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Valcambi have a few interesting charts on their Charts page. Here’s one:

1-5 DOW/Gold ratio can be achieved in two ways: either gold will go up, or the DOW will drop.

I’m betting on gold going higher. Crazy as it sounds, I believe there’s going to be a major war in a year or three. There, I said it.

EDIT: Here’s an even longer-term chart from elsewhere. Not sure what technical scenario applies here. Does every new peak exceed the previous? or will it only work 3 times and the pattern will change? More questions than answers, sorry.

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El Guapo said $425, and llman – $325. llman, you’re a pessimist!

I probably look naive or something, ’cause after seriously intense calculations, my “handler” looked me straight in the eye and said:

$400 even.
 

Having done my own math, I questioned that number. Also got a little mad, but spoke very calmly.

They have screens with live spot quotes all around, and use Buying and Selling prices, like with the currencies. At the time Buying price in CAD$ was $34.52.*

I showed her my logic on the calculator. Including their commission, my net came to $436, but she couldn’t let me have it and rounded down to $430. If it was a bigger amount, I would’ve questioned it, but ok… whatever.

The answer: $430.

5-12% of silver is lost during smelting so I figure they made about $70-120 on this transaction.

* Selling price was around $38.40.

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• sterling silver rings and settings, 312g
• sterling wire scrap from my heady days of jewelry making, 101g
• sterling jewelry with inset enamel, 104g

Total weight – approximately 517g

I really didn’t have to break it up like this. You might have to do it if you take your metal to one of the trading/middleman places.

But I went directly to a refinery. They melt everything together, to avoid checking each piece individually and then they measure the purity of this combined bar.

My stuff being weighed

Without plastic bags and a couple of magnetic pieces, total weight came to 511g. After melting, I got a 501g bar with 93.52% purity (higher than sterling because I had some 99% wire in there).

Pouring my bar. The whole melting process took 3-5 minutes at most.

How much $$$ do you think I should’ve gotten? Answer tomorrow!

Precious Metals Spot Prices

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And check out the lines I drew. Price is in an uptrending channel, and has room to run.

I won’t be making any claims as to the extent of the up move in precious metals. Just watching the currency policies in the U.S. and reserve the right to change my opinion at any time.

In the chart: $USD US Dollar index, GLD gold ETF. Black line is GLD.
Click to enlarge

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$SPX is candles, U.S. dollar is the black line. Not always perfectly correlated, but clearly that’s the game for now.

The post $SPX / $USD 3-Year Weekly Chart appeared first on Phantasmix.com.

And I noticed things go out of stock a lot faster (credit issues? other reasons for stocking less?), which means the prices go up quite often. It’s been happening for at least 18 months now.

Food inflation is rampant, despite the fact that the Canadian dollar is doing really well.

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U.S. Dollar

(see, pretty blunt)

Very short term but still, possible falling wedge — a bullish reversal pattern — is developing on the U.S. dollar chart. Imo dollar going up won’t necessarily hurt gold because in the last couple of weeks both gold and the dollar were advancing at the same time, at least a few times.

Click to enlarge

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I looked at this chart on June 22nd. I wasn’t sure if the pattern that was building was bullish or bearish. It didn’t exactly break out, there’s now an extension to that ‘whatever-it-was’.

And I’m now leaning towards it being a bull flag (= falling wedge).

Dollar daily cycle low is due any day now. Today is day 20 of the daily cycle that usually lasts between 18-28 days according to The Smart Money Tracker.

If current dollar-market relationship doesn’t change, then U.S. dollar going up would be bearish for the market.

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Source: Times Online

Japan Considering Taxing Cash; “Nominal Rates of -4% Might be Closer to What is Required to Rescue the Economy from Another Deflationary Spiral”

Unorthodox, untried and, said one Bank of Tokyo Mitsubishi strategist, “in the realms of economic science fiction”, the recommendation has nevertheless begun floating around Tokyo’s corridors of power and economists have described Japan as particularly suitable as a testing ground.

I don’t know why they say it’s unorthodox and never tried before. Sweden has done it before, albeit in a slightly different form.

Edited to add: “Apart from France, within Europe, Greece, Norway, Switzerland, the Netherlands and Liechtenstein impose a wealth tax, although often with lower rates and higher thresholds of imposition than in France “

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