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Upside limited here
Max the cavemen have been saying that since God created the earth and a dinosaurs called fres roamed the earth and breathed fire but now its just hot wind..I really hope fres keeps going..personally I am waiting for rest of the data this week before committing more.
"$30/ounce #Silver next week?"
https://twitter.com/goldseek/status/1775536722111021342
Cmon FRES keep this up, breakout on now
I think this might be the worst share price to PM price ratio I've ever seen in a miner...I know there's a lot of moving parts to the "valuation", but it's still quite something to behold.
Fresnillo IPO'd at 520p way back in 2008 and the lowest close during March 2020 madness was 530p, talk about low volume and poor liquidity!
Second attempt now, come on FRES
Pivotal price, kissing the 100 day moving average with both 20 and 50 day averages turning upwards too.
Blackrock gold and general now has Sprott silver in it's top 10 holdings, Jupiter G & S is also well into PSLV. Neither has FRES in top 10.
Rumours aren't always true, the whole market is rigged.
What are Bank of America doing?. They're rumoured to have a massive short in Silver . Above $26 is nosebleed territory for them.
"Silver seems to be breaking out.
$26.25 …
It’s been stuck below $25 forever."
https://twitter.com/WallStreetSilv/status/1775269471185432662
@FOG
FRES is a different trade for me. I remain invested and average in an out, lowering averages over time toward £Zero. Taking a while here but the plan is intact.
Each breakdown add and have patience, eventually it will turn. Of couse I will trim at 509 (today) but will readd or trim more depending on the trade. The core remains intact.
How many tranches you need to add does not matter as long as you exit higher than the entry. Rinse repeat, job done.
Regret investing in FRES, not at all but should have stuck with Billiton instead.
It'll jump again tomorrow
DYOR
BEST of luck to all
I think a lot more to come
Gold and silver might just do at least a partial catch-up to bitcoin. Bitcoin is the new gold but still - you cannot fully get rid of the real physical stuff.
Fres to double from here?
"...gold is becoming expensive"
the indicator is that fiat money to buy it is losing value ...and it is that..that makes gold look expensive
The US Treasury has borrowed $2 trillion from its own people with higher short term rates, in the hope that rates would come down and they could replace it with cheaper longer term rates....that plan isn't working just yet, as rates are staying stubbornly high for longer
The US is creating huge amounts of debt, yet the economy isn't producing the growth % to come close to the debt payment needed against that debt ...especially when you take out the affects of inflation
Last month US Govt spending was TWICE the amount of tax receipts
Https://www.youtube.com/watch?v=BqrJDRWOaqM
"Gold at All-Time Highs, Where Does That Leave Silver?"
Worth watching.
With silver and gold up, while S&P and US Treasuries dropping, is the best setup for precious metals miners. Silver no longer behaves like industrial metal. I shorted Magnificent 7 for an extra spice, let's see how it goes.
The precious metals recycling especially gold will be loving this. The physical gold buying outside of China has collapsed. This is a paper gold price not a physical buy. It is one thing to have daily overbought at 80 RSI to have the weekly over 75 is nuts. The miners will get hit if the jewellery business stops taking gold orders. The rise is to much to soon. A semi detached house in many parts of southern UK is now under 400 ounces last arose back in 2011. An indicator that gold is becoming expensive.
Fog
I overbought to start. I am now on my comfortable limit and made a bit.
I think gold prices are reflecting the concern with regards to the amount of US debt that is growing ever larger ..federal budget deficit
The Dollar is being propped up by the interest rate needed to sell the new debt ... and they are faking data to support that ..IMO
Dollar falls and gold will go on rising ..IMO
" This jumped 10% on Monday 29 Jan and then quickly lost nearly all the gains in 4 days"
I got the impression that bets on the FED were behind that, with maybe stop loss catches on the short players who bought to close
Silver has been heavily shorted and at present I think we have seen short contracts closing , pushing up the silver price..
Maybe as the Quarter ended last week, derivative contracts closed on expiring ...now need to see the mood for Q2 ..need more Option players betting that Q2 will see a stronger end that here at the start
The question, as ever, is...is there enough positive momentum to bring in Bull long contract buyers and hold the price firmly ..
Promising data from China and US regarding manufacturing .... stronger China would bring a recovery in Germany ..... all slow knock on to boost silver demand
I am out with gold weekly RSI approaching 75 it will retreat at some point. Like running in front of a steam roller to grab a few pennies.
What were the reasons for the 29 Jan jump? I never did get to the bottom of it.
On Mon/29, the reasons for a jump were different.