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Moderator
 United States
195462 Posts |
All the afternoon action leaves us firmly in the ~$67 zone today.   |
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Pillar of the Community
United States
1324 Posts |
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All the afternoon action leaves us firmly in the ~$67 zone today. Silver bursted into the $68 zone today, just out of the blue, before settling into $67 zone before the close. For a second there I thought the war had come to an end, but I checked the news and nothing explained the sudden move. But the move broke just above Friday's peak by about 0.30 cents, you have to look closely to call it a higher peak, but we'll see what happens overnight. Meanwhile Gold has barely moved. And the Dollar is still up. Gold actually has been drifting slightly lower since Friday. So Silver is going rogue? Flying solo now? We're living in strange times.  But don't worry AI will save us, the NASDAQ rallied and hit new highs yesterday, we'll all be rich.. Just like the good old DOT COM days in the early 2000's. And we know how that ended. Midterm elections are 6 weeks away, less than 29 trading days left. If you think the markets are strange now, wait until you see how bizarre they get between November 5th and January. Edited by Harry213
Yesterday 10:11 pm
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Pillar of the Community
United States
2432 Posts |
Isn't this silver talk like watching paint dry? Everybody, back to your rooms.  |
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Pillar of the Community
United States
1324 Posts |
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Isn't this silver talk like watching paint dry? Everybody, back to your rooms.  Sure seems like that today doesn't it. What a difference from just a few months ago. |
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Moderator
United States
195462 Posts |
Well, the night crew decided silver needed to be in the ~$65 zone.  |
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Pillar of the Community
United States
1324 Posts |
Once again, overnight the Dollar spiked higher, this time though it kinda sorta went parabolic and just entered "July territory". What is July territory? That's when the Dollar was at 2026 Highs, and Gold and Silver were at 2026 Lows. The Dollar just cracked that Zone last night. There's always been a correlation between the Dollar and Metal's so when the Dollar is Up and Metal's are also Up you have to ask which of them is Lying  |
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Pillar of the Community
United States
1324 Posts |
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Well, the night crew decided silver needed to be in the ~$65 zone. "The night crew" reminds me of when I thought the tooth ferry was the one actually leaving the cash under the pillow at night and not my poor hard working parent's.   No,no but seriously, I hate to break it to you but it's the Dollar and interest rates that decided that Silver needs to be not at $65 but probably at $60-$62 if my math is right. It's just that Mr. Market or The Dukes you know the Dukes are the 2 old men in that movie Trading Places about trading commodities... Well the Dukes decided they were going to dump Silver on the general public in the high $60's for as long as possible before letting it go down to the low $60's because the Dukes never lose. Edited by Harry213
Today 3H 5M ago
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Pillar of the Community
 United States
6004 Posts |
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the Dukes never lose Have you ever actually watched the ending of "Trading Places"? |
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Pillar of the Community
United States
1324 Posts |
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Have you ever actually watched the ending of "Trading Places"? But of course Great movie |
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Moderator
United States
195462 Posts |
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No,no but seriously, I hate to break it to you but it's the Dollar and interest rates that decided that Silver needs to be not at $65 but probably at $60-$62 if my math is right. No hate. You always give it to me straight!  |
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Moderator
United States
195462 Posts |
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Pillar of the Community
United States
1324 Posts |
Okay so in my own words then, The silver market is easier to manipulate than gold because its a smaller market and has lower liquidity. Smaller trading volume means lower amount of capital or futures positions can trigger larger price swings. It is harder to move the gold market because its market size and trading liquidity are significantly larger than silver's.. Gold can absorb large capital flows with much less price impact. Additionally, gold's demand is heavily anchored by Central Banks and institutional reserve holders, whereas silver's smaller market and high industrial exposure leave it far more vulnerable to speculative retail swings. And so I always say Watch Gold (and US Dollar) to see where Silver is or should be going.  Edited by Harry213
Today 27M ago
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Moderator
United States
195462 Posts |
Good points.  |
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Moderator
United States
195462 Posts |
Dipping into the ~$64 zone. |
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Replies: 3,314 / Views: 113,835 |
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Posted Yesterday 10:04 pm
