Buying gold & silver?

I took some profits last Wednesday while keeping below the CGT threshold, put the money into my S & S ISA to max it out for the year and used the money to buy shares in a physically backed gold ETF to maintain my exposure to gold.

Gold crashed two days later :cry: Oh well, hindsight is a wonderful thing.

I'll stick to the plan, leave it there until we hit the new financial year in April, then sell the gold ETF shares and buy back into physical vaulted.
 
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Gold is often measured vs oil because of a long standing link or ratio. Here the high means silver gained more, the suggestion being energy in ratio is going to recover with high prices. Mining uses a lot of energy, an oil price boom can mean some mines are not profitable but we're a long way from that.
The top chart, the point is AI uses energy

4800 for Gold could decide or indicate if we're to lose the trend up or even start a trend down. I guess up but its unproven, it might be next week or further till resolved
 
From someones vid, this chart is just trying to demonstrate a trend change with metals outperforming. I do generally think of BTC as a commodity market so I think its a fair take:
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This year the average gains had a bias to metals, prior Bitcoin dramatically outperformed most things in a ratio as the ski slope gradient shows.
 
Anywhere above 50 is bullish and beyond the expectations of the majority is my guess. I saw a negative take today so will post for balance.

Recent upset in Mexico alters supply from mines there but thats short term news, my main take is the move is generational.


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Since the big crash, gold has recovered just over half the lost ground, and silver just under a third.

Good signs for my earlier prediction that it won't be a dip for long.
 
If they were doubling the supply or some great decline in demand I'd go with the default reflex selloff but people going to a pawn shop are just a sideshow. Funny thing is the supply continues into a slight decline annually.
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The whole "there isn't nearly enough silver to cover the paper trades" narrative which was the explanation I saw in multiple places for the rapid rise in the price of silver seems to have gone away big time.
 
tangey said:
The whole "there isn't nearly enough silver to cover the paper trades" narrative which was the explanation I saw in multiple places for the rapid rise in the price of silver seems to have gone away big time.
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That's not what I've been seeing. I think the crunch is supposed to happen in early March.
 
Silver isnt a safe haven for decades, its industrial. Great big war, restriction of shipping. Rising costs in oil and higher dollar, thats more then enough to knock back silver price. 40% sell is a proper adjustment, not sure we're getting that but I have to expect its possible, price tags on anything can vary
 
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