Gold and silver prices are down

[HARRYM]

Sounds like Michael Burry on his bearish trades


BTW I think it might be time to take profits.

As an investor Silver seems sluggish at just under 29. I am not a Silver investor but a hedge holder is all. I will never sell it and tell the wife if the world goes to hell after I am gone, and the dollar is worthless, use it then to cover yourself.

 

[DJBrad]

As an investor Silver seems sluggish at just under 29. I am not a Silver investor but a hedge holder is all. I will never sell it and tell the wife if the world goes to hell after I am gone, and the dollar is worthless, use it then to cover yourself.

I should have clarified that I’m not selling my gold and silver. I don’t consider those investments but rather a hedge like you and a preservation of wealth for my future generations.

I sold a big position in that 3X fund today as it was way too frothy.

 

[meh]

I sold a lot of ETF shares today. Kept a little. Consequently, I expect things will rebound nicely by close today.

 

[DJBrad]

I sold a lot of ETF shares today. Kept a little. Consequently, I expect things will rebound nicely by close today.

With the volatility we have meow we might see these jumps through the next few months. Who knows!

 

[DJBrad]

Now that was a retracement for sure.

 

[Reptile]

Analysts: Gold to $3,000 Per Ounce? Why Not $5,000? | The Gateway Pundit | by Promoted Post

Note: The information provided by Gateway Pundit or any related communications is for informational purposes only and should not be considered as financial advice.

www.thegatewaypundit.com

 

[meh]

With the volatility we have meow we might see these jumps through the next few months. Who knows!

Based on closing prices, I saved myself a decent amount of money by getting out when I did, but I don't think gold and silver prices are going to keep going down. It was the trader wannabe in me that prompted it. But now I have to think where I want that money to be, and I don't want it sitting in SPAXX in my Fidelity accounts and, worse, in what Schwab sweeps into in my 401K and IRAs/rollovers I have over there. There's a decent chance I'll be buying back in next week.

 

[DJBrad]

Based on closing prices, I saved myself a decent amount of money by getting out when I did, but I don't think gold and silver prices are going to keep going down. It was the trader wannabe in me that prompted it. But now I have to think where I want that money to be, and I don't want it sitting in SPAXX in my Fidelity accounts and, worse, in what Schwab sweeps into in my 401K and IRAs/rollovers I have over there. There's a decent chance I'll be buying back in next week.

The run up was too hot for gold and especially any leveraged instruments. Way overbought so a pullback is needed. I an still adding to my 401k on any dips in pms. I’ll still play with the GDXU I sold because it’s liquid, volatile, and fun.

 

[Varmint]

I should have clarified that I’m not selling my gold and silver. I don’t consider those investments but rather a hedge like you and a preservation of wealth for my future generations.

I sold a big position in that 3X fund today as it was way too frothy.

Good move, I bet it sold off a lot, and probably will sell off more if gold retests the 50 day MA at $2150.

 

[DJBrad]

Good move, I bet it sold off a lot, and probably will sell off more if gold retests the 50 day MA at $2150.

I was so busy at work today and was shocked when I saw it hitting $44 a share late morning and I was up about $46k. Sold a bit below that but damn what a ride.

 

[Varmint]

I was so busy at work today and was shocked when I saw it hitting $44 a share late morning and I was up about $46k. Sold a bit below that but damn what a ride.

Yeah miners today seemed to finally get onboard - I was up 5% overall in the morning, then the afternoon sell off in gold gave them the excuse to give it all back. I finished down like 1%. But I think now we know when miners will join the party ($2450 gold and $30 silver).

 

[DJBrad]

Yeah miners today seemed to finally get onboard - I was up 5% overall in the morning, then the afternoon sell off in gold gave them the excuse to give it all back. I finished down like 1%. But I think now we know when miners will join the party ($2450 gold and $30 silver).

Listened to Erfle on the way home and that projection seems about right. If we back test $2150 and it holds then the rise will be a further positive signal to back the truck up.

One thing he mistakenly called was $2100 gold as being the breakout for miners. While gold broke out miners did not. They did move after $2300 for sure.

 

[Varmint]

Listened to Erfle on the way home and that projection seems about right. If we back test $2150 and it holds then the rise will be a further positive signal to back the truck up.

One thing he mistakenly called was $2100 gold as being the breakout for miners. While gold broke out miners did not. They did move after $2300 for sure.

Yeah and juniors haven’t even broken out like he was predicting, even at $2450.

 

[chris_1001]

Wild SLV ride yesterday

Up ~$1. Closed down .38. What a swing.

 

[richc]

Wild SLV ride yesterday

Up ~$1. Closed down .38. What a swing.

Gold was up .84% on the week. Silver up 1.55%.

Still a good week, but some wild swings.

If Iran starts dropping bombs on Israel I suspect we'll get some strong upside moves.

 

[chris_1001]

Gold was up .84% on the week. Silver up 1.55%.

Still a good week, but some wild swings.

If Iran starts dropping bombs on Israel I suspect we'll get some strong upside moves.

Not exactly how I want to gain a profit…

I was all like then I was (on the swing)

 

[AppleSeeds]

So what happens on Monday with oil, gold, silver, and the stock market?

 

[chris_1001]

So what happens on Monday with oil, gold, silver, and the stock market?

Probably up or down.

 

[Win]

Guys check my work here:

Oil: Up
Gold: Up
Silver: Up
Stock market: Down

 

[Varmint]

So what happens on Monday with oil, gold, silver, and the stock market?

Friday looked very bearish on all of them. I think we start a pullback in gold, oil and silver. Stock market may continue drifting around, the buy the dippers continue to buy up insiders’ shares.

 

[meh]

I'd be happy to see a pullback in gold and silver myself in order to buy the dip. Unfortunately, even if Israel retaliates tomorrow, I don't think there's enough time for the market to decide there's nothing to worry about. There's going to be some geopolitical upward pressure on gold, silver, and oil for at least a few days, I would think.

 

[413guy]

After last nights events in the Middle East looking like oil, gold and the dollar will be up, with the market down. but I've been wrong before.

 

[meh]

It may help that the Biden says we won’t be participating in a counterattack. If one thinks this attack by Iran was only meant to provoke rather than succeed in any other sense, Israel’s ultimate response, as inevitable as that may be, will be calibrated not to escalate. The market could get back to whatever it was going to do had it not happened.

 

[Varmint]

I think the Iran thing is done, gold won’t rally on that. However every dip has been bought since we broke $2100, so a sell off is not a given.

 

[richc]

Allegedly Israel has made plans to counterattack Iran.

Gold heading back towards $2400. Silver heading towards $29.

Big drop on Friday. PM market got ahead of itself set back on its heels on Friday. Back at it again today.

If Israel does put the pedal to the metal and retaliate, as they've expressed, it's gonna get bumpy.

 

[Varmint]

Allegedly Israel has made plans to counterattack Iran.

Gold heading back towards $2400. Silver heading towards $29.

Big drop on Friday. PM market got ahead of itself set back on its heels on Friday. Back at it again today.

If Israel does put the pedal to the metal and retaliate, as they've expressed, it's gonna get bumpy.

My feeling is gold’s Monday rebound is not due to Iran, but due to FOMO/momentum trading. I think the Buy the Dip mentality has moved over to gold.

My evidence? Dollar didn’t move, bonds sold off, oil didn’t move. Those things indicate the market isn’t worry about the Middle East.

 

[richc]

Is Barrick Gold About To Lose Its Mali Operations?

Barrick Gold (TSX: ABX) is facing escalating challenges in Mali as the country’s military government intensifies efforts to assert control over its lucrative mining industry amid increasing R…

thedeepdive.ca

Russia trying to take over gold mines. I believe China absorbs most of the gold production in their country.

What could possibly go wrong...

 

[Varmint]

Is Barrick Gold About To Lose Its Mali Operations?

Barrick Gold (TSX: ABX) is facing escalating challenges in Mali as the country’s military government intensifies efforts to assert control over its lucrative mining industry amid increasing R…

thedeepdive.ca

Russia trying to take over gold mines. I believe China absorbs most of the gold production in their country.

What could possibly go wrong...

A lot of times these stories turn out to be a nothing burger. A small country line Mali depends on mining for their economy and they know it. These countries have made the mistake of trying to nationalize miners and it just makes everyone leave the country.

 

[Win]

I hope nothing burger. I own some Barrick!

 

[Varmint]

I hope nothing burger. I own some Barrick!

I don’t like individual producers, too many risks. I own a couple cause my wife’s 401k restricts stocks under $5. Which is pretty much all junior miners