Now it all depends on the type of upward move in gold
Click download link to listen on this device: Download Show
HALLO KITCO ! WHY DO YOU NEED GOLD ! Gary the dollar wil go more UP ! https://www.youtube.com/watch?v=BXAv6vng3Qc#t=50
Money ! CATO Institute ! KITCO ? IS ? https://www.youtube.com/watch?v=tDd0dDgP1OI
Hmm. That starts out kind of interesting, but gets spacey fast.
Gary,
Im no expert but it sure looks like we got that swing low in gold and miners today. So if this holds true, i believe this is a daily cycle low that starting on wednesday’s low? So we are now on day 3. But I believe this is not the bigger Intermediate cycle low. Is this correct? I meant yesterday swing low?
Gold made a lower low today so no swing can form until Monday. That being said I think the bottom was put in early this morning.
Gary is it not possible we can have the daily cycle low but not the ICL? Please clarify that.
It is possible but it would require the powers that be to artificially stretch the cycle.
Thanks Gary,
I got a hunch that this is a daily cycle low that will leave fill some gaps left above also allowing gold to retest resistance at 1183/1200..18 days im saying. With today being day 3 we can have a turn date back down end of month for a terrible December and then the rally next year.
Anyhow great stuff gary always appreciate your expertise:
From all I know ( or think I know ) gold should reverse today and start the final plunge next week. To end the bear cycle.
correct.
usd still too strong, furthermore, ppl in india and china are watching from
the sideline; they want to scoop some, but they also think that gold may go
lower, so they arent going to rush to buy it.
the fact that gold has come down to below 1200$,now, again for the n-th time,
the psyschology on gold is quite firm now: it will keep going down to even high
10xx, and eventually to the low 10xx, and might even go to 9xx briefly before
lurching back into +1000…
Big Al, did you buy more silver yet? How much are you going to buy? Are you going to buy rounds, coins or bars?
I still think you give us three days notice. After all, you and Cory are more powerful than the Hunt brothers.
Silver up 33 cents. Did Big Al buy yesterday? Or is it up because people know Big Al is going to buy?
You’re right, Ebolan. Big Al is powerful… powerful enough to move the markets at any directions he wishes. In fact, I’ve heard that one of his business associates is Rich Uncle Pennybags.
Chartster we can’t rule anything out. Hui just broke out again and headed towards 164 gap fill. Boy do I love me gaps..Miners headed higher for time being. I bough in today earlier on. We shall see what happens.
Glen,
I think there is a big head fake happening. I know gold is about to get crushed. I think WTI is going to get hit as well. I just can’t tell if the NAZDAQ is getting a correction here or blast off. I hope a 10% correction for my own benefit.
Chartster,
I have my finger on the trigger to sell if we hit 1171/1172 in gold..There is a gap at 1173 gold..
This whole downdraft has been brought to you by the major players. Saudi’s crash oil and leave gold to the bullion banks, MSM, and others, so the biggies can play Pac-Man. Armstrong’s call of 5K gold after the royal theft sounds logical.
Gold prices heading lower in the short term due to oversupply says Randgold CEO
The gold price remains under pressure in the aftermath of the end of QE3 and the start of the Japanese QE9. Is there a more fundamental issue of supply?
Mark Bristow, chief executive officer at Randgold Resources Ltd, says there is more ‘pressure on the downside than the upside in the short term’ for gold prices and the market is in an ‘over-supply situation.’ He speaks to Anna Edwards, Manus Cranny and Ryan Chilcote on Bloomberg Television’s ‘Countdown’ after the company’s third-quarter net income fell on lower gold prices.
Gold and silver Miners I keep an eye on on the FTSE swung up 5% today – some have gone above that last time I looked – but it all happened within 30 minutes or so of news breaking that Putin had sent tanks into the Ukraine.
Randgold mmm ? Bloomberg HA HA ! https://www.youtube.com/watch?v=RpCnUNovfqo
looks a lot like short covering dead cat bounce.
1340 people i do however like miners for a trade cause they’ve been crushed..
Short covering on news of tanks in Ukraine?
Tanks have been in the Ukraine for 2 months. This is a paper bounce. Not an event one.
Shorts are covering their 3 year shorts. I know I am…… Why wouldn’t on do this.. It’s been the best trade of the decade
Is there anyone who thinks this is a reversal instead of dead cat bounce?
Lawrence, I would like to see some follow-through next week… then I will be sold on this current move. We could wake up Monday morning and gold could be down $40.
Indeed. the consensus is a deadcat bounce on this site and everywhere else. Seems people don’t care to wait and see.
If the sentiment is “dead cat bounce” by just about everyone, maybe the bottom really has been reached. When sentiment is “nearly everyone pessimistic”, that is when the market can turn.
This is nothing more than some short covering and some bargain hunters.
There was no news today to warrant the move.
This is the cruelty of a bear market, it always gives you just enough hope to keep you hanging on and then it takes it away.
Classic Classic Classic slope of hope for three years now.
If there was a picture in an encyclopedia of what a classic slope of hope would look like this would be it.
Here it is Al…very simply said and “visually” explained for everybody to see:
http://www.youtube.com/watch?v=4naK6qQA0Y4
Please let Rick know, for he got defensive and “offended ” by my comment a few days ago eventhough I am in his camp and basically saying the same thing…
His technical analysis is by far BETTER than any of the other commentators you have on, but he is failing to connect the dots: TA means crap in a ZIRP (soon to be NIRP) environment. I would trust his analisys and advice blindfolded BEFORE the LTCM/Asian/Russian default crisis of 97-98 when markets were “little” monkeyed around with. But after failing to see what was coming in 2007 (even after the likes of Peter Schiff were shouting it in his/their faces from 2000-2007), Bernanke, Yellen and co. will do ANYTHING to prevent another Lehman, anything…until they can’t anymore…and when that happens -and happen it shall- there will be no gold/silver stock/company around to save you, me and any/everybodyelse. But until then: stocks up, yields low and all of the “sound” money people (I hate to call them insect names: i.e. bugs) very frustrated.
Be well,
Petro
Gary, yesterday you said ANV’s chart looked like it would go bankrupt. It’s moved up 24% today. Do you still think it’s going bankrupt, or does this surge change your opinion? If it’s not going under, it’s quite a bargain even after today’s gain. Thanks.
BB
Am I the only one who thinks this is Ukraine Russian tank related? I was sitting here in the UK when the news broke and the PMs spiked up on the news.
I feel it may triggered it. Some one was trying to push the price lower and seemed to hit a hard rock. James was crying. Either they have to run the price up and knock it down again or this is the bottom
Western sanctions are hurting Russia as is the lower oil price. As a result, on Wednesday, Russia says it might sell gold to pay for imports and 48 hours later Putin sends an armoured column into Ukraine.
The result – oil and PMs shoot up.
Bob, Putin will not go gently into the night. The west has backed him into a corner; and as everyone knows a leader who has his back to the wall is a dangerous one. We’ll have to wait and see if this situation escalates…
If it calms down I supect it will be short term. If gold goes back down early next week I probably will be buying. Let’s see what Putin does over the weekend.
Selling gold is made up. How can Putin say that. It is asking for low price.
Uranium stocks; CCO up 9%, FCU up 10%, UEX up 13% and UWE up 22%. Follow through on the news from Japan about starting up nuclear reactors.
Good news. Japan finally is doing one thing right
Hopefully they are only starting up the newer reactors and not the POS’s.
I think they Are not stupid enough to run their first generation reactors. That will be bad. We cannot afford another accident.
Dennison is up 20%. I have a lot of it. I have a lot of CCO as well. It went up nearly 10%. These uranium stocks are toxic. I lost money in it even I bought most of them after nuclear accident, way after.
So far, spot gold has put a double reversal, which is TYPICALLY (not always) very meaningful when a long move has developed (either on the way up or on the way down).
Quite a bullish move, IMHO.
Any thoughts on this Gary ?
Cheers & Best to all,
LPG
Very volatile today. Bought loco at 35 to 36 and sold at my target 36.40 but it went to over 38 quickly. Bought more CYBR on dip. Oil looks like it might breakout soon. I don’t understand why the oil downward cycle has lasted so many months. I don’t follow cycles but that cycle should not be so long.
Feel more than one big players are playing
Sold my trading positions and locked in the profits. Good luck to all.
Good move (;-)
remember one thing
gold is to protect you from governments, it is not money anymore
Apple and Google pay are the new currency. Don’t believe me. Ask your kids. Gold saves you form concentration camps by allowing you to bribe the guards
For argument sake, As Chinese we consider gold as treasure and silver as money and Paper money as currency and you have to use to buy things. We like to carry those things around and there are a lot of us LOL. Nobody cares about google pay in my old country.
Petro I waltched that video.
These guys are pieces of sh… They know Bullard has their back.
The interviewer “
Im going to have me a glen at the keg tonight :).
The interviewer called the correction a few weeks ago “scary times”
Is this guy f in kidding me?
These guys won’t tolerate any down days
For those interested in AG (First Majestic Silver)..there is a conference call scheduled..here is the info I received……
FIRST MAJESTIC SILVER CORP. (AG: NYSE; FR: TSX) (the “Company” or
“First Majestic”) is pleased to announce that it will be holding a
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(11 am ET), to discuss the Company’s third quarter financial results.
To participate in the conference call, please dial the following:
Toll Free Canada & USA: 1-800-319-4610
Outside of Canada & USA: 1-604-638-5340
Toll Free Germany: 0800 180 1954
Toll Free UK: 0808 101 2791
Participants should dial in 10 minutes prior to the conference.
Click on WEBCAST on the First Majestic homepage as a simultaneous audio
webcast of the conference call will be posted at http://www.firstmajestic.com.
The conference call will be recorded and you can listen to an archive
of the conference by calling:
Canada & USA Toll Free: 1-800-319-6413
Outside Canada & USA: 1-604-638-9010
Pin Code: 3928 followed by the # sign
The replay will be available approximately one hour after the
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Silver Trading Halted at Comex….. here is link….
https://www.youtube.com/watch?v=S-FbtjpIDhI
it is now sinking into the markets that QE is really over. QE is NOT inflationary. It simple raised assets for a wealth affect. That is over. So now the FED actually does increase the money supply and depreciates the currency. Coming to a theatre near you. Rick will get his deflation after cental banks have tried absolutely every other trick they can think of. And not til then I expect.
I think it drops down next week as the West is turning a blind eye to Putin and his Ukraine tank gambit.They clearly intend to hurt Russia further through the price of oil, crushing the roble, sanctions and, IMPO, a lower gold price. It would not surprise me to hear of more drops in the oil price next week by the Saudis or a big dump of gold.
ALL YOU TRADERS BETTER READ AND FIND OUT WHERE YOUR STOCK CERTIFICATES ARE LOCATED………………………
FRANKY……….posted AN 8 part video concerning the SYSTEM…………
Gary,
What are your our thoughts on the upcoming Swiss referendum and the price of gold?
I can’t see TPTB allowing gold to rise in the build up to this event (Nov 30th).
Thanks!
I am going to do a free conference call tomorrow morning for anyone who would like to learn a little bit about cycles and my views of where I think things are headed. I’ll post the details to my blog a little later today.
http://blog.smartmoneytrackerpremium.com/