David Brady
@GlobalProTrader
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CFA holder, ex FX trader, money manager Contributor to Fund Advisor at Author of The FIPEST Report at
Toronto, Ontario
Joined July 2016
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We are still working through the back and forth in the short term, but the overall trend remains up. Longer term, I am still looking for $3000 in
#Gold
and $50 in
#Silver
, and that’s being conservative, imho.
@GlobalProTrader
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The Gold Pressure Cooker has started in China.
Reports of massive lineups to buy physical gold
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Big reversals ahead in
#Gold
and
#Silver
but not before a new higher high imho. "Buy the dips". Let the market come to you. Buy low, Sell high.
Don’t Miss the Biggest Rally in Gold and Silver since the 1970s
"The daily chart shows that a peak has been reached, but we could still see a negatively divergent higher high after this correction or possibly a blow-off top to $2600-$2750."
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Just so I'm clear: The Banks are racing to load up short in
#Gold
and
#Silver
when the metals are extreme overbought and bullish, ahead of a
#Fed
meeting on Wednesday and people expect them to keep going up. Got it, thanks!
Perhaps most important, the Funds have their biggest net long position since March 8, 2022. Does anyone remember what happened next?
#Gold
Here's a reminder...
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I wonder what happens to
#Gold
and
#Silver
when the
#DXY
heads south to 94-92.
This will likely coincide with the
#Fed
either cutting rates or reverting to
#QE
or both following a big correction in the stock market.
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Time to Buy Some Physical
#Gold
or
#Silver
Insurance
"There is a very real possibility that we will never see the current prices again."
What happens if the
#stockmarket
crashes? The Fed will be forced to cut rates and revert to QE again. Expect more printed dollars. You can’t print
#Gold
and
#Silver
. Meanwhile, what are the central banks doing? They’re buying Gold at record levels.
@GlobalProTrader
…
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Now that is typically a sign of desperation to get prices down and possibly to prevent a bank or two getting run over on their shorts.
CME raises Gold margins by 6.8% & Silver margins by 11.8%
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Finally nailed a micro call. Tagged 27.70 in
#Silver
almost to the penny and now we have to wait and see if we are heading up to 32 next, OR we backtest the blue line and head even lower.
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I expect 2200 in
#Gold
before the rug is pulled.
Just a friendly heads up here....
Today, March 1, looks and feels eerily similar to Friday, December 1.
You'll recall that, 90 days ago, The Banks were not yet positioned for a breakout so they rigged a massive reversal on Monday, December 4.
Be mindful of this next week.
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As I said on Feb 22, 23.50 was big resistance in
#Silver
. Now that Silver has broken above it, it is likely to be support at 23.40-23.50 on the downside, and perhaps even the launching pad to new highs.
#Silver
has run into resistance at $23.50, which also happens to be the 200-DMA, a powerful confluence of resistance. That said, if Silver can close above $23.50, the bottom is likely in at $22.
@globalprotrader
Read Here
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DATA vs TREND
When a strong trend in precious metals develops after a long period of suppression, data can be thrown out the window.
Signals remain extreme overbought, bullish, long, and yet the price continues to rise with few brief pullbacks.
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Payrolls to Trigger the Breakout in
#Gold
&
#Silver
"Of course, anything could happen with Payrolls data, but the metals, miners, 10Y, and DXY all signal a big move up in Gold and Silver... Get your shopping lists ready for the dip and what follows!"
Whatever result we get tomorrow, I still expect
#Payrolls
to be the catalyst for the aforementioned moves: metals and miners sharply down initially, followed by a breakout to the upside in the metals and miners that is likely to be spectacular.
@GlobalProTrader
…
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Perhaps most important, the Funds have their biggest net long position since March 8, 2022. Does anyone remember what happened next?
#Gold
Here's a reminder...
#GOLD
COT data: The dumb money Funds added 105k net long contracts over the past 2 weeks. This was the second highest/fastest jump in longs in history since Comex records began in 2006!
Meanwhile, the Banks loaded up short. 😉
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I just wanted to take a moment to thank all of you for your support. Today, we reached a milestone of 1000 paid subscribers. It took just 4 months exactly since the FIPEST Report was launched on Nov 4th. My sincere gratitude to you all.
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The CME just raised margins on futures contracts across the board.
Why now? Interesting times ahead!
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#GOLD
COT data: The dumb money Funds added 105k net long contracts over the past 2 weeks. This was the second highest/fastest jump in longs in history since Comex records began in 2006!
Meanwhile, the Banks loaded up short. 😉
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We're due a ST rebound in
#Silver
here based on the hourly charts, but the daily chart suggests that we can go even lower. "Buy the dips"
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Another sign of robust economic growth 😉
UPS out with earnings this morning.
Apparently no one is shipping anything in this booming economy. Revenue down 5.3% YoY. Earnings down 35%.
Ouch.
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"With all of that said, should a pullback occur here in the short-term, my minimum targets on the downside are $2,260-50 in
#Gold
, $26.50-40 in
#Silver
, and $31 in
#GDX
, based on Fibonacci retracement levels"
@GlobalProTrader
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Did the Bullion Banks just wake up?
#Gold
#Silver
Possible blow-off top in Silver in the ST. Sustained break of 25 would open up a possible move to 24 or below.
2200 minimum in Gold.
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The same can be said for US
#Bonds
. Yields up,
#Dollar
up,
#Gold
up,
#Silver
up, go figure!
It's evidence of a rapidly growing loss of confidence in the fiat debt system and the US in general imho.
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One of the main reasons why I'm expecting a big correction in stocks sooner than later.
#SPX
Insiders selling number are insane. Read and look at this...
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One Step Back, Two Steps Forward
The message is that
#Gold
and
#Silver
are going higher in either scenario. Again, it’s just a case of different routes but the same destination: Higher!
The correlation coefficient between the 10YY and Gold is currently at -0.6. This means that Gold moves inversely to the 10YY. While it is not a perfect correlation, the 10YY still has a significant influence on Gold, and by derivation, Silver too.
@GlobalProTrader
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How on Earth can I always be bearish when I just called for a move up in
#Silver
from 23.80 to 24.60? It's called being objective "in both directions"!
Trolls are not the sharpest tools in the shed, that's for sure.
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I might be a little early on this call in
#DXY
... there is still the risk of one more negatively divergent higher high out of a bull flag formation on the daily chart. If we go down below 104.80, it's gone imho!
Just different routes, same destination, down.
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$MUX a great example of how a fake breakdown is extremely bullish...
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I believe Gold is heading south, “worst-case” $2120, imho, then it heads up to ~$2300 next. Now that the Fed is out of the way, the extreme technicals, sentiment, and positioning can take effect.
@GlobalProTrader
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1. Why are they saying this "now"? It's imminent?
2. Prepared? 😂 They can't cover 1% of the deposits.
NEW:🇺🇸 US prepared for potential failure of major Wall Street bank, says FDIC
Oh boy...
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Here's a taste of what I seeing next in the miners...
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200-Day Moving Average
"Now, this does not mean
#Gold
is going down imminently. It could reach a 26% or 29% extension relative to the 200-DMA before turning down, but Gold is becoming more stretched by the day.
... the risk is growing that Gold will correct sooner rather than…
In the meantime, the trend remains your friend and the trend is up. Only a drop below $2286 in
#Gold
would turn the trend down and only in the short term. The medium-/long-term trend remains definitively UP!
@GlobalProTrader
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Yet another signal showing trouble ahead for the US Housing Market, courtesy of
@heloguy44
#HousingCrisis
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Must Watch:
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Don't buy the BS. Denial is powerful, but the truth about home prices is that they are falling year-over-year at the fastest rate on record.
#HousingCrisis
Home prices are poised to jump another 5% this year as the market is even tighter than it was in 2023, per Capital Economics.
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Don’t Miss the Biggest Rally in Gold and Silver since the 1970s
"The daily chart shows that a peak has been reached, but we could still see a negatively divergent higher high after this correction or possibly a blow-off top to $2600-$2750."
This rally is still in its infancy, imho.
#Gold
will continue to do well.
#Silver
is even better. Don’t regret missing out on the greatest opportunity in precious metals since at least the 1970s.
@GlobalProTrader
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This is priceless info. Print it out, stick on your wall, desk... Everyone got giddy yesterday, as expected, and they got what they deserved. Fortunately, another great buying opportunity is coming.
Buy low, sell high. Emotion is the death of wealth!
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Look under the hood to see what's really going on in the Economy. Example...
Credit Card Debt Surges To New All-Time High, Just As Card APR Rates Hit Fresh Record
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"The
#DXY
Dump Has Begun"
(or just one neg div pop then down)
Different routes, same destination: 94-92.
Based on the Elliott Wave count in the DXY, I believe it has begun a wave iii of (3) of 3 down. All I am waiting for is confirmation with a close below 105.60. My ultimate target on the downside remains 94-92.
@GlobalProTrader
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'Commercial Real Estate Foreclosures Soar To Levels Not Seen In Nearly A Decade'
This is another warning for the housing market and the banks.
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What HE said 👇
If gold completed the daily cycle top today then it will need to break the uptrend line and turn the 10 day moving average back down before we start looking for a bottom. This will get gold bugs bearish again and clear the way for a sustained breakout above $2200.
Gold bugs that…
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Don't worry, the economy is doing just fine!
Credit-Card Delinquency Rates Were Worst on Record in Fed Study
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Note the emphasis on
#Gold
. There is no mention of US Treasuries or any other sovereign bonds. 😉
World Bank Report Highlights Advantage of Central Bank Gold Revaluation Accounts
Recently the World Bank released a handbook for asset managers on why to invest in gold. At Gainesville Coins I have written numerous articles on gold revaluation accounts and how these can be…
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Another high-beta miner playing catch-up to the other guys... $IAG
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My core 4 high-beta miners:
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#EUR
turned up short of my target, which means the bottom is in or one more dip still to come.
#DXY
turning down. Waiting for confirmation that the top is in.
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