GoldTent Oasis is dedicated to our friend and founder John F. Murphy (Wanka) of Key West, Florida without whom this website would not exist. Gone but never forgotten.
ENTER ~ Post by the Golden Rule. Gentlemanly conduct is the attire of the day. GoldTent Oasis is not responsible for content or accuracy of posts DYODD. ~~~~~~~
Well you certainly could be right as I have been wrong often enough to be cautious. Still I will carefully watch the shape of this rally should it come here. I know I am too conservative at times, but I have been investing in pm’s long enough to know long bear markets can affect your quality of life.
The Law Commission of the French Parliament has adopted a bill that will grant the right to vote and stand for election in municipal elections to non-EU foreign nationals residing in France
The French Parliament will now vote on it on Feb. 12th
Tks ….see my addition regarding the wave sizes….that the C waves are so small could be super bullish….and as we have such good Fib fits, I think the count is good….we now wait to see.
That the wave particularly in AG is so large in price, might mean it is all of the correction.
The down can be counted as you have shown (although a 5 wave count down is also possible), regardless though it is likely imo that it is just the 3 or 5 wave A. If so, the B wave should using the rule of thumb retrace half of the A wave and then again using the rule of thumb the C down should equal the length of the A. I know you are aware of this but I post it for an IMO for the others.
A dn = 50.25 Dollars…B up = 19.8 or 38 % of A, perfect Fib No
C = 28.18 or 0.56 of A, and 1.42 times B, again a near perfect Fib
A = 1196.35 $ B + 689.55 or o.57 of A not far from O.62 Fib
C = 436.66 or 0.62 of B perfect Fib and 0.36 of A….v near 0.38
plus each wave so far has been 3 days an exact Fib No……
Was this all of a Larger A wave down and we now rally in a larger B …twds recent Hi’s or was it all of the correction time will tell, but the perfect Fib No’s say and entire dn wave has been completed…..and in 3 waves…which confirms a corrective wave only …..again O/n action suggests we are done down for either a while or longer….
If this scenario plays out the fact that the C waves are both smaller than the A waves, especially so in Au…..is a v bullish sign …in Golds case super bullish.
The ridiculous Shanghai (I’m calling it that now) put their heads together and gave us a pm fix last night of $82.42 after an overly generous (to the shorts) am fix of $76.83. It’s become clear that there’s very little difference between exchanges as they both answer to big money interests and will direct prices in favor of said interests. Markets aren’t markets they are directed money flow agents of the decision makers, who are the tools of the powers and principalities who run the actual world.
So, after pondering all that, I decided to take a look at the pre-market shares to see what the powers were going to give back after yesterday’s drubbing, (since they’ve been so generous with the metals thus far) and it appears they’re offering the usual 10 cents on the dollar.
I don’t know why Bitcoin is selling off but I wonder if as least some of it was sold to purchase tangibles like PMs especially if their realizing the shortages and still outside the banking system if you hold it. Maybe even some of the stocks too. Not saying the only reason. Just like when Bitcoin got going and the PMs kept down some of the PM money moved to Bitcoin or the Bitcoin miner stocks.
Gold’s rally took it to all-time highs just shy of $5,600 on January 29 before prices plunged to $4,403 an ounce on Monday, with the meltdown and profit-taking sparked by U.S. President Donald Trump’s nomination of Kevin Warsh to be the next Federal Reserve chair.
Analysts believe the factors driving gold – including geopolitical risks, robust central bank buying, concerns about Fed independence, rising U.S. debt, trade uncertainty, and de-dollarisation – will continue to support the safe-haven asset in 2026.
“Gold’s thematic drivers remain positive and we believe investors’ rationale for gold (and precious) allocations will not have changed,” analysts at Deutsche Bank said.
Analysts expect central banks to keep adding to their gold reserves as they diversify and reduce reliance on the U.S. dollar, although jewellery demand is likely to contract further in key Asian regions due to high prices.
What about the naked longs? I suspect a lot of them are momentum traders noticed the uptrend, and climbed into our sand box going long on contracts, ETFs etc. Naturally they came in late and high, and after prices start dropping, they cash out or sell the paper.
It could be Contracts, SLV or GLD etc etc. They have nothing real to sell, so they are naked longs, driving prices too high and then driving them too low. We’ve already seen crazy highs and crazy lows, but the primary trend is up.
I think they created those things as decoys to take investor’s attention away from precious metals, holding the prices net down for decades, but its not working so good anymore because of the obvious new highs anyway.