Gold and silver prices are down

[DJBrad]

Commodity super cycle. I believe that thesis is firming up. Sweden is just about to lift the moratorium on uranium mining which could be a boon for District Metals DMXCF.


I feel like we need a Commodity based subforum

 

[richc]

The US dollar has become so weaponized that central banks are snapping up politically-neutral gold

Gold is seen as a politically neutral, safe asset, insulated from sanctions. China has doubled down on the metal in the last eight years.

www.businessinsider.com

 

[richc]

US Dollar getting hammered...

 

[DJBrad]

 

[DJBrad]

 

[Varmint]

It’s now or never bears. You don’t defend $30 successfully we’ll be at $34 in the blink of an eye.

 

[Varmint]

Bears don’t want to give up $30 silver. But it’s a good sign that we’re hanging around a fraction below and not backing off.

 

[meh]

Bears don’t want to give up $30 silver. But it’s a good sign that we’re hanging around a fraction below and not backing off.

Might happen. A lot of the sellers last time may have bought in below $25 and sold above $29. Looking at the chart, you'd think if they loaded back up at $26, they probably should have sold already, unless they, too, are expecting it to break through.

 

[Varmint]

Might happen. A lot of the sellers last time may have bought in below $25 and sold above $29. Looking at the chart, you'd think if they loaded back up at $26, they probably should have sold already, unless they, too, are expecting it to break through.

Whoever is buying at $30 knows if we break through there’s no resistance til like $34.

 

[Varmint]

Weird how silver is hanging out in a tiny window just below $30. Like there are tons of people with $30 sell orders and tons with $29.95 buys.

 

[richc]

$30 silver and $2400 gold could be broken today. That would make a nice Friday.

 

[DJBrad]

The battle ensues

 

[DJBrad]

Silver $30.64. Bulls are advancing!

 

[DJBrad]

Gold above $2400
Silver above $30
Copper above $5


Let’s get it on!

 

[richc]

 

[Varmint]

Silver $30.64. Bulls are advancing!

Commander, we have liftoff!

 

[Win]

 

[Varmint]

View attachment 881527

Half of my shares are just breaking even at this price.

Fortunately I doubled down at $0.13. Should have tripled down at $0.05.

 

[Varmint]

View attachment 881527

I think that’s yesterday’s price, it’s a little down today.

 

[chris_1001]

Damn! Great day today for silver.

 

[DJBrad]

Yup that was an awesome weekly close. End of May will be the next exciting close to cement this bull market.

 

[richc]

 

[DJBrad]

View: https://www.instagram.com/reel/C4iJwQXurFp/?igsh=MWxrdWNxN2FmYnZwMg==

 

[richc]

 

[Varmint]

It was a good day for crappy junior mining stocks. This account still has a lot of garbage in it. I still think this is short covering rather than people going long these stocks.

 

[Varmint]

Michael Burry’s firm bought $10 million in PHYS (Sprott Gold Trust) this quarter.

 

[DJBrad]

Michael Burry’s firm bought $10 million in PHYS (Sprott Gold Trust) this quarter.

Probably to hedge the losses from his short positions last year

 

[richc]

Probably to hedge the losses from his short positions last year

He's usually right, but his timing is not perfect. Often he sees things early.

 

[DJBrad]

He's usually right, but his timing is not perfect. Often he sees things early.

That is correct. Timing is one of those things only the insiders have access to.

 

[richc]

That is correct. Timing is one of those things only the insiders have access to.

Jim Rogers has the same vision, but poor record on timing.