Not sure I share your enthusiasm about the $36 becoming the new floor in silver, Sammy. We have got to that level many times previously only to come right back down again. We have still got Comex paper silver futures casino running the make-believe house of cards game. And silver is now more of an industrial metal than a monetary one these days, so with weakening demand in that sector prices might struggle to go higher.
Are you seeing a floor that you think is likely for silver then or do you think it more likely they it will just float around n the doldrums at the mercy of whatever forces have been keeping a lid on it? There is no doubt a good deal of apathy and fatigue among people who invested in it in the last decade. It’s such a tricky thing to understand, given the current world economic situation I would have expected a lot more movement in either direction for both metals.
Well if you had bought pm coins at ath youd be just fine right now. Cant say that about the aircoins!
We speak of the doldrums, but both silver and gold are up AUD 60% since January 2020, 20%pa ain’t half bad. Until I find something better to do with my spare cash I’ll just keep DCA, preferably on the dips, then blow the profits on cocaine and hookers. Hopefully I won’t get a bad batch, of either.
US launches airstrikes in Syria & gold does jack squat! This a sign of the times, that it is not geopolitical and military issues that are driving gold now but financial instability issues.
Syria is old news Ukraine will be too soon, they've already renamed Bakhmut so everyone forgets how "strategic" it was. Waiting for the next hot zone, too early for Taiwan or Iran so not sure where.
Yeah something to hurry AUKUS along, there was a report of a US naval ship being warned away by the Chinese last week I think.
^^^ gold is in uncharted territory…spots UP, but AUD DOWN…two magnets going on opposite directions…I’m betting on $3100AUD, close of business (US) eitheyway, me likey…likey…
Both metals performing well today in AUD. The good ship silver briefly got into the 35's, gold above 3k again for a short time.