Goldtent TA Paradise

Gold $1825 magnet

1. JSKauai says:

   May 5, 2022 - 1:08 pm at 1:08 pm

   yup, 200 dma and rising trend line. If that is broken to the downside look out below. Gold will fall except the premiums you will have to pay for physical will rise…LOL

2. Nautilus says:

   May 5, 2022 - 1:23 pm at 1:23 pm

   Other than a technical bounce, why should gold rally?

   Why are gold and silver refusing to call the Fed’s bluff, when it looks like the broader commodity complex (GCC) actually is?

   Silver has been one of the worst performing assets on just about any timeframe. The only time to ever buy it is after a liquidity crisis and the Fed announces QE. Then it will spike straight up for a few months and then spend the next 2-10 years trending downwards.

   I mean HYG has smashed silver for the last decade. Save for a 6 month window after the covid crash, and its would still be smoking silver. It’s actually been trending higher vs silver for the last 2 years.

   It’s beyond a joke at this point. Silver is objectively trash. The market has spoken and continues to speak.

   Ok rant over.

3. Plunger says:

   May 5, 2022 - 1:25 pm at 1:25 pm

   The Bullion Bank suppression scheme has spoken at least.

   • Nautilus says:

     May 5, 2022 - 1:31 pm at 1:31 pm

     I didn’t want to believe it, but when you look at GCC vs gold or silver, what conclusion can you draw?

     GCC has actually been ripping higher ALONG with bond yields for a year. GCC is actually closer to its 2011 peak than silver now. WTAF?

4. Gold Learner says:

   May 5, 2022 - 1:27 pm at 1:27 pm

   Sir Plunger,

   Stewart Thomson also mentioned 1835 in his last two posts. Maybe intraday spike low to 1775 too, who knows!

   http://www.321gold.com/editorials/thomson_s/thomson_s_050322.html
   http://www.321gold.com/editorials/thomson_s/thomson_s_042622.html

   I’m ready, for the first time in many months, to redeploy some more cash to the miners.
   The last few months I have only been rotating mostly long term profits to attractive juniors. Not added a single penny, while ringing the cash register on ANXGF, AZASF, BKRRF and MGMLF, just to name a few. Therefore saved myself a lot of grief, as more of my hard earned unrealized profits would have gone waste had I not sold into strength.

   The issue however is that the spike low time window may be very short … somewhere like S&P going to 3900 and Fed “considering changing stance on further rate hikes” … now that would be a catalyst for gold.

   Always willing to learn more from the great Sir Plunger.

   Many many thanks for educating this young blooded rash gold bug 😉

   GL

   • Plunger says:

     May 5, 2022 - 1:31 pm at 1:31 pm

     Personally I am going to limit my PM stock exposure to principally GDX until we can identify an observable washout low. I suspect it comes in the fall or late summer. I want to be able to exit in a second with a market order. Tired of getting nicked by these BMR flameouts of the past 2 years.

     • Nautilus says:

       May 5, 2022 - 1:37 pm at 1:37 pm

       GDX could technically bounce here, but do you honestly and realistically see it making a higher high until the Fed expressly relents on tightening? I don’t.

       It’s an absolute joke and crime how beholden the markets are to the Fed’s BS. Don’t fight the Fed. And don’t try to do it with silver or silver miners for god’s sake.

       • Plunger says:

         May 5, 2022 - 1:39 pm at 1:39 pm

         I totally agree with you. So sick of every podcast is all about FED FED FED

         But when they do relent I would think there will be a blast off of sorts, but of course you know there will also be an active suppression campaign deployed at the time.

   • Nautilus says:

     May 5, 2022 - 1:48 pm at 1:48 pm

     It’s a mug’s game. When and if the Fed does relent, I’ll bet that gold will have already formed a technical bottom maybe a month prior. Then, once you get the actual announcement gold will get a short spike followed by months of backing and filling. Whatever. The Fed wins, and continues to win like they always do.

     • Plunger says:

       May 5, 2022 - 1:49 pm at 1:49 pm

       You’re right as they make the rules and control the money supply… You can do a lot in this position.

5. Nautilus says:

   May 5, 2022 - 1:42 pm at 1:42 pm

   GDXJ probably headed all the way back to $37. Then you can ride it up as it forms a right shoulder to a large H&S pattern.

   This whole godforsaken sector is going down with the ship.

   • Plunger says:

     May 5, 2022 - 1:46 pm at 1:46 pm

     For over a year now I have held that the sector is in a bear market of sorts and wont be over until we fill the GDX 26 gap. But I’m not being dogmatic about it, I’ll bend with the wind. In the mean time I will trade opportunities as they come along, but the big be right-sit tight bull is still out there in front of us somewhere.

6. Highroller says:

   May 5, 2022 - 1:57 pm at 1:57 pm

   A glimmer of hope that I see is good volume on the last drop with gldm. ( GLD mini ) maybe she ride the blue.
   https://www.tradingview.com/x/DPWvCFde/
   https://www.tradingview.com/x/pzcE9NnG/

   • Plunger says:

     May 5, 2022 - 2:03 pm at 2:03 pm

     Pretty thin reed.

7. Nautilus says:

   May 5, 2022 - 2:03 pm at 2:03 pm

   GCC is actually getting ready to pop higher. I think it will pop up with the ten year yield, but I do believe a top in GCC is coming very soon (within the next 2-3 months would be my guess). I think it will have to cool off for at least a year going sideways after that to let the moving averages catch up to price.

   GCC is doing what silver and the miners should be doing, but aren’t.