jim4silver
Silver Member
- Apr 15, 2008
- 3,662
- 495
There is a lot of talk online about how the Brexit will cause PM's to finally have their day in the sun. I would beg to differ. I have much of my investment $$$ in silver and although I am not selling now, I think in the not so distant future we will see PM's drop again to the 2015 low or maybe a shade below that.
The reason is that Brexit is going to help the US $$$ more than anything. I believe the Euro is about to also see drops as more Euro nations decide to vote to leave. This could favor the dollar as it has just in the past couple of days. With the $$$ gaining strength it will not allow gold (which silver follows for the most part) to get too high. We could go up for the next week or two in PM's on the whole "uncertainty" bit, but I don't think we are clear to go to the moon yet- we haven't been able to hold above $18.
I am also seeing record size short to long ratios being held by the commercial shorts in gold and silver Comex positions. It is often said that the commercials are the smart money, and although they don't always get it right, they tend to most often be properly positioned when a big move occurs directionally-speaking. Right now the commercials are so heavily short to long I have a hard time believing they will be the chumps in this round.
I could be completely wrong on this and if I am that's great I have silver and will be happy. But at the same time I am not getting excited for the 100th time in the past 5 years thinking silver is going to the moon soon.
PS Don't hate me Charlie LOL!
Just my opinion.
Jim
The reason is that Brexit is going to help the US $$$ more than anything. I believe the Euro is about to also see drops as more Euro nations decide to vote to leave. This could favor the dollar as it has just in the past couple of days. With the $$$ gaining strength it will not allow gold (which silver follows for the most part) to get too high. We could go up for the next week or two in PM's on the whole "uncertainty" bit, but I don't think we are clear to go to the moon yet- we haven't been able to hold above $18.
I am also seeing record size short to long ratios being held by the commercial shorts in gold and silver Comex positions. It is often said that the commercials are the smart money, and although they don't always get it right, they tend to most often be properly positioned when a big move occurs directionally-speaking. Right now the commercials are so heavily short to long I have a hard time believing they will be the chumps in this round.
I could be completely wrong on this and if I am that's great I have silver and will be happy. But at the same time I am not getting excited for the 100th time in the past 5 years thinking silver is going to the moon soon.
PS Don't hate me Charlie LOL!
Just my opinion.
Jim
