The “financial press” demonstrates the lengths at which the cartel will go to downplay and divert attention away from gold. Irma is still a hurricane destroying lives and property, but for anybody interested in gold, well, it doesn’t matter. Even if CNN & Fox want to glamorize the destruction…

As if Irma was a whole lotta meh.

And since when is gold a “risk asset”?

We’re not so sure, but whatever floats your boat:

From Investing

Gold prices fell in Asia on Monday with risk assets taking a breather as Hurricane Irma is downgraded in intensity and an possible ICBM test by North Korea at the weekend failed to materialize.

Hurricane Irma knocked out power to more than 2.4 million homes and businesses in Florida on Sunday, threatening millions more as it crept up the state’s west coast, and full restoration of service will take weeks, local electric utilities said.

But after Hurricane Irma hit Florida on Sunday morning as a dangerous Category 4 storm, the second highest level on the five-step Saffir-Simpson scale, it weakened to a Category 2 with maximum sustained winds of 110 miles per hour (177 kph).

Yet despite the gold hate, they slip in something we have been saying for a while now:

Copper had a bad day, down over 3%. Crude was also down over 3%. Crude looks like it is forming a downward sloping bullish wedge on the chart, but crude has been very choppy all year. Copper, however, we need to keep our eyes on.

This merits repeating: The entire Internet is one huge spool of copper wire.

The high tech world we live in absolutely runs on copper. The world needs tons and tons of copper for our everyday lives. After Hurricane Harvey in Texas and Louisiana, and now Hurricane Irma staring down Miami, with Hurricane Jose in hot pursuit, it is not unreasonable to say there will be absolutely huge demand for copper once this hurricane season is over and the rebuilding begins.

Not to be outdone, Yahoo Finance is saying, and please sit down to get ready for it: If “Irma is not as they’re predicting” – the gold “trade” will violently unwind [to the downside].

Odd, however, because CNN would have you think this was Mother Nature herself bringing on a fury and rage like no other:

 

 

and Fox is not sugar coating it either:

 

 

Even Reuters is getting in on the “whipping” bandwagon, and adding some slamming to the mix:

 

 

And apparently, illegal immigrants are risking their lives in the high seas to illegally enter into the United States through Florida via the Atlantic Ocean:

Perhaps the market pundits won’t even cover the next natural diaster (Jose?) at the rate they’re going.

Just don’t anybody mention this (we’re sure they would immediately go into shock):

 

 

 

 

 

 

 

 

  1. Crazy… As I write this, stock futures are higher and the metals are lower.  I guess the economic impact of Irma is easily and quickly discounted.   But be aware…  Now that the water has broken, the contractions will begin.

  2. Nothing to do with the Hurricane.   It may surprise some financial commentators (and even readers) that there are countries outside the USA?   I know it’s hard to believe but it’s true…. oh and the Earth’s not flat.

    The reason Gold is down is because as soon as Gold starts to climb… even a little bit.. all of the gurus that regularly appear on KWN and Silver Doctors panic and want to get on the band wagon so they can say “I told you so”.

    Whenever KWN breathlessly announces “Whistle  blower out of London Andrew Maguire” then you know you are in for a load of gobbledegook pumping from the snake-oil salesman himself.   After that you just have to sit quietly and watch the price go down.

    The only thing they have going  for them is that sometimes purely by luck they are right.

    ps.   Sorry to say this but there are catastrophes happening regularly around the World and most of the time the USA general public (accept for a few knowledgeable souls) couldn’t give a monkey’s fart…. so don’t be surprised if the rest of the World finds a hurricane in Florida of little interest, especially where Gold is concerned.

  3. Maguire and King hope that we forget the pile of brown stuff also known as 250 tonnes of sovereign size orders. Ditto for Maguire’s February call of a commercial signal failure within 90 days, if not by the end of the second quarter, then later revised to some time in August. More brown stuff. The new tweaked narrative has a Goldman Sachs twist which will lift prices a little way up the road – it’s always within arm’s reach.  Maguire’s pushed false hope for year after year.

    If I was offered an even-money wager on a yes/no choice about whether he had his finger on the gold sell button at 18.00 EST yesterday I’d take the yes option.

  4. Yawn….obviously the BULL (shat) market in Trolls is still steaming ahead.   Any of you chumps see the close in China  at $1359?   But Butt of course the metals will crash.  Give me a break lots of stackers will eat up some more metal.  At church yesterday two regular and one newb had stacked in the last few days with plans to do more mid month…..Off take is strong.  Your starting to sound as desperate as the lame stream media

  5. We were one button push away from the “moon shot”…Nork’s and Irma = ???

    TBTB/Banksters/Soros et al have not moved over from short to long “enough” yet.

    But, with the “other moves” being made to deep-6 the USD, etc. there is a “rising tide” and many are figuring this out right now…

    So…there was a paper storm, actually looks like two storms, with some early nibbles overseas. This BS about “hack vs BC” demand appears to be another “cash/coin is bad” tune being played… Presto…there goes $$12-15 bucks off Au and around 30 cents or so on Ag. But, our shinny appears to be fighting back…our head is above water and continues to “push-back”… The “force” may be the dark side but we can still “shine the light” ahead. Check-6

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