Jump to content
  • The above Banner is a Sponsored Banner.

    Upgrade to Premium Membership to remove this Banner & All Google Ads. For full list of Premium Member benefits Click HERE.

  • Join The Silver Forum

    The Silver Forum is one of the largest and best loved silver and gold precious metals forums in the world, established since 2014. Join today for FREE! Browse the sponsor's topics (hidden to guests) for special deals and offers, check out the bargains in the members trade section and join in with our community reacting and commenting on topic posts. If you have any questions whatsoever about precious metals collecting and investing please join and start a topic and we will be here to help with our knowledge :) happy stacking/collecting. 21,000+ forum members and 1 million+ forum posts. For the latest up to date stats please see the stats in the right sidebar when browsing from desktop. Sign up for FREE to view the forum with reduced ads. 

Anyone feel a pullback incoming?


TheGoldSovereign

Recommended Posts

My gut is telling me we could be in for a pull back pretty early this week. How many dealers will try and dump their stock, or do they generally try and wait large moves out?

Just hearing of so many people here selling their stack to dealers that they must be in a pretty exposed position right about now, I've not bought anything since brexit, and have my cash ready to buy the dip!

The Gold Sovereign

The Gold Sovereign aims to provide the most complete online resource to collectors of the world's most popular gold coin - the Sovereign.

www.thegoldsovereign.com    |    contact@thegoldsovereign.com

Link to comment
Share on other sites

  • Replies 55
  • Created
  • Last Reply

I think it is realistic to expect a dip in gold and silver prices, probably more extreme for silver if the last correction was anything to go by. These I traditionally call buying opportunities. Precious metals are volatile by historical standards and pullbacks of significance are to be expected. Its the long term direction that matters ultimately.

That said, I have seen an interesting comparison of the chart movements today and the chart movements in the 1980's. After gold hit the new all time high in dollar terms, it corrected much in the same way as happened in 2011. After a couple of years (1982 I think) it advanced again much as gold has done these past few months, only to fall once again and remain suppressed for several years (it was decades in dollar terms). A similar thing happened to silver. Check the graphs to see what I mean. The question it presents, if history is anything to go by, is does the action we have seen in precious metals amount to being a rather long winded false breakout like last time? 

Or do we need to consider the worst combination of words ever arranged into a sentence for an investor and ask the question - is it different this time? :)

Link to comment
Share on other sites

Probably of no use what so ever but I'm expecting some pretty big pullbacks but I'm also expecting them to be very short lived........dont see a longish term consolidation just a very choppy up and down ride on some very choppy waters.............

Link to comment
Share on other sites

1 hour ago, Clens92 said:

What's giving you the feeling that a dip is coming?

 

Few things, GBPUSD feels like it'll flag here for a bit, sp500 is at a new ATH, it tanked on brexit but is already breaking ATHs yet gold spiked and hasn't retreated. They usually have negative correlated moves.

A gut feeling is just that i guess, i don't expect it to be long lived as @Ravinella said, but i do expect a test of 1000 at some point soon

The Gold Sovereign

The Gold Sovereign aims to provide the most complete online resource to collectors of the world's most popular gold coin - the Sovereign.

www.thegoldsovereign.com    |    contact@thegoldsovereign.com

Link to comment
Share on other sites

41 minutes ago, HighlandTiger said:

Nah, no pullback. Watch it rise tomorrow......They ain't finished yet, mark my words.

everyone needs to breathe? :D

The Gold Sovereign

The Gold Sovereign aims to provide the most complete online resource to collectors of the world's most popular gold coin - the Sovereign.

www.thegoldsovereign.com    |    contact@thegoldsovereign.com

Link to comment
Share on other sites

This guy doesn't and is very precise about the dates it will happen (tomorrow!) http://sgtreport.com/2016/07/web-bot-update-silver-to-soar-past-38-and-keep-on-going/

I don't know too much about him other than he has some fans and uses software far more complex than my little brain can understand.

Currently stacking 10oz Unas and Britannia bars 

 

Link to comment
Share on other sites

Also Theresa May is likely going to be in number 10 in a few days, no more dragging out and waiting until october, maybe this will give the markets some confidence? 

The Gold Sovereign

The Gold Sovereign aims to provide the most complete online resource to collectors of the world's most popular gold coin - the Sovereign.

www.thegoldsovereign.com    |    contact@thegoldsovereign.com

Link to comment
Share on other sites

10 minutes ago, sg86 said:

Also Theresa May is likely going to be in number 10 in a few days, no more dragging out and waiting until october, maybe this will give the markets some confidence? 

Cameron says hes going to resign on Wednesday this week, but does Theresa May build any confidence in government for you?

Link to comment
Share on other sites

Just now, RisinSun said:

Cameron says hes going to resign on Wednesday this week, but does Theresa May build any confidence in government for you?

Personally i voted leave, so wanted a leaver. However, I think the simple fact we are missing out on a leader campaign and have a new PM on Wednesday will have an overall positive impact yes. Just getting on with it, and quick, i think it'll give confidence because it removes a long period of uncertainty

The Gold Sovereign

The Gold Sovereign aims to provide the most complete online resource to collectors of the world's most popular gold coin - the Sovereign.

www.thegoldsovereign.com    |    contact@thegoldsovereign.com

Link to comment
Share on other sites

Atkinsons stopped taking online orders the night of the brexit vote until the day after or two.. only small phone orders were accepted so if there was a over night crash who's to say they wouldn't stop all sales for a week or two possibly longer I'm not agreeing with him or disagreeing im just open minded.. I don't think he meant they do this often more a possibility what could happen @HawkHybrid

Link to comment
Share on other sites

14 hours ago, onlyroadtoheaven said:

This guy doesn't and is very precise about the dates it will happen (tomorrow!) http://sgtreport.com/2016/07/web-bot-update-silver-to-soar-past-38-and-keep-on-going/

I don't know too much about him other than he has some fans and uses software far more complex than my little brain can understand.

There is a music video embedded in the comments section, that I just had to share.

There is something surreal about a Russian band with tractor drums and guitars, and the Russian Red Army choir in full uniform, belting out a ZZ Top number..... :) It seems the Russians may hate the Yanks, but love their music. 

 

Link to comment
Share on other sites

57 minutes ago, PureGold said:

Everyone is posting these resources from weeks or months ago, its not really the point of the thread :). I'm confident golds is up in the long term, i was talking about the short term and relating it to buying the dip.

Anyway, looks like its playing out as i'd hoped, 1000 test incoming

The Gold Sovereign

The Gold Sovereign aims to provide the most complete online resource to collectors of the world's most popular gold coin - the Sovereign.

www.thegoldsovereign.com    |    contact@thegoldsovereign.com

Link to comment
Share on other sites

10 hours ago, PureGold said:

Atkinsons stopped taking online orders the night of the brexit vote until the day after or two.. only small phone orders were accepted so if there was a over night crash who's to say they wouldn't stop all sales for a week or two possibly longer I'm not agreeing with him or disagreeing im just open minded.. I don't think he meant they do this often more a possibility what could happen @HawkHybrid

 

hgm had their site open for business throughout the results coming in?

atkinsons could have stopped over night orders due to uncertainty and

nobody awake to manage the business? they run a business, it does

not make sense to close shop because they are speculating gold would

rise. he was asked about local coin shop having plenty of coins, his answer

was that they could stop selling if they were speculating on a gold spot

rise. implying that the coin shop would stop selling gold coins, not the odd

coin shop holiday. at most coin shops would shuffle what they sell and/or

adjust premiums. eg hgm 2-5% on sovereigns, it used to be fixed at 4% I

think. a lot of what he says seams to make sense but carry no weight.

 

http://www.gold-eagle.com/article/gold-and-fed-rate-hikes

people like this have a better idea of what's happening.

 

there's still a possibility of a pullback to $1280-$1320.

 

HH

 

 

Link to comment
Share on other sites

Like I said I don't agree or disagree with him on that point and he never said every coin shop would do it that's why I used Atkinsons as an example and I assume he was speaking hypothetically.. I listen to numerous people not just him but like I said originally some good points were made.. And if they was taking phone orders and not online orders they was obviously awake lol  that's a silly thing to say@HawkHybrid

Link to comment
Share on other sites

5 hours ago, HighlandTiger said:

There is a music video embedded in the comments section, that I just had to share.

There is something surreal about a Russian band with tractor drums and guitars, and the Russian Red Army choir in full uniform, belting out a ZZ Top number..... :) It seems the Russians may hate the Yanks, but love their music. 

 

That is nuts. It will certainly be played on loop as some sort of anthem as silver fly's past $38 per oz. No silver pull back in my opinion.

Currently stacking 10oz Unas and Britannia bars 

 

Link to comment
Share on other sites

Archived

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

×
×
  • Create New...

Cookies & terms of service

We have placed cookies on your device to help make this website better. By continuing to use this site you consent to the use of cookies and to our Privacy Policy & Terms of Use