First it was gold last week, then it was half of Nasdaq on July 4th, and now it's silver that is taking it's turn in the 'glitch' camp. As Japanese markets opened tonight, spot silver prices crashed around 6% in a few seconds only to instantly rip back higher...
It appears someone was in a hurry to dump over $450 million worth of silver futures...
For some inexplicable reason, Ray Dalio still thinks the the world not only underwent a deleveraging, but that it was "beautiful." Not only did McKinsey prove that to be completely false two years ago, but for good measure the IIF confirmed as much last week, when it revealed that global debt has hit a record $217 trillion, or 327% of GDP...
... while Citi's Matt King showed that with no demand for credit in the private sector, central banks had no choice but to inject trillions to keep risk prices from collapsing.
It has been a tough month for gold, tumbling over 6% from its early June $1300 highs, but options traders are now positioning for a rebound.
As Bloomberg notes, the cost of bearish over bullish contracts in the $33 billion SPDR Gold Shares exchange-traded fund has dropped to the lowest level since U.S. President Donald Trump’s election.
The precious metal slumped for the fifth time in six days today, with bullion for immediate delivery selling near the lowest price in two months.
It appears a trend is taking shape. Following a former Goldman HFT trader's massive initial coin offering, another Wall Street-er has come to the dark side of virtual currencies. A former senior manager at consulting firm Bain & Company, is launching a Bitcoin fund, providing access to the cryptocurrency to some of the wealthiest families in Latin America.
Authored by Lance Roberts via RealInvestmentAdvice.com,
Over the years, I have regularly addressed the psychological and emotional pitfalls which ultimately lead individual investors to poor outcomes. The internet is regularly littered with a stream of articles promoting the ideas of “dollar cost averaging,” “buy and hold” investing, and “passive indexing” as the solution to achieving your financial dreams.