PRECIOUS METALS – GOLD & SILVER ARE AT RECORD SHORTS!

Source: https://touchstoneconnect.com/2022/05/09/precious-metals-gold-silver-are-at-record-shorts/
Published: May 9, 2022
Author: Staff
Post Date: 2022-05-09 17:58:49 by Horse
Views: 841

Record shorts at $60 billion for gold and silver HERE. Who has the most to gain when precious metals (gold & silver) go down in price? You guessed it – the banks who print fiat currency with no backing at all. When the price of gold and silver go up, that exposes the weakness of paper money. Anybody feeling the pinch of increasing prices which are the result of inflation (the increase in the supply of currency and credit)? Remember, gold and silver are the only recognized forms of money defined in the U.S. Constitution!

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#1: Lod    To: Horse (#0)

Perfect time to trade for a bit more, thanks.

Lod posted on 2022-05-09 21:57:48   Reply   Private Reply

#2: DWornock    To: Horse (#0)

Five times since Sept 2020, silver fell to below $22, with lows of $21.42, and $21.43 before rallying at least $3. That indicates a lot of support at about $22. Now silver is again below $22. Therefore, if the support holds this 6th time, now would a good time buy silver.

Of course, just because it held five times doesn't guarantee it will hold the 6th time. Nevertheless, considering the above, buying a futures contract at the current price $21.80 with a stop 50 cents lower hoping for a profit of $3 for a 6 to 1 reward/risk ratio may be an excellent gamble. On a 1,000 ounce contract, gamble losing $500 for an expectation of a $3,000 profit.

DWornock posted on 2022-05-10 08:20:29   Reply   Private Reply

#3: BTP Holdings    To: DWornock (#2)

On a 1,000 ounce contract, gamble losing $500 for an expectation of a $3,000 profit.

As long as you do not do it using borrowed money like the Hunt brothers, who lost their shirts in a margin call. ;)

BTP Holdings posted on 2022-05-10 08:27:23   Reply   Private Reply

#4: DWornock    To: BTP Holdings (#3)

Deposit $3,000 with a stop 50 cents lower and you would not get a margin call. If silver fell to $21.30 (12 cents lower than the low the previous 5 times), you would lose $500. If silver rallied like the previous 5 times, you make $3,000 if you set that as your target, perhaps more if you don't, but then you risk a turnaround.

DWornock posted on 2022-05-10 09:44:30   Reply   Private Reply

#5: Lod    To: DWornock (#4)

All that I want, or know, to do is buy and hold the pretty coins, and $1850 Au is mighty tempting...

Lod posted on 2022-05-10 11:18:25   Reply   Private Reply

#6: FormerLurker    To: Horse (#0)

I'm glad I sold what I had when I did.

FormerLurker posted on 2022-05-10 17:31:13   Reply   Private Reply

#7: Lod    To: All (#5)

Wow, down to $1838.

Lod posted on 2022-05-10 17:59:50   Reply   Private Reply

#8: Horse    To: FormerLurker, Lod (#6)

Those massive gold and silver shorts drove down paper prices. But in the near future physical gold and silver will destroy the paper markets and the dollar. That will happen before the 2024 November elections. We will have Nationwide Food Riots before then. Maybe even the beginnings of a Civil War.

Horse posted on 2022-05-10 20:25:48   Reply   Private Reply

#9: TommyTheMadArtist    To: Horse (#8)

So what you are saying is right now with cheap dollars it would be a good time to buy Physical precious metals.

TommyTheMadArtist posted on 2022-05-10 20:34:35   Reply   Private Reply

#10: BTP Holdings    To: Lod (#5)

All that I want, or know, to do is buy and hold the pretty coins, and $1850 Au is mighty tempting...

If I win the Million dollar PCH prize, I will buy one for you. LOL

BTP Holdings posted on 2022-05-10 20:35:34   Reply   Private Reply

#11: Horse    To: TommyTheMadArtist (#9)

Get out of the stock market. Invest in farm lands. Buy things you think you will need that will go up in price. Buy silver. It will go up more than gold. Try to buy silver coins without paying sales taxes.

Horse posted on 2022-05-10 21:02:20   Reply   Private Reply

#12: DWornock    To: All (#2)

Five times since Sept 2020, silver fell to below $22, with lows of $21.42, and $21.43 before rallying at least $3. That indicates a lot of support at about $22. Now silver is again below $22. Therefore, if the support holds this 6th time, now would a good time buy silver.

Of course, just because it held five times doesn't guarantee it will hold the 6th time. Nevertheless, considering the above, buying a futures contract at the current price $21.80 with a stop 50 cents lower hoping for a profit of $3 for a 6 to 1 reward/risk ratio may be an excellent gamble. On a 1,000 ounce contract, gamble losing $500 for an expectation of a $3,000 profit.

Had you taken my suggestion, yesterday, you would have lost $500 because silver fell another 65 cents to $21.155 and you would have been stopped out. Since then, silver has gone up 35 cents and above my suggested stop. However, you couldn't have know that.

Whether or no $21.155 is the bottom and silver will rise $3 or more, I don't know. However, since silver made a new low, after this rally, it may continue going down so I don't recommend taking any position (long or short) in the futures market.

If you buy gold or silver, at this time, I recommend that you pay for it 100% and take position of the physical in gold bars or gold rounds or else buy and own from goldmoney.com or some other outside the banking system. Then basically hold it long term as insurance from what I believe will be currency collapse and the dollar becomes almost worthless.

DWornock posted on 2022-05-11 02:08:56   Reply   Private Reply

#13: Esso    To: DWornock, 4um (#12)

Had you taken my suggestion, yesterday, you would have lost $500 because silver fell another 65 cents to $21.155 and you would have been stopped out.

Options trading is risky, I've never been good at that. I went pretty much "all in" with Au and Ag around 2009 with about a third of my wealth. I got Au @$904 and Ag @$9.00.

Not a great return historically, but my mechanic understands the value of PMs, so I got $4,000 of repairs done on a 29 y/o truck w/60k miles for two Canadian maple leaves and a couple hundred fiats.

When Chip came to pick me up and take me to his shop downtown the next day, he was up $80. He knew the risks. How many folks are stupid enough to spend $4k on a 29 y/o truck?

He knew what the deal was. Smartest wrench I've ever met. I bet his wife loved those pretty coins.

Not sure how they're keeping PMs down now, it is what it is.

Esso posted on 2022-05-11 03:03:21   Reply   Private Reply