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 Replies: 5,643 / Views: 459,570 |
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Pillar of the Community
 United States
3789 Posts |
Interesting price action here with gold, past 2 days have shown weakness, which quickly found a bid. Look at today with gold, broke yesterdays low in price and yet managed to find a bid.
Clearly the seasonal strength is helping the gold price action.
Now, once gold leaves its seasonal strength time period, its going to be interesting if these gains hold or are they all given up... time will tell.
Silver continues to plug along as well. Again, I am curious to see IF silver can hold these gains after the seasonal time period is over....
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Valued Member
Australia
491 Posts |
1st time in a number of years the the AU$ is going up and silver + gold are going down.
With price action I still try to get the feel for it all.
Believe that medical cannabis & opium poppy crops are a good look in Australia at present but do not have the skills to really know or do anything about it.
After reading Jess Livermore's book......
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Pillar of the Community
United States
3789 Posts |
Wanted to make this observation-
Gold is less than 40 pts away from hitting yearly highs. Price action is very positive thus far and hitting yearly highs, also known as 52 highs would be a big plus for higher prices.
Silver, on the other hand, is lagging dramatically as of right now. It is no where near yearly highs.
For this reason, I have always said, buy more gold than silver. It remains to be seen if silver can catch up.
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Pillar of the Community
United States
3789 Posts |
Just briefly for the upcoming week
Silver- still in a seasonal time period of strength and it is showing. Shorter time time frame, watch if/when 17.50 is breached, breaking above that would bring higher prices.
Gold- what a beassstttt. again, the seasonality strength is on full blast, in the short term, the chart looks great, price action is strong and while it could use a breather to digest these gains, yearly highs are in striking distance and thats a positive for gold.
Once gold hits those 52 week highs, also known as yearly highs, the price, we could see even much higher prices.
The PM metals look good, tho remember, this is a time period of seasonal strength. What remains to be seen in 2018 is: do Gold and silver manage to HOLD their gains, move higher with the pattern getting smoother OR are we going to once again give up all the gains and revert back lower, with continued day after day of selling.
Remember, for the most part, gold and silver have done a lot of back and forth, in the part few years, barely staying positive on the year. Its going to be interesting to see IF this year is any different.
Finally, as of this writing, these gold miners look good. (Remember, gold, silver mining are volatile and these charts can change very fast and remember to watch for when they report. Be careful when buying mining stocks.)
A few charts that look good as of this writing are-
GOLD
AEM
NEM
KL
WPM is a silver miner, we had talked about this one earlier, it was a nice chart, took a dump a few days ago and bounced back.
IF gold and silver can grind higher on a steady basis, these mining stocks will eventually do the same.
So enjoy the rising prices and be patient to see if these gains can hold and be used for future higher prices.
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Pillar of the Community
United States
3789 Posts |
As an interesting side note,,,,
safe haven currencies are running higher and current price action looks constructive.
think Swiss Franc and the japanese yen....
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Pillar of the Community
United States
3789 Posts |
Just wanted to add one more note here...
gold miner NEM just hit a 52 week high last week, on friday. This bodes well for gold miners, you want to see yearly highs. The next thing we want to see now is these gold miners hold these yearly highs and build on them.
Keep your eye on NEM going forward and see how it acts, especially when its ER comes up.
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Pillar of the Community
United States
3789 Posts |
Gold came within 1 point away from making yearly highs, that is a big deal folks.
Lets see if sometime this week gold can do it.
Silver had a big day as well but still not near that yearly highs...
should be an interesting last few days on the week here...
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Pillar of the Community
United States
3789 Posts |
well, we did get a brief touch of yearly highs in the futures market for gold, however that lasted only for a short time period.
I would not be surprised by another run at yearly highs in gold again in the short term.
Silver, while price action has been constructive, remains far from hitting its yearly high.
Remember, we are in a very strong seasonal time period for gold and silver. It remains to be seen if after this seasonal strength goes away, if silver and gold and levitate higher.
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Pillar of the Community
United States
3789 Posts |
Ok so lets keep this super simple- gold made a yearly high last week, that is a big deal in terms of price action. probabilities that it goes higher from here. Last it broke out higher to yearly highs and pulled back,thats normal. Your key number to watch on gold is to see if it challenges that yearly high again, key number is watching if/when it breaks 1365.40. Silver, meh, the poor mans gold. broke out on a short term, which is constructive, but would rather see it make yearly highs just as gold has. It hasnt tho, for now, so it remains it silver is going to lag to catch up, stay tuned. going to be an interesting year for gold and silver, not to mention the sentiment is in the dumps LOL..... would NOT be surprised to see people caught off guard this year  |
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Pillar of the Community
United States
3789 Posts |
well, price action so far says more of the same when it comes to gold lol
Gold makes a yearly high and then, despite what is perceived as fear and panic in markets, gold manages to dump lower. This really should be of no surprised to readers of this thread.
Gold continues its same patterns: make yearly highs and then stumble. This has been the pattern in price since its broke its down trend.
Silver is even worse than gold, a complete joke. it is already negative on the year.
Gold miners continue to break down as well and many good looking charts have completely broken down, some gold miners even making yearly lows.
The gold and silver market are not worth putting in your money in for the time being. I still feel only an outside event, such as war, will get them to spike. Until then, gold and silver are garbage and not worth putting your money in, in terms of their price action.
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Pillar of the Community
United States
3789 Posts |
For gold, the key number is seeing if it can reach its yearly highs and break through them, which are 1365.40, gold has continue to display the pattern of hitting yearly highs and sliding. Lets see if this changes or does it ramp up here.
Silver continues to be lame, lagging gold. Hasnt even hit a yearly high yet... lets see if gold can drag it up higher.
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Pillar of the Community
United States
3789 Posts |
Gold continues to tease, comes close to yearly highs and then stalls out. HOwever, you will notice a tight narrow range is being formed in the past few weeks of churn.
this move will be explosive, in whichever direction it decides to move.
stay tuned.
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Pillar of the Community
United States
3789 Posts |
Gold remains in a very narrow range after the drop today, the range goes far back at early January.
Assets range bound usually signify indecision by market participants who are awaiting more info before making the next move.
the more this trades in a range, when it decides to move, its going to be a very explosive move, jumping it out of the range decisively.
It would be very unwise and foolish to speculate in what direction it goes so allow the market to show its hand.
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Pillar of the Community
United States
5209 Posts |
No one else interested in silver in the last 2 1/2 months?
Lack of new designs or . . . .
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Valued Member
United States
493 Posts |
More like the last 2.5 years. Investment demand fell off big when the price went sideways. I'm not even sure if I'll hit my yearly goal of 100 oz. silver and 1 oz. gold. If we get a dip I'll bite, I usually do. I don't go for the new designs myself, if I find an old art bar with a low mintage at LCS then I'll go for it though.
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Replies: 5,643 / Views: 459,570 |
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Posted 01/10/2018 8:34 pm
