Gold finally above $1,300 – Here are rick’s updated targets
Gold is finally breaking decisively above the $1,300 level on the heals of the Fed holding off on rate hikes and the Bank of Japan holding off on more stimulus measures. We have Rick on to discuss updated targets for gold. We also take a look at the oil market which is continuing to fall.
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JTL, when war breaks out, you and others won’t have to
worry about it anymore.
War is a certainty and assured along with disastrous
financial collapse.
Well done Northern Ireland! Blimey if NI can beat Ukraine I would suggest they settle with Russia
Heres the reason gold is moving. The world is preparing for
war and a financial collapse. Canadian government is warning.
Thats the real story. No one is reporting it. Have we become that
brainwashed and desensitized to the truth.
Can a full grown male piss with little girls? Can wealth be created by rearranging a few electrons? Can thinking man come from unthinking atoms? Is reality fluid? Is “reality is fluid” fluid? Man without God is a brute beast like a bird.
The belt buckles of Nazi soldiers claimed God was with them. No god, no approval for murder.
The world is in rebellion and abominations.
It all ends sooner, rather than later in annahilaion.
Some of you here might find this list interesting.
Many have been named here before.
Great article Tony. I follow most of the companies listed on their top 10, and really liked that chart at the top with the price per ounce of gold on acquisitions the last few years.
Much appreciated!
I thought this article was pretty good, especially since they were discussing yields. One thing they won’t let go of at Sprott is how no defined clear capitulation occurred during the gold correction, they claim there was one, but the lenghty skew in gold prices saw that no capitulation would occur in the $US gold price.
http://sprottglobal.com/media/86079/paul_wong_interview_transcript.pdf
I’m thinking that investor psychology is changing now that gold prices topped $1300 again, and that a major change in sentiment is about to occur, that $1300 is the line in the sand which nobody ever thought the gold price would ever cross, much like the $500 mark years ago.
I will say one more time what I have been saying for the last 4 years on this site…
Until gold takes out and closes above $1340 for three consecutive days we are still in a bear market.
if you followed this rule you saved yourself a lot of money and time.
In 2014 gold did close above 1340 and closed as high just under 1400 bones.
Rick’s technical analysis regarding gold is excellent imho.1382 max target i.e. the 38.2% fib retracement from the 2011 high of 1920 and it is also 78.2% of wave A from 1047 to 1283 and the 1382 meets exactly the upper trendline from 2011 high.Thus to conclude I must say that 1382 is very plausible.Having said that the 1335.40 min. target must be exceeded first.
The gold rally is fizzling. Never liked the odds and
this could be a nice gold bull trap.
Gold bulls with their pom poms. Never a good sign..
These spike rallies are also used to hit all the
shorts buy stops.
Thats what they do. Declines can’t really
progress with any significance until the
shorts have been eliminated and cleared.
Well .. some ENTITY does NOT like gold above $1300.
What a roller coaster ride today.
Your friends at The Fed and the bullion banks.
Nevertheless, the market is not going to reward
all these participants and all this bullishness.
In conclusion, you don’t want to get in the way of
a moving train either.
Standing aside is the best advise unless you want to
get burned.
Thats precisely why I said, the odds to not favor risk
taking. Not in my book. Its gambling. I do not gamble.
I’m only in – to win. !!! Everytime
you lose every time.
now go get your lunch box and get your $5 buffet lunch in Vegas, you punter
What you mean JTL, is you need to go back to the drawing
board. 1340 you stated that gold never closed above it 3
consecutive days in a row last 3 years.
WRONG AGAIN. gold closed as high just under 1400 and
closed many times over 1340 in 2014.
Your gold bottom failed too of 1212 a year or so ago.
No JTL, you have the discernment of an empty snail
shell. Erroneous inaccurate false jargon.
Go do some more squiggles on your drawing board.
JTL, your only here because your horse racing career business
is on the rocks. You know nothing about the financial markets.
Ignorant to all the protocols and they way they really function.
Always shooting from the hip. The horse racing crowd.
Nothing but misinformation and fraud.
I trimmed some DV and AXU into strength today and have already redeployed the funds.
High sale for AXU was 1.44; average sell price: 1.4115
It’s funny to see how quickly some people panic and dump.
vegas is calling. get your early bird buffet and count the $20 chips they give you.
maybe you can make it last a few minutes.
Its a lot better than smelling horse manure like you and not
making any money. Probably lost fortunes and now your
just another statistic. Here you go a sign nailed on your
barn door and where you reside.
●JTL lost big. Out of business ●
HH keep spouting your nonsense.
You are a punter.
Gold going to the moon, gold going to the moon you kept shouting.
You are a fool.
Now you supposedly are on the sidelines.
if you are on the sidelines it is because you are tapped out from being wrong big time.
you were late and you were wrong
now go get your lunch box and your free buffet at Vegas, where you love to go.
keep you $1 chips close to the vest
Gold went to 1400. Get your facts straight.
Calling me names only makes you guilty
that you cannot hold a respectable debate
or conversation.
JTL, you have no manhood. When you are
defeated, you turn to malicious derogatory
name calling.
Even the horse racing crowd, as bad as they
are, don’t want anything to do with you.
Your a negligent person who is of poor character.
This place is starting to resemble the name-calling one sees on stockhouse chatrooms.
Calm down kids. If you’re not on the right side of the trade today, maybe you should back away from the computer and do something more constructive.
Respect yourself, and others.
Nice one Rand.
+1 Rand.
The action in the metals is really pathetic!
Let me repeat it again…I have no time to waste on a punter like you.
If you want to delude your self when you say “I’m only in – to win !!! – every time”
Then go on deluding yourself.
Save up your kitty cup, go to Vegas and pull the arm like the rest of the losers.
Have your $5 buffet and call it a day.
Go waste someone else’s time
JTL, you don’t know how to win.
I’m a big block trader. I play any
side of markets short and long.
I know how to calculate risk. I don’t
take chances in desperation of profits.
I don’t care where gold goes. Fortunes
are made on the short side as in several
weeks ago.
If that upsets you, go pound some sand !!
While your are at it : GO FIND SOME SCRUPLES. !!!!!
Lewis, this action is nothing new.
As a matter of fact I started this whole thread exactly about this before it happened.
The time will confirm that.
It is another shakeout. Their will be plenty more.
get used to it.
Did you think the banksters were just going to roll over?
Didn’t mean to strike a nerve just making a comment and by the way hell yes I am used to it been that way for 5 years!
See my first post and tell me how prophetic that was
JTL Don’t rise to the bait. A number of us are having to learn that lesson! Best, A
According to Kitco gold’s return to below $1300 is on account of a British politician Jo Cox being shot and killed in her Yorkshire constituency earlier today, with the rumour now circulating that the Brexit vote on the 23rd will be postponed.
This murder is not a time for conspiracists I would suggest. Although an ardent ‘Remain’ campaigner, Jo Cox was clearly a remarkable and ultra humane MP, loved by her constituents and MPs on all sides of the House.
It seems that the assassin was mentally unhinged, and who when behaving more normally was a good friend and considerate neighbour.
Our deepest condolences are extended to Jo’s family and to her two young children. RIP.
Zero Hedge says the Brexit vote is suspended due to the murder of Jo Cox.
My guess is it has been suspended because it looked like Britain would leave.
Murdering Jo Cox is used as the excuse.
So terrible people will buy it, it would never occur to the average person.
Personally I can see no logical reason to delay the vote.
Was she the only person that could count the votes?
B..The vote was not cancelled, it was the campaigning ..Hope that helps.
THX Tony, I actually just noticed.
Came back to correct.
Never fight the fed guys and never fight the establishment that wants the usd to remain the worlds reserve currency.Their goal in the coming months is to strengthen the usd and weaken gold.They want no substitute for the usd not even the precious metals.However, the usd has to to succumb for the free market pressure one day but that is not in the near future.The fed in liaison with the tbtf banks will fight tooth and nail to keep the usd reigning supreme.
Precisely correct Don. We are in a financial war
and very likely it will go physical.
Until the war is over, gold trade will not prevail
like gold crowd is hoping. More than likely.
If The Western Imperialist start losing this battle
world war will ensue. No winners and all losers.
We are in the end game. Its unfolding under our
watch.
The military compound is the most valuable chess piece and ultimately they will have to play it.Now they are playing with the pawns,bishops,knights and castles.They will leave the queen of darkness for last.
Well said Don. Its all being played out and all
our lives are at risk.
Best comments I have read in a very long time.
In ww1 the u.s. used all its might to annahilate the nazi regime.Their intentions was to keep the nazis at bay.They knew that if hitler was not stopped he could have entered in alliance with japan and devastate their country.Their idea was to rebuilt europe and become the world superpower and those(japan) who tried to put a stick in their spokes were obliterted.When hitler was defeated their goal in europe was reached and when japan offensive was getting stronger they put a lid on it by going nuclear.Japan stood no chance and the u.s. has come out victorious on all fronts and puppet governments in both asia and europe have emerged.
ww2 not 1
Good stuff Don. Now Islam is being used to destroy The West.
We have Nazi’s occupying Washington right now. We have been
taken over. Anyone who can’t see this is really dumbed down.
World war lll has been planned for more than a few hundred years.
Its all unfolding at this very moment in time.
isis is a proxy army created by the establishment and trained by the cia.Its goal is to terrorize people and destablize countries who is some way or another go against the interests of the u.s. but mainly to destabilze europe and ultimately reign supreme.Divide and conquer has always been the motto of the U.S of A.
Agreed Don. However, that force behind The Industrial Military
Complex, NATO and The UN are out to destroy humanity.
It goes into the dark spiritual realm and there are many that refuse
to accept it. The occult is multiplying by leaps and bounds that is
going to bring humanity to its knees. Major mass destruction and
bloodshed is coming in the not too distant future.
Everyone is on the Titanic !!!
I think the gold bull fell through the trap door…
Good job Chartster. It was a bull trap.
The odds just were not there. Did not
pass the smell test.
Chartster the weekly is forming an evening doji star.The trap door could have been closed today.Price has reached the 1313 target i.e. the 200wma.However my gut feeling tells me that price has one more thrust to the upside to the 1330 level.They are trying to whipsaw as many bulls as bears atm.Trigger stop losses left and right.If 1279 holds then tommorrow is gonna be an up day for gold.
Don, we certainly got the whipsaw today on just about everything. I’m expecting much more downside for the next 5 months. But soon as I think it’s heading south, it goes up. Lol
No close above 1308 tells the story. The Bulls in Europe got trapped hard core today.
Chartster algos are running at full steam.Me too am waiting for more downside in gold in the coming months.The 200mma currently at 853 is the ma that I am watching.It will meet price at 888 aka angel number in the end of the q1 of 2017.
HH first off you have no idea how to calculate odds, so stop the nonsense.
This isn’t Vegas. If you want odds go back there, take your lunch box with you.
I called the top in gold several weeks ago.
Also said a week ago the bulls were in control.
Now go shovel your horse manure and take a
cold shower to repel all that sweat that your
nerves are causing you from my success.
My success enrages you ! Your a bitter man
HH you are a punter.
Keep making your mythical play bets.
When you are ready to make real best let me know, so I can do the opposite.
Go to Vegas and have your $5 buffet you love so much.
Play the slots with the $1 chips and knock yourself out.
Not you again !!! Would you please kindly
stop your rhetoric and get away from me.
Take your slobber with you !! You are a
nuisance and behave like an adolescent.
TUT-TUT…Naughty children in the nursery.
Come on Tony !!! I just turned 3.
I’m a big boy now !
What happened to Birdman. He missed the big party
in golds major reversal today !!!
The gold bulls went thirsty and the gold bears drank
up all that Dom perignon.
OK. I’m done with KER.
Is it just me, or are 95% of the posts completely irrelevant to the mission statement of KER?
I just cannot wade through crazy, abusive, childish comments anymore.
Occasionally I find nugget of useful information along my KER walk (thank you Matthew, Excelsior) but there is just too much crap to scrape off my shoes at the end (TJ, JTL, BM, etc.)
And another thing, I am frustrated with posting OCCASIONAL contextually relevant comments, or links, and have them ignored or blocked. Yet, the Zero Hedge slime slips right through.
Good Luck (as they say, you will need it)
Brian
Sorry to hear your done Brian as I enjoy your posts.
Hope you reconsider & continue posting your thoughts, links etc.
Cheers.
I second that, this Brexit is not welcome.
Agreed on the no Brian Brexit from the KER. However, I completely understand the sentiment Brian, and the thought has crossed my mind regularly for years to do an Ex-it.
Just do a SWOT analysis (Strengths, Weaknesses, Opportunities, Threats) on the KER.
Normally though, there is enough value and insights woven in from guest speakers, daily editorials, weekend shows, and the number of very the polite and well-informed contributors to make it worthwhile. It’s like shucking oysters for a few pearls….
As a matter of fact, Brian, because of your comment on yesterdays Market Wrap (that you posted this morning), I saw the news about Sabina and just wanted to say thanks and I appreciate your contributions here. I understand though if you’ve had enough of the blog sewage though.
Regardless – May you do well in your investing.
Nice comments guys to Brian. I find myself skimming the KER site which I’ve been on for years, but really benefit from certain contributors.
Brian don’t let them get to you!
I feel the vise grips all around me and strangling people’s pockets. People are struggling that is the average Joe. The rich are pinching and cutting back. Many are turning lights off to conserve energy. I have been to two homes in the passed weeks and needles to say I thought the power had been turned off as we sat in the living room in conversation with near darkness. At one point I offered to pay the energy bill jokingly and they quickly turned lights on. Fact is we are not out off the woods and this thing is going to end badly.
As many off you know already with the exception of bird that I’ve called for 2016 fall/2017 first quarter as date of a low in gold, a meaningful low or important low and not necessarily a new low in gold. This call goes quite a way back. I also mentioned to shad that gold had the possibility of putting in a higher gold price through summer and only to correct from a much higher price. I don’t have a crystal ball but it smells like a higher gold price first followed by a major crash in markets/equities into my dates. I’m not the only one calling for this but I may be the only one saying we correct from higher price in gold but then gold will go down with everything else. It won’t go down like some believe but equities will take it down initially. In my eyes it is 2008 with presidential elections all over again and then the major stimulus coming. The mother of all mothers in injection and new highs for everything.
Good luck to all
Good thoughts Glenfidish. Yep, it looks like we’ll be pulling back from higher levels in Gold for the summer, which I view as a positive set up personally. I’m a little vexed that Gold couldn’t close above $1307.80 yesterday, after punching up through that Jan 2015 high and being notably above that resistance zone. While I agree with folks that mentioned Gold needed a breather after 6 days of gains, it would have been much more bullish to close above $1308 yesterday (an everyone knew it and was watching for that). Regardless, it looks like your projected outlook is going to on the mark.
Cheers!
Brian, my posts are important, insightful and relevant.
I can’t help it if HH hijacks the conversation with his constant fear porn and the sky is falling down dribble.
No JTL, on a daily basis you are busy insulting Rick A. and now Avi
Gilbert as of today.
They never offended you, but you found the need to belittle someone
else so you can feel better about yourself.
Please do yourself a favor and seek professional help to avoid making
this world even worse than what it already is. If everyone was like you
this world would be a real cesspool beyond anyone’s worst nightmares.
You are consistent with the insults daily and I’m totally against what your
doing. Its not occasionally, it’s a bad habit of yours.
Which makes you unstable person and of very poor characteristics !!!
Furthermore, Brian must also understand the last couple days
or so has been very stressful in the gold space. We have many
forces at work and geopolitics is one major factor coupled with
possible financial collapse. Its no secret, so don’t come in here
and say the world is on a solid footing. Couldn’t be further from
the truth. I do not want to hear the bedtime stories.
I have commented on the financial markets, gold trading and
geopolitics. All of these affect the future and prices.
● in closing, a forum must be open to discovery of facts. Once that
process is eliminated it serves no useful purpose. Post what you
want and its a believer it or not subject. No questions asked policy.
If I feel its unnecessary to debate a subject matter, I will note that
in my posted comments.
Majority of all my commentary are all supported by documented
facts, news articles and reliable analysis/discussions.
By no means do I claim to be perfect but I can assure everyone that
any misinformation is avoided because I am appalled by just the
thought of it. Anything that is misleading or deceptive practices.
HH You are wrong about Avi.
I’ve “insulted” him in your words prior to today.
But it is not insults. It is facts.
If there’s one thing I despise hacks mascarading as experts.
I don’t insult Rick A. I point out that he is wrong.
He called for $850 gold. That’s a fact.
It’s ok to be wrong, just don’t sweep it under the rug and pretend it never happened.
As far as Avi, he is nothing but a self aggrandizing self promotor who treats the members of this blog as child.
It figures you would go for that sort of thing.
It also funny how you seem to rub so many people the wrong way, whereas I’m concerned I’ve only had disagreements over the years with Matthew.
I never start arguements, but if people start with me or don’t man up to their wrong calls I call them out.
When you make a ridiculous statement like you win every time I call it out.
You beat Rick over the head everyday and
you are a broken record.
I can’t have a debate or conversation with
you unless its a malicious name calling
event and deplorable degrading comments
from you. Its despicable !!!
Didn’t your parents teach you any manners.
Whats wrong with you ??
JTL, there is no justification to disagree with
someone as you stated in your most recent
post regarding Avi Gilburt.
Those are vicious and completely disrespectful
comments regarding him. Very distasteful and
of very low caliber. I am appalled with those
words you spoke against him.
You owe Avi an apology.
First of all I’ve made it clear for years if someone is going to accept the badge of expert and is give the mike then they need to be held accountable for their analysis and selections. It is fair game. Some people are influenced by these people, and many people lose a lot of money following their picks.
Someone will turn around and say you are supposed to do your own research.
Then what is the point of having them? Is it for entertainment value?
No.
Avi Giobert is selling a service, pure and simple. People can waste their money anyway they choose. But if I can save one person from blowing their money on these self serving promotors I will feel I helped someone.
The bottom line is if Avi Gilbert, or anyone of dozens of other service providers could consistently extract profits from the markets they will never need to, nor desire, to sell their methods, picks, analysis.
Your crazy if you think I will apologize for that.
JTL, I understand and if you feel the need to voice
your concerns we need to take the time to use more
care when doing so. Or don’t do it at all.
Be more thorough and make sure the facts about the
disagreements are justified so we know the circumstances.
Don’t be rogue and act with more respect because being
cruel is not the ideal way to handle any matter. Well,
unless that person is treating you very poorly. Stay firm
and make sure they are aware you will not tolerate abuse.
Anyway, lets call it a night and go in peace. Lets put this
behind us now. If you are willing, so am I !!!!!
Please don’t take my kindness for weakness JTL.
Your behavior is still unacceptable. I’m only trying
to promote peace. You don’t cooperate, I will consider
as someone who is now arrogant and defiant.
Please don’t let me add more to the list of your poor
characteristics and qualities.
On June 16, 2016 at 3:17 pm,
Brian says: OK. I’m done with KER.:
I second that. I’m here once a month.
Respect to Rick A, Mathew, Bird and the bosses but…..
I remember when BM new it all. I can remember soooo many BS calls……Then writes a book “Knowbody knows Nothing” Yes BM knows jack. The US bond market was going to blow sky high 8 yrs ago? lol
Waz one of the most errogant JA around.
upside targets are very nice but having lived through this five year long brutal bear market I take nothing for granted.
they can wake gold at any time. that is what is happening here and now.
you could either take the position that this is a bull throwing off as many people as possible or you can take the position that they are going to do it again.
by do it again I mean take gold down hard once again.
you cannot take anything for granted, or assume anything
these guys will stop at nothing, and I mean nothing to put a lid on gold and keep these markets levitated.
assume nothing, expect nothing and hold on
its going to be very very bumpy