I have a small positional short on the Ftse which I may
add to but for now it’s a guard against another drop.It’s quite possible that drop will be in 2016 hence a
small short.Never give up, never surrender.
My small Ftse short is at 6400 and will keep me interested
until January when I expected we get the real action.Never give up, never surrender.
BoE on thursday for Ftse and Cable traders then NFP on
friday for all traders.Same old problem. Too high to long, to strong to short.
Small trade size required.
Never give up, never surrender.
In Asia we had early high pt and sell off for Jpn and Aus.
Then a delayed form of that for the Ftse.
So then will the US do an early high pt then sell off.
Would all be variants of S2H, imho.
Never give up, never surrender.
Cashed in at 6395 (short 6400).
Want BoE and NFP out of the way, fwiw.
Never give up, never surrender.
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