Member Info for ducatiman996r

Things going well at the moment but don't be too surprised if they smash it back down again later to possibly test support at todays low.

If that does happen and support holds that is actually a good indicator for a steady rise later.

How many got shaken out and how many bought more I wonder? I just held my positions as I feel I have enough exposure given the geopolitical situation currently. I couldn't have sold my NYSE shares anyway until the market opens this afternoon our time.

Looks like we've just tested support at the bottom of the late December drop, let's hope we see some upward momentum from here. The precious metals sector has taken a right caning.

Spot Comex price is what people usually refer to.

The majority of crypto currencies dropped hard on Saturday then bounced slightly, currently most dropping back again to possibly test the previous lows.

Silver has hovered around the Friday closing point but gold dropped slightly.

Just have to hope that gold and silver open strongly at 23.00 rather than dipping again.

We have seen the biggest percentage fall in silver but platinum and palladium also dropped, as did even copper.

While looking for something else on YouTube I happened across another video from one of the AI guys. Apparently this one has flipped 180 and is now saying that the silver market can never recover from the blow on Friday.

Is would be really interesting to find out who is actually behind this AI campaign, my money is on the Chinese who would love to see the Western Market in turmoil.

Will an alternative to silver be found in time to prevent a stalling in manufacturing or will industrial demand drop with a general market crash.

If things intensify in Iran one might be forgiven for expecting gold to be bought next week.

IG is currently showing the weekend spot prices on both gold and silver at slightly under the Friday closing price, it will be interesting to see if they change in the run up to 23.00 tonight.

Anybody watching the crypto crash this weekend, billions wiped out across the board. Where is all that money going on Monday? Into precious metals pethaps? The big banks have dumped massive amounts of bitcoin and etherium

Have a look at it, something is seriously kicking off out there folks, let me know what you find out.

Bottom line, whatever reason the price of gold and silver got smashed today when people need physical silver for both monetary and industrial purposes they will be getting it from the miners.

The price rise rate should have rung some alarm bells recently, we have seen the big top knocked back but by and large the miners haven't dropped by the same percentage. Yet.

Hopefully the metals will fund some decent support before dropping through much further but we can't stop that.

Do we still believe that silver supply is struggling to meet demand? Do we feel that the difference between the Comex and Shanghai prices is telling us something?

A lot of people will have been wiped out by today's activity so I do feel sorry for them. It is a tough old game and not for the faint hearted.

Have a good weekend folks, Monday is a new month and a new week.

Slightly off topic perhaps but do any of you guys use IG Index?

This morning I got an email saying that from 1st February my precious metal margins would be increasing, possibly doubling. I couldn't afford that so closed my bets.

About 5 minutes ago I got another email advising that the first email was incorrect and my margins would not be increasing.

Anyone else get the same runaround? 😡

Don't forget it is Friday and the end of the month, also end of some contracts.

Has silver become suddenly more available?

Come back on Monday and let's have another look at where we are.

No doubt another flood of fake silver sell orders to knock the price back so the shorters can buy back at knock down prices.

This disgraceful behaviour should be investigated and the perpetrators put in prison.

@lemontree1

I see your point but my belief is that we are currently seeing a market in exceptional circumstances where precious metals are concerned so trying to micro analyse might not be the answer.

It depends very much on whether we believe that silver prices have been and manipulated for decades (which I do) and that the current wake up call on demand versus supply will crush the institutional fraudulent behaviour.

On balance, I think that the global demand, which unless we get a massive economic downturn is going up, the market remains bullish.

We've gone from massive daily rises in silver price to a massive downward spike, entirely caused to allow short positions to be closed and are now back to gradual daily rises with retraces along the way.

I'm sure that we haven't seen the last of the institutional chicanery yet but it will eventually be overcome by buying pressure.

While the prices in other countries is well above Comex spot we know things are being rigged.

We require the old bull, young bull philosophy at this time.

Out of interest, how many of you who bought at the top here had your stops triggered when it dropped sharply?

We need to see the previous silver high become established as a solid support level and the price to climb away steadily.

Only then will we see a return in confidence across the board on the miners.

Just my opinion obviously.

Having watched the trends on the gold prices Put noticed a repeating pattern so put a £4 a point long bet on the April future at 5100 hoping to see 5500 by the end of the contract term.

It shot up yesterday so it seemed rude to not add another £1 on the way.

It achieved my contract end target in less than 48 hours!!

Silver has steadily pushed through the previous high overnight so the open here could well be interesting today!

Onwards and upwards!

When the price of silver was rocketing up every day the miners were following the trend. We've since seen a big retrace and a fair bit of volatility on the silver price.

Some will have been shaken out of their positions, others will be having doubts about whether the bull run is over.

This is how markets move unfortunately, or fortunately for those who take advantage of the swings.

I think my main question stoll remains, "do you believe that silver is in short supply and high demand for industrial and monetary use?"

If so do you believe that the current price is the top?

I personally don't and believe that once the dithering stops and the silver price breaks out above the previous high we will see people clamouring again for miners shares.

Do you have the sand to ride out the turbulence? If not maybe investment of this sort isn't really for you.

Big question of the day......what is your plan?

Are you in for the long haul and able to absorb the day to day fluctuations, or are you a butterfly looking for instant success?

Do you truly believe that the price of precious metals is going to continue to climb or are you feeling that the bull Market is done?

If the former then learning to sit on your hands and leaving things to pan out (no pun intended) could well be your best option.

If you believe it is done then take your profits and move on.

That is how it works I'm afraid, you really do need to adopt the "old bull, young bull" attitude.

My take, for what it's worth, is that there is still a way to go on metal prices but that in the short term there will be some pretty big swings, not all of them caused by legitimate trading! I'm in on four miners both here and on the yankton and letting them sort things out.

Think along the lines that if you want a steak on your plate, someone, somewhere has to raise some beef cattle. Same applies here but with the added advantage that the price of the commodity is likely to rise by multiple amounts.

I've been watching the gold prices lately and found an interesting repeating trend that I thought I would test. I put on a £4 long bet on the April future at 5100 and it went sideways most of the day, I was a few quid up, a few quid down but nothing enormous. I happened to glance at the chart just as it followed my theory and burst out topside. My target was $5,500 by the end of the contract term but it shot right up overnight in nice steady green hourly candles. I think the target might need to be raised!

In the meantime most of the miners are a bit deflated bit it will be them producing the precious metals when the time comes.

Don't invest with money you can't afford to lose and only buy things that you have researched fully.

That isn't a bad start from an RNS.

If it can hold and recover from the opening dip we should be OK.

Not expecting any upward fireworks until silver breaks out above the previous high.

If you look at most miners they haven't recovered from the big drop yet so this one is about on par.

Going to be interesting to see what Hycroft does at open after a great late session yesterday!

Keep smiling folks.

Don't spit your morning coffee when you see a gap down at open. Not a dreadful RNS and worded very factually but the tradition is for a "sell on news" for anyone not used to this game.

Opportunity to top up perhaps for anyone holding a bit of spare cash.

I wonder how many more times they will be able to increase the silver margin requirements to smash the price back down? Will we see another push downwards to test $100 ? It wouldn't surprise me and even if the people acting fraudulently got fined it would probably represent a fraction of what their losses would otherwise have been.

Will the investor confidence in miners return to being as bullish as it was during the rapid climb phase, or might they lag behind the inevitable return to silver price rises?

Thought there looked like a bit of support at 43 so put a few into the portfolio. Probably a bad idea with news due tomorrow as people do tend to sell on news, good or bad. Never quite understood it but it happened with Hecla yesterday.

It will be interesting to see if my trade shows on here.