What Happens To Gold And Silver Next? Look Out Below?

THIS bomb just dropped on a ISIS cave in Afghanistan, should be good for a few bucks UP, eh?

Ok, so the key take away, for me is the following, going into this week-

is tomorrow going to be a reversal day, in other words, where when our cash markets open on the SPX, gold and silver reverse and start going lower?

The Futures mean nothing to me, unless you trade them, they shouldnt be of concern.

a big gap would be a good place to sell into and close out positions. Also going forward, you want to see if gold and silver hold their gains from last week and start building bases, by chopping and going sideways.

thus far, for the shorter term traders, the short terms been very profitable, which is common, the market is full of intra-day traders who are making large sums. Anyone who says you cant make money on short term moves is completely clueless and has no idea what they are talking about. As we have seen, the short term moves have lead to the multi-month or longer time frame moves, which if they can continue will in all probabilities set up gold and silver for a push into yearly highs.

the only skepticism I hold right now is with silver, it still is acting weak, the price action is just not great, in my opinion and really looks like it just wants to roll over at any minute should any weakness in price appear. Keep watching that.

Why is platinum so much cheaper than gold these days? Would it be a good buy to get platinum instead of gold? You can get platinum for $960 an ounce or there abouts and platinum has always been considered more valuable than gold up until the last few years. I see all these metals as insurance on other investments and not a great stand alone investment except for the rare occasions when gold and silver prices spike like in 2011. If a person had 5% gold in their investment portfolio then that is enough. It is for the day when your dollar is worth 5 cents. The day when the world realizes our fiat currency is worthless.

I wanted to ask YUP, or, anyone else in here about the rare earth metals, which are really going up nicely...I'm wary to buy physical, some ar quite pricey, not sure what to do here..physical, or, mining stocks, or etf..any thoughts?
Thanks

@ilikeikes

not even on my radar, dont care for small markets like that.

the only thing I would suggest is the ETF LIT, doesn't cover all the rare earths but one of the metals that is experiencing an uptrend. Lithium is in an uptrend, wild crazy grp tho. Lot easier places to make money.

2---3 BILLION dollar paper gold pukes in 48 hours, same time both days..same old crap...I seriously doubt the future of paper bullion will ever get cleaned up.

As I had been pointing out for a while now, silver been the weak one. Gold now has tested the lower end of the range.

Now comes the big test- was all this base building in gold and silver for naught, once again, like the past? Are they now going to start a decline and re-visit where they started higher, back in December? What levels will they find support.

Whatever happens, dont make the mistake of rushing out and assuming that now prices are just going to dump and start coming out with wild price predictions. IF silver wants 10 bucks, then see if price action supports that. Point is- dont get all into a hype as price pull back.

For now, we can say gold and silver are re-testing the lower end of their ranges that they had started to break out higher from in early April.

When you stack gold or silver you are waiting for the rare bull market, or the ultra rare event where our fiat currency either collapses or we have hyper inflation. This is when you need a hundred dollar bill to buy a load of bread. When you have a federal reserve that has a non stop printing machine this could happen as it happened in post WW1 Germany. Our money system is a Ponzi scheme where we as a country keep borrowing to pay off those we already owe. That means we must play the greater fool game until the music stops. I know all you guys know what I mean. We whistle past the graveyard of countries whose currencies have collapsed and many have just in the past 50 years. We all know our currency is not worth the paper it is printed on except for "good faith" in a system where the debt is expanding beyond control. To get it back to a gold backed system would cause a revolution with old codgers like me taking to the streets to get our social security and pensions. You &^%$ with my money and you are &^^%%$#$ with AARP!