Now what?

Silver and gold have been absolutely rocking.  A near $2 move for silver in less than a week and a close to $50 move for gold in the same time period.

Silver up 2.97% over 24 hours.

Gold up 2% over 24 hours.

So now what?  Well looking at Silver on a weekly chart, the MACD has only just turned up and it's not even overbought.  So right now I'm just holding.  I know, many people are saying to sell right now, and that is apparent on a short term graph, but these things have a mind of its own.  Sure my portfolio is up over 100% just over a month ago with plenty of time to spare, but I'm not taking profits yet when it's evident the money printing by the ECB has just started.  You can see both Silver and Gold have overcome the 200 day resistance.  Maybe it's time for a break?  Or shall we sprint on and leave the non-believers behind?

Silver weekly

Gold weekly

Will gold and silver hit new highs before end of the year?  Gold possibly, but Silver that's hard to guess.

Anyway I sure am thankful for the precious metals being up after being smashed for so long.  But that's how bull markets work, climbing the wall of worry.

Here we go again

It's now September, and yesterday gold and silver had substantial moves.

Silver up 1.30 to 31.84, up 4.27%



Gold up 36.30 to 1691.60, up 2.19%

As for me I'm up 38K Australian dollars since last month.  My entire net worth is now 72% concentrated into just the metals alone, the highest percentage it has ever been.  If you take into account options, this percentage is even higher.  As gold and silver explode my net worth explodes even higher.  Some day gold and silver will be overvalued in terms of houses, stocks, and other physical assets, but not yet.  And when that day arrives, it will be time to sell.  But here's the thing, gold and silver are real assets, real money that no one can steal from you, and they will never ever go to zero.  Paper will and has always historically gone to zero.  I'm on the side of history, which side are you on?  Last night I spoke with an Italian, unfortunately from my impression or what I know, she is broke and her family has no money at all, they just have enough money for food.  Honestly I fear for her and her future, she doesn't even know what to do and right now things haven't blown up yet in Europe.  I've told her to buy silver and gold because that's the only thing that's going to protect anyone when the euro blows up, which it will, but it's not time yet.  The only issue is she has absolutely nothing, so that's going to be hard when it blows over.  It's going to be hard on a lot of people.