Member Info for carvegyber

Apart from an initial spike, the price has been very sluggish this morning and sliding down. Which means that we will probably close strongly close to 1200. Fingers crossed.

PMs showing signs of bounce. We need it to touch 1900 for it to reverse the recent bear. If it breaks 2000, then we are in a new PM bull charge. Now that market is over the Democrat win, the reality of more lockdowns and currency debasement will hopefully resume to grind PMs higher.

last one: I suspect we are at the very beginning of a big gold bull run. When the high street start scrambling for gold is when the top shall be called. We are a few years from that I think but you never know. Events seems to unfold very quickly these days....

Incidentally, a gold shortage had happened in the past when people starting hoarding gold because they lost faith in paper currency but that was centuries ago. It will take lots of government buying and investors too.

There is anecdotal evidence showing that more and more billionaires are putting large chunks of their wealth into gold though. And Bitcoin....

The dam will only break only when the physical gold demand outweighs the physical gold deliveries for extended periods. The anomaly we saw last year was due to refinery closure mostly and also flight disruption. Otherwise the options merry go round continues....

I guess you could track the comex inventories and LBMA too. A sustained drawdown could indicate trouble ahead (good for price) This is not something I track....

Indeed. Gold more so than silver is in that catch 22 scenario. On one hand it is the oldest preserver of wealth, on the other hand, everybody is also expecting a bit of inflation to be good for stocks. Looks like gold will pretty much see saw between 1750 and 2000 for quite a while. Silver, may take off though especially if industrial productions start taking off again. $50 is likely.

Fres on the other hand should be due a good recovery in 2021 as the vaccine is rolled out worldwide and production returns to normal. I don't expect revenue to be badly affected at the moment due to the high PM prices but when production start ramping up and Juanicipio starts coming online, it could be very very good for Fres.

Gold took a big dip which is very typical of PM price action. It can move up quickly in gradual steps but when it takes a dive it takes a big dive. To trade PMs successfully, we need to remember this pattern. It is almost a case of sell the news when democrats won the Senate. Plus bond yields went up so they were catalyst for the dive.

Only a matter of time before democrats do another $1-2 trillion as more and more US states go into lockdown. Gold should break $2000. If I was a gambling man defo load up as it dips....

it is a short term thing I believe. Bond yields climb with investors believing inflation will be higher under Biden and so will interest rates. Short term higher yield is bad for gold but high inflation is actually good for gold. If it ever tops 4% then gold would be well over $2000. We could see it this year.

Did anyone see how Fres opened up with gold down? I think this will be way down by lunch time as MMs like to play games with this. I have cleared out my fres trades.

Did anyone noticed how FRES was walked down when both gold and silver gone up massively? What a trading opportunity.
I just couldn't refuse. We should be touching 1350 soon....

Rocky, retail is not banned from trading it? You can do it on coinbase and spreadbet it on IG. Yes institutions are getting in. The change of tune from them is astounding. Managers that used to be completely anti BTC are now lukewarm. The bashers have turned interested sceptics and no doubt will want to get in on the action soon because there is money in offering it.
BTC and ETH has the advantage that they are more or less grand daddies of cryptos and if you want to but altcoins, you have to buy them first.

looks like with lockdowns looming everywhere, gold is moving up and silver has finally woken up. I am guess it will hit $30 soon once gold breaks 2000 again. It looks like it will and this time it could well stay above it.

No doubt with more lockdown, the will be more cheques in the post from governments. All created out of thin air.

BTB yeah, I think I will sell portion of bitcoin but keep all of my ETH. Apparently, this will turn out to be as good as bitcoin the future. It will take 3-5 year I think but I will hold on to my ETH.

ride the BTC for another 3 years and see where it gets. A lot of institutions are now using bitcoins so it will only get more popular hence increasing the market cap.

I still hold bitcoin at $2000 from 2017. The big question is, when do you sell this? Can it go to $100k?

If they pass the stimulus deal, I think we could close out the year at 1350 here. With that thought, I reentered at 1155 with half position. Just in case.....

1155 is in the scheme of things, a very low point for Fres considering PM prices. The downgrade in production expectation really put a drag on this and we only have results in March to set it straight. we are in for a few months wait before a decent rerate. Unless the 4Q production report is exemplary in Jan.

Yeah, I closed all my trading longs on silver and Fres when this touched 1200. Now waiting to reenter. I got back into silver just as it touched 2500 for not even a minute! Crazy. few minutes later it was back up to 2590! Just one very long red line on the chart.

silver has been very volatile this morning and luckily I was on my screen and had some brilliant trades. 100pips either way in matter of minutes! 200pips for a morning's work!

For silver to be above 2600, gold will have to be above 1900 I believe. Soon as the stimulus is passed, it will fly.

I suspect the volume on Fres is relatively low and I think the MMs can drive the prices with matched trades. It will start jumping up 1-2% at the end of the day....seems to be the pattern so there is often opportunities to trade.

good sign....

Republicans and Democrats are close to a deal on $900b stimulus....

I look forward to the 1200s again.

Grim Job figures out of the US and stocks rise! This madness has to be very bullish for gold.....