Entries Tagged as 'Gold Silver'

Listen To Jim Sinclair

Gold And Silver Weekly Report

Gold traded this week in almost a 100-point range and was basically flat for the week. The weekly chart gave a SELL signal at $1355.09 last week, soi you would have missed the volatility this week. One positive, we’ve retraced 50% of the rise off the 9-week rise from $1183.

Silver’s monthly chart turned to a BUY at $24.35, but the weekly flashed a SELL last week at $22.46. We have retraced 50% of the rise from $18,25 to $24.91.

A move through $1400 in Gold and $25 in Silver would be a turning point.

Remember, Syria which caused Gold and Oil to move higher still isn’t settled, and we have lots of news coming about US government debt, and QE to infinity is still in effect.

$50 Silver?

Article in August 11, 2013 Arabianmoney says we are have the “Greatest potential ever for a massive short squeeze in silver.”

The last time there were over 45,000 shorts and speculators were extremely bearish on the white metal there was in August 2005. A short-covering rally ensued and drove prices of Silver up 124%.

Here we are again with 46,200 shorts. To cover enough to get back to the mean would require the purchase of 24,700 contracts or “123.7m ounces of silver, the equivalent of 3/8ths of SLV’s entire holdings today (SLV is the silver exchange traded product)!”

The Precious Metals and Oil Look Higher

UPDATE: Silver’s high today was 24.42. We now have a monthly BUY signal!

On July 17th 2013 I wrote:

Both Gold and Silver briefly made a new weekly high above the previous three weeks highs. In the case of Gold the high in the previous three weeks was $1301.2. Today the high is $1301.9. With Silver the high of the previous three weeks was $20.211. The high today is $20.32. That may be significant!

Gold finished this week at $1396.30 and Silver finished at $24.05. What now? Gold looks to reach $1500 to $1550 and Silver looks like $27 to $32.

The monthly picture looks like it could change to bullish soon. The last signal was a SELL at $1672.40. Gold would have to reach $1487 in August or $1416.87 $1427.85 in September. Silver is very close to a BUY signal. It needs to reach above $24.35 this month. Next month we would have a a BUY signal at $22.92. Silver’s last SELL signal came at $30.64. I use Market Club’s charts for the generation of BUY and SELL signals.

BTW, I just took a look at Crude Oil and it’s within a eyelash of going vertical. A move above $108.93 could send oil to $124 (see chart)

Excellently Done!

Hi Yo Silver!

Andy Hoffman writes today about the increasing cost of mining silver. He believes the cost is approaching $30 per ounce. That means that silver mining companies are likely to report losses from operations and thus shut down production.

In my view, the upcoming collapse of GLOBAL gold and silver production could be as big of a story – or bigger – the simultaneous demand explosion that MUST follow such a MASSIVE, worldwide fiat Ponzi scheme. In the case of silver, it is already in EXTREMELY short supply; which is why the U.S. Mint was forced to shut down for 12 days earlier this year, and why prices for PHYSICAL bullion – and “junk” silver, for that matter – remained elevated throughout this summer’s PAPER PM smash.

He concludes by saying “When “the Big One” hits – and supply essentially vanishes – the great majority of the world’s population (as in 98 %+) will be kicking themselves for not PROTECTING themselves when they had the chance. Of that, I am 100% sure!”

Then there’s this:
“5 days ago it was reported that on the Shanghai Exchange 1098 Metric Tons of Gold have already been taken for physical delivery year to date, and by year end, the Chinese market will have taken physical delivery of approximately the same amount of Gold as the entire world’s mine production for the year. ”

My thought: That combined with the world awash in fiat paper, it could be quite a show!

Are We A Heartbeat Away From Lehman Redux?

Jim Willie says there’s an overnight scramble for cash at Deutche Bank in Germany and failure would be Lehman bankruptcy times 5.

The important thing to keep in mind about Deutche Bank is that it won’t go down alone if it goes down at all. If it fails, it will take along with it 3,4,5,6 or 10, or 15 other banks! It will be 1 or 2 quickly, then a 3rd and 4th a few weeks later, another, then before you know it, all of Italy and their major banks would be kaput.

He goes on to say,

A bank failure contagion, that’s whats going to push gold way over $2,000/oz again.
Silver is going to be moving over $100 and gold is going over $5,000, I’m as certain of it as I am that the sun will rise in the east in the morning come January.

Big Gold News!

Max Keiser talks to Alasdair Macleod about the 1300 tonnes of gold that went missing from Bank of England in 2013 (starts at 13:00 min)

Did Gold & Silver Just Give Buy Signal?

Both Gold and Silver briefly made a new weekly high above the previous three weeks highs. In the case of Gold the high in the previous three weeks was $1301.2. Today the high is $1301.9. With Silver the high of the previous three weeks was $20.211. The high today is $20.32. That may be significant!

However, we are a ways away from turning monthly bullish!

But, There’s No Inflation!

That’s what the government leaders keep telling us. Zero Hedge and the grocery shoppers know differently. Hat Tip to Zero Hedge for cataloging these increases since 2002:

· Eggs: 73%

· Coffee: 90%

· Peanut Butter: 40%

· Milk: 26%

· A Loaf Of White Bread: 39%

· Spaghetti And Macaroni: 44%

· Orange Juice: 46%

· Red Delicious Apples: 43%

· Beer: 25%

· Wine: 60%

· Electricity: 42%

· Margarine: 143%

· Tomatoes: 22%

· Turkey: 56%

· Ground Beef: 61%

· Chocolate Chip Cookies: 39%

The damage doesn’t stop there. The cost of everything from healthcare to college tuition is soaring. Heck, even the new Twinkies are smaller, but cost the same (a “hidden” price increase).

Yeah, Ice cream packaging is smaller. A real half-gallon doesn’t exist anymore. Oil is now above $105 so our gasoline will go over $4.00. Wait until health premiums are announced.

In the meantime, GDP is barely positive using the government inflation numbers. Using real inflation, we’d see negative growth.

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