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Gary has some interesting thoughts on gold today.

Big Al
November 16, 2014

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Discussion
59 Comments
    Nov 16, 2014 16:54 AM

    I agree with Gary and have also always thought that commodities would bottom now rather than next year.
    You can see here what a rising euro can do for silver (black line):
    http://stockcharts.com/h-sc/ui?s=$XEU&p=W&yr=5&mn=3&dy=0&id=p44586510883&a=367629788

      Nov 16, 2014 16:04 AM

      If Martin Armstrong predicts that gold will come down again in the new year, I feel he might know something. I feel he is quite angry sometimes and not sure why. Things have been working the way he predicted. He should be happy.

        Nov 16, 2014 16:15 AM

        Even if we do get another plunge, I’m not going to miss the action before then. I wonder if he expects new lows or just another big decline (which could start from a much higher level).
        I think Martin is angry because he gets nasty emails for his position on gold.

          Nov 16, 2014 16:21 AM

          Not sure. I am not subscriber of his service. I am considering to sign on. However I doubt how much it can help me since I tend to think independently instead of following instructions. I wound’t send any nasty email to him since he did not put my money in gold. It is myself.

          Nov 16, 2014 16:13 PM

          Matt,

          It is my understanding that he long ago called for gold to get as lows as a 50% retracement which puts it ideally at the price target of Bird,jj,skeeta, and others. Jim rogers stated that in history it is quite normal to see a 50% decline in any asset after it has gone up for 10 years. What would you expect he said in those words.

          Marty made a 1150 call minimum long time ago that would satisfy his appetite but also said he leaned more towards a break of 1000. Recently he spoke we will turn down lower. That is the green light for we break 1000 matt and im being 100 percent truthful. I trade this vechicles not as good as you and others but my forte is the longer term holdings. That is my bread and butter and i will not sell past 2000 gold and will buy everything possible if marty/rogers/birds calls come true.

          Nov 16, 2014 16:59 PM

          🙁

            Nov 17, 2014 17:57 AM

            🙂 Up very substantially on most of my GDXJ calls and a warrant.

    Nov 16, 2014 16:56 AM
    Nov 16, 2014 16:59 AM

    Two questions Gary. If large players use technical fund’s belief in TA to flush them out at the worst possible time, is using technical counter-productive in a manipulated market? Second, do you still believe we have a low next summer?

      Nov 16, 2014 16:31 AM

      I explain in the article why we may be getting that low now instead of next summer.

    Nov 16, 2014 16:32 AM

    Almost 20 billion dollars has transferred hands over the last two weeks in GDX and GDXJ.

    That is a bell ringing that big money may have just entered positions in preparation for a new cyclical bull market to begin.

    Nov 16, 2014 16:34 AM

    AL ! Dow you start to SEE ?

    Nov 16, 2014 16:51 AM

    Just saw an article mentioning that China is using low oil price to import large amount of crude to build up its deficient strategic reserves.

    http://www.guancha.cn/economy/2014_11_16_287082.shtml

      Nov 16, 2014 16:53 AM

      its import recently is exceeding world daily production.

    Tex
    Nov 16, 2014 16:35 PM
    Nov 16, 2014 16:36 PM

    I appreciate your thoughts Gary – both on here and also on your blog.

    Speaking as a Brit looking at Europe on this side of the Atlantic I just can’t see anything that will spike the Euro against the Dollar – UNLESS out of the blue the EU comes out this week and announces massive QE.

    Even the German economy – the workhouse of the EU which has basically boomed since 2009 – is now slowing down and having difficulties. Spain, Portugal, Greece and Italy are basket cases. France is just one massive public sector job creation scheme and Holland is in a mess also.

    The UK is just a giant housing bubble on top f the housing bubble up to 2008 which, unlike the housing bubble in the US, was not allowed to burst due to massive UK government propping up of house prices. Only Norway seems to be doing OK. The TV news in the UK this evening – both BBC and Sky News – is talking about worries of the EU going into deflation dragging down the UK with it.

    So I just don’t see what could make the Euro spike against the Dollar – surely it would have to be bad news coming out of the US about the US economy?

    The only other thing that I can see causing some kind of move in the markets this week is Putin flying home from the G20 in a huff and ordering the tank engines to be warmed up – when was the major Russian offensive around Stalingrad and the Crimea in WW2 started? Oh yes, on the 19th of November! 🙂

    World War Three aside I would be very surprised this week if the Euro rises against the Dollar but, hey, Gary has more expertise in these matters than I so I will be watching with great interest this week.

    I really appreciate Gary taking the time to gives us all a heads up. Fascinating week ahead.

    Nov 16, 2014 16:38 PM

    One last thought – because everyone and his dog thinks that commodities will bottom next year surely that makes it likely that they will bottom before that? You know, like the Germans in 1944 believing that the Allies would invade at Calais and in good weather?

    Nov 16, 2014 16:14 PM

    Monday’s Guardian.

    ‘David Cameron warns that second global crash is looming’

    ‘David Cameron has issued a stark message that “red warning lights are flashing on the dashboard of the global economy” in the same way as when the financial crash brought the world to its knees six years ago.’

    ‘“The eurozone is teetering on the brink of a possible third recession, with high unemployment, falling growth and the real risk of falling prices too,” Cameron writes.’

    ‘But with Germany, Europe’s manufacturing powerhouse, growing by just 0.1% in the third quarter, the eurozone economy appears to be faltering.

    A European Central Bank (ECB) survey showed that inflation would remain at worryingly low levels before picking up slightly next year. The annual inflation rate in the eurozone was near a five-year low of 0.4% in October and the ECB expects a rate of 0.5% for 2014 – well below the target of close to 2%.

    The EU may also be only one or two new rounds of sanctions away from pushing Russia into a deep recession as punishment for its interference in Ukraine, a point made in Brisbane by the Russian president, Vladimir Putin’

    http://www.theguardian.com/world/2014/nov/16/david-cameron-third-eurozone-recession-g20-warning

      Nov 17, 2014 17:46 AM

      Cameron rolling the pitch for his Autumn statement…no give-aways only take-aways for the pre-election. Only the Tories know how to fight the economic war ahead. Ha…bl…. ha.

    Nov 16, 2014 16:16 PM

    BUY BUY ! GOLD AND SILVER !!!! ( COPPER CAN’T GO DOWN ) CHINESE PROTECTION ! BUY BUY !!!!!!!!

    Nov 16, 2014 16:34 PM

    Japan back in recession. Surely USD up, Yen down this week.

    Nov 16, 2014 16:35 PM

    So GARY had a change of heart regarding gold

    In other words he flipped flopped again

    Nov 16, 2014 16:07 PM

    What about 2015?

      Nov 16, 2014 16:12 PM

      UP DOWN UP DOWN YELLEN !

        Nov 16, 2014 16:15 PM

        A SUPPER THIME BUY THE ENDEAVOUR AND YAMANA AGNICO IAM AND GOLDCORP !

    Nov 16, 2014 16:34 PM

    Just a reminder. Uranium is on a uptrend. It went from $26 to $44 in 3 months. Japan is restarting reactors. The reaction on price of the miners have been muted. If the U price keeps going up, the miners will shoot up.

      Nov 17, 2014 17:36 AM

      It might be wise to add some uranum stocks now if you don’t own any.

    Nov 16, 2014 16:40 PM

    There is an interesting article about why German halted the repatriation of gold. It also mentioned that what German got this year is from Ukraine not from FED. Only 5 tons are from FED after 2 years.

    http://www.zerohedge.com/news/2014-11-16/real-reason-why-germany-halted-its-gold-repatriation-ny-fed

    Nov 16, 2014 16:28 PM

    Everybody! Buy now and do not wait at all”. Gold and silver metals much as you can Mustard. And then also Buy old U.S Gold and Silver old Coins Do the Same as above.. And then buy Gold and Silver Stocks and not Before”!”. Before China and Russa does “!”

      Nov 17, 2014 17:54 AM

      George…..please.
      SLOWLY……
      Breathe in, breathe out….breathe in, breathe out…repeat ad nauseum.
      Then try loosening the chin strap on your tin foil helmet.

      You’ll find it works wonders….& stops panic attacks.

    hal
    Nov 17, 2014 17:28 PM

    i am getting tired of all the discussion of the strength of USD–against what and nobody really discusses it. Euro/Yen/ Pound Sterling? Or any others for that matter. Greenspan is getting honest in his old age.

      Nov 17, 2014 17:48 PM

      Just like four guys jump out a building. Since there is one guy falling slower than the rest, someone believes that the building has to collapse as well.