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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: bull_dozer who wrote (190712)	8/8/2022 12:21:10 AM
From: TobagoJack	Respond to of 217547

First up bloomberg.com World Series of Poker Player Charged With Spoofing Gold Market Daniel Shak placed gold, silver orders with intent to cancel Shak has competed in over 150 major poker tournament events Joe Deaux 6 August 2022, 04:41 GMT+8 Dan Shak Photographer: Slaven Vlasic/Getty ImagesA Nevada metals trader with a side gig on the world poker circuit was charged Friday with manipulating gold and silver markets using a technique called spoofing. The Commodity Futures Trading Commission alleges that Daniel Shak, who also runs a small hedge fund, repeatedly placed orders for gold and silver futures contracts with the intent to cancel the bids or offers before execution. Called spoofing, the practice gained notoriety following a high-profile criminal caseinvolving several JPMorgan Chase & Co. bankers. “These charges demonstrate once again that the CFTC will vigorously prosecute to the fullest extent of the law, misconduct that has the potential to undermine the integrity of our markets,” Gretchen Lowe, the CFTC’s acting division of enforcement director, said in a statement. The announcement comes as jurors in Chicago continued a fifth full day of deliberations in the massive JPMorgan spoofing case, in which three former bankers are accused of running a criminal enterprise and conspiring to commit price manipulation, wire fraud, commodities fraud and spoofing on precious metals futures markets. Shak already has a history with the CFTC, having settled with the agency in March 2015 over claims that he traded during the closing minute of the gold futures market after being ordered not to. Shak, who is the founder of SHK Management LLC, is better known for competing in more than 150 major poker tournament events in which he earned more than $11.7 million going back to 2004. Precious metals investors may also remember Shak from more than a decade ago when the Wall Street Journal reported that his hedge fund roiled the gold market after it had made bad bets, forcing him to liquidate the position and return money to clients. Shak at the time held gold contracts worth more than 10% of the U.S. futures market.

To: bull_dozer who wrote (190712)	8/8/2022 2:03:46 AM
From: bull_dozer	Respond to of 217547

Gold miners are almost paying more dividends than utility stocks for the first time in the history of the data. pic.twitter.com/ArmIdGaRIx — Otavio (Tavi) Costa (@TaviCosta) August 6, 2022

To: bull_dozer who wrote (190712)	8/8/2022 9:04:56 PM
From: TobagoJack	Read Replies (1) \| Respond to of 217547

Re <<gold, silver and miners>> bloomberg.com Worst-Performing Precious Metal Silver May Have Seen Bottom Prices could turn higher from later this year, HSBC says Recovery in gold needed for silver to outperform, UBS says Ranjeetha Pakiam 9 August 2022, 08:42 GMT+8 Silver’s been the worst-performer among major precious metals in 2022, but prices may have fallen far enough to spark a modest recovery. The white metal has lost about 11%, weighed down by the stronger US dollar, rising interest rates and slowing growth. But prices could turn higher from later this year as the electronics and photovoltaics sectors support industrial consumption, while retail and jewelry demand look strong, James Steel, chief precious metals analyst at HSBC Securities USA Inc., said in a note early this month. “We believe silver is oversold,” Steel said. “Much of silver’s industrial demand will be well supported and will not reflect overall industrial sluggishness,” while price declines will stimulate demand from key consumers China and India, he said. Still, headwinds to the white metal’s rally exist as the world braces for the withdrawal of stimulus and an economic downturn. While HSBC remains positive, it has cut its forecasts as silver follows gold and copper lower. The bank now sees the average price at $22.25 an ounce for 2022 and at $23.50 for 2023. UBS Group AG expects silver to trade lower to $19 by early 2023. Silver was trading at $20.67 an ounce by 8:37 a.m. in Shanghai, after bouncing back from a two-year low in mid-July. Silver’s trajectory will closely follow gold, and investors should consider buying both metals when the Fed makes a proper dovish pivot and there’s meaningful easing of policy to support growth, said Wayne Gordon, executive director for commodities and FX at UBS Group’s global wealth management unit. “Once we get to that recovery phase in gold, we believe silver can really outperform the yellow metal,” said Gordon. Gold was little changed at $1,789.42 an ounce, with the dollar steady as traders await a key report on US consumer inflation due Wednesday. Palladium fell and platinum edged higher.