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Thread: US Dollar vs. gold and silver

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  1. #16
    us
    Mar 2009
    A Place In Heaven
    Excalibur 1000, Garrett Scorpion.
    1,985
    287 times
    All Types Of Treasure Hunting
    Hi! Ya! Jim. Happy New Year, as for the PM's I just don't see anything happening price wise, just up and down.
    jim4silver likes this.

  2. #17
    us
    Jan 2016
    South of Gunnison, Gold Basin
    F2
    1,745
    1938 times
    Prospecting
    Weird how everything has been rising at the same time. Usually its opposite.

  3. #18

    Apr 2008
    3,611
    440 times
    Looking at the silver chart today Feb 7 it looks like a head and shoulders might be in the making. Technically silver is still riding the upward trend line so all is well. But if tomorrow or later in the week it drops convincingly below say 15.50 to 15.40 or so it will have broken the line in the making since the end of November.

    http://schrts.co/FGjJvPtF



    Looking at the dollar, it appears it might be forming an ascending triangle pattern since mid December. If that turns out to be the case, that is a bullish pattern generally. Since the dollar and gold/silver move inversely generally, it would make sense if silver is forming a head and shoulders (bearish), that the dollar would be forming bullish pattern. But it's still too early to tell either way. But we should know in a few days time I would guess.

    https://stockcharts.com/school/doku....e_continuation

    dollar chart

    http://schrts.co/DJxgHqRT

    If silver is forming a real head and shoulders eventually (we still need the right side of the head to further develop then the right shoulder), then expect the price to go to low $14s if not lower.
    Last edited by jim4silver; Feb 07, 2019 at 09:41 PM.
    R.I.P. Rich Hartford

  4. #19

    Apr 2008
    3,611
    440 times
    Quote Originally Posted by jim4silver View Post
    Looking at the silver chart today Feb 7 it looks like a head and shoulders might be in the making. Technically silver is still riding the upward trend line so all is well. But if tomorrow or later in the week it drops convincingly below say 15.50 to 15.40 or so it will have broken the line in the making since the end of November.

    http://schrts.co/FGjJvPtF



    Looking at the dollar, it appears it might be forming an ascending triangle pattern since mid December. If that turns out to be the case, that is a bullish pattern generally. Since the dollar and gold/silver move inversely generally, it would make sense if silver is forming a head and shoulders (bearish), that the dollar would be forming bullish pattern. But it's still too early to tell either way. But we should know in a few days time I would guess.

    https://stockcharts.com/school/doku....e_continuation

    dollar chart

    http://schrts.co/DJxgHqRT

    If silver is forming a real head and shoulders eventually (we still need the right side of the head to further develop then the right shoulder), then expect the price to go to low $14s if not lower.

    Based on the chart action since this last post above, I believe silver is going to drop again, for short the term. I hope I am wrong. If it does drop I think we will be back in the 14's, maybe high 13's for a short time?
    Johnnybravo300 likes this.
    R.I.P. Rich Hartford

  5. #20
    us
    Jan 2016
    South of Gunnison, Gold Basin
    F2
    1,745
    1938 times
    Prospecting
    The market is getting pumped hard by stock buybacks so should keep PM's down for awhile I'd think.
    Strongest and longest recovery ever and everything is just dandy as long as you dont pay attention to leading indicators hehe.
    jim4silver and MotherOfGeeks like this.

  6. #21

    Apr 2008
    3,611
    440 times
    Quote Originally Posted by jim4silver View Post
    Based on the chart action since this last post above, I believe silver is going to drop again, for short the term. I hope I am wrong. If it does drop I think we will be back in the 14's, maybe high 13's for a short time?
    Looking at the silver chart it appears that lower is more likely than higher at least in short term. Here is a broken uptrend for silver.

    http://schrts.co/mPSBxqsz
    A2coins likes this.
    R.I.P. Rich Hartford

  7. #22
    us
    Jan 2016
    South of Gunnison, Gold Basin
    F2
    1,745
    1938 times
    Prospecting
    https://www.cnbc.com/2019/03/05/the-...t-stories.html

    Weird to see an article like this from one of the cheerleaders.
    A2coins and MotherOfGeeks like this.

  8. #23

    Apr 2008
    3,611
    440 times
    The silver chart looks pretty bad. I believe there is a good chance we will break below $15 this week. Probably be a big drop/slam when it happens. I hope I am wrong.
    R.I.P. Rich Hartford

  9. #24

    Apr 2008
    3,611
    440 times
    Silver chart and COT are still looking bearish. I believe in the coming week(s) we will get to low 14 maybe fall into 13s. Usually on drops the local coin stores get buyers. The local stores are seeing far more sellers than buyers from what I've been told. I saw it myself the other day at one store. I was the only one buying and had 5 or so other parties there selling silver and gold.

    Buy high, sell low....
    R.I.P. Rich Hartford

  10. #25
    us
    Jan 2016
    South of Gunnison, Gold Basin
    F2
    1,745
    1938 times
    Prospecting
    Youd have to be pretty hard up to sell right now. Either that or they bought at $4.

  11. #26

    Apr 2008
    3,611
    440 times
    Quote Originally Posted by Johnnybravo300 View Post
    Youd have to be pretty hard up to sell right now. Either that or they bought at $4.
    Human psychology can be a funny thing. Some of these sellers bought for the wrong reasons (they thought silver was going to $100 really fast, etc) and now might believe silver is going to $5 and they just want to get some of their money back. Some probably need the cash too of course.

    Some investors get bored and want action, so seeing silver stagnate for a few years and then drop, rinse and repeat, they want the cash to do something else, maybe buy bitcoin or penny stocks, etc.?

    I have been buying cool stuff cheap when it is available. Lately I've picked up some nice foreign bullion for $18-$20 per oz (fancy coins in boxes with COA, etc). Many of these coins retail $40+, some higher, some only a few bucks more than what I pay.

    I know my dealers pay these folks melt or less (if sterling coins) so they are happy to flip the coins to me for a few bucks over (but I usually am expected to buy the entire lot- I can't just cherry pick the best stuff). None of the dealers I buy from sell on ebay, which is great for me.

    I am surprised to see the level of cool stuff being dumped at these low prices. That tells me we might be getting closer to a bottom if collectors are selling their stashes even when prices are down. I don't think all of these sellers are desperate for cash.

    I think a lot of folks are so used to low silver prices these days, that they don't care to wait any longer hoping for the big price gains.
    Last edited by jim4silver; May 07, 2019 at 03:14 PM.
    R.I.P. Rich Hartford

 

 
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