Gold and silver prices are down

Win

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What's catching my attention is the gold is remaining strong in the face of a declining market i.e. the margin calls don't appear to be having the negative effect I anticipated. Maybe we are getting closer to a breakout???
 

DJBrad

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What's catching my attention is the gold is remaining strong in the face of a declining market i.e. the margin calls don't appear to be having the negative effect I anticipated. Maybe we are getting closer to a breakout???
Confirmation of a Fed pause is needed or contagion increasing for Gold to breakout. It’s pretty much diverged from equities now as we can see. I’m still super bullish for breaking $1950 soon. If $1900 is becoming the new floor then we are set for full throttle. Moving down to $1800’s appears to not be happening and even if that occurs the fundamentals are still very favorable to precious metals.
 

DJBrad

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Hit a high of $1936 on Feb contracts. USD is slowly losing out and this year may see some major weakness. I’ll say 80’s by Q3 2023.
 

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yogi

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C'mon, who's gonna buy this? You know you want it...

Already have a couple I use as door stops, so I'll pass.
 

76Too

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C'mon, who's gonna buy this? You know you want it...

That’s straight up retarded.

It’s ‘worth’ the exact weight of silver it is comprised of…nothing more.

People amaze me the kind of shit they see value in. I understand it’s historic, but that premium is absurd.
 
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C'mon, who's gonna buy this? You know you want it...

Wow - priced on the 'real value' rather than artificaly low 'market value'. Sounds like something you'd hear from a deluded seller in a declining real estate market.
 

Uzi2

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C'mon, who's gonna buy this? You know you want it...


I wouldn't buy a 100oz. silver bar from anyone on a bet.
 

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Win

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Thus far 2023 has been a really good year for gold. No huge days but most days up a few dollars starting to really add up. We’re not terribly far from all time highs.
 

Varmint

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What's catching my attention is the gold is remaining strong in the face of a declining market i.e. the margin calls don't appear to be having the negative effect I anticipated. Maybe we are getting closer to a breakout???

You get margin calls when the stock market drops big, like 3-4% down days - we haven’t seen that recently.

Hopefully it’s not just momentum traders cause they’re the weak hand.
 

DJBrad

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$1949. But gold miners and silver haven’t gained much the last week, so we’ll probably get a failed test of $1950.

Which would be ok, we should consolidate the nice gains of the last few months before making a run at breaking $2000.
Yeah that was expected that we would see a pullback at 1949. I watched it hit that high today and said, “ down she goes”. It’s a good sign to see this consolidation and like @Varmint I’m not surprised that miners are still undervalued and trading on super low volume.
 

Varmint

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Yeah that was expected that we would see a pullback at 1949. I watched it hit that high today and said, “ down she goes”. It’s a good sign to see this consolidation and like @Varmint I’m not surprised that miners are still undervalued and trading on super low volume.

The thing that worries me is the stock market is still so bullish, investors just rotate into something else, there’s no panic selling or bearish behavior (bearish sentiment doesn’t mean anything if investors behave bullish).

So I think momentum traders have noticed gold’s rally and are jumping on board. That could get us to $2000 even but it won’t last cause they’ll jump ship as soon as momentum turns. And the correction will be worse as they all bail on gold.
 

DJBrad

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The thing that worries me is the stock market is still so bullish, investors just rotate into something else, there’s no panic selling or bearish behavior (bearish sentiment doesn’t mean anything if investors behave bullish).

So I think momentum traders have noticed gold’s rally and are jumping on board. That could get us to $2000 even but it won’t last cause they’ll jump ship as soon as momentum turns. And the correction will be worse as they all bail on gold.
Exactly. There is no fear yet. Once fear sets in say gnite to everything.
 
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