Critical Alert: Gold and Silver slammed today for no apparent reason
If you read my daily silver blog yesterday then you saved yourself from the bloodbath today. Gold was down $20 and silver was down 32 cents.
Based on the patterns it looks like it is going to be a three day affair. So, and I hate to say this but this is the time for getting a bit of physical metal. By end of tomorrow we will have a possible test of medium term bullishness which right now is in jeopardy.
Be prepared, be safe and be realistic.
I confess I don't much care about daily fluctuations - I acquire bullion to hold, not speculate. For that, I have my favorite Canadian jr. miners (BGM:TSXV and SPA:TSXV among others). all of which are up and down like yoyos...but that is the exact feature that makes them so profitable :-)
That is a good strategy. Physical metal in your possession or easily accessible is the key to success. Also set realistic expectations that you will get 20-30% return on PMs. No moonshot. If it does, well and good. Once you are done with "the preparation" - see my detailed blog https://steemit.com/survival/@ajain/be-aware-and-prepare-part-5-the-preparation then playing paper - whether stocks or ETFs is just an entertainment! That's the way I look at things and maintain my peace.
Upvoted your reply and following you now.
Thanks - and welcome to my madhouse, where Silver is king and Genghis Khan my Mentor :-)
!
Keep stacking. Day of reckoning is coming soon.
http://www.zerohedge.com/news/2017-06-08/someone-just-dumped-4-billion-gold-futures-ahead-comey-testimony - crazy...
everyone who keeps saying its time to pick up physical refuses to accept the fact or understand that the paper price is the physical price, no difference.
when you buy physical metal it is, and always will be, based on the paper price.
When is this complete misunderstanding or denial going to end?