So any idea on the recent correction in gold stocks? The drop from 40’s for GDX still seems to be happening.
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Gold and silver prices are down
- Thread starter Rider
- Start date
And silver crashed into the 23's.
I gave up trying to determine why for any metals and just ride with the flow, buying low and hanging in there.
I gave up trying to determine why for any metals and just ride with the flow, buying low and hanging in there.
Gasgunner
NES Member
That’s East Bridgewater center right on Rt18.
Varmint
NES Member
Just think of it as technical trading. We tested $2000, and this is the pullback. I wouldn’t read any more into that. $1880-1900 has been very strong support and held again today.
Silver just follows gold.
Varmint
NES Member
The main issue with gold and gold miners is that they're not going to break out to new highs with the stock market near record highs. There's not much interest in gold when investors are still buying all dips in the S&P500. Today is yet another example.
GDX is back to it's price of a month ago, chart is still bullish, will hopefully stay above $34.5.
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Win
NES Member
I have a question for you guys - do you think this is the bottom? With the recent recession talk I'm wondering if the fed might pivot or, at least, become more dovish. My sense is that this may be the end of sub $2k gold. What do you guys think? Are these the last several weeks to buy sub 2K gold?
Win
NES Member
Kitco news interviews indicated that gold could go down to $1,800 - some nonsense about Fibonacci extensions that I never understand ![[laugh]](/xen/styles/default/xenforo/smilies.vb/012.gif "Laugh [laugh]")
. I put some lower bids in on some Heritage auctions ending tonight but I already lost.
. I put some lower bids in on some Heritage auctions ending tonight but I already lost.
Varmint
NES Member
Kitco news interviews indicated that gold could go down to $1,800 - some nonsense about Fibonacci extensions that I never understand
The gold experts go from too bullish to too bearish, so I wouldn't read too much into it. There seems to be a huge buyer who comes in whenever gold gets near $1880, so that will probably be the bottom. If that doesn't hold then yeah, $1775 to $1800 is the next huge support level.
I think this is just another consolidation, fundamentals and long term charts are still very bullish for gold.
Silver is in the 21's, time for a little add on.
Varmint
NES Member
Looks like $22.7 to me. I think it won’t go below $22 on a weekly basis.
Varmint
NES Member
Gold testing 50 day MA at $1850 today. Still very bullish.
I always buy low.... Then it goes lower.... So I buy more... Then I run out of money.
The only way to beat the game and sustain long term growth is buying weekly or monthly. Unless you get lucky or do this shit for a living you'll never really get ahead.
Or, just hold, and hope you didn't buy at the extrema high.
Varmint
NES Member
I think that works for PMs cause when they get cheap, the premiums tend to go up and negate the sale price. For gold and silver mining stocks, I feel like you should only buy when they're super cheap, like now - cause the selloffs are so brutal, the only way to be in them is if you get them super cheap.
So we could be seeing some major action in gold happening shortly. It’s doing it’s job as a preservative asset and it’s up today as I expect more institutional positioning into that shiny rock. Zoltan is a Federal reserve insider and while he only mentioned gold being an asset backing for fiat once recently, that is very telling for what the future holds.
www.credit-suisse.com
Zoltan Pozsar: We are witnessing the birth of a new world monetary order
How will advances in technology, finance and sustainability shape this vibrant region’s next stage of growth?
www.credit-suisse.com
Win
NES Member
richc
NES Member
Last night I had a dream. Very vivid.
I was watching the price of gold and it shot up to $3000 an ounce, and then $5000/ ounce. My last recollection was $8000/ounce.
Then news came out about how Russia had started nuking European countries. There was mass devastation. Huge swarths of death and destruction.
Isn't this how the Terminator movies started???
I was watching the price of gold and it shot up to $3000 an ounce, and then $5000/ ounce. My last recollection was $8000/ounce.
Then news came out about how Russia had started nuking European countries. There was mass devastation. Huge swarths of death and destruction.
Isn't this how the Terminator movies started???
Varmint
NES Member
Last night I had a dream. Very vivid.
I was watching the price of gold and it shot up to $3000 an ounce, and then $5000/ ounce. My last recollection was $8000/ounce.
Then news came out about how Russia had started nuking European countries. There was mass devastation. Huge swarths of death and destruction.
Isn't this how the Terminator movies started???
No they started with a naked Austrian body builder. Was that in your dream?
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Last night I had a dream. Very vivid.
I was watching the price of gold and it shot up to $3000 an ounce, and then $5000/ ounce. My last recollection was $8000/ounce.
Then news came out about how Russia had started nuking European countries. There was mass devastation. Huge swarths of death and destruction.
Isn't this how the Terminator movies started???
- Joined
- Sep 10, 2009
- Messages
- 41,854
- Likes
- 79,567
Silver dropping below $21/oz today...
I'm sure the PPT is hard at work trying to keep metals from sky rocketing. The last bastion of hope for a dying banking system. Don't let thr plebs see what's happening.
Varmint
NES Member
Rates going up and oil sky high are bad for gold and silver miners. But they'll do well when that narrative gives way to stagflation and a Fed pivot.
Varmint
NES Member
S&p500 down 90 points and gold is flat. Gold miners are following the S&P down though.
Win
NES Member
The case for gold & silver are becoming stronger and more obvious. As a collector of old gold and silver coins I don’t care if they go up or not - I can buy more if they don’t. But if I had to guess, I would guess that prices move up in the near future.
Damn those are nice....
www.scottsdalemint.com
The Jesus Collection Coin Series | Scottsdale Mint
Shop Gold & Silver coins from The Jesus Collection. Unique and visually stunning coinage with imagery of Jesus Christ. Legal Tender in Samoa.
www.scottsdalemint.com
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Damn those are nice....
The Jesus Collection Coin Series | Scottsdale Mint
Shop Gold & Silver coins from The Jesus Collection. Unique and visually stunning coinage with imagery of Jesus Christ. Legal Tender in Samoa.
Ted Butler on the BOA silver derivatives.
silverseek.com
The New OCC Report
What this means, in essence, is for first time in two years, the precious metals (silver) derivatives position of Bank of America failed to increase – although it remained excessively large, having grown from zero to $29.44 billion (1.15 billion oz) in little more than 2 years.
At this point I'm convinced Biden is trying to make Russia richer.
And gold drops a bit more. It is holding its own and doing its job of storing value. What I’m patiently waiting for is that decoupling event.
alan226
NES Member
I apologize if this has been asked before,
The cheapest (today) I have been able to find silver eagles is around $31 which is is around a 50% premium over spot.
Where to you guys (and gals) buy eagles at non ridiculous prices?
The cheapest (today) I have been able to find silver eagles is around $31 which is is around a 50% premium over spot.
Where to you guys (and gals) buy eagles at non ridiculous prices?
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