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Replies: 2,712 / Views: 87,172 |
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Pillar of the Community
 United States
5856 Posts |
Ah well, back down to $78. It was nice while it lasted...
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Pillar of the Community
United States
1104 Posts |
Quote: Gold has Not been able to break above $4800 and hold it. See the red line.
$4800 appears to be a very tough ceiling to break through. Counting the dots you see that Gold bumped up a and got rejected 6 out of the last 9 trading day's.
Not even the news of the cease-fire helped. This appears to be a top for Gold, Yesterday Gold finally managed to close above $4800 for the first time in weeks and after a half dozen failed attempts. Last night it even made a valiant push to nearly to nearly $4900 before fading. Will $4800 hold today? Quote: What does this mean for Silver? Although Silver has been chopping slightly upwards and to the right, (scroll up to see my chart) it's not flat like Gold. Still the upside is capped and $80-$82 range could be the top of the range before it reverses and heads lower again. If it even makes it to $82. Silver closed above $79 yesterday and late last night it tapped $80 then made a valiant push to high of $81.15 before selling off. So Silver hit it's target right smack in the middle at $81 last night. Note that yesterday the US Dollar as well as Oil both bottomed out. This was a tailwind for Gold and Silver. However in the overnight / early morning shift, both Oil and Dollar bounced and reversed higher. What now? It looks like Gold and Silver are positioned to open lower today. This could trigger some volitiliy as the Bulls and Bears battle for control. Will Gold hold $4800? Was yesterday the top in Gold and Silver for right now? Does the market come to it's senses and realize the war isn't over yet? Was this just one final squeeze before going lower? It's going to be an interesting rest of week. 
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Moderator
 United States
188952 Posts |
Was back up above $80 earlier and now hugging the $79 line. 
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Valued Member
United States
234 Posts |
One year ago silver was $32.50 today it is over $79.00 . I bought most of my silver under $7.00 in the early 2000s. I can't complain about the daily price action even though it is over $40.00 off its all time high. Just buy and hold.
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Bedrock of the Community
 United States
10580 Posts |
Quote: I bought most of my silver under $7.00 in the early 2000s. What a great time that was - I was buying common date NGC MS65 St Gaudens and the new Indian Buffalo gold coins for $500 each..............
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Bedrock of the Community
 United States
10580 Posts |
Not bad - silver up to $80 this mourning - (yes, I meant "mourning")
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Moderator
 United States
188952 Posts |
Yup, pressed against $81 briefly after midnight, but settling back into that $79 zone. 
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Moderator
 United States
188952 Posts |
Little dip to $78. 
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Pillar of the Community
United States
2049 Posts |
Went to a coin show last weekend and asked some dealers about their current buy prices. The show was busy so the sample size is small (two dealers) but here's what I can report: Dealer 1: Silver 0.999 - buying at spot minus $8 90% - buying at 38x Common Peace/Morgan dollars - buying at $42 each Dealer 2: Silver 0.999 - buying at spot minus $6 90% - buying at 43x Common Peace/Morgan dollars - buying at $45 each Was surprised at how much stronger dealer 2 was compared to dealer 1. Both were coin shop owners in business for years. Either way, this goes against the narrative that no one is buying 90%. Both had no hesitation in buying. Sure glad I didn't unload bucket loads full of silver last summer. 
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Pillar of the Community
 United States
5856 Posts |
Nice bump this morning to the $81-82 range.
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Moderator
 United States
188952 Posts |
Indeed! We are back in the 80s. 
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Moderator
 United States
188952 Posts |
Looks like we are going to end the week around $80 which is okay by me. 
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Pillar of the Community
United States
1104 Posts |
I don't know, but you might want to wait until Monday to buy anything. Selling might possibly be a better idea today though...  All the markets are closed for the weekend except for Bitcoin.. So how do we get a read on what the Market's might do Monday? Well... Here's what Bitcoin has been doing since Friday after the markets closed.. We know who to thank for that    
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Pillar of the Community
 United States
5856 Posts |
Well, there was a bit of a dip when the overnight markets opened tonight at 6:00 EDT and I feared it was going to plummet, but it seems to have gone back up and stabilized for now.
We'll see what things are like in the morning, I guess.
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Bedrock of the Community
 United States
10580 Posts |
Gold just hanging around 4800 - Silver hanging around 80
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Replies: 2,712 / Views: 87,172 |