| Author |
 Replies: 2,808 / Views: 90,536 |
|
|
|
Pillar of the Community
 United States
6625 Posts |
Quote:
Crude Oil has just broken out and hit a new high of $80.43 Quote:
The highest price ever recorded for crude oil was $147.27 per barrel on July 11, 2008.  |
|
Pillar of the Community
United States
1130 Posts |
Quote:
Crude Oil has just broken out and hit a new high of $80.43 Quote:
The highest price ever recorded for crude oil was $147.27 per barrel on July 11, 2008. Sorry, didn't mean All Time High. That is correct though, I have to confirm but I think it's been over a year since we've seen the recent level. I'm quoting recent highs. But Oil has just made a new "recent" high today of $81.75 and climbing. Silver is flirting dangerously close to support and just broke below $81.   Wow Oil just cracked Silver  Edited by Harry213
03/05/2026 3:05 pm
|
|
Pillar of the Community
United States
1130 Posts |
Okay now Oil broke through $82 and just sold off immediately to $80 probably profit taking? Meanwhile Silver continues struggling at $81 Will it get back up like it always does? |
|
Pillar of the Community
United States
1130 Posts |
Okay here we go ladies and gentlemen we're in the 9th round before the closing bell and Silver has gotten back up and over $82 again. It's not over yet. And now it's Oil that is trying to get back above $81 What a fight, what a time to be alive ladies and gentlemen, how will today end for these two heavyweight champs  |
|
Pillar of the Community
United States
1130 Posts |
Silver ended the retail market trading day above $82 and is currently around $83 on the overnight COMEX. Gold also ran up into the closing bell and hit $5100 in the after hour's session. Both Gold and Silver are now seeing some selling pressure in the overnight. Oil sold off into the bell eventually bottoming out at $78 for light crude and is now chopping sideways at around $79 in the overnight COMEX session. I have to say that even though Oil made an impressive show today with a new 52 week high above $82. Momentarily topping Silver spot price.. Silver won today's round, closing the day north of $82 approximately $4 above oil. Stay tuned for what's coming overnight and for what tomorrow's opening bell will bring for Silver. |
|
Pillar of the Community
United States
1130 Posts |
Quote:
Probably just chop sideways for awhile until something eventually breaks. Next floor down is $79-$77
The beginning of day 3 of the sideways chop until something breaks pattern. Break does not infer a break to the downside rather it means a break outside of the current range wether it's up or down from here. Silver once again stood up last night at around $85 before selling off and now is back to flirting with support again in the lower range. Silver is currently at $82.30 Gold performed similarly to Silver last night. Before selling off and now it's back to around yesterday's lows around $5080. In other news Crude hit a New 52 week high of $86.70 early this morning. Will oil hit $1000 a barrel? There is currently a direct correlation between oil and the metals. Each time oil surges the metals pull back. And vice versa. The dance however is being lead by oil. An interesting dynamic to watch play out in real time. And fascinating to watch for us chart geeks. Oil is now influencing Silver and Gold in much the same way the U.S. Dollar index normally does. But sadly, this morning oil is higher than Silver,$86 vs $82, so oil will take the lead in this inning of todays game. |
|
Pillar of the Community
United States
1130 Posts |
Silver is trading in this tight range between roughly $82 to $85 for a third day. These moves where it coils up building up pressure, is sometimes followed by an explosive move. Gold is in a similar tight range of between $50 and $100 swings. Pretty boring I know. But don't despair, something surely is coming through the pipe soon to spark up the explosion. And in other news: Oil made a new intraday high of $89.62 pushing $90 in just one week. $100 a Barrel is getting closer. |
|
Pillar of the Community
United States
1130 Posts |
Interesting side note: The market fell out of bed this morning with the bad job report. The DOW losing nearly 800 points. NASDAQ and S&P also opened down. Surprisingly with such a drop in equities that it didn't send the metals crashing down even temporarily. Maybe the impending doom and gloom that's on the horizon is already baked into the metals. A good sign for Silver. Now watch me jinx it.  |
|
Pillar of the Community
Canada
5404 Posts |
Let's see OIL vs Silver .
Oil wins hands down.
The average hold for a silver stacker
is ( according to most accounts)
20 ounces or less .
Almost everyone on the planet uses oil
in one form or another everyday.
For most oil is a need , silver not so much .
A real oil shortage could occur quickly and create
panic .
99 per cent of every person on the street could care less
about a bogus Silver shortage .
Ask anyone the price of gas they know .the price of Silver. crickets !
Edited by Pacificoin
03/06/2026 10:54 am
|
|
Pillar of the Community
 United States
5865 Posts |
A little bit of upward mobility this morning after not a whole lot of movement overnight. Up to $84, heading toward $85.
Here's hoping for a strong finish to the week!
|
|
Pillar of the Community
United States
1130 Posts |
Silver so far has respected the price support trend line above $80, but it's close to losing an ascending trend line of support that has been in place since the February lows and the most recent March lows. If Silver doesn't make a big move up today, this would be something to seriously consider going into a weekend that could hold surprises. I'm contemplating a few puts across the board, until Monday, just in case. Oil however has broken above $90 and is currently at $92.62 and going parabolic. $100 a barrel is within reach now. People can brush this off as much as they want, but I'm going to agree with Pacificoin on this one. IF this continues then the economic implications globally are far greater than if silver goes up or down a few bucks. And will have a greater impact in the future, than just paying a little more at the pump right at this moment. Maybe even cut into the coin and bullion buying money just a tad. But the day isn't over yet. Stand back and stand by. |
|
Pillar of the Community
United States
5865 Posts |
Quote:
Oil wins hands down.
The average hold for a silver stacker
is ( according to most accounts)
20 ounces or less Well, I have a LOT more than 20 ounces of silver, to be sure. Still, my wife agrees with you that oil is likely to be the winner. The only problem is that I don't have any space to store thousands of barrels of oil the way I can store thousands of ounces of silver...  |
|
Pillar of the Community
United States
6625 Posts |
Quote:
The average hold for a silver stacker
is ( according to most accounts)
20 ounces or less . That number must be wrong. What kind of "stacker" only has 20 oz........ |
|
Pillar of the Community
United States
2253 Posts |
A new or occasional stacker will have 20 oz or less. Us old long time stackers are way above that LOL. I assume a small minority of US citizens stack gold/silver. The high rise in prices has brought newbies into buying. I hope they don't feel burned and sell at a loss if prices crash. It's best to buy and hold when possible in my opinion.
I don't have a lot but my Exxon stock is doing pretty good at the moment and currently paying a 3% dividend. I'd much rather have lower gas prices than higher Exxon stock. Seems like every time there it a significant military conflict oil prices spike up.
Edited by livingwater
03/06/2026 3:06 pm
|
|
Pillar of the Community
United States
1130 Posts |
Silver has gone absolutely no where all week, with about a half hour left in the retail trading day. So the only question for me now is which put to buy? Lotto puts are cheap and have the best upside but I hate the negative theta and time decay. So probably best to pay up and to go further out, closer to 45 DTE. If nothing happens this weekend I'll sell it back Monday. But either way as far as oil is concerned: I much prefer buying my Oil as an investment through oil and energy stocks and ETF's, rather than by the barrel. Edit: I also own way more than 20 ounces of metal, but wether silver is $50 or $150 or wether gold is $6k or 2k it won't have any impact in my daily life or expenses. Edited by Harry213
03/06/2026 3:48 pm
|
| |
Replies: 2,808 / Views: 90,536 |
First Page
Previous Page
Posted 03/05/2026 3:04 pm
