silversky

The weekly chart isn't bearish at all.  And any sort of rise back to say 1920 or so would make the daily and hourly look terribly bullish again.  This is the long awaited spike and drop, we just have to see where it reverts before deciding whether it's a buy sell or neutral outlook..  As I said to Roy about 50 pages ago now (in reality just 16 hours ago ),  Wait.  See where the vibrations settle and then make a call.
The shorts got their bottoms spanked and washed out to sea.  That's always what happens in a crazy explosion like this.  Even the longs will have got all sorts of positions triggered in and out by mistake.  Gonna be a few days to settle and choose a direction, and the rest of the market is still sloshing around too.  I might sell a little this weekend and take some off the table.  Who knows.

So, not been here for 15 hours. This thread has gone from page 820 to 838. No chance of catching up!
And, for a change, I'm not to blame for a large percentage of the comments!

Hmmmm.  Skip to last...  

Seems incredible that gold has put on 18% in just under 6 weeks.  And it's done it by breaking the strong inverse correlation with the dollar.  The contrarian in me says to sell a bit and take something off the table, but I really don't know if this might just keep going?  Short term maybe a bit of a pause or a drop has to come eventually, but this year if they do finally cut rates then there's even more fuel for PM's to react positively.
In the meantime its trying for 1900 again. £1894 and rising...

Hmmmm.  Skip to last...  

Hmmmm.  Skip to last...  

Shorts getting washed out to sea in this storm.  Who knows where it will end, but some people are going to end up bald.  

Silver up 4% so far today.  Not sure I've ever seen it like that before.

I know it's tumbleweeds in here...  but Silver just broke the high from back in 2020!!  Silver chalked up the highest price it's been in 12 years...  

Shorts getting washed out to sea in this storm.  Who knows where it will end, but some people are going to end up bald.  

Shorts getting washed out to sea in this storm.  Who knows where it will end, but some people are going to end up bald.  

Shorts getting washed out to sea in this storm.  Who knows where it will end, but some people are going to end up bald.  

Shorts getting washed out to sea in this storm.  Who knows where it will end, but some people are going to end up bald.  

I only got about 5 today before running out again...    Need to print a few more of those too...  

Silver up 4% so far today.  Not sure I've ever seen it like that before.

That would be me....  
In our little poll Wednesday, only myself and Paul dared to imagine that it would be Up, by the end of this week.  The rest who committed were Neutral, with only one calling it Down...  And then of course there's James who voted twice... but as promised, he voted Neutral and didn't win...   To be fair, there's still time for it to lose £50 by the close, but I'll take a double or nothing on that one...

For xauusd


For gld

Looks like the US price is moving up into the stops zone...

I think it's partly because no one expected it.  That phrase about the "market existing to disappoint the most number of people" really seems to hold some weight sometimes.  The QE times made no sense at all.  It was strange to see vast amounts of nothing created and theoretically used to purchase real money and it not effect the price positively.  And then now, rates not coming down and gold powers on up against the expectations of those who piled in short.  As you say, no one really knows why, best just to enjoy the show.

Thanks.  They must have been badly burnt.  Might be a few new ones right now, but probably waiting for a big jump before getting involved
£470 is wild for a sov.  Hard to believe.

£22.9999
edit: £23 just been touched

I know it's tumbleweeds in here...  but Silver just broke the high from back in 2020!!  Silver chalked up the highest price it's been in 12 years...  

I know it's tumbleweeds in here...  but Silver just broke the high from back in 2020!!  Silver chalked up the highest price it's been in 12 years...  

Kaboom