Talk about a great opportunity to top up here, both TA and FA point to higher prices sooner or later, hold tight!
^^^^^^^ Can we have a definition of "Sooner" & "Later"....asking for a friend who's part of a large group of like minded people on this big blue marble who have been waiting for the "Second Coming of Christ" for sometime now......Ask the faithful when the Baby Jesus will make an encore appearance and they'll say "Sooner or later".....Gonna need a bigger cup of tea.
I'm in no rush, enjoying the show actually...not really a gold/silver bug either, so not blindly awaiting coming of Christ or Baby Jesus ect.... just looking at the macro...seems obvious to me...not really a PM bull market just a steady debasement of fiat currencies, all IMO
Bullion for me nowadays, I made and lost plenty on stocks. People in stocks, esp CEO's will always tell how the potential gains are more...ie. you can leverage the silver/gold price , higher gold/silver price goes directly to AISC will magnify gains, however what they don't tell you is you need a very competent management team, project, etc many many variables to harness the gains, that's why less than few percent of projects actually end up mining anything from the ground, the execution risks are enormous.
Gold is probably going down. Listen to Gary Wagner's subtle negative sentiment on Kitco. Because Gary works for permabulls, he always radiates a soft nervousness when attempting to withhold his negative feelings, when he feels gold will actually go down. Lower lows and lower highs, gold is most likely going further down. I think we're going to see the lower 1700's before we see 2000 $ again.
We'll see. IMO It may be going down in shorter term, but new highs longer term. Most of Kitco guests are rubbish.. peter hug, frank holmes, etc.., talking their book or Kitco's book. Gary is ok if you wanna see nice things in the background, other than than IMO usual garbage. Lyn Alden a recent exception though, Luke Gromen, etc.. Let's see, I'm in for the long haul. 2020 was crazy, let's see how this year plays out !
^ Kitco is a permabull's nest. But I happen to have a better opinion regarding Peter Hug. I've listened to him many times and happened to have right on many occasions. He also provided some original insight.
One year ago Gold was in the 1600's. Just to remember how low we were and where we could go, if the cascade keeps going down. I am not sure it's just sell-off, but also weakened buying appetite that's causing the drop.
Most of the commentary is super bearish, stockmarket at ath's, cryptos in vogue, risk is on, those who want to sell probably capitulated already.. no talk of lambo's or moons.. printer still going brrrr... basil 3 repeatedly extended whilst naked shorts/paper help 'em get organised.. I feel not much longer until until we go back up. Enjoy the ride.
Gold's price went all the way down to around 1720 $. It might be trying to "bounce", but I doubt it could seriously rebound from here. As we enter the spring, we will see even sub-1700 $ gold.
My fib say 1640-1670 as major support if we slice that 1560-1545 is next and 1460-1435 for 62% weekly retracement should hold if bull cycle intact. watching price action and volume played by market at my level. 1560-1545 is interesting level but i be flexible to market if changes happen. **this is not for trading advice ** Good luck every one.
