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Silver & Gold

Discussion in 'Futures Trading' started by The Brontide, Jul 22, 2020.

  1. Vdubman

    Vdubman Well-Known Member

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    I picked up a little bit of gold physical just so I can say I own physical gold. Other than that, still sitting on the sidelines.

    imo the next market correction around elections will cause selling again of metals to offset losses in equities just like March. I’ll be ready to buy some up then. I made 100% return on silver so I am happy there. I don’t believe that silver or platinum will reach 2008 highs again. Too many people holding right now from FOMO thinking it will be $55-80/oz . I have seen people dumping what looks like entire investments of gold/silver this past week more than what I’ve seen the past 2 months. People selling hundreds of Oz in lots of silver or 10-20oz of gold around spot. It’s nuts.
    Up until last week it’s been an oz here or there for gold and maybe 10-100oz silver here or there.
     
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  2. The Brontide

    The Brontide Active Member

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    Sounds good. I did pretty good to on both S & G but yes also sidelined.

    My view is somewhat different, but with the expected results.

    I know yields are being fixed, so if they move, they move on purpose disregarding the market.

    I know gold feels very topped, and agree the FOMO's sound desperate to accomplish their needs.

    I know industrial demand for silver is not moving very fast yet.

    And I know Buffett can only announce what the SEC allows him to announce.

    So here I sit. Patiently awaiting what seems as obvious as a $20k Bitcoin happening.

    My money is now elsewhere until just after any October surprise.
     
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  3. Vdubman

    Vdubman Well-Known Member

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    Metals taking a breather this week
     
  4. Vdubman

    Vdubman Well-Known Member

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    Silver broke past $25 support with heavy volume today! Currently down 9.08% to $24.65 wow
     
  5. The Brontide

    The Brontide Active Member

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    Yeah, I was in on the first leg drop in silver. Had some personal biz that kept me away from watching. Sold on day two so I did miss my exit, still made a bit but not as much as possible, and didn't have a stop loss in place.

    Silver and gold are tracking the equities markets interestingly. And even moreso, both are inverse tracking the dollar index.

    I am waiting for the money presses to start back up in order to drop the dollar index.

    My guess, early October.
     
  6. The Brontide

    The Brontide Active Member

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    Well I have had a few pretty hard weeks lately, which has kept me from patronising here. Not from the markets, just life.

    Anyways, I took a bit of a hit with gold and silver last month. Fortunately was fairly quick and missed alot of the fall. But still.

    One thing I never factored or even considered which is self explanatory.

    Just read that several countries have been dumping gold to raise emergency funds. At least one country selling all their holdings.

    That I did not see and only found out about recently. But it at least fills a chunk of the puzzle.
     
  7. Vdubman

    Vdubman Well-Known Member

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    I can’t find any recent articles but did see many from March-June regarding these actions.

    the price has been fairly stable the last month or so now around the $1900 level
     
  8. The Brontide

    The Brontide Active Member

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    Ya know, I know I read it recently, but danged if I can find out where I read that. You may be right. I may have just happened on a dated article not noticing that it wasn't so recent.

    Good catch.

    I know Venezuela wants to sell all their appealed won gold. But that is a different story.
     
  9. The Brontide

    The Brontide Active Member

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    Been absent here for a few, not by choice, but by life demands.

    That said, with the election and stimulus up in the air and all the uncertainty, I have been mostly on the sidelines. Lucky for me with today's little correction.

    But yields are seemingly getting smaller which implies others also feel the uncertainty.

    Which brings me back to gold.

    Not in yet, but my eyeballs are watching it carefully.
     

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