Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Yep I don't disagree with either there EWT. My belief is that sometimes stronger market participants will crush the obvious path and diverge from what the data tells us in the first instance. It's a bit like the selling on good news it confuses people and creates opportunities.
It will be interesting to see how the rest of the week plays out in silver / gold as we are at key technical levels now. .
My LT portfolio is in a bull flag formation, it's been a boring last 6 months. I'd like to see a breakout soon now please. :-)
Very strange day, Norm - you're not wrong there.
Gold up 1.3%, and silver up 2.8% on a day where US10Y yields are up 1.04% - the two most likely scenarios for me have to be;
- This is a delayed reaction to the CPI figures last week - with real yields down so significantly, maybe the market is finally being allowed to somewhat realise what that means for precious metals.
- Money is beginning to rotate out of cryptocurrencies (as you suggested) - they have had a great run and a lot of people have made a lot of money - perhaps it's time for them to cool off a bit.
Yeah it's been a weird day I've seen the same Spot silver on IG has been freezing in and out all afternoon.
I'm not sure what's going to happen overnight. But I'm expecting a big short attack in the next few days on both gold / silver perhaps in the Asian session or maybe on some nonsense news release prior to US opening.
If that doesn't materialize then perhaps the banks are getting short dollar / long PMs and ready to go for the moon ?
I'm also wondering if some of the crypto money is cycling back into PMs ? If I were in crypto I would be sick to death of that utter clown Musk puppeting the whole ****ing market. Bloke is a *******
Spot silver price on iG smiler
Islandgirl, weird what happened to Fres today too. Let's hope it's finally breaking out.
islandgirl , what asset SLV?
Something big happening in silver,its been unavailable to trade on IG for long spells this afternoon/evening.
They are losing control
Have a few bob in the Junior Gold Trust - it's not just in gold but silver too, Marlborough. Had RBW for rare earths, but sold out a while ago it got toppy.
Iron Ore hopefully at DSO grade in the millions of tons, copper, gold, silver you're certainly not putting all your eggs in one basket if you invest in UFO. Saying that, does anybody know about any UK traded funds that focus on junior miners or rare earths, metals.
Lol BB :) Yeah, I had to have a lie down after watching silver move.
Once silver finally breaks $30, it will take no prisoners!
I was quite flattered that Simon ( a professional commodities trader with 35 yrs experience) liked my tweet:
https://twitter.com/MaxUFO8/status/1394307025807585282
Silverhorse, how can you be 99.9% certain...by definition certainty can only be 100%
PaulQ, you might be right about boom time: silver $2.75, gold 1.35.
Go you lovely precious metals!
Iron ore? lol
Good luck to the silver players could be a good move but personally I think having a wider exposure to other metals through UFO will pay higher rewards over the coming months.
Hi guys, I just want to stick my ore in and say BOOM TIME !
I think Max has passed out. Where is the ol' chap?
Loaded up below ONE and bought more
at 1.123. Lucky me.
EWT98, that makes sense . . . collect some cash if it shoot ups, but otherwise hold these wonderful shares.
Good thinking Batman!
Very interesting day, but I do think - unless it's a complete coincidence - even if this move does fall back, it is evidence that the share price of UFO does have some level of correlation to the price of silver. I expect there to be a fight around $28, it has been a very significant level for a while now, so we will see how that unfolds, however I do still have a forecast for tests of at least $29 in June and see plenty of upside from here.
Plenty of news due, hopefully it all stacks up to some significant moves for us over the rest of 2021. My preference is a slow, steady re-rate, unless it wants to make any colossal moves that are big enough to tempt me to take some money off the table. GLA
silver is absolutely smashing right now!
Yes indeed HH. Fresh top-of-the-range pies: silver, copper and iron ore pies!
Go UFO!
I only invest when am 99.9% certain.
@Barrett - not just fingers in the the right pies but whilst those pies are fresh from the oven and at their best.
@silverhorse - I admire the optimism, and as ever hope you are correct - instinct however says we've at least one more bump in the road before the big action, so whilst I'll gladly be proved wrong I'm still not expecting any big moves until the second half of 2021...
Not that I can grumble at where things are already, the silver price is at close to double where I bought most of mine, whilst I first bought into UFO at just one tenth of a penny so I can afford to be patient.