Wrapping up this week with Gary and comments on gold and oil
Gary stuck around to provide us with his thoughts on the how gold finished the week. The stocks put in a good effort this week and he thinks it will continue.
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Matthew
that is worth a lot…..but man, would have liked to see more power/thrust in gold and silver today…but, what do I know!!..:0
It’s all good Marc. I think gold will take out resistance at 1158 easily next week.
http://schrts.co/ot5vQ4
Then it’s on to the 1170 area:
http://schrts.co/BamtSH
I should have started with the daily chart. First, gold has to get through resistance in the 1140s.
http://schrts.co/55R5eQ
The Canadian dollar was able to close the week above fork resistance and, for the first time in almost three months, the 5 week moving average.
http://schrts.co/Z2tHJp
(i can see those charts)
???
That was an excellent explanation Gary. Actually you managed to change my mind. I am much better technically with the declines than the rally’s in gold but after giving this more thought I went long gold miners for the weekend (and damn the torpedoes).
Stick to your convictions. The chart leaves doubt as it always does at the close but through the next week i think you will be absolutely right on the miners.
What is interesting to me is that when the Fed again noted inflation was too low I realized that what they were really saying amounted to a trade-off. For commodities, and thus inflation expectations to arise, they need to sacrifice the general equities markets and tip their hats to the resource trades.
A rotation in other words. And that may be in the formative stages as the dollar confirms its ongoing declines by falling under the 200 day even as gold shoots skyward. NEVER presume that the Fed is anti-gold when it is in their interests to telegraph the inflation that is desired.
Keep up the great work!
Gold has broken out (bullishly) vs the Dow from a huge falling wedge. Let’s see if the bulls can keep it that way for the monthly close on Wednesday the 30th.
http://schrts.co/xqPqGp
Thanks for ALL THE CHARTS………….and hard work……………
You’re welcome amigo.
Jerry,
ditto
CHECK OUT THE 2009 ULTRA HIGH RELIEF…ST. G.
CHECK out the issue price……..then check the MS.70..price……..
WHAT IS in YOUR WALLET…………….
Sep 18 Fed’s Vast Gold/SPX Impact Adam Hamilton 321gold
Great article
usawatchdog…………has a nice market wrap today, especially at the end with the charts.
saw it… good job…Greg Hunter..
Al Gold was up from $5-10.50 or so all day …were you looking at how much it was up on the week?
Amen……on the road again………….. 🙂
The Bank of England’s chief economist has just said that they might have to reduce interest rates – a few days ago they were talking about raising them.
Seems like deflation is definitely their worry – how long before they start talking about QE?
Bob,
What the these clueless academics in the banking structures of the world don’t understand is that QE, believe it or not, is deflationary in its current form.
The complete destruction of organic money velocity because of collusive money hoarding by banks and interest rate manipulations has created a deadly combo because of the staled economic life blood of nonexistent money flows combined with zero returns on capital pose a vast swath of deadly consequences.
The world is currently being run and contorted by a few thousand sick and unaccountable low IQ inbred bureaucrats that think they are all knowing and will stop at nothing to prove a failed doctrine.
Without a massive worldwide awakening to turn this dead-end trend back that is and was caused by a group of sick hubris filled elites, the man and woman on the streets in any country you chose to name have no chance.
Simply we have a double whammy in play, Deflation from obstructed velocity of money, but a burgeoning and brewing nightmare of high inflation just waiting to be unleashed with a devaluing currency as a kicker.
Vortex!
Well said in the verse of a poet!! Great missive..:)
Thank you Marc, all the best to you.
V
Gary nice points you made.
Reaching $1250 approximately would be a breakout from the gently falling wedge trading range since the April 2013 crash. $1250 for me is a line in the sand. Above $1250 breaks a 2+ year pattern of consolidation following the crash on 12 & 15 April 2013.
Anything above $1240 might just about suffice since the upper trendline is a little lower than a couple of weeks ago.
http://1000gold.blogspot.co.uk/2015/09/1240-might-suffice-as-potential-to-end.html
The dollar topped today, to the penny, at the falling 20 day moving average.
http://schrts.co/aksVvs
Still agree with Gary’s views, fwiw.