Goldtent TA Paradise

Chartmaster

1. pedro_deleon says:

   November 2, 2024 - 8:33 pm at 8:33 pm

   I have a fresh LT (major) buy for ZSL. First since last Dec.

   BUT … my VLT work says we recover (maybe down the road per Naut.), and make new highs or at least a double top.

   I still have readings that are “too bullish” to call an end to it.
   But the correction can still sting.

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2. YYZ says:

   November 3, 2024 - 1:27 am at 1:27 am

   Currently 84+ oz’s of silver per 1 oz of gold. The lowest over the past few months has only been a brief spike into the 79 region (1 day) – steady average has been around 83.
   Question for current silver bears – was silver any more disliked as an alternative to paper fiat in the 2009-2011 (gold bull) rise than it is today? I would propose NOT therefore in the (presumed) current gold bull market it isn’t likely to end before a precipitous fall in the GSR (silver rises sharply). 2011 GSR fell to a low of 35 and gold was only at a high of $2k). Presently with $2,700-2,800 gold, and a GSR now more than 2.4x the LOW (silver will again be DIRT CHEAP regardless of it’s fiat price) – I’m going to be buying some at-spot AG in the very near future. Consider this – if say gold were to plummet back into the 2600 region, that would normally cause silver to dip back below $28 – (a GSR of 93 and who is NOT going to be backing up the truck for silver?).

   To summarize – a GSR of 84 provides strong support against a precipitous fall in silver relative to gold. If silver falls from here moreso than gold, (GSR rises) it should be considered a buying opportunity.

   Of course all this commentary is about physical metal only so I have no outlook on where Miners are going short term.

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3. Chartsmaster says:

   November 3, 2024 - 5:37 am at 5:37 am

   Kestrel, No. While the move down from $35 was another in a long line of disappointing non follow thru’s to each leg higher, it is just a long drawn out method of the bankers controlling the speed of silver’s eventual upside explosion. Since $32.50 was such a large level of resistance previously, it is now likely to provide support. I don’t see much more downside from here. As always the next leg higher will be telling and it should begin this week.

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