November 21, 2019 
 Thursday 
 
 

Forum
Topic:
Gold Enters Major Bull Market

       

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 By bluejay

12/09/2010  5:13PM

Gold $1387.60
Silver $ 28.76

Below is a linked chart from stockcharts.com depicting the recent weakness of gold against silver, basically saying, silver had been the place to be for folks seeking maximum protection against the general meltdown of public confidence in their governments.

http://stockcharts.com/h-sc/ui?s=%24GOLD%3A%24SILVER
 By bluejay

12/09/2010  5:12PM

Gold $1387.60
Silver $ 28.76

Below is a linked chart from stockcharts.com depicting the recent weakness of gold against silver, basically saying, silver had been the place to be for folks seeking maximum protection against the general meltdown of public confidence in their governments.
 By bluejay

12/07/2010  3:16PM

From Jim Sinclair at http://www.jsmineset.com:


In the News
Posted: Dec 06 2010 By: Jim Sinclair Post Edited: December 6, 2010 at 10:43 pm

Filed under: In The News

My Dear Friends,

Gold is clearly on its way to $1,650 and beyond. I have told you for many years that there was no PRACTICAL solution to the problems created by OTC derivative manufacturers and distributors namely our beloved “banksters.”

By practical I meant a solution that itself would not cause more dislocations than the problem to which it was applied already has. Now you see political realities both in taxation and quantitative easing.

Friends, there is no practical way out of this problem – none. We are going to inflate and spend as the entire Western world financial/political managers again try to kick the can further down the road.

No further proof is required.

Regards,

Jim
 By bluejay

12/07/2010  1:40PM

Gold $1398.10 OFF $26.50
Silver $28.51 OGG $ 1.57

Government carpet bombing of gold and silver today has sent both metals lower. This is no less than a scare tactic. It wouldn't surprise close followers of these markets if the disinformation dial gets abruptly turned up to support these shenanigans.

Can you imagine, selling crate loads of paper contracts(??) trying to make people believe they are just as good as the real thing? What a joke! Just try and take delivery and the Comex boys do everything to dissaude you. Just ask Mike. He had an associate that went through the Comex meat grinder when he wanted his gold. The Comex boys, basically, told him to go stick-it. What a joke!

What we're probably witnessing today is a scared and freightened Fed and Treasury shooting the messenger that is telling us, these guys don't know what they're doing.
 By bluejay

12/05/2010  5:37PM

Gold $1410.90 OFF $3.60

Ben Bernanke has just finished speaking on 60 Minutes back East. For us on the West Coast the buffoon will be coming on TV in a few hours.

Ben has, probably, by himself destroyed more of our wealth with all of his free hand-outs to his Lords, the international bankers, than any other person in the World's history. If anyone believes anything that comes out of his forked tongued mouth, you are in dire need of some serious education.
 By bluejay

12/04/2010  2:09PM

The following are comments by James Turk who has been correct in his gold and silver predictions, many times. His comments were aired on kingworldnews.com with Eric King hosting last week.


“The market in silver is very tight, it hasn’t loosened up at all. The takedown we discussed in a previous interview that was an attempt to shake out strong hands in the silver market did not work. We actually had an increase in demand into that decline.

We may test support one more time, but there is enough of a base that has been built, it is strong enough to launch it. So you don’t need one more dip. The next upleg will begin with a break above $30 on silver and that should take place in short order.

The gold/silver ratio is once again below 50, that is a bullish indicator. When we take out the low of 48.70, silver should be trading above the previous high of roughly $29.30. Silver would then be leading which I really like to see.”

Gold also appears ready to launch, despite pulling back to even on the day. What are your thoughts on gold?

“Gold is taking a little longer to develop because it had several days of trading above $1,400, so some short-term resistance built up there. But I like what the gold chart is doing, it is creating enough of a base to power through that minor resistance level.

The bottom line is that I expect silver to take out its high, to be followed by gold hitting new highs a day or two later. It is important that gold confirms the new high in silver so that both metals are trading in synch with each other in new high territory.

By the way Eric, I like very much what the gold stocks are doing here today. We are seeing some real strength which suggests higher prices in not only the mining stocks, but also in the precious metals as well.

What we should see is the XAU which has already confirmed, followed by a confirmation of new highs on the HUI as well. You know my view has been that the new bull market in the mining stocks began when the XAU made a new high above 206 back in October.

Just to be clear, going forward we should expect extremely bullish activity in the mining shares.”

The comments at the end by Turk remind me of Jim Sinclair’s statement that people should hold on to their book (positions) right now. In secular bull markets, it is a huge mistake to lose your position. At the same time it is very difficult for individuals to hold on all the way to the mania. As Richard Russell often says, “Very few human beings are able to hold for the duration of a bull market.”
 By bluejay

12/03/2010  11:43PM

Gold $1414.50
Silver $29.38

Something is seriously wrong in the world with derivatives and debt and gold is yelling loudly to be prepared.

From http://www.jsmineset.com:

Jim Sinclair’s Commentary

You know what respect I have for Martin Armstrong as a broad market trend timer.

He is simply the best in modern times. Yes, he is a tad self-destructive but that does not detract from his genius. I have known MartinArmstrong since the late 60s and have yet to see him seriously wrong.

In Martin Armstrong’s last writing he said the following about gold. His history of accuracy demands that we all listen carefully to him, myself included.

“I have given a number for gold $5,000 that is very conservative. If we take U.S. gold reserves at 252 million ounces and we divide that amount into the national debt of 14 trillion that yields a staggering amount of $53,639 per ounce. Even taking the world official gold reserves divided into the US debt of 14 trillion we still get $15,873 per ounce.”

This makes my eight year price objective of $1,650 in January of 2011 look pitifully on the low side. Assuming Armstrong is right (as he has been for 40 years), the shorts of gold and gold shares are going to be destroyed.
 By bluejay

12/02/2010  11:15PM

Gold $1391.40
Silver $28.78

As Nobel Prize-winning economist Robert Mundell, 'the father of the Euro,' recently warned, 'We are living in the worst monetary instability in the last 3,000 years.' The prospect for precious metals has seldom been more promising."
 By bluejay

11/30/2010  6:52PM

Gold $1388.30
Silver $28.12

The following are comments on gold and silver from Dan Norcini at http://www.jsmineset.com :

Considering the fact that today is the end of the month and that during such times, many markets that have been in uptrends see some price weakness as traders book profits, gold, and silver for that matter, displayed impressive strength as buyers went to work. One can only suspect that December should start off very well for the fans of both metals based on what we saw today as overhead resistance levels were shattered and both markets appear to have broken out of recent consolidation patterns and look poised to move higher.

If that wasn’t enough, Gold priced in terms of the Japanese Yen made a 27 year high at today. When priced in terms of the British Pound and the Euro, it set new lifetime highs respectively. It also is within a few francs of setting a lifetime high in terms of the Swiss Franc.

Clearly unrest regarding the sovereign debt crises of some of the Euro nations is bringing strong demand from the continent into gold and silver for that matter as silver made a new record high when priced in terms of the Euro.
 By bluejay

11/29/2010  8:34PM

Gold $1362.70
Silver $27.10

The fact of the matter is that the knot-heads in Washington along with the biggest knot-head of them all, Ben Bernanke, plus their bankster buddies know not what they do and in the end (as is now for some folks), we will pay a very high price for their abundance of STUPIDITY and GREED.

Got your gold?

The following linked article by a "real" brilliant man, Mr. Martin Armstrong, clearly and sadly spells out a factual and shaking account of HOW IT IS.

http://www.martinarmstrong.org/files/Indirect%20v%20Direct%20Stimulus%2011-21-2010.pdf
 By bluejay

11/23/2010  10:25AM

Gold $1373.70 UP $7.30
Silver $27.35 DOWN $0.58

Gold advanced on the reported shooting between the two Koreas. Silver got a one-two punch taking it down to $27.08 in early London trading. Silver is still weak but is trading higher being helped by its big brother.

It was quite apparent this morning that massive naked selling was once again at work in the gold shares. As gold advanced, you could have all the shares that you wanted which kept prices unusually checked. Silver being checked was also a bit unusual with gold advancing.

What are we to surmise today with the contrary action in the gold shares and silver?

Although the metals are in a general resting stage following their recent advances, any strength will be met with aggressive selling by the miscreants until new highs come again. Until that time arrives, when the bull starts lifting his horns again, it will make sense to remain on the defensive.

The HUI, the gold producer unhedged Index of stocks, made a long term breakout above the 515 trouble level on the chart about four weeks ago. The last on the HUI is 547.27. The naked shorters can dump all the paper they want into gold share market to surpress prices but they may be in for a shock when higher earnings expectedly hit the news wires.

The SEC is a criminal organization for permitting the conterfeiting of mining shares. Big money interests in Wall Street have bought and paid for this Commission many times over. These guys will never go to jail as they own the regulators who are paid to look the other way.

Frustrations are growing internationally at the influential control the big banksters have over our lives with their puppets in government orchestrating for them. Check out what the French soccer star, Eric Cantona, is advocating for December the 7th.
 By bluejay

11/21/2010  9:39PM

Check this out. Tired of banks controlling your life? This is an opportunity to show your dissatisfaction.


http://maxkeiser.com/2010/11/17/max-keiser-crash-jp-morgan-buy-silver/
 By bluejay

11/21/2010  4:54PM

Asian Markets Sunday

Gold $1359.20 UP $5.10
Silver $27.81 UP $0.46

Gold is up $1000 an ounce since this topic was created.

During the period the State has taken away management's focus towards mining and cost the shareholders dearly in checks going to it along with the expenses of defending ourselves over and over again from these tyrants. To say we have been damaged would be an vast understatement.

The last time I checked mining was still considered a major enterprise in our country but in California mining is practically non-existant. We as Californians, along with the mining industry itself, have been beaten down with regulations, all in the real name of stuffing those fat cat pockets in Sacramento with unjustified high salaries and as mentioned earlier, with puffed up pension plans.

Well, State salaries and employment are due to be greatly reduced along with the outrageous entitlement programs. They did it to us and themselves all in the name of GREED. California may never be the same again because of the cupidity of these so-called bureaucrats or as stated by a friend of the mine, by these liberals and socialists.

When these legislators and all their staff along with the useless and unproductive bodies in these so-called regulatory agencies come home someday crying that the State can't afford them anymore, you won't catch me feeling sorry for them. They all deserve what is surely coming their way as a result of the State's $25 billion deficit, growing each day, that they are all responsible for in one form or the other.

The new money in the world today is gold and we still have it in the ground just waiting to be daylighted. Gold and silver are going a lot higher in price as a result of the Fed printing all this new money because their little brains can't figure out what else to do because their bankster buddies keep telling it to continue sticking it to the people. New money will equal more inflation(hidden tax), sooner or later, with the banks and government being the great benefactors.

Aside from efforts to halt or stall the march to higher prices in the metals, everything will be done to attack them. So when these days occur followed by weakness in the precious metals:

Buy Gold

Buy silver
 By bluejay

11/18/2010  1:14AM

Gold and silver pushing higher in Asian and London markets.

Gold $1357.30 UP %21.50
Silver $26.51 UP $ 0.86
 By bluejay

11/17/2010  11:39AM

Gold $1335.60
Silver $25.57

The following was released this morning from John Williams from shadowstats.com:

Gold and Silver Highs Adjusted for CPI-U/SGS Inflation. Despite November 9th's historic high gold price of $1,421.00 per troy ounce (London afternoon fix) and multi-decade high silver price of $28.55 per troy ounce (London fix), gold and silver prices have yet to approach their historic high levels, adjusted for inflation. The earlier all-time high of $850.00 (London afternoon fix, per Kitco.com) of January 21, 1980 would be $2,390 per troy ounce, based on October 2010 CPI-U-adjusted dollars, and would be $7,824 per troy ounce in terms of SGS-Alternate-CPI-adjusted dollars (all series not seasonally adjusted).

In like manner, the all-time high price for silver in January 1980 of $49.45 per troy ounce (London afternoon fix, per silverinstitute.org) has not been hit since, including in terms of inflation-adjusted dollars. Based on October 2010 CPI-U inflation, the 1980 silver price peak would be $139 per troy ounce and would be $455 per troy ounce in terms of SGS-Alternate-CPI-adjusted dollars (again, all series not seasonally adjusted).
 By bluejay

11/17/2010  10:13AM

Gold $1339.00
Silver $25.67

From Bob Chapman's International Forecaster(not the International Investor as erroneously posted last night) this morning:

Monday, just like on Friday,
the Comex again raised margin requirements on silver from $6,700 to $10,000 a contract and on gold from $5,700 to $6,000. That is to allow the shorts to drive both metals down, so the shorts can cover and restrict their losses. It does not get any more blatant than this. Cross-market manipulation.
 By bluejay

11/17/2010  12:40AM

Gold $1331
Silver $25.07

Bob Chapman of the International Investor says the big short in these markets is the government. Chapman adds that it doesn't bother them being heavily short with naked paper sales because if they eventually get boxed in with continuing new highs, it's just the public's money in the end.
 By bluejay

11/15/2010  7:43PM

In the prior contribution re silver dollars, was referring to the Morgan and Peace 90% silver coins.

The follwing is an informative listen, if you can spare the time it's worth it:

http://bobchapman.blogspot.com/2010/11/bob-chapman-on-sovereign-economist-10.html
 By bluejay

11/15/2010  4:57PM

Gold $1358.90
Silver $25.53

Both metals came under selling pressure today as the Dollar Index rose, closing at 78.68. It appears that Wall Street's trading houses(the banks) have been buying the dollar as there is far too much negativism in short term for its impending collapase. Too many shorts are in the boat for the moment and these trading concerns thought they would shake it a little for hopeful profits, it may have worked.

As the dollar strengthens it usually makes gold cheaper as was the case today as it's off about 10 bucks. The Dollar Index may be heading higher in the days ahead, at least, into the 80 to 82 zone on the chart. This type of action would most certainly encourage futher selling of gold, as well as in silver.

A few days back, or so, it was discussed that gold was brushing close up against monthly resistance in the $1440 to $1480 area. At the time the following should have been included concerning silver, silver's monthly top on its ascending channel line of the chart is in the area from $29 to $30.

Today, at around $25.50 its down about 13 1/2% from the recent high of $29.50. Silver, unlike gold, is quickly disappearing from above-the-ground inventories. In 1942 the Treasury had 3 billion ounces. Today, it has none. For the year 1940, above the ground supplies of silver in the hands of governments were 10 billion ounces. Currently, above the ground silver supplies amount to less than 1 billion ounces.

The current annual world demand for silver is 900 million ounces with only about 480 million of those ounces being supplied by the mines. So it only makes sense to say that, inventories will dwindle further as the years go forward.

Where is the silver going? It is being used up by industry. There are so many growing uses for the metal that it boggles the mind to wonder where the new source will be one day when earth's below-the-ground resources have been largely depleted. The U.S. Geological Survey estimates that there are just 8.5 to 18 billion ounces left to be mined.

Folks would be surprised what silver is being used for these days. Just research silver uses and be enlightened. When you're on the Internet search Robert Kiyosaki silver to get the true story concerning silver's price future. Robert Kiyosaki is a self-made multi-millionaire and who is most probably worth north of the billion dollar mark.

With Christmas closing in on all of us, the best gift, IMO, for a child remains a few silver dollars for his or her stockings.

Just bought some silver dollars at a good price today. If you would like the source in Tacoma, Rae should be able to furnish my e-mail address.
 By bluejay

11/14/2010  3:11PM

What is the expected potential for price weakness going forward in gold as the dark forces, apparently, are at it again?

Did they not learn their lesson in 2009 when they were severly beaten, like Napoleon was at Waterloo in 1815, when the $1000 ceiling on gold imploded? With the realistic chances being nil of gold bullion being sold by the IMF or any other country, their going to have to come up with a lot more than jaw-boning futures exchanges to raise margin requirements and continuing their usual media blitz.

To be honest, after following markets for years, especially, following the tracks of the inventive cabal, they always seem to come up with new tricks to flush the gold market. Something has changed this time, from a recent low-point at $1150 in August of this year, strong relentness buying took the metal up to close to $1400 six weeks ago. This type of buying, minus but one small reaction of, maybe, 30 dollars had not been seen since late in 1979 when gold was in the process of doubling during a short period of six weeks, to $850.

So if gold does remain weak next week and beyond during its bull market, we can look for some excellent support around the $1300 level. Below that, the general $1250 area is much stronger.

For folks looking to buy either gold stocks or gold bullion coins, 15% should have already been committed as of last Friday. Going forward, Another 50% should be used for scaling down to the $1300 level. Following that, if gold continues its retreat the remaining funds should be in place for final purchases lower into the general area of $1250.

Disclosure:

I personally trade 5% of our long term position, never the bullion coins. On the day gold hit $1420 certain gold shares were liquidated and beginning Friday, a small portion of the funds were recommitted to two issues. On Saturday a small portion of silver bullion coins were acquired. The balance of the proceeds are awaiting lower prices or possibly, higher prices if gold has a shallow continuing reaction.

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