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Pillar of the Community
United States
1253 Posts |
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Could be something to take into the weekend. Yeah looks that way. Seeing some well deserved profit taking is happening now. It might have to be a Monday thing. A close above $70 today would have been a nice ending to a wild and crazy surprise filled week.  But at least it's still in the ball park. |
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Moderator
 United States
193458 Posts |
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A close above $70 today would have been a nice ending to a wild and crazy surprise filled week.  Quote:
But at least it's still in the ball park. Better than breaking below $60 or seeking $50.  |
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Moderator
United States
193458 Posts |
The weekend crew got an early start. Trending down again.  |
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Pillar of the Community
 United States
5946 Posts |
Early morning pre-trading bump back up into the ~$69 zone. Let's hope it's a sign of things to come...
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Pillar of the Community
United States
780 Posts |
Gold is the big news from what I can see. I bought a 1 oz Buffalo for $4,164 and by the time it got to me gold was at $4,665 with no end in sight. $5,000 gold by the end of the year looks easy and might could be $6,000 with even this maybe conservative.
I'm scraping for maybe one more 2026 coin. 2027 plans for a golden Euro-Sov collection are on hold. I think .999+ gold is headed for the roof.
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Pillar of the Community
United States
1253 Posts |
WoW I haven't been watching the Gold miners for awhile and just noticed that GDX VanEck Gold Miners ETF has gone from $72 dollars a share to $104 in less than 1 month It was $72.18 July 29th and just cracked $104.56 this morning |
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Pillar of the Community
United States
1253 Posts |
Equities are puking. Gold rising up 1% That tells the story right there. Silver is fighting against some selling pressures at $69 level, but it did break out of it's downward trend last week. So have to watch and see what it does next. |
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Pillar of the Community
United States
1253 Posts |
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Gold is the big news from what I can see. Yes Gold is the leader here, I said that back when this recent run started, watch Gold. The reason is because at the end of the day when the Dollar and Stocks both are getting dumped in times of uncertainty the money goes into Gold. Central Banks are all buying Gold and dumping the Dollar right now. The US government is desperate to save the bond market and started buying back its own debt, because no one else wants it. Talk about an ouroboros - the snake that eats itself from the tail. This also devalues the Dollar so Silver is indirectly the beneficiary. Anyone that wanted to buy Gold below $4,000 had their chance last month when it hovered around $3900-$4000 range for weeks. That boat has sailed. |
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Moderator
United States
193458 Posts |
Seems like silver prefers the ~$68 zone more than the ~$70. |
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Moderator
United States
193458 Posts |
It is that sideways chop we like to see when it is not going up, up, up.   |
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Pillar of the Community
United States
1253 Posts |
Okay, so Silver has been trying to form a base of support at the $68.60-$68.80 area since Friday afternoon. It's been bouncing off of it all morning and came pretty close to losing it at around 11:30 am when it got pushed down below $68.40 but now it's back above $68.80 again so it's hanging on just barely. If Silver breeches the LOD ($68.33) then the next support is at around $66. So watch for Silver to stay above $68.60 or higher. **The high today was $69.92 around 9:10 am Edited by Harry213
Today 4H 18M ago
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Pillar of the Community
United States
1253 Posts |
Something 'newsworthy' might be coming through the pipe. The Dollar is trying to flex again. It just made it's High of Day, that's putting pressure on the metals. |
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Pillar of the Community
United States
1253 Posts |
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Something 'newsworthy' might be coming through the pipe. Just found out what that is, Bessent is speaking, the bond / US debt buy back dude. No idea what he's saying but the US Dollar is having convulsions on my chart. Let's see how metal's react.. |
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Moderator
United States
193458 Posts |
Might be an interesting afternoon. |
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Pillar of the Community
United States
1253 Posts |
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Okay, so Silver has been trying to form a base of support at the $68.60-$68.80 area since Friday afternoon.......
So watch for Silver to stay above $68.60 or higher.
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Seems like silver prefers the ~$68 zone more than the ~$70. Well look at that, Silver closed the regular session at $68.82  so there might actually be something to this zone that Silver likes. The Dollar settled down a little after the Treasury talk. If nothing else happens tonight and Silver opens in this range tomorrow then I suspect it will be settling in to the upper $60's for a while. We're at the end of the month with September around the corner. That's when the next round of economic Data is released and the FOMC meeting. I could see Silver chopping in the range between $66 low to $70 high until then. Edited by Harry213
Today 1H 2M ago
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Posted 08/21/2026 4:13 pm
