CPM: Money-market (Day 671)
Day 671, 18:57
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Published in Canada 
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by
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by Addy Lawrence
Day 671
A gentle reminder, look for me on your Congressional ballots this month, I'm running in Newfoundland under the banner of Canadian Progressive Front. Please consider voting for me and PLEASE VOTE PERIOD!!!
Note that today's report compares to Day 667 as opposed to yesterday.
International Market
There is a huge run of CA$ offers on the market today, running all the way to $37,020.79, up $11,030.69 or or 42.4% from Day 667's $25,990.10. This is an average gain of $2,757.50 over the four day stretch.
On average, these offers are seeking 0.0291 gold per CA$1.00 which is down 1.7% from Day 667's 0.0291 gold. This is the lowest rate observed since I commenced the study.
The eCanadian government approved the issue of CA$30,000.00 on Day 663 (eight days ago) and it appears to be reaching its zenith in offers. The CA$ was trading at .302 gold at the time of the approval.
If you are holding Canadian, I recommend to move to gold as CA$ appears headed for a drop. I surmise the saturation point is approaching, not sure how many days into the future it is though.
Local Market
The offers of gold totaled 95.59 and was up 10.35, or 12.3%, over Day 667's 86.24 gold. The CA$ sought in return averaged $36.066, down slightly by $0.185 or 0.5% from Day 667's $36.251.
The gold available to holders of CA$ is up slightly, likely due to investors looking to take advantage of an abundance of CA$ pushing up the price of gold. With the recent issue of money by the Canadian government (30,000 on Day 663), there is proportionately more CA$ available than gold so look for the gold offers to be gobbled up quickly, or rise in price.
The cheapest offer for 1 gold was CA$35.738.
Arbitrage
Arbitrage represents the opportunity to make money via trading currencies. The opportunity exists if you can find another currency which trades with CA$ 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 0.0277 gold per CA$, calculated as 1G/CA$36.066. The international rate is 0.0291. The arbitrage, or spread between the two, is 0.0014. Today's spread is tighter than the previously reported 0.0020 which is likely why we see a growth in the number of offers (it is tougher for gold holders to find a third instrument withing that spread).
Who's your daddy? Addy's your daddy!!
A gentle reminder, look for me on your Congressional ballots this month, I'm running in Newfoundland under the banner of Canadian Progressive Front. Please consider voting for me and PLEASE VOTE PERIOD!!!
Note that today's report compares to Day 667 as opposed to yesterday.
International Market
There is a huge run of CA$ offers on the market today, running all the way to $37,020.79, up $11,030.69 or or 42.4% from Day 667's $25,990.10. This is an average gain of $2,757.50 over the four day stretch.
On average, these offers are seeking 0.0291 gold per CA$1.00 which is down 1.7% from Day 667's 0.0291 gold. This is the lowest rate observed since I commenced the study.
The eCanadian government approved the issue of CA$30,000.00 on Day 663 (eight days ago) and it appears to be reaching its zenith in offers. The CA$ was trading at .302 gold at the time of the approval.
If you are holding Canadian, I recommend to move to gold as CA$ appears headed for a drop. I surmise the saturation point is approaching, not sure how many days into the future it is though.
Local Market
The offers of gold totaled 95.59 and was up 10.35, or 12.3%, over Day 667's 86.24 gold. The CA$ sought in return averaged $36.066, down slightly by $0.185 or 0.5% from Day 667's $36.251.
The gold available to holders of CA$ is up slightly, likely due to investors looking to take advantage of an abundance of CA$ pushing up the price of gold. With the recent issue of money by the Canadian government (30,000 on Day 663), there is proportionately more CA$ available than gold so look for the gold offers to be gobbled up quickly, or rise in price.
The cheapest offer for 1 gold was CA$35.738.
Arbitrage
Arbitrage represents the opportunity to make money via trading currencies. The opportunity exists if you can find another currency which trades with CA$ 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 0.0277 gold per CA$, calculated as 1G/CA$36.066. The international rate is 0.0291. The arbitrage, or spread between the two, is 0.0014. Today's spread is tighter than the previously reported 0.0020 which is likely why we see a growth in the number of offers (it is tougher for gold holders to find a third instrument withing that spread).
Who's your daddy? Addy's your daddy!!
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Comments
Panda runs to make more money off the MM 😃
F-U people who possess pandas. Keep them to yourself and quit ruining our economay and intarnetz.
Oh, and http://www.fupenguin.com/2008/11/panda-accomplices-fully-liable.html" target="_blank">http://www.fupenguin.com/2008/11/panda-a[..].html