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Outlook

  • Mon, Aug 14, 2017 - 05:40pm

    #7

    Cold Rain

    Status Gold Member (Offline)

    Joined: Jul 26 2016

    Posts: 302

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    Outlook

Lambertad,

Yeah, my guessing isn't based on fundamentals, because I don't think they have mattered very much for quite a while.  Sentiment has been beaten down, and we've seen the same basic patterns repeated over and over.  That's what I tend to go with…until it changes.  It may very well be in the process of changing.  In fact, Dave's COT report comments illustrate that to some degree, particularly in the Silver market.  Also, GLD tonnage has been decreasing as well, albeit slightly.  Anyway, once sentiment turns around (which could be a revelation of a shortage, a CB not having as much metal as believed, something China does, a major level like $1300 being captured (and held), etc.), that's when I'd expect to see some of these recurring patterns not recur anymore.  Maybe we're on the cusp of such a change.  The metals have come back today, surprisingly, even as the market has continued to soar.  Who knows?