Gold and silver prices are down

Rob Boudrie said:
And do a better job of it than your opponents in the marketplace.

Or just get really lucky and convince yourself that you really know the industry and market.
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I pay an expert for his newsletter, since it’s really a full time job. And it’s hard to pick the right expert, I listened (and still do) to mining podcasts for hours a day before picking a few and only 1 of the 3 were good.

And in a mining bear market like the last 3 years, even if you pick all the right stocks, it’s like picking the most beautiful woman on the Titanic, you’re still all going down together.
 
Varmint said:
I pay an expert for his newsletter, since it’s really a full time job. And it’s hard to pick the right expert, I listened (and still do) to mining podcasts for hours a day before picking a few and only 1 of the 3 were good.

And in a mining bear market like the last 3 years, even if you pick all the right stocks, it’s like picking the most beautiful woman on the Titanic, you’re still all going down together.
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If I could count the hours of podcasts…..


They have certainly made me a more informed investor.
 
DJBrad said:
If I could count the hours of podcasts…..

They have certainly made me a more informed investor.
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By now, 2/3rd of the podcasts I listen to are more macroeconomics than mining. Over the years I learned a few things:

- I don't listen to an interview of a mining company CEO, even if I own the stock. They're mostly fluff and marketing and I find it tends to make you overly bullish on a stock.
- I no longer listen to any of the gold/silver permabulls - the ones always bullish on metals, who say the big rally is always right around the corner.
- I don't listen to doomers - anyone predicting financial collapse, SHTF etc - it's entertaining but I've heard it all and I don't learn anything useful

And I don't buy a stock that isn't covered by one of my two newsletters - though I do own stocks no longer covered.
 
Varmint said:
By now, 2/3rd of the podcasts I listen to are more macroeconomics than mining. Over the years I learned a few things:

- I don't listen to an interview of a mining company CEO, even if I own the stock. They're mostly fluff and marketing and I find it tends to make you overly bullish on a stock.
- I no longer listen to any of the gold/silver permabulls - the ones always bullish on metals, who say the big rally is always right around the corner.
- I don't listen to doomers - anyone predicting financial collapse, SHTF etc - it's entertaining but I've heard it all and I don't learn anything useful

And I don't buy a stock that isn't covered by one of my two newsletters - though I do own stocks no longer covered.
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Exactly. I scroll through every company profile unless I want to be entertained from a previous loss or previous stock I sold at the highs. Labrador is one of them 😂


The macro ones with thoughtful and intelligent commentary I pay most attention too. For example on Macro Voices Eric had David Rosenberg on. That is a clear example of intelligent and competent analysis that is well informed.
 
DJBrad said:
Bottom line is declining real interest rates and a weaker dollar is uber bullish for gold. I’m not saying it’s 100% but it is almost a guarantee.
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Real rates have been going up for almost two years now (inflation going down and Fed rates going up) and yet gold has held up or gone up. And for years real rates were negative and gold didn’t do much or went down. In 2021 real rates were -9% and gold was tanking, now real rates are +2% and gold is strong.

So my feeling is there are stronger influences than real rates, like maybe people are starting to doubt the US can pay its debts.
 
Varmint said:
Real rates have been going up for almost two years now (inflation going down and Fed rates going up) and yet gold has held up or gone up. And for years real rates were negative and gold didn’t do much or went down. In 2021 real rates were -9% and gold was tanking, now real rates are +2% and gold is strong.

So my feeling is there are stronger influences than real rates, like maybe people are starting to doubt the US can pay its debts.
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Great points. As has been stated a few times recently Gold is now a chameleon trade. Not a firm correlation to anything really as it’s status has changed so many times.
 
DJBrad said:
www.cnbc.com

Case for gold fever: NewEdge Wealth sees record rush intensifying

"It's been a pretty strong performance for gold — especially when there is a rally in the stock market in November," NewEdge Wealth's Ben Emons said.
www.cnbc.com www.cnbc.com
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Institutional investors are at like 0.5% gold allocation. The entire gold and silver miner market cap is $300 billion, the size of Home Depot stock.

If gold or miners attract generalist and institutional money it will blow up.
 
Varmint said:
Institutional investors are at like 0.5% gold allocation. The entire gold and silver miner market cap is $300 billion, the size of Home Depot stock.

If the gold or miners attract generalist and institutional money it will blow up.
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That’s my hope.
 
I wonder if that spike to $2147 in spot gold was China or India buying. That was an insane spike and indicative of some serious volatility in the gold price on it’s way to $2500.


Now we have the main stream financial media boarding the ship.


CA99D71B-0D28-4A92-BC87-DC0CF5D1766E.jpeg
www.cnbc.com

Gold price hits $2,100 for record high — and analysts don't expect it to stop there

Gold prices are expected to remain above $2,000 levels next year amid geopolitical uncertainty, a likely weaker U.S. dollar and possible rate cuts by the Fed.
www.cnbc.com www.cnbc.com
 
DJBrad said:
I wonder if that spike to $2147 in spot gold was China or India buying. That was an insane spike and indicative of some serious volatility in the gold price on it’s way to $2500.


Now we have the main stream financial media boarding the ship.


View attachment 823711
www.cnbc.com

Gold price hits $2,100 for record high — and analysts don't expect it to stop there

Gold prices are expected to remain above $2,000 levels next year amid geopolitical uncertainty, a likely weaker U.S. dollar and possible rate cuts by the Fed.
www.cnbc.com www.cnbc.com
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Yeah the triple top is broken so while some will take profits others want to get on board because there’s zero resistance above $2100.

But I think we’ll pull back and hopefully $2000 is the new floor.

Will be interesting to see what miners do. Hard to maintain the “gold’s going to $1600” mantra now.
 
Banks are trying their very best to knock gold back down but I doubt they can bring it back below $2000 now after such a huge overnight spike.

EE1B3683-1D34-4B9D-A9A2-D73C66060AD6.jpeg
 
richc said:
Waking up this morning and looking at the price of gold.

Feels like last night I got a date with the hottest chick in school. This morning is like I'm on the date and find out she's got a dick, and it's bigger than mine...
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Relax this is typical behavior after breaking to a new high. It’s more like you had a wild night with your prom date and are spent the next morning and just want to watch reruns of Star Trek.
 
Varmint said:
Relax this is typical behavior after breaking to a new high. It’s more like you had a wild night with your prom date and are spent the next morning and just want to watch reruns of Star Trek.
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I knew we would be seeing volatility after breaking $2100 too. This is gonna be a fun ride to $2500 and beyond!
 
Nice to see gold consolidating above $2020 and $2030 resistance. Need to build energy for a big move above $2100.

Miners are also hanging in there and not selling off much.
 
Win said:
I can't believe silver is $23 plus change. That seems crazy.
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Silver and junior gold miners tend to trend together - they are both waiting for a no holds barred gold breakout. We had a technical breakout (all time daily, weekly, and monthly high), but they're waiting for a written invitation.

Probably need gold to spend some time above $2100, or maybe retest $2000 successfully and then move about $2100.
 

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