Is this the bounce???
Proofmorgan
Posts: 935 ✭✭✭✭✭
The other price discussions seemed to have gone sideways so hoping to get back on track....
It looks like we are pushing back to $90 silver and $5k gold. Is this the start of the dead cat bounce before another Friday nose-dive?
I'm personally planning to sell off a bit this week if we don't retreat back before I'm off on Friday.
Collector of Original Early Gold with beginnings in Proof Morgan collecting.
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Comments
New all time high before the Fourth of July
The optimistic side of me wants to believe that, but this is eerily similar to the 1980 and late 2000s chart action. I believe the floor is elevated going forward, but I do think this will retreat again before the slow rise.....as history repeats itself.
Disclosure: I was personally holding out short term for $120-$150 before to dive last Friday. That action has me reevaluating my strategy.
If the calls for a dead cat bounce verify this looks the part on the chart. BUT, I don't see it. Too much momentum going for silver in the long run this go around, IMO.
COPPER is gutter !
At the moment the cat appears to be very much alive.
Based on what I’ve heard over the last 48 hours the fundamentals for a continued price increase for physical silver are still in play. The rug got pulled out on paper but the realities regarding physical (increased demand with no immediate means to meet that demand) hasn’t changed. Silver eagles over $100 and gold over $5,000 on one well known dealer’s website this morning.
There was a speculative Chinese ETF that was part of the buying frenzy because shorting it wasn't allowed and the price was only going up, but the crash removed its influence from the market.
The difference between the China vs. US market prices has dropped to only about 6% which is a good sign for the market.
It's too early after the flash crash to know the market direction, so it might be better to wait until the market stabilizes, but you can always shop around a bit.
I knew it would happen.
Cats have 9 lives. Never assume they are dead. The cat comes back is an immortal saying.
My US Mint Commemorative Medal Set
Hopefully the big shorts who had to be rescued with a crash in spot have learned not to make that mistake again. If they did we will see much higher prices.
When gold and silver move together, it signals the coming end of fiat money.
Where do you get this nonsense ? Do you just make it up to justify talking your book ?
All these mysterious gains or losses for the "bullion banks" and NOBODY ever sees these magical sums.
It's Q4 reporting season. How come nobody sees these losses that almost "bankrupted" these banks ?
Looking around at the environment, the 'frothiness' toward PMs has been 'enthusiastic' but still doesn't seem close to what I saw from public/retail back on the last spike up to $50.
If the silver arguments are still in play from an industrial side, I think there's room to go.
The 'peak' up to 120 honestly doesn't even seem like it was that insane since there was some consolidation around 80-90 beforehand.
And that's your "professional" opinion for the 41% price crash between Thurs. and Fri. last week? Maybe it was buyer remorse. LOL
Somebody was rescued from losing even more money and somebody made more money. It's that simple.
When gold and silver move together, it signals the coming end of fiat money.
A Chinese trading firm lost $145MM in PM trading and disappeared last week stiffing their counter-parties. When that happens, traders get nervous thinking there is another shoe to drop, and maybe its their counter-party next so everyone dumps. Now PMs appears to be back on track since there were not others that suffered big losses.
high odds there were more. We don't know about them because in some fashion they were rescued.
When gold and silver move together, it signals the coming end of fiat money.
Probably overseas, but doubt in USA. Do you think anyone here in government & institutions can keep a secret. It would be all over the news.
not necessarily. we weren't aware of a bank crisis in 2008 until it blew up. You will know "it blew up" with PMs when COMEX fails to deliver.
When gold and silver move together, it signals the coming end of fiat money.
You heard about the insanity at FUN 2026, right ? Attendance on Day 1 was over triple the usual amount.
We saw the losses for months and quarters...we got the first whiff in August 2007 (Cramer's Famous Rant)....Fannie and Freddie were down huge by Spring 2008.
COMEX is not going to fail to deliver. That's like saying I'll know investing in financial assets is a loser when the asteroid hits Earth.
Silver tripled in a year. There should be huge losses EVERYWHERE based on what you have said. No such losses or even rumours. Instead, crickets.
Maybe the places you rely on don't know the banks as well as the guys who have follwed every 10-Q or 8-K for the last 25-30 years ???
Yes, I heard a bunch of wealthy Kryptonians -- who made mega-bucks doing the Feats Of Strength from "SEINFELD" -- helped lend them some $$$.
That's nothing. I remember when Drysdale Securities stuck Chase with a $200 MM loss in 1982 or 1983.
$145 MM compared to the daily trading volumes/amounts is nothing. Except for their counterparties.
That's based on the fact that parabolic moves always end like this. The size of the drop percentage-wise has been exceeded in other markets. It was big, not NOT unprecedented.
Nope, 100% bull. Nobody was rescued. You're just making stuff up.
Dead cat bounce. Hopefully it lasts long enough for us to dump some more of the physical gutter. Busting out the Weimans gutter cream and Tarn-x. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?
At one of the biggest shows in the country annually? YES I did. I'm talking about non-collector general public sentiment. Word on the street. How much average people are getting involved. That's what's interesting for me as a sentiment indicator for my totally professional scientific analysis.
Well, the people who bulked up the Day 1 FUN 2026 attendance and the people I talked to while I waited 20 minutes to get into the show were average ordinary people....NOT coin collectors. They showed up with gold and silver to sell.
When gold and silver move together, it signals the coming end of fiat money.
The higher price created more supply, as it does everywhere.
IF the price goes higher and higher in between dips what happens when this glut of silver gets turned into 1000 oz bars and shipped to China, etc?
On a side note, I wonder, just wonder, how much 90% US Constitutional has found its way into industry size and smaller .999 bars / coins / rounds.
COPPER is gutter !
That is correct. We should all just Warsh our hands of this mess.
``https://ebay.us/m/KxolR5
Gold over $5000 and silver over $90 this morning.
"Gold over $5000 and silver over $90 this morning."
Not anymore!
If $80ish is a popped bubble...I'll take it.
Loves me some shiny!
“Often wrong, but never in doubt.”
At the moment, 90 is looking like the top of the dead cat bounce. Or not. Distrust everyone who is sure they know what's going to happen.
All comments reflect the opinion of the author, even when irrefutably accurate.
45
Not much at this point. That's what's in the backlog at the refiners. They were pushing 999 through to fill the comex orders. That's why a lot of them have stopped buying sterling and 90, or they are buying it at a large discount.
All comments reflect the opinion of the author, even when irrefutably accurate.
Looks like a dead cat
Yeah bouncing down the stairs.
Wouldn't read too much into today's PM decline with the overall market decline and crypto plunge. Sometimes over-leveraged traders have to sell everything to make their margin calls and sometimes even the winners get dumped fast.
look for continued dumping
When gold and silver move together, it signals the coming end of fiat money.
pure speculators dumping longs and going short. the shorts will win huge
this is going back to 45. and now i'm thinking even lower. maybe 20
When gold and silver move together, it signals the coming end of fiat money.
I think the long term trend would favor 40. But i still haven't had the guts to short it. I'm just selling it as fast as i can.
All comments reflect the opinion of the author, even when irrefutably accurate.
lol
COPPER is gutter !
Beginning of the week run up to an end of the week dump seems to be the trend. I plan to sell every Friday on my day off and end up buying instead. Insult to injury is my eBay auctions usually end on Fridays (I list the previous Friday when I'm off).
Lots of selling of everything today.
Deleveraging, liquidation etc.
People have to sell to cover, but its a bad day all around.
Silver is a tangible asset, it's not crypto.
Not always. There is a paper silver market.
Asphalt is a tangible asset also.
All comments reflect the opinion of the author, even when irrefutably accurate.
Asphalt is a store of value....OK.
The post earlier about 40x face being laughed at, we were paying 44 to 45 the past few days, today cannot find a single place buying to make even a small profit. Starting tomorrow, putting the hammer down on buying.
dumping in am, and start fresh for next week
Lol. No. It's a tangible asset.
Silver at $120 was a worse store of value than asphalt.
All comments reflect the opinion of the author, even when irrefutably accurate.
I still have to pinch myself to think a week ago someone was actually paying me $108ozt for rolls of gutter metal. Even yesterday at $88ozt. All I can say to the Reddit pumpers is: Thank you for the gift. PHaT! RGDS!!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?
Gold headed down to 4700 now..wonder if we see 3500 again.
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
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