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They are NOT going to taper, they are NOT going to do anything constructive to fix the fundamentals of a BROKEN market and/or financial infrastructure. Like we have said many, many times before – if you are NOT on margin and you dont need your physical gold and silver for month to month expenditures…YOU will be fine…more than fine even really well-off as compared to investors that hold paper assets. They are in harms way. Unfortunately, 99% of the people have no clue about the macro economics of the global marketplace.
Hold on. Wasn’t tapering suppose to cause gold to go to da moon? If tapering stops yields will go up attracing new investment from foreigners. What are they going to buy Eurobonds?
G man kudos. This is by far the best analysis I’ve seen on the metals. Keep it up dude!!!!!!
Ignore the BS about tapering. It’s not going to happen, and the the market has known for months and months it’s not going to happen. The dollar was going to rally no matter what the Fed minutes said. The minutes were just a trigger for what was going to happen anyway.
Wave 2 structure is complete at the $1225 area,I am told.
If the gold banks paper manipulate gold down further than that and provide a thrashing it is my fervent hope that the rest of the world takes all the gold and silver from SLV and GLD and take out that corrupt paper mechanism that has created all this control BS for a hundred years.
The world is ready for a physical gold market free of Fed manipulation.
This has nothing to do with the Fed. The Fed could care less about the price of gold. They are free to print as much money as they desire. This is purely profit motivated and almost certainly being orchestrated by two or three big banks.
Gary,the Fed is all about the US Federal Reserve note and the one competition is gold.
Those that stand for the Federal Reserve took care of silver a long time ago.
Agree with that Matthew.
I agree with Matt, too; just want you to know that he is not me.
Whoop. Your name got mixed up in error. Thanks for pointing that out.
Don’t bother with GLD/SLV, get physical gold/silver instead, gold to reach at least $10,000 and silver at least $400. When everybody starts buying the physical, the PM market will get crazy and you won’t be able to get anything easily.
100 % manipulation the game is one ! by strong ! BUY BUY BUY
Off Subject, but if you are interested in the Union report of Boeing’s offer to its machinists, which was rejected 2:1 as not generous enough, it is at:
Looks like Boeing will be moving to South Carolina….as they did in 2007….lower wages,,,and the facilities are already in place……….the union leaders are not to bright…..
the good ole boys….can use a drill and already are making BMWs………
and South Carolina is giving them tax breaks which will be absorbed by the people in the form of higher property taxes.
a lot of the people in SC..are retired military…..so, they can give back some of the govt. money they got,,,and then give it back to the state and the working stiffs, and then the cycle can start over again…..more planes,,,to our foreign partners, and then the fed…and govt. can force the foreigners to accept the dollar………
oh,,,and the president of the company can get his retirement money of $290,000 PER MONTH ,,,,,YES PER MONTH………….
Awesome, Gary. If we get to 1030ish, what option strategy do you like for long plays. What % do you like in leaps, what % in shorter time frames. Are slv and gdx your preferred plays?
I’ll go over all that in my premium reports when the time comes.
Off subject, but there have been rumors off asset crashes in Europe.
My bell-weather is the London housing market, and it is possible this Bloomberg chart of prices just released does show topping.
The bell tolls, CFS.
Gary, what are your thoughts on GDX here – do you see it holding the June low of $22.22 or will it follow gold to new lows. Carter Worth recently suggested there was little downside to GDX even if GLD drops.
I like that miners are trying to resist but I doubt they will hold the June lows if gold breaks. However if they can at least show relative strength that will be a clue that this is the area one needs to be in once the bottom arrives as the percentage gains will be the largest in the miners.
My ASX Listed gold miners getting absolutely clobbered again today.
So cycles no longer matter? Gold never broke the DC trend line which would mean we are on day 26, so adding another 10-15 days puts it at what? DAY 36-41?
Then that’s a 5 year low? No more 8 year cycle?
Listen to the interview again. The current daily cycle should bottom in the next 4-6 days. And then one more short daily cycle after that. For a more indepth explanation see the Tuesday premium report.
Gold is testing the previous 1251 support from below as resistance. Maybe it will happen today. I have heard an excellent analyst and trader saying potential targets for support are $1200 and just over $1000.
The $1200 target is near the previous $1179 low. I also had a target of $1190 from the head and shoulders pattern formed over the last 4-5 months.
My precious metals stock is down again to just above its June low, perhaps leading the metals are threatening to go down there.
I am wondering if Gary is right and basically implying there is going to be a speculative short selling frenzy or an inverse bubble in gold coming soon.
I am hoping that $1180 may still hold, possibly just above it at $1190 but I would not bet on it!
By the way, the analyst’s targets of $1200 and $1000 were in play if gold failed to stay above $1260-1265, which has failed.
We are below Garys $1251 support level now.
What is required to trigger the next downward move to the $1000 level?
obviously another couple of algorithm $200 million sells in seconds like over the past couple of days which caused the COMEX robots to short circuit two times in one day crashing the exchange for 20 seconds each time. isn’t naked shorting precious? BTW haven’t you noticed all of this chart porn support and resistance gets you no where. where markets aren’t based on real commodities,supply and demand, the
math is simple. it’s called “fiat”, by command. TPTB say down. it goes down.
Is this what we have come to? Gary freely admits the manipulation by the central bankers is real, we are going to see $1,100 gold, but then he believes all the shorts will be filled and the central bankers will go long? On whose authority? The current administration still has to get re-elected in 2014 and 2016.
I just find it disgusting that the common citizen, by Gary’s admission, is nothing more than a slave on the plantation waiting to see what the masters do in order to make a little money based on their movements. So we would all be better off ignoring gold and buying a DJIA index fund and S&P500 index fund back in 2008. Is this what we have come to? Fundamentals don’t matter, only what crumbs the rulers leave us matter?