^^^^^^^ The old Friday Smackdown! Maybe a stall, but we seem to be on an upwards trajectory. We have the ingredients for the rise, to drop, there will need to be a circumstance to change the mix. Perhaps a major sell off of paper metals?
Im still having dreams of spot $675 from the Fibinochi thing but i dont know if thats going to happen or not. Can you imagine how crazy things would be at AU $675? Or even $900 like Dent says? Oh man Id probably sell off most of my guns or tools for gold or whatever wasnt nailed down. Just the thought of it gives me the infamous obama tingle and id back up the truck at warp speed! When people say those predictions they always sound negative or like it would be a bad thing and i just laugh and think i fkn wish!
Gold does seem to be running hot and maybe needs a cool off before the big break? Testing $1900 wouldnt be a bad thing and let AG catch up some. The way premiums are skyrocketing and now delays and minimum $$ orders in effect at most all dealers in the US. Supply and in-stock bullion is only becoming more of an issue. A decent old US Morgan silver dollar on Apmex just above cull now pushing $40. The way demand is growing may just push it right over the edge and stay running hot for awhile but we are watching another milestone in golds history anyway.
When I feel like I need to sell part of my stash, I just drip feed sales. I might sell few ounces of silver then wait and see. Next month I might sell a bit more if prices rise even further. But I always keep a bit for myself and keep the powder dry for any decent pullbacks. So true as you say, a time might come when pullbacks are so minor that it doesn't matter anymore. That's why you always got to keep a little just in case things do get out of hand.
And there it is, those end-of-week smack down. Being that the good ship Lady Silver has had a good tail wind of late, as has her Golden Sister let’s hope they shrug off this pull-back and that the wind fill their sales again next week.
I wonder if there is more to just investors taking their profits on Friday or some sort of manipulation. The way metals have been travelling, I reckon that prices will slingshot back up and beyond last week’s prices within days. Tuesday morning will tell.
I think its looking for strong support at 2k or possibly 1900 and for the rsi to cool off some so it can really gain strength for the next leg up. Instead of being diasappointed or anxious, just savor every moment its cheap. We all know whats coming and once it breaks all time high it will then be support.
I look at this drop is standard...hedgers hv cashed out and wait for the next wave...so, no panic button is pressed atm...
As the AUD drops a little, London is set to open with New York 5 hours later. Let’s see where we stand tomorrow morning.
Being in PM's is like playing "Snakes and Ladders"....just when ya think PM's are on the way up, ya land on Snake.
There’s a squeeze on platinum group metals at the moment, great opportunity but unfortunately the poor resale market makes me hesitant to participate. Let’s hope their moves are a precursor of what’s to come for silver and gold.
