Thursday, April 5, 2012
Monday, April 2, 2012
Saturday, March 31, 2012
Monday, March 26, 2012
Saturday, March 24, 2012
Friday, March 23, 2012
Thursday, March 22, 2012
Tuesday, March 20, 2012
Monday, March 19, 2012
Another Healthy Correction For Gold And Silver March 18, 2012 [By Jason Hamlin]
I have received several emails this week asking my thoughts on the current price action in precious metals. Some subscribers are asking how low gold and silver might go in the short term and my honest response is “I have no idea.” Anyone that claims they can predict the short-term price movements in a market as manipulated as this one is blowing hot air. The banks can utilize leveraged paper contracts to take gold down to $1,200 and silver to $20 if they want to, in the short term.
However, they absolutely can not keep prices this low for very long, as free market forces will bring things back into equilibrium. In fact, recent take down attempts have been met rather quickly with buying from strong hands, much of it likely coming from China. While I still believe that the manipulators can create rather substantial take downs that scare weak hands out of their positions in the short term, they are becoming less effective and more impotent each day. This has been obvious in the charting, where buyers are stepping up to take advantage of these paper-driven artificial sell offs. I view this manipulation of paper prices as insignificant. Whether gold falls to $1,200 or only drops to $1,600 and bounces, I have no doubt it will continue to preserve wealth and continue to increase the purchasing power of those holding it over time.
I believe it is important not to give into emotions during corrections such as these. If you have been staring at your computer screen and stressing the price action this week, you are doing yourself a great disservice. I would suggest that your focus should be mustering the strength to stick with your convictions, ignore the noise and keep your eye on the longer-term picture. I see nothing wrong with hedging via put options or inverse ETFs, but I’ve found it easier and more effective to simply hold onto core positions and buy the dips.
I am convinced that gold and silver will eclipse their previous inflation-adjusted highs before this bull market is over. This means that gold will climb above $2,400 and silver above $150 at an absolute minimum. If we use more realistic inflation numbers such as those calculated by John Williams of Shadow Stats, the true inflation-adjusted highs are more than triple the prices listed above. Whether gold climbs to $8,890 and silver to $517 remains to be seen, but I believe we are likely to see the lower price targets listed above within the next 12 to 18 months.
Read more @ ORIGINAL SOURCE
Saturday, March 10, 2012
Thursday, March 8, 2012
Monday, March 5, 2012
Silver Update: Feb 05 2012 Has silver confirmed a reversal pattern to the downside?
Next support level is 33.70 and if that does not hold, look for 32.70 as the next support.
Silver Market Update [Clivemaund.com; originally published March 3rd, 2012]
Silver has had a good run from its lows at the end of last year and was on course to break out of the major downtrend in force from its highs of April last year, but it was not to be, for last week it reversed sharply to the downside, leaving behind a bearish engulfing pattern on its chart, as we can see on its 15-month chart below. While it has not yet broken down from the intermediate uptrend in force from late last year, action last week suggests that it is destined to shortly.
The fact that silver tried to break out of its major downtrend channel, but failed and then dropped hard on heavy volume is a clear sign of a trend change - an intermediate reversal. Thus it is now expected to break down from its shorter-term uptrend shown and drop away, despite the fact that it is not very overbought and its moving averages are in increasingly bullish alignment. How far could it drop? - it could drop right back across the trend channel which would clearly not be good news for silver bulls, and there is nothing to say that it could not drop further than that.
Read more @ ORIGINAL SOURCE
Friday, March 2, 2012
Wednesday, February 29, 2012
Tuesday, February 28, 2012
Silver Update: 28 FEB 2012 [8HRS Chart]
According to James Turk from Kingworldnews:
“In this regard, I have mentioned several times my expectation that once resistance at $35 is taken out, silver will climb to $68-$70 in 2 to 3 months. I still expect that outcome, but of course, only time will tell.
Tuesday, February 21, 2012
Friday, February 17, 2012
Silver Update: Feb 17 2012 [2hr chart]
Silver finally broke out of the trading range [34.40 on the top and 33.00 on the bottom] to the downside and touched the 32.65 before quickly reversing and rising higher. Was this failed move a shake out?
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