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Look out below when the market opens

zski123zski123 Posts: 256 ✭✭✭

I think we'll see a big move down when the spot market opens Sunday evening. The trade truce between US & China will take gold back a couple of % points I'm guessing. Any thoughts?

Comments

  • tincuptincup Posts: 4,748 ✭✭✭✭✭

    No idea! I have realized quite some time ago my ability to predict precious metal prices as related to world events never seems to work out....

    ----- kj
  • rickoricko Posts: 98,724 ✭✭✭✭✭

    Anything could happen.... the market has been flip flopping like a fish out of water....Cheers, RickO

  • johnny9434johnny9434 Posts: 27,413 ✭✭✭✭✭

    who knows for sure. I was up on the mints web site prices were up. would be nice to see it come back down

  • zski123zski123 Posts: 256 ✭✭✭

    @ricko said:
    Anything could happen.... the market has been flip flopping like a fish out of water....Cheers, RickO

    No truer words spoken.

  • tneigtneig Posts: 1,505 ✭✭✭

    Why I don't feel bad for selling some silver this weekend.

    @zski123 said:
    I think we'll see a big move down when the spot market opens Sunday evening. The trade truce between US & China will take gold back a couple of % points I'm guessing. Any thoughts?

    COA
  • derrybderryb Posts: 36,118 ✭✭✭✭✭

    Consensus is equities will respond positively, but let's not forget the were recently driven higher based on an expected fed rate reduction. Easing tensions in China trade removes some of the pressure the fed was feeling. They may renege on their lower rate jawboning causing a major drop in equities.

    The decline from democracy to tyranny is both a natural and inevitable one.

  • jmski52jmski52 Posts: 22,315 ✭✭✭✭✭
    edited June 29, 2019 2:42PM

    The on-again, off-again trade deal? Make no mistake, the BRICS, and Europa want away from the dollar and have been working on an alternative for years. Their main problem is that they all have competing interests amongst themselves, and the US is still the most stable place on the planet in many ways.

    The question concerning precious metals is how they relate to value in the world of international trade. The answer is that a debt-based system goes corrupt in all directions after awhile, and that money creation should be somehow constrained.

    Since land ownership can't be traded amongst sovereign countries without a war, gold and silver in a convertible instrument of some sort might be a partial solution to trade imbalances and valuation across borders. What always happens is that when a country starts getting ahead because of having it's act together, nobody else likes paying more for it's output and the pressure builds for a reset. Once a place becomes top-heavy in cool assets, someone wants to take it away - for free.

    That's why they invented nuke MIRV warheads on ICB missiles as one heck of a deterrent. The old debt-based system isn't working because the math is used up. And here we are - without a good way to reconcile differences in productivity across borders. Paper vs. Gold. I'll take the latter - while the rest of the world makes up its mind.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • bidaskbidask Posts: 13,844 ✭✭✭✭✭

    The breakout over the 1350-1375 spot is solid and should hold on any pullback

    I manage money. I earn money. I save money .
    I give away money. I collect money.
    I don’t love money . I do love the Lord God.




  • YorkshiremanYorkshireman Posts: 4,493 ✭✭✭✭✭

    That may happen quickly and short term but there has been a positive chart signal that indicates the path of least resistance is up.

    Yorkshireman,Obsessed collector of round, metallic pieces of history.Hunting for Latin American colonial portraits plus cool US & British coins.
  • LukeMarshallLukeMarshall Posts: 1,900 ✭✭✭✭✭

    No new tarriffs but continuation of the previously levied.

    Some trade concessions from both sides
    -US non sensitive hardware to Huwai
    -China buying larger agricultural amounts.

    Resume discussion of trade talks...

    How long before a comprehensive deal is hammered out?

    Central Bank policies and other geo-political risks makes this an ever changing environment.

    Gold is seen as a safe Haven by many, and some marketiers trend anylist would say a retest of a previous resistance line builds a firmer base for a continuous bullish pattern. I would venture to say that most people reading a precious metal forum are bullish in some regard. Many would welcome the chance to add on a dip in prices this week.

    It's all about what the people want...

  • jmski52jmski52 Posts: 22,315 ✭✭✭✭✭
    edited June 29, 2019 4:02PM

    Here's the basic problem when governments use massive amounts of debt as money - and it's a nasty problem:

    https://www.zerohedge.com/news/2019-06-29/how-beijing-uses-fake-money-cannibalize-us-transit-market

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • blitzdudeblitzdude Posts: 5,376 ✭✭✭✭✭

    Iran, dovish fed, out of control debt, no reduction in current Chinese tariffs, stable genius in the white house, Russians taking control of the country. Golds good, I wouldn't be too concerned about a sudden knee jerk reaction. Semper Fi sheeple, congrats!! lol

    The whole worlds off its rocker, buy Gold™.

  • derrybderryb Posts: 36,118 ✭✭✭✭✭

    gold: hard fall. . .

    but it will come back, just not right away.

    The bull is still in the china shop.

    The decline from democracy to tyranny is both a natural and inevitable one.

  • ARCOARCO Posts: 4,305 ✭✭✭✭✭
    edited June 30, 2019 12:15PM

    @zski123 said:
    I think we'll see a big move down when the spot market opens Sunday evening. The trade truce between US & China will take gold back a couple of % points I'm guessing. Any thoughts?

    Well, I tend to think it was the dual threats of military action with Iran and Powell cutting rates. Trade with China is positive for the economy and stocks. It seems that inflation fears and uncertainty are what drive Gold more than a high octane fuel dropped onto the stock markets.

  • coinpalicecoinpalice Posts: 2,435 ✭✭✭✭✭

    it will be over 1,500 by New Years, that's all that matters to me

  • derrybderryb Posts: 36,118 ✭✭✭✭✭

    here we go:

    The decline from democracy to tyranny is both a natural and inevitable one.

  • KindaNewishKindaNewish Posts: 827 ✭✭✭✭✭

    Meh.
    It looks like we won't see $1350, much less $1300 again.
    Just a bit of a haircut, but it seems that $1390 or so is strong now. Might take another dip when NYMEX opens and some stop-loss orders are filled, but I think we're fine.

    At least my massive 10.5 oz hoard of Eagles is fine (91.67% fine)

  • meluaufeetmeluaufeet Posts: 746 ✭✭✭

    BTC getting chopped up also.

  • jmski52jmski52 Posts: 22,315 ✭✭✭✭✭

    Whap! Thud! Bam! owwwwie.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • OPAOPA Posts: 17,104 ✭✭✭✭✭
    edited June 30, 2019 7:26PM

    Yup...not a big surprise. The "big boys" suspected a "haircut was a commin" last week & acted accordingly.

    https://forums.collectors.com/discussion/1021791/100-ase-below-2-50-over-on-ebay-100-maple-leafs-below-2-50-over-4-99-over-gold-leafs#latest

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • donjaludonjalu Posts: 64 ✭✭✭

    @jmski52 said:
    The on-again, off-again trade deal? Make no mistake, the BRICS, and Europa want away from the dollar and have been working on an alternative for years. Their main problem is that they all have competing interests amongst themselves, and the US is still the most stable place on the planet in many ways.

    The question concerning precious metals is how they relate to value in the world of international trade. The answer is that a debt-based system goes corrupt in all directions after awhile, and that money creation should be somehow constrained.

    Since land ownership can't be traded amongst sovereign countries without a war, gold and silver in a convertible instrument of some sort might be a partial solution to trade imbalances and valuation across borders. What always happens is that when a country starts getting ahead because of having it's act together, nobody else likes paying more for it's output and the pressure builds for a reset. Once a place becomes top-heavy in cool assets, someone wants to take it away - for free.

    That's why they invented nuke MIRV warheads on ICB missiles as one heck of a deterrent. The old debt-based system isn't working because the math is used up. And here we are - without a good way to reconcile differences in productivity across borders. Paper vs. Gold. I'll take the latter - while the rest of the world makes up its mind.

    At Zerohedge 6-28-19
    "With the world waiting for the first headlines from the Trump-Xi meeting, the most important and unexpected news of the day hit moments ago, when Europe announced that the special trade channel, INSTEX, that will allow European firms to avoid SWIFT and bypass American sanctions on Iran, is now operational.....".

    This should be interesting for the precious metals.

  • MsMorrisineMsMorrisine Posts: 32,139 ✭✭✭✭✭

    look out above.

    gold climbing during the day. almost $1400 on the futures.

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • OPAOPA Posts: 17,104 ✭✭✭✭✭

    @MsMorrisine said:
    look out above.

    gold climbing during the day. almost $1400 on the futures.

    I must have missed that B)

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • CaptHenwayCaptHenway Posts: 31,502 ✭✭✭✭✭

    Statistically, what are the odds that any deal announced by the current administration will fall through?
    What is its track record?

    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • YorkshiremanYorkshireman Posts: 4,493 ✭✭✭✭✭

    Ignoring the outside noise and watching the charts is suggested if you care about more than a one day move.

    Yorkshireman,Obsessed collector of round, metallic pieces of history.Hunting for Latin American colonial portraits plus cool US & British coins.
  • selling3selling3 Posts: 166 ✭✭✭
    edited January 18, 2021 9:45AM

    -

  • selling3selling3 Posts: 166 ✭✭✭
    edited January 18, 2021 9:46AM

    -

  • OPAOPA Posts: 17,104 ✭✭✭✭✭

    @selling3 said:
    Avi Gilbrt @seekingalpha.com called it right again. This guy is scarey accurate.

    https://seekingalpha.com/article/4272796-sentiment-speaks-depress-price-gold

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • jmski52jmski52 Posts: 22,315 ✭✭✭✭✭
    edited July 2, 2019 8:47AM

    What's this? A rebound? Back up +$19.20

    The debt market speaks.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • blitzdudeblitzdude Posts: 5,376 ✭✭✭✭✭

    Bullish trend continues. Stack on.

    The whole worlds off its rocker, buy Gold™.

  • MilesWaitsMilesWaits Posts: 5,301 ✭✭✭✭✭

    Bullish Bullion BBaby. Give me some Independence Day, now.

    Now riding the swell in PM's and surf.
  • OPAOPA Posts: 17,104 ✭✭✭✭✭

    @blitzdude said:
    Bullish trend continues. Stack on.

    Maybe for Gold....but Silver..who knows what's going on...it's not on the same "wave length." :/

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • coinpalicecoinpalice Posts: 2,435 ✭✭✭✭✭

    I see a 15 percent off everything coupon coming on the 4th

  • TwoSides2aCoinTwoSides2aCoin Posts: 43,796 ✭✭✭✭✭

    A prognosticator, I am not. But I do predict the market will never close in our lifetime. Which means people will continue going to it. And that means "up".

  • OPAOPA Posts: 17,104 ✭✭✭✭✭

    @coinpalice said:
    I see a 15 percent off everything coupon coming on the 4th

    I'm looking for it....but can't seem to find it. ;)

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • OPAOPA Posts: 17,104 ✭✭✭✭✭

    @zski123 said:
    I think we'll see a big move down when the spot market opens Sunday evening. The trade truce between US & China will take gold back a couple of % points I'm guessing. Any thoughts?

    China was a no happening, but a good jobs report ... bad for PM's

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • derrybderryb Posts: 36,118 ✭✭✭✭✭

    There will be no rate cut in July. Look for equities to take back their priced in gains.

    The decline from democracy to tyranny is both a natural and inevitable one.

  • OPAOPA Posts: 17,104 ✭✭✭✭✭

    Agree, it's unlikely we will see a rate cut in JULY, but on the other hand, I see no reason for equities to take back their gains. Where else would speculative investors park their money for a potential reasonable gain? B)

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • cohodkcohodk Posts: 18,558 ✭✭✭✭✭

    Im rotating crops since not all fruits ripen simultaneously.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • blitzdudeblitzdude Posts: 5,376 ✭✭✭✭✭

    @cohodk said:
    Im rotating crops since not all fruits ripen simultaneously.

    That's for sure and I feel the pain! I've got eggs, tomatoes and black raspberries flowing out my ears but the walnuts, apples and peppers are non existent. lol. Praise the lord for canning!! Semper Fi!!!

    The whole worlds off its rocker, buy Gold™.

  • OPAOPA Posts: 17,104 ✭✭✭✭✭

    @derryb said:
    There will be no rate cut in July. Look for equities to take back their priced in gains.

    Do still believe that? I'm beginning to think that a rate cut is coming ...

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • derrybderryb Posts: 36,118 ✭✭✭✭✭
    edited July 22, 2019 4:34PM

    @OPA said:

    @derryb said:
    There will be no rate cut in July. Look for equities to take back their priced in gains.

    Do still believe that? I'm beginning to think that a rate cut is coming ...

    still believe it, only one week left to cut those rates in July. June and thereafter is a completely different story.

    NY Fed's Williams says they need to be cut to 0%:

    "If the Fed cannot get this situation under control, there’s $555 trillion in derivatives at stake. Yes, TRILLION with a T.
    Something BIG is coming and the Fed knows it."

    DB failure is a big part of it.

    The decline from democracy to tyranny is both a natural and inevitable one.

  • blitzdudeblitzdude Posts: 5,376 ✭✭✭✭✭

    Cut them, raise them, print more money, create more debt, bankrupt the country who cares. Self sufficient and I sleep like a baby. Doesn't matter who is running YOUR gooberment, they all have the same agenda. Wake up peeps!

    The whole worlds off its rocker, buy Gold™.

  • OPAOPA Posts: 17,104 ✭✭✭✭✭

    @derryb said:
    There will be no rate cut in July. Look for equities to take back their priced in gains.

    Time to trade in your crystal ball.

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
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