Gold World News Flash |
- Don’t Miss Out on These Important Charts
- Report: Massive Vulnerability Detected In National Power Grids: “There Is No Way to Stop This”
- China aiming for 'de-Americanized world’ with renminbi replacing dollar
- Eric Sprott, Grant Williams, and Egon von Greyerz at King World News
- The Time Has Come To Fully Diversify: Retreating From Banks And From The Dollar Itself
- Which Is the World’s Safest Major Currency – You’ll Be Surprised
- Gold: Rattle Snake Investing With Marin Katusa of Casey Research
- Weekend Report...The 'Dollar Diamond Top': Implications for the Precious Metals
- Alasdair Macleod Warns A Currency Crisis Is Dead Ahead
- JPY Drops, Nikkei Pops On Japan's Worst Trade Deficit On Record
- What the Republican Civil War Means For Gold
- The Shocking Reality Of The World Today
- Caxton: Goodbye To The Self-Sustaining Recovery
- Billionaire Sprott - Stunning Surprise In The Silver Market
- Billionaire Sprott - Stunning Surprise In The Silver Market
- Gold and Silver – Back Story vs Charts; Charts Are Superior
- US Happily Digs its Own and Dollar's Grave
- Gold and Silver Back Story vs Charts; Charts Are Superior
- Gold and Silver Big Moves In and Out of Comex Bullion Warehouses
- Gold: Rattle Snake Investing with Marin Katusa of Casey Research
- Gold Investors Weekly Review – October 18th
- Silver Prices and the Flow of Physical
Don’t Miss Out on These Important Charts Posted: 21 Oct 2013 12:30 AM PDT by Peter Degraaf, Silver Seek: "The National Budget must be balanced. The Public Debt must be reduced; the arrogance of the authorities must be moderated and controlled. Payments to foreign governments must be reduced, if the Nation does not want to go bankrupt. People must again learn to work, instead of living on public assistance." …..Marcus Tullius Cicero (+/- 55 BC). The current correction in gold started in August 2011 and has now gone on for 112 weeks – (it most likely bottomed on June 28th). This has been the longest correction since the current bull market started in 2002. The correction of 2006 lasted 71 weeks before a new high was reached. There followed then a 50% price rise, (+85% from bottom to the next top). |
Report: Massive Vulnerability Detected In National Power Grids: “There Is No Way to Stop This” Posted: 21 Oct 2013 12:00 AM PDT by Mac Slavo, SHTFPlan:
If you think that our multi-billion dollar electrical power grids are secure and capable of withstanding a coordinated attack, think again. According to one group of engineers, the grid is so vulnerable that it wouldn't even require a skilled hacker to compromise. In fact, when Adam Crain and Chris Sistrunk decided to test some new software they were developing they identified a vulnerability so serious that it could literally blind operational controllers to such an extent that they would be locked out of monitoring systems and unable to maintain grid integrity. |
China aiming for 'de-Americanized world’ with renminbi replacing dollar Posted: 20 Oct 2013 09:54 PM PDT By Andrew Critchlow http://www.telegraph.co.uk/finance/commodities/10392620/China-aiming-for... Given the scale of China's consumption of fossil fuels and raw materials, it is only a matter of time before the renminbi replaces the dollar as the primary currency for trading commodities and resources. China has overtaken the United States as the world's largest oil importer and goods-trading nation. Over the next five years, it will surpass the rest of the world combined in its consumption of base metals. Given the scale of the country's consumption of fossil fuels and raw materials, it is only a matter of time before the renminbi replaces the dollar as the primary currency for trading commodities and resources such as crude oil and iron ore. The debt ceiling farce in Washington and China's growing reluctance to continue underwriting the US economy by buying up its bonds and adding to America's near $17 trillion (L10.5 trillion) debt mountain suggests that this tectonic shift in the global trade system could be just around the corner. ... Dispatch continues below ... ADVERTISEMENT Buy metals at GoldMoney and enjoy international storage GoldMoney was established in 2001 by James and Geoff Turk and is safeguarding more than $1.7 billion in metals and currencies. Buy gold, silver, platinum, and palladium from GoldMoney over the Internet and store them in vaults in Canada, Hong Kong, Singapore, Switzerland, and the United Kingdom, taking advantage of GoldMoney's low storage rates, among the most competitive in the industry. GoldMoney also offers delivery of 100-gram and 1-kilogram gold bars and 1-kilogram silver bars. To learn more, please visit: http://www.goldmoney.com/?gmrefcode=gata Chinese state media are already calling for a "de-Americanised world." Some experts say that China is plotting to usurp the greenback's place in global commodities trade. Beijing's strategy hinges on quietly encouraging traders to bypass New York through the creation of a network of interlinked commodity markets based in the global financial hubs of Hong Kong and London. "There can be little doubt from these actions that China is preparing herself for the demise of the dollar, at least as the world's reserve currency," writes Alastair Macleod, head of research at GoldMoney. A further signal that policymakers are beginning to warm to the renminbi playing a greater role in the global economy came last week when Chancellor George Osborne unveiled a historic deal to allow British investors direct access to China's markets and allow Chinese banks to expand operations in the UK. The historic pact will also place the City, already the centre for global metals and foreign exchange trading, at the forefront of the race to capture more business denominated in the yuan. In the world's major mining hubs such as Australia, resource companies are already taking advantage of new legislation that allows invoicing and trade settlement directly in renminbi, a process which completely cuts the US dollar out of the equation. HSBC predicts that the Chinese currency will be the third-largest unit used for trade by 2015 and fully convertible within the next five years as the People's Bank of China gradually liberalises policy. "The flow of transactions conducted in RMB [renminbi] will only continue to grow," said Frederic Vilsboe, head of commodity and structures trade finance for Europe, Middle East and Africa at HSBC in London. Among the Organisation of Petroleum Exporting Countries, which controls a third of the world's supply of crude, members such as Iran -- constrained by sanctions -- are already agitating for a shift away from pricing in US dollars. China's oil imports set a record last month, with official figures showing that 6.47 million barrels a day of crude flowed into the country. The scale of China's existing and forecast demand for resources almost makes any attempt by the US to maintain the dollar's status as the world's primary trading currency for resources entirely nugatory. Wood Mackenzie estimates that China will account for 52 percent of base metals demand by 2017, compared with 46 percent of the 96-million-tonne global market this year. The Edinburgh-based company forecasts that the world's second-largest economy, will be consuming more base metals than the rest of the world combined by 2017 as the process of urbanisation that started at the beginning of the last decade continues. Of course, there are risks, not least China's ability to sustain the rapid rates of growth achieved since the country opened its economy after joining the World Trade Organization in 2001. Politically too Beijing faces suspicion on the world stage but, if authorities in Beijing can continue to grow the economy, it is almost inevitable that traders will soon be quoting commodity prices in yuan, not dollars. Join GATA here: The Silver Summit http://www.cambridgehouse.com/event/silver-summit-2013 Mines and Money Australia New Orleans Investment Conference https://jeffersoncompanies.com/landing/speakers?IDPromotion=613011610080... * * * Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006: http://www.goldrush21.com/order.html 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 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 How to profit with silver -- Future Money Trends is offering a special 16-page silver report with our forecast for 2013 that includes profiles of nine companies and technical analysis of their stock performance. Six of the companies have market capitalizations of less than $800 million and one company has a market cap of only $30 million. The most exciting of these companies will begin production in a few weeks and has a market cap of just $150 million. Half of all proceeds from the sale of this report will be donated to the Gold Anti-Trust Action Committee to support its efforts exposing manipulation and fraud in the gold and silver markets. To learn about this report, please visit: http://www.futuremoneytrends.com/index.php?option=com_content&id=376&tmp... |
Eric Sprott, Grant Williams, and Egon von Greyerz at King World News Posted: 20 Oct 2013 09:40 PM PDT 11:39a ICT Monday, October 21, 2013 Dear Friend of GATA and Gold: In an interview in two segments with King World News, Sprott Asset Management CEO Eric Sprott marvels at the dichotomy between demand for gold and silver and the decline of futures prices: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/10/19_B... http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/10/20_B... Singapore fund manager Grant Williams, also interviewed by King World News, does the same thing: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/10/19_P... And Swiss gold fund manager Egon von Greyerz tells KWN that the world is starting to reject the U.S. dollar: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/10/19_H... CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT You Don't Have to Wait for Your Monetary Metal: Many investors lately report having to wait weeks and even months for delivery of their precious metal orders. All Pro Gold works with the largest wholesalers that have inventory "live" -- ready to go. All Pro Gold can ship these "live" gold and silver products as soon as payment funds clear. All Pro Gold can provide immediate delivery of 100-ounce Johnson Matthey silver bars, bags of 90 percent junk silver coins, and 1-ounce silver Austrian Philharmonics. All Pro Gold can deliver silver Canadian maple leafs with a two-day delay and 1-ounce U.S. silver eagles with a 15-day delay. Traditional 1-ounce gold bullion coins and mint-state generic gold double eagles are also available for immediate delivery. All Pro Gold has competitive pricing, and its proprietors, longtime GATA supporters Fred Goldstein and Tim Murphy, are glad to answer any questions or concerns of buyers about the acquisition of precious metals and numismatic coins. Learn more at www.allprogold.com or email info@allprogold.com or telephone All Pro Gold toll-free at 1-855-377-4653. Join GATA here: The Silver Summit http://www.cambridgehouse.com/event/silver-summit-2013 Mines and Money Australia New Orleans Investment Conference https://jeffersoncompanies.com/landing/speakers?IDPromotion=613011610080... * * * Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006: http://www.goldrush21.com/order.html 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 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: |
The Time Has Come To Fully Diversify: Retreating From Banks And From The Dollar Itself Posted: 20 Oct 2013 09:15 PM PDT from Survival Blog: The recent political crisis over the delayed raising of the U.S. debt ceiling was just a precursor of a much larger crisis that will occur when interest rates inevitably rise. Once they do rise, it will become impossible for the Federal government to service its debt without massive monetization and concomitant mass inflation. There may also be some draconian stopgap measures such as levies on bank accounts (a.k.a. “bail ins”), nationalization of private pension funds, nationalization or forced common stock purchases for IRA and 401(k) plans, currency controls, bank holidays, bank withdrawal limits, currency recalls, limited access to safe deposit boxes, IRA and 401(k) withdrawals limits, and perhaps even another ban on privately held gold bullion. For the past seven years I have urged my readers to diversify their investments out of U.S. Dollars and into tangibles. I am now repeating that with an even greater sense of urgency. It is high time to deliberately draw down you bank accounts and stop rolling over your CDs. I now urge my readers to gradually withdraw as much cash as you can, leaving only as much in your checking accounts as you need to pay your monthly expenses and to make your tax payments. |
Which Is the World’s Safest Major Currency – You’ll Be Surprised Posted: 20 Oct 2013 09:04 PM PDT The term 'safe fiat currency’ is as intellectually disingenuous as terms like 'fair tax' or 'government innovation' but, as we've been exploring recently why modern central banking is completely dysfunctional, it does beg the question– is any currency 'safe'? Let's look at the numbers for some data-driven analysis. Words: 575 So writes Simon Black (sovereignman.com) in edited excerpts from his original article* entitled Here's some hard data on the 'safest' fiat currency. [The following article is presented by Lorimer Wilson, editor of www.FinancialArticleSummariesToday.com and www.munKNEE.com and the FREE Market Intelligence Report newsletter (sample here – register here) and may have been edited ([ ]), abridged (…) and/or reformatted (some sub-titles and bold/italics emphases) for the sake of clarity and brevity to ensure a fast and easy read. This paragraph must be included in any article re-posting to avoid copyright infringement.]Black goes on to say in further edited, and paraphrased in some instances) excerpts: What Makes a ‘Safe’ Currency? A nation's currency is issued by its central bank and a central bank is structured like any other bank– it has assets and liabilities. On the asset side of the balance sheet are things like government bonds and gold….Its liabilities include the nation's money supply, technically known as central bank 'notes'. Look at those US dollars, Canadian dollars, British pounds, etc. in your wallet. You'll see they're actually 'notes' issued by the central bank, i.e. liabilities. 1. A Central Bank’s capital ratio: Just like any other bank, healthy central banks hold portfolios of high quality assets and those assets should exceed liabilities by a substantial margin. This is known as a bank's capital ratio, and it represents a bank's margin of safety in the event of a crisis. Consequently, 'safe' currencies are issued by well-capitalized central banks with a high capital ratio. 2. A government’s balance sheet: It's also critical to check the government's balance sheet [because] central banks that get in trouble will require a government (i.e. taxpayer) bailout and heavily indebted governments won't have the ability to do this. The U.S. Dollar [The two points above] automatically eliminate the U.S. dollar because the Federal Reserve's capital ratio is a laughable 1.53% and, since the U.S. government's debt is nearly $17 trillion, there's no chance Uncle Sam can bail out the Fed.The British Pound, Euro, Japanese Yen and Canadian Dollar This reasoning also eliminates the British pound, euro, and yen. Even the Canadian dollar is not in good shape given the country's debt level and the razor-thin capital (0.53%) at the Bank of Canada. The Singapore Dollar Singapore is an interesting case. In its just-published annual report, the Monetary Authority of Singapore announced that it lost $8 billion last year trying to keep its currency depressed against the US dollar. This is astounding… and suggests more than anything that this absurd dollar-centric fiat system is on the way out. Singapore's central bank balance sheet is still in much better condition than the West with a 7.2% capital ratio and the government there has zero net debt, so the Singapore dollar is far safer than the dollar or euro. The Safest Major Currency Is the Norwegian krone Looking at the numbers, the answer is simple. It's the Norwegian krone.
In a paper currency system controlled by a tiny banking elite, the Norwegian krone is as 'low risk' as it gets. (Bear in mind, however, that this analysis does not suggest that the Norwegian krone is ideal for speculation or investment gain… but rather the fiat currency with the sturdiest fundamentals in the event of a global crisis.) [Editor's Note: The author's views and conclusions in the above article are unaltered and no personal comments have been included to maintain the integrity of the original post. Furthermore, the views, conclusions and any recommendations offered in this article are not to be construed as an endorsement of such by the editor.]*http://www.sovereignman.com/finance/heres-some-hard-data-on-the-safest-fiat-currency-12460/ (© Copyright 2012 Sovereign Man, All rights reserved) Related Articles: 1. Shift From U.S. Dollar As World Reserve Currency Underway – What Will This Mean for America?
Today, more than 60% of all foreign currency reserves in the world are in U.S. dollars – but there are big changes on the horizon…Some of the biggest economies on earth have been making agreements with each other to move away from using the U.S. dollar in international trade…[and this shift] is going to have massive implications for the U.S. economy. [Let me explain what is underway.] Words: 1583 Read More » The least imperfect monetary system by which civilized nations can conduct their business is the classical gold standard – a system in which every major nation defines its currency as a weight unit of gold. [Let me explain.] Words: 890 Read More » 3. Fiat Currencies from Around the World: An Interactive Quiz Paper money was first used by the Chinese during the Tang Dynasty in 806 AD–500 years before Europe began printing money in the 17th century. It would be another 100 years before America started circulating a national paper currency…. How familiar are you with banknotes from around the world? Read More » The post Which Is the World’s Safest Major Currency – You’ll Be Surprised appeared first on munKNEE dot.com. |
Gold: Rattle Snake Investing With Marin Katusa of Casey Research Posted: 20 Oct 2013 08:10 PM PDT from VictoryIndependence: |
Weekend Report...The 'Dollar Diamond Top': Implications for the Precious Metals Posted: 20 Oct 2013 07:13 PM PDT In this Weekend Report I would like to show you some charts as to why I have made an abrupt short term move out of our short positions in the precious metals complex. I know some of you think I have lost my mind but I can assure you that ... Read More... |
Alasdair Macleod Warns A Currency Crisis Is Dead Ahead Posted: 20 Oct 2013 06:24 PM PDT Submitted by Adam Taggart of Peak Prosperity, This week's podcast interview introduces a new monetary measurement developed by Alasdair Macleod: the 'Fiat Quantity of Money', or FMQ. Alasdair explains how FMQ is derived, as well as what it can tell us about the true levels of fiat money supply. In the case of the dollar, it reveals that levels are far above what is commonly appreciated – so far, in fact, that a currency crisis could arrive sooner than even many dollar bears expect.
What 'Fiat Money Quantity' (FMQ) Is Signaling
What FMQ Indicates for Gold
Click the play button below to listen to Chris Martenson's interview with Alasdair Macleod 45m:56s): Click here to read the full transcript |
JPY Drops, Nikkei Pops On Japan's Worst Trade Deficit On Record Posted: 20 Oct 2013 05:20 PM PDT You have to laugh really... We presume the rally in Japanese stocks and weakness in the JPY reflects an assumption that this dismal miss for both imports and exports - leaving Japan's adjusted trade deficit the worst in Bloomberg's 20 year history - means moar Abenomics. Of course, the headlines will be all about Abe's 'any minute now' comments or Kuroda's 'just one more quarter' hope (as he speaks later today) but the reality is that things are not getting better in the radioactive nation as this marks the 30th consecutive trade deficit... but, like Venezuela, when has that even been reason not to buy stocks... S&P futures are up 2.5 points (below Friday's highs still for now), gold has given back its earlier gains and is unchanged, and Treasury Futures are down a tick.
For the 30th consecutive month, Japan ran a trade deficit and this time it was the biggest ever as imports rose 16.5% YoY (missing the 19.9% YoY expectations by the most in 15 months) and exports rose 11.5% (missing the 15.6% YoY expectations by the most in 14 months)...
But of course, you buy stocks and sell the JPY on that shit-aweful news... (this is not catch up to US equities as it is an extension of the futures market's gains from Friday...)
Charts: Bloomberg |
What the Republican Civil War Means For Gold Posted: 20 Oct 2013 04:00 PM PDT Dollar Collapse |
The Shocking Reality Of The World Today Posted: 20 Oct 2013 03:41 PM PDT On the heels of the US continuing to lose credibility around the globe, today 40-year veteran, Robert Fitzwilson, wrote about the shocking reality of the world today. He also discusses what this reality means for key markets such as stocks, bonds, gold, silver, energy, as well as other commodities. Fitzwilson, founder of The Portola Group, put together another tremendous piece below for KWN readers around the world. This posting includes an audio/video/photo media file: Download Now |
Caxton: Goodbye To The Self-Sustaining Recovery Posted: 20 Oct 2013 02:31 PM PDT "It's clear to us now that the US economy just isn't going to reach escape velocity," said Andrew Law, head of Caxton Associates (one of the hedge fund industry's most successful money managers) in a wide-ranging and rare interview with the Financial Times. "Tapering is off the table for the foreseeable future." As we have explained numerous times, Caxton notes the Fed has little option but to continue its policy of extraordinary monetary easing indefinitely, adding "what happened [last week] was just another can kicking exercise. The problem has not been solved and the hopes for a grand bargain are in tatters." Simply put, he concludes rather dismally, "there are no incentives for the corporate world to go out and spend right now..."
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Billionaire Sprott - Stunning Surprise In The Silver Market Posted: 20 Oct 2013 01:20 PM PDT
In the aftermath of significant volatility in both the gold and silver markets, billionaire Eric Sprott told King World News there is a stunning surprise in central planners’ war against silver. The Canadian billionaire also spoke about the enormous implications of this surprise for silver investors around the world. Below is what Sprott, who is Chairman of Sprott Asset Management, had to say in part III of this remarkably powerful interview series. Eric King: “Eric, for the silver bulls that are out there, what about the silver market?” |
Billionaire Sprott - Stunning Surprise In The Silver Market Posted: 20 Oct 2013 10:39 AM PDT In the aftermath of significant volatility in both the gold and silver markets, billionaire Eric Sprott told King World News there is a stunning surprise in central planners' war against silver. The Canadian billionaire also spoke about the enormous implications of this surprise for silver investors around the world. Below is what Sprott, who is Chairman of Sprott Asset Management, had to say in part III of this remarkably powerful interview series. This posting includes an audio/video/photo media file: Download Now |
Gold and Silver – Back Story vs Charts; Charts Are Superior Posted: 20 Oct 2013 08:59 AM PDT Almost everybody wants a back story, some information to explain what is going on with gold and silver, mostly looking for some kind of psychological calm as prices decline, or a ray of hope to reinforce why price may reach the sun and the moon. Is there anything that has not been presented, repackaged and represented that has not already been more than fully covered to justify much higher price levels? Have any of them achieved what was promised? Instead of exceptionally higher prices, as a counter to the exceptionally dire reports of the demise of central banks, their [lack of] gold holdings, the precipitously low COMEX and LBMA inventories for the metals, the inability to make good on deliveries over the past few months, etc, etc, prices continue to probe the recent lower levels without any signs of a turnaround. Guess those valid "fundamental" reasons were insufficient to lift prices up. What about the state of the United States? It's broke, and broken. The acknowledged national debt is around $17 trillion, or about $53,000 for every man woman and child in the country. The real debt is more like $125 trillion, and that equates to about $360,000 that every man, woman, and child is responsible for paying. Are you willing to pay that amount, the one your government has run up for you with the prodding of the NWO's Federal Reserve central bank? Is the world's "richest" [richest in terms of debt] country that has not been paying its bills enough of an impetus to send gold and silver higher? Apparently not. What about King Draghi? As bad a shape as the US is in, Europe is worse. Last week, he just informed the world that steps would be needed to "recapitalize" the banks. Does anyone not stop and demand accountability for the previous capital the banks lost? And why are bank depositors responsible for bailing-outs through bail-ins? Why aren't the bankers making up for their own losses, or going out of business like an non-banking entity would do when faced with insurmountable losses? Back to Draghi. He and his other unelected band of thieves that form the EU in Brussels have decided:
The "assessment" under consideration is just how severely broke and illiquid the already failed banks are and how much will be required, how did he express it? Yes, "through the provision of a public backstop." Be prepared for more financial rape and pillaging, for it is sure to come. The most reliable current story is found in the charts. Why is this so? Like we say, do not listen to what people are saying about the markets, listen to what the markets are saying about the people. The higher the time frame, the more controlling the information because it takes a lot more effort over time to evince a change. Price has been put into a context between the current important current levels of resistance and support. Once price broke the 1525 area, last April, that support became resistance, and the market announced to the world that sellers were now in total control. The overall trend, since 2008 and earlier, is up but weakened on the monthly time frame. April is when the central bank/JP Morgan moved to force price lower. Artificially or just plain manipulation does not matter, for the effort succeeded, despite all the positive news, you know, those things people were saying about the market. The market had a different message. In May, on the same level of high volume as the previous month, the bar narrowed significantly. Buyers were meeting the effort of sellers, which is why that bar did not extend lower. However, the fact that the location of the bar was at the lower half of the April range, and the close was well under April's, told us that buyers won that battle, but the war was not over, as the next month clearly showed. June saw another central bank-sponsored "intervention" to suppress the price of gold, [in order to keep the fiat Federal Reserve Note propped up]. Price closed poorly on another wide range down bar. The decline continues. Well, not in July, [4th bar from right]. Not only was there no further downside, the exact opposite of reasonable expectations, the volume increased and price closed near the high. Clearly, buyers won another battle. The terms "battle" and within a "war" are apt, because what we are seeing now is a struggle between buyers and sellers which is in contrast to sellers having previously been in total control. As was said, it takes more effort and time to effect a change on this higher time frame, and what you see, since the June decline, are overlapping bars within the June range, a sign of struggle between the forces of supply and demand. The August rally, 3rd bar from right, had a decrease in volume which meant less buyers, even though price closed higher, again, but stopped at the June range high, evidence of ongoing resistance. However, we may be seeing a subtle change in behavior. The last two bars have narrowed while in a relatively slight decline mode, October still in progress. While August showed a decrease in volume and the rally stopped at the June high, the last two months' total volume is much great than that of August, yet two months of effort to get price lower has not worked. Recall the most recent assault on gold, a 2,000,000 ounce sell order at one time. It does not even register on the chart, unlike the similar blatant sells in April and June. The monthly chart is telling us the downside momentum has lost momentum. This can change in the next few days or few weeks, but the future has not yet happened, so we can only deal with what is known, at this point in time. With this context, we look to the lower weekly and daily time frames to see if a clearer message emerges. The lines connecting the recent swing highs and lows shows how the momentum has slowed. The net decline at "D" is far less than the decline from "A" to "B." Notice the two bars leading into the lows at "B" and "D," both wide range with little to no overlap. The current decline into "F," [? = may or may not be over], has overlapping bars, the opposite of previous lows and in keeping with the small sign of potential change evidenced on the monthly chart. What is lacking in both time frames is confirmation of an actual change. The comments on the daily shows the interchange of past behavior being somewhat determinative of future behavior. The development on the left side of the chart, A, B, C, D, gave reason for why the recent activity unfolded as it did, on the right side of the chart. After the failed probe lower, [4th bar from right], an indication that sellers failed to show up when it was opportune to drive price lower, [like a 2 million oz order was not enough], we get confirmation of sellers being AWOL with Friday's strong rally, strong close, and increased volume. Just as one swallow does not a summer make, one bar, especially on this lower time frame, does not a bull market make, but it is a sign of change. The rally did stop at/below two small failed rally highs. What will be key is how price corrects Thursday's rally bar. Maybe we should have labeled it D/S, Demand over Supply, for it is warranted by that show of activity. If it is real, we should see smaller bars and less volume on any retest of the bar, classically. If volume does increase, the largest increase should occur at/near the low of the correction. Time will tell. The analysis for gold facilitates an easier read for silver, under similar circumstances, but silver still showing a greater propensity to hold its recent lows. The lows can still give way, but sellers will have to show up with greater sway that is being evidenced by buyers. The level of support is at a stronger support level than for gold. Keep in mind, however, the fact that gold has not declined as far into a past support range makes a greater bullish statement for that very reason. The August rally, [3rd bar from right], is being retested by smaller ranges, what one would expect to see if a retest of a recent rally bar is to successfully hold. October has not yet finished, so the reservation of anything can happen remains in play, for the upside as well as the downside. We deemed the breakout gap important when it happened, and while the gap was filled, one can count the fill in minutes before price rallied back higher, so it remains significant. The clustering of closes is usually consolidation before price resumes the previous trend, OR it can signify a turnaround. The tight closes and overlapping of bars for the past six weeks lets us know of the balance, [still viewed as a battle with no declared winner, yet], and from balance comes unbalance. The farther price moves along the RHS [Right Hand Side] of any trading range, the closer is the resolve. The fact that last week was a KR one, [Key Reversal], and the highest close of the past six weeks, speaks to buyers attempting to wrest control from sellers. Previously, we said price needs to get above 22 and demonstrate an ability to hold. It is close, and you can also see 22.50 creates the same agenda of proof. The daily trend has weakened, from a sellers perspective. The burden of proof for change remain with buyers. Expect to always see evidence of change in the charts, first. On that you can rely. Continue, maybe even with a far greater sense of urgency, to buy and personally hold, both physical metals, gold and silver. No one can accurately measure when central bankers will lose total control, but the signs are building. When the ultimate pressure is too great to contain, price will explode upside, leaving behind those who thought they were smart enough to get a better price or "see" more evidence of the obvious. |
US Happily Digs its Own and Dollar's Grave Posted: 20 Oct 2013 06:32 AM PDT Yet another budget crisis in the U.S. has made many people around the world, even those, who consider themselves indifferent to the vicissitudes of political controversy and global economic problems, wonder what is going to happen to the American dollar. The shutdown in the US - the controlled suspension of most public institutions due to the inability of the federal authorities to finance them - raised concerns not only with financial, economic elites and politicians all over the world, but with mere mortals as well. In Russia, many started talking about the looming collapse of the US financial system, the collapse of the dollar and the collapse of the entire global financial system. Some even said that the United States may switch to the new currency - amero - to get rid of the incredible national debt, which has exceeded the level of 17 trillion dollars. |
Gold and Silver Back Story vs Charts; Charts Are Superior Posted: 20 Oct 2013 06:07 AM PDT Almost everybody wants a back story, some information to explain what is going on with gold and silver, mostly looking for some kind of psychological calm as prices decline, or a ray of hope to reinforce why price may reach the sun and the moon. Is there anything that has not been presented, repackaged and represented that has not already been more than fully covered to justify much higher price levels? Have any of them achieved what was promised? |
Gold and Silver Big Moves In and Out of Comex Bullion Warehouses Posted: 20 Oct 2013 05:47 AM PDT Yesterday saw two big withdrawals of gold bullion from the Comex warehouses. 62,050 ounces came out of HSBC and 16,556 ounces left Scotia Mocatta, both out of eligible storage. But never fear, JPM came to the rescue with a whopping deposit of 192,900 ounce of gold bullion into eligible storage. I wonder where that came from. Wink wink, nod nod. |
Gold: Rattle Snake Investing with Marin Katusa of Casey Research Posted: 20 Oct 2013 03:42 AM PDT Marin Katusa: Ten years? Well usually when I do my personal investments, I like to go for five to seven years. I'll tell you the story of when I started Copper Mountain team. I found these great... [[ This is a content summary only. Visit http://goldbasics.blogspot.com or http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]] |
Gold Investors Weekly Review – October 18th Posted: 20 Oct 2013 02:04 AM PDT In his weekly market review, Frank Holmes of the USFund.com discusses the strength, weakness, opportunity and threat for gold investors. The yellow metal recovered from past week’s losses. Gold closed the week at $1,316.18 which is $44.07 per ounce higher (3.46%). The NYSE Arca Gold Miners Index went 5.56% higher. Gold market strengths
Gold market weakness
Gold market opportunities
Gold market threats
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Silver Prices and the Flow of Physical Posted: 19 Oct 2013 03:07 PM PDT Jeffrey Lewis |
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