Loading ...Toilet Flush
The old fashioned toilet flush isn’t occurring in stocks (yet) but it sure is in gold and silver. For this first day of July and of the second half of the year, the prices this morning means, either gold and silver are worthless chunks of useless metal, or they will be between 50-100% higher on January 1st, 2023. Place your bets, ladies and gentlemen, place your bets.
What can I say, I believe in he metals in the long run (I have to at this point lol). But other than gold bullion, it’s been a total bust for me over the last 22 years.
Maybe the bottom is close in time (days?) or maybe not. With all of the garbage that has gone on since 2008 I would have figured gold would be $10,000+ by now. Go figure. The fact that semiconductor stocks are a stones throw away from making new highs against silver stocks after smashing the miners for 10 years already says it all.
But Goldman promised $2,500 by December
I am glad you mentioned that, Sir Plunger. When I saw that posted either late Wed. or early Thurs. I knew we were looking at trouble. Whenever, Goldman makes a price prediction, even if they are ultimately correct in the longer term, it is almost always wrong(goes sharply the other way) in the short term.
Well said, Sir Nautilus. I agree.
Miners are trades, period.
(But only if for those who can actually read the charts.)
And the metals are insurance, held in hand.
Despite gold being “fear insurance”, wealth protection and all of the roles it has played for thousands of years, does anyone believe that without the distortions from the banks manipulations, that a gold to silver ratio of 90-1 is reasonable and appropriate given history and the approx. 15-1 ratio of silver to gold in the earth’s crust?
Looks like the 50 WMA turning down across the PM sector last year was a clear signal to get out after all.
Don’t fight the Fed.
What happened to fast and furious? no acknowledgement
Go back and read it and the previous comments pertaining to it. It wasn’t a one day prediction, and this day is only an hour in as far as the Comex is concerned. While I didn’t call for this washout, I have been saying that the upside breakout for gold which is where I used the “fast and furious” description for the move I see playing out wasn’t going to START UNTIL the first half was over. It is only the first hour of the first day of July! Talk about instant gratification and short attention spans.
“the prices this morning means, either gold and silver are worthless chunks of useless metal, or they will be between 50-100% higher on January 1st, 2023.”
Is this REALLY how you expect US to think?
Either they are zero’s, or doubles from here?
Methinks there’s a serious lack of intellectual integrity on display here.
If you are that clueless that you don’t understand when someone is making a point(wait, you have proven that over two years of being a troll) you don’t qualify for serious discussion about integrity. You are the only person on this site who attacks peoples motivations and integrity. Stick to challenging opinions on the markets. I have no problem with that. Your lack of integrity comes thru everytime you attack someone elses.
That investor bought those maple leafs you said are always a good time to own.
Yes good if he or she did. So possibly down 1% from what was paid is a problem how? You don’t buy physical for a one or two day trade. Let’s see how that person feels when July is in the history books.
I went back and read it, here is what I found. “The gold price should pause for a day or two at those levels but any surprises should come on the upside”. Can I ask how you come to these conclusions with no chart evidence in your posts, ever? – I understand you have been investings for all these years, and respect that, but don’t you think some technical analysis other than blank charts is necessary?
Those were based on the charts. We all can view the gold chart. I don’t need to post a chart of something that everyone else can see for themselves. I give my opinions of what those charts indicate for the future. And to clarify the line you quoted, that was specifically referring to when gold reaches the area on the chart where the 50 day and the 200 day averages are about to meet. I spelled it out quite clearly. That one to two day count begins when gold reaches the mvg. averages. Granted that may be delayed because of the big drop first, but I didn’t put a specific day on when that would occur just a pause when it gets there.
“We all can view the gold chart. I don’t need to post a chart of something that everyone else can see for themselves. I give my opinions of what those charts indicate for the future.”
NOT AT ALL CORRECT. All you have to do is look around the web at how folks chart (for gold or anything), and see that there are countless ways to slice and dice the charts. And USUALLY, its from those ANALYTICS on the charts that people draw their inferences. Typically you don’t NEED anyone to tell you what their “opinion” is, because the chart “SPEAKS” for itself. If it doesn’t, then you either are not charting it well, or you speak a different chart language than others. In the latter case, you have to spell it out but then someone SHOULD be able to follow your REASONING that is chart based, not narrative driven. As someone who has been investing for decades, I can tell you that narratives are misguided at best. They are yesterday’s news.
That’s your opinion and your problem. Not everyone uses the charts the way you do. There are hundreds, if not thousands of chartists who post charts, write newsletters etc. on the same things. Stock market, gold etc. It is all the same chart it is the interpretations and results that matter not someone’s method. I care about the bottom line. I make many calls. Some are spot on, some are wrong. One can maximize how they trade using the correct ones and use risk management to prevent the wrong ones from making a large dent. Everyone has their own method for doing so. I don’t tell anyone else how they should chart or trade. Stop telling me about how I chart. If you think my trade suggestions are worth reading and sometimes take a trade fine. If you don’t then don’t and I am fine with that as well!
You’ve got to respect the H&S in GDX now. It projects down to about $19-20. Could we rebound to test the neckline at any moment? Sure, but it will just be another shorting opportunity until proven otherwise.
This bull market has been impossible to trade in anything but gold IMO.
If oil can go less than $0 to $130 in 2 years, absolutely anything is possible. It literally shows you that in the short run, price is absolutely meaningless. The bankers can literally take it anywhere they want.
Plus 1 ! Had a deep look at monthly charts and room to drop. Rambus backs this up with jaw dropping charts too. Awaiting share dilution and higher financing, if they can get it while they are in the dumpster is the other question.
To think, you could have bought silver at its peak in 2016 and you would only be dead even today.
If you would have bought the SOXX though, you would still be up about 4X.
I’m guessing that at some point in the next 20 years silver will have its moment where it shoots up 10-20x, but anyone who thought they could beat the stock market, much less inflation, investing in silver since 2016 has got be feeling like a garbage right about now. It’s will remain a terrible investment until it isn’t.
In the meantime, gold will continue to hold its own.
Could Silver be dropping because the “Green” Revolution is Done ( batteries / solar panels )
I don’t know about that. Silver has failed to make a new high in over 40 years the same can’t be said about Gold. More interested in Gold. Who knows how far Silver can drop if this back test of the breakout around $19 fails?
I think silver is dropping in sympathy with the broader commodity complex (GCC), which has dropped 20% in the last few weeks.
GCC is very close to tagging its 200 dma/50WMA now. I am anticipating a decent rebound off of that level. It’s possible silver will rebound with it.
if the metals lead gold, will gold drop now ???