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 Replies: 21 / Views: 4,586 |
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Pillar of the Community
 United States
586 Posts |
Bought some PPLT @76.88 (Platinum ETF) this morning when spot price was close to $800 per oz.
Platinum price is very attractive now considering the production cost being above already. According to statista, average production cost worldwide for Platinum was $974 in 2016.
I have NO confidence on gold and silver, in short and mid terms.
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Pillar of the Community
United States
586 Posts |
There is NO surprise; gold and silver lagging behind, as Platinum roars back to $837 per oz. More upside for Platinum, still holding my PPLT shares.  |
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Pillar of the Community
United States
586 Posts |
Among the precious metals, Palladium is the first to show signs of reversal; followed by Platinum.
Palladium could be back above $1000/oz within few weeks.
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Rest in Peace
10197 Posts |
So much for all the *&%$(#& silver I bought in 2014!   |
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Pillar of the Community
United States
4333 Posts |
@Crazyb0, what happened to your silver? I still have mine!
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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New Member
United States
36 Posts |
jimbucks, who has pre-33 gold for 3% over melt?
take my money
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Pillar of the Community
United States
4333 Posts |
Ditto!
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Pillar of the Community
United States
586 Posts |
Gold and Silver are stuck in a tight range, open interest low on futures market.
However, Platinum and Palladium are below/close to its production cost; as Platinum's cost of mining above $870/oz, and Palladium's above $900/oz.
I am holding LONG positions on both metals, in the form of ETF (PPLT and PALL).
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Pillar of the Community
United States
586 Posts |
Gold at $1181, Silver at $14.41
All precious metals crashed today, wow.
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Pillar of the Community
United States
1590 Posts |
Lots of Silver in Central Ohio. Most junk Silver dolars are in the $18 to $20 range. Buying at 10 times face is easy. 9 times face a bit harder, and occasionally you can buy at 8 times face around here. I don't buy gold so I have no idea.
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Pillar of the Community
United States
586 Posts |
Hmmm... my Silver prediction looks to be a little high.
I don't think Silver can stay above $14 by Christmas.
Gold prediction looks about right.
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Pillar of the Community
United States
586 Posts |
GOLD - COMMODITY EXCHANGE INC.
Disaggregated Commitments of Traders - Futures Only, November 06, 2018
(each contract is 100 oz)
Banksters increased long by 7,074 contracts; increased short by 12,748 contracts.
It's worthy to notice that most increases were from spreading (which means inside Banksters category there're traders holding equal amount of long and short positions) . Whenever spreading sees an increase (which implies more hedge or indetermination), price usually will show oscillation afterwards.
Since Gold price has dropped after Tuesday; therefore I believe Gold price might have another hiccup in the next few days; then fade again. Through such price action, Banksters can make money on both directions on their spreading increase; and within a tight trading range.
Overall, Gold price trend is still DOWN.
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Pillar of the Community
United States
586 Posts |
Banksters inceased their short position on Gold, by more than 13% within last week.
Watch Out Below!
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Pillar of the Community
United States
586 Posts |
The year-ending dump has just begun.
According to my estimate, we will see Gold break below $1200 within two weeks; and won't bottom until early January.
Banksters need to cash out their short position; before the early year seasonal uptrend starts.
My midterm estimate would be an seasonal rally from 2019 Jan to Apr (from $1150 to $1300); then all the way down again just like 2018. :cool:
I would close my GLD short position in early Jan; and keep adding to my SPPP long position.
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Valued Member
Australia
491 Posts |
Hi leon. Very much enjoy your threads and others that are about PM's and what is going to happen over the next year & why etc. Interesting that the fall in Gold & Silver that you talked about and that we have seen happen for some years now does not seem to be happening this year. It is still a bit early in Jan but Gold & Silver are looking very much range bound. Getting the timing right to buy at the bottom of the price cycle is generally known as just about impossible to do. But there are definitely some strong market information to be had to get an idea about when to buy your PM's or not. All that said am of the opinion that most people buy when they have the funds to do so and I am in a position to do just this come next August. Looks like I will have a 5 figure amount of funds left over to buy Gold bars and maybe some Silver tubes of bullion coins that are close as I can get to spot price. Perth Mint & my City CBD PM dealer are who I will buy my PM's from so as to keep away from the forgeries I read about in this forum. Buy from the Perth Mint and the purchase info is available to the governing powers of the day. But buying at the CBD dealer there is no record of anything. The last time I had Gold I sold it in 2007. Purchased it at under AU$600 oz. Sold it because I had too not because of any timing action or market reading. |
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Posted 07/24/2018 09:25 am
