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 Replies: 21 / Views: 3,889 |
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Pillar of the Community
United States
586 Posts |
http://news.goldseek.com/COT/Weekly Silver futures report showed Commercial Traders' short/long ratio above 2.5:1 as of past week. Their net short position was $7 billion! Some bullion dealer is selling junk silver at SPOT now, as Thanksgiving special. Last few time they did this, Silver spot dived by almost the same amount as the original premium. For example, if their premium for junk were $1.49; then spot would drop by just as much later. Therefore, $16 handle might not hold before the end of this year! Please wait patiently to buy that LOW (around Christmas?); there usually is an uptrend wave during the first 3 months of next year. 
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Pillar of the Community
United States
1326 Posts |
Quote:
Their net short position was $7 billion This might be interpreted as bullish by some, I would guess. |
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Pillar of the Community
 United States
586 Posts |
@otto,
If Large/Small speculators had this amount of net short position, then you might be right. However, it is commercial traders, which include Banksters; that's not bullish anymore.
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Pillar of the Community
United States
4333 Posts |
December has been the time to buy for the last couple years.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Valued Member
United States
65 Posts |
Silver does seem to drop towards the end of each year even though December is one of the biggest delivery months. Here's to hoping this year will be different.
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Pillar of the Community
United States
586 Posts |
Another HEAD FAKE and RUG PULLED FROM UNDER; by Banksters.
Especially for Silver, it got hit hard today; on the way to $16 after a few weeks.
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Pillar of the Community
United States
586 Posts |
Rug pulled, Silver at $16.76/oz now.
Be patient and wait for $16, it's coming.
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Pillar of the Community
United States
586 Posts |
Silver spot at $16.44/oz now, downtrend has started.
FOMC might have a rate hike in the middle of December; that's when Silver could hit $16 or less.
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Pillar of the Community
United States
586 Posts |
Many cyber week special and promotion will expire by the end of this week.
Next Monday, Watch Out Below ...
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Pillar of the Community
United States
586 Posts |
http://news.goldseek.com/COT/1512160416.phpNumber of contracts held by Commercial Traders: (each contract is 100 oz) Long 116,831 -8025 Short 363,372 +13,460 Weekly Gold futures report showed Commercial Traders increased short position furiously. Their short/long ratio has overextended to 3.11:1 (At Sept 8th's top, same ratio was 3.09:1; and you know what happened next). WATCH OUT BELOW.
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Pillar of the Community
United States
586 Posts |
Another smackdown day for Silver, $16.20 per oz now.
Short-term target: $15.80
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Pillar of the Community
United States
586 Posts |
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Pillar of the Community
United States
586 Posts |
$15.84 now; very likely to retest annual low of 15.20 area.
finger-crossed.
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Pillar of the Community
Canada
1051 Posts |
I've got some US dollars tucked away for just such an occasion, bring on the $10 silver!  |
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New Member
United States
6 Posts |
Hello Leon, I'm new to this site and to collecting metals. I've been reading this topic and wondering your thoughts on gold. You've been pretty accurate on silver lately and I have saved money on holding out for 10oz bars. I plan on picking up a few bars in the coming days now. But I'm also wanting to pick up some gold, I just don't have a good gut feeling on it though. I feel gold is really overvalued right now. Any tips, am I just uninformed?
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Pillar of the Community
United States
586 Posts |
@notsure,
Your feeling is correct: both gold and silver are overvalued.
However, even in the downtrend, price could still have ups and downs (interim high and low). I believe we're approaching an interim low in a week or two.
If you're itchy to buy, the best bet is to wait for Christmas since there will be specials and promotions which can reduce the premium.
But for the long term, I believe silver will fall to $12-13 region and gold might break below 1,000.
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Replies: 21 / Views: 3,889 |
Posted 11/24/2017 09:44 am
