Daily Silver Blog: June 27, 2017 - Dollar hammered!
Today's main story has to be about dollar getting absolutely decimated. The dollar dropped over a dollar (no pun intended)!
5 year treasury auction today was ugly to say the least.
Oil got a boost from declining dollar but couldn't save the stock market with Nasdaq continuing to get pummeled and making it the first losing month of 2017 - this is just the beginning.
Market story was that the stocks went down on account of delay on voting on the healthcare bill. I am not buying that story as the bill was DOA anyway. Something more sinister is going on.
Despite the weakness in dollar, gold and silver didn't show any traction. So somebody continues to suppress the metals. The whole idea of suppressing the gold market is to prop up the dollar but if that didn't happen then I have to imagine that things are starting to fall apart. As I have been saying for long that end of silver and gold manipulation is near. By middle of July things will be crazy but on the flip side.
Cryptos downfall has halted for a while. I don't believe it is over yet. I think another 1-2 day and it will present some good buying opportunity.
Most important aspect was that despite dollar going down JPYUSD index also went down. That means that the Yen carry over trade is coming under pressure and that is bad news for the USA.
Overall, exciting times ahead.
Be prepared and be safe.
#steemsilvergold community - feel free to resteem and upvote :-)
@anothervoice of the steemsilvergold community was here and up voted.
yeah, and now on to the next #steemsilvergold article...
I loved your message, upvoting for the creative humor!
Thank you @ajain
I agree with you, wholeheartedly about the carry trade; I have mentioned this a few times today and here's my chart to show it; they are the mirror of each other and have been for a few years now. Nice article and I'm glad we can share these thoughts with each other. Keep them coming. Thank you.
the drop in the dollar will manifest in a massive gold and silver spike very soon.
As I had written earlier, based on the consolidation patterns i think it will be with in 2 weeks or so.
thank you for your report, ajain. yes, exciting times ahead...
silver per oz today: in dollar +0,54%, in euro -0,84%. nice ;-)
That is interesting. Just this morning I read the article that Draghi's hawkish comments didn't go very well. But must have boosted Euro. That would explain the decline of silver in Euro term.
silver performance so far this year: USD +4,71 %, EUR -2,94 %.
not bad compared to S&P (~6%) considering S&P is pumped up and silver is held down through manipulation.
yeah, absolutely.
Nice to see silver recovering almost all of its losses after yesterdays $2bn gold dump. Gold still has a little catching up to do but these smash downs just don't drive the price like they used to. Underlying momentum appears not to be on their side.
Ditto @anothervoice! Here, read, appreciated, upvoted & re-steemed!