interesting .
i might be totally off but seems powell wants to bring down the US$ to like 80-85 and that is why they print like crazy.

the goods might go up but the US economy produce like almost nothing.
(i think like 50%+ plus of US citizens live pay check per pay check because simply put it, the big corp just moved out huge amount of jobs overseas )
70% of the economy is from consumption and if a strong economy is base on the mean of production, it makes total sense to bring down the US$ to bring back jobs...

i mean the % interest near 0 ( with inflation it is negative right ?) , that isnt a sign of a strong economy anyway ...

True , a huge shift of wealth will again be transfer to the top 10% but its been going on for the last 30 years anyway ....

So, metals are basically donezo off that announcement, right?

More the opposite imo, a lot of the metals' momentum has been the appeal of an inflation hedge.

Yeah, my immediate reaction was that inflation is good for metals, but they are trying to front the idea that everything is under control and its all part of the plan. So, if they can control inflation then that limits the upside of metals where a lot of the bake is a super inflation event because of all the printing.

The metals and commodity were undervalued for a very long time imo.
So they just get back to normal level .

And when u had that you can’t park your money in bonds .
Cant park your money in the stock market now ( it’s totally overvalued).
Real estate are very high as well .

So what else is left beside commodity ?
A lot more room in the commodity to appreciate without crash than any other place imo .

'A mass-circulation magazine asked me to explain to its readers what was going on. I had this Fellini scene:
We are all at a wonderful ball where the champagne sparkles in every glass and soft laughter falls upon the summer air. We know, by the rules, that at some moment the Black Horsemen will come shattering through the great terrace doors, wreaking vengeance and scattering the survivors. Those who leave early are saved, but the ball is so splendid no one wants to leave while there is still time, so that everyone keeps asking “What time is it? What time is it?” but none of the clocks have any hands.'

~Adam Smith, Supermoney

So....wtf is happening?

Relax n wait for November

I'm still bullish and actually bought GLD 180c for this week when it dipped below 180, I'm just confused af as to why the market has perceived Powell's impact on precious metals the way it has.

they trying to manipulate the market as always

Can't be as easy as Powell speaks and metals go straight up.

The content was hyper dovish, I am convinced metals will continue to rally over the coming weeks.

Of course it's as simple as that. Silver is a half assed bet on rates.

We might finally be out of all of those consolidation zones.

Bingo, and here is what I am speculating is one of the major roadblocks right now: A lot of the johnny come lately retail investors/traders got burned badly by precious metals a few weeks ago after everyone and their mother was talking up gold and silver and they are now likely scared of ever touching them again. You can get a glimpse into that kind of mindset by looking at Portnoy's tweets from the last week about crypto. These people have been spoiled af, have no patience, and they have no tolerance for red.

Yeah but to some silver and gold are a religion, not an investment. They are the ones who will get the bubble ball rolling. My main concern is that they have converted from metalism to cryptoism. Either way they likely end up holding the bag (again!).

Never met a single person for whom silver was a religion lmfao gtfo.

Me neither. Just see them post in this thread (musicrecorder, sliverman etc.)

Good start to the week for the spot price of gold, gapped right up and has already crossed the peak of the Powell speech (short-lived) spike. It's currently trying hard to break 1975. Silver price action has been comparable.

capital control and price controls get yourself some guns.

If the market doesn't crash from here and consolidates or goes back into "stonks only go up" mode, maybe it's wishful thinking but I feel like it's going to be a very bullish development for precious metals.

Above prediction is still live but...another immediate bearish reaction to Powell, not ideal. Not giving up on a bull break happening soon but I really thought there was a good chance it would happen today.

It's almost never straight forward. Well probably be higher weeks/months from now. Anything above 1800 gold and 26 silver is uber bullish.

And this

Yeah, I agree with you guys that I've been impatient. I bought some GLD and SLV contracts for a month out right before Powell expecting a spike and those premiums have gotten destroyed in under 24 hours so I have been pretty salty. Cut the position. I'm still expecting a bull run at some point but as others have said the timing is very hazy, could be quite awhile. I'm out of all options positions for now.

8/5/20



Decent chance the bloodbath continues into the close....

Getting richer off of silver!