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

If yesterday's intraday low was 22.09 and today's so far is 22.18 I am missing the lower lows.

@star

yes you are completely missing what I am saying. To keep everything simple and uniform, I am referring to GLD and SLV as proxies for those keeping score at home and it allows me a much easier way to illustrate much closer to the futures contracts, which are what I would rather discuss.

Yes but you are still missing my point- I started this thread and I stated a couple posts back that I will be using GLD and SLV as the proxies.

Therefore, trying to compare spot price and the ETFs is useless. I will not be going by spot price and therefore will only address either the price going by the futures market or the ETFs.

So again, I will only address the ETFs to keep things simple and gives a better look into the market.

going to be exciting next week,, as it appears gold and silver are ready for another leg down. However, if you have been following this thread closely, all the clues and signs of this have been pointed out to you.

This is how it will always work, there will be gaps, chop, a rise in price. Many many many will fall for this and assume that the price is now stable. We can see the folly in that, everyone who said gold was stable and silver, well, they were wrong.

The next scenarios now are- 1- gold and silver retest the yearly lows and 2- how far do they go past those yearly lows. I would expect silver if pressed hard, goes for 20 first. gold, if it breaks 1350, could easily go to 1300, those would be my first short term targets,

I would strongly advise against buying this dip, as everyone has seen, buying each and every dip is not wise, nor prudent and cost averaging a commodity is a sure way to blow your money.

Remember, gold and silver are stuck in a downtrend, and here we are years later and the path of least resistance is down. Those who attempt to go against this are getting steam rolled left and right.


What you decide to do is up to you but remember, better prices will be here if you just wait and watch.

Everyone's opinions about gold and silver are at an all time low now which is why folks who couldn't afford silver and gold at higher prices are stepping in.
Remember, when everyone wants to buy silver, wait for the market price to increase as demand goes up then sell immediately.
Today, I bought 10oz of silver.
with stocks, never catch a falling knife, but there is an exception to that with gold and silver.

Gold is saying deflation ahead. And yes you may see gold go another 15% lower. However, the stock market is way over priced. Fed ex revenues, shipping, baltic dry freight are all headed down. This is why the push to distribute stocks.

"Greek Bonds"

Or at this point for the last 3 years I wish I had just been buying/hoarding palladium lol as it has shown some real resiliency IMO.....

The long bond is dying on the vine, yields on lower dated t-bills are slowing rising, the dollar is rising and gold and silver have been falling hard. The economy IS getting better. The harder the negative people shout and scream that things are not getting better, the louder the roar gets that things are not going into the toliet and while growth might be slow, things are coming along fine.

QE from the Fed is coming to an eventual end as was shown by golds action. Now weeks later we are hearing trial balloons being fed by the Fed into the financial media about ending QE. It wont be overnight and sudden but this is how markets work, they discount and price in the future.

and why? because QE at its amount and speed isn't going to be needed going forward. Other countries perhaps will pick up the baton such as Japan. I expect this continued slide with gold and silver until they finally will find a base and just sit around a price range.


That's why gold and silver are being dumped and funds are and have been heading for the exit doors. Theres no use for sitting on gold and silver at these price levels.

Star talks about Greek bonds and doing well in them. He is right. But again, nothing new in that. Happens all the time, I had written about the Greek bonds a while ago, that they would be bought when the market priced in their value and they have, and they have risen. But the bonds were not bought at each and every drive down. They were picked up by the market when it finally realized its value, as set by the market. This happens all the time, across the board.

The same will happen with gold and silver. The phase we are in is one of discarding and bringing down the price to fully value the market environment going forward.

However, gold and silver offer no yield. They offer no sort of value, where in a stock as it slides, certain metrics can be used to evaluate a sort of fair value. Gold and silver are still a commodity, and the basic, simple rules applies to them as it applies to all other commodities, and that is the rule of supply and demand. Going forward, there is NOT a demand for gold and silver.

Finally, as Mr SilverHawk notes, yes, Pal is the leader and continues its momentum and as I updated the other thread the other day, this metal is still in its early stages. Its coming within striking distance of its yearly highs, a very good signal for trend following traders such as myself.. I am a buyer of Palladium as it makes yearly highs. I always buy on the way up, buy high to sell higher.

I think really everyone interested in metals should stop concentrating on gold and silver unless they are selling them short and focus on palladium if they are looking to buy.

I cant tell you how much money I see everyday flooding into the auto sector in the equity markets, its broad breadth and are market leaders which confirms and bodes well for the price action on the buy side with palladium. In fact I wouldn't doubt we actually start seeing mints making more palladium coins.