Short term Gold/Silver Thoughts

Feduptryingnames

Feduptryingnames

Member
I'm new to Gold and Silver investment and wondered what you guys think the price will do over the next 3-6 months.

I was fortunate to get a small intro into Silver @ $21.50 aud a few weeks back but missed the Gold price plunge due to lack of funds in the correct place to buy.

I now have the funds available but I'm unsure whether to buy now or wait a bit to see if the current spot prices will pullback.
I appreciate getting physical will be hard at presentbut I'm happy to buy unallocated or pooled until the availability is better.
I will be buying through the Perth mint.
 
There's only about 2 people on this forum who will say "down" so its a bit of a loaded question to ask on a PM forum like this.

I personally think we are facing a phase of money printing and lots of "stimulus" which is likely to drive inflation and the price of gold right up. It's always good to see new members here, but out of curiosity - What was the tipping point for you to make the decision to start buying Silver a few weeks back?
 
BuggedOut said:
There's only about 2 people on this forum who will say "down" so its a bit of a loaded question to ask on a PM forum like this.

I personally think we are facing a phase of money printing and lots of "stimulus" which is likely to drive inflation and the price of gold right up. It's always good to see new members here, but out of curiosity - What was the tipping point for you to make the decision to start buying Silver a few weeks back?
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Hi Bugged out, the reason to diversify was simple too much cash at the bank getting very little interest. Tipping point was the price drop on Silver/Gold and the Fiat money being printed which will ultimately devalue the cash I have.
 
It sounds like you are well on your way to figuring things out. Congrats and welcome.

Have a read through some of the forum here as there is a pretty knowledgeable community and there is lot to learn. I've been here on and off for near 5 years and still learning. The answer to your question is here. The answer to your next question is probably also here ;)
 
Hi @Feduptryingnames, welcome.

From a TA perspective you can keep an eye on these:

http://www.stockta.com/cgi-bin/analysis.pl?symb=GOLD

and

http://www.stockta.com/cgi-bin/analysis.pl?symb=XAGUSD&cobrand=&mode=stock

Their analysis can jump around a bit from day-to-day probably because it's just an algorithm but it may help you. Basically when the moving averages are below the candlesticks it's likely that prices will continue to rise, until they don't. Then the candlesticks will be intersected or below the moving averages. I'd also do a search on Youtube for a guy called "Between the lines finance". He does gold and macro charts discussion, and has his own Patreon page where he delves into gold stocks etc in more detail, he doesn't touch silver much though.

As far as fundamentals go ignore the gold bulls like Maloney, Schiff etc and places like Zero Hedge.Tread with caution on Silver Stackers :p You'll need to learn about economics and finance as well if you don't already, on youtube is Raoul Pal and his RealVision team (which Nugget's News also covers a bit), he likes gold and is pretty switched on but be aware that the main focus of the free stuff is mainly just to advertise financial advisers, though having said that it's still good shit. And see if you can locate anything free by 13D, free is way cheaper than paying USD15000/year to be a subscriber of theirs. Basically if you can find info from market analysts who also know a bit about PMs then that's the type of information that may help you in what you're after. Graeme Newing is another who makes passing comments on gold though he tends to focus on TA a bit more than fundamentals, but read it together with his thoughts on currencies. His best bit of sdvice is that mainstream market analysts don't understand the fundamentals of gold and silver, so they discount its value. The intelligent debate on silver is fairly absent when compared to gold from my experience. For economics do some reading on the Austrian School in order to learn about free-markets etc, and MMT in order to learn about the mess we live with now. Fee.org, mises.org and cato.org are good resources for Austrian economics, and I like Bill Mitchell's blog about MMT. Don't read The Guardian.

As far as your buying strategy goes the unallocated programs are super handy. Trade pretty much instantly without having to store and handle physical. The other choice is digital products like Ainslie's Gold/Silver Standard or even ETFs on the ASX. The potential upside of ETFs and shares can be multiples of any rise in spot price.

And if anyone tries to convince you to buy silver instead of gold based upon such things as comparing above ground resources between the two PMs or passing comments about silver's long historical use as a currency, just ignore them too. That's pre-school stuff.

Good luck. I hope you don't lose too much $$ as you learn. ;)
 
Hi mmm....shiney! Very good info and thanks very much for that. The old adage of buy low sell high still stands.

I've no intention of loosing money but it can happen so I tread carefully.

I suppose I asked in the wrong place as a silver stackers forum probably would be a bit biased.

Going on history ( not always a good predictor) Silver and Gold should do well in the coming months given the helicopter money being dropped and the current mine closures around the world coupled with a rising unemployment throughout the world.
Time will tell.
 
In the next few months I don't expect to see much net movement. Look at the 2008 crisis as an example. If I recall correctly it took more than a few months for silver to climb some.

It took a couple of years for silver to really get going, and then it crashed... We've been in the mostly under $20 range for years.

This is an unprecedented crisis and things may not be as simple as "helicopter money" and such. We're not going to see hyperinflation. I doubt we'll ever see hyperinflation in a modern developed country. The Austrians have generally been wrong about everything, but maybe their timing was off.
 
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