Gold chart looking bullish; Pd to lead new PM surge?

[Horn]

check that beauteous cup/handle forming in Pd since late Mar,
http://bigcharts.marketwatch.com/qui...e=&freq=&show=

One man's "beauteous cup/handle" is another's pile de la poo

[PatColo]

woot! https://silverprice.org/

I'ma gonna get off the dime & make good on that threat to get into the futures...umm... soon. Pd's lagging today, up only $3 atm; but beautious handle forming on that double bottom cup; breakout/rally will be powerful. >$2K/oz by next May. And that's conservative.

http://bigcharts.marketwatch.com/qui...e=&freq=&show=

[old steel]

"I could be wrong but I think that is now pointing in the direction of 'da moon'...."


https://twitter.com/DavidBCollum/sta...13925162840065

[PatColo]

pullbacks in Au Ag & Pt this morning; meanwhile Pd is sneakily tiptoeing towards a breakout from its lovely >5 month cup/handle... like a caterpillar moves, Pd forges the new trail higher, then takes a break & bases while the other 3 PMs catch up; now the other 3 may stop & catch their breath, as Pd pounces into new highs again, like a coiled spring...

6 months Pd, so you can see how it's pulling higher, while the other 3 PMs are red.
http://bigcharts.marketwatch.com/qui...1&show=&time=7


oh gee look, someone even woke up dog-with-fleas-Pt in the recent ~2 weeks! >15% rocket higher in < 1 month, welcome to the party Pt!
http://bigcharts.marketwatch.com/qui...1&show=&time=8

[PatColo]

My MS Paint job w Pd chart, https://imgur.com/a/qr2q9gL

I ignored the July 11/12th Pd intraday highs... to see that chart live go to https://goldprice.org/ - scroll down to big gold candlestick chart, & in the right pane there showing other commods/indexes, click Pd. I'm not aware of a unique URL to go straight there.

when Pd busts that upper red trendline she prolly won't look back; esp if the other PMs confirm w up moves at same time - new/multi-year highs not nec.

I'm in the process of waiting for "good funds" to settle so I can move $ to fund futures acct again

[woodman]

My MS Paint job w Pd chart, https://imgur.com/a/dDEAEY9

I ignored the July 11/12th Pd intraday highs... to see that chart live go to https://goldprice.org/ - scroll down to big gold candlestick chart, & in the right pane there showing other commods/indexes, click Pd. I'm not aware of a unique URL to go straight there.

when Pd busts that red trendline she prolly won't look back; esp if the other PMs confirm w up moves at same time - new/multi-year highs not nec.

I'm in the process of waiting for "good funds" to settle so I can move $ to fund futures acct again

Pat, you are a wealth of information. Back when platinum (Palladium actually) was cheap, I was lusting after some of those Russian Ballerinas. I never did get any, they were playing hard to get back then. I did blow a very small wad on some silver recently and that, no doubt, is the reason for the pullback.

[Hitch]

I did blow a very small wad on some silver recently and that, no doubt, is the reason for the pullback.

I am the guilty one, woodman. I made this post..

http://gold-silver.us/forum/showthre...486#post954486

Silver was a healthy $19 and change, and tanked the very next day. Keeps going down.

I shoulda kept my damn mouth shut. Damnit.

[old steel]

How many billions in paper gold/silver derivatives have the usual suspects dumped onto the Comex in the part couple of trading days?

[PatColo]

... to see that chart live go to https://goldprice.org/ - scroll down to big gold candlestick chart, & in the right pane there showing other commods/indexes, click Pd. I'm not aware of a unique URL to go straight there.

^ Follow same path above, & notice the next item in that right pane below Pd, is the Gold:Silver ratio chart - around 83:1 atm. Notice, mouseover the chart, & your mouse scroll wheel adjusts date range shown. Also, left-click-hold & drag for diff time frames ending earlier than current date. Slick!

Heres a snapshot I just took of the full ~22y 'max' they'll chart: https://www.tradingview.com/x/GODmWHbP/

Never got into the "Gold:Silver ratio" thing as being very meaningful or predictive of future price action. In fact in my 15y since delving into the PM world, & esp from those first 3-4 years when I used to actually read goldseek/silverseek.com type articles from their stable of perma-bull writers as I was ascending the PM learning curve; the (silver) bulls nonstop reciting of some worn out "historic 16:1 Au:Ag ratio means Ag will be going to $X-hundred/oz, sure as the sun always rises in the East!! " mantra, got downright annoying! Next article plz!! I gather these hucksters are going back in time to like, Before Christ?... appears downright irrelevant today!

That said, the Au:Ag chart above is... an interesting study! U can see in that 22y chart, a big sawtooth pattern, & how the ratio broke out to new high zone late 2018, peaking at 22y (& I assume all-time?) high at ~94 just 2-3 mos ago, when Ag finally came to life & raced past Au's price/ROC rally. I won't blahblah about every nuance in that chart or I'd be typing for an hour+; but I'll be keeping an eye on whether we're turning the corner here for another (multi year?) Au:Ag downleg; generally suggesting Ag zooms up in price with a rate-of-change far exceeding Au...? If I were a betting man that'd be my bet here! & Yes, in the futures/options-on-futures market U can "bet the spread" between 2 diff commods.

[PatColo]

but I'll be keeping an eye on whether we're turning the corner here for another (multi year?) Au:Ag downleg; generally suggesting Ag zooms up in price with a rate-of-change far exceeding Ag...? If I were a betting man that'd be my bet here! & Yes, in the futures/options-on-futures market U can "bet the spread" between 2 diff commods.

Here's a closeup of the recent 1y of Au:Ag chart: https://imgur.com/a/eyA6pZ9 - that stab down to ~79.2 was just last week, 9/4.

That stab pierced this trendline began in Apr '11, when Ag was zooming toward it's $49.xx/oz peak, https://imgur.com/a/JZJ60Pi

Same trendline on the 22y/max chart, https://imgur.com/a/GLrJSFs