Silver Monitoring Thread $ (USD) only

[dicker]

1 hour ago, Tn21 said:

Silver back up to 21 bucks and some. 

Halfway to 22 bucks 

Big move, 

Price action today is exhilarating 

 

 

 

5pct today.  When silver moves, it really does shift!

[Tn21]

To break above 22usd would be fantastic and if it holds even better. 

What a day so far for the poor man's gold 

[Tn21]

22bucks babbbeeyyy

[Tn21]

Gone past 24 bucks just now, 

[silversky]

If silver makes a full 100% retrace to the 24.6 area, then I'll feel far more confident about it consolidating and making a push out of the down trend.  It's such a steep rise that steep falls are usually on the cards after that.  If it can break and hold for a few weeks of sideways trading, then that would be a very strong signal for action in the summer.  I remain to be convinced though.  The banking dramas will be capped in my opinion.  Just a feeling but what do I know hahaha

[Scuzzle]

Up a Buck in 2 hours, the world must be ending!

[Cointreau]

Silver just jumped half a dollar. What happened?

[Cointreau]

Disappointing inflation numbers coming out of America.

[DarkChameleon]

14 minutes ago, Cointreau said:

Silver just jumped half a dollar. What happened?

strong silver equals weak dollar...the fix will kick in but I see 

I see $26 being cracked before back to $24.

[Cointreau]

20 hours ago, DarkChameleon said:

strong silver equals weak dollar...the fix will kick in but I see 

I see $26 being cracked before back to $24.

I traded that boomerang bounce yesterday perfectly. My timing was fortunate. I will keep trading any corrections on my IG account as we are in an uptrend now.

Is $2000 a baseline now for gold? Cos recent downward smashes have amounted to little. Incidentally, I hear Blackstone is in trouble and their clients can't get their money out.

[Cointreau]

Is this a good old fashioned paper driven smashdown?

[EdwardTeach]

2 hours ago, Cointreau said:

Is this a good old fashioned paper driven smashdown?

I would guess so. They couldn't let it pass the Thursday 6th of April 2020 all time high of $2050 because that would ring too many alarm bells with Joe public about the banking troubles which are still ongoing.

Edited April 14, 2023 by EdwardTeach

[HonestMoneyGoldSilver]

 

[DarkChameleon]

On 13/04/2023 at 05:25, Cointreau said:

I traded that boomerang bounce yesterday perfectly. My timing was fortunate. I will keep trading any corrections on my IG account as we are in an uptrend now.

Is $2000 a baseline now for gold? Cos recent downward smashes have amounted to little. Incidentally, I hear Blackstone is in trouble and their clients can't get their money out.

People are moving money around banks right now, they are holding g/s for nkw, still hard to come by and suppliers are on three week fills for orders of metal, premiums are horrendous, even buy back are over $12 above spot for eagles...unless suppliers reduce their premium it's going to hold high..the gang of 16 holds the metals high right now, it's down to Silvertown to sell more planchettes to the mint to reduce premiums and price of eagles...is that going to happen?...not likely.

[EdwardTeach]

3 hours ago, DarkChameleon said:

they are holding g/s for nkw

nkw?

[DarkChameleon]

6 hours ago, EdwardTeach said:

nkw?

big fingers, small tablet..NOW

[HerefordBullyun]

Blatant manipulation in the COMEX today regardless of CPI figures were better than expected.

[HonestMoneyGoldSilver]

@HerefordBullyun  I've set it to start at the relevant point but also check out 6mins 15seconds. 

What I want to know is when this is common knowledge why are JPM/COMEX/LBMA still allowed to manipulate markets with impunity? 

 

[silversky]

In reply to the video above where he talks about gold, it's not really that big of a day in the recent scheme of things.

The red high wave doji indicates indecision.  Personally I don't think much will happen until gold tracks either gently down, or sideways, to meet the lower tramline.  At that point, there will be a decision made as to whether the market will collapse or set off upwards to all time highs. latter half of May looks like contact will be made and the tramline tested.

Pulling out a bit more, I expect that once the lower tramline is touched, if it breaks, gold will retreat back to the next tramline towards the second half of June as marked by my scrawl...  Silver will likely play out a similar pattern but it has further to fall given it's closer to the top of it's recent rises.

Silver has a bit more potential for a bigger drop imo.  It's hard to see where the psychological support will be, but perhaps down in the 23 range to bounce off, or even all the way back down to the tramline marked around the 21/22 area if gold takes a drop in late June.

Just my unqualified and baseless ramblings of course.

 

 

Edited May 11, 2023 by silversky

[gji25]

 

[silversky]

My latest view on where this will end up. hehe.

Hard to draw with the mouse, but there's lots of options that involve time to build up some sort of triangle, with an entry in the low 23s looking quite likely.  21 remains a good possibility as well over the next 6 weeks, which is why I would sit it out until next month.  There is always the possibility that a massive plunge is on the cards in the coming days, and a plunge is more likely than a massive rebound to new highs imo.  Gold would have to really outperform if it was to drag silver up with it, and I don't see that happening yet.

[HonestMoneyGoldSilver]

Some confirmation bias to make me feel better about silver and JPM:

 

Gold/Silver: It's time to position for another 'Silver Squeeze' | Kitco News

[HerefordBullyun]

Silver hit a peak 23.80 this morning but then the MM's tamped it down and gold as they didnt want to see the $24 mark back around 23.58 before US start trading I am expecting another tamp at 14.30 when the desks open again in US probably back to the 23.40 mark... Hold tight the Fed Pause is coming now in June - can feel it my bones

 

[HonestMoneyGoldSilver]

IDK who is Jim'll Fix It today but it looks like the markets are itching to close the week above $24. I hope they get there!

[HerefordBullyun]

Citigroup Projects $30 Silver In The Next 6-12 Months

https://www.zerohedge.com/markets/citigroup-projects-30-silver-next-6-12-months