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Metals have been strong lately. What's the deal?

jmski52jmski52 Posts: 22,854 ✭✭✭✭✭
in Precious Metals
The precious metals seem to have some wind at their back lately. This isn't normal. Is there something going on besides the usual BS?
Q: Are You Printing Money? Bernanke: Not Literally

I knew it would happen.

Comments

  • cohodkcohodk Posts: 19,129 ✭✭✭✭✭
    Prices are where they were 6 months ago. Still a sideways trade. If you are looking for a reason, and I strongly suggest you do not, then maybe look that the dollar index has dropped from 100 to 93.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • MsMorrisineMsMorrisine Posts: 33,088 ✭✭✭✭✭
    Dollar moves
    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • cohodkcohodk Posts: 19,129 ✭✭✭✭✭
    Remove the bias from your question, "this isn't normal", and I believe you will see with much more objectivity.

    The trading pattern of the metals is completely "normal".
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • jmski52jmski52 Posts: 22,854 ✭✭✭✭✭
    It's not normal for the metals to move upwards. They're acting like a real market acts.

    I should've said, "that's not the new normal". My bad.image
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • cohodkcohodk Posts: 19,129 ✭✭✭✭✭
    Bear markets tend to be associated with declining prices. image

    Bear markets then evolve into consolidating markets.

    All is 100% normal.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • JustacommemanJustacommeman Posts: 22,847 ✭✭✭✭✭
    I would love to see gold hold over 1200 for a few more days

    Mark
    Walker Proof Digital Album
    Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭


    << <i>I would love to see gold hold over 1200 for a few more days

    Mark >>



    You might get that. But today's SoS list (WSJ) had GLD at -$33 MILL. So a pull back is somewhat likely during tomorrow's OpEx. On the plus side is the weekly GDX chart where it has been tracking between the 18 week Boll Bands quite well for the past 2-3 years. It's now 9 weeks off the lower bands just like the last rally from Nov-Jan. And if the 11 week cycle plays out, the upper band gets tagged in 2 weeks ($22+). With miners leading the past few months, gold will probably follow them if they go up to $22. Gold getting to $1228 will probably pop it right up to $1242-$1249. GSR took quite a dump today. Don't know if it's eyeing the gap down around 67 or is about finished with this 8-9 week cycle. It's certainly about as extended as it normally gets. Decent support at 67.

    gdx weekly

    GSR - daily NY hours
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • Catch22Catch22 Posts: 1,086 ✭✭


    << <i>Bear markets tend to be associated with declining prices. image

    Bear markets then evolve into consolidating markets.

    All is 100% normal. >>



    I think I'll have a jelly donut.


    When we are planning for posterity, we ought to remember that virtue is not hereditary.

    Thomas Paine
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,294 ✭✭✭✭✭


    << <i>The precious metals seem to have some wind at their back lately. This isn't normal. Is there something going on besides the usual BS? >>


    The market has spoken. (it burps, farts, trips, stumbles, grows, adjusts, retracts, collapses (for some it dies…), etc., )
    The floor (Ag, as I recall)… was around last November ('14) when the fat lady sang, on the "downside". I won't name names or exact dates.… It was about $15.50 for the silver, or thereabouts.
    Let's just say 'she was the consummate _ _ _ _ _'. As a marketable thing…. The memo was put out, but many weren't listening then. Maybe they will see it now.
    Same thing happened in 2007 around November. Except $15 was the new ceiling ( high) … and who would have thought after 8 years it would be the floor ?… or low ? (IIRC this is about the time frame. ).


    And before that took about 25 years to go from $5 to $15. (Hunt Bros circa 1980 to 2007) And lets' face the fact that Kodak which used it so heavily in photography was slipping into oblivion with the introduction of digital photography. So the companies have to "change" with the times. Such is life. Now photography is a whole new concept.

    But historically, … this is "normal". Perfectly normal. It's all within range and hopefully still in some of the smart guys' reach & sights. Who's lost focus ? The market has ups and downs… as does about every commodity in it. It's nice just enjoying the coins. The market is kind of brutal.

    It's to the cherry picker's delight, though.

    A bit off topic, though:
    The Pogue Auction is about to be going on…and I have to remind myself : "Be still, my heart".
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