Does anyone know why Gold and Silver made huge 30% gains in the first 2 weeks of 2018?
WingedLiberty1957
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I dont remember hearing anything in the news about it but both Gold and Silver made really striking 30% up moves between Jan 1st and Jan 17th 2018. Gold went from $1060 to $1336. Silver went from $13.87 to $17.20. Almost a straight up move on a chart. Any guesses? Was there a big accumulation or big buy by some big players or banks?
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I noted that move as well..... In my non-professional opinion (which is usually wrong) I attributed it to New Year concerns with interest rates and corporate profits. I am wrong most of the time, however, so are the economic pundits - and they get paid for their opinions - mine are free.
Cheers, RickO
These charts are wrong. Silver has not dipped below $15 in a year.
Loves me some shiny!
The charts are way wrong.
I knew it would happen.
Thanks for the info on the charts being wrong. I will check other sources of charts.
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Ahh yes, these two charts posted below say something quite different from the charts I posted in the OP. Damn that internet, it's hard to trust official looking stuff. I got the charts in the OP above from a dealer of bullion (from their website)/ I dont know how one messes up a chart of reality. Maybe the dealer was passing false info along to manipulate buyers??? I dont know.
From the new charts below, the actual bottom was around $15.50 in mid December. The move up after that was more like up 13% from mid Dec to mid Jan. But set in the broader landscape of a pullback. Taking a broader view, the run up simply returned us to levels it was trading at previously. My guess now is that the mid Dec sell off was from either a major holder selling silver or manipulation from selling paper contracts of silver? Not sure how all that works.
Another thought i had is maybe some silver stackers started selling silver to buy bitcoin as that was doing it's exponential rise after thanksgiving. A lot of moving parts
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I think the first set of charts came from Rosland Capital. They look very similar to the ones on their informational ad on Fox News last evening.
https://www.goldeneaglecoin.com/metalCharts
Actually the charts in the OP i got from GoldenEagleCoin. However they probably source the info from somewhere else
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OP's charts are earlier year snapshots somewhere between the "from" and "to" dates selected in the upper right hand corner of each chart. The charts do not show the entire date range selected.
"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
If those charts had been true, I would have a helluva lot more gold and silver right now
You have selected 2015-2018 on your chart, neither metal was ever that low in 2018.
However both metals have enjoyed a nice rise to start the year which has been the case at the start of the last few years. Almost always cools off and dips into the summer doldrums then repeats at the start of the next year.
This year could be different, current administration is raping the country with astronomical debt increase, corporate welfare, starting to look a lot like the events leading up to 2008 and then some. Stock bubble, real estate bubble, crashing usd, cheap easy credit etc.
The whole worlds off its rocker, buy Gold™.
Chart Back 20 years ...
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I like goldeneagle coins I've bought from them in the past
Alternative facts running rampant. How easily the ill-informed fall victim.
Knowledge overcomes fear.
Knowledge is the enemy of fear