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 Replies: 3,000 / Views: 99,909 |
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Pillar of the Community
United States
2587 Posts |
I'm not going to get excited about any of this until I see silver over $100 again (and gold over $5K).  it's all just static to me for now. |
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Pillar of the Community
 United States
8882 Posts |
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I'm not going to get excited about any of this until I see silver over $100 again (and gold over $5K). it's all just static to me for now. I agree, just been a lot of rinse and repeat. Copper is rolling at the moment though, just not at the same clips we saw the big metals at. -makecents-
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Bedrock of the Community
 United States
26535 Posts |
Same here. Checking the spot price of silver every day (much less several times a day) is an utter waste of time. History has shown that every time there is a spike / bubble, it's followed by years of stagnancy.
Inordinately fascinated by bits of metal with strange markings and figures
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Moderator
United States
192289 Posts |
You guys are no fun.  It is just something to talk about.  Night crew tried to push it up last night, ultimately kept it in the ~$61 zone.  |
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Pillar of the Community
United States
1196 Posts |
Hey look at that Silver at $61 this morning, nice  Guess we're not going to $50 this week.  It's also a lot closer to $65 than to $40 which is also noteworthy. Gold is around $4259 and holding only about $150 away from that $4400 target, Nice  |
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Moderator
United States
192289 Posts |
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It's also a lot closer to $65 than to $40 which is also noteworthy.  |
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Moderator
United States
192289 Posts |
A down day for the markets and some sideways chop in the ~$61 zone for silver. Night crew, report for duty.  |
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Pillar of the Community
United States
1196 Posts |
Wow!! Silver almost at $65 this morning  high of $64.96 so far. I wonder what's going on.. **BREAKING NEWS** "We're live at the Bulls headquarters right now where the group of Bears that has been gathering this week grumbling and mulling about the recent break out in Silver have started to protest. They're waving signs and shouting things like "No more optimism  ", "Silver to $20 now" and "No more dancing fruit, or else  ", a few of the Bears have even been spotted with pitch forks and torches. We'll keep you updated throughout the day and keep checking the spot prices for you. This could get ugly."  |
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Pillar of the Community
 United States
5923 Posts |
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Pillar of the Community
United States
1196 Posts |
Quote:Wow!! Silver almost at $65 this morning high of $64.96 so far. I wonder what's going on.. Okay I lied, of course I know what's going on. I wrote the post below on July 06, 2026 at around 3pm, unfortunately I forgot how to link to prior posts so I copied the whole long winded explanation thing. It took over a month for this to finally happen, no thanks to all the economic and geopolitical drama, but finally it's happening. If any of you are trader's, trading your silver for something else, now is the time, you might want to use this to plan your next move. Quote:
Well from a technical charting perspective, Silver should see $65+ before it ever sees $51.. I'll explain why.
Silver recently lost 2 key levels of support, first it lost $70 after months above it, then it lost $65.
$70 coincidentally was near Silver's 200 DMA.. Silver lost $70 and the 200 DMA, but then it retraced back above it a few days later, but couldn't hold it, so it continued lower, path of least resistance. That's normal price action.
$65 really has not been through this 'retest' as a key Support level, at least not yet. Almost every single equity that is traded has some sort of retest when it loses key Support, the retest either fails and goes lower or succeeds and skyrockets higher.
If Silver could just catch a break in the form of a reprieve from all the economic and geopolitical events that are weakening the metals, then, and only then, I think that Silver will not only retest and get above $65 but could possibly even retry $70.
Remember, first Silver has to re-test and get above $65, the caviat is that it has to hold above $65 and go higher, otherwise it's look out below..
Again, this is a technical price action, it's a process, one that trader's and the market looks and wait for as a confirmation of wether something continues to go higher or lower. This process could take days, weeks or months, but it needs to happen. |
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Moderator
United States
192289 Posts |
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forgot how to link to prior posts Click the  right above the post. |
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Moderator
United States
192289 Posts |
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It took over a month for this to finally happen, no thanks to all the economic and geopolitical drama, but finally it's happening. I guess everyone finally accepted that we are dining on Tofu Tacos for every meal.  |
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Pillar of the Community
United States
1196 Posts |
Pre-market high for Silver was about $65.48
Pre-market high for Gold was around $4388.00
$65 and $4400 were both prior support levels, once support fails it becomes resistance. So obviously expect both Silver and Gold to have to put up a fight to get above the overhead supply.
Plenty of sellers have been waiting for these levels so expect pullbacks to lure the seller's lower, followed by pushes.
Edited by Harry213
Today 2H 17M ago
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Pillar of the Community
United States
1196 Posts |
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Silver broke decisively above its 50-day simple moving average (SMA) near $62 today, driven by a sharp rally following weak U.S. employment data. Why does this matter? Why is this important? Think forward about Inflation. Interest rates. Strong Dollar. Fed chair Warsh. September FOMC meeting. Now look back at how the War, high oil, high inflation, stronger dollar, threat of rate hikes, has all been the demise of metals. Last week new Fed chair Wash decided not to raise interest rates and instead opted to wait and let the Market's and the economy do the work of taming inflation... Markets and metals all reacted positively and went higher.  Weaker job numbers of course is bad for everyone, but in this case it's good for metal's because less jobs means people can't afford to buy more, buying less tends to cool inflation.  Markets see this as a win because it lessens the odds even more of a rate hike in September. Dollar weakens. Metals go higher. Enjoy |
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Moderator
United States
192289 Posts |
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Plenty of sellers have been waiting for these levels so expect pullbacks to lure the seller's lower, followed by pushes.  Quote:
Markets see this as a win because it lessens the odds even more of a rate hike in September. Dollar weakens. Metals go higher. |
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Posted 08/05/2026 10:37 pm
