Gold: Past, Present, and Future

Ashley Thompson10 said:It feels like we’ve finally hit rock bottom with silver these days.

Gold is king.

quiettrucker12 said:Gold is king.

Do you guys honestly think we might see a run toward silver and gold starting as early as tomorrow or the day after?

lonehawk5 said:Long on gold at $682 and long on silver at $31.18

Shorting gold at $689.10 and silver at $31.26

lonehawk5 said:Shorting gold at $689.10 and silver at $31.26

Hold up, silver just tanked to $30.65 in the meantime. So that wiped out those 53 pips and now you're sitting on a measly +8?

dustyheron5 said:Spot on—you've hit the nail on the head. The true bottom only arrives once the respected voices in this community start posting about the end of the bull market in the metals sector.😂

Personally, my issue isn't even the price correction itself—it's the fact that Silver Wheaton refuses to adjust below the price I sold at... which is frankly quite dishonest on their part.🙂

http://www.kitco.com/reports/KitcoNe...smallwood.html

😍

Melissa Sanchez17 said:Do you guys honestly think we might see a run toward silver and gold starting as early as tomorrow or the day after?

So far, so good. That 75 WMA finally halted the slide. As far as I can tell, we’ve hit bottom—though with these elections coming up, anything can happen. Still, I wouldn't bet on a sudden pivot just yet.

We could use a little more confirmation first. If gold stays north of $1,700, we’re looking good... but if silver fails to hold above $31, we might just see another leg down toward the $1,660 mark.

Melissa Sanchez17 said:http://www.kitco.com/reports/KitcoNe...smallwood.html

😍

I’ve been looking at this—stock prices are seeing a slight dip despite poor results. They actually produced 7.7 million ounces of silver but only sold 5.5 million. 😂

It’s either stuck in the smelters—or they did this on purpose 😉 because they're betting on a spike in the silver spot price. (I'll be interested to see if that actually plays out.)

If you judge things by the current gold price—sitting at $1,710.00—and the movement of the American stock indices... deception is winning.😉

dustyheron5 said:I’ve been looking at this—stock prices are seeing a slight dip despite poor results. They actually produced 7.7 million ounces of silver but only sold 5.5 million. 😂

It’s either stuck in the smelters—or they did this on purpose 😉 because they're betting on a spike in the silver spot price. (I'll be interested to see if that actually plays out.)

They'll probably end up following E. Sprott's lead 😉

What even is this "golden bug" nonsense—some kind of manufactured crisis, maybe?😂?

Melissa Sanchez17 said:What even is this "golden bug" nonsense—some kind of manufactured crisis, maybe?😂?

😁

Just got more proof this morning: gold is already sitting above last week's peak ($1,727). In my book, there's about a 90% chance we hit $1,900 next—basically a sure thing at this point. As for hitting $2,000? I'd put those odds at maybe 60%. We'll likely see the peak sometime in February. After that, expect a correction. It’ll probably be a bit sharper than the current one because once the Dollar gets squeezed hard enough, it's going to have to fight its way back. When we hit bottom this spring, it won't be down here; it'll be higher than this current floor (which is at $1,673)—I'm thinking closer to $1,750.

Probably just the last few death rattles from the King ($) before he gets dethroned. Sitting at 80.918... honestly, I doubt it’ll even touch 81. This is really just a temporary hiccup for the George Washington.

Crisis? Please. Why on earth would anyone call this a crisis?

quiettrucker12 said:😁

Just got more proof this morning: gold is already sitting above last week's peak ($1,727). In my book, there's about a 90% chance we hit $1,900 next—basically a sure thing at this point. As for hitting $2,000? I'd put those odds at maybe 60%. We'll likely see the peak sometime in February. After that, expect a correction. It’ll probably be a bit sharper than the current one because once the Dollar gets squeezed hard enough, it's going to have to fight its way back. When we hit bottom this spring, it won't be down here; it'll be higher than this current floor (which is at $1,673)—I'm thinking closer to $1,750.

Is there an actual formula behind these percentages, or are you just taking wild guesses?

vividgull10 said:Is there an actual formula behind these percentages, or are you just taking wild guesses?

Roughly speaking, yes. If you aren't a pro trader, it’s easier to just lay out what I expect to happen. Most people buy physical assets and look for dips to jump in. That’s why I wrote that this bottom will be higher by springtime.

As for gold, you need to wait for the S&P 500 to hit rock bottom—maybe today, or more likely in a day or two—around 1370.

I think people are tripping over today's stock market dip. In my view, gold hit rock bottom at $1,673 this past Monday, November 5th. But let’s be real: it isn’t going to pull a massive moonshot until other asset classes actually land. I’m talking about oil and, obviously, stocks like the S&P 500. For some reason, people don't seem to grasp how vital that gold floor is. Maybe the S&P 500 bottomed out today, maybe it didn't. We might see another day or two of sliding toward the 1,370 mark, but there is absolutely no way we're hitting that 1,266 level Mark Faber mentioned earlier today. 🤷

Once the S&P 500 finishes its descent—which should be in a day or three—gold is going to hit a hurricane force rally along with everything tied to it, like miners and silver. I already laid out my targets above... the mining index target is testing the all-time highs or getting close to them. Silver's target is around 40, though that's always a tough call to make.

And just so nobody starts claiming someone is manipulating the gold market: everything needs to align. Stocks and probably oil need to hit their floors first so they can all climb together. There's a better chance that oil bottomed out today, while the S&P might still need a tiny bit more room to fall.

@quiettrucker12
Thanks for everything you post here! 🙂

With prices this ridiculous, it's actually a decent chance for us stackers to load up 🙂

You guys get way too hyped the second things tick up even a little! Here’s some solid data if you actually want to see what's happening

http://www.sharelynx.com/chartstemp/GoldeWave.php