Loading ...Gold & Silver From Here
My short term expectations for gold and silver have been met and in the case of silver, slightly exceeded. Other than haven taken very small profits around core positions I recommend sitting tight. We got the spike to my likely gold targets(both actually) of either the old high around 1923 and the round number of 2000. My silver target that I provided weeks ago was 22-23 and said if exceeded could go to 27.50-30. Since the original target was exceeded the 27.50-30 is my new target. I believe anything is possible after today’s FED meeting. One should stay long and HOPE there is a pullback to add to positions. Below 1900, possibly 1850 would be a great place to add gold and core gold miner positions.(need to check specific charts) Silver between 21-22 would also be where I would look to add.
Thanks Chartsmaster
I am with you…MUST keep a position.
trading around it is just for show and for those who need to micro manage…but
Prices on many charts FINALLY inside the BB & heading towards the middle where I set a 8 EMA-seems like prices always touches at least this point even in a huge move
Now that the ATH in gold has been breached it will be interesting to see how the 1978 ATH parallels phase I from the early 1970’s. So far right on cue – miners are selling off while gold continues it’s rise. Miner gains from here to $2k gold aren’t likely to be spectacular if there is no meaningful pullback in the metal.
7-23-20
https://goldtadise.com/?p=470511
To paraphrase Patrick, part of the beauty of watching the PM sector charts is the pure emotion involved.
XYZ, It is good to use past historical price action for context and perspective, I do it all the time. However, don’t be surprised if in gold and silver THIS TIME IS DIFFERENT (the dreaded words no one is supposed to utter). Two reasons, first the FED has never printed this level of phony fiat dollars all at once(rest of the worlds central banks as well) and second and MUCH MORE IMPORTANTLY, the gold and silver markets have been suppressed for close to 50 years with the fraudulent paper COMEX contracts. It may not be over but it seems to be reduced. They will probably use it to create selloffs to keep thinga from exploding higher but you probably can’t hold it back a little, like being a little pregnant.
Thx CM, another factor to throw a curve is the time between the current phase I>II – new $ (millennial) memory influence is different since 2013 when in the 70’s it was only a couple years gap – ie. same set of investors + $ printing + suppression as you say.