1292 replies to this topic

[dharma]

macleod  has been spot on https://kingworldnew...banking-sector/

  

 

yes, i believe at this juncture silver is the most undervalued asset on the planet. 

so , what do you do about that.?  comment!?  the premiums have come back down to earth

dharma

[ryanoo]

macleod  has been spot on https://kingworldnew...banking-sector/

  

 

yes, i believe at this juncture silver is the most undervalued asset on the planet. 

so , what do you do about that.?  comment!?  the premiums have come back down to earth

dharma

dharma i have no comment but a question.  If force majeure is declared by bullion banks, then what would happen, other than the bank crisis, to the prices of gold?  will it explode or collapse?  my guess would be 'explode' as it brings the crisis which the pm loves and because it makes clear the shortage of physicals to deliver which will kick the price up XX% instantly.  what is your thought on its ramifications for other than banks?

Edited by ryanoo, 08 July 2020 - 01:24 PM.

[Smithy]

Ryanoo, unlikely there will be any force majeure.

(1) Comex says they are committed to allowing price to settle any shortages

(2) there was a crisis when the pandemic first hit in Feb with futures deliveries, and vast amounts of gold were flown in from Europe.

You can read the articles back on the "The unfolding upmove in gold" thread.

[dharma]

 

macleod  has been spot on https://kingworldnew...banking-sector/

  

 

yes, i believe at this juncture silver is the most undervalued asset on the planet. 

so , what do you do about that.?  comment!?  the premiums have come back down to earth

dharma

dharma i have no comment but a question.  If force majeure is declared by bullion banks, then what would happen, other than the bank crisis, to the prices of gold?  will it explode or collapse?  my guess would be 'explode' as it brings the crisis which the pm loves and because it makes clear the shortage of physicals to deliver which will kick the price up XX% instantly.  what is your thought on its ramifications for other than banks?

 

when that happens a confidence crises in the currency will follow.  now , folks get paid they  buy provisions, pay their bills, and 

hopefully save some. when the viability of the banks comes into question . folks will not want to hold currency they will buy provisions and such . and those that extra will buy stuff w/intrinsic value. its why i decided to add to dba i was encouraged by the performance of wheat , corn , and soybeans.  

by the way todays highs   were the highest gold has been since the highs in 9/11

i see a correction in august. 

dharma

[dougie]

have the miners ever doubled this fast?

[senorBS]

exited half of all longs, was about 70% long and now down to 35%, its been a helluva run and may still continue but I will not be a pig as all accts have screamed to new all time highs the past weeks. Also if one looks at GLD todays new highs and this last leg up is "currently" registering a 3rd weekly (and daily) divergence - now if this is a large wave 3 which it probably is then those divergences will get blow out as gold likely rallies to challenge 2000. However just in case that does not happen we could see a very nasty correction. So I hold a decent long position with a ton in da bank. as always DYODD

 

Senor

[dougie]

Longer look at SLV...VERY important area.....

 

yep interesting area to be sure

[dougie]

exited half of all longs, was about 70% long and now down to 35%, its been a helluva run and may still continue but I will not be a pig as all accts have screamed to new all time highs the past weeks. Also if one looks at GLD todays new highs and this last leg up is "currently" registering a 3rd weekly (and daily) divergence - now if this is a large wave 3 which it probably is then those divergences will get blow out as gold likely rallies to challenge 2000. However just in case that does not happen we could see a very nasty correction. So I hold a decent long position with a ton in da bank. as always DYODD

 

Senor

my same idea

 

exited half of all longs, was about 70% long and now down to 35%, its been a helluva run and may still continue but I will not be a pig as all accts have screamed to new all time highs the past weeks. Also if one looks at GLD todays new highs and this last leg up is "currently" registering a 3rd weekly (and daily) divergence - now if this is a large wave 3 which it probably is then those divergences will get blow out as gold likely rallies to challenge 2000. However just in case that does not happen we could see a very nasty correction. So I hold a decent long position with a ton in da bank. as always DYODD

 

Senor

what would your count be if the bearish scenario unfolds?

[senorBS]

 

exited half of all longs, was about 70% long and now down to 35%, its been a helluva run and may still continue but I will not be a pig as all accts have screamed to new all time highs the past weeks. Also if one looks at GLD todays new highs and this last leg up is "currently" registering a 3rd weekly (and daily) divergence - now if this is a large wave 3 which it probably is then those divergences will get blow out as gold likely rallies to challenge 2000. However just in case that does not happen we could see a very nasty correction. So I hold a decent long position with a ton in da bank. as always DYODD

 

Senor

my same idea

 

exited half of all longs, was about 70% long and now down to 35%, its been a helluva run and may still continue but I will not be a pig as all accts have screamed to new all time highs the past weeks. Also if one looks at GLD todays new highs and this last leg up is "currently" registering a 3rd weekly (and daily) divergence - now if this is a large wave 3 which it probably is then those divergences will get blow out as gold likely rallies to challenge 2000. However just in case that does not happen we could see a very nasty correction. So I hold a decent long position with a ton in da bank. as always DYODD

 

Senor

what would your count be if the bearish scenario unfolds?

 

it would be that a big 5 up in a LOT of stuff is ending here and a large correction would ensue, IMO it "could" coincide with being a major secondary top in S&P and NYSE etc with QQQ's having blown off to new highs, and then wave C's in Dow/S&P/Nyse go below the March lows and drag gold and silver down in large corrections. Just total speculation and conjecture on my part and like I said upside for now deserves the benefit of doubt for now IMO but also NOT a time to be complacent. And I still have a long but much reduced miner long and have will look for signs this may stall out and could exit the rest. Maybe I am just a worry wart but I am gettin older and more cautious

 

Senor

[ryanoo]

i think some of the rather wild speculations are interesting and healthy.  i agree Smithy that any such force majeure is unlikely.  Dharma, this kind of articles will keep feeding the necessary fear into market to drive things up.  today both slv and gdx had the c&h breakout and the target are very high for gdx (37+19=56) and slv (17+6=23) but it will take time with corrections along the way.  after some run up after this breakout the august correction would be very nice. i remember your comment about gold seasonals perhaps weakness around then and hopely the juniors will signal when.