What’s going on with gold today
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Goldman, you’re very correct about my position on this. I may be a little off in my timing but I hold to my overall view. I would say Gary is pretty close to my view also as regards his cycle theory.
I hope you’re wrong Doc but I fear with you track record you will be right to some degree
According to the “V and W” war is coming in Ukraine within a week and Silver is about to lift off in a big way as of July 15th. We shall see. Missing Uranium doesn’t make me happy
Weird timing but that could be confirmed by the chart action on Natural Gas, Goldman. Take a look because it is nearing a floor and could bounce off 4.00 within days.
The subject I addressed was natural gas. The subject you addressed is me.
To Al: These kind of comments from HH are what lead to site problems. Are you going to deal with it or just let it go until the whole board is cursing and fuming again? Time to end it now. Please delete the two preceding off topic personal comments.
I am with you Doc and I also continue to hold to my views that a pullback is near. Gold however has other ideas today and so I have to respect the market.
Chirp chirp,,,get those shorts ready 🙂 (i know i am..at least for july)
I love bird sounds in the morning NYC. Have not given up on my premise yet. Just so long as gold does not pull a coffee on us. Remember that? Coffee started going up slowly and then just would not stop until it had more than doubled in value by the end of February. Could gold do that too? Absolutely when the time is right. I might feel sure of myself but i don’t want to get too cocky either.
HH,
Common man!…Lets stick to business, please….we just went over this yesterday!!
Yes we did. Civility was requested. I will abide by it. What say you Al (and Cory).
It’s difficult to get both the timing AND the level right…
Richard, so far you’ve been a bit off on the TIMING side… but you might be right on the LEVEL front within the next few days… So what…? That’s how markets are: wild animals.
And even if there’s no pullback toward 1280/19.9 on G/S respectively… and we never see these levels EVER again… So what ? Even the best in business are wrong sometimes. But being right most of the time, as you are, is fine by me, simple humble listener ! 🙂
I’ve waited for pops on gold to buy A BIT of protection… and I started today. I might add more tomorrow/Monday IF there’s another pop. That’s just to help me sleep better. But if there’s no correction… well… for sure I’ll sleep better !
I truly appreciate your insights and look forward to your comments on a daily basis. Thank you for what you do for us. I don’t pay anything to listen to your daily comments/insights/views/angles, and that is pretty much… priceless – pun intended!
Best to you,
LPG
I echo this..
Richard thank you for all you do. If you ever have a newsletter I will gladly subscribe.
That is absolutely true. If you expand his timeframe I think he will be spot on for a time anyway.
uhhh…..looks lik Doc will ge right and we correct (maybe scary) thru end july
NYC, one of the things that concerns me most is the position of the commercials—we could be seeing some short covering at this time. With gold rising this week, it’ll be interesting to see the COT report tomorrow.
GDX and GDXJ just reversed hard…my bet is commercials got shorter and Specs got longer…Doc, next week with Yellin maybe putting her “Volker mask on” for the Senate and House it could cause us to correct hard and be on the way to a significant low again
Uhhhhh … Not yet. Above technical 1334
From kitco at 4p m
G. 1335.90-1336.90 up .7%. $9.00
S. 21.39-21.49 up 1.37%. $0.29.
That’s a good up day
No pull back …. Yet.
All the signs are there that gold will go down tomorrow; (volume dropped and stocks actually went down in afternoon) I wonder by how much gold will drop.
Among the wide number of junior mining stocks that I hold and track, the technical condition of their price charts varies quite a bit.
Some are just now overbought on daily charts and need time to consolidate. Others got overbought a week or two ago and have already been consolidating.
As I wade through the message boards and read analyst opinions, many seem to be calling for another correction. This is not surprising to see, in that there is something of a ‘recency bias’ at work. The mining crowd has been so beat up in recent years that even the faithful have a hard time imagining the onset of another bull phase.
However, the longer it goes on, the odds (in my opinion) increase quite a bit that you finally work off a short term over-bought condition with a sideways consolidation (rather than another corrective leg).
Especially in light of the correction which took place March to June and gave back a significant portion of the gains achieved during the initial blast off, I am inclined to think that this next selling phase will be less severe.
In the meantime, as long as physical gold and silver can hang in there, at the higher end of the recent ranges, there is a fundamental benefit to the miners (both those in production and the exploration/development companies).
Those in production will begin to benefit from the better margins and the exploration/development crowd will find it easier to obtain funding.
In general, I am quite encouraged of late and content to hold the bulk of my positions in the sector. I sold a few things that reached (or were getting close to reaching) overbought conditions on weekly charts.
Good luck all.
Excellent points Eric.
thanks, Bird. have a good night
ok, HH, I have read every thread from today, not once does Bird address you or comment to you.
Looks like you have an agenda if you ask me.
Al, where are the civility police?
bb, BIG AL, and ALL
I HAVE TO AGREE WITH YOU….HH, you are WAY OUT OF LINE! It doesnt matter – you are being a real knucklehead…knock it off! You dont look to good to all right now….and quite frankly, and with all due respect – you are MAKING a fool of yourself…lets move on with analysis and contemplative, thoughtful market feedback…PLEASE!
Give me a couple of minutes bb!
No threat here. You are working full time to get me to give up on posting and creating a lot of unnecessary conflict in the process. But I am not leaving. Instead I intend to push the site to keep their word about blocking these kinds of personal posts from you because they are taking the site down.
Sarah just eliminated him from the site. Enough is enough!
Thank You Al.
Jody D
My pleasure, Jody
thank you Al…appreciate it you have a great site here and we all are thankful to you and cory
HEY there Jody D…GRRREAT to hear/”see” from you – again!
Hello Marc, SD!
I have avoided the site at times due to the childish remarks, insults, and “taking sides” that was taking place. It truly negates the valuable knowledge that each contributor has to offer. I am grateful that Al and Cory will be monitoring the out of line comments from any offensive members.
I hope you and your Family are doing well!
All the best, Jody D
A bit more work on our parts Jody, but maintaining quality is very important. I promise you that we will do that!
Thank you Al. Henceforth I shall also be on my best behavior.
You’ve given similar undertaking before Bird.
But you never have.
Short memory BM – When I once apologised to you you replied ‘no sweat man’.
Already NOT on your best behaviour it would seem lol.
Actualy Marc, I thought about it, would hh be that stupid? Maybe but I doubt it, this could be an imposter. On the other hand who knows who anyone is?
There could vey well be people on meds and not taken them.
No derogatory intended, just sayin its possible.
Those posts seem extreme even for hh.
Big Al & Cory will know from the IP address.
Yes we do!
The other day It was brought to my attention that I defended Bird, yup, cause I think he was right in that matter.
Let me remind people, I defended Gay “tooth and nail” when he first arrived, I saw Garys point as legitimate as any other and I loved that he was taking manipulation into account, just prior to Garys arrival many people disagreed with my point about the markets being crooked. Well, that’s changed now. A lot of it hanks to Gary and Gary is very much appreciated now by most if not all here.
I defended Bob M when so very many people were attacking him for “bad picks”, I explained, it wasn’t the picks, its the method that needed to be understood, sinse then, Bob gets nothing but accolades here, nothing to do with me I know, my point is that I defend a persons opinion, I don’t have to agree with it.
As far as Bird is concerned, I believe Bird is brilliant, Paul Craig Roberts Ron Paul brilliant, he sees thing others miss, as do others here.
I don’t always agree with Bird, people may have noticed I feel gold is money, Bird prefers chicken feathers, lol altho Bird has a very good point and we could quite possibly be moving in the direction he gives with digital currency, I feel gold is money everything else is currency. So, I disagree with Bird about that, big deal?
My point has always been, when we chase someone of, we diminish us all.
With this Isreal thing? Bird and anyone elses opinion in “siding” with Isreal obviously comes from having “featherbrains”.
Check a 1948 map of Isreal, then check a 2014 map, its obvious who has been and is the aggresser. The arabs and Moslems know this, its the west in denial, altho, euopean counties are beginning to realise, or take actions concerning Isreals war crimes etc.
I’ll just make one point, bb. Gary and Bob M never made any disagreements personal, so defending them is just a little bit different than defending someone who calls people moron, idiot, “extremist” etc.
You are right Matthew and we will be monitoring Bird to make sure he does not use that language again. If he does the comment will warrant removal. Please bring to our attention if we miss anything from here on out. We greatly respect your comments as well as all our other listeners.
You beat me to it Cory, thank you.
And presumably you will also be monitoring Matthews comments Cory. But since you did not ask him to refrain I will be sure to make an effort to point out abuse in the future. I am hardly the worst offender here. Our friend Matthew has delivered a litany of personally abusive remarks directed at me for the past year and a half. That needs to stop. Lets not play favorites here.
Thanks Cory and Al.
I’d go so far as to defend Matthew with my right to remain on this site. We all have a breaking point and the bird is a past-master at knowing how to get others to snap. HH commented sometime ago that Birdman has a fixation with Matthew which is as intolerable as it is irrational.
And while we’re at it, give me HH any day (has he in fact been ejected?) over the ever-destructive if not dangerous Birdman.
We will be watching all the comments very closely, Reverend. You have to admit that HH’s comments yesterday were nothing but destructive.
PS I didn’t see HH’s remarks on this post. Clearly there’s a limit. But when he comes down to earth he can be genuinely contrite and gracious, as well as entertaining. Sorry but to censure him when compared to Bird makes no sense whatsoever. Best, A
ditto…………..
AL………….GO BACK IN YOUR FILES AND START WITH BIRD’S FIRST COMMENTS AND POSTING …………….I THINK HIS BEHAVE SPEAKS FOR IT’S SELF….START in APRIL 2013, IF you really want to see and get a real picture of this situation……………
Where as he has contributed to the site, his remarks are over shadowed by his sharp tongue……but, Like many , including myself, when attacked and provoke, will take a stand. One with a fighting spirit, will in fact not flee, but, take a stand, Right or wrong., It is just in the DNA……………JMHO……………..J…….
BTW………I HAVE NO PROBLEM WITH BIRD ……..I think we have come to terms with each other.., and figured each other out……..respectfully,,,,,,,,,,,,,,,,,j
Now………let’s all try and get along……and make some money………
I certainly second that.
By the way, I sent Sarah an e-mail telling her to let HH back in.
Thank you Andrew and Jerry.
Bird, no one here has attacked as many people as you have. You have brought my “abusive remarks” on yourself. End of story.
Matthew,
You are a valuable participant on this site and I thank you for that.
Secondly, we will be monitoring each and every comment. Rudeness will simply not be tolerated. Personal slander will not be tolerated.
All I can say is that the folks here are way to smart for that.
Sure thing Matthew, A
We have made it pretty clear to simply stay away from personal slurs.
Forgiveness is a virtue and now is a great time to start practicing it for everyone’s peace of mind and for the benefit of the site. Enough said. I won’t revisit this again if both of you make an effort to be cordial.
My thoughts exactly
You’re welcome Matthew……….
That’s a point Mathew.
RIGHT again…Matthew!
Look at a map of Europe before and after WWI or WWII and apply the same logic.
You would NEVER deduce Germany as an aggressor!
cfs, I think we could use pretty much any time period anywhere, no?
Im just pointing out the difference between the 1948 and 2014 map of palistine, I believe it makes ovbious Isreal is the agresser, if you check the wars, which were begun by Isreal no? The map makes clear Isreal is the agresser.
Look at more detail and it gets truly sickening. It has been a genocide and Isreal has yet to respond to many war crimes and un concerns.
Upon further investigation you find out about the Zionists creation of Isreal, their “deal” with Britain and their involvement in getting the US involved in ww 1.
I am just saying the map is self explnitory.
The main point tho, is the Moslems and Arabs understand what I am saying, Isreal has the potential to unite the Shia and Sunni, the enemy of my enemy……..
Ron Paul is right, we NEED to get the heck out of there, we need to stop this killing, we killed how many in Iraq? Afganistan? How many other countries? 30 million sinse ww 2 was an estimate in 1 article I read.
AND we support these Isrealis?
Appreciate the comments bb.
Israel is the only democracy. It originally had indefensible borders.
Israel in my humble opinion would like to be left in peace, but it has to defend itself or die.
Despite winning wars it has given much of the land back it conquered in hope of peace, but it is attacked repeatedly by terrorist acts….bombing of buses, firing of rockets in. Constantly attacked through tunnels. It drains manpower and productivity to be ever vigilant. Checking planes, checking cars, checking buses.
checking people walking with shopping bags or backpacks.
Yes, Isreal is a democracy, and you make some good points.
I think tho the US and Britain have played roles in who runs the other countries.
I don’t know cfs, maybe the west should have asked the palistinians what they thought of having their land givin to create a jewish state before it was givin?
Maybe the west should have considered what Lawrence was saying at the time.
Whatever was done, its caused a lot of death from the beginning.
Yes it has caused a lot of death. Sad, sad, sad and very stupid!stupidest
Yep CFS I probably would not visit!
Not so unlike the States eh CFS? Surveillance everywhere, full body X-Ray scans at airports., etc. Where does paranoia become self-fulfilling?
Gee thanks bb. Don’t make me blush!
I am a big fan of gold (and especially silver) by the way. It is the reason I am here like the rest. A funny thing happened this week. I picked up a few old silver coins of Italian origin. They were cheap enough and priced not too far above spot. Anyway, I had no idea what they were since I had not seen them before. I checked for silver content online and then went to a numismatics site. Turns out one of them is worth north of 2500 hundred Euros!!! Could not stop laughing because the guy had intended to melt it down to make jewelry. It just fell in my lap and what can I say…it was a great day and a good find.
On another note, inflation is getting crazy over here all of a sudden.
We are seeing sharp price spikes in meat, alcohol, cigarettes, most vegetables, toilet paper, cooking oil and anything else you can imagine. I think we might be feeling the inflation effects first in these poorer countries since the manufacturers and supply chain are not well developed.
As a result, the price changes can be abrupt and no efforts are made to smooth over the peaks and valleys as we see in the West where producers try to maintain constant pricing as much as possible and markets are more competitive.
The other thing is that here they have not adopted ideas like smaller packaging sizes or ingredient substitution to the same extent as Western companies. Lastly, there are no big producers. It is Mom and Pop food production by comparison to the US and Canada so most have less leverage and market share with which to work.
The net effect is that price increases are direct and in your face. If what I am seeing here now is an indication of the future trends then a great deal of inflation lies in store for developed countries as well. Just a matter of time before the price changes filter through to the retail level.
Bird, so agree with you. I think in the last month we have seen the first whiff of inflation and look how gold has reacted? Had some hot dogs last week and if you will recall the buns are an 8 pack and the dogs are 10, why? no one knows but you always had 2 extra. well they just cut those 2 extra out and now there are 8 which is fine but the price is the same, so this is 1 or many examples here in the US we can site on inflation creep, I think we trade back here this month but watch out we may zoom real quick back though the ill fated 1521 past resistence level from April of 2013 pretty quick if the market continues to sniff out coming inflation. this is why gold traded up on good job #’S, the fed will be way behind the curve as usual and will be in no position to crash the economy by raising rates too quick. this is the start of the payback for all the QE and low rates we have had for 5 plus year, once inflation really is starting even in a small way and the fed is trapped gold will blast up, I think starting in early august. By the way all the global conflicts we are seeing are also inflationary and nobody is really seeing that yet either so we will see but this fall could get really gold bullish…thanks bird I for one appreciate all your posts!
I believe I am seeing Rickards being correct, I am noticing inflation and deflation.
Food has been inflating, a young lady Im renting to just paid $200 for an oil change and $200 for a brake fluid replacement, Toyota called it “service”, needed to maintain her warrenty. I couldn’t believe it. Hows that for some inflation? Guess its really just theft.
Anyway, Ive noticed used vehicles prices lowering, some prices not increasing but lower km sometimes.
Or, is that cash being king?
Anyway, I believe Im seeing both inflation and deflation, exactly as Rickards described.
Your pondering of a “box of cash” may very well be wise. Ive kept enough cash around to carry myself for months for a few years now.
Interesting you had a valuable coin “fall into your lap”, it does happen but it sure doesn’t happen often.
NYC, interesting point about conflicts being inflationary.
HH I have deleted your comments above. Please do not use this forum to attack anyone! If this continues you will be blocked. Al and myself can not spend the majority of our day making sure people are not being attacked when they bring a different view to the table.
Everyone is entitled to their own opinion as long as they are civil. Please respect us and this forum.
Cory
Civility is everything Cory. But HH probably only snapped for the same reasons as has Matthew from time to time. Please get the guy back and I’ll rein him in if necessary!! Let’s get back to a bit of laughter.
Okay Reverend, I have a lot of respect for you. I will tell Sarah to let him back in.
Bless you greatly Al, A
“The most dangerous man, to any government, is the man who is able to think things out for himself… Almost inevitably, he comes to the conclusion that the government he lives under is dishonest, insane, and intolerable.”
– H.L. Mencken
from 321 gold
bb,
WHAT A HELL OF A QUOTE…..SOOOOOOOOO TRUE!
I thought it was a good one, another one I always liked was good men are ashamed of their government. Something like that.
And to you and yours Jody. But sometimes we have to ‘take sides’. Best, A
We have to take sides to maintain credibility and sensibility.
Hi Al,
Reality is that Doc was calling the opposite of what’s happening. He has been calling for a significant pull back in the face of a steady climb. Rick and Gary have been accurate here and Doc (so far) has been calling for a pullback to 1280 gold and 19.90 silver so at the moment he is off target in what has been very accurate
Just given credit where credit is due
Doc is typically one of my favorites for his accuracy