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Gold and silver finally breakout over long fought resistance levels of $1300 and $17.50

Discussion in 'Gold Silver (All things Metal)' started by Goldhedge, Aug 28, 2017.



  1. Goldhedge

    Goldhedge Moderator Site Mgr Site Supporter

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    Gold and silver finally breakout over long fought resistance levels of $1300 and $17.50

    8:46 AM$1300, gold, gold price, resistance, silver, silver priceNo Comments
    In a matter of minutes during morning trading in the U.S. markets, gold suddenly shot up and broke through the long fought resistance level of $1300. And should gold hold above this price level into the close and perhaps through the next few days, the technicals are very strong for a quick push back towards the highs of last year.

    [​IMG]

    Meanwhile, silver also broke through its own severe level of resistance of $17.50
    [​IMG]







    http://www.thedailyeconomist.com/2017/08/gold-and-silver-finally-breakout-over.html
     
  2. spinalcracker

    spinalcracker On a mail train. Silver Miner Site Supporter

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    Makes me wonder if BitCoin has anything to do with the precious metal spike.......

    $4,348.47
     
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  3. SilverCity

    SilverCity Gold Member Gold Chaser

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    It's Shemitah/100% Solar Eclipse/Katrina Reprise all over again.

    Sorry, Mr. Dial sir

    Still have those graded silver rounds for sale?

    SC
     
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  4. Mr Paradise

    Mr Paradise Midas Member Midas Member

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    Perfect timing for the Sept 5th release of the Perth Mints 2018 Year of the Dog lunar gold and silver coins .....wait all year for this release and gold jumps $100 bucks in 50 days.
     
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  5. southfork

    southfork Mother Lode Found Mother Lode

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    I'll get excited when silver is back over 40 or 45, and gold over 2k
     
  6. SilverCity

    SilverCity Gold Member Gold Chaser

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    Wow, Mr. Fork...we're kinda asking for the world now aren't we?

    (I agree wit ya)

    SC
     
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  7. bb28

    bb28 Silver Member Silver Miner

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    Off to the moon we go!!!

    bb
     
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  8. andial

    andial Sir Midas Member Site Supporter ++

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    Still grading them, ends up i have a pretty good eye for this alot of the coins are coming in ms 69 and over. Will have them available to the buying public in a week.
     
  9. Hystckndle

    Hystckndle Daguerreotype Fanatic Site Mgr Site Supporter ++

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    Holy cow.
    Thats crazy it is.
    Darn it man.
    4348
     
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  10. southfork

    southfork Mother Lode Found Mother Lode

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    1320 gold now, silver up a few cents too, would be nice to wake up to 18.00 silver, perhaps the world is waking up to fake fiat
     
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  11. spinalcracker

    spinalcracker On a mail train. Silver Miner Site Supporter

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    I got into BC when it was under $400 bux..
    I regret that I didn't by more than 3/4 of one...
    It was a pure gamble on my part and I was ok with losing that money.
    My account/wallet is at Coinbase.
    Now I just gotta figure how to turn it into cash and then into gold...
    Gold is what it's all about.
     
  12. nickndfl

    nickndfl Midas Member Midas Member Site Supporter ++

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    I heard Bitcoin was going to split in 90 days. I would still rather have gold. Does the world seem more normal with gold creeping up?
     
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  13. southfork

    southfork Mother Lode Found Mother Lode

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    Gold and silver should be going ballistic, 100 up on gold and 5/10 up on silver, debt is balloning, both .gov and private
     
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  14. Usc96

    Usc96 Gold Member Gold Chaser

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    Th spike seems to be reactionary to the recent North Korean missile launch.
     
  15. platinumdude

    platinumdude Gold Chaser Platinum Bling

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    Yeah, maybe gold will split too.
     
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  16. Pyramid

    Pyramid Gold Member Gold Chaser Site Supporter

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    Biggest news of the day is the USD recently broke through a double-bottom support level at ~93.5, closing at ~92.25 today. The USD has undergone a nearly a year-long downward trajectory that PM's have largely not reciprocated with, maybe it's different now that support has been breached...time will tell. I'm with ya, I want 25+ silver-er and 1500+ gold as well. Good luck out there folks.



    [​IMG]



    [​IMG]
     
  17. gringott

    gringott Killed then Resurrected Midas Member Site Supporter

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    You can't get there from here.
    Wake me up before you go go...
     
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  18. andial

    andial Sir Midas Member Site Supporter ++

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    gringott use that line in the "thread killer" thread! It's a winner!
     
  19. Scorpio

    Scorpio Скорпион Founding Member Board Elder Site Mgr Site Supporter ++

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    Exactly right Pyramid,

    metals haven't been responding too well to the prolonged decline in the dollar, and maybe now some catching up is in order as the dollar breaks support levels of its trading range
     
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  20. goldielox1

    goldielox1 Silver Miner Seeker

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    Wrong. Dollar down 9% ytd and Au up 12% ytd. It has responded just fine, thank you.
     
  21. gringott

    gringott Killed then Resurrected Midas Member Site Supporter

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    Doing good in overnight markets - $1321.60 as I type.
     
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  22. ErrosionOfAccord

    ErrosionOfAccord #1 Global Warmer Gold Chaser Site Supporter ++

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    Sounds like a lot of underinsured properties in TX. I smell inflation.
     
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  23. Scorpio

    Scorpio Скорпион Founding Member Board Elder Site Mgr Site Supporter ++

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    I hear ya goldie, but it has been my experience that it is not % for %, as the size of the dollar decline is quite large. I may be wrong but metals typically respond in double and triple percent terms. Nor is the relationship consistent.

    End April 2013
    Gold 1472
    Dollar 81.80

    End Dec 2014
    Gold 1184
    Dollar 90.64

    current value of dollar 91.72 which would equate to mid 1100's gold using dec 14 numbers
     
    Last edited: Aug 29, 2017
  24. Irons

    Irons Deep Sixed Site Supporter Mother Lode

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    So much for my cheap Sovereigns. Dammit.

    ,
     
  25. anywoundedduck

    anywoundedduck Gold Member Gold Chaser

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    I would bet that this storm will take a lot of insurance companies down. The same insurance companies that wrote Obama Care. Ready to bury AIG?
    I HEARD THAT LOSS IS IN THE TRILLIONS!!
    What happened the last time AIG barfed up a hairball?

    We, the American Taxpayer, were on the hook for Trillions.

    So this is the event that triggers the end.
     
    Last edited: Aug 29, 2017
  26. spinalcracker

    spinalcracker On a mail train. Silver Miner Site Supporter

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    Chit.
    Where is that $1100.00 Au?
    Where is that $9 Ag?

    Wait!..Wait!....
    image.jpg
     
  27. the_shootist

    the_shootist The war is here on our doorstep! Midas Member Site Supporter ++

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    How many sovereigns are enough Irondude? :belly laugh:
     
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  28. Irons

    Irons Deep Sixed Site Supporter Mother Lode

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    All of them. . . aaeyes.jpg


    scroogemcduck.jpg

    .
     
  29. southfork

    southfork Mother Lode Found Mother Lode

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    ))1320 gold now, silver up a few cents too, would be nice to wake up to 18.00 silver, perhaps the world is waking up to fake fiat
    Click to expand...
    Wake me up before you go go...

    gringott, Yesterday at 8:58 PM Report))

    When the move starts physical supplies will be wiped out in days, not unlike the game of musical chairs, demand will push prices feverishly
     
  30. southfork

    southfork Mother Lode Found Mother Lode

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    Looks like TPTB dont want metals running
     
  31. SilverCity

    SilverCity Gold Member Gold Chaser

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    Maybe too many traders are busy watching the "Great South Texas Debacle". Or it's Tuesday.

    SC
     
  32. Bottom Feeder

    Bottom Feeder Hypophthalmichthys molitrix Gold Chaser Site Supporter

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    AAAAAAAAAAAAnnnnnnnnnnnnnnd — it's back down again. Except for platy. Its always suckin hind tit.

    BF
     

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