Metals and Political Events
CRHer700
Posts: 1,876 ✭✭✭✭✭
Though this might sound political in nature, I just have one question: how far do you think silver and gold will drop to price in the recent U.S. election. I can see that they have already taken quite the hit. Any opinions on how far before bottom?
(Don't kill me for this. It is an honest question.)
God bless all who believe in him. Do unto others what you expect to be done to you. Dubbed a "Committee Secret Agent" by @mr1931S on 7/23/24. Founding member of CU Anti-Troll League since 9/24/24.
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hope is driving metals lower. reality will once again drive them higher.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
It is a fair question. I’m wondering myself, with my finger hovering tentatively over that “sell” trigger…
At least silver. Gold is a bit toppy
Gold went up from $2000 in March to $2800 the beginning of Nov. It is/was due for a 10% correction just to regroup. I retired one of my gold sets and sold quite a bit the past 3 weeks to take some profits in the mid 2700's, as I thought it had gone up too fast.
It also now has a head and shoulder top with the head at $2800. I think $2615 or around there is some first good support at the Oct low. Around $2,525 is major support (10% down at Sept. low) and I would expect it to start back up from there. End of year variables also in play now. Good luck.
My US Mint Commemorative Medal Set
hopefully enough to get more silver, jmo
The 10-year Treasury yield is going up on expectations that both nominal GDP growth and inflation will be heading higher.
We've had a major upward move in the 10-year yield in the last 24 hours.....week....and last few months.
I suspect gold will catch a bid shortly. Watch the 10-year yield...unless it drops big-time gold should rebound.
Nothing fundamentally significant to gold or silver has changed.
I knew it would happen.
We did not automatically become fiscally responsible. “Stackin Jacks “ is my motto. And drops (in price) afford opportunities ( in markets).
That's right. I shall use it as a buying opportunity.
God bless all who believe in him. Do unto others what you expect to be done to you. Dubbed a "Committee Secret Agent" by @mr1931S on 7/23/24. Founding member of CU Anti-Troll League since 9/24/24.