Loading ...SILVER
Charstmaster I like your enthusiasm BUT there is ZERO evidence on the actual Silver CHART that the Bottom is IN nor that we are about to see a big upward move.
Speculation is one thing BUT speculation without any chart evidence is another
Just being frank here . There is NOTHING inspiring in these Charts
Au contraire. As I said after bottoming in Oct. and topping in Dec. silver has been basing for 3 months. Basically sideways for 5 months. By tomorrow’s close we should see the beginning of the breakout and confirmation of whether I am correct or not will show up next week. Upward march in March.
Lower timeframes are supportive, higher ones are not.
Ie, potential for a tradeable dead cat.
Said poster should be renamed pied piper of goldtent.
Check back on Monday. Since one needs to place the trade in the short term to reach the longer term you actually have to take a stand rather than postulate about all the possibilities as the commenter always does.
Nonetheless It remains these charts do not indicate any breakout in either direction. The are the epitome of BLAH !
IMHO
I am always “UP” for a breakout in Silver though. I have so much of the damn stuff I get a hernia just thinking about moving it to a new location
I took a FIRM stand on the complex in the autumn of 2020 with a post and several followup comments here.
And my outlook hasn’t changed.
Windows of opportunity do appear now and then, but none have confirmed.
By contrast, our one note pied piper came along just weeks later (Dec/Jan 21) and encouraged folks here to buy and hold Strikepoint for fun and leverage. Along with another half dozen prospects. They’ve all been cut in half or worse.
I’m not a technical analyst. I find the different perspectives interesting and amusing. I can’t get emotionally attached to it personally.
If you zoom out in time and look at the chart it looks like a coiled spring to me. HaHaHa! It could go either way. One day the dam will break and the pattern will change.
With inflation, depletion, low inventories, and supply/demand projections it is reasonable to think prices should move up. Most base metals prices are depressed too, so byproduct sources may be reduced. War and geopolitical risks add additional upside indications and challenges.
However, we can’t ignore the possibility of a debt collapse and extended depression, nuclear war and imminent, abrupt Deagle-like demographic and population shifts. Apocalypse now. In this case, the price may move down.
In the event of “the great taking”, silver in hand will probably be worth more in terms of goods and services than it is today. A derivative system collapse seems baked in.
You pays your money and you takes your chances.
If the silver stackers movement was to gain momentum with buyers being rewarded with higher prices the fed would be seen as losing control. In there lies why we are seeing the current price action.
Silver and Sugar are the only two commodities not to have posted higher highs than in 1980. Silver is cheap so it is a good story to sell but it has not performed well at all. Maybe somebody could explain what you will be able to do with Silver when the government takes even more control of everything. 44 years has shown Silver is not the place to be. So you buy a dog and pay a premium? Don’t know how that works.
1. Silver is the best for a real, circulating money substitute. Gold is the numeraire for reserves and relative valuation.
2. You could learn to be a silversmith, jeweler or befriend one.
3. Take it on a trip to India.
“Silver demand in India has seen a significant increase in recent years.5 According to Statista, demand for silver jewellery in India crossed 600 metric tonnes in 2021, with the big push happening during the festive season. Silver Institute, a marketing body funded by the silver industry, shows that global demand for silver rose to a record high of 1.112 billion ounces (340 million kg) in 2022.1 India imported 3,826.8 tonnes of silver in the first five months of FY20, showing a rise of 25.52 per cent.03 In 2022, the total demand for industrial silver in India amounted to approximately 42.6 million troy ounces, which was the largest demand volume for industrial purposes in India recorded during the period of consideration.2 Indian silver consumption is forecast to surge by around 80% to a record this year, as traders draw down inventories in warehouses from London to Hong Kong after two Covid-riddled years.”
The govt is not going to let you use Silver in this country. I am not saying that at some point and it might be very soon that you won’t be able to make money in the sector. I don’t plan on going to India and even if I did maybe you could tell me how you can get anything out of this country at this point.
Gold stocks are acting like gold is $500 oz. It’s crazy. I gave up on the sector after losing nearly everything. I just save now and put money into CDS and treasuries having left what little I had in stocks in a few miners. And even buying low, they’re still going lower as if gold has essentially become worthless to mine and only valuable to hold physical.
I’d be rich if I shorted miners for the last ten years. Haven’t really looked into what happened outside of losing everything, or if that’s true that shorting for ten years would have made me rich. just stating a gut assumption and how depressing the ride has been in the worst sector in the entire universe. Never again. Just a nice coin here and there, nothing else.
Gold has not kept up with inflation and to mine gold is now just too expensive due to inflation, so anyone holding mining stocks is screwed.
It’s hard not to be overly negative about the metal and miners at times like this. They have been absolutely terrible investments on just about any time frame over the last 20 years.
who would have thought that post 2020, regional banks would have been better investments than silver miners??? like WTAF?
Short of a complete collapse in the stock market and the Fed coming to the rescue, it’s hard to see any catalyst for the metals and miners. We’ve already seen every positive catalyst play out, and the miners have done nothing but go down and the metals languish.
I have been a bull, but my patience is just about at its end.
The Fed in cooperation with the world central banks has managed the dollar beautifully.
It doesn’t matter how much they print, as long as the US prints the least, at least as far as metal and miners are concerned, especially the miners. And that has been the story for the last 10 years. As long as USD continues to rally in an ongoing bull, it is going to be a headwind for miners.
The BoJ is sacrificing the yen to preserve USD, and as long as they are willing to do that, it doesn’t seem as if anything else matters.
Last post–the whole commodity complex has been in the dregs since the Fed announced QT. Wheat for example peaked out at $1300 in 2022 and is now sitting at $576!
The gold bugs were wrong about the Fed not being able to do QT. They have and it has worked a treat, at least as far as commodity prices go. The collapse in yen (and rising USD) has also helped put pressure on commodities.
Supposedly Gold is a hedge against people losing faith in their government. If what has happened in the last 3 plus years didn’t do it WTF will?