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 Replies: 21 / Views: 4,582 |
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Pillar of the Community
United States
586 Posts |
For the past few years, Gold price had been stuck in a box range, approximately between $1100 and $1400; with the middle line to be $1250. All attempts failed to break out of this box; either up or down. This year seems to be no exception. In the Spring season, Gold went to $137x area and was unable to maintain altitude. Summer doldrums bring it back to the neutral position of $1240~$1255 (middle line of the box range mentioned). If history is any guide, second half had been downtrend, since 2011 peak. More often than not, Gold will lose the grip on the middle line $1250, and try to test the low side of the box range $1100. And, of course Silver will be dragged down, together. Thanksgiving/Christmas seem to be the best time for buyers, AGAIN. Stay tuned.  |
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Pillar of the Community
 United States
586 Posts |
There will be spikes in the downtrend; as it had been from August through November, every year since 2011. I usually took the opportunity to start a short position on those spikes; and then used the profit to buy physical(bullion/coin) during Thanksgiving/Christmas. Since Banksters have been manipulating prices down, you've got to take advantage of them.  Edited by leon1998
07/12/2018 1:43 pm
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Pillar of the Community
United States
4333 Posts |
Premiums on junk silver are rising.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Pillar of the Community
United States
586 Posts |
@fistfulladirt,
Commercial traders had been reducing their hedge (short position) as they sold more coins/bullion. Premiums are rising, could be a sign that an interim bottom is near.
Dollar index is peaking, today could just be the interim bottom.
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Pillar of the Community
United States
4692 Posts |
Quote:
Premiums are rising Really? Not from what I am seeing. Pre-33 gold is selling for 3% over melt from dealers in my area. Unlimited quantities. |
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Pillar of the Community
United States
586 Posts |
I have been watching major online dealers on bullions/junk (after all, they're the ones who can possibly afford to hedge their inventory in futures market); it seems deals are getting harder to find, that's why I tend to agree with fistfulladirt generally.
But still, if you try harder, you still can find something. It's all relative.
Edited by leon1998
07/17/2018 2:37 pm
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Pillar of the Community
United States
4333 Posts |
Quote:
Really? Not from what I am seeing. Pre-33 gold is selling for 3% over melt from dealers in my area. Unlimited quantities. Silver, not gold. You are seeing some great prices though. My LCS has no pre '33 gold, let alone 90% silver. Online the premiums on pre '33 gold are in the area of 25%. When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
Edited by fistfulladirt
07/17/2018 6:39 pm
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Pillar of the Community
United States
586 Posts |
Bought some PPLT @76.88 (Platinum ETF) this morning when spot price was close to $800 per oz.
Platinum price is very attractive now considering the production cost being above already. According to statista, average production cost worldwide for Platinum was $974 in 2016.
I have NO confidence on gold and silver, in short and mid terms.
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Pillar of the Community
United States
586 Posts |
There is NO surprise; gold and silver lagging behind, as Platinum roars back to $837 per oz. More upside for Platinum, still holding my PPLT shares.  |
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Pillar of the Community
United States
586 Posts |
Among the precious metals, Palladium is the first to show signs of reversal; followed by Platinum.
Palladium could be back above $1000/oz within few weeks.
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Rest in Peace
10197 Posts |
So much for all the *&%$(#& silver I bought in 2014!   |
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Pillar of the Community
United States
4333 Posts |
@Crazyb0, what happened to your silver? I still have mine!
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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New Member
United States
36 Posts |
jimbucks, who has pre-33 gold for 3% over melt?
take my money
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Pillar of the Community
United States
4333 Posts |
Ditto!
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Pillar of the Community
United States
586 Posts |
Gold and Silver are stuck in a tight range, open interest low on futures market.
However, Platinum and Palladium are below/close to its production cost; as Platinum's cost of mining above $870/oz, and Palladium's above $900/oz.
I am holding LONG positions on both metals, in the form of ETF (PPLT and PALL).
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Pillar of the Community
United States
586 Posts |
Gold at $1181, Silver at $14.41
All precious metals crashed today, wow.
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Replies: 21 / Views: 4,582 |
Posted 07/12/2018 6:43 pm
