silversky

What size is said box? Asking for a friend..

I'd be happier if I knew who was selling and why.

If we look at the underlying USD chart, the candle produced is not too dissimilar to the one in December when the massive spike and dump occurred during illiquid Sunday night trading.
That December spike occurred at the end of an 8 week move upwards, and it heralded a little fall before range trading sideways for three months.  It then broke out from the inverse dollar relationship 6 weeks ago, rising relentlessly before making this big spike in the last 24 hrs.  The question is whether this is it? Or whether it will drop back towards 2300 area and enter another range trade type of pattern?  Is there any likelihood of further strong declines in precious metals? Or is the downside reasonably protected by past inflation?  I can't see it but I didn't see this spike either, or is there is any fuel left from whoever the secret source is that's bidding up gold like this?  This isn't Central Bank buying, unless one has declared war on the others or something outlandish....
There is talk of big hidden OTC trades exceeding the size of China's Central Bank, but that all sounds a little bit crazy to me.  Then again what else explains the rise when actual sales aren't enormous?  It's not exactly transparent.  I suspect a period of reflection a bit like after December is what's coming for a bit.

If we look at the underlying USD chart, the candle produced is not too dissimilar to the one in December when the massive spike and dump occurred during illiquid Sunday night trading.
That December spike occurred at the end of an 8 week move upwards, and it heralded a little fall before range trading sideways for three months.  It then broke out from the inverse dollar relationship 6 weeks ago, rising relentlessly before making this big spike in the last 24 hrs.  The question is whether this is it? Or whether it will drop back towards 2300 area and enter another range trade type of pattern?  Is there any likelihood of further strong declines in precious metals? Or is the downside reasonably protected by past inflation?  I can't see it but I didn't see this spike either, or is there is any fuel left from whoever the secret source is that's bidding up gold like this?  This isn't Central Bank buying, unless one has declared war on the others or something outlandish....
There is talk of big hidden OTC trades exceeding the size of China's Central Bank, but that all sounds a little bit crazy to me.  Then again what else explains the rise when actual sales aren't enormous?  It's not exactly transparent.  I suspect a period of reflection a bit like after December is what's coming for a bit.

If we look at the underlying USD chart, the candle produced is not too dissimilar to the one in December when the massive spike and dump occurred during illiquid Sunday night trading.
That December spike occurred at the end of an 8 week move upwards, and it heralded a little fall before range trading sideways for three months.  It then broke out from the inverse dollar relationship 6 weeks ago, rising relentlessly before making this big spike in the last 24 hrs.  The question is whether this is it? Or whether it will drop back towards 2300 area and enter another range trade type of pattern?  Is there any likelihood of further strong declines in precious metals? Or is the downside reasonably protected by past inflation?  I can't see it but I didn't see this spike either, or is there is any fuel left from whoever the secret source is that's bidding up gold like this?  This isn't Central Bank buying, unless one has declared war on the others or something outlandish....
There is talk of big hidden OTC trades exceeding the size of China's Central Bank, but that all sounds a little bit crazy to me.  Then again what else explains the rise when actual sales aren't enormous?  It's not exactly transparent.  I suspect a period of reflection a bit like after December is what's coming for a bit.

Put the caviar down...today is a soup day!!

Excellent explanation and much appreciated . Just can’t show it 🙁. This emotion limit for silver members is really boring.
If I could I would. ❤️❤️❤️❤️❤️😀😀😀😀😀❤️❤️❤️❤️❤️

Gravestone doji......

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.

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...