Gary Savage – Wed 4 Dec, 2013

So far a bit of a boring day in the markets.

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Al KorelinCory FleckGary Savage

  1. On December 4, 2013 at 9:10 am,
    MNH says:

    Gold back up a bit….
    Wish that my fav LCS that has sold me Gold Buffalos for spot + 75, would.
    Not a chance though…. “sold out” he tells me….
    Could be… but just as likely is that once again it’s all out of the show case and locked up in back.
    Not under ANY illusion I’ll be picking up Buffalos for 1k—ever.
    Was Jacked that I got one for $1320 not too long ago…

    This paper price biz is somewhere between boring and meaningless.
    What diff would it make really if Gold spot was $999 and a guy can’t get any locally or from an online dealer that still wants $1345 + shipping?

    One day….and more likely over a weekend, there’s going to be a re-set.
    Re-Set Monday is coming…and on that day, when it comes to Phyzz Gold–what ya got is what you got!
    And when it comes to Phyzz Silver— it’ll be like that old frat boy party where, ‘everyone was feeling Mary…but then it came time for Mary to go home. So all the guys jumped for Joy… but none had noticed that Joy was already gone….’

    • On December 4, 2013 at 9:32 am,
      Silverbug Dave says:

      Dunno MNH. Over here in the UK, gols is down from 1170 to 750 in GB pounds (36%) since 2011 and actually down from 1100 to 750 since September 2012 and bullion coins can still be had for normal premiums.

    • On December 4, 2013 at 11:56 am,
      eagleeye says:

      Buy all you want from the Canadian Mint at reasonable premiums.

  2. On December 4, 2013 at 9:23 am,
    Paul L says:

    Rick is a genius. It bounced of 1212 as he predicted and now it broke out of the 1229 area to 1236.

  3. On December 4, 2013 at 9:47 am,
    Paul L says:

    Gold has just made it through 3 resistance levels:1225, 1237 1242.

  4. On December 4, 2013 at 9:49 am,
    b says:

    I check back here and what do I see?
    Gold is boreing. lol, what it take for you guys to find it interesting?
    Lets see if we can pass that 1254.

  5. On December 4, 2013 at 9:54 am,
    57 corvette says:

    Yep it looks like the G man is going to get his cycle low.
    The Gary bashers are going to blow a casket if he gets another one right. They keep talking trash and the man just keeps hitting them out of the ball park. Makes the anti Gary crew look kind of foolish.

    • On December 5, 2013 at 4:27 am,
      Bruce says:

      Do you mean if Gary actually gets one right!? On the way up, Gary was right more than wrong … on the way down, Gary has been wrong more than right

      for just one example out of the MANY

      “On the plus side the rally out of a yearly cycle low tends to be the most powerful rally of the year. In this case if we were to get one more marginal new low to say around $1630 in the next couple of weeks that should be the end of the selling and I think gold will easily test the $1900 level during its next intermediate cycle.”

      naturally, since Gary was wrong, he pulled out of his pocket the old “manipulation” scape-goat thingy

  6. On December 4, 2013 at 10:06 am,
    b says:

    I honustly dont think we will ever be “out of the woods” until the physical is sold out.
    I look at the chart and wonder,maybe we can get to say,1320, then I realise the “bad guys” can take it down 200 at will.
    I think the physical needs to be just about gone for this all to end.

  7. On December 4, 2013 at 10:36 am,
    james (the lesserrr) says:

    Sounds like GS and Toby Connor are exchaning notes…

  8. On December 4, 2013 at 11:09 am,
    Gary says:

    Toby is the pen name my partner and I use to publish the gold scents blog.

  9. On December 4, 2013 at 11:23 am,
    Jack says:

    Key reversal…..
    Not a bad way to wake up this morning down here in Sydney. Nice call Gary it’s always tough being contrarian but it’s something else actually making them publicly and having the fortitude to back it up. Big kahunas Gary!

  10. On December 4, 2013 at 11:44 am,
    Kevin says:

    5.41am in Queensland and gold has finally put in its major trend line breaking reversal bar! I’ve seen Gary correctly predict these reversals too many times in the past, so I went in heavily on the scent of change. Glad I did.

  11. On December 4, 2013 at 12:51 pm,
    57 corvette says:

    After today G man becomes G money 🙂

    • On December 5, 2013 at 7:15 am,
      MS says:

      lol so what does that make him today? G oopsie?

  12. On December 4, 2013 at 2:08 pm,
    Bill says:

    Al, when you say folks might turn to “other things”, do you mean gold and land, or something else? Thanks much, and happy belated birthday.

    • On December 4, 2013 at 3:12 pm,
      Big Al says:

      Thanks Bill.

      Gold does get one out of the system if that is not where they want to be. I personally am starting to consider land.

  13. On December 4, 2013 at 5:35 pm,
    ms says:

    You know what they say about broken clocks

    • On December 4, 2013 at 10:01 pm,
      Big Al says:

      Yes I certainly do MS

  14. On December 4, 2013 at 7:48 pm,
    Phil says:

    Gary, the gold mining stocks are pretty beaten down. Sure they could go down further but given their extreme discount, do you think it’s a good time to go in a bit more significantly in the stocks, despite there being a possibility for gold to go a bit lower?

  15. On December 4, 2013 at 8:29 pm,
    gary says:

    No more than 10-20% until we get confirmation of an intermediate cycle bottom. It’s not time to swing for the fences yet.

  16. On December 5, 2013 at 7:16 am,
    MS says:

    you have all been warned time and time again, perhaps everyone is starting to see now what the ‘bashers’ mean

  17. On December 5, 2013 at 7:30 am,
    Mark says:

    Gary wrong again. How are those leaps?

    • On December 5, 2013 at 8:14 am,
      Ron says:

      Short the rallies, dollar rallies gold and miners plunge further, staying away from silver for now, holding dust from 26, added more yesterday at 47’s