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 Replies: 5,643 / Views: 459,933 |
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Valued Member
United States
120 Posts |
I think spike in PM's and drop in market when market opens is just knee jerk reaction to an unexpected Trump victory. Gold and silver already down quite a bit from the top of the spike. I expect it will settle down once the shock wears off. I did nibble a bit at the low yesterday before it took off, couldn't help myself:-P
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Pillar of the Community
United States
3546 Posts |
Quote:
...$1400 gold and $20+ silver by Thanksgiving. What about the post election Iran effect on PMs w/r/t the probable nullification of the recently implemented Iran nuclear deal: per Trump one of the worst deals ever made for the US. Would a repeal of this arrangement be inflationary, deflationary or have negligible effect on the US economy or PMs etc.? |
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Valued Member
United States
160 Posts |
If uncertainty about the election outcome moves gold higher in the next few weeks, what is better to go with, the miners or physical metal if you had to choose only one?
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Pillar of the Community
Norway
1358 Posts |
Politics and precious metal are like communicating vessels.
Nullifying the Iran deal would put Iran in a desperate corner where it has nothing to lose. That might be much more dangerous than just leaving the contract be. Remember that the country was already on the verge of hyperinflation when I was there a few months ago.
When the news that Trump won reached us, we saw that the dollar plummeted with 5%, while gold went up over 4% and silver well over 3%. Also the stock exchanges went down instantly. I do believe most markets have recovered now, maybe because he finally made some reasonable comments after winning the elections.
I do believe that gold and silver only will reach the levels mentioned above ($1400+ and $20+) if the new POTUS will keep acting like a dumb hardliner. Which I question...
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Pillar of the Community
 United States
3789 Posts |
As I mentioned last night, dont freak out over what was happening. It is still early but our markets are essentially flat.
As far as gold and silver, they are going to go higher no matter who wins, they dont care about politics. The uptrend is here to stay in the PMs and for that matter, most commodities are in up trends. Dont try and mix politics with up trends that are in place, you will lose when you try to against the price action.
Someone asked whats better, miners or gold. OVer the long haul, getting gold works better over the miners in the uptrend. If you can, do a futures contract. That probably wont work best for most here, I highly suggest the GLD etf product, tied to gold before buying physical gold, tho that will work but you will more buy using GLD.
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Bedrock of the Community
United States
10982 Posts |
Quote:
What about the post election Iran effect on PMs w/r/t the probable nullification of the recently implemented Iran nuclear deal: per Trump one of the worst deals ever made for the US.
Would a repeal of this arrangement be inflationary, deflationary or have negligible effect on the US economy or PMs etc.? Likely deflationary if we cut off Iran's oil exports again but that's not likely to happen anytime soon. Surprised we gave back so much $$ overnight. We'll see how it shakes out. |
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Pillar of the Community
United States
3347 Posts |
Wow flatter than a pancake. The election must have been priced in.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
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Pillar of the Community
United States
1205 Posts |
Very dissapointing "surge" in bullion..oh well...time to move forward.
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Pillar of the Community
United States
7390 Posts |
Yeah. I expected more. I blame yup and his trend analytics  |
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Pillar of the Community
United States
3789 Posts |
hey, like I said, getting back to the yearly highs isn't going to be easy lol
I mean the reaction last night was really just silly, to put it mildly, there are other words I wish I could use but I would be censored here. I mean really, but anyways, gold and silver are going to be fine, regardless.
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Pillar of the Community
United States
3789 Posts |
back to the "while you were obsessing about election night" files.
I want to point out miner HL, someone asked about it I believe. Great price action in regards to its ER report, the reaction was positive, put the stock back at 52 highs.
As you know, I personally am not a fan of under 10 dollar stocks, however, a stock at 52 highs and a good ER action is worth putting on your list.
Not saying go out and buy it right now either. If you are a pull back/dip buyer and dont mind a stock under 10 bucks, this might be for you.
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Valued Member
United States
142 Posts |
Looks like Gold got "Trumped".
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Pillar of the Community
United States
3789 Posts |
Both silver and gold reversed, which is not a big deal.
You'll notice this recent reversal essentially locks silver and gold in a range for now.
This doesn't mean gold and silver are done. We have seen this movie before.
What gold and silver need going forward is to sit around here and just form a range, make a base and then break higher from the range.
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Pillar of the Community
United States
3789 Posts |
next area of importance of price for the gold is:
gold- if it gets down to 1243.20 and breaks it, lower prices are on tap, still a ways off tho, from there.
Silver, tho it lagged gold last week, the pull back doesn't look all that severe for now.
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Valued Member
United States
160 Posts |
Rotation going on in the stock market the last couple days, gold probably won't do much until that rotation slacks off. If interest rates go up, that will have at least a temporary drag on gold also. Right now, to me, precious metal stocks don't look too good, unless you want to buy the bigger dips, and flip them short term.
Edited by jmgi
11/10/2016 12:08 pm
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Replies: 5,643 / Views: 459,933 |
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Posted 11/09/2016 07:13 am
