Do you think the US government will confiscate and revalue gold like they did in 1933?
Total Voters: 36
Loading ...We’ll see what Shanghai says. Asian Guy said $74.50 – 75.26 was the floor based on some Fibonacci lines.
He’s been pretty solid on the way up in terms of his targets. We’ll see if he’s right this time.
I have a hard time seeing the scum letting us close the year on a positive note. They are the scum after all.
Are the market open on Friday Jan. 2nd? Full day? Half day?
Just edited his Fibonacci level – it was 70 not 30.
1000 that’s crazy. When Trump was elected I knew immediately metals would profit vs demos where greens okay just not the mines stupidity and particulary platinums but was side tracked on a death and health issues and wasn’t sure there was gonna be a later but managed to save myself that token
Finally decided to buy some miners for later after the move including the American mine just Incase Trump looks at it. I identified MP right away before the move took but cest la ville. Then I started noticing China like blackrock into everything then these prices and verified by the Trader Ferg who’s been doing his homework they are aggressively cornering the market in more than just silver and why platinum was moving up so fast. The higher prices are bait like the spider to the fly and these paper traders it might have been going right over their head selling for higher prices decoupling from reality they want the phyz and there not gonna sell it back. It says these metals will cost a lot more down the road or not be able to. Get it at all..weaponizing it. And you wonder how wars start.
Maybe worse they expect they can buy it back for lower prices after they play their paper games. Oh they’re so smart. Not gonna happen. So now China has 80 percent of the platinum?? They’ve been going after everything for years. It will be copper, tin, steel, Aluminum and rare earths next.
The new battery keeps silver as a immediate priority among a larger demand from multi sectors of manufacturing but also a distraction away from the others.
Trump isn’t sleeping either he’s checking out the mines and explorers.
The 10 year has a head and shoulder top on the daily and weekly chart.
Looks like more inflation coming which should support the metals.
rno
Silver stocks should be the best buy of any asset class. Just not today I guess.
Gold sucked all day, pretty much drip sold all day.
One more day and 2025 is toast.
I think China et all are just printing money, and getting rid of it for metals. The old methods of saving money, putting it into regular stocks bonds and real estate will gradually end. Who the hell needs people hoarding houses? Driving prices higher. Its ok to hoard gold and silver, it won’t hurt anyone, except jewelers.
Note the D/T….once that goes….AG shares shud fly
So China is buying anything and everything spare. !!!!!!
Got this from Grok
The “dollar premium” refers to the difference in USD per troy ounce between platinum prices on Chinese exchanges (primarily Shanghai Gold Exchange/SGE or Guangzhou Futures Exchange/GFEX spot/physical-equivalent) and the NYMEX (COMEX) futures/spot benchmark in New York.
NYMEX Platinum Price: Approximately $2,158 USD per troy ounce (front-month futures/spot benchmark).
Shanghai Platinum Price: Recent reports indicate trading north of $3,100 USD per troy ounce on Chinese platforms amid strong industrial stockpiling and physical demand tightness (similar to the ongoing silver squeeze).
Dollar Premium: Shanghai is trading at a premium of approximately $900–$1,000+ per ounce over NYMEX (based on late-December data where Shanghai exceeded $3,100 while global benchmarks were lower).
Tks v much for that trader Ferg….huge amount of great info tks again.
Sorry to hear about Eagle Eye. We have watched many oasis and gold tent members pass on. I would guess most people on this site are of advanced age.
i have been wondering if Trump is going to pull the rug out from all those folks who have money offshore that was illegally obtained. If we get a new currency which requires the old dollars to be exchanged for new ones, lots of folks are be holding an empty bag if they can’t prove they got it legitimately.
The best example of this is when the Japanese devalued the yen. The insiders bought wheat on the CBOT on Friday and sold it back on Monday after the devaluation. Another was when the Euro was implemented. Government and crooks (is there a difference ?) can manipulate and hoard paper. Metal in your hand is one of the few diffences.
It appears we are getting our inside day up along with a new high close on the Comex.
rno
I thank you for pointing that out. I just corrected the post.
These days in my area houses are $700,000 (plus) divided by the old 50 ounces of gold puts gold at $14,000/oz.
I remember Gold hit $800/oz. A house back then was $40,000. Divided by $800 gold comes out to 50 ounces of gold to buy a house.
These days in my area houses are $700,000 (plus) divided by the old 50 ounces of gold puts gold at $40,000.
Today houses at $700,000 divided by gold at $4,387 comes out to 159 ounces of gold to buy a house today.
Also back around 1980 silver at $50/oz made a $1000 face value bag of junk silver (715 oz) at $35,750 so a silver bag could buy a house.
Today with houses at $700,000 here a $1000 face value bag of junk silver (715 oz) a bag of silver would have to be $700,000 or silver at $979/oz.
So, unless houses start dropping, the AU AG peaks should be $40,000/oz gold and$979/oz Silver. I also suspect after Gold gets back above $4400 we will never see $4400 again.
They saw the spike in bids during after-hours (light grey shade), and they were like, ‘Cool the Silver complex off.’
Eagle Eye is about to pass at 88yo. Maybe a day or two. I wish he could have seen this.
We may be looking at a new high close today.
rno
that Crimex paper silver is being pushed toward the Shanghai physical price to eliminate any ideas one might have about arbitrage. So let’s hope that Shanghai stays elevated. As long as there is a supply problem, I don’t see why this changes.
Nice bounce back $77.38
Shares getting half their losses back from yesterday in most cases. At least among the ones I watch.
While most investors and the financial world are fixated on tech stocks, they’re foolishly overlooking the best investment opportunity of the next decade: gold and silver mining stocks.
I believe this opportunity is so tremendous, it’s like buying Amazon, Google, or Nvidia back in 2010—just before their massive surge.
Moreover, tech stocks are now overly discovered by the public, making them a crowded trade.
Let’s put it this way, the proverbial shoeshine boy and his buddies are all-in on tech stocks right now.
As a result, tech stocks are overpriced and I believe they will deliver meager returns in the years ahead, while mining stocks will outperform them significantly.
One of the main reasons I’m so bullish on mining stocks is that, unlike tech stocks, they are criminally undervalued based on numerous valuation metrics, including their valuation relative to gold as shown in the chart below.
The Philadelphia Gold and Silver Index tracks gold and silver mining stocks and is currently hovering near multi-decade lows relative to the price of gold.
I believe miners are poised for a strong comeback, and if they simply return to their historical relationship with gold, they should quadruple from current levels.
This does not even take into account the continued rise of gold as its bull market continues to unfold.
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Additional confirmation that gold and silver mining stocks are deeply undervalued comes from comparing them to the S&P 500, the benchmark index of the U.S. stock market.
These stocks cannot stay this cheap and overlooked much longer in the middle of a powerful bull market in precious metals, which, based on historical trends, has at least another eight years to go.
I strongly believe investors are about to wake up to the fact that gold and silver mining stocks are the cheapest investment opportunity on the planet in a world filled with overpriced assets, and they will rush in quickly and send miners to the moon.
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Finally, for further confirmation of my bullish outlook on gold and silver mining stocks, I want to share the chart of the S&P/TSX Venture Composite Index.
This is a broad market index of Canadian micro-cap securities, many of which are junior gold and silver miners.
This index has spent more than a decade trading in a range between support at 400 and resistance at 1,000.
The index is now approaching a breakout, and I believe it will happen soon.
When it happens, I expect it to mark the beginning of an explosive bull market in mining stocks, particularly junior gold and silver miners.
This is a very exciting setup that I’m closely watching and waiting for.
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I believe I’ve made my case that gold and silver mining stocks are the absolute most promising investment opportunity of the coming decade.
As the sector rises significantly, savvy investors will build generational wealth, with many individual miners delivering 10x, 20x, 50x, or even 100x returns.
This is not far-fetched, as those kinds of gains occurred during the mining stock bull markets of the 1970s and the 2000s.
If you found this free report valuable, it’s just a sample of the in-depth content that premium subscribers to The Bubble Bubble Report receive on a regular basis.
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Kind regards,
Jesse Colombo
Precious metals analyst and investor. Advocate for free markets and sound money. Recognized by the London Times for predicting the 2008 Global Financial Crisis.
56.56 and sinking…
The upper band is at 76.60 in Crimex silver. The slope is up. Silver has bounced off this upper band all the way up on this latest rally.
So far. The moving averages in the metals has provided good support.
Th3 higher we go, the more intense the volatility will become.
rno
I have always looked at the shares as having a lot of similarity to metal futures. The value of the stock share is partly based on expectation of future earnings. Future earnings are mostly based on the price of the metal at that time. If you look at the silver futures backwardation, it shows that the metal is needed now not so much in the future.
aurum
Yes, nice that we’re not continuing down after yesterday’s beating. The shares are pathetic though and shouldn’t be. Maybe they’ll get better after the first hour or next week when everyone gets back from vacation. If not then, when?
The paper kings are really doing battle in the silver pits this am while gold inches higher.
Just a few flags on A.G. I ran across one he was encouraging people to have 500 oz and continually buy. Red flag one telling them to sell gold in one and now buy a certain amount because that’s the amount the government looks at, 500 oz or more also those who continue to buy large numbers. So some AI telling you what to buy now?
Also is it a distraction while China is trying to corner the market in all metals and rare earths. Also in smelting. Also If I were a big business that needed any of these metals or rare earths I’d be sending experts out to find mines to buy their metals from before China gets to it next. Happy New Year..
The giant silver shorts have got to be a tad disappointed! They used all this firepower, thousands more shorts and the price is recovering already. Entities that want more physical just said: Thank you very much and resumed buying.
It sucks to be a silver short! 🙂
KOW knock on wood
China also cornering the market in Platinum.