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First Half of 2018: Gold $1200, Silver $15

 
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Pillar of the Community
United States
564 Posts
 Posted 02/12/2018  10:18 am Show Profile   Bookmark this topic Add leon1998 to your friends list Get a Link to this Message
That's my predictions.

The price action is a deja vu. In last few years, Gold/Silver usually was pumped in Jan & Feb, even Mar; then dumped afterwards through July. This year wouldn't be any different; as Banksters are still in full control of gold/silver futures/options (paper) market.

And many bullion dealers are selling silver almost at spot. Apparently they're trying to get rid of their inventories ASAP; do they know something that we don't? Watch out below.

Or, you can take the opportunity to sell short SLV and/or GLD; then you can use the profit to buy more physical when prices crash (and enjoy the low spot price).

Pillar of the Community
United States
564 Posts
 Posted 02/13/2018  09:36 am  Show Profile   Bookmark this reply Add leon1998 to your friends list Get a Link to this Reply
Lunar New Year is just around the corner; seasonality will come to an end SOON.

After this last round of short squeeze, the precipitous fall shall begin; just like last few years.

My strategy is still "short the paper and use the profit to stack physical".
Pillar of the Community
United States
564 Posts
 Posted 02/15/2018  3:24 pm  Show Profile   Bookmark this reply Add leon1998 to your friends list Get a Link to this Reply
Have you played soccer? Those magnificent FAKE moves ...

Yep, you're watching one right now by the manipulator of gold/silver futures market . . . big banks.

FYI, Banksters' position in the weekly futures report showed that they were leaning toward short side; yes, they had a NET short position. What good will it do them if price starts a break-out bull run? They will lose their shirts.

As seasonality is coming to an end, Banksters will take action sooner or later. Oh, by the way, they will have a very good excuse: supply-and-demand craps after seasonality ends.

Watch Out Below.
Pillar of the Community
United States
564 Posts
 Posted 02/16/2018  3:37 pm  Show Profile   Bookmark this reply Add leon1998 to your friends list Get a Link to this Reply
SELL short GLD @127.96 (spot ~ $1352)

Weekly gold futures report just released; OPEN interest dropped by another whopping 23,576 contracts (each contract is 100 oz). Seasonality has ended; downturn ahead.
Valued Member
United States
457 Posts
 Posted 02/16/2018  10:53 pm  Show Profile   Bookmark this reply Add luvmyCAM to your friends list Get a Link to this Reply
In gonna jump in, understand and comprehend the comments. Silver seems to be going one way or another and I hope down not up. I never sleep well with under 300 ounces of junk coins and a couple big bars. I sold for $18 oz. back in 2016. After the smoke cleared I only made about 1000 profit. I know it has to at least almost double for small holders to see fat money. I sold in 1980 as a 17 year old and sold again in 2008 at $$22.00 an ounce both times it was madd money! My gut instinct is to buy $500 a month and sit. Something docent feel right on the Nasdaq and in the country in general.
Pillar of the Community
United States
3455 Posts
 Posted 02/17/2018  08:35 am  Show Profile   Bookmark this reply Add fistfulladirt to your friends list Get a Link to this Reply
I didn't sell anything but watered down 40% silver halves in the last decade.
Prices will be kept low for the benefit of the large players, until they cannot. I can see the game going on for years, possibly for the rest of my lifetime.

If prices do start to climb exponentially, the cat is out of the bag, and I'm not trading for paper.
My small collection will be held for my children to inherit when I pass.
When I listen to LED ZEPPELIN...so do my neighbors...reluctantly

Roll hunting since '77
Dirt fishing since 72
Pillar of the Community
United States
655 Posts
 Posted 02/18/2018  03:45 am  Show Profile   Bookmark this reply Add ron6788 to your friends list Get a Link to this Reply
Not sure where you're getting your stats on silver, leon1998, but last year it peaked in April at over $18.50 and through the first half, remained over $16.60. Year before that, it climbed steadily throughout the first half of the year, peaking in the first week of July at over $20. I don't follow options trading as a bellwether so can't comment.
Pillar of the Community
United States
564 Posts
 Posted 02/20/2018  11:39 am  Show Profile   Bookmark this reply Add leon1998 to your friends list Get a Link to this Reply
Gold gets a smackdown. GLD @126.4, spot @1335.

My short position is IN the money; and looks better and better.
Pillar of the Community
United States
564 Posts
 Posted 02/20/2018  11:51 am  Show Profile   Bookmark this reply Add leon1998 to your friends list Get a Link to this Reply
Gold price chart looks like a double peak formation.

Several factors weigh in: Seasonality has come to an end; Banksters are NET short in futures market; US dollar is rebounding.

Nothing bodes well for gold price, the uptrend has run its course; the last surge was a short-squeeze before the dump.

Watch Out Below.
Pillar of the Community
United States
564 Posts
 Posted 02/21/2018  3:15 pm  Show Profile   Bookmark this reply Add leon1998 to your friends list Get a Link to this Reply
Another smackdown, GLD@125.54, spot @1326.

More downside ahead.
Pillar of the Community
United States
564 Posts
 Posted 02/23/2018  5:08 pm  Show Profile   Bookmark this reply Add leon1998 to your friends list Get a Link to this Reply
Gainesvillecoins is having a super sale on 1 oz gold eagle now, ONLY +$15 over spot! (uh, are they trying to sell at the top?)

Since gold eagle usually demands a premium of $55 over spot, can I safely predict gold spot will drop $40 at least, in the coming weeks?

Pillar of the Community
United States
564 Posts
 Posted 02/27/2018  09:21 am  Show Profile   Bookmark this reply Add leon1998 to your friends list Get a Link to this Reply
Seasonality ended; rate hikes continue . . .

More downside ahead for gold price.
Pillar of the Community
United States
564 Posts
 Posted 02/27/2018  12:13 pm  Show Profile   Bookmark this reply Add leon1998 to your friends list Get a Link to this Reply
$1318 now, and keeps dropping.

My first target would be $1250, since it is roughly the middle point of a box range for years (btw $1100 and $1400).

Pillar of the Community
United States
564 Posts
 Posted 03/01/2018  07:59 am  Show Profile   Bookmark this reply Add leon1998 to your friends list Get a Link to this Reply
Posted 02/23/2018 5:08 pm

Gainesvillecoins is having a super sale on 1 oz gold eagle now, ONLY +$15 over spot! (uh, are they trying to sell at the top?)

Since gold eagle usually demands a premium of $55 over spot, can I safely predict gold spot will drop $40 at least, in the coming weeks?


Anyone took the bait?

Gold spot @1308 now; more downside ahead.
Pillar of the Community
United States
564 Posts
 Posted 03/05/2018  09:50 am  Show Profile   Bookmark this reply Add leon1998 to your friends list Get a Link to this Reply
Although gold price bounced from $1306 back to $1325, the short term trend is still DOWN.

Last Friday's released weekly gold futures report showed, the commercial traders short-to-long ratio narrowed again. However, Banksters' are still NET short on gold futures; following are the data (each contract is 100oz): long 106,048 contracts, short 130,619 contracts. It usually takes at least another 2-3 weeks before Banksters' short-to-long ratio reaches parity.

I am holding my short position (started @1352) until $1250 is visited then.
Pillar of the Community
United States
564 Posts
 Posted 03/15/2018  11:49 am  Show Profile   Bookmark this reply Add leon1998 to your friends list Get a Link to this Reply
Banksters changed their direction; short-to-long ratio widened again.

Last week's futures report showed that they were increasing short contracts and dumping long contracts; and once they accumulate enough short position, prepare to see gold price smackdown, after this lengthy price consolidation.

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