Jump to content

Gold/Silver rally at an end?


Mercury

Recommended Posts

For now perhaps this leg of the rally is over but long term, once the stocks and bonds market bubbles burst I think Gold and Silver will soar.  Commitments of Traders (COT) data are at all time highs for Gold and Silver and the non commercials are uniformly bad at calling the end of a trend, piling in just as the trend concludes.  Last week there was another COT surge in Silver, although Gold backed off a bit (cold feet?).  When main stream media start singing the praises of something that usually spells the end too.

 

Check out this article (link below).  I agree with the Black Swan moment and I think that will be asset bubbles bursting all over the place but we aren't there just yet.  I think we need to see another leg up in the suckers rally on stocks first and that could result is a coincidental drop in Gold/Silver to a retrace support point and then...

 

Anyone got a view they would care to share, especially to the contrary?

 

https://news.markets/commodities/gold-rallys-seen-best-days-rbc-23594/

 

Link to comment

That was fast, good ol' NFP, I guess the market is now reassessing their probabilities of a Fed rate hike upward.  I think we can declare the current Gold and Silver rally aborted, at least for now.  I remain long term bullish but we need to see a significant retrace into an EWT Wave 2 retrace point before the next very strong rally wave.  There are several possible turning points so we will have to track it and see but so far I think we have already seen the A-B part of an A-B-C pull back so I expect this next move down to be a fairly strong 1-5 wave affair.  50% Fib is the most likely on this market in my view.  For now Shorting Gold and Silver is the way forward until that Black Swan moment arrives.

 

Anyone got a view they would care to share?

Link to comment

Archived

This topic is now archived and is closed to further replies.

  • image.png

  • Posts

    • The BLUM project has recently gained attention in the cryptocurrency community due to several developments such as  Introduction of a mining game on the TON ecosystem, allowing users to earn $BLUM tokens.  Announcement of new strategic partnerships Upcoming features including Tribes and Memepad functionalities.  Active community engagement through events and rewards 5. Recognition from notable figures in the crypto space Key upcoming events: Token Generation Event (TGE) for the BLUM mining game scheduled for September 20, 2024 Coinciding airdrop of BLUM tokens to the community The project plans to provide liquidity on centralized exchanges such as Bitget and Binance, as well as decentralized exchanges like Uniswap, Curve, and PancakeSwap. These developments have contributed to increased discussions about BLUM on social media platforms, particularly Twitter. As the crypto landscape evolves rapidly, interested individuals are encouraged to stay informed about BLUM's progress through official channels and related TON communities like r/TONDiscussion.  As with any cryptocurrency project, potential participants should conduct thorough research and consider their own risk tolerance before engaging.
    • Counter Fire is poised to redefine the gaming industry with its innovative blend of competitive gameplay and blockchain technology. The game offers multiple modes, including team-based matches of quads, duos, and solos along with solo missions, with deep customization options and dynamic battle scenarios. While the core gameplay of Counter Fire is similar to PUBG, a battle-royal where the last-man or last-team standing wins in a survival gameplay, users earn while playing Counter Fires. The project has been buzzing the ecosystem as the airdrop claim went live today so users can claim their $CEC and await listing on 9th Sept. While gamers continue to claim their tokens, some analysts have start speculating that the project will redefine the gaming landscape citing the project partnership with likes of YoubiCapital, HASHKEY, KERNEL ventures and many more and the fact that the project raised over $5 million as the base for their argument. The project partnership with Bitget could also be a reason it continues to gain such exposure as players can only claim their token to the exchange. Though, as players claim their token to the exchange, they could benefit some reward from the 1 million $CEC reward pool. I still think many exchanges should list the token so gamers can have many choices.
    • Hi @feirb1, Thank you for your post. Please note that we offer T-Bills for trading on leveraged accounts. By trading these, you will be speculating on the price movements. This means that, when trading, you´ll never take ownership of an actual t-bill. Instead, you´ll take a position on the market either rising in value or falling. Thanks, KoketsoIG
×
×
  • Create New...
us