I step away from the screen for two days and get flooded with enough posts to drown in.
These visits from the skeptics 😁 are clearly a solid indicator of sentiment whenever we hit rock bottom or hover right around it. Meanwhile, miners (precious metals, obviously—look at the index) are up nearly 20% in just 11 trading days.
Lately, gold has been acting more like a commodity, moving in lockstep with the CRB index (and even tracking the stock market recently), while the Federal Reserve has turned the dollar into a safe haven.
Today, though, things took a weird turn. As usual, the stock market is sliding, commodities are down, but the miners are pumping.
I’d say it’s a coin flip whether we see another quick dip below 1526—though I doubt we’ll break 1490. As for miners, that's a different story; I don't see them dropping below the 16.05 level anytime soon.
If we see a reversal, gold is going to absolutely take off—nothing goes up forever, not even the Dollar. Theoretically, the greenback could keep climbing until the 13th, the 17th, or whenever, but realistically? This should wrap up by next week.
Gold shorts have dropped even further since last Friday. Mining stocks like Newmont are up 15% in just seven trading days. A short-term dip toward the $1,490-$1,500 range is still technically possible... but honestly, it’s looking less likely and less relevant by the minute, especially with how the miners are performing.
dustyheron5 said:When I talk about the rally in metals, my primary focus is silver—I'm anticipating it could see roughly a 100% increase from current levels by the end of the year...
As for gold, I expect it to consolidate through November before staging a powerful move upward...
Of course, this is just my personal take.😉
That sounds great on paper, but you just killed the vibe. 🙄 Personally, I think yesterday's mining stocks signaled a massive pivot. We aren't dropping below $1,526 anymore now that everyone's convinced the floor is set. Those miners made a huge move yesterday. If the IMF holds this trendline today, I'm calling it—we're in.
crimsonranger38 The user states: Don't you dare count me out. 😍
Gold took another 2% hit today—another sharp move. 😍
Do you actually grasp the context surrounding this correction? 😍
Every time I step into this thread, I get the distinct feeling that I’ve wandered straight into a cult. 😍
As long as deflation remains the dominant theme—metals will continue to slide. There is just one catch—the longer and more brutal this deflationary period lasts, the more massive and devastating the inflation will be when it eventually hits.
I’m noticing that miners are holding their gains even though metals are trading in the red today—which suggests a reversal is imminent. I fully expect the Federal Reserve and the Federal Reserve System to print another 20 trillion just to stop the entire system from collapsing... I am genuinely curious to see how this all plays out. 😍Central banks versus the market—it’s the fundamental tug-of-war we're watching right now.
🙂 And all of this is happening despite the massive surge in the USD.
placidlynx43 said:So, over the last four days, we've been stuck in this specific "2%/1%/Flat/Hard Down" attack pattern—something James McShirley has been calling out. Basically, what he’s saying is that whenever the big players decide they want gold to "exhale," they pull this calculated, capped move: a 2% jump on Thursday, a 1% crawl on Friday, a dead-flat Monday, and then a total Hard Down today.
Fitch just downgraded Japan's credit rating, which usually plays well for gold. This is likely just an initial reaction to how the USD is moving. Makes you wonder... is Fitch part of the shady 🙂 Cartel too?
Look at how the dollar is moving. This looks like a "chance" to wrap up a bull market that’s already been dragging on for 15 years. Every analyst out there is yapping about how undervalued mining stocks are right now, but nobody actually wants to touch them because they’re still stuck in a brutal downtrend. If you believe this bull market isn't dead yet, miners are where the action is. It’s basically a high-stakes play: try buying the dip with tight stops at these recent lows. You're essentially betting that prices will break above current levels so you can finally reach "strong hand" status once the volatility settles down. You can only make moves like this when you think you're at the absolute bottom, but...
Something big is brewing behind the scenes. I’m about 90% sure we hit the long-awaited bottom at $1,526 this past Wednesday, May 16th. Anything can happen in this market, obviously, so we really need to clear 1,630/1,640 to get actual confirmation. If things fall into place, we should be looking at 1,900 by the fall. From there, it’s just a matter of how many shots it takes to break through that 1,920/30 resistance level—you know, that peak from last summer.
You just have to realize that mining stocks are a dangerous game. People underestimate them now, but that's changing—theoretically, they can always tank even harder.
BlackRock and United States Leveraged are basically silver plays with leverage. dustyheron5 wasn't super clear about it, so let me set the record straight: these aren't miners, they're just boosted silver exposure.
Generally speaking, leveraged ETFs are incredibly dangerous if you don't know what you're doing. Someone who actually knows the ropes takes a tiny slice of their portfolio and usually holds it for a very short window. Beginners, on the other hand, go all in and risk wiping out their entire account in one go.
There’s also this super popular leveraged instrument that is pure mining play—NUGT, which is 3x GDX. That is straight-up playing with fire. It's designed specifically for day trading.
Leveraged stuff works fine when things are moving up, but once the trend reverses, volatility decay kicks in and eats your value alive.
Honestly, I hope the stock market hits rock bottom soon so it doesn't drag precious metals down with it. This gold run is still pretty fresh, and there’s a chance we see a rally up to $1,600 before the final crash. I’d say there's a 20% chance of that happening, but an 80% shot that we've already hit the floor at $1,526—that $1,523 level held up well enough. nimblepanther18, people have been talking a lot about picking individual miners here, but there are ETFs that bundle them together. If one miner in the group tanks, it won't wreck the whole portfolio. Miners are risky business on their own, and frankly, I think ETFs help mitigate those specific risks you get when you try to play the "individual stock picker" game. The HUI is the index for miners, and since SPDR Gold Shares tracks it closely, you might as well look at either the HUI or SPDR Gold Shares. Personally, I find SPDR Gold Shares to be the more liquid option. Then there's the junior version, GDXJ, which has been facing some negative rumors lately. My take? Juniors will likely be the stars once we hit the third phase of the bull market. I actually like GDXJ best for a couple of reasons: it holds small stakes in a massive number of miners, and it includes silver mines too. For silver specifically, there's SIL. Buying individual miners is a headache—you'll end up buying a solid company right when it peaks, while some undervalued gem starts mooning without you. Plus, trying to buy ten different small-cap miners is just impractical. I won't get into leveraged ETFs, but if you want to do your own homework, look into TGLDX. You also have royalty companies like RGLD and Wheaton Precious Metals. They aren't traditional miners, but they might actually be better plays. If you're skeptical about ETFs, these could be a great way to go.
The S&P 500 is down 1%, while the silver mining sector stocks are up over 5%. These miners are ridiculously undervalued right now—it feels just like when gold was sitting at $700 back in 2006. I honestly think this massive surge in miners will be what carries the bull market forward. If we follow the pattern, they could potentially pull a 5x gain before the bull run ends sometime in 2014. Just a reminder: between October 2008 and September 2011, they saw a 3.7x increase.
placidlynx43 said:It looks to me like the sheer number and volume of retail investors playing the mining stocks is incredibly tiny—and honestly, the sentiment toward miners right now is just overwhelmingly pessimistic. Maybe that’s actually a good thing for them? On the flip side, I don't see much upward movement in those mining indices until gold finally pushes Sinclair's angel past 1764. But hey, that's just my two cents. Either way, I've got a feeling we're staring down the barrel of some massive QE3—or whatever fancy name they decide to slap on it this time. This whole crackdown on gold and silver prices feels like they're just clearing the field for it.
If we want to see miners explode, all we need is a bottom in gold. For a potential confirmation of that floor tomorrow, we need gold north of $1552. That's just $9 above where we are sitting now. Tomorrow is probably our best shot at seeing a bottom form so far. We'll see what happens.
It’ll be interesting to see what happens with mining stocks—specifically whether they can stay north of Hui 393 after Wednesday. If 393 doesn't break, we might see a sudden pivot in the sector.
So, the Dollar keeps climbing. That’s what... 11 days straight now? Let's see how Gold opens, but this rally might have another day or two in it before it tires out.
Donald Trump just cut mandatory bank reserves... gold shorting is at its lowest level since the start of 2009... there's a massive chance we hit the bottom this past Friday at $1574.
We’ve got a candidate for rock bottom this morning at 1587. It’s looking a lot like what we saw back in December. That’s all there is to say regarding the 75 wma. If things keep sliding, the next support level to watch is 80 wma at 1570.