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Looks like we’ll have to battle to hold gains today
This will be interesting to say the least.
Volatility is the order of the day, we’ll see if half off from the premarket prices is enough to spark buying/short covering interest or this will be a nasty reversal.
Finally, after so many years, it just might be time to listen to the “stopped clock”=
Finally, after so many years, it just might be time to listen to the “stopped clock”=
Fifty-dollars looms very large. But there’s an old saying about these double-tops. I think they’re made to be broken, and silver is going to break this double-top. And the fact that it’s been there for so long means that when it does break — look out!”
Consider how far silver dropped. You could buy silver for $11 or $12 in March. Peter said he bought some silver coins himself.
Once 50 goes from being resistance to being support, it’s going to be massive support. And it is going to provide kind of like a launching pad for a massive move up in the price of silver.”
Once they’re finished unwinding, that bit of selling pressure on gold is going to be gone, but all the selling pressure on silver is going to be gone because no one’s shorting it anymore. They’re just going to be buying it. And silver has a long way to go.”
Peter said silver’s breakout is a good sign for gold too.
The fact that silver was never confirming the gold bull market, some people saw that as a non-confirmation, and so another reason not to believe in the gold bull market because silver wasn’t participating. Well, now it is. So, you can’t say that anymore.”
So what is the rally in silver telling us? It’s a prelude to the dollar collapse Peter has been predicting for a long time. And he said we don’t have a lot of time.
The bottom is going to drop out of the dollar any day. Gold could go through the roof any day. And so, this is really a race – a race to beat the clock and get people out of the dollar.”
So, what does the silver and gold rally mean? Peter called it a canary in the coal mine.
And the canary is dropping dead.”
Keep your head down Maya!
Rules are being rewritten as Hawaii prepares for a hurricane amid a pandemic
Silver up 1.70–I’m going with “it’s different this time”–that’s because what the FED is doing is new and historical–in 2016–$6 trillion+ wasn’t printed up
in a few months…I consider stocks a tangible just like PMs, art works, real estate, collectible coins and stamps, antiques etc etc People just want their money out of the banks…they see the eventual hyper-inflation…and silver was the last extremely under valued asset…as for stocks, they could go full Weimar too…
Maddog @ 0:34
“an 8 to 10k gold price in a rebalance”
That would be quite alright to me! At the rate they are printing it could end up even higher.
“Silver squeeze” I hope the riggers get their yarbles squeezed off! They deserve it for thinking they are bigger than the market.
Cheers
USD starting to fall again
Nice little tailwind…
Turd Ferguson wrote this some time ago
about limits on silver – looks like $3 is the limit up?
https://investmentresearchdynamics.com/why-is-the-comex-implementing-goldsilver-price-limit-collars/
NAK
still riding a rocket. up twelve and a half percent in premarket on good volume.
treefrog
Silver is really getting going here…just saw it do 60 cents up in six minutes…..
There’s truly nothing like it.
Holy crap – silver up 7.72%
what is “limit up” at the Crimex?
Somewhere I thought 8%?
maddog, 3:42
not to worry, silver’s got most of it back by the time the 8:00 line got to this side of the ditch.
(edit, a little later) …got all of it back, and adding more.
Half expected to wake up and see all the gains lost
and I know I’m not the only long timer tenter here who expected the same…
but lo and behold, we still have the majority of our gains, never a promise that we’ll keep them throughout the day but always hope this time will be different. 🙂
As the Doc of Wine says “Onward Pilgrims”
Coffee Time ……. Gold ……. New ATH CDN
Gold breaking out in all major currencies, USD will be the last
Overnight, new ATH in CDN $2505
Onward Pilgrims
Winedoc
It is after 8 am and suddenly Ag loses a Dollar
the scum are back.
Dollar catches a bid and they have even let their beloved SM slip, so desperate are they stop Ag.
Ipsofacto
Re Sinclair
A mate of mine has been saying that for a number of years and the more QE done, the higher the price has to go to ‘rebalance’….last time we spoke, he was talking 8 to 10 K.
Re Seeking Alpha…he’s right about a squeeze, but it looks like it is in AG, where u have huge Crimex premiums over spot, Sep is a 32 cent premium to spot, while to right now there is very little Prem in AU ..only a buck. to Aug gold….plus look at the action….classic short squeeze.
$50 silver in 30 days?
It could happen at this rate!
A friend sent me this, saying “the Simpsons predicted it (covid virus) years ago”.
Short and VERY interesting. We are following the script pretty much to the letter so far, but in this episode it was the Zika virus.
winedoc @ 20:19
We’ve got a long way to go. Just got to stay on that Bull!