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Moderator
 United States
190483 Posts |
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Ah well, there goes my dream of retiring early... I was never going to retire early from this. Maybe if I bought a hundred ounces of gold two decades ago, but not from the silver run since I am not selling my silver coins!  |
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Pillar of the Community
 United States
5878 Posts |
Well, I'm certainly not looking to sell any of my collectible [collectable?] coins (whether gold, silver, copper or nickel), but I did buy a significant amount of silver and gold bullion since 2012. Enough that if gold were to hit, say, $10,000 and silver were to hit $200... Well, let's just say it would more than make up for whatever I'd lose out on my social security by retiring at 60 this year instead of waiting until I hit 67.
Ah well. As I said, the thought hadn't even crossed my mind until just recently when things seemed to be headed that way in a hurry, so it's not like my carefully laid plans have been cruelly crushed by the uncaring vicissitudes of fate. Easy come, easy go...
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Pillar of the Community
United States
1798 Posts |
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Yowza! The $100 floor gave in. Hate to tell you but the only real support that you can see from a chart is $50. On or two days does not set a floor. What goes straight up will correct. A day like today will flush out a bunch of "paper" gains. You have not been able to more than 69x from a dealer all week. I spoke to my dealer friend last night and he told me before this sell off that he was suspending purchases even below 69X. He was buying $100K a day. Patience and let the markets settle. The current environment does not add up: 1. Dealers in US / Refiners cannot keep up with purchases. This would suggest OVER SUPPLY. 2. Far East - Prices we are told continue to rise and are in the $130s. This would suggest HIGH DEMAND. 3. COMEX - We're told the vaults will be empty by March. This would suggest HIGH DEMAND. The equation above does not add up high supply should lower prices, high demand would raise prices, yet we have both (and FED stuff, wars, maybe wars. trade wars). Volatility is uncomfortable for most. |
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Pillar of the Community
United States
1136 Posts |
Last night's low was $95 on silver futures.
Just as expected. Good thing I'm off work today and can focus on trading.
I'll be looking to nibble some if it comes back down to $95 again
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Pillar of the Community
United States
1136 Posts |
Beware!! the fear mongerer's will be crawling out of the woodwork to say aha I told you so !!
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Pillar of the Community
 United States
6619 Posts |
A lot of profit taking today in both stocks and commodities ahead of the weekend.
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Pillar of the Community
United States
1136 Posts |
One thing to note about yesterdays mini flash crash, remember, the one that dumped the ENTIRE market at 10 am EST.
Everything pretty much rebounded quickly EXCEPT Crypto.
Crypto is in the toilet right now. Crypto has been going down while gold and silver was going up.
Money is moving from Crypto to the metals.
The crypto bro's are going to be pumping fear into the metals market right now to get everyone to sell metals and buy Crypto again.
Today I'll be selling my IBIT Crypto ETF position and may be redeploying the money into more mining stocks or silver or both.
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Pillar of the Community
United States
1136 Posts |
Another thing to remember is that systemic market crashes take EVERYTHING down with them at once. It's the stock market algorithm that tells the machines to SELL everything.
You have to wait and see what bounces back, and what continues to fall.
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Pillar of the Community
United States
1136 Posts |
Warren Buffett famously said,
"Be fearful when others are greedy, and greedy when others are fearful".
A lot of things will be on sale today, and even possibly for the next few days. And I'm feeling kind of hungry.
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Pillar of the Community
United States
1136 Posts |
The U.S. Dollar is getting a little bounce today. Check ticker symbol $DXY That will bring some weakness to Gold and Silver, but $DXY is still sitting on the bottom near the 12 month low of the U.S. dollar. And the last time I checked, the government has Neither paid off it's debt Nor stopped printing money.  |
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Pillar of the Community
United States
1136 Posts |
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Hate to tell you but the only real support that you can see from a chart is $50. On or two days does not set a floor. Actually, we can see support at $90 and another in the low $70's Lets worry about those first before we panic sell all the way to $50   EDIT: technically we never made a floor at $110 or $100 Edited by Harry213
01/30/2026 10:46 am
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Moderator
United States
190483 Posts |
To be clear, when I say floor, I mean a metaphorical one set by the "milestones" of this topic, not those determined by all you chart technicians and fundamental analysts debating where we are really headed.  I am just here for the ride and some hot tea.  |
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Moderator
United States
190483 Posts |
Quote:
Actually, we can see support at $90 Testing...  |
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Pillar of the Community
United States
1136 Posts |
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To be clear, when I say floor, I mean a metaphorical one set by the "milestones" of this topic, not those determined by all you chart technicians and fundamental analysts debating where we are really headed.  Yes, you are correct. In this forum post, when you mention "floor," you're referring to a price "level" rather than technical support. Actual support levels rarely align with even numbers like $100 or $110. Technical charts utilize temporary floors, or "support and resistance." Silver, for instance, demonstrated this with levels at $103, $108, and $115 before the recent dip. We will be watching for bounces or failures at the levels below these. |
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Pillar of the Community
United States
5878 Posts |
*oof*
Down to $95. How low can we go...
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Replies: 2,837 / Views: 92,650 |
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Posted 01/30/2026 09:30 am
