Gold and silver prices are down

clampett said:
I'm in the same boat.
I would like to buy, but I have a feeling after I do, the price will pull back to $2150.
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It's high right now, that's for sure. Maybe we hit the peak and we're just waiting on a yuge correction. If that's the concern, definitely wait it out. But if it's concern over a drop of less than 10%, it's probably never a good time to buy physical precious metals.
 
strangenh said:
It's high right now, that's for sure. Maybe we hit the peak and we're just waiting on a yuge correction. If that's the concern, definitely wait it out. But if it's concern over a drop of less than 10%, it's probably never a good time to buy physical precious metals.
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Imo you have to change your thinking now that gold has broken out of a decade long top at $2100. Gold is at risk of moving to $2500 and $3000 fairly quickly.

So you gotta ask yourself if you really need to own more gold and silver. If the answer is yes, you gotta buy now. There’s much greater risk to the upside.
 
Varmint said:
Imo you have to change your thinking now that gold has broken out of a decade long top at $2100. Gold is at risk of moving to $2500 and $3000 fairly quickly.

So you gotta ask yourself if you really need to own more gold and silver. If the answer is yes, you gotta buy now. There’s much greater risk to the upside.
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That cup and handle pattern breakout is almost perfect.
 
Got a local dealer offering $2300 per 1 oz gold buffalo. We could see a pullback to $2280 or $2250 by the end of month considering where the data leads next week.
 
Varmint said:
So you gotta ask yourself if you really need to own more gold and silver. If the answer is yes, you gotta buy now. There’s much greater risk to the upside.
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Case in point: I remember considering buying NVDA in the mid $200s and not doing it because I figured I'd missed the boat. Ironically, I still think I've missed the boat. :)
 
Varmint said:
Silver up 1% to $27.9 and gold flat in the overnight market. Silver leading gold is very bullish. 👍
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Up to $28.14 on futures. It appears the 4/22 dip was the last good buy opportunity in miners. Cracks showing in the .gov data might prove to be hard to coverup.
 
Win said:
I bought some Arizona Metals (AZMCF)
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That is on Dave Erfle's watchlist, which means he's closely examined and vetted the company, but doesn't own it yet - that could be because he's waiting to free up cash, or cause he thinks it's still too expensive, or they are expecting a financing, although not the case with Arizona Metals as he notes its cashed up.

From his watchlist (he doesn't say much about watchlist companies)
AZMCF Arizona Metals – Medium Risk
Cashed up copper developer which has 100% control of the brownfields district scale sized Kay Mine Project and Sugarloaf Peak property in AZ.
 
Silver is getting rather close to breaking past $30. Copper is already entering a squeeze towards $5 and is very bullish. Gold is about to push back above $2400 but the silver to gold ratio is what attracts me most as the correlation to miners outperforming the general market is historically firm.
 
DJBrad said:
I’ve been making a killin in GDXU and wonder if I should sell that position to get some more juniors….
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I would absolutely do that, cause they'll move fast when they break out.

I've bought 3 juniors this week with concerns that if we break $30 or $2450 gold, I might have to chase juniors. If they pull back instead it's ok cause they're not up very much.
 

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