Gold and silver prices are down

Remember when I said they wouldn't allow $2k gold? Inflation is 15-20% and gold is less than it started the year.

The entire paper market is fakeOne reason is traders and investors are getting margin calls right and left, and they have a choice of selling some tech stocks that are down 60%, or gold down only 4%, they sell gold.

Or they want to take advantage of the fire sale and don’t have cash, so they sell gold, knowing it won’t bounce 20% in a month.
 
Bought some NEM recently. They've been crushed with lower commodity prices. They were up in the mid 80's in April. Now down to mid 40's.
I bought JNUG and I’m still adding to my FSAGX. Poised for some substantial gains over the next couple years.
 
You are here…. Inflection point. IMHO if it cannot reverse the trend down and ultimately hold a close above 1990, then it is still more likely to go down.

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You are here…. Inflection point. IMHO if it cannot reverse the trend down and ultimately hold a close above 1990, then it is still more likely to go down.

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Ugh…I guess I need to decide whether I have the stomach to hold for another 7 years.

Turbulent times, indeed. I wish I knew how to invest and not just buy high/sell low.
 
Can gold close above $1800???




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I think if you want to look at support and resistance levels I would use the futures price rather than spot, cause the spot price includes storage costs and speculative traders are using the futures market. Gold finished at $1812 on the futures market after a nice bounce off $1800 today.
 
Ugh…I guess I need to decide whether I have the stomach to hold for another 7 years.

Turbulent times, indeed. I wish I knew how to invest and not just buy high/sell low.

If it feels good to buy something, you’re probably buying high. Buy when it makes you sick to your stomach to buy.
 
I dont worry much about the gold price, it’s in a trading range til something breaks or the Fed does their next Powell pivot. The stock market thinks that’s imminent, I don’t think so. It’s a chicken and egg thing. Powell won’t turn dovish until the stock market tanks, and the market won’t tank cause it thinks Powell will turn dovish soon.
 
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