Doomstead Diner Menu => Economics => Topic started by: Eddie on November 02, 2015, 06:27:36 PM

Title: Interesting Action in Gold and Silver
Post by: Eddie on November 02, 2015, 06:27:36 PM
(http://2.bp.blogspot.com/-yKKVuY0U370/VjfQ-gaxXOI/AAAAAAABE9s/1GT0juHs7uQ/s640/golddaily1.PNG)


(http://1.bp.blogspot.com/-4xLWEyDxwmc/VjfQ_nyBWaI/AAAAAAABE94/XQ-7KS91IM8/s640/silverweekly8.PNG)

The metals have been giving back some of their recent gains...but so far, gold is still very much in an up channel...while silver is definitely still in a down channel.  I suppose because silver tends to follow other commodities more than gold does. Copper is moving sideways, but has not found a clear bottom.

(http://www.kitconet.com/charts/metals/base/spot-copper-5y-Large.gif)


The interesting thing is what happens to gold in the immediate future. We should see within several days whether or not gold has actually bottomed, as I had begun to suspect. If gold stays inside the up channel, I think silver will find its bottom soon and turn up too.

What of the G/S ratio?

(http://www.infomine.com/ChartsAndData/GraphEngine.ashx?z=f&gf=137121..&dr=max)

Approaching a level we haven't seen since silver tanked hard a few years back.

Definitely interesting charts, to me.

The thing that has surprised me (not sure why anything should at this point) is that the stock market is trying to rally into the year end, when I (and a lot of other people)  thought it had topped and was due to tank hard. I just can't see how this is happening. I still say a real crash there will pull metals down much more...but if it doesn't happen, we show every indication of being near a bottom in the metals, imho.
Title: Re: Interesting Action in Gold and Silver
Post by: Eddie on November 03, 2015, 10:53:47 AM
Well, I didn't expect it so soon, but the trend line on the gold chart above (courtesy of Jesse) has been broken to the downside already, today.

 A quick dip below the line that recovers and heads north again is not terribly significant, but if gold doesn't bounce hard and immediately, we're probably headed toward a new lower trading range, imho.


(http://www.kitco.com/images/live/gold.gif?0.5617462417576462)
Title: Re: Interesting Action in Gold and Silver
Post by: Eddie on November 04, 2015, 04:49:01 PM
Gold and silver both got taken down again today, which opens the way to a possible drop below the psychologically important $1100 level.

Gold bugs suspect malingering by the Fed, and I expect they're right. But...support has been broken and confirmed, and the expectation has to be for gold to trade in a lower range now, for the next three to four weeks. We'll see, I suppose.

Title: Re: Interesting Action in Gold and Silver
Post by: azozeo on November 04, 2015, 05:38:47 PM
Gold and silver both got taken down again today, which opens the way to a possible drop below the psychologically important $1100 level.

Gold bugs suspect malingering by the Fed, and I expect they're right. But...support has been broken and confirmed, and the expectation has to be for gold to trade in a lower range now, for the next three to four weeks. We'll see, I suppose.


I watch this whack-a-doddle from time to time on Utube because he follows Clif High's
monthly Webbot report which follows bitcoin & the metals. It's a paid service.
Here's a latest sample for your watching pleasure.


http://www.youtube.com/v/9seimUnR8N4&fs=1
Title: Re: Interesting Action in Gold and Silver
Post by: azozeo on November 04, 2015, 05:42:18 PM
http://www.youtube.com/v/x0ETsaS7JTQ&fs=1
Title: Re: Interesting Action in Gold and Silver
Post by: RE on November 04, 2015, 06:49:19 PM
Gold and silver both got taken down again today, which opens the way to a possible drop below the psychologically important $1100 level.

Gold bugs suspect malingering by the Fed, and I expect they're right. But...support has been broken and confirmed, and the expectation has to be for gold to trade in a lower range now, for the next three to four weeks. We'll see, I suppose.

I predicted Gold to go down to $800.  Nobody listens.  :-\

RE
Title: Re: Interesting Action in Gold and Silver
Post by: Eddie on November 06, 2015, 07:27:31 AM
(http://www.kitco.com/images/live/gold.gif?0.5470161028206348)

http://www.youtube.com/v/0hiUuL5uTKc&fs=1
Title: Re: Interesting Action in Gold and Silver
Post by: RE on November 06, 2015, 07:33:58 AM
Nobody Listens.  ::)

(http://vignette2.wikia.nocookie.net/looneytunes/images/f/ff/Wile-E-Coyotes-Gravity-Lessons-1440x900-Wallpaper-ToonsWallpapers.com-.jpg/revision/latest/scale-to-width-down/1024?cb=20141130151949)

RE
Title: Re: Interesting Action in Gold and Silver
Post by: g on November 06, 2015, 08:17:30 AM
Nobody Listens.  ::)

(http://vignette2.wikia.nocookie.net/looneytunes/images/f/ff/Wile-E-Coyotes-Gravity-Lessons-1440x900-Wallpaper-ToonsWallpapers.com-.jpg/revision/latest/scale-to-width-down/1024?cb=20141130151949)

RE

Are you referencing your detailed thread and multi rant prediction of Facepalm going to 1 dollar, or did you mean 101?

Surely not gold prices in dollars are being referenced, gold detractors you and Eddie were singing this same break down song at exactly the same prices around a month ago, right before it's 100 dollar rally, not a peep during the rise from the brainwashed, except for Edward muttering and mumbling half heartedly and a bit sadly about a little short squeeze. . Now that we have give up the rally you start your mumbo jumbo again.

GO not only instructs the dim on golden matters, he also listens closely and attentively to his pupils. You two gents have learned 0 and as such are getting an F for a grade from Professor GO.

No more free lessons outside of the proper thread. Learning proper posting and placement is important, it's known as order and coherence and aids greatly in referencing. Most who do not have ADD, like you gents, understand it's merits.


                                            (http://4.bp.blogspot.com/-29sMMmcajk8/TknOiJX8UvI/AAAAAAAAAsc/ENvfAuO2bRI/s400/adhd-shirt.jpg)


Title: Re: Interesting Action in Gold and Silver
Post by: Eddie on November 06, 2015, 08:30:50 AM
GO not only instructs the dim on golden matters, he also listens closely and attentively to his pupils. You two gents have learned 0 and as such are getting an F for a grade from Professor GO.

I've learned how to occasionally call a turn in the market, because I just called it, starting Sunday night, before it happened. Nobody else did, including you.

I'm just an interested observer here, trying to see if gold will or will not bottom in the near future. It appears that it has not. That doesn't mean it will not, nor does it say anything about the possible upside after that.

Correction: I started this thread on Monday. I was busy marrying the kids on Sunday.
Title: Re: Interesting Action in Gold and Silver
Post by: Eddie on November 06, 2015, 08:43:11 AM
GO, I think you misinterpret my position vis-a-vis gold. I'm not a detractor. I'm trying to be a stone cold realist here.

The world is full of pundits who are really just salesmen and scam artists, and you can spot them because they're always bullish. The stuff they write is therefore worthless.

Title: Re: Interesting Action in Gold and Silver
Post by: Palloy on November 06, 2015, 04:18:12 PM
That was what ZH calls "an epic short squeeze" - US Dollar Index went from 97.96 to 99.15, while UST 10-year yields went from 2.23 to 2.33, oil dropped 45.5 to 44.5, gold dropped, silver dropped.  This is the third major one of these in the past few weeks - THEY are desperate to keep those stock prices up to avoid a deflationary collapse.  But it won't be long now.