Gold and silver prices are down

So any idea on the recent correction in gold stocks? The drop from 40’s for GDX still seems to be happening.
 
And silver crashed into the 23's.

I gave up trying to determine why for any metals and just ride with the flow, buying low and hanging in there.

Just think of it as technical trading. We tested $2000, and this is the pullback. I wouldn’t read any more into that. $1880-1900 has been very strong support and held again today.

Silver just follows gold.
 
So any idea on the recent correction in gold stocks? The drop from 40’s for GDX still seems to be happening.

The main issue with gold and gold miners is that they're not going to break out to new highs with the stock market near record highs. There's not much interest in gold when investors are still buying all dips in the S&P500. Today is yet another example.

GDX is back to it's price of a month ago, chart is still bullish, will hopefully stay above $34.5.
 
Last edited:
I have a question for you guys - do you think this is the bottom? With the recent recession talk I'm wondering if the fed might pivot or, at least, become more dovish. My sense is that this may be the end of sub $2k gold. What do you guys think? Are these the last several weeks to buy sub 2K gold?
 
Kitco news interviews indicated that gold could go down to $1,800 - some nonsense about Fibonacci extensions that I never understand [laugh] . I put some lower bids in on some Heritage auctions ending tonight but I already lost.
 
Kitco news interviews indicated that gold could go down to $1,800 - some nonsense about Fibonacci extensions that I never understand [laugh] . I put some lower bids in on some Heritage auctions ending tonight but I already lost.

The gold experts go from too bullish to too bearish, so I wouldn't read too much into it. There seems to be a huge buyer who comes in whenever gold gets near $1880, so that will probably be the bottom. If that doesn't hold then yeah, $1775 to $1800 is the next huge support level.

I think this is just another consolidation, fundamentals and long term charts are still very bullish for gold.
 
And silver crashed into the 23's.

I gave up trying to determine why for any metals and just ride with the flow, buying low and hanging in there.
I always buy low.... Then it goes lower.... So I buy more... Then I run out of money.

The only way to beat the game and sustain long term growth is buying weekly or monthly. Unless you get lucky or do this shit for a living you'll never really get ahead.

Or, just hold, and hope you didn't buy at the extrema high.
 
I always buy low.... Then it goes lower.... So I buy more... Then I run out of money.

The only way to beat the game and sustain long term growth is buying weekly or monthly. Unless you get lucky or do this shit for a living you'll never really get ahead.

Or, just hold, and hope you didn't buy at the extrema high.

I think that works for PMs cause when they get cheap, the premiums tend to go up and negate the sale price. For gold and silver mining stocks, I feel like you should only buy when they're super cheap, like now - cause the selloffs are so brutal, the only way to be in them is if you get them super cheap.
 
So we could be seeing some major action in gold happening shortly. It’s doing it’s job as a preservative asset and it’s up today as I expect more institutional positioning into that shiny rock. Zoltan is a Federal reserve insider and while he only mentioned gold being an asset backing for fiat once recently, that is very telling for what the future holds.

 
Last night I had a dream. Very vivid.

I was watching the price of gold and it shot up to $3000 an ounce, and then $5000/ ounce. My last recollection was $8000/ounce.

Then news came out about how Russia had started nuking European countries. There was mass devastation. Huge swarths of death and destruction.

Isn't this how the Terminator movies started???

:)
 
Last night I had a dream. Very vivid.

I was watching the price of gold and it shot up to $3000 an ounce, and then $5000/ ounce. My last recollection was $8000/ounce.

Then news came out about how Russia had started nuking European countries. There was mass devastation. Huge swarths of death and destruction.

Isn't this how the Terminator movies started???

:)

No they started with a naked Austrian body builder. Was that in your dream?
 
Last night I had a dream. Very vivid.

I was watching the price of gold and it shot up to $3000 an ounce, and then $5000/ ounce. My last recollection was $8000/ounce.

Then news came out about how Russia had started nuking European countries. There was mass devastation. Huge swarths of death and destruction.

Isn't this how the Terminator movies started???

:)
1654534615601.png
 
I'm sure the PPT is hard at work trying to keep metals from sky rocketing. The last bastion of hope for a dying banking system. Don't let thr plebs see what's happening.
 
I'm sure the PPT is hard at work trying to keep metals from sky rocketing. The last bastion of hope for a dying banking system. Don't let thr plebs see what's happening.

Rates going up and oil sky high are bad for gold and silver miners. But they'll do well when that narrative gives way to stagflation and a Fed pivot.
 
The case for gold & silver are becoming stronger and more obvious. As a collector of old gold and silver coins I don’t care if they go up or not - I can buy more if they don’t. But if I had to guess, I would guess that prices move up in the near future.
 
Ted Butler on the BOA silver derivatives.

 
I apologize if this has been asked before,

The cheapest (today) I have been able to find silver eagles is around $31 which is is around a 50% premium over spot.

Where to you guys (and gals) buy eagles at non ridiculous prices?
 
Back
Top Bottom