Gold World News Flash |
- It?s Time to Buy Gold/Silver, Hide It, and Wait For the Smoke to Clear! Here?s Why
- Silver Will Go to $50 and Then Explode Dramatically Higher! Here?s Why
- John Williams - Accelerating Great Collapse & Hyperinflation
- Gold Seeker Closing Report: Gold and Silver Gain Almost 3% and 4%
- Bob Chapman Says It’s Just A Matter of Time For Gold and Silver – 01-25-2012
- There Will Be A Run On Gold Stored In The US
- Doug Casey on the Collapse of the Euro and the EU
- Gold for Iran Oil? Govt Declines Any Comment
- Harvey Organ's Daily Gold & Silver Report
- Gold Range is Largest Since December 14th
- Fed to Keep Rates Freakishly Low Thru 2014
- Bernanke Goes All In
- Return of the Gold Commission? Would it Raise the Gold Price? Confiscation?
- India mum on possible use of gold to pay for Iranian oil
- 'Mania' in Junior Mining Stocks Predicted: Fayyaz Alimohamed
- And The Winner Is...Gold
- Fed Announces Record Low Interest Rates Until Late 2014 and Commodities Soar
- David Morgan: SILVER & GOLD CURRENCY & MINERS
- Eric Sprott - Aggressive Chinese Buying Will Spike Gold Price
- Fed To Markets: Buy Gold & Silver
- Mainstream Entities Will Now Enter Gold Market
- Gold and CDNX Breakout Attempts
- Gold & Near Term
- In The News Today
- Jim Sinclair - Mainstream Entities Will Now Enter Gold Market
- Egon von Greyerz: Gold & Silver to Accelerate Higher
- The Gold Price Shot up to $1,712.85 in One Hour, Next Big Resistance is $1,805
- The Coming Dollar Downleg And Gold Upleg
- A Closer Look At the Gold Chart For a Break and Run Possibility
| It?s Time to Buy Gold/Silver, Hide It, and Wait For the Smoke to Clear! Here?s Why Posted: 25 Jan 2012 04:31 PM PST There has been so much talk about gold and so little understanding of the reality behind the move in the price of the yellow metal over the last 90 plus days that I think it’s necessary to separate the wheat from the chaff. I want to discuss what gold has done, where it’s at now, and then end with where it’s going from here and postulate why it’s going to do what it will do. Words: 1083 [INDENT]*Lorimer Wilson, editor of www.FinancialArticleSummariesToday.com (A site for sore eyes and inquisitive minds) and www.munKNEE.com (Your Key to Making Money!) has edited ([ ]), abridged (…) and reformatted (some sub-titles and bold/italics emphases) the article below for the sake of clarity and brevity to ensure a fast and easy read. The article’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article. Please note that this paragraph must be included in any article re-posting to avoid copy...
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| Silver Will Go to $50 and Then Explode Dramatically Higher! Here?s Why Posted: 25 Jan 2012 04:31 PM PST [INDENT] [/INDENT] Note [above]*how the run-up to the blue line is visually similar in both cases. After going through the blue line, price rallied significantly until it peaked at point b (in both cases). It then corrected/consolidated forming a flag/pennant type formation. [Also] note [above]*that in the 70s and in the current chart, price corrected to just above the blue line. It does not mean it cannot still move to the blue line, since, to stay valid, it just needs to stay at or above the blue line…Currently, I do not see any evidence that we will still go lower than the $26 level. The comparison suggests that we should now rally towards point d and eventually go higher than point b ($50). The flag pattern forming currently is significantly bigger (in price movement) relative to that of the 1970s. This is possibly indicating that this fractal pattern is growing significantly, which could mean, going forward, bigger price increases relative to the price increases of t...
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| John Williams - Accelerating Great Collapse & Hyperinflation Posted: 25 Jan 2012 04:29 PM PST  John Williams, of Shadowstats, just issued the following warning and King World News wanted to pass it along to our global readers: "The U.S. economic and systemic-solvency crises of the last five years continue to deteriorate. Yet they remain just the precursors to the coming Great Collapse: a hyperinflationary great depression. The unfolding circumstance will encompass a complete loss in the purchasing power of the U.S. dollar; a collapse in the normal stream of U.S. commercial and economic activity; a collapse in the U.S. financial system, as we know it; and a likely realignment of the U.S. political environment."
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| Gold Seeker Closing Report: Gold and Silver Gain Almost 3% and 4% Posted: 25 Jan 2012 04:03 PM PST Gold climbed $4 to $1670.20 in Asia before it fell back to $1649.05 by about 10AM EST, but it then shot to as high as $1712.92 following the fed's announcement and ended with a gain of 2.68%. Silver fell over 1% to $31.561 by midmorning in New York, but it then soared to as high as $33.40 after the fed's announcement and ended with a gain of 3.97%.
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| Bob Chapman Says It’s Just A Matter of Time For Gold and Silver – 01-25-2012 Posted: 25 Jan 2012 02:35 PM PST from The Financial Survival Network:
Focus is also extremely important. Concentration on a few or even just one project is very important for a junior minor. This will assure that management makes the most of every opportunity. But in the final analysis, the price of gold and silver is going to be the main factor. And here Bob is emphatic that it's going no where but up. 2012 could very well be the most important year in the history of modern finance. As we were talking, gold went up over $30 per ounce on news that the Fed would keep its foot on the monetary gas pedal and that the outlook for the economy was diminished. It is these kinds of economic fundamentals that have shown Bob to be right far more than he's been wrong. Click Here to Listen to the Podcast
This posting includes an audio/video/photo media file: Download Now |
| There Will Be A Run On Gold Stored In The US Posted: 25 Jan 2012 02:35 PM PST Jim Sinclair's Mineset Dear Friends, Today's developments are watershed events that are discussed in the following interview with Eric King of www.KingWorldNews.com. If you have the time please listen to what has happened, and what will occur. Respectfully, Jim Click here to listen to the full audio interview on www.KingWorldNews.com... Jim Sinclair - Mainstream Entities Will Now Enter Gold Market With gold and silver exploding to the upside on the Fed announcement, today King World News interviewed legendary Jim Sinclair, to get his take on where things are headed. Sinclair told KWN he now expects mainstream entities to enter the gold market. Here is what Sinclair had to say: "Today is an important day. There are many days we talk but this is a mile-marker. What the Fed did today is they turned on the light of what will be QE to infinity. Today the light went on with regards to the intentions of the Fed. They did that for very specific ...
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| Doug Casey on the Collapse of the Euro and the EU Posted: 25 Jan 2012 02:32 PM PST from CaseyResearch.com: (Interviewed by Louis James, Editor, International Speculator)
Doug: In brief, the answers are "yes," then "no" – and a "good riddance" to both the Eurozone and the euro. But most people think the old order should be maintained at almost any cost. That would include George Soros, who recently penned an article called Does the Euro Have a Future? Now, I don't normally look to Soros for economic commentary, despite the fact that he's one of the shrewdest and most successful speculators in the world. He does, however, represent the way the Davos people, Eurocrats, and the ruling classes in general think. But just because he's made a lot of money doesn't make him an expert in economics, any more than financial success is proof that Ted Turner, Bill Gates or Warren Buffet know anything about economics. They're all idiot savants, a bit like Dustin Hoffman's character in Rain Man. But that's another subject. Soros writes: "The political will to create a common European treasury was absent in the first place, and since the time the euro was created the political cohesion of the European Union has greatly deteriorated." He's absolutely right about that and goes on to say that to create a common European treasury, the EU would have to have the power to tax. So, he's saying that the euro should be preserved, and that to do that, it should be backed by wealth extracted by force from the average person in Europe. But that's the problem with every currency in the world today; they're not backed by a commodity, but only by the ability of government to steal from the people. And the euro doesn't even have that going for it.
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| Gold for Iran Oil? Govt Declines Any Comment Posted: 25 Jan 2012 02:20 PM PST from TimesOfIndia.IndiaTimes.com: NEW DELHI: A reputed Israeli intelligence website has claimed that India is opting for gold to repay crude oil supplies from Iran. Given the US and EU embargo on Iran, payment in hard currency, such as the US dollar or euro, is very difficult; hence, this barter. Read More @ TimesOfIndia.IndiaTimes.com
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| Harvey Organ's Daily Gold & Silver Report Posted: 25 Jan 2012 01:57 PM PST All Eyes Turning to Portugal as Greek Default a Reality/FOMC report: ZIRP until 2014
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| Gold Range is Largest Since December 14th Posted: 25 Jan 2012 01:53 PM PST courtesy of DailyFX.com January 25, 2012 03:25 PM Daily Bars Prepared by Jamie Saettele, CMT Gold roared higher today to eclipse 1700 in its largest 1 day advance since the first trading day of the year. While today’s incredible rally may be exhaustive, attempting to short is not smart as studies show that trends tend to persist until month end. Support is 1693 and 1680. The next potential resistance is from a steep trendline at 1737. Bottom Line – flat...
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| Fed to Keep Rates Freakishly Low Thru 2014 Posted: 25 Jan 2012 01:32 PM PST It looks like I underestimated the Federal Reserve's largess in the New Year when I extended their freakishly low interest rate guarantee by only a year in the chart from this earlier post. Turns out, in their policy statement today, the central bank added a full year-and-a-half to their low-rate pledge, more bad news for conservative savers who were hoping for a little better return on their money after three years of punishment, but great news for owners of precious metals that soared today on the news.
Low or negative real (inflation adjusted) interest rates are about the single best predictor of rising metal prices and it's pretty hard to get a positive inflation adjusted interest rate when you start out with an interest rate of zero. Pimco's Bill Gross seems to think that this amounts to "financial repression", a term that we'll be hearing lots more between now and 2014. Today's action was seen as, effectively, QE2.5, with the groundwork now laid for QE3, QE4, etc. It looks like Richmond Fed President Jeffrey Lacker will be 2012's lone dissenter as he voted against today's action, preferring not to state a timeframe for how long rates are expected to be kept freakishly low. The Fed also lowered their expectations for real U.S. economic growth, from a range of 2.5 to 2.9 percent to just 2.2 to 2.7 percent, and said they expect the jobless rate to end the year at between 8.2 to 8.5 percent, a slight improvement from their prior forecast. Oh yeah. The central bank now has an inflation target too – 2 percent. Just don't pay any attention to food prices that are rising by multiples of that amount because the Fed knows what it's doing here. It's all good (i.e., if you own precious metals).
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| Posted: 25 Jan 2012 01:16 PM PST Bernanke Goes All InCourtesy of Bruce Krasting Well, we got an inflation target from the Fed. Basically, thinking at the Fed has been eliminated. The process has been automated. Bernanke has convinced the Fed board to adopt Core PCE as a determinate of monetary policy. So long as CPCE stays below 2%, Ben is going to have his foot planted on the monetary metal. It's "full speed ahead" according to the Chairman. He's pushed things off until 2014 - a very long time from now. My question: "Why is the Fed using CPCE versus another measure of inflation?" The very good news is that there is answer, and it comes from a very "reliable" source – The Federal Reserve. A detailed analysis on this topic was conveniently made public just a month ago. Alan Detmeister produced a doosey of a report. Ya gotta love the title page:  This beast runs 25 pages, it includes tons of charts and references. It compares the utility of using Core PCE to a dozen other inflation yardsticks. There are easy-to-understand formulas to support the conclusion:  Guess what? Good old Alan makes a compelling argument. Anyone who tries to question the use of CPCE is going to get hit over the head with this report. This is just one of the many charts that prove (according to Detmeister) that CPCE is the only way to go when considering monetary policy: 
There's just one teeny problem with Alan's work. He did all of that comparing and studying using data from pre-2010. Using that information, CPCE lines up very well as a consistent barometer of inflation. But the analysis falls to shit when you look beyond 2009. CPCE took a nose-dive after 2009 (versus CPI and Core CPI):
Information on CPCE and the other measures of inflation is available monthly. There's no reason (that I can think of) why the Fed chose to deliberately omit two years of data that would conflict with the "desired' conclusion. To me, it looks like the authors manipulated the report. I think the Fed made a mistake targeting inflation. It's now stuck with the choice. It can't go back on this without looking awfully stupid. The policy of allowing CPCE to determine the direction of monetary policy will last the until the end of Bernanke's term at the Fed. Then it will be abandoned in favor of more pragmatic approaches to decision making. I think there is enough monetary juice in the global system for there to be a risk of inflation north of 2%. We shall see. I think Bernanke is going to get his balls squeezed. He deserves that fate, he put them in a vise. As of today, he no longer has choices. He's made himself a slave to a single dopey statistic. The markets are the best measures of how people perceived today's announcements from the Fed. The dollar pissed on the Fed in general, the gold market hit Bernanke square in the face with an ingot.
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| Return of the Gold Commission? Would it Raise the Gold Price? Confiscation? Posted: 25 Jan 2012 01:00 PM PST Government and bankers currently believe that gold places to great a restraint on them and their management of the monetary system. They will not accept a lump of metal at a fixed price limiting the money supply. The Gold Standard set a dollar price to gold that did not change from $20 an ounce to $35 an ounce until 1935. It held that level until 1971 when it was raised to $42 an ounce. Since then like the proverbial ostrich with it head in the sand, the gold price has been ignored in 'official' circles.
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| India mum on possible use of gold to pay for Iranian oil Posted: 25 Jan 2012 12:59 PM PST Gold for Iranian Oil? Government Denies Any Comment From The Times of India http://timesofindia.indiatimes.com/business/india-business/Gold-for-Iran... A reputed Israeli intelligence Internet site has claimed that India is opting for gold to repay crude oil supplies from Iran. Given the US and EU embargo on Iran, payment in hard currency, such as the US dollar or euro, is very difficult; hence, this barter. The website, Debkafile, said the transaction will be routed through UCO Bank, the Kolkata-based public sector lender. However, when contacted, a senior bank executive said he had not heard of any plans to settle oil payments in gold. A senior finance ministry official said he did not wish to comment on the issue. When reached over the phone, economic affairs secretary R. Gopalan, who has been leading the talks with Iran, said he was busy in a meeting and did not respond to a text message. The report on the Israeli website coincides with the visit of an Indian official delegation to Tehran last week to find ways to continue the bilateral trade between Iran and India in spite of the sanctions imposed for forcing Iran to forsake its alleged plans for developing nuclear weapons. ... Dispatch continues below ... ADVERTISEMENT Sona Discovers Potential High-Grade Gold Mineralization From a Company Press Release VANCOUVER, British Columbia -- With its latest surface diamond drilling program at its 100-percent-owned, formerly producing Blackdome gold mine in southern British Columbia, Sona Resources Corp. has discovered a potentially high-grade gold-mineralized area, with one hole intersecting 13.6 grams of gold in 1.5 meters of core drilling. "We intersected a promising new mineralized zone, and we feel optimistic about the assay results," says Sona's president and CEO, John P. Thompson. "We have undertaken an aggressive exploration program that has tested a number of target zones. Our discovery of this new gold-bearing structure is significant, and it represents a positive development for the company." Sona aims to bring its permitted Blackdome mill back into production over the next year and a half, at a rate of 200 tonnes per day, with feed from the formerly producing Blackdome mine and the nearby Elizabeth gold deposit property. A positive preliminary economic assessment by Micon International Ltd., based on a gold price of $950 per ounce over eight years, has estimated a cash cost of $208 per tonne milled, or $686 per gold ounce recovered. For the company's complete press release, please visit: http://www.sonaresources.com/_resources/news/SONA_NR18_2011-opt.pdf While the use of gold as currency may help India get around the proposed freeze on Iranian central bank's assets and the oil embargo that the EU foreign ministers have agreed to impose on Monday, any outflow of sovereign gold will not go undetected, bringing in the political consequences of flouting the West-imposed embargo. Keeping the Iran crude oil tap running is crucial for India, which depends on imports to meet around 80% of its oil requirements. Iranian crude accounts for a 12% share in India's total oil imports and any threat to this would have grave implications for the Indian economy. On Wednesday petroleum minister S. Jaipal Reddy made clear India's stance on the sanctions and said that New Delhi would continue to explore "options" for paying oil from Iran. He added that India would abide only by UN sanctions, not those imposed by a group of countries. Officials said another option that the government was looking at was to pay with the Indian currency. (India has had a rupee-rouble agreement with Russia.) According to the mechanism discussed with Iran, the exports and imports will be netted out and India will pay in rupees through Uco Bank. India is a net importer due to crude from Iran. India and Iran have been negotiating a payment settlement mechanism for over a year but a stable tool is yet to emerge. Under the last deal, payments by Indian oil firms were routed through Union Bank of India, which transferred funds to a Turkish bank. Join GATA here: California Investment Conference http://cambridgehouse.com/conference-details/california-investment-confe... Support GATA by purchasing gold and silver commemorative coins: https://www.amsterdamgold.eu/gata/index.asp?BiD=12 Or by purchasing a colorful GATA T-shirt: Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009: http://gata.org/node/wallstreetjournal Or a video disc of GATA's 2005 Gold Rush 21 conference in the Yukon: Help keep GATA going GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: To contribute to GATA, please visit: ADVERTISEMENT Prophecy Coal (TSX: PCY) Wins Positive Feasibility Study Company Press Release VANCOUVER, British Columbia, Canada -- Prophecy Coal Corp. (TSX: PCY, OTCQX: PRPCF, Frankfurt: 1P2) has received a positive feasibility study for the company's 600-megawatt Chandgana Mine-Mouth Power Project in central Mongolia. The report was independently prepared by Ralf Thomsen, project manager at Steag, a German firm specializing in the planning, financing, construction, and operation of highly efficient thermal power plants for fossil fuels. The study covers technical specifications, deployment, and financial analysis of a 4x150-mw thermal power plant to be built adjacent to Prophecy's Chandgana Tal coal deposit, which contains 140 million tonnes of measured coal. Last year the power plant received a construction license and the coal deposit received a mining license. Engineering, procurement, and construction management selection and project financing discussion have begun and are expected to be concluded this year. Construction is planned to start in April 2013, with the first 150-mw unit being commissioned in October 2015 and subsequent units to start in April 2016, October 2016, and April 2017. With proper maintenance the project will have 30 years of commercial operation. For the complete statement from the company, including maps and charts, please visit: http://www.prophecycoal.com/news_2011_jan17_prophecy_receives_power_plan...
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| 'Mania' in Junior Mining Stocks Predicted: Fayyaz Alimohamed Posted: 25 Jan 2012 12:42 PM PST The Gold Report: Fayyaz, in June 2008, using readily available economic data, you wrote that the global economy was on the verge of financial collapse. What do those sources tell you about where the global economy is headed today? Fayyaz Alimohamed: In November 2006, I predicted that the U.S. was headed into a recession. Seven months later, the Bear Stearns funds cracked, beginning the crisis. By June 2008 it was obvious to me that the crisis would escalate into a crash. Today, the U.S. cannot meet its gargantuan future unfunded liabilities. Europe and Japan face debt levels that ensure eventual sovereign debt defaults and declining standards of living. There is potential for all of this unwinding to seriously affect an entire generation. These economies cannot grow their way out of their problems and the cuts needed to balance budgets would create massive social turmoil because the cuts themselves would lead to sharp drops in gross domestic product, creating vicious negative spira...
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| Posted: 25 Jan 2012 12:11 PM PST Gold & Silver big winners on the day (+2.9% & 3.4% on the week now) Year-to-date, Gold is up an impressive 9.4%, significantly outpacing the S&P 500...
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| Fed Announces Record Low Interest Rates Until Late 2014 and Commodities Soar Posted: 25 Jan 2012 12:06 PM PST Presently we notice the European Central Bank is pumping money into the sovereign institutions following the precedent of the U.S. Federal Reserve. Indeed, this move is an admission that debt is being monetized before our very eyes. Once again the lemmings have jumped off a cliff into what they mistakenly thought was a safe haven. Isn't that the name of the game, which is to get you to swing at the wrong pitch at the wrong time? As we write, the Federal Reserve has announced the expansion of the future horizon of record low interest rates from mid 2013 until late 2014. This rally from October 4th, 2011 is continuing surprising many who have been waiting for a pullback to reenter. We have just returned from the Vancouver Resource Investment Conference this morning and had some time catching up with some of our GST select companies who appear to be rapidly progressing. We plan on publishing some interesting reports over the next couple of weeks on some exciting companies. Make sure to subscribe to my free 30 day trial of my premium service by clicking here… Don't miss out! Listen to my recent interview below from the Vancouver Investment Conference this past weekend highlighting a major rally in the uranium and rare earth stocks. I am also very bullish on junior gold explorers who are trading at fractions of what they are really worth.
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| David Morgan: SILVER & GOLD CURRENCY & MINERS Posted: 25 Jan 2012 12:05 PM PST David Morgan predicts the U.S. has another 2 or 3 years before the currency collapses. He also stakes out his predictions on where gold & silver are headed...
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| Eric Sprott - Aggressive Chinese Buying Will Spike Gold Price Posted: 25 Jan 2012 11:59 AM PST "It would appear there will be no restraint whatsoever on the part of the Fed. I expect some serious fireworks to the upside."
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| Fed To Markets: Buy Gold & Silver Posted: 25 Jan 2012 11:47 AM PST Blah blah blah…the economy has been expanding moderately…blah blah boilerplate inanity blatant lie, Committee seeks to foster maximum employment
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| Mainstream Entities Will Now Enter Gold Market Posted: 25 Jan 2012 11:44 AM PST My Dear Friends, Today's developments are watershed events that are discussed in the following interview with Eric King of www.KingWorldNews.com. If you have the time please listen to what has happened, and what will occur. Respectfully, Jim Click here to listen to the full audio interview on www.KingWorldNews.com… Jim Sinclair – Mainstream Entities Continue reading Mainstream Entities Will Now Enter Gold Market
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| Gold and CDNX Breakout Attempts Posted: 25 Jan 2012 11:16 AM PST HOUSTON – On January 18 we penned a piece to let everyone know that the S&P TSX Canadian Venture Exchange Index or CDNX had crossed a potentially bullish technical line in the trading sand – it was then testing the neighborhood just above the popular 50-day moving average. (See article here.) Today, January 25, the CDNX inched across another potentially bullish technical hurdle – it staked out some chart real estate just above a downtrend channel with origins going back to March or April, as shown in the chart below.
Perhaps as interesting as where the CDNX finished the day is how it did so – on pretty good volume of about 158 million shares and hard upon its high for the day. That's not huge volume for the CDNX, but it isn't chopped liver either. Important index moves are more believable when they are on good volume. Continued… The Fed's statement today, following its two-day confab, lit a fire under gold and silver, boosting the buoyancy factor of just about everything mining or commodity related. That makes this $42.00, 2.5% jump an "event spike" and thus suspect very short term, but it won't take all that much follow through to convince off side gold bears to haul to the sidelines and re-think the matter given the violence and amplitude of the Fed-inspired gold surge. For evidence, consider the 2-year gold chart just below, which shows the yellow metal making an attempted breakout of the giant pennant formation we have been talking about for a while.
Gold bears better hope that turns into a false breakout and "bull trap" instead of what it looks like, which is a pretty convincing breakout specimen as of the close in New York today. Gold didn't close hard upon its highs like the CDNX did, but it did close within a USD $5 bill of the high print of $1,713 and change. And on pretty big volume too. Vultures (Got Gold Report Subscribers) note revised stop levels for our Silver and GDXJ trades in the linked charts.
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| Posted: 25 Jan 2012 11:05 AM PST 21.2012 Gold & Near Term Outlook for Gold * Roman Coins for Purchase...
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| Posted: 25 Jan 2012 10:58 AM PST Dear CIGAs, The sunset this evening in Connecticut is also a sunset on any cogent bear argument on gold, even from our guys. $1700 to $2111 is the range for now. The IMF calling on the ECB to expand its balance sheet means QE. What do you think the IMF is about to Continue reading In The News Today
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| Jim Sinclair - Mainstream Entities Will Now Enter Gold Market Posted: 25 Jan 2012 10:57 AM PST The announcement itself is a game-changer because of the way this game is going to change
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| Egon von Greyerz: Gold & Silver to Accelerate Higher Posted: 25 Jan 2012 10:30 AM PST With gold closing above the critical $1,650 level and silver above $30, my view is that we have bottomed and we are on the way to much higher levels. We are seeing a bit of sideways action here, but it's sideways to upward and I think that will continue. I like the pace, the fact that it's not going up too fast, but I think we will see an acceleration to the upside in short order. Words: 924 So said Egon von Greyerz, ([url]www.goldswitzerland.com[/url])*founder and managing partner at Matterhorn Asset Management out of Switzerland*in a recent interview* with King World News. [INDENT]Lorimer Wilson, editor of www.FinancialArticleSummariesToday.com (A site for sore eyes and inquisitive minds) and www.munKNEE.com (Your Key to Making Money!) has edited ([ ]), abridged (…) and reformatted (some sub-titles and bold/italics emphases) the article below for the sake of clarity and brevity to ensure a fast and easy read. The article’s views and conclusions are unaltered and no personal c...
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| The Gold Price Shot up to $1,712.85 in One Hour, Next Big Resistance is $1,805 Posted: 25 Jan 2012 10:06 AM PST Gold Price Close Today : 1699.80 Change : 35.60 or 2.1% Silver Price Close Today : 3309.20 Change : 116.10 cents or 3.6% Gold Silver Ratio Today : 51.366 Change : -0.753 or -1.4% Silver Gold Ratio Today : 0.01947 Change : 0.000281 or 1.5% Platinum Price Close Today : 1577.50 Change : 30.60 or 2.0% Palladium Price Close Today : 693.00 Change : 15.20 or 2.2% S&P 500 : 1,326.06 Change : 11.41 or 0.9% Dow In GOLD$ : $155.16 Change : $ (2.27) or -1.4% Dow in GOLD oz : 7.506 Change : -0.110 or -1.4% Dow in SILVER oz : 385.56 Change : -11.42 or -2.9% Dow Industrial : 12,758.85 Change : 83.10 or 0.7% US Dollar Index : 79.43 Change : -0.442 or -0.6% The GOLD PRICE was fiddling around all day, pitty-patting at $1,660, falling as low at $1,650, and then gold's best friend Ben Bernancubus and His Clowns made their announcement, and the GOLD PRICE shot up to $1,712.85 in about one hour. The SILVER PRICE languished indecisively, lolling around at 3153c then climbing back to 3220c when Ben appeared. In about one hour silver had gained 3.6% for the day, shooting to 3340c and backing off to only a 116.1c rise to 3309.2 at Comex close. Ben has taken SILVER and GOLD nearly to the next level. Now we've reached that $1,705 resistance I have been looking for, and gold surmounted today its 150 DMA ($1,683.03). IF -- if -- gold punches through $1,705, the next big resistance comes in $100 higher at at $1,805. I emphasize "if" because today's news was as good as it gets for gold. This might have been the final surge of the move off of $1,524 in December, and it could correct from here for a week or two. I'm not a fortune-teller -- tomorrow will tell us whether gold will continue rallying or not. Above silver the only barrier left is 3400c -- well, 3570c, but 3400c offers stronger resistance. After that, silver has an easy climb 4000c cents where it fell off the cliff in September. GOLD/SILVER RATIO left a gap down two days ago. Generally, markets trade back up to fill gaps. Be patient, don't let the enthusiasm of a rising market fool you, or the fear of a falling market. I was minding my own business sitting in front of my computer concentrating when all of a sudden my Stupid Meter went off, alarm blaring and honking, Stupid needle pushed way over into the red. Clearly somebody in the world was pushing the safety envelope for Stupid Radiation. Problem is, if the hole in the ozone layer closes up, then the Stupid Rays cannot escape the earth's atmosphere, and every man, woman, and child on earth -- especially those registered to vote -- loses 8 points off their IQ for every day the Stupid Meter reading exceeds 4.8 Central Bankers (standard scientific measurement for stupidity. One Central Banker, abbreviated "CB" = 10 "ERs" or "Elected Representatives" = 100 SCJs or "Supreme Court Justices." One SCJ = 100 MLCs or "Moe-Larry- and-Curlys." One the other hand, in order of ascending stupidity, Ten CBs = 1 SE or "Secretary of Education," and 10 SEs = 1 TSAA or "Transportation Security Administration Agent.") My heart had no more settled down from the scare that Stupid Meter alarm had given me than my Hogwash Detector went crazy. I jumped up and ran outside, because an alarm that strong meant a TIDAL WAVE of hogwash must be about to engulf my house and Tennessee. About that time I realized that everything was all right. Last night we had a State of the Union speech last night and today an FOMC meeting announcement and whenever you overload a Stupid Meter and a Hogwash Detector like that, you have to expect a lot of alarms. Bernancubus and the FOMC announced today that they would keep interest rates low until "at least late 2014" and that the committee "expects to maintain a highly accommodative [read: inflationary] stance for monetary policy." But that's okay because they expect "inflation" to be subdued. To prove beyond all quibble that they have all lost their minds, the FOMC specified a two percent (2%) goal for long term inflation, measured by some price index that makes about as much sense as averaging the price of tire-irons with kumquats and SUVs and calling that an index. Go look at the five-day charts you will notice that suddenly today the silver and gold charts rise straight into the sky. THAT was when the Federal Open Market Committee made its announcement, and THAT shows you how markets interpreted the Fed's announcement: "more and more inflation." Of course, the US dollar index took this news of more inflation on the chin, sinking below 79.60 support to 79.426, down 44.2 basis points or 0.57%. That wrecks the rally, but stopped just below the 50 day moving average (79.56). I suppose it is POSSIBLE the dollar might turn and resume rallying, but clearly the Fed is working with the other Nice Government Men and Beneficent Central Bankers to lower the dollar and yen against the euro. And the scabby euro took a great jump to close at 1.3108, up 0.56% and almost touching its 50DMA at 1.3142. Since it already stands above its 20 DMA (1.2891), piercing the 50 DMA will twist up the frenzy knob on the euro's momentum. The Japanese yen presents a fine picture of government manipulation. It fell through internal support today and at one point through the trading channel reaching back to August. Closed up in that channel, but Oh, My! Somebody BIG is selling yen. Closed 128.66c/Y100 (Y77.72/US$1). Stock investors are about to set off my Lunacy Monitor, as they bought today on news that the dollar will be trashed and the Fed will inflate more. Can that possibly aid the ailing economy? In a pig's eye it can. The economy is ailing only because of inflation in the first place (Don't argue with me here. There would have been no speculative real estate bubble and stock bubble and soap bubble unless the Fed had been inflating and making money artificially cheap, exactly as they are doing now.) More inflation will help the US economy as much as another drink will sober up a drunk. Dow rose 83.1 points (0.66%) to 12,758.85. S&P500 rose 0.87% (11.41) to 1,326.06. This charade, this farce, this "inflate-poke-and-hope" management ought to bring tears to any sane eye. But, it's an ill wind that blows no good, and the ill winds of Central Bank and Government Stupidity, Keynesianism, and Official Hogwash all blew mightily into the sails of silver and gold today. Just to show you things haven't changed much, except that 120 years ago men had more courage, on 25 January 1787 the militia of what was called "Shay's Rebellion" was met and dispersed by superior Massachusetts state forces at the Springfield (U.S.) Armory. Shay's Rebellion was an uprising of debt-ridden, taxed-out farmers who had fought a Revolution for liberty only to find that at home they were being made debt slaves. Argentum et aurum comparenda sunt -- -- Gold and silver must be bought. - Franklin Sanders, The Moneychanger The-MoneyChanger.com © 2012, The Moneychanger. May not be republished in any form, including electronically, without our express permission. To avoid confusion, please remember that the comments above have a very short time horizon. Always invest with the primary trend. Gold's primary trend is up, targeting at least $3,130.00; silver's primary is up targeting 16:1 gold/silver ratio or $195.66; stocks' primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold; US$ or US$-denominated assets, primary trend down; real estate bubble has burst, primary trend down. WARNING AND DISCLAIMER. Be advised and warned: Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that short term trading outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures. NOR do I recommend investing in gold or silver Exchange Trade Funds (ETFs). Those are NOT physical metal and I fear one day one or another may go up in smoke. Unless you can breathe smoke, stay away. Call me paranoid, but the surviving rabbit is wary of traps. NOR do I recommend trading futures options or other leveraged paper gold and silver products. These are not for the inexperienced. NOR do I recommend buying gold and silver on margin or with debt. What DO I recommend? Physical gold and silver coins and bars in your own hands. One final warning: NEVER insert a 747 Jumbo Jet up your nose. 
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| The Coming Dollar Downleg And Gold Upleg Posted: 25 Jan 2012 10:01 AM PST Run to Gold
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| A Closer Look At the Gold Chart For a Break and Run Possibility Posted: 25 Jan 2012 09:48 AM PST |
Bob and I sat down for a brief chat about the economy, gold, silver and the mining shares. He explains that frugal management, especially in the early years, is extremely important. Management should be in it to make their profits from the eventual success of the project, rather than cashing in on high salaries and other compensation. Share structure is also quite important. When companies have hundreds of millions of shares outstanding, before producing one ounce , this will greatly lessen the potential future share appreciation.
It's not hard to understand why gold and silver prices shot upwards.| You are subscribed to email updates from Save Your ASSets First To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
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