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jelly said:
The only shimmer of hope I see is the fact that silver is holding up nicely, going sideways the past few weeks. As dismal as the miners have been, I would expected silver to be below 20.
Friday is options expiry in stocks. I'd guess we see some continued price fixing for the rest of the week. Next week will free things up.
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Watch, silver will plummet 10% tomorrow.
 
Stochastics on silver have pulled back, and ready to rumble. Doesn't mean they will, but this would be a good time for it to make a move.
silv.png
 
Miners to gold ratio is in the dumps, staying at the lows despite the $200 run in gold. Simply awful to look at.
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Give this a listen... educational at 1.25x
An in depth look at world energy usage and economic growth across decades. Lots of CHARTS!

Conversations with Dr. Fadi Lama II​

Dr. Fadi Lama presents the energy framework and why the west can't win.
41m
 
No one knows where the bottoms are for sure and after the pretty much relentless selling in the miners you have to wonder how much tax loss selling can there possibly be to do?
 
www.gold-eagle.com

Gold Stocks: The Time is Now

In 2000 a great stock bubble rolled over, the US dollar was soon to roll over into a bear market, commodities remained in a bear market for another year, and one unique sector rose, improbably enough to the majority. Gold and gold stocks bottomed, exited a long bear market and turned up in 2001.
www.gold-eagle.com www.gold-eagle.com
 
Gold rockets higher, and the miners slowly move higher. Gold gently moves lower, and miners fall off a cliff.
This period is going to go down in the record books as the most awful to be in for the miners.
 
jelly said:
Gold rockets higher, and the miners slowly move higher. Gold gently moves lower, and miners fall off a cliff.
This period is going to go down in the record books as the most awful to be in for the miners.
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This is also going to be known as the Golden Opportunity for buying miners.
I’ve made lots, and lost lots, and all I know is that the longer I procrastinate, the better things look.
Sitting in cash, waiting for the bottom next Spring.
Biden, Powell and Yellen gonna run this fucker into the ground. That’s when we pounce; everything else will lead to capitulation.
 
Jodster said:
This is also going to be known as the Golden Opportunity for buying miners.
I’ve made lots, and lost lots, and all I know is that the longer I procrastinate, the better things look.
Sitting in cash, waiting for the bottom next Spring.
Biden, Powell and Yellen gonna run this fucker into the ground. That’s when we pounce; everything else will lead to capitulation.
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It might take that long or we could bottom late this year. Those October bottoms go it looks very bleak short term.
 
Gold and silver prices are down in early U.S. trading Friday, in the aftermath of a U.S. monetary-policy-hawkish tone repeated by Federal Reserve Chairman Jerome Powell on Thursday afternoon. ...

Fed Chairman Powell on Thursday afternoon again leaned hawkish in his comments at an IMF forum in Washington, D.C. He said, "If it becomes appropriate to tighten (U.S. monetary) policy further, we will not hesitate to do so." Powell added, "We will continue to move carefully, however, allowing us to address both the risk of being misled by a few good months of data, and the risk of overtightening." Bond yields and the U.S. dollar index rose following Powell's comments, while gold sold off.
...
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www.kitco.com

Still-hawkish Fed puts price pressure on gold, silver

Senior Technical Analyst Jim Wyckoff prepares investors with an overview of how the markets opened and closed. What moved metal prices? How do the technicals look? By looking at important developments
www.kitco.com
 
I would have thought the miners would be off more today given the smack down in the metals. HL bounced off the $3.60 level and CDE is yet to take out 2 bucks. SILJ is hanging around the previous bottoms. Might just be junk buyers looking for bargains. Markets closed here Monday I'm just gonna watch this.
 
Markets are open Monday WTF was I thinking? Interesting spot for Hecla but hammers don't have to work. These stocks barely go up when the metals go up so it would be fitting for them to hold or even go up if the metals sell off some more. Weak close in Silver not a great week. They gotta stop going down before they can go up right? Anyway.


HL_2023-11-10_17-02-57.png
 
Looking at just GDX, there is absolutely no reason to expect a run higher here. We had a failed breakout.
However, gold in Aussie $ and Euro's is looking positive, and ripe for a turn.
Aussie dollar, gold is looking like it's ready to resume it's run higher here. It has returned to the breakout level in a classic move. Should run higher from here.
xauaud.png

Gold in Euros is on a pivot, and the 50-DMA. Should get atleast a bounce here.
xaueur.png
 
Not sure why SPPP/SPPP.TO keeps coming to mind. At these prices, it's definitely oversold. Showing a trend line which corresponds with Jan 2018 high and May 2019 support, which was the flip from bear to bull market. We're only 7% off the Pandemic April 2020 lows. Thoughts?
Screen Shot 2023-11-13 at 12.55.37 PM.png
 
The gold market is trading near session highs after the latest inflation data showed consumer prices cooling beyond expectations in October, leading some economists to predict that a December Fed rate hike is now definitively off the table.

On Tuesday, the U.S. Labor Department said its much-anticipated Consumer Price Index was unchanged last month at 0.0%, following a 0.4% rise in September. The data came in cooler than expected, as economists were still forecasting a 0.1% increase.
...
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Gold prices spike to session highs after U.S. CPI cools in October

(Kitco News) - The gold market is trading near session highs after the latest inflation data showed consumer prices cooling beyond expectations in October, leading some economists to predict that a December Fed rate hike is now definitively off the table.
www.kitco.com
 
Tomato tomatoe. US at this time is the biggest market for the mining shares and the only one that matters now.
 
The stock market is reacting to the realization that the Fed is done raising rates. It's the moment gold has been waiting for, we have been told. But now that the moment is here, gold fails to move higher. Just a couple hiccups higher in a general move down. Pathetic.
 
I expect some consolidation in the miners after the big runup on Tuesday. Might be a good time to add or initiate using this week's lows as stops.
GDX SILJ HL CDE AG FSM MAG PAAS

Some of the Uranium stocks are pushing the highs and I am a little leery of that sector right now. It is being talked up on the go to channel and in Business Insider. Seymour is still positive and has been all along. Still probably best to buy on a sharp decline not up here.
 
jelly said:
The stock market is reacting to the realization that the Fed is done raising rates. It's the moment gold has been waiting for, we have been told. But now that the moment is here, gold fails to move higher. Just a couple hiccups higher in a general move down. Pathetic.
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And it's really, REALLY gonna freak when it realizes rates are still going higher.
 
Certainly looks like an Inverse Head and Shoulder reversal on GDX. Really need to break through $30 with AUTHORITY. Should head to $35 if we can break that level.

1700151700321.png

And even showing some life against gold, like we actually make money when pulling this from the ground. Some bullish divergences and a bullish engulfing candle.
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Flip a coin or go wid da HVF. Flippin like a 5 dollah ho. They are all wrong so why bother?
 
Because I'm NOT a random walk down wall street guy and these things are not 50/50 coin flips. They have generally done very well and the longer the time frame the easier it is to be accurate / less manipulated.
 
Who said anything about random walk? I followed this guy and his calls have been no better than a coin flip. Even the greatest traders of all time and he ain't one of them are wrong a lot. Aden Sisters God they gotta be as old as the hills by now think Gold is now in an A rise. In the long run we're all dead.
 
Greenlight Capital reported a major increase in its exposure to gold as the hedge fund’s founder worries about the direction of the markets. In a Q3 letter to investors, David Einhorn expressed concern about geopolitical uncertainty, the rising price of oil, and inflation.

Greenlight famously shorted Lehman Brothers before its 2008 failure.

According to third-quarter 13-F filings with the Securities and Exchange Commission, Greenlight plunged $34.9 million into SPDR Gold Trust, the world’s largest gold-backed ETF. That increased the fund’s stake in the ETF by 89.2%, a record exposure to gold for Greenlight.

The hedge fund also reportedly holds a significant amount of physical gold, which is not subject to 13-F reporting.
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schiffgold.com

Major Hedge Fund Turns to Gold | SchiffGold

schiffgold.com schiffgold.com

Just one data point, but if hedge funds go long on gold ...
 
Starting to hear Silver Squeeze again. No likee. Stops up tight.
 
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