Gold For the Close of May Posted on May 29, 2014 by Martin Armstrong Gold is moving into the June seasonal low on schedule. A closing for the month on a Nearest Futures basis tomorrow below 1251 should result in the sharp decline. A monthly closing BELOW 1192 will warn serious of a sharp decline that will more than likely break the $1000 level. C A U T I O N is highly advised.
Take out the peak and my lines look much better. Not saying I know everything or anything about TA. I just like lines
Hardly stopped rallying since 1240. Stewart Thomson's commentary May 27, 2014 not all that off. Weekly chart looking pretty good to me. Let's put it this way, it's a funny way for a chart to behave if it has a powerful drop ahead of it don't you think?
The chart is simply a gauge of previous behaviour. The people who short term manipulate know all about charting and use this very thing against the people that use charting as a predicting tool. There is a good chance that this will become a pump and dump repeat. Gold is still a long way from reaching the point that indicates the bull has returned. What we have now is a bear on a trampoline.....( I should copyright that term)
Not according to Elliott Waver Lara, She's very confident gold has a big down wave directly ahead. I think 1343 is her ceiling, then its 'primary' wave 5 down to below $1,000 [youtube]http://www.youtube.com/watch?v=l66uml31UVM[/youtube]
Polny says June high reached, now a retracementh for a (northern) summer low then $2k by year end - for what it's worth.
Can we all Agree that gold and silver are manipulated... We know that the true numbers of gold and silver are not shown.. we know from many factor's that those that manipulate it are in shit (Europe/America) We know that China, India and Russia are buying lot's of it.. do you honestly think that a country like China or Russia would buy gold to lose money? A government will always be smarter then you or those analysts that are making charts and numbers from there asses, how can they know these such prices... Just follow the governments, Why didn't china or Russia buy these amounts of gold before 2009? or why didn't china announce how much gold they have since 2003? China had 1053 odd tonnes of gold announced in 2003 and nothing was heard of it again til this day.. china want's the gold cheap why announce it but they have a habit to announce there gold amount every 6-8 year's. In 2013 they opened a new 2 tonne gold vault, they have spent millions on advertisements to let there citizens be aware China has been promoting the ownership of Silver and Gold to it's Citizens since September 2009. The main state-owned television company, China's Central Television, has been running news programme informing the public know how easy it is to buy precious metals as an investment. On silver investment, the announcer is quoted as saying "China has introduced its first ever investment opportunity for silver bullion. The bars are available in 500g, 1kg, 2kg and 5kg with a purity of 99.9%. Figures show that gold was fifty times more expensive than silver in 2007, but now that figure has reached over seventy times. Analysts say that silver has been undervalued in recent years. They add that the metal is the right investment for individual investors and could be a good way to cash in. What happens when US announces there gold (if they do) and it's less then 8000 in fact it's less then 2000 considering they cant pay back 50 tonnes a year to Germany nor to Argentina ( I think it's Argentina) The last time that they announced the amount of its official gold reserves was in April 2009. At that time it stated that their holdings had increased from 600 tonnes (announced in 2003) to 1,054 tonnes. Essentially, China had doubled its official gold reserves in 6 years without letting on. One straightforward reason as to why they do not report their gold buying activities is because they do not want to tip their hat and cause the price to rise dramatically. The PBOC also has to be careful about creating too much volatility in currency markets. However, China has a pattern in recent times of announcing their gold holdings every 5 to 6 years and thus the date for the anticipated next announcement is fast approaching. What is going to open when America announces there true gold reserves if they ever do? If you cant pay back Argentina or germany In conclusion, dont waste you're time with these charts and analysts or the market.
Yeah yeah, but some of us want to know where it's going tomorrow or in the next few months. The macro stuff doesn't get disputed much. If gold goes down my gold stocks go down. I want to know whether I should sell Northern Star Resources (NST) this week not the long range intentions of China and Russia. You must be a quick typer.
Are you currently sitting on a nice profit? What does your gut instinct tell you right now? What are your feelings regarding this $1343 turn?
Yes, Bo Polny, forgotten about him. So many experts. He says to expect correction around this time, it's a few days overdue now, but doesn't give an idea how large the pullback will be. Says gold has begun the 3rd seven year cycle of a 21 year bull market and the ultimate target is "$10,000 at least". Been charting for 10 years and advising subscribers for one year. That's the trouble, I'm looking for expert guidance because my gut instinct (which is now bullish on weekly chart) is no good for Gold or Silver. I only have 21,000 NST shares at average 0.94, so no king's ransom, but any profit now is of interest to burr the edge off our loss on Neon energy (NEN) Let's add a few up: M Armstrong warning, Louise Yamada last I saw was saying more or less than equities are overpowering gold, Clive Maund gone bearish because of massive commercial shorts build-up, Elliott Wave analyst Lara sounds horribly confident of a fall to at least $1,000 http://www.gold2020forecast.com/
Thanks to Armstrong, I got out of silver at $33...my profit was not large but it proved a very prudent move..... There is nothing wrong with taking the small profit and re-entering the market at a higher price once it is confirmed that the final low is in... A profit is better than agonising over lost opportunity if gold is just a bull in a bear at the moment. If $1000 gold is achieved, which I think is possible, then your stock will have halved. It is a gamble...nobody knows the future
Watch the U.S. dollar index...it is showing significant resistance at the 80 mark and has effectively moved out of a downwards channel. If this goes on a tear, which Armstrong has already identified as an extremely strong possibility....with rational explanations.....then this may prove very negative to gold in the short term. Eventually gold and the dollar will rise together for a time...but at the moment the correlation is negative. Just further food for thought.
That is interesting. Charles Nenner also put a top of 1342 on this rally after he issued a buy signal at 1265.
Jesus! What a thick kiwi accent. I'm struggling... I would rather trust Nenner's low prediction of 1150 because he bases it off historical production ratio lows in the 90's. You can only chart like this to a certain extent, she is getting waaaay to complicated here. Charting, is after-all based on mob mentality. So by definition the more you look into it, the less accurate it becomes. I've been commodity trading for 4 years and this is one key observation I have experienced.
[youtube]http://www.youtube.com/watch?v=Pa1pIO4_lUY[/youtube] Lara and Bo both expect the Gold price to end like the bear in this clip!
Well wouldn't this be 'nice'. Gold forming a massive saucer bottoming formation that once completed will serve as the 'platform' for gold to move up strongly over the next several years. Or words to that effect. But note he's tipping an imminent short pullback towards $1275 Gold first, corresponding to the gap above 1230 on the GLD etf. This development of course would have all gold watchers freaking out that the more bearish expert commentators have called it right. Seldom felt more nervous about gold's prospects :/ http://www.superforcesignals.com/video/2014july3goldsaucerbottom/2014july3goldsaucerbottom.html
