Gold continuing its move up to resistance… How far will it go?
With gold continuing to move up today we have Rick Ackerman share his technical outlook for the metal. Rick is quite bullish on the moves he has already seen today and has some higher targets. We also look at the US equity markets and Rick’s technicals telling him they should head higher as well. To wrap us up Rick has a comment on a statement made by the London Police Chief in the wake of the recent terrorist attacks.
Click download link to listen on this device: Download Show
Click here to visit Rick’s website for more technical comments.
Hitler never said that. It was however said of the attack on Pearl Harbor.
I thought that was DEC 7….Pearl Harbor , copy cat Hitler….. 🙂
FDR
Sick part is FDR new about the Pearl attack because he worked tirelessly to make it happen by provoking and tempting the Japanese every way he could.
Have to agree with you ………
Pilgrim society member…….part of the plan………
+1 Wayne
There’s real history, and there’s what we’re taught in schools and the media.
+1 Wayne
There’s real history, and there’s what we’re taught in school and the corporate media.
Maybe you already have read it, but Herbert O Yardlys book, “The Education of a Poker Player” has some neat insight concerning the Japanese of the time.
He busted the codes long before Pearl happened.
Excellent poker book too.
On occasion he finally gets some credit, just took 50 or 60 years.
https://www.youtube.com/watch?v=3VqQAf74fsE
FDR himself
interesting, wonder how it got attributed to d day.
December 7, 1941
“A Date Which Will Live in Infamy”: FDR Asks for a Declaration of War. The Japanese attack on Pearl Harbor, Hawaii, on December 7, 1941
Makes ya wonder just how accurate any of our recorded history is.
Remember they do not teach HISTORY anymore………
I love history……Minored in history in college……easy A course.
As Kenneth Williams, playing Julius Caesar being murdered in ‘Carry On Cleo’, said:
“Infamy! Infamy! They all have it in for me!”.
I assume we are all adults here and know that FDR said Dec,7th, 1941 was a date which will live in infamy. If Hitler had had a sense of humor he could have said the same about 6-6-44 I just made it up that he said it.
Off Topic: Forgive me if this annoys you
I want to discuss terrorism. This probably is not the best forum, but at least there are intelligent people who watch this site.
England admitted they have 20,000 suspected jihadi terrorists in the UK.
In that they are hopelessly underestimating the number. Known to have trained in warfare or having actually fought for ISIS are 35,000-40,000 ; with sympathizers over 500,000.
UK will lose to Islam. The only question is how soon.
But you say, that is an ocean away in Europe; no worries in the US.
IGNORANCE IS BLISS.
Islamic jihadis are training in the U.S.
It will be WORSE in the U.S., because here in the U.S. there is much easier access to arms and explosives.
There are in EXCESS of a dozen training camps with firing ranges in the US which are currently being used to train Islamic terrorists.
I will here identify one such jihadi training center, which is about the furthest in location from me.
Founded by a radical Sufi from Pakistan named, Mubarak Ali Gilani, in Delaware County, New York there is a training camp that trains about 3,000 jihadis per year.
The camp and firing range is near Hancock, N.Y. and is known locally as Islamberg.
Strangely, unlike Shariah law, which treats women as second-class citizens, this camp trains both men and women in almost equal numbers.
The Islamic teaching emanates from this cleric to 22 other centers or branches in the US. There are at least another dozen similar organizations, some will act in coordination when necessary; others remain rigidly independent from central organization (especially those in the midwest) but make no mistake that they will help each other to produce an American caliphate.
I invite you to google the information in this post if you do not believe me. I deliberately posted specific information which is the most googleable.
Wahhabi muslims are using U.S. jails to recruit as many into their sect of Islam as possible. They provide support for people leaving jail to entice some of these into jihadi groups.
Please WAKE UP AMERICA, before it is too late.
cfs….post the ted butler article……please, thank you……..
All part of the plan CFS, time for Christianity to move to the back of the bus.
Right or wrong, just sayin.
Check what happened to the Christians in the 30s-40s in eruope. This is nothing new.
Christians are clueless, they continue to support Israel, stupidity plain ol dies off, evolution and all, deny it or not.
Mohamed is now the most popular birth name in the UK I hear.
The Islamic immigrants to europe are saying whites have 1 maybe 2 kids with 1 wife, the Moslems say they have 7-8 kids and many wives for lots and lots of kids.
Check the pics of europeans welcoming immigrants, Islam wins.
Thru the birth rate, should only take about 30 years.
If this is true, then it is because it is being permitted.
By who, and why, CFS?
Islamic terrorism. Is a HOAX. The truth only takes 3 sentences or so to make a point. When someone has to write 3 paragraphs, you know it’s b.s
Here’s Stewart Thompson to add to Rick’s bullishness on gold: http://www.321gold.com/editorials/thomson_s/thomson_s_060617.html
I’m not a fan of Stewart Thomson – I find him arrogant, and a wholly inaccurate PM analyst – I consider him one of the worst. Let’s allow his wayward predictions speak for themselves:
“In late 2013, I predicted the Fed would taper all the way to zero in 2014, and suggested that taper would turn the Dow into a “wet noodle”, while creating a rally in gold prices. That’s the opposite of what most analysts thought would happen in 2014, and it’s exactly what has transpired!” -Stewart Thomson Oct 2014
“Gold Set to Surge, Silver Looks Even Better! I think gold could charge beyond $1325, and on towards the $1347 and $1390 area highs. Silver, which is perhaps better referred to as “gold on steroids”, looks even better.” -Stewart Thomson August 2014
“…any gold-negative news is not likely to move the price of gold lower than $1275. The upside numbers of importance are $1325, $1347, and $1392.” -Stewart Thomson July 2014
“Gold: “Let the Good Times Roll!” During the first six months of 2014, there have been quite a number of events that are positive for the gold market, and there was a big one yesterday. Gold staged a nice breakout from a small bullish wedge pattern last night, and the entire chart has a very bullish look. Why is that? Well, the month of August can see Indian citizens buy enormous amounts of gold, as they begin preparations for the wedding season and Diwali. Expectations of those liquidity flows into gold are likely why the gold chart looks so bullish now.” -Stewart Thomson July 2014
“Gold: The Worst Is Over, What’s Next? The time to be heavily invested in the precious metals sector is not later. It’s now.” -Stewart Thomson June 2014
“While the short and intermediate trends for gold are greatly influenced by Fed policy, events in China and India are now the key drivers of gold’s primary trend…. and sends gold surging towards my target of $1432.” -Stewart Thomson July 2014
“A persuasive argument can be made that gold staged an upside breakout last night. The range of $1305 – $1326 was decisively penetrated to the upside, and gold traded as high as $1335. Monday’s close was critical, because it was not just the end of the month, but the end of the quarter. Junior gold stocks staged a spectacular ending to the first half of the year, on massive volume. The chart suggests the second half of 2014 will be even better!” -Stewart Thomson July 2014
“Gold Stock ETFs: Outrageously Bullish! If I’m correct, the “bare minimum” arithmetic target is: $2663. I think my target price is absolutely justified by the global fundamental and geopolitical price drivers.” -Stewart Thomson June 2014
“Technically, all sectors of the gold market look bullish. Regardless of whether a daily chart, weekly chart, or a monthly chart is used, all technical lights are green. The weekly charts suggest that investors who are waiting for gold to bottom in July are at risk of missing an enormous rally that appears to already be underway.” -Stewart Thomson June 2014
“I’ve outlined a rough scenario for summer rally enthusiasts on the daily silver chart below. I’ve suggested silver could move up to about $22. Much higher prices are possible.” -Stewart Thomson June 2014
“Gold now seems to be forming an inverse head and shoulders bottom pattern, and that’s good news for bullish investors.” -Stewart Thomson April 2014
“Indian National Election is the Most Bullish Event for Gold in Past 100 Years!” -Stewart Thomson April 2014
“Gold market technicians should be open to the possibility that in the bigger picture, this rally has only just started.
Many of PM investors are likely to sell on a rally back to the $1500 area, to cut the huge losses they sustained in 2013.” -Stewart Thomson February 2014
Bob M is more accurate than Stewart when he says “nobody knows anything”
Hi b……..check out Ted Butler article on the cftc……..
this is going to change all the charts…………imo
Always good to hold people accountable, b, and I like this format.
That said, I do like to check in with Stew’s views. I’ve been wrong plenty myself, so I don’t hold it against him. It’s newbies that have to be careful with gurus. I know, I got stung myself.
Rick’s comments about guns were spot on. An armed society isn’t perfect, just the best we can expect. Here a funny 25 second video to illustrate my point:
https://www.youtube.com/watch?v=uaZMQ_B5DA4
Well, we shall see if it does anything Jerry.
The thing is, PM manipulation has been legal all along.
Which is why I believe they ignore guys like Ted.
Maybe they wanna shut someone up, pay another fine and move on.
Maybe enough has been accumilated they can let the price rise a bit, maybe it has something to do with cryptos, might have to do with China trading phyzz.
We get to sit back and watch I guess.
A little jail time……..should wake up some people…….not to big to jail next stop….
As Ted said, …..this is after decades…….New sheriff in town ….
The problem in the past has been the DOJ……
Bart Chilton was a stooge……..
He was doing what he was told to do.
Clinton not going to jail, why/how anyone else?
Would have to be a sacrifice, and dont forget, totally legal to settle in cash.
Manipulation is legal every which way imaginable, there never was a story, just guys like Ted selling subs.
Not sure I agree with the manipulation angle ….and the normal average American with money would not invest , if they truly believed there was manipulation…..and thought it was legal………..jmo
CLInton,…..not going to Jail , Yet…….she was protected by the DOJ….and all her paid off friends…….and COMEY fits that catagory.
HOLTER fits that catagory……..Legal scum workers in action
King Louie thought he was above the law……along with Marie…….let them eat cake, will not settle the crowd………….. 🙂
I think you are not correct on Ted…..this time.. I think he has finally hit on something of substance, kind of like a squirrel finding a nut…..if anyone has been following the CFTC for any length of time….finally a new sheriff has arrived…….jmo
TURD F>>>>>>>>should be all over this one………………..
If the “normal average american” understood the banking system there would be a revolution…or so Ive read. Much less invest.
Its ALL manipulated, everything, there is only communism in the west, its going to come down, just as it did in the ussr.
All the signs are happening, social programs, military adventurism..its just a matter of time. Same process as every other empire in history, you study history you should see whats coming without much difficulty. Step by step
Or, maybe its different this time? maybe we should try the same thing again? lol
Ditto on the revolution….and banking……been sharing the message for 35 yrs……man do we have some slow learners……….. 🙂
The Ted Butler article was interesting, but I find his speculation a bit naive. Maybe intentionally so.
Years ago, when I followed that side of things more, I remember how jazzed he was about both Bart Chilton and Gary Gensler.
If there is the kind of silver manipulation he alleges, I would think it is part of a far bigger game, and no CFTC boss is going to be acting solely on his own authority. IF the new guy is honest and is going to do something about the alleged manipulation, then I’d think it is because he was put there to do so.
In that scenario, maybe it’s time for those responsible to benefit from a bull in the precious metals rather than a bear. I assume the game of big-time manipulators is to stampede the herd from one extreme to the other.
I don’t put much weight on these kinds of things. I prefer the charts. But given the current position of the precious metals markets, it is an interesting sign.
Did BART ever take anyone to court?
Nothing exciting till silver breaks above $35………
thanks for all the feed back……..
BIx Weir out with his comments……..this is a FIRST in 35 yrs..of such an action.
Might be time for a CLASS ACTION…….
I think James the Long?……pointed out this several years ago…….
THE MINERS need to join in this one……….such as First Majestic pres said…….
GLD – Is It Different This Time?
by @Goldfinger on June 6, 2017
gold is never different, the currency units change tho.
I know you knew that.
Yes, I’m aware, but so is Goldfinger. His title is a bit tongue-in-cheek.
I wouldn’t buy either but he ignored the far left side of his chart. Buying that first poke through the BB would have worked out quite well — for more than just a short term trade.
The oscillators sure look strong:
http://stockcharts.com/h-sc/ui?s=GLD&p=D&yr=0&mn=7&dy=22&id=p84265723825
Agreed. Stronger than I was anticipating for Gold in June.
The silver – gold ratio is warning that this move up might not be the start of something bigger. I think the bullish confirmation will come soon, but until then, watch out…
http://stockcharts.com/h-sc/ui?s=SLV%3AGLD&p=W&yr=3&mn=0&dy=0&id=p10598635739
Even when priced in gold (GLD), GDXJ looks very promising:
http://stockcharts.com/h-sc/ui?s=GDXJ%3AGLD&p=D&yr=0&mn=11&dy=0&id=p77746944061&a=510651811
IMPACT Silver divests non-active Zacatecas assets
MAtthew
You seem to be knowledgeable on the fundamentals of IPT, so I will ask you (chime in EX,, please).
Was not the Zacatecas asset the really high grade silver ore that gave IPT an element of “Explorer” to its brand? If so, then IPT is probably, now, just another Silver producer based in Mexico?
Brian
Brian, Zacatecas was never my reason for owning IPT. It wasn’t the company’s focus either – per the press release: “IMPACT has carried out only minimal work in Zacatecas since 2009.” In fact, the property was optioned to Defiance Silver in 2011 and Defiance gave it back in 2013. You can read about all that here:
http://www.impactsilver.com/s/Other_Projects_Partnerships.asp
It does seem like they could have asked more for it and still delivered a good deal but I’m hardly the expert on such deals and I do like that they took shares instead of cash.
Overall, the deal nets a thumbs-up from me.
Hey Brian & Matthew – I’m late to this discussion, but the Zacatecas exploration properties were not their main exploration focus by any stretch. What is interesting is that now they have access to Endeavour Silver through the payment in their shares, so they may end up getting more than the $500,000 if you believe (EXK) shares have room to go up from here (I sure believe their shares will be higher, which will improve the rewards of this divestment as time progresses).
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(EXK) (EDR) Endeavour Silver Acquires Additional Properties in Zacatecas
June 6, 2017
“Endeavour Silver Corp. announces it has acquired 100% interests in two small but prospective mineral property groups, Calicanto and Veta Grande, located in the historic silver mining district of Zacatecas in Zacatecas state, Mexico.”
*Veta Grande Properties
The Veta Grande properties were purchased from $IPT $ISVLF IMPACT Silver Corp. for US$500,000 by issuing 154,321 $EXK Endeavour common shares at US$3.24 per share. They cover 152 hectares over six known, silver-gold-lead-zinc veins plus 14 hectares of surface lands covering the dormant Santa Gabriela 200 tpd processing plant and tailings facility.
The properties are located in the vicinity of one of the largest veins in the Zacatecas district, the Veta Grande vein, and cover the Nueva Granada splays to the Veta Grande vein and several other subparallel veins. The properties saw historic, small scale, high-grade production as shown by old mine workings and dumps. Access to the old workings is limited and many are now flooded, but historic sampling of dumps and trenches returned values up to 1,070 gpt silver with significant lead and zinc values.
The Santa Gabriela processing plant is located adjacent to Endeavour’s La Plata plant five km north of the city of Zacatecas and it last operated between 2006 and 2009 as a 200 tpd flotation toll mill. The plant has been dormant since that time and none of the concessions have seen modern exploration.”
(IPT) (ISVLF) IMPACT Silver Announces First Quarter 2017 Financial and Production Results
May 29, 2017
Fred Davidson, President and CEO, stated, “We started 2017 with a clean balance sheet and no debt along with news that IMPACT was named to the 2017 TSX Venture 50. Operationally, revenues increased by 22% to $4.6 million in Q1-2017 from $3.8 million. The Company continues to improve its mine operating earnings, achieving income of $0.5 million in Q1-2017 compared to $0.3 million in Q1-2016. Earnings before interest, taxes, depreciation and amortization (EBITDA) improved to $0.3 million in Q1-2017 from $0.2 million in Q1-2016. While we cannot control the price of silver, we are committed to maximizing efficiencies and cost control through managing our operations in a disciplined manner. Building on a successful 2016, we have ongoing exploration plans at high potential targets and continue to evaluate strategic transactions to continue growing value for our shareholders.”
** #Exploration
The Company will continue exploration with the goal of putting some of the 4,800+ compiled old mine workings in the Zacualpan and Capire districts on a faster track to potential production and build mineral inventories for mining.
Fieldwork in the form of detailed geological mapping and rock sampling in old mine workings was mainly focused on larger and higher grade target areas at Guadalupe South, Alacran North and San Felipe. Utilizing new funds received in Q2-2016, the Company has initiated surface and underground drilling programs to expand resources. Surface drilling is currently in progress at the Cuchara Mine extensions. Drilling will also commence later this year at the San Felipe vein and other prospects, located near the Guadalupe plant access road.
$IPT IMPACT has control of the majority of two entire mineral districts in central Mexico: the Royal Mines of Zacualpan Silver District and the Capire-Mamatla Mineral District adjacent to and south”
“MPACT has carried out only minimal work in Zacatecas since 2009 and management took this opportunity to monetize these non-active assets and allow management to better focus its time on its silver production assets at the Royal Mines of Zacualpan and new ventures.”
It’s the Royal Mines of Zacualpan that makes IPT so interesting to me…
http://www.impactsilver.com/s/Exploration.asp
The last 2 months the PM miners have been grinding down. Recently IPT and PPP last weeks got dumped. The market refuses to believe in this bull and has been crushing it at every turn since Donald Dump and the dung circus came to town. We are knocking at $1300 gold and everyone including the miners are dead bearish. I imagine the miners either drop another %30 soon or rip up %50 by August. It is a nasty Bear-Bull! I won’t be surprised if gold is $960 by August 1st or $1500;()? . This old turkey is gonna get roasted or look smart soon. I think I’ve had more luck fishing in a toilet.
Matt? Your thoughts would be welcome here. I am frustrated and I think that is exactly what this Bear-Bull needs to function.
Months out, I’ve remained confidently very bullish but days to weeks out, I’ve been cautiously optimistic. Today’s action was significant enough to make me less cautious and more optimistic about even the short term. As you stated, the action has been grinding and that has kept most people a little too bearish — which is perfect bull market behavior.
I don’t know what else to say except that I am very heavily committed and not worried.
I think the week will finish on a high note.
http://stockcharts.com/h-sc/ui?s=GDX&p=W&yr=3&mn=9&dy=0&id=p99332812107&a=522809896
The seasonally most bullish time of year for the PM miners is Aug-Oct, so I’ve been adding during the grind down the last few weeks and will continue to do so in any more Summer Doldrums weakness to get into position before the Fall rally.
BUT, like the summer doldrums, seasonal expectations are often wrong or just somewhat right. Take a look at August through October for the last several years, including last year:
http://stockcharts.com/h-sc/ui?s=GDXJ&p=W&yr=6&mn=3&dy=22&id=p98171745240
This year, I think the action will be strong through most of the fall.
Agreed Matthew. The Royal mines of Zacualpan are the bigger exploration prize for IPT.
Royal Mines of Zacualpan Mexico
500 Years of Mining History
Brian V. Hall Behroz Behnam Karen J. Fox
A GIS Makeover of a Classic Silver District;
Real de Minas de Zacualpan, Mexico
http://www.impactsilver.com/i/pdf/20121212_MEG_Short_Course_Presentation_Web.pdf
rye patch gold Halted
It was just the long-awaited capital raise from RyePatch that Inkakola has been droning on and on about for months. Now we can focus on how they do ramping up into full production during the balance of the year.
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Rye Patch Gold Announces Bought Deal Offering of $10M
by @newswire on June 6, 2017
https://ceo.ca/@newswire/rye-patch-gold-announces-bought-deal-offering-of-10m
Thanks Rick for the comments about CC. You are so right. We would shoot them dead.
What Trump Doesn’t Understand About Gun Control in Great Britain
https://www.theatlantic.com/international/archive/2017/06/london-bridge/529107/
FWIW London attacks smacks of desperation, knives, a van? In the US a similiar attack with freely available assault weapons the death toll would be 200 plus easily
Too true AJ
Sorry Rick, but if every Tom, Dick and Harry was armed it would have been a lot worse. How would you even pick a target in that crazey mass of panic stricken people.
Nonsense. Have you ever noticed that these events do not happen where most people are armed? The stricter the guns laws, the more violence. Just look at Chicago.
There are only two kinds of lefties, those who con and those who get conned. This is why history, facts , and logic are never part of their arguments.
I hear 95 Americans shoot each other every day. That kinds of puts this whole terror attack into perspective.
And what you don’t hear from the agenda-driven media is how many of those people thoroughly deserved to be shot.
Violent crime jumps 27 per cent in new figures released by the Office for National Statistics
New figures show that the number of murders and manslaughter deaths increased by 14 per cent last year bringing the annual total to 574, or 11 deaths a week…
http://www.telegraph.co.uk/news/uknews/crime/12112024/Violent-crime-jumps-27-in-new-figures.html
Gun Control Fails: What Happened in England, Ireland, and Canada
Numerous countries with a Human Development Index values (according to the UN) comparable to several OECD members have homicide rates that are similar too, or much higher than, the US. Moreover, many individual states in the US have homicide rates that are very low and gun-ownership rates that are very high. (Read that as many times as it takes to get it to sink in.)
https://mises.org/blog/gun-control-fails-what-happened-england-ireland-and-canada
Wyoming: ‘More Guns Per Capita Than Any State,’ Below Average Gun-Related Murders
Happy D-Day! My Uncle Roy of the 1st Army wdent ashore with the British 50th on Gold Beach. Though he was a Texan he commanded an Ohio national guar unit that fired a 155mm gun mounted on a tank. As Hitler said of this day, “June 6th, 1944….a date which will live in infamy!”