CPM: Money-market (Day 697)
Day 697, 18:58
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Published in Canada 
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by
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by Addy Lawrence
A little background on this report. Each day (when my computer is working) at around 7:00pm EST, I go to the money market and log all of the offers of CA$ for gold. I also log all of the offers of gold for CA$. I then compare the two and to previous reports. Note that most activity occurs BELOW these price points as these are the offers that have NOT been taken yet. I throw out the retarded offers as they skew the results.
Day 697
Please note that I am running for congress on October 25th. I have requested to run in Alberta and I am awaiting the CPF's approval of that, I may be running in another province as I have offered to do that. Please consider voting for me on October 25th, here is my campaign presentation, please consider voting for a CPF candidate.
International Market
The pool of CA$ offers on the market amounted to $20,135.35, up $1,821.12 or 9.9% from yesterday's $18,314.23. The size of these pools is below the average of $22k, I surmise cash is being deployed in the war effort.
On average, these offers are seeking 0.0301 gold per CA$1.00 which is even with yesterday. The eCanadian government approved an issue of CA$40,000 two days ago. This should put additional downward pressure on the value of the CA$1.00.
The eCanadian government approvals made during the life of this study are as follows:
Day 695 = CA$40,000.00, trading @ 0.0302 / 0.0291
Day 684 = CA$40,000.00, trading @ 0.0314 / 0.0287
Day 682 = CA$04,000.00, trading @ 0.0324 / 0.0288
Day 671 = CA$40,000.00, trading @ 0.0291 / 0.0277
Day 663 = CA$30,000.00, trading @ 0.0302 / 0.0283
I'm currently recommending to hold your positions in gold and CA$ as arbitrage remains tight.
Local Market
The offers of gold totaled 110.33, down 59.91 or 35.2% from yesterday's 170.24. The CA$ sought in return for offers of gold averaged $34.248, down by $0.001 or 0.0% from $34.247. A pool of offers of 110 is quite low.
The holders of gold have been firm in the $34.3 to $34.7 range for nearly two weeks, this is definitely a sticky point.
The cheapest offer for 1 gold was CA$34.180.
Arbitrage
Arbitrage represents the opportunity to make money via trading currencies. The opportunity exists if you can find another currency which trades with CA$ or gold, depending on what you are holding, between these two sums. The trick is to find it. If I find one, I'll publish it however they are tough to find and don't last long.
The implied rate on the local market is 0.0292 gold per CA$, calculated as 1G/CA$34.248; this is an all-time high for this study and has been stuck here for 10 days. The international rate is 0.0301. The arbitrage, or spread between the two, is 0.0009; this is tight and bodes for low volumes of opportunity, and by association trading. This is as tight as I've seen it during this study. I've seen this cycle once in the past and after a bottoming out, a rapid increase ensues and a 2 to 3 day window of profitability opens up. Be ready, its coming, the low volume of gold offers bodes for it to loosen up soon!!!
Who's your Daddy? Addy's your daddy!!!
Day 697
Please note that I am running for congress on October 25th. I have requested to run in Alberta and I am awaiting the CPF's approval of that, I may be running in another province as I have offered to do that. Please consider voting for me on October 25th, here is my campaign presentation, please consider voting for a CPF candidate.
International Market
The pool of CA$ offers on the market amounted to $20,135.35, up $1,821.12 or 9.9% from yesterday's $18,314.23. The size of these pools is below the average of $22k, I surmise cash is being deployed in the war effort.
On average, these offers are seeking 0.0301 gold per CA$1.00 which is even with yesterday. The eCanadian government approved an issue of CA$40,000 two days ago. This should put additional downward pressure on the value of the CA$1.00.
The eCanadian government approvals made during the life of this study are as follows:
Day 695 = CA$40,000.00, trading @ 0.0302 / 0.0291
Day 684 = CA$40,000.00, trading @ 0.0314 / 0.0287
Day 682 = CA$04,000.00, trading @ 0.0324 / 0.0288
Day 671 = CA$40,000.00, trading @ 0.0291 / 0.0277
Day 663 = CA$30,000.00, trading @ 0.0302 / 0.0283
I'm currently recommending to hold your positions in gold and CA$ as arbitrage remains tight.
Local Market
The offers of gold totaled 110.33, down 59.91 or 35.2% from yesterday's 170.24. The CA$ sought in return for offers of gold averaged $34.248, down by $0.001 or 0.0% from $34.247. A pool of offers of 110 is quite low.
The holders of gold have been firm in the $34.3 to $34.7 range for nearly two weeks, this is definitely a sticky point.
The cheapest offer for 1 gold was CA$34.180.
Arbitrage
Arbitrage represents the opportunity to make money via trading currencies. The opportunity exists if you can find another currency which trades with CA$ or gold, depending on what you are holding, between these two sums. The trick is to find it. If I find one, I'll publish it however they are tough to find and don't last long.
The implied rate on the local market is 0.0292 gold per CA$, calculated as 1G/CA$34.248; this is an all-time high for this study and has been stuck here for 10 days. The international rate is 0.0301. The arbitrage, or spread between the two, is 0.0009; this is tight and bodes for low volumes of opportunity, and by association trading. This is as tight as I've seen it during this study. I've seen this cycle once in the past and after a bottoming out, a rapid increase ensues and a 2 to 3 day window of profitability opens up. Be ready, its coming, the low volume of gold offers bodes for it to loosen up soon!!!
Who's your Daddy? Addy's your daddy!!!
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Comments
This is an amazing report, however I fail to see the importance of pools.
I don't mean to be deliberately pedantic but don't you think that the bugs that occasionally appear when attempting to purchase currency for gold (the one that when you swap the places in order to buy currency, the bug immediately swaps the positions back so you can't) have an effect on the currency market? Isn't it much more practical to hoard gold when bugs in the game occasionally prevent you from buying currency at all?