Gary Savage – Tue 1 Oct, 2013

Gary remains adament about $1000 gold.

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Featuring:
Al KorelinCory FleckGary Savage

Comments:
  1. On October 1, 2013 at 8:19 am,
    Glen says:

    While I disagree with Gary’s theory on 1000 dollar gold I can see where this is a distinct possibility. I am asking myself the question, what do the manipulators have to gain by driving the price of gold so low(I am assuming the manipulators are Fed in flavor)? I can understand what the bullion banks and hedge funds get out of this plan(future profits). The Fed is not for profit. Thousand dollar gold will spark phyzz demand in the East which is not in our best interest. At any rate, a lower price for gold will bring us closer to the end game that much faster so if you have a long term view it is actually bullish for gold savers.

    • On October 1, 2013 at 8:37 am,
      Wayne says:

      When you have a printing press, money is no object. The object is POWER and the paper dollar is simply the tool of choice for taking dominion. Taking down the precious metals makes the dollar APPEAR strong. As long as we use the dollar as a standard of value, we will be slaves to the money powers. Good news is that the slaves will eventually wake up and, because slavery is worse than death, lay down their lives to be free. And there are a hell of a lot more of us than them.

      • On October 1, 2013 at 10:00 am,
        Big Al says:

        Taking down gold certainly makes the dollar look better!

    • On October 1, 2013 at 8:59 am,
      bb says:

      Yes its all fed manipulation, I forget the name of the “act” but it was put in place in 1934, a speach by Presedent Johnston tells people the fed will contunue to manipulate the price of silver in 1964 I believe, when silver ended its use in currency.
      So people wouldnt hoard it he promised there would be no profit in silver.
      Other than blips I guess he has kept his promise.

    • On October 1, 2013 at 9:58 am,
      Big Al says:

      I definitely agree with you about $1000 significantly raising demand in the Far East.

      I still maintain that the most important driver of demand here is the Far East.

      • On October 1, 2013 at 10:46 am,
        bb says:

        Demand should really go thru the roof big time. For phyzz anyway. Then we have the possibility of running out of phyzz again.
        If we run out of phyzz, it will be like a lightning bolt hits, overnite the only option for gold will be the shares.
        That is the reason I have kept shares. Even tho I take a beating. aarrrg.

        The time has GOT to happen when we run out, unless area 51 has figured out how to manufacture gold and they havnt told anyone.

        So, for the way I look at things, $1000 gold is a positive and the question becomes how big of a truck do I use?

        Bring it on you slimey Federal Reserve varmits.

    • On October 1, 2013 at 11:25 am,
      Gary says:

      I don’t think this is the Fed. The price of gold is meaningless to the dollar. The dollar is measured against other currencies. This is big players trying to lower the starting price of gold before the bubble phase begins.

      One can either stand in front of them and get run over or you can follow behind them and make a ton of money.

      • On October 1, 2013 at 11:48 am,
        Cory says:

        Gary I have to agree with you that big players other than the Fed are behind this and they are looking to rake in the huge profits shortly. I don’t know if they can get it the whole way down to $1,000 but I no longer think that it is not a possibility.

      • On October 1, 2013 at 12:05 pm,
        bb says:

        Garry, I do like your thinking and agree with it.
        But it not being the federal reserve? I disagree, if its not the federal reserve its the people that own the federal reserve.

        I will agree they are wealthy tho. lol

    • On October 1, 2013 at 2:14 pm,
      Matt says:

      I have to say B.S. to your ‘Fed is not for profit” comment. The Fed had a profit of > $30billion a few years ago…higher than Exxon. They are a private, for profit bank. They are no more federal than Federal Express.

      • On October 1, 2013 at 4:55 pm,
        Big Al says:

        I assumed that everyone knew that, but I guess not.

    • On October 1, 2013 at 2:16 pm,
      Matt says:

      I have to call B.S. on your ‘fed is not for profit’ comment. The Fed had a profit of > $30 billion a few years ago. More than Exxon. The Fed is a private, for profit bank. They are no more Federal than Federal Express.

  2. On October 1, 2013 at 8:31 am,
    cameronlego says:

    Once again you can read all about it. Big investment banks, such as Goldman Sachs are broadcasting gold will drift lower for the next two years. You know the reason they are doing this is not good will but to buy at lower prices.

    • On October 1, 2013 at 8:38 am,
      Matthew says:

      Or…they could be doing it to keep people nervous and out of gold right now. Most people won’t buy if they anticipate lower prices. One thing the retail investor does NOT do is scale into a position. They “price-plop.” All or nothing.

      • On October 1, 2013 at 9:27 am,
        SD Marc says:

        Matthew,
        Boy, isnt that the truth!

        • On October 1, 2013 at 9:29 am,
          SD Marc says:

          BTW,
          Buy more! The Chinese are absolutely LOVING this!

          • On October 1, 2013 at 9:32 am,
            Matthew says:

            I will be a buyer for as long as the weakness continues (mostly juniors, but silver too).

        • On October 1, 2013 at 10:32 am,
          SD Marc says:

          Matthew,
          I have NO DOUBT you put your money where your VERY wise investment knowledge is! You and your family (wife) are very, very lucky people to have you guiding them through very devious and deceptive times!!

          • On October 1, 2013 at 10:57 am,
            Matthew says:

            Marc, that is a very nice thing to say. I am certain that your family is every bit as lucky to have you doing the same!
            Yes, my money is where my mouth is.

            Here are three points I agree with from Stewart Thomson:

            Just as too many cooks in a kitchen can spoil the broth, excessive use of technical indicators and trend lines can prevent an investor from taking professional action in the gold market.

            For many weeks, I’ve suggested that gold investors need to focus on just four main price zones. On the sell-side, there is $1350 and $1425. Horrifically, many amateur investors actually bought gold in the $1425 area, believing that the price was “getting away”.

            On the buy-side, there are the price zones around $1266 and $1200. The wild action on Sunday night pushed gold into the $1350 area, which is a key selling zone for professional investors.
            http://www.321gold.com/editorials/thomson_s/thomson_s_100113.html

      • On February 2, 2014 at 1:44 am,
        Alexis says:

        So true. Honesty and everything reizgncoed.

    • On October 1, 2013 at 10:30 am,
      JERRY the Long..................O^OTB says:

      never believe GOLDMAN SNACH

      • On October 1, 2013 at 10:34 am,
        SD Marc says:

        Jerry,
        Where is Irish? I HAD an excuse..what is his1 HA!

        • On October 1, 2013 at 10:56 am,
          JERRY the Long..................O^OTB says:

          Marc…….I have him digging the new silver mine in Kenya. Barry, Michelle, and Irish, are digging their way from the Capital to his Birth place in Kenya. Barry’s brother is making preparation for the new Kingdom of Obarry.

  3. On October 1, 2013 at 8:31 am,
    bb says:

    Gary, do you think gold goes below $1000.?
    I am still thinking it wont go much lower if it does get to $1000. My opinion hasnt changed that the Chinese will use U.S. dollar reserves to protect the price around there as that is where they told the chinese people to start buying.

  4. On October 1, 2013 at 8:37 am,
    Glen says:

    As far as the stock market goes. Stock market fans believe the debt ceiling will be raised and they are not worried in the least. They are dancing in the streets and ridiculing anyone who foolishly invests in gold. They will get their come-uppance eventually. I look forward to the day.

  5. On October 1, 2013 at 9:05 am,
    John Chew says:

    Where were “They” when gold went from $35 in 1971 to $1,900 in 2011? If “THEY” are pushing the price lower then YOU are being subsidized to buy. How can it can any better than this. Pray for $700 gold.

    • On October 1, 2013 at 10:35 am,
      SD Marc says:

      John,
      Bullseye and BINGO!

    • On October 1, 2013 at 11:49 am,
      Cory says:

      Good comment John!

  6. On October 1, 2013 at 9:06 am,
    John Chew says:

    But I will take $1,001.

    • On October 1, 2013 at 9:38 am,
      Andrew de Berry (Rev) says:

      Glad to know you’re still with us John Chew. Everything comes to those who wait. Best, Andrew

      • On October 1, 2013 at 10:21 am,
        John Chew says:

        Thanks Rev:

        God called me home since gold did not trade over $1,400 by Oct.1st. Sealed my ggarage doors, gunned my Chevy and tried to drink two six-packs of beer (Corona) but my car broke down during my second beer.

        God let have another chance. Shorting gold to push it to $1,000 to make Gary’s wish come true.

        • On October 1, 2013 at 12:26 pm,
          Big Al says:

          Have to do one heck of a lot of shorting!

        • On October 2, 2013 at 1:45 am,
          Andrew de Berry (Rev) says:

          Great answer John!! A

          • On February 2, 2014 at 8:29 am,
            Christian says:

            I am not sure where you’re getting your inraomftion, but great topic. I needs to spend some time learning more or understanding more. Thanks for excellent info I was looking for this inraomftion for my mission.

  7. On October 1, 2013 at 9:21 am,
    Irwin says:

    Speaking of Savages ..

    “I’m one of the slave-drones in the country that would love to see a government shutdown. I for one would love to see 20% of the federal work force permanently fired; I would like to see pensions reined in by 30% across the board; I would like to see a shutdown last as long as it takes …”~Dr. Michael Savage

    http://youtu.be/ot5vJQRReiE?t=34s

  8. On October 1, 2013 at 9:21 am,
    Glen says:

    I am not longer a pm buyer(all in) at much higher prices. I buy high and sell low. Thats been my strategy since I started. However, I am staying in the market long term. Thousand dollar gold will be very disconcerting in the short term but bullish for someone who is in this for the next several years. PM for me now is just a very expensive form of insurance. I gave up my chances to actually make money by drinking the coolaid 2 years ago.

    • On October 1, 2013 at 11:51 am,
      Cory says:

      I agree Glen. If we do see $1,000 then the bounce back should be fairly quickly (maybe not straight up) but at least trending up for a while.

  9. On October 1, 2013 at 9:32 am,
    robert says:

    if it goes down to 1000, i will go insane…

    • On October 1, 2013 at 9:39 am,
      Andrew de Berry (Rev) says:

      And when it goes to $2000 Robert?

  10. On October 1, 2013 at 9:36 am,
    Glen says:

    I don’t know how others invest but when you buy a gold coin, it is not for trading purposes. You should hold onto this gold coin for the long term. I ask myself, self? What would you do if gold rose to 2000 dollars per oz? Would you sell? Nope. So, for now I am not worried. When the conditions become right gold and silver will continue its bull market momentum. Its just going to take a year or so for the to happen.

  11. On October 1, 2013 at 10:11 am,
    PF says:

    Gary, if $1000 is the target for gold, what is the target for silver?

    • On October 1, 2013 at 11:22 am,
      Gary says:

      No idea. Just buy it when gold reaches $1000.

    • On October 1, 2013 at 12:30 pm,
      Matthew says:

      If gold goes to $1000 and the gold-silver ratio re-tests its June/July peak in the 67 to 69 area, silver would be $14.50 – $15.00.

  12. On October 1, 2013 at 10:25 am,
    Sandy says:

    Al, you are always encouraging us to call our elected officials. Too bad, that mine happen to be Feinstein and Boxer…both of which I emailed numerous times as well as call their offices. Needless to say, my correspondence ends up in file 13. How fustrating…I’ve even emailed Obama…can’t bring myself to use his title because he clearly is not my president and I fight the urge to vomit every time his ego espouses “commander in chief.”

    • On October 1, 2013 at 12:27 pm,
      Big Al says:

      Kind of have the same responses, Sandy!

  13. On October 1, 2013 at 10:32 am,
    JERRY the Long..................O^OTB says:

    HOLD STEADY…………..SAVE YOUR GOLD……..

    • On October 1, 2013 at 10:38 am,
      SD Marc says:

      Jerry,
      Amen AND Hallelujah! 🙂

      • On October 1, 2013 at 10:59 am,
        JERRY the Long..................O^OTB says:

        Glad you are back……….it was getting lonely….

    • On October 1, 2013 at 12:27 pm,
      Big Al says:

      I agree, Jerry!

  14. On October 1, 2013 at 11:06 am,
    NYC says:

    Respect Gary’s opinion and his great contributions to the site… but I will be fading him again…we will see but i am thinking now we start next leg up…from right here into year end

    • On October 1, 2013 at 11:10 am,
      Matthew says:

      That is a bold call, but it would not surprise me at all if you are right.

  15. On October 1, 2013 at 11:34 am,
    ivan says:

    Gary’s comments make so much sense that I am willing to bet against them 🙂 I can agree with heavy hitting in PM but there goes the hitting also in oil, grains, softs, nat gas… that’s a long watch list for one to follow every morning

  16. On October 1, 2013 at 12:52 pm,
    RGT says:

    I wonder if the banks that have been hitting gold realize that they are aiding and abetting China and Russia to get to their goal sooner, of screwing the west by backing their currency with the very gold that they keep crashing. Sounds like TREASON to me!!!

    • On October 1, 2013 at 2:00 pm,
      Big Al says:

      You certainly could look at it that way RGT.

  17. On October 1, 2013 at 2:03 pm,
    Mike says:

    I can guarantee you not one person here will be buying if it gets to $1000, not even his highness Gary….because if it gets there there will be calls for $950 and then $900 and then $850 and then $700 for a double bottom with 2008….

    Guaranteed. But won’t matter because its not going there

    • On October 1, 2013 at 2:18 pm,
      Gary says:

      I can guarantee I will be buying hand over fist at $1030. At that point it doesn’t matter if gold briefly dips below $1000. The rally off that major support level will generate a 50-100% rally in miners over a 2-3 month period.

      One doesn’t have to hit it perfectly at that point. Just get in if gold gets to the 2007 high at $1030 and don’t worry about trying to time a perfect entry.

      • On October 1, 2013 at 3:13 pm,
        Mike says:

        Just like the last 10 calls that Miners are about to explode higher?

        • On October 1, 2013 at 4:57 pm,
          Big Al says:

          Mike,

          I have this funny feeling that Gary could be right on this one!

        • On October 1, 2013 at 6:12 pm,
          Gary says:

          I got the bottom on June 28th. Even called it right here on Al’s show that day.

          I noticed that something fishy happened on Aug. 27th when the miners formed a key reversal on huge volume.

          I got my subs out at almost the exact top on Sept. 3.

          I predicted a bottom on the FOMC meeting and even went so far as to suggest a big surge on that announcement.

          I noted Friday that something was wrong again as the miners were giving up all their gains.

          I predicted in Aug. that stocks would reverse and head back up to test or make new highs. This when everyone thought the bull was dead and were calling for more losses.

          I said stocks were due for a rally out of the half cycle low and even said I thought it would come once the government shut down was confirmed. As of today it certainly looks like I got that one correct also.

          How many calls do I have to get right before you are satisfied?

          • On October 1, 2013 at 6:13 pm,
            Gary says:

            That was for Mike BTW

          • On October 2, 2013 at 9:17 am,
            Big Al says:

            All of them!

      • On October 1, 2013 at 6:19 pm,
        Paul L says:

        Gold could go a lot lower if it gets to 1000 and fails to hold there. Too many people are counting on $1000 gold now and it probably won’t happen with everyone so bearish. I sold out yesterday.

        • On October 2, 2013 at 9:18 am,
          Big Al says:

          At the risk of being simplistic, you gotta do what you gotta do!

    • On October 1, 2013 at 6:31 pm,
      bb says:

      Think I will be buying.

  18. On October 1, 2013 at 2:19 pm,
    franky says:

    1000 $ GOLD NEVER !!!!!

  19. On October 1, 2013 at 3:40 pm,
    $1000 gold by December says:

    Can’t wait to see Grandich admit Nadler was correct.

    • On October 1, 2013 at 3:50 pm,
      JERRY the Long..................O^OTB says:

      is Nadler still looking for a job………….under the Obama plan, he will only be able to work 29 hours a week……………as a new hire…………..that is part time, and that is part time advice…………..

    • On October 1, 2013 at 5:01 pm,
      Big Al says:

      Time frame is everything.

      Sure now Jon is looking good but it took years.

      Don’t get me wrong, I like Jon. But 1200 to almost 1900 and then back to the high 1200’s. Does not appear to be a particularly good or accurate call to me.

    • On March 16, 2014 at 1:18 pm,
      Big Al says:

      Pretty old post that proved to be completely incorrect.

      Remember we post all opinions even the ones that I completely disagree with like this.

    • On September 4, 2017 at 10:07 pm,
      Big Al says:

      He never will admit that. But, Nadler was definitely proven to be correct. Jon is one smart dude!

  20. On October 1, 2013 at 3:53 pm,
    Michael says:

    Such commentary shows zero understanding of the physical market.

  21. On October 1, 2013 at 4:08 pm,
    Bentnail says:

    I must copy / paste my post from July 13th (very applicable in my opinion):

    Again, I must jump in and say that even though I am the most amateur trader on this board (by a mile), I do understand the world around us better than the average bear. That said, my gut is telling me that they (the powers that be) are going to dump gold and then make everyone trade it in for pennies on the dollar once they enforce their bogus bail-in (to help us pay off the debt) … After all, we are all in this together (blah blah blah) … Once they have done so … THEN they can Llow gold to hit 10,000 an ounce. That is my honest gut feeling on this one … Meanwhile they have their men waving the carrot in front of our noses … 1800 gold … 1700 gold (gonna run back up) … 1600 gold … 1500 gold (gonna run back up) … 1400 gold … 1300 gold (gonna run back up) … 1200 gold … 1100 gold (gonna run back up) … 1000 gold … 900 gold (gonna run back up) … 800 gold … 700 gold (this is a normal correction … Gonna run back up) … 600 gold … 500 gold (dirt cheap … Back the truck up … Gonna run back up) … 400 dollar gold … 300 dollar gold (too late … Junior miners are out of business or bought out for dirt cheap … American economy is out of business … Sell us your gold at these low prices or we are all doomed … Prison sentence if you refuse) … Wham!!! Hook, line, sinker!!! Got the cash (bail in) and the gold (all for virtually nothing) … Reminds me of how Eskimos coat a knife in blood and as the blood freezes, keep applying more blood (like a frozen Popsicle) … They place it in the snow and the wolf comes along to lick the blood … Before long, the wolf is slicing his own tongue on he blade but isn’t even aware of it … He tastes blood and that is all he cares about … In no time at all he has bled out and is dead. The bait was the 1900 dollar run with the promise of 10,000 bucks an ounce … And now they are just watching the masses bleed out as the price slowly drops bit by bit by bit … Very gradually … With the same men coming in with the same lines … This is a bottom … This may not be the bottom … Could see it drop another 100 for a low … It is all about confusion and gradual declines as the wolves continue to lick the bait … And before we know it they will all be dead in the water … At least their money will be.

    That is my gut feeling as I watch this gong show continue. Beware!!!

    • On October 1, 2013 at 5:09 pm,
      Big Al says:

      It is kind of a gong show isn’t it, Bentnail.

      By the way, nice to hear from you!

      • On October 1, 2013 at 8:53 pm,
        bentnail says:

        Thanks Al, we were in Europe for the month of September, hence my disappearance.

      • On October 2, 2013 at 1:41 am,
        Andrew de Berry (Rev) says:

        Ditto Bentnail. Take it from me I’m more amateurish than anyone! A

  22. On October 1, 2013 at 6:27 pm,
    richard says:

    I would say the key to decide if gold moves down to $1000.00 is to watch the PM stocks, especially stocks like NEM and GG—-both a few weeks ago bounced off very long term support lines. If these companies take out their support then the odds do shift to gold moving down to $1000.00.

  23. On October 1, 2013 at 6:57 pm,
    Jed Davis says:

    If Gold goes to $1000, it won’t be there for very long because physical buying will catapult it much higher. And the stock bargains will be incredible.

    • On October 1, 2013 at 7:13 pm,
      gary says:

      I agree. Plus every short will cover and every hedge fund in the world will be buying. I expect miners to rally 75-100% in the first 2-3 months out of that bottom.

  24. On October 1, 2013 at 7:39 pm,
    Matt says:

    Correction off the bottom on the weekly.
    Fed feeding China via Comex so they can load up and contend instead of nuking the Yanks and Brits for their hundred and fifty year theft run.

  25. On October 1, 2013 at 8:39 pm,
    Glen says:

    1000 dollar gold is possible but not probable. I am not holding my breath.