| Author |
 Replies: 5,649 / Views: 461,152 |
|
|
|
Valued Member
Canada
343 Posts |
Definitely conflicted. Nice to see the paper value of PM's going up (especially for people like me who bought a fair amount of AG at higher prices) but will definitely make it harder to get more at the low prices we have been having. All a matter of perspective - we may be getting caught up in the moment. PM's could also be down 10 - 15% in the next 6 months . . .who knows - I have no crystal ball but this pattern has happened before over the last few years.
|
|
Pillar of the Community
United States
3349 Posts |
Rambling thoughts. $1200 looks like a good price to short. On the other hand there aren't any big easings on the horizon. 6 months of rising economic instability means new risky corporate bond issues (goodbye to any remaining 2011-14 stock buyback profits). On the face gold looks like a good asset to hold, so covering a short in 6 months might be expensive.
But tomorrow is another day. What if other commodities suddenly come out of the pits for unexpected political reasons? There will be a stampede away from gold.
I'm glad I don't do this for a living.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Edited by thq
02/11/2016 08:58 am
|
|
Pillar of the Community
 United States
3789 Posts |
With todays gap up, gold has broken its downtrend and now sits at yearly highs. see how it all started? with a small, shorter time frame b/o that this time held and the buyers kept pushing
again, we have broken the downtrend. Yearly highs are to be bought and put any asset in an uptrend.
52 high.
Going forward, gold prices should move higher as they enter an uptrend.
Silver is really lagging here and has more work to do. Will it catch up or not and get into yearly highs? It has cleared the HOD of yesterday and continues to move higher but not with the explosive buying of gold.
Miners continue to look good, take a look at GDX.
If you are interested in a specific mining company, take a look at GOLD, which is the symbol for Rangold Resources. the stock is at 52 highs, yearly highs and a sure sign of market strength and where the money is flowing too, which is where you want to be at.
I know the gold bugs here are happy lol Silver guys, hang in there and be patient.
Now let us see how does gold handle the overhead supply in terms of price.
|
|
Pillar of the Community
United States
7390 Posts |
Quote:
With todays gap up, gold has broken its downtrend and now sits at yearly highs. see how it all started? with a small, shorter time frame b/o that this time held and the buyers kept pushing
again, we have broken the downtrend. Do you know how long we've been waiting to hear you say that yup  Come on silver! |
|
Valued Member
Canada
343 Posts |
Wow! A $22 handle on silver (in CDN) - when is the last time that's happened - been a while.
|
|
Pillar of the Community
United States
3789 Posts |
well, to me its all the same, downtrend, uptrend, I have no emotional attachment and I just look at price. If I dont, I would be broke and a worthless trader.
But just as I said I would not buy an asset in/at yearly lows, I say the same of gold now that its hitting yearly highs, one buys an asset in yearly highs.
What was interesting tho, was the combination of miners and gold moving up in tandem, I had not seen that since the last time gold was in an uptrend.
I would suspect it will be a bumpy ride up, seeing we have levels of overhead resistance, however, if the buying continues, these levels overhead will give way.
as always, give it time, watch the price action, it NEVER lies.
|
|
Pillar of the Community
United States
3789 Posts |
as a side note, there is some sort of fear going on. what it is who knows, but the market has been for a while, been hiding out in the US long bond, the Yen and they have been adding gold to this list of hide outs.
in the mean time, world stock markets, including the US have entered or been in downtrends.
|
|
Valued Member
Canada
312 Posts |
^^^AG hawk....I noticed that too about the $22 CAD......I just started stacking last April and while it's nice to see what I've bought go up in value these last few days,however I'm still not sure yet if right now is the time to back up the truck and fill it with silver....eitherway very interesting week.
|
|
Valued Member
Canada
343 Posts |
Ha - Whitetail - consider yourself lucky that you've been stacking since April. In a sense I started too early (or too late) - I think it was sometime in 2011 - Silver at $37/oz!?!? I've been DCA down since then with good results. 20/20 hindsight is a gift - should have started coin roll hunting when I was a kid in 1967 . . . .
|
|
Valued Member
United States
245 Posts |
What seems to be driving this push today is a fear of negative interest rates being put in place.
Negative interest rates mean that you have to pay the bank to hold your money!! How crazy is that? If Yellin goes with this policy, gold and silver should spike.
Edited by TMCD75
02/11/2016 1:04 pm
|
|
Valued Member
Canada
312 Posts |
I hear you silver hawk....I'm somewhat in the same boat as I started with Canadian NLCT coins in around 2011 and trust me .....I'm down....lol....I somehow weened myself off the collector coins for the most part and am now into the bullion with just the odd little Canadian NLCT purchase here and there.....been watching the CAD silver price a lot this morning and the swings are unreal....went up .85 cents...hit refresh and down to .59 cents in a Minuit......I'm ready to drop some cash on about 50 ounces.......keep thinking the big dip is coming like usal and then I hit the buy button,but this time I honestly don't know.....been watching it just keep on climbing....lol
|
|
Valued Member
Canada
312 Posts |
Forgive me but what is this Yellin you guys speak of?
|
|
New Member
United States
36 Posts |
Ol' Yellen
Janet Louise Yellen is an American economist. She is the Chair of the Board of Governors of the Federal Reserve System, previously serving as Vice Chair from 2010 to 2014
|
|
New Member
United States
11 Posts |
Negative interest rates? I'm cashing out. Done with the paper games.
|
|
Valued Member
Canada
312 Posts |
|
| |
Replies: 5,649 / Views: 461,152 |
First Page
Previous Page
Posted 02/11/2016 08:57 am
