Loading ...We won’t do that today, but we won’t close down here either – below $100. Too many bank shorts.
Ferret is right, if this is truly a supply shortage, nothing is being resolved by the price dropping below $100. Buyers will come in to pick up every available ounce. If it’s all been speculation, then this is a bubble and we’re going down a lot further.
If someone told me gold would be at $5K at the end of January, I would have kissed them.
Best guess we close between $105-$108 in silver, and $5100-5200 gold.
The shares suck, so they’ll lose 10% no matter what happens. If they do better than that, it’s a gift.
I see as I’ve written silver is back above $100. Hopefully we consolidate for a little above $100 and then let supply figure out what they got. Refineries aren’t moving any faster, some are still shut for maintenance.
The only thing leaving London, NY and Chicago today is paper. They better get it right.