Member Info for carvegyber

Bonkers, sooner or later that will get picked up by the market and when tightness appear in the physical deliveries for whatever reason, price will go parabolic.

zzzz. nothing much will happen now until there is new data from US. Slowing economy/ indicators will be positive for gold. Hold pattern for now.

I stand corrected maroon. lol. doh.

Barhut. Using parallel trendlines, this has been bullish since Jan 2022 with a correction in July (double bottomed) and since then has been bullish again. The trend is your friend. The shorter term, the SP has bounce off bottom trendline so looking good for 1000 area over the next 2-3 months. This has been consistently charting higher highs and lower lows. Can't get any more bullish than that coupled with Gold's mid term run and Macro, it is looking good..... Trend seems long and strong my friend.

Chartists disagree: Shaun says buy, Noel says sell. Hmmmmm

Me: I think charts are useful at shorter term but Macro is also very important and will trump charts if you take a longer view. My view is that despite the NFP blip, rates are still closer to the peak than the trough hence there is room for gold to grow.

"UK consumers, corporates and sovereign are drowning in debt". Therefore by your logic, BOE needs to raise rates aggressively which will lead to mass defaults. What good will that do for the economy?

Bailey raises rates again. As if it is linked to prices of food and energy. All it will do is drive a recession and more strikes and therein lies the interesting part. Could it start dominoes falling? If it does then gold and silver will shine.

Well done Mary.

Noel, BH, by the way things look, I don't think you need WW3 for gold to hit $2200 (10%). All you need is stress in the US economy and it will get there. Silver $30 too.

As to what are the chances, I am not sure at this point. They are still looking resilient but all it takes is one over indebted domino to fall....Not many people saw CDOs and virtually none saw the LDIs coming. Who knows. Surely the fast rate of rate rises have to catch a few naked swimmers out.

I agree. Think gold has risen for quite a while now and due a correction in the short term. Normally, corrections are very hard so hold on. As to whether it has finished rising in the mid term, I am favouring probability that it has another 10% or so to run due to real rates still being highly negative. Plus US dollar could fall now that Yen and Euro are looking like posting a comeback. Of course, it is just a probability.

BTB, I am noticing the price action of silver too. It seems ready for a big burst to 2500. Just need gold to cooperate.

Noel, they can only rig it for so long because at some point, the tide will recede and we will find out who is naked. Especially when there is record deficit in supply. Thanks for the article.

Right, the way I see it is, the bad news that UBS predicted is now out of the way which was higher production costs . However, the guidance wasn't missed as UBS prediction. Also the labour issue is now resolved which is another UBS miss. Furthermore, the management is now confident enough to raise the 2023 outlook so I see this as very positive going forward especially in the face of rising PM prices. The spot prices are now some 6% above last year's average prices. You can call me glass half full if you want.

If you believe that higher inflation will lead to higher prices for PMs and other commodities, then you can't go wrong investing in this I believe. Provided fres doesn't mess up....again. Had been a hard 2 years production wise.

I also have a buy limit on silver at 2308

Mary, similar strategy to you. I now have one opened at 857 and one at 907 from last week.

Dr. J, yes, looks like that is it. The volume is extremely low and so I guess a sell note can cause outsized drop. US open has brought it back up.

Anyone have any idea what this outsized drop is about? I just hate it when a share has a big drop when there is no apparent reason. Anyway, I had to stick to my trading strategy and took a position long again at 905

Hmmm, gold broke 1900 and fres fell? Time to take another trade perhaps. I am going to consult crystal ball...

closed out at 970. Will be waiting for next opportunity to go long again for another trade. I love this and silver for trading. Silver hasn't provided me with entry lately as it seems to be range bound and not dipping low enough to hit my limit buys..... might have to pay a little more.

BTB, I will be closing it at the end of this rise which will be when the US CPI figures are out. Good or bad... it will either hit my limit 988 or my stop 950.

opened a long this morning at 928. I had limit buy of 918 but it did not execute so I manually bought. I reckon that 918 low of the day is fake. SP seems to lost the correlation to gold last few days so I thought why not....