Turning point for GSR?

revoldlog · April 29, 2011 3:27AM

Over the last several days I notice silver was started losing its momentum, while gold was still very solid.

When watching the real time steaming quote, I feel silver is very weak and have a gut feeling that some big players is closing their long position around this level.

Today, it is very obvious that gold outperforms silver. (when was the last day it happened? Aug/Sept last year?)

I think Gold will be the spotlight again. What do you think?

jmski52 · April 29, 2011 3:56AM

I think that "the other 3" precious metals are getting their revenge today vs. silver. Any way you look at the pm ratios, the dollar is the key variable.

Silver isn't dropping - it's just that the other metals are getting attention now.

57loaded · April 29, 2011 5:41AM

40:1 or within a few whiskers seems about a right ratio for me, but it's not there.

if you can (stream) the USD index vs SLV

and do the same for gold and report back!

revoldlog · April 29, 2011 6:04AM

<< 40:1 or within a few whiskers seems about a right ratio for me, but it's not there.

if you can (stream) the USD index vs SLV

and do the same for gold and report back! >>

My account is a forex account, so I can only look at currency pairs, XAU and XAG, but not the USD index.

In terms of individual currency, I also feel the EURO and CAD are also getting weaker versus both dollar and gold.

roadrunner · April 29, 2011 6:11AM

Silver was under pressure all day from the banksters trying to keep delivery notifications to a minimum. And they really couldn't even successfully hammer
silver down until after Comex hours. There might still be additional pressure on Monday. Silver has formed a bullish cup with handle over the past several days.
With gold already leading the way, I suspect silver will break out of this end of month consolidation pattern and head to $53. Next week should be stronger for silver.
This past week was crazy. Note also that with today's Royal wedding the London markets were closed as well.

roadrunner

Bear · April 29, 2011 6:47AM

What is happening with corundum, graphite and Antimony investments?

cladking · April 29, 2011 6:49AM

Gold is on its way to $2100 in the short term.

Nothing has changed with silver and it will have a 12: 1 ratio to gold in the intermediate term. By that
time gold might be up to $6000 but I'm not making any predictions yet. A lot depends on future events
and especially on what government does about spending.

jmski52 · April 29, 2011 6:54AM

Silver has formed a bullish cup with handle over the past several days.

LoL, a CNBC talking head was just saying that silver isn't confirming gold's rally and that has implications for the "risk on" trade in pms.

Or, as roadrunner said - it was "the banksters trying to keep delivery notifications to a minimum."

I know who I find more credible.

mhammerman · April 29, 2011 6:57AM

I also like a 40 GSR as a baseline measuring starting off place. Friday's close would suggest that if gold wasn't running, it certainly was recovering nicely. A 32 GSR is smokin' as is silver; it's kind of amazing that silver is at 48...jezzzzzz...48? Gold over 15 and a half...go, baby. The 40 year mean for the GSR is 54.03 Last time the GSR closed below 30 was 1980...woah, did I just type that? Historical GSR chart

So, a tube and a half and a couple more ASE's gets you a GAE...interesting.

Got GOLD?

Got HOCKEY PUCK?

roadrunner · April 29, 2011 7:24AM

jmski52, the banksters have been tossing everything in the world at silver this week to keep it from going back to $50. It was a do or die week. Read TF's comments
that I posted in the trading thread to give an idea of what was needed to keep silver from following gold the past 2 days. Next week is a new month and a new contract
so the banksters get to live another month. And once again, the "dumb" trade of giving up a scarce 100 oz silver bar for 3 crappy AGE's, again turns out to be the smart
trade.

As long as gold is moving up, the risk/PM's trade is on. Plat and Pall are confirming gold's actions. Plat once again has its sights on $2100-$2200. Let's see if it can finally
pull it off. Copper's movements were not confirming as well, but I think it just double bottomed in the short term. It normally would have headed off with the general stock market.
Still working on trying to extricate itself from that 5 yr neckline at $4.00. If that H&S ever blows, copper is headed to $7.50+.

roadrunner

derryb · April 29, 2011 7:28AM

I think that the fact that it keeps getting beat down from $50 means that silver is very much in the spotlight. Hopefully they will fire all their ammo to prevent it. And when they run out of ammo.............

pmac · April 29, 2011 7:44AM

I know that silver has slowed down compared to the previous days and that gold has sped up, but silver was up over 2% and gold was up under 2%.

revoldlog · May 1, 2011 10:03AM

GSR is now backup to 34.88.
How far can it go?

Wingsrule · May 1, 2011 10:11AM

It broke 36 for awhile earlier this evening.

revoldlog · May 4, 2011 1:26AM

38.5 now and keep going.

My GSR ratio is 1:10 by weight. I am waiting for an entry point to acquire more silver to balance my GSR.

I think I will start adding silver when GSR reach 45 or if I can buy an ASE below $38.

I still remember around 1 month ago an ASE can be brought for $40 dollar. With the "BIG" correction happening this week, a silver eagle still cost $45!

DoubleEagle59 · May 4, 2011 2:01AM

In the recent past, the GSR went from 60:1 to 30:1 in a perfect straight line.

It has to 'correct' a little.

Maybe it'll rebound to 40:1 or as high as 45:1.

Long term, I still see the GSR going lower, possibly to 20 to 25:1.

cohodk · May 4, 2011 10:40AM

<< Silver has formed a bullish cup with handle over the past several days.

LoL, a CNBC talking head was just saying that silver isn't confirming gold's rally and that has implications for the "risk on" trade in pms.

Or, as roadrunner said - it was "the banksters trying to keep delivery notifications to a minimum."

I know who I find more credible.

>>

jmski52 · May 4, 2011 10:46AM

I'm guessing that the banksters didn't have many problems with physical delivery on silver contracts this past week.

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<<crickets chirping>>

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revoldlog · May 4, 2011 10:36PM

GSR is 40.11 now

OPA · May 4, 2011 10:49PM

<< Over the last several days I notice silver was started losing its momentum, while gold was still very solid.

When watching the real time steaming quote, I feel silver is very weak and have a gut feeling that some big players is closing their long position around this level.

Today, it is very obvious that gold outperforms silver. (when was the last day it happened? Aug/Sept last year?)

I think Gold will be the spotlight again. What do you think? >>

You were right on with your summation...

derryb · May 13, 2011 10:27AM

"the GSR is determined by the price action of gold and silver; the price action of gold and silver is not determined by the GSR."

Casey Research provides an excellent essay on the GSR

roadrunner · May 13, 2011 10:37AM

<< 

<< Silver has formed a bullish cup with handle over the past several days.
LoL, a CNBC talking head was just saying that silver isn't confirming gold's rally and that has implications for the "risk on" trade in pms.
Or, as roadrunner said - it was "the banksters trying to keep delivery notifications to a minimum."
I know who I find more credible.

>>

>>

Sorry Cohodk. My margin rate hike crystal ball was only predicting a couple of hikes....not 5. I just sent it back to the shop for a tune up.
And worse yet, I didn't expect them to dig up Bin Laden and kill him all over again while Britain and Asia were on holiday. Perfect plan for a perfect storm.
I'm gonna have to study the anti-Bunker Hunt playbook to see what to expect next.

Wonder why they waited until late Sunday night to announce the OBL news? Hmmm..........

But it's still a cup and handle....albeit with one heckuva long handle.

roadrunner

cohodk · May 13, 2011 11:00AM

Im just bustin on ya, roadrunner. Heck, I thought Bin laden was dead 5 years ago.

The margin rate hikes should not have surprised anyone. It had gone parabolic. It moved $8 in 8 trading days. People complain about the banks having 50:1 leverage, yet thats exactly what happened in the silver pits. Investors can complain about the number of hikes, but not about being up 14 of 16 days for a 50% gain?

Silver needs to hold this weeks lows.

Turning point for GSR?

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