Charles Nenner and Martin Armstrong both have stated through their respective mathematical methodologies of 'Cycles' and 'Confidence Model' that mid June will quite possibly be the very last time to purchase precious metals. To quote Armstrong: "The August 7th turning point is starting to be picked up on our weekly models in many markets. The bounce so far out of the week of 5/20 is flat so far. This tends to warn what will not bounce reverses hard. So we may still be looking at new lows in the metals for June and new highs in the Dow as European politicians still are doing everything possible but look in the mirror. These people are destroying Western Civilization with their old ideas that no longer apply. As we move closer, we will update on these markets as they begin to line up like duckling following their mother." Charles Nenner has also said that Mid June is looking at a new low and there after it will begin to rise again.
I like what Armstrong has to say and up to now he has identified the movement of capital around the world like no other. He is still of the opinion that further weakness is likely in gold and silver but as usual, he does not place a low figure or a time for the occurence. He simply indicates the strength of the move and the pressure it is under and highlights the possible lows ( anywhere between 1150 and outside chance of 950 ). He also identifies key price targets which will indicate change of trend. I have followed his advice and it has saved me tens of thousands of dollars by exiting a falling trade.
Time for me to bump myself, looks like the above people were right. If only the Australian dollar was $1.05 now.... still what a bargain!!
Earlier this year I said that come Sept 2013, we may see some very positive movement up in pm's. I may have to revise that to say that it might not be till October till we see that movement. Consumer confidence index and jobless claims impact sentiment a whole lot. I believe, more than anything, sentiment drives spot, not logical conclusions based on mathematics, past charting, or models. Not that mathematical calculations aren't useful to some degree but it's the same reason why so many of the bulls who think they have it figured out mathematically get it wrong so often. Buckle in boys and girls, the 4th quarter may very well see a rise (maybe a few short months) as sentiment might change in favor of pm's.
Hang on hang on hang on..... Aren't we still waiting for the end of the world that was ment to happen late last year? I mean I am happy it didn't happen
It is hardly going to jump from where it is all the way back up to the highs overnight. I think there will at least be a few more months of buying opportunities. I am hoping that it stays at these levels for another 6months to a year.
There are always dips and buying opportunities in any asset class. Anyone who says youre gonna miss the bus is buying out of delusion and fear.
Wait wait wait...so they are saying that after mid June it won't be possible to purchase any gold or silver at all... :lol:
They've been saying that ever since silver/gold dropped awhile ago. That you won't be able to purchase any coins/bars etc. Well, I'm still able to purchase some now. Is anyone experiencing severe supply issues anywhere else?
It is quite tempting indeed. If I see the same deal I saw when it was about $22.60 (.89 cents over spot plus free shipping and no tax and I can pay in check) for 10 oz OPM (Ohio Precious Metals) bars, I will probably go for more. OPM is one of a few bullion production facilities that supplies to the US Mint. http://www.goldbarsworldwide.com/PDF/NBA_76_Ohio_PreciousMetals.pdf
There are no shortages that I've read about. Every large dealer that I'm aware of seems to have plenty of pm's in stock. If anyone claims that you won't be able to buy pm's then they are just flat out lying.
I am only new at this game so would not really know, but... In the couple of weeks I have been watching the Perth Mint site, they have had no silver in stock. I called them a week ago, and they told me I could order over the phone but there would be a delivery wait of around 4 weeks. And yesterday afternoon I was in a dealer's shop, and they had 2 x 100oz bars in stock and said they were waiting 8 weeks now for delivery of fresh supply from the Perth Mint. I guess delays are different to actual shortages; however a further upsurge in demand could really slow things down? Agnostic
Do you foresee a further upsurge in demand? Unless silver goes down to 10/oz maybe. And it takes a lot of discipline, courage and spare cash to continue buying down the dip.
Well from what I have read, there was a surge in demand in April after the last price drop; so yes it would not surprise me if there is high demand for physical silver right now.
Whilst it is true that you often have to wait for Silver from PM these days, from what I understand it is due to limitations in how much they can "cast" or "mint" - not a shortage of actual silver.
