Cartel Gold Battlefield

April 7, 2013 By 6 Comments

Submitted by Morris Hubbartt:

Ultimately, markets are driven by fear and greed. In the current gold market, there is a lot of fear.  Also, most mainstream money managers believe a full economic recovery is underway, so there is no need to own gold.     My worst-case scenario model shows that gold could fall to $1350, but I don’t see that happening.
Only a small amount of gold is brought to market each year. Most assets can be substantially diluted in one way or another, but not gold.  Physical gold and silver are probably the highest quality assets that an investor can own.  Fear of lower prices should not deter anyone from holding gold.  Note the oversold condition of the slow Stokes indicator and RSI on this weekly chart. There is only one thing for long term investors to do, and that is to hold their positions.  Buy more, if additional weakness comes.

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Metals Dealers Shut Down Sales As Silver Globex Market Price Feeds Fluctuating By Over $1

March 29, 2013 By 88 Comments

algosAll h*ll appears to have broken loose in the electronic paper metals market overnight Thursday and into Friday, as numerous live metals feeds are fluctuating in price by more than $1 in silver, and several metals dealers are reportedly refusing to make any sales as they have no idea what the current price of silver is.

Per the CME the Globex is closed the 28th-31st, and per the HKMEx Hong Kong is also closed Friday the 29th, so we suspect a rogue algo was accidentally left on… [Read more...]

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Got Gold Report: COT Report for Gold Extremely Bullish!

March 21, 2013 By 1 Comment

bank panicGot Gold Report’s Gene Arensberg updates subscribers on a dramatic imbalance which has developed in the CFTC commitments of traders (COT) report structure.

The video covers the huge imbalance which has developed in the structure of the Commodity Futures Trading Commission (CFTC) commitments of traders reports (COT) for gold futures on the COMEX bourse in New York.  Although we conclude that the setup is “dangerously imbalanced,” we also have to view the conditions as of March 12 as “the most bullish in a contrary sense we have seen since December of 2008.” [Read more...]

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Gold & Silver Gap Up Through Significant Resistance on Globex Open

March 17, 2013 By 27 Comments

beach ballThroughout much of the current bull market, the cartel has attacked gold and silver mercilessly on events that should have major bullish implications for the metals, such as the Nov 2011 pegging of the CHF to the Euro. 
The Cypriot bail-in over the weekend appears to be an anomaly however, as along with the dollar, both gold and silver have gapped up through significant resistance levels on tonight’s globex open, with gold bursting through the cartel’s cap at $1600, and silver through resistance at $29.

*Update: Cartel has now smashed both gold and silver back under $1600 and $29 respectively, wiping out entire gains from Globex open.
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Stewart Thomson: Metals Rally Time!

March 13, 2013 By 10 Comments

stewart thomsonSubmitted by Stewart Thomson:

Big bull market moves occur with enormous negative sentiment, and it is the liquidity flows of short covering that produce the most violent jumps in price, to the upside. 

Those factors are in play now, but they would be “outrageously in play”, at $1400-$1450.   Have no fear of a drop to that price area.  I would not sell any holdings now, to avoid such a fall, even if I was 99% sure it would occur.
If the gold price fell to $1432, what would probably follow is a relentless rally, straight to the $2000 area. [Read more...]

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Gold & Silver Pop on COMEX Open

March 12, 2013 By 23 Comments

beach ballIn the best sign yet that the pattern has changed from the nearly month long hammering of gold and silver on the COMEX open, both metals have made vertical moves to the upside this morning, with silver popping though $29 to $29.47, and with gold jumping $15 to $1598. [Read more...]

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T. Ferguson: Worst May be Yet to Come, Good Chance Silver Will Be Taken Down to $25, Gold Towards $1500

March 4, 2013 By 60 Comments

worst-is-yet-to-comeOur friend Turd Ferguson of TFMetalsReport has released a gold and silver update warning that the worst may be yet to come for the current gold and silver cartel smash.
Ferguson states that the odds are at least 25% that gold and silver will still see a spike-low harvesting stops, with silver plummeting to $25, and gold towards $1500:

I’m beginning to sense that the ultimate goal of this entire event is to harvest the stops below $26. IF this happens…and currently I’d put the odds at about 25%…a quick drop to $25ish would be your final bottom.  Price would quickly recover back above $26 and this deliberate beatdown would be over…And gold could very easily suffer the same fate. If The Cartel can engender enough additional spec selling, a veritable cornucopia of sell stops lay waiting for them sub-1530. And you can just imagine the reaction in the media: “GOLD IN BEAR MARKET!!” will be screamed as loudly as possible in the hopes of inspiring even more selling.  

Is the worst yet to come in the gold an silver correction?

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Gold Completing Huge Triangle Base- Next Upward Run Will be MASSIVE!

February 16, 2013 By 25 Comments

m3Submitted by Morris Hubbartt:

Fundamentally, the US dollar is at great risk. Even if politicians make headway in spending cuts in the coming months, it won’t stop the debt from growing.   According to CNS news, about 11,000 people sign up for the Supplemental Assistance Nutrition Program (food stamps) every day. As the United States heads back into recession, maintaining a social net will be priority number one.

So, leaders can attempt to make progress, but the debt is now over $16.5 trillion.  Unfunded liabilities are more than seven times that amount.  A debased currency or much higher interest rates are the government’s ultimate choice.

The fundamental issues that are negative for the dollar are also very bullish for gold.  With the long-term trend of gold being up, this enormous symmetrical triangle is likely to breakout to the upside.
A symmetrical triangle is usually formed during a consolidation period. In the case of gold, the consolidation has gone on now for nearly a year and half. The larger the base, the greater the rise out of the bull market consolidation pattern. 

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US Dollar Vulnerable to a Loss of Confidence Event, Massive Shift From Paper to Physical Gold Underway

February 2, 2013 By 19 Comments

morris4Submitted by Morris Hubbartt:

US debt negations have been delayed again, by squabbling political parties.  We are told that in May everything will be fixed, but the debt continues to grow, and so does pressure on the US dollar.    
The US dollar is vulnerable to a “loss of confidence” event.  That could create a stunning decline, and a powerful move higher in the price of gold. A key level that I watch on the US dollar chart is the 80.50 area, which never seems to hold for very long.

This chart has numerous head & shoulders top patterns on it, and it closed out the month of January below 80.50, which is a very ominous sign for dollar holders, and great news for gold! 
As this debt crisis continues to unfold, I expect more investors to transfer money from paper gold products to physical gold.  

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Alf Field 2013 Gold Analysis: Gold Set Up for Spectacular 2013

January 3, 2013 By 16 Comments

1800Alf Field, the man who Jim Sinclair has labeled the best gold chartist alive, has released his latest gold analysis for 2013.

Field states that there is a high probability that the 3 month correction in gold that began at $1797 is now completed, and that gold is perfectly set up from a technical perspective for a quick move to $4,500 in the next up-leg once $1800 is taken out to the upside.

Field concludes his analysis by stating that gold is well set up for a spectacular move in 2013. [Read more...]

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Stewart Thomson: A Glass Of Golden Bubbly- Miners, Gold, & Silver Set to Explode in 2013

January 1, 2013 By 17 Comments

imagesSubmitted by Stewart Thomson:

On the last trading day of 2012, a watershed event occurred.  Key gold stocks staged superb breakouts, from their weekly chart power downtrend lines.
The gold exploration companies also look poised to rise significantly, and I expect large Japanese and Chinese companies to contact many of them soon, in an effort to secure reliable pipelines of the metals they need, to build their products.
For bullion investors, silver is clearly the metal poised to shine the brightest, in the short term.  To do so, gold must rally.  When you look at my next chart, I think you’ll agree that “Queen Gold” is indeed ready to perform.

I have given a label to the price area above $1800.  I call it the “Green Zone”.  The green zone is an area of tremendous support and potentially represents a place where an institutional buying frenzy could occur, pushing your gold items to much higher prices. [Read more...]

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James Turk Revises His $8,000 Gold Target: “I now expect Gold to go higher Than $8,000″

December 20, 2012 By 9 Comments

In the face of this week’s massive cartel intervention knocking down the metals in the wake of QE4, James Turk has just revised his $8,000 gold target- but NOT to the downside.
Turk states he now expects gold will surpass $8,000 an ounces in the next 3 years.

“Recalling that gold was $350 back in 2003, and the DOW Jones Industrial average was about 9500, I forecast that gold and the DOW would be 8,000 some time between 2013 and 2015. Given that that this time frame is now upon us, I would like to discuss the basis on which I made that forecast, and more importantly, update it in one significant way; I now expect that the price of gold will rise higher than $8,000 per ounce as I will explain.“

Turk’s full update below:

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