What Happens To Gold And Silver Next? Look Out Below?

Piffin, are you by chance a coin dealer? :)

It was going to go off the charts last year. Um, I mean year before that. Um...I mean...

1st we have to get too and over May June July next year!

Not looking great price action wise for gold and silver this week. Very sloppy chop down for both metals.

Unless they start picking up the slack here, they are going to be coming into areas of price where either they bounce or break below them, should they break then expect lower prices going forward.

Patience is needed as this is all happening with a sloppy trade, full of gaps down, reversals etc.

more later

I hope Gold and Silver's best days are behind them. I will nibble all the way down and bite at/near bottom and nibble back to mid 20's/1500 (AU/AG), whether the cycle takes 5 years or 40 years.

I think we are out of the times of slow trends, slow moves. The over valued stocks/paper, when they fall, will need some place for money to go.

When this happens, I don't think it'll be that easy to get physical metals because of supply/demand without HUGE premiums.

Might be my wishful thinking, but I can dream can't i?

Welcome back Allspice


to answer your question yes palladium is worth buying even after running all this time.

Why?

First of all, its in an uptrend. We know it has buyers. Its been grinding higher all year long. Also, no asset is ever too high to buy.

Now, I can just see everyone ready to jump on that and say, "yea buy in at the top when its high and then prices tumble, yea thats great advice to buy when its high".

So lets clear things up and do some education here on how to buy this.

First of all we know its in an uptrend. Check. We know its already been running for a year, check. Again, these two items are important because we know buyers are present, so they are doing the heavy lifting, and confirming the trend. Thats good, we want confirmation before we put our money in. Also, the fact thats its been running here already for a year means this isn't a flash in the pan.

So, look. We look at the chart. Obviously, and I do know this pattern, this is a toughie to play buying at yearly highs because you have these extreme pullbacks and the break outs to yearly highs are very short lived before the next high materializes. In the mean time, its easy to panic, worry and leave the position.

So in my experience, this is a type of slow grind trade that needs a % stop to keep you in the game. Thats how I would approach it. I have played palladium via the PALL ETF because its more liquid for what I need and allows me to try different types of trades in different time frames.

I realize thats probably not appealing and you might be looking to put money into it with physical.

In that case, there are a couple ways of doing this. One again would be buying the next time palladium makes a fresh 52 high, going into this purchase with the knowledge that it will drop lower, temporarily, from where you bought at. But as you have seen, palladium, has continued a grind up higher, despite its vicious pull backs.

This might not be what you want to do. You might be inclined to buy when the price goes down, for myself, I never like doing that because one can guess but not not real confirmation where to buy.

However, seeing this is in an uptrend, if you want to give it a stab, why not buy some palladium coins when say it drops, 50+ bucks from its highs as an example.

Whatever you decide to do, I again say, yea buy palladium, its in an uptrend until it tell us its done going higher. One final piece of advice: if you buy, DO NOT GO ALL IN. In other words, say you want to put 5K, and this is only an example, what you decide to put in is up to you, but say you buy with only 1500 dollars worth of coins.

Then just sit and wait. See how that purchase works for you. If it shows you a profit, then proceed and buy more. I strongly urge you to buy on the way up, not on the way down.

In any case, sorry for the long worded response and there's more I could say but I want to keep it simple!

Hey Allspice, glad to be of help.

You know, your question made me think about looking at whats out there in terms of coins, there's different stuff out there, I did notice tho they do sell 1 oz bars, which looks interesting.

I might end up picking one up myself since you mention it lol. See in this case, I would prefer futures or an ETF versus physical, BUT I have nothing palladium wise in my collection so I might bite on a bar for fun.

I would let it drop say 30-50 bucks and then pick up a 1 oz bar myself.

In anycase, I hope I can help you capitalize on the higher prices with my thoughts.