Another Week and the Downtrend in Precious Metals Continues

avatar

Screenshot 2022-07-14 at 16-10-43 NYSE ARCA GOLD BUGS INDEX (^HUI) Charts Data & News - Yahoo Finance.png

The gold miners continue the downward slide with a CLOSE today of 205. When I posted last week the HUI had closed at 218.09. This particular move lower in the HUI Index is getting a little long in the tooth BUT there still is no formation of a bottoming pattern.

Screenshot 2022-07-14 at 16-15-30 Gold Futures Price - Investing.com.png

Gold closed today at $1707.95 per ounce, with a LOW today of $1695.05 per ounce. Just last week gold was trading at $1739.05.

Screenshot 2022-07-14 at 16-20-00 that is the question Meme Generator - Imgflip.png

Well, if this was a race to the bottom, then perhaps silver would be the WINNER!

Screenshot 2022-07-14 at 16-21-28 Silver Futures Price - Investing.com.png

Silver closed at $18.34, while last week silver closed at $19.17. The LOW today came in at $18.01 per ounce of silver.

And yet . . . . .

Screenshot 2022-07-14 at 16-24-10 Buy All American Silver Eagles JM Bullion™.png

JM Bullion is still asking a HUGE premium for an America Eagle.

Screenshot 2022-07-14 at 16-39-25 gorilla elephant centaur Meme Generator - Imgflip.png

I have no clue, what the heck is going on except that the downtrend in precious metals is ongoing and no bottom formation is on the charts.

So until next week . . . peace out and stack on!

silvergoldstackers leofinance memes silver markets
0
0
0.000
9 comments
avatar

You received an upvote of 100% from Precious the Silver Mermaid!

Thank you for contributing more great content to the #SilverGoldStackers tag.
You have created a Precious Gem!

0
0
0.000
Reply
avatar

I have never paid attention to gold or silver prices because I had no investment in either. The last time I had looked at gold it was $2400 but that might have been Canadian. I know the prices of scrap metal are way down in the last month but the price of wire and copper pipe is up so I don't know what the deal is. I guess I will just hang on and maybe buy a bit while it's low, if I find a bit of extra cash.

0
0
0.000
Reply
avatar

Very strange pricing across the board.

0
0
0.000
Reply
avatar

I see Gold is at $1710 now. Silver is down now so perhaps opportunity to buy some coins. But the premium is still ridiculously high !

0
0
0.000
Reply
avatar

I was hoping for some bargains but none so far!

0
0
0.000
Reply
avatar

The downtrend keeps continuing and it seems it will still last for a whole lot of days

0
0
0.000
Reply