View this week’s chart comparisons of gold against fiat currencies, oil and the Dow for the Money & Markets segment of The Solari Report next Thursday, May 7, 2009.
Click here to view all charts as a pdf file.
Previous Money & Markets blog posts: Apr 23, Apr 16, Apr 9, Apr 2, Mar 27, Mar 12.
Currency charts are from Kitco.com, all others are from StockCharts.com.
Gold vs Oil
Gold vs DOW
Baltic Dry Index
Gold vs Continuous Contract
Swiss Franc
Japanese Yen
Russian Ruble
Canadian Dollar
Australian Dollar
Euro
British Pound
Click here to view all charts as a pdf file.
Harral:
Great post. Thanks!
Catherine
From Jesse’s crossroads cafe, http://jessescrossroadscafe.blogspot.com/
Scroll down to Silver first notice day,
Comex May silver Open Interest as of yesterday’s close was 4365. I don’t think this includes the old CME contract, which is the NYSE Liffe contract, so this number ultimately may be low.
These 4365 contracts equate to 21.8 million ounces, or 33% of the amount of silver on the Comex that is registered for delivery. Not enough to do real damage to the Comex inventory, but probably enough raise some eyebrows around the world. I am absolutely convinced that part of this week’s pure paper attack on silver was designed to discourage longs from taking delivery.”
The silver market has been manipulated for some time now based on what we have seen. Interestingly enough one of the principle players had been the London crew of AIG, who apparently had to find a new routine when AIG exited that trade a few years ago. What was an insurance company doing as a major trading player in the metals markets? Because they had not yet discovered the benefits of selling increasingly worthless derivatives.
If this is true, if these markets are being used in this way, then we should see increasing shortages of the physical products until the exchange delivery mechanism is broken, and the contracts force settled in cash, with defaults in funds galore.
The investigation into the metals and energy markets by the CFTC and other government agencies makes the SEC appear to have the wisdom and integrity of Solomon.