Technical outlooks for Copper and Gold
We kick off the day with Rick Ackerman and his outlook for copper and gold. With all the Geo-Political news over the past 6 months we have seen some significant swings in the metals. By just looking at the charts Rick shares some targets he is watching both higher and lower.
Click download link to listen on this device: Download Show
Italy has a major banking problem. Like Greece, Portugal, excessive government spending without the ability to modify its exchange rate is destroying its economy.
It is design flaw of having a common currency, without fiscal unity.
GDXJ perfectly filled Friday’s gap and backtested its breakout:
http://stockcharts.com/h-sc/ui?s=GDXJ&p=D&yr=0&mn=7&dy=0&id=p60385772659&a=491315781
Thanks Matthew.
You’re welcome.
Click again. The miners are acting very well despite gold being lower.
Agreed. Same with most of the Silver miners verus Silver.
When ANY government runs a permanent deficit spending, it is, by design, destroying its economy!
this can be temporarily disguised for a considerable period by a reduction in the value of the currency.
Nevertheless, running deficit spending over extended periods of time, always leads to the decline or even total destruction of an economy.
Since everything is always relative to something, it may not always appear obvious and politicians love to obfuscate the situation and stay in power by buying votes by their lies.
GNX is looking strong and is challenging its 2016 high:
http://stockcharts.com/h-sc/ui?s=%24GNX&p=D&yr=1&mn=0&dy=13&id=p81384938173&a=462534878
Like I said before the Italian Referendum – it was all BS.
another narrative by the gold pumpers to pump it up, gold down as much as $18 at one point.
So all you back up the truckers out there – here’s your chance (again)
All you gold’s on sale todayers – here’s your chance (again)
Problem is gold is on sale everyday , like JoS A Bank
Buy one suit get 50 for free
The swamp creatures are going to have to start getting more creative now.
Now for any of you swamp creatures, there’s 1 or 2 on this site how bout you start putting your money where your mouth is?
Mr Moriarty, you swamp creature – WHERE WILL GOLD BE END OF JUNE 2017?
You’re an ignorance pumper, James. Good luck with that.
“how bout you start putting your money where your mouth is”
Could you be serious!?!? Coming from the guy who hangs on to an investment that he disses constantly?
Between this and your short-lived attention-seeking farewell, your words are clearly worth very little.
Swamp Creature:
Tell me where the dollar will be and I’ll tell you where gold will be. You can’t so I don’t pretend to be able to forecast the price of gold. Others may do so but they have no more sense than you do.
I can tell you when it’s cheap and when it’s expensive. It was cheap last Dec/Jan and I said so. It got expensive last July/August and I said so. It’s cheap now.
Stop whining and go away like you promised. You sound as stupid as Birdman did. His capitulation and agreement that we were in a gold bull market was what was needed to kill the upward move.
SLV:GLD continues to show the underlying bullishness of the sector…
http://stockcharts.com/h-sc/ui?s=SLV%3AGLD&p=D&yr=0&mn=9&dy=0&id=p50332222226&a=475491593
You gotta keep his con even after you take his money. He can’t know you took him.
– Henry Gondorff, The Sting
Matthew, your charts in all there glossy color have gotten you no where.
A big fat zero.
But you refuse to admit it.
Anyone with a serious face that can say silver is still in a bull and the underlying bullishness of the sector is a complete farce.
You look ridiculous
You’re helpless and beyond helping, James.
Yes, my gains this year do look ridiculous. 😉
Matthew, you have all the charts
I will pose the question to you…
Where will gold be end of June 2017?
Or your beloved silver?
Matthew, I can’t speak to your alleged gains since I have no idea what you trade or invest in.
I can only speak to what you have been saying for 5 years, that being silver is still in a bull market, it is only in a cyclical bear market, even after a 70% loss and 5 years of time.
But if your gains are truly ridiculous than it should be a small thing for you to forecast where gold and silver will be by end of June 2017? Or end of 2017.
This should be a slam dunk for someone who is making ridiculous gains
James, forecasting prices is not necessary for anyone that knows what he’s doing. My position in Americas Silver is now nearly six times what it was just two weeks ago. Let’s see what happens between now and the end of June.
The secular bull never ended. That’s a fact.
As for my gains and having no idea what I invest in, you should have paid attention. I posted much of what I was buying in real time (Like IPT, AXU, USA, JAG, GMX, SMD, etc.).
Interestingly mr Moriarty, that swamp creature has been very silent.
He will not take me up on my offer, I guarantee that
😮 🙂
The buck is going down like I recently said it would. The question is whether or not this is an important reversal. Based on the confidence level of bulls like Rick Ackerman, it probably is.
http://stockcharts.com/h-sc/ui?s=UUP&p=D&b=5&g=0&id=p77124228132&a=491599323
Pete, I know,you,like to throw your digs in now and then as a good soldier.
Where do you think gold and silver will be end of June 2017 and end of year 2017?
Or should I assume whatever Matthew says it’s ditto for you?
Matthew, with all do respect I don’t pay attention to what you do.
To continue to repeat the “secular bull never ended. That”s a fact” says it all.
Mr Moriarty is anyone home?
So there you have it, exactly what I expected.
Two no shows, and one you don’t need to know if you know what you are doing, very cryptic to say the least.
All these experts and not one could hit the broad side of a barn.
Like I said before, you can’t be helped. You’re unteachable. Is that too cryptic, too?
JTL AKA Swamp Creature Deluxe:
If you would spend $3 on Amazon you would know what I think of “Experts” but I suppose you would have to have someone loan you the money. You sure aren’t making it from your investment expertise.
Can you beat this quote, i.e., give me one time in your pathetic life where you have done as well?
“No conspiracy exists to keep down the price of silver. And silver isn’t especially needed as a war metal contrary to some popular silver bulls. Many metals are far more critical to our war needs. But there is a price where anything becomes a bargain and if silver isn’t cheap now, I’d sure like to know when it will be.
On the retail level, silver got down to $4.00 on a spot basis recently . That’s the cheapest in real terms in 5,000 years of recorded history. Are you waiting for it to get cheaper?”
That was December 10, 2001. I missed the absolute bottom by two weeks. Matthew is exactly right. We are still in a silver bull market. I own much of the silver I was buying below $5 but I also sold a bundle at $43 and bought it back below $17. I can’t predict where gold will be in six months any more than you can but two months ago I was looking for $1250 to $1300 gold before the correction was over and I’d say I nailed that.
And all you can do is whine.
Go buy a dog and practice kicking it. It might love you in spite of that but you coming to a resource site and pretending you know anything at all is pretty much a waste of time.
I think you are the Troll from the Great Dismal Swamp. Go home, I hear your mommy calling you.
JTL AKA Swamp Creature Deluxe:
If you would spend $3 on Amazon you would know what I think of “Experts” but I suppose you would have to have someone loan you the money. You sure aren’t making it from your investment expertise.
Can you beat this quote, i.e., give me one time in your pathetic life where you have done as well?
“No conspiracy exists to keep down the price of silver. And silver isn’t especially needed as a war metal contrary to some popular silver bulls. Many metals are far more critical to our war needs. But there is a price where anything becomes a bargain and if silver isn’t cheap now, I’d sure like to know when it will be.
On the retail level, silver got down to $4.00 on a spot basis recently . That’s the cheapest in real terms in 5,000 years of recorded history. Are you waiting for it to get cheaper?
I came across some interesting numbers recently. All the gold mutual funds in the world only add up to about 1.97 billion dollars while the total invested in mutual funds is about 3 trillion dollars, some 1,500 times greater. Another 2 trillion dollars is in money market funds. Essentially it means for every $1 in a gold fund, there are $2499 dollars not invested in gold funds which could be. Is there a bright future for gold? I’d say so. Put another way, of every $100 in mutual funds and money market funds, a mere 4¢ is invested in gold. And silver, far less. Four cents out of every $100 in precious metals, that’s remarkable. We’ve got a fairly good handle on the amount invested in gold, but silver is so out of favor we don’t even know.”
That was December 10, 2001. I missed the absolute bottom by two weeks. Matthew is exactly right. We are still in a silver bull market. I own much of the silver I was buying below $5 but I also sold a bundle at $43 and bought it back below $17. I can’t predict where gold will be in six months any more than you can but two months ago I was looking for $1250 to $1300 gold before the correction was over and I’d say I nailed that.
And all you can do is whine.
Go buy a dog and practice kicking it. It might love you in spite of that but you coming to a resource site and pretending you know anything at all is pretty much a waste of time.
I think you are the Troll from the Great Dismal Swamp. Go home, I hear your mommy calling you.
I went into Intel under $34 and I am looking for 38 to $40 over the next few months. Tech has had a significant correction and it may be time to put some money here while waiting for a better reentry into energy.
First of all I could probably buy and sell you 10 times over you swamp creature.
I don’t whine, I make big money on big bets when I have value and edge.
I’m not the one who needs to peddle some crap newsletter or book or subscription fee like you do to put money in your coffer.
I’ve been buying silver since it was $4 and I will be you I have a sh$t load more than you do
Delusions of grandeur, too, senor Pollwog?
Sorry, that’s Pollywog.
JTL:
You’re so rich that you can afford to waste time as a four legged troll on a site where you despise everyone.
Monopoly money doesn’t count.
You made such money in silver you need to peddle some crap for $3?
I will give you the $3 – just say you need the $3 and I will write you a check.
It has a lot more integrity that way
JTL:
As with everything else, you are being critical of something you know SFA about. Read it and then tell me just how stupid I am. By the way, I’m waiting for one tiny prediction you have ever made that matches calling the bottom in both silver and gold and the top in silver to the day.
Put up or shut up. If you can’t do the math, selling books for $3 is about as close as you can get to giving them away.
$3 is as close as you can get to giving them away, which is about how much any sucker would pay to buy it.
Believe me if you could get more peddling your crap you would.
P T Barnum
JTL:
I’m shocked you know how to even spell integrity. You are the guy who was going to go away.
Put up or shut up.
You have not contributed one tiny bit of advice ever that someone could have profited from. You want to throw darts at everyone else and I could give you links to great advice I have given for 15 years. How many times do I need to nail it before you remove your head from where you have it inserted?
Gold is cheap. Silver is cheap, platinum is cheap and the dollar is expensive. You can take that to the bank for free if you are so flipping cheap you won’t spend three bucks to realize how foolish you are bad mouthing something you have not even a single clue about.
Take up a productive hobby that suits your talents and inclination. Such as pulling wings off flies.
By the way there isn’t a single person I have ever met who needed to brag about how much money he had that wasn’t all buckle and no hat.
Stand still so I can pull your wings off.
Again I will give you the $3 bucks if you need it.
I don’t brag about anything you swamp creature.
And I despise no one, accept so called experts that can’t make real money investing or speculating but have to sell advice to others showing them how to.
JTL:
Is this Birdman back? It’s been a long time since someone would attack and attack but was totally delusional at the same time. And then would whine about how he was being attacked?
I quote:
On December 5, 2016 at 12:28 pm,
James the lesser says:
First of all I could probably buy and sell you 10 times over you swamp creature.
How is that not bragging?
GO TAKE A GOOD LONG LOOK HOW THIS WHOLE THREAD GOT STARTED.
I COMMENTED ON THE ITALIAN REFERENDUM, HOW IT HAD NO IMPACT ON GOLD, AND HOW THOSE PEOPLE WHO WERE USING IT TO PUMP GOLD WERE WRONG AS USUAL.
I MENTIONED BO NAMES, PERSINALLY ATTACKED NO ONE.
WHAT WAS THE IMMEDIATE RESPONSE BY MATTHEW.
A PERSONAL ATTACK, AS USUAL.
THIS IS HIS MO
TIME AND TIME AGAIN.
YOU SHOULD BE BANNED FROM THIS SITE.
Names or not, your post was absolutely a personal attack you whiny little baby. Your sole purpose here is to bitch and throw a fit yet it is always you that cries when you get a response that you should be smart enough to expect.
How delusional are you???You called someone out specifically and referred to them as a ‘swamp creature’ but you claim there was no personal attack!!!You speak of integrity.Have some.You said you were done posting.have the integrity to do what you said.
Birdman/JTL:
I quote:
On December 5, 2016 at 2:11 pm,
James the lesser says:
GO TAKE A GOOD LONG LOOK HOW THIS WHOLE THREAD GOT STARTED.
I COMMENTED ON THE ITALIAN REFERENDUM, HOW IT HAD NO IMPACT ON GOLD, AND HOW THOSE PEOPLE WHO WERE USING IT TO PUMP GOLD WERE WRONG AS USUAL.
I MENTIONED BO NAMES, PERSONALLY ATTACKED NO ONE.
On December 5, 2016 at 9:08 am,
James the lesser says:
Mr Moriarty, you swamp creature – WHERE WILL GOLD BE END OF JUNE 2017?
By the way Birdman/JTL that’s three lies I have caught you in today alone. And as you clearly missed just as you pretty much miss everything else, there hasn’t been a word on my site or out of my mouth about Italy and gold.
My post was nothing but a following up to what I mentioned before the Italian Referendum took place. I stated it was BS and was just another false narrative by entities that have a vested interest in pumping the precious metals.
This proved to be 100% correct.
The tone of the comment was not whining or crying. It was simply stating fact.
You on the other hand immediately came after me with a personal attack, it was you who was whiny and sour grapes.
If someone doesn’t agree with you that is no reason to personally attack them.
if you have no reason to read my comments don’t.
If they do not apply to you, offer you no value, or you feel are whiny and crying,
why do you bother to read them or even respond.
There are other people on this site that value the comments.
Why don’t you simply ignore them?
Here’s how you wrapped-up your first comment today:
“Now for any of you swamp creatures, there’s 1 or 2 on this site how bout you start putting your money where your mouth is?
Mr Moriarty, you swamp creature – WHERE WILL GOLD BE END OF JUNE 2017?”
———end————-
You’re an imbecile as well as a real POS if you think that is making it personal. If you can’t handle a rebuttal without your usual crying like a baby, you better come up with a different approach. That’s not too cryptic for you, is it?
WRONG AGAIN MATTHEW.
I started out a few weeks ago saying I was going to “drain the swamp”
I NEVER CALLED ANYONE A SWAMP CREATURE UNTIL I WAS PERSONALLY ATTACKED BY YOU AMD MR. MORIARTY.
I SEEM TO RECALL SOMEONE FIRST CZLLING ME A POLLYWOG, DESPICLE, AND MANY OTHER PERSONAL ATTACKS.
If you aren’t knowledgeable regarding context and grammar let me explain it to you…
Draining the swamp is a process.
Being called names by you and mr Moriarty are personal attacks
Birdman/JTL:
There is an old phrase you either never learned or have simply forgotten.
People in glass houses should throw stones.
If you attack me, you can count on a counter attack.
shouldn’t
How’s the weather today? Cloudy with the chance of storms??? Time to lighten up one and all. Can one of you guys do something useful instead of fighting and tell me how the hell to make some loot? Time to load up on GDX, GDXJ, SIL and SILJ?
Nick:
I’ll repeat just for you. Gold is cheap. Silver is cheap, platinum is cheap and the dollar is expensive. You can take that to the bank
I agree with Nick. You guys who just sit on these blog/chat forums baiting each other with insults are focusing your energy towards the wrong target. We are all responsible for our own decisions. Time a few of us stand up and take ownership. Going off on wild tangents tryin to come up with the best smart ass one liner is a futile exercise really. Its ok to not get on with everyone in life, indeed that is inevitable. I think everyone here who posts is no better or worse than the rest of us. Debates and disagreements are healthy, derogatory personal insults are not
Cory!
Italy did not vote to leave the EU.
It voted against consitutional changes…..This might eventually lead to leaving the Euro, but not necessarily the EU, common market.