What the hell is happening to gold and silver?

[Lovecraftian4Paul]

Wow, I just ran through some charts, and commodities are getting blasted hard. Seems rougher this time than the big drops that happened earlier this year which coincided with deep dips on Wall Street. This is starting to feel like three years ago...

Things will get very interesting if the Dow dives below 10,000 again. It's just a number, but I feel like it is the psychological "Great Wall" that stands between the poorly constructed illusion of a recovery and the death of that narrative for the masses.

 

[Revolution9]

I love Ron Paul and the freedom movement -- but you guys (a lot of them on here) who thought gold and silver were going to shoot up forever and ever, and who put most or all of your savings into them are as delusional as the people who thought housing prices would go up until the end of time.

Yeah..right. My business partner invested in au and ag last summer and sold in the spring and used the profits to buy a resort cabin with cash. What were you yakking about?

Rev9

 

[Sweman]

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[Jeez]

Dude, please check your facts before you try to school me on PM's.

Palladium OUTPERFORMED SILVER. Read that again. PALLADIUM HAS OUTPERFORMED SILVER.

5 year time frame.

So the idea that silver had more speculators or was driven higher compared to palladium is false - their performance has been nearly neck and neck, but palladium holds the edge.

Again, the premise that silvers "sell off" is by industry is speculation and not backed by anything empirical or factual.

Hmm you are comparing apples to Orange palladium was at 1200 in 2001 and saw a massive sell off as economy went to recession. If you look at 10 year window silver has far outperformed it. Whether you like it or not silver price will fall and will reach 20 and stabilize in coming months.

 

[pmbug]

So more big margin hikes that forced position liquidation and some got advance insider warning and front-ran the news. That's about the gist here. Yep more paper games. Where's the SEC and CFTC????? (looking at pr0n)

The CFTC is busy trying to circumvent the Dodd-Frank requirement for position limits so JPM et. al. can continue their massive naked shorting of the PM markets.

 

[Seraphim]

Hmm you are comparing apples to Orange palladium was at 1200 in 2001 and saw a massive sell off as economy went to recession. If you look at 10 year window silver has far outperformed it. Whether you like it or not silver price will fall and will reach 20 and stabilize in coming months.

I hope that happens - I just think you're wrong about the why is all.

 

[cubical]

Hmm you are comparing apples to Orange palladium was at 1200 in 2001 and saw a massive sell off as economy went to recession. If you look at 10 year window silver has far outperformed it. Whether you like it or not silver price will fall and will reach 20 and stabilize in coming months.

Sorry, but you don't know this.

 

[JackieDan]

oil is down as well. The U.S. has entered recession again.

 

[D.A.S.]

oil is down as well. The U.S. has entered recession again.

We never left the recession...

 

[Seraphim]

Sadly, the opposite should be true. Lower energy prices should be the indicator of a vibrant economy.

oil is down as well. The U.S. has entered recession again.

 

[TCE]

We never left the recession...

By the Department of Labor's definition we did. GDP went up for at least one quarter over the past year and I believe more than one, and so technically we are not in one. The large number of unemployed would disagree, but hey, I'm sure Paul Krugman thinks it's smooth sailing from here.

 

[yoshimaroka]

Any predictions for monday?

 

[devil21]

Any predictions for monday?

Ill go out on a limb and predict a big gain for both gold and silver as well as other commodities on Monday.

 

[Lovecraftian4Paul]

No clue what will happen on Monday, but I have a feeling metals will see modest gains. Stocks will either go flat or see small gains like on Friday.

 

[QE Is Theft]

Any predictions for monday?

Making day-to-day predictions is nearly impossible.

You just gotta wait and see.

Now, from the monthly S&P chart, it's clearly on the cusp of entering bear market territory, following other global markets.

If it continues going down (which it will, at least for a little while) metals will decline as well because the inflation trade is off.

The dollar is getting much stronger (finally)

And also, as others have mentioned, a BUTTLOAD of margin calls are being issued due all the extreme volalitility.

Traders are subsequently liquidating winners to shore up their losers.

I anticipate this will continue, and gold and silver will continue to decline.

I could see gold going down to $1500, and silver in the mid 20's.

For all you physical longs that bought in earlier, don't worry, don't freak out and sell.

Gold and silver will come back with a vengence.

 

[billjones]

Making day-to-day predictions is nearly impossible.

You just gotta wait and see.

Now, from the monthly S&P chart, it's clearly on the cusp of entering bear market territory, following other global markets.

If it continues going down (which it will, at least for a little while) metals will decline as well because the inflation trade is off.

The dollar is getting much stronger (finally)

And also, as others have mentioned, a BUTTLOAD of margin calls are being issued due all the extreme volalitility.

Traders are subsequently liquidating winners to shore up their losers.

I anticipate this will continue, and gold and silver will continue to decline.

I could see gold going down to $1500, and silver in the mid 20's.

For all you physical longs that bought in earlier, don't worry, don't freak out and sell.

Gold and silver will come back with a vengence.

Hope you're right. I'm still waiting to buy moar phyzzzz

 

[yoshimaroka]

Any predictions for Monday? Going down or up?

 

[jclay2]

Any predictions for Monday? Going down or up?

Who cares whether its up, down, or sideways. Just buy the physical.

 

[Dr.3D]

Who cares whether its up, down, or sideways. Just buy the physical.

Exactly! Paper metals is so disconnected from physical, what the 'paper' charts say is irrelevant.

 

[Lovecraftian4Paul]

Who cares whether its up, down, or sideways. Just buy the physical.

I'll drink to that. You always hear the bulls shout "BUY, BUY, BUY!" when there's a big dip in equities. It would be folly not to apply the same tactic to precious metals.