Gold and silver prices are down

[Grendizer138]

We are at the point in this PM run where I get FOMO, buy as much as I can reasonably afford, and then we get a pullback

The Manchester coin expo is this weekend, so it was completely predictable that PM would explode recently. The only thing I’m sure of is if I do buy some tomorrow there will be a correction Monday.

 

[richc]

The Manchester coin expo is this weekend, so it was completely predictable that PM would explode recently. The only thing I’m sure of is if I do buy some tomorrow there will be a correction Monday.

I was hoping to attend, but we have a bunch of contractors working on the house.

I went last year. Apparently the show is open today but mostly just for dealer to dealer sales and trades. Last year a few dealers were buying up as much gold and silver as they could. Several dealers told me they had sold all gold and silver they had before the show opened to the poublic.

I'd be interested in hearing what you see/hear at the show.

 

[DJBrad]

Short squeezes and fomo through the spring/summer should be wild. No resistance to gold until $2500 and $2750 is the near term target.

 

[Varmint]

Gold will either go up or down. Of that I am sure...

Dollar going down is a pretty safe bet, since you’re betting that Congress will continue to suck ass.

 

[Varmint]

Short squeezes and fomo through the spring/summer should be wild. No resistance to gold until $2500 and $2750 is the near term target.

Looking forward to the next Nick Santiago interview to see if he’s still predicting $1400 gold.

 

[richc]

Dollar going down is a pretty safe bet, since you’re betting that Congress will continue to suck ass.

I'll expand on your statement... All government will continue to suck ass...

 

[DJBrad]

Looking forward to the next Nick Santiago interview to see if he’s still predicting $1400 gold.

Lol yeah I bet he had to cover.

 

[DJBrad]

Actually forgot markets are closed tomorrow so does Comex trade tomorrow?

The setup technically is just too good. Close today above $2200 for gold and $26 for silver (pretty please ).

 

[Varmint]

Lol yeah I bet he had to cover.

I don’t think he was ever short, he was waiting to buy gold at $1400. Last I heard he’d raised his prediction to $1600 and was no longer sure of it.

 

[Varmint]

Actually forgot markets are closed tomorrow so does Comex trade tomorrow?

The setup technically is just too good. Close today above $2200 for gold and $26 for silver (pretty please ).

No futures trading Good Friday.

Erfle says a monthly close over $2100 will trigger the big bull run. But it’s anyone’s guess. Should be an interesting day!

 

[Varmint]

Weird that junior gold miners are all acting like they’re frozen, no trading the last week or two as gold keeps going up every day. They were trading a lot more when gold was $2000.

 

[DJBrad]

Weird that junior gold miners are all acting like they’re frozen, no trading the last week or two as gold keeps going up every day. They were trading a lot more when gold was $2000.

JRB stated that ETFs are now the indicator that leads or follows the metal prices now as miners have taken a back seat because capital flows pile into ETFs for liquidity purposes.

 

[GM-GUY]

I’d love to see a close at or above $2250 today

 

[richc]

I was checking out PCGS rated, common date $20 St Gaudens on ebay. PCGS MS 61-65 are in the $2300-$2600 range.

I remeber buying a couple MS-65's for about $1700.

And I don't think this is the top of gold's rise.

 

[DJBrad]

I’d love to see a close at or above $2250 today

Not a bad cup handle pattern with the breakout. The handle is a little messy but measured upside targets are anywhere from $3k-$5k per ounce.

 

[Duxprep]

I used to hunt down the best deals each time I was looking for something particular either 1 ounce Gold Eagles, 1/4 ounce eagles, Silver eagles, Maples, Rounds and 90% silver. Perpetually frustrated that it was always different dealers you needed to use to obtain the best deal on that specific thing. For example, Liberty Coin in California has the best deal on 1 Ounce Eagles and Buffalos -(And appears to always be the best on 1 oz Buffs and Eagles. Monument metals has the best deal on Maples (2.59 over spot). Pinehurst Coin has the best deal Silver eagles and has for some time. The point being you spend a lot of time chasing deals.

I finally started watch Louis' Silver on Youtube and he has a daily video on best deals as well as a website. The deals he finds are the same I was finding so it's nice to have it all in one place. He also covers the deals you can get by using a credit card with cash back.

www.bestsilvergolddeals.com


View: http://youtu.be/R_I--MpSI5M?si=7r9TQQGEWxFNC8k5

 

[Win]

Quite a stack!

 

[richc]

Strong finish at the close:

 

[Varmint]

JRB stated that ETFs are now the indicator that leads or follows the metal prices now as miners have taken a back seat because capital flows pile into ETFs for liquidity purposes.

Gold ETFs you mean, or gold in general? I think he means miners no longer lead the metal. I think that was only sometimes true anyway .

 

[Varmint]

Junior miners finally had a decent day, most up 8-10% today. Probably short covering.

 

[DJBrad]

Gold ETFs you mean, or gold in general? I think he means miners no longer lead the metal. I think that was only sometimes true anyway .

Gold etfs

 

[DJBrad]

Well that’s a wrap folks. At least for futures contracts this is a big deal.

 

[DJBrad]

I’ll miss our fellow cake baker for silver prices….

Start baking the "$20 Dollar cake*"...

* For those of you unfamiliar with the silver "$ cakes"...
$19 Cake - Have a slice!!

Kitco Silver forum has been celebrating whole number silver values with a "$ cake" for a long time.
Great PM Forum too... Silver Discussion Group

 

[DJBrad]

 

[Varmint]

Well that’s a wrap folks. At least for futures contracts this is a big deal.


View attachment 866780View attachment 866779

Yes, gold breakout is confirmed big time, if it wasn’t obvious.

Silver needs to break $26, but will be dragged along kicking and screaming as gold continues its rally. As will the miners.

 

[Varmint]

View attachment 866784

Hmm, you can have that huge cake for the price of one bite-sized gold cake.

 

[Grendizer138]

Alright, you physical PM guys. Just left the NH Coin Expo and it was mobbed.

Below is some pricing from Steve’s, who I appreciate advertising his prices so I don’t have to ask.





And this was the deal of the show as far as I’m concerned. There were 2 gone within 15 minutes.

 

[Varmint]

Alright, you physical PM guys. Just left the NH Coin Expo and it was mobbed.

Below is some pricing from Steve’s, who I appreciate advertising his prices so I don’t have to ask.

View attachment 867028

View attachment 867029

And this was the deal of the show as far as I’m concerned. There were 2 gone within 15 minutes.

View attachment 867030

I never understand why with US investors (and I don't mean you), the more expensive something gets, the more people like it.

Do we go to Best Buy and say "I like this TV, call me when it goes up $200."

I just don't get it. Nobody wanted gold when it was $1200 six years ago, or $1600 last year. Now at $2250, there's a stampede.

 

[Duxprep]

I never understand why with US investors (and I don't mean you), the more expensive something gets, the more people like it.

Do we go to Best Buy and say "I like this TV, call me when it goes up $200."

I just don't get it. Nobody wanted gold when it was $1200 six years ago, or $1600 last year. Now at $2250, there's a stampede.

Classic FOMO reaction (Fear of Missing out). PMs are not on most people's radar - ever. When the price starts to move it finally heats mainstream media and those who weren't paying attention start paying attention and then jump in

 

[DJBrad]

I never understand why with US investors (and I don't mean you), the more expensive something gets, the more people like it.

Do we go to Best Buy and say "I like this TV, call me when it goes up $200."

I just don't get it. Nobody wanted gold when it was $1200 six years ago, or $1600 last year. Now at $2250, there's a stampede.

That’s the emotions of markets. Everyone crowds the top but I don’t think we are close to the top for gold for quite sometime. Notice it’s all grey haired men in that picture (maybe missing some demographics). No women, children, teens, millennials, or other cultures.

I think the bull run has just begun and we’re gonna see many more people see the value of pms as a wealth preservation asset class.