vividgull10 said:The battle is happening at USDX around 80.
PS. Just waiting for the weakest link to snap... seeing which way the momentum shifts first. Once that happens, it'll be an easy ride back up to 84+ on the USDX. And obviously, expect corrections across the board.
Emotions. It’s always emotions. Just like any other bottom, everyone starts panicking, claiming it's all over and gold is going to crash forever. As for gold, bottoms happen. We already know there's a chance it could drop as low as 1620 (though there's a slim shot that the slump drags on longer). Ben has already handled the Dollar, so I don't see it breaking 81.5. Thinking it hits 84 is pure science fiction.
The fight for gold is still on. Are we breaking past $1,730 or dropping below $1,698? That’s a roughly $32 swing right there. Right now, things are looking pretty tense around that lower level.
It’s always either GDX or the IMF (one’s an ETF, the other’s an index—just saying for those not paying attention)... S&P Global has been looking solid for quite a while now... If I actually cared about picking individual stocks, I’d be all over both it and RGLD.
dustyheron5 said:Well, while you guys were busy watching the games😍........gold hit 1714 instead of 1690......
As for miners... look, I'm not saying they won't catch a little momentum soon, but if there were a real move happening, they'd be mooning by now. The stock market probably needs another correction (maybe down to 1370?). Even if the Dollar is basically dead, it still has to hit 200 DMA, which is why everything feels stuck right now.
I think the conversation shifts next week. What happened to the S&P 500 this morning was huge... first we see the USD hit 1.298 and gold keeps climbing, then comes the final blow. If that scenario plays out—meaning if gold doesn't just bolt upward—we could see a sharp, temporary crash in gold prices (maybe even dipping below $1,660). We’d see the S&P 500 at 1370 while the Dollar pushes toward the 200 DMA. That would be an insane buying opportunity for anyone quick enough to grab it (and I'm not talking about physical bullion here). For the physical collectors, these dips are perfect for stacking. We saw one back in May, there'll be another next spring, and so on.
Melissa Sanchez17 said:I mean, I couldn't have phrased it better myself. 😍 Personally, though? I’m still waiting for a slightly deeper pullback. 🤷 Maybe once those US GDP numbers hit the wire...
Could be. A drop to 1666 would cause total panic. Everyone is way too leveraged right now. They’re probably sweating bullets, and instead of just shutting their laptops for a week, they’ll likely panic sell at the bottom like they always do.
We’re closing in on a massive upward swing. It could happen today, it could happen in a few days—who knows? If you're looking to stack silver coins or gold bullion, don't expect a better entry point than this. Even if we see a quick dip toward the 1660/80 range, it'll likely be a flash in the pan that only high-frequency traders can catch. For the rest of us, those are just tiny blips on the radar. The big picture is still the climb toward 1900, probably by January.
rapidsurfer90 said:I’ve already scrolled through this thread a few times—and I think rapidsurfer90 was actually onto something with his forecast—as well as some sites suggesting we might see a bit of a correction coming this February. So, what’s the actual logic behind these predictions? What specific trigger is everyone waiting for—and why does it have to be February?
Somewhere around February or March... that's just an assumption based on the idea that the Dollar is due for a massive drop and will eventually need to bounce back. Either way, I think gold is cheaper right now than it'll be in February or March. Every local bottom from here on out should sit higher than the last—same goes for the peaks.
-----------------------------
Today's complication is this: it would have been much better if we'd seen another 2 or 3 days of sliding so we could actually confirm we hit bottom. Right now, I’d say there's a 70/30 chance that yesterday wasn't actually the bottom. We'll know in a day or two. We might see a jump toward 1730 or even higher before a sharp drop, or maybe it just keeps climbing. You can't call it with any certainty right now.
quiettrucker12 said:Don't mess around here. Charles knows his stuff when it comes to trading... it's easily one of the hardest jobs out there. Just ask any trader about their first year—or even their first five. We're in a bull market right now, so just stick to buy and hold. This is your chance. Grab some silver or mining ETFs and ride it for a year and a half. Or, if you're feeling bold, buy in and take profits during significant corrections (like whatever minor dip we might see around February).
That’s like walking into an OR, pretending you're a surgeon because someone showed you how to remove an appendix once, and then actually picking up the scalpel. At best, you're going to cause way more complications than a pro would. And what happens when you run into a different kind of surgery? Honestly, this isn't even an exaggeration; there have been actual cases where people tried to play doctor like that.
Just a troll 😁 ... or look at someone who has a killer first two or three years and then hits a total meltdown. Honestly, just stay away from that. Especially the idea of shorting—I get the feeling you think you could short gold during this correction or something similar, Machete.
neondriver5 said:I have to say, I really respect how Charles handles things. The percentage might seem small, but it’s steady progress, step by step, and the profits are starting to show. If I had the financial cushion to do it, I’d be following his lead.
Don't mess around here. Charles knows his stuff when it comes to trading... it's easily one of the hardest jobs out there. Just ask any trader about their first year—or even their first five. We're in a bull market right now, so just stick to buy and hold. This is your chance. Grab some silver or mining ETFs and ride it for a year and a half. Or, if you're feeling bold, buy in and take profits during significant corrections (like whatever minor dip we might see around February).
That’s like walking into an OR, pretending you're a surgeon because someone showed you how to remove an appendix once, and then actually picking up the scalpel. At best, you're going to cause way more complications than a pro would. And what happens when you run into a different kind of surgery? Honestly, this isn't even an exaggeration; there have been actual cases where people tried to play doctor like that.
So far, so good. On Wednesday, the Dollar bottomed out at 78.94... gold is starting to slide, dipping slightly toward $1700. It could potentially hit a floor around the 75-day moving average near $1680.
If that 75-day MA doesn't hold, we're looking at the 200-day MA in a few days—roughly $1665. That’s the worst-case scenario, though hitting $1620 is a stretch. Basically, we're looking at a minimum of $1700 and a maximum drop to $1620.
All in all, this is just the expected correction to reset the sentiment before we move higher.
The actual buying opportunity will arrive when the usual crowd shows up on the forums crying that gold is dead. 😉
If everything plays out according to schedule today—or even if we look at tomorrow's event—the Dollar should be heading north, while gold keeps on correcting. But honestly? The Dollar looks incredibly weak right now, and once you factor in Quantitative Easing, nothing is a sure bet.