Gold: Past, Present, and Future

Amy Sanchez2 said:Alright, look, sure, that graph basically proves that currencies are losing their value against gold—honestly, they're losing value against just about everything else these days—but it doesn't actually touch on why gold has skyrocketed sevenfold while the US dollar has managed to tank by 25% over the last decade alone.😕

Bull market?

What’s your take on how prices are going to react once tomorrow's summit wraps up? 🙂

If you look at how previous summits have played out... nothing's gonna happen. Gold isn't going to react to some insignificant meeting.

Upside potential here. Something interesting will probably "leak" over the weekend, so we might see a rally on Monday while the Dollar slides down.

Edit: The real question is whether 1558 can hold through the end of the week, or if we’re looking at a new bottom—maybe $10-$15 lower—sometime between tomorrow and Monday. Honestly, I’m leaning toward it holding above 1558, but we'll see.

There’s a whole list of doomsday scenarios out there, though if you ask me, most of them aren't even realistic. For instance, if we slip below 1526, that’s a massive red flag. Right now, the price action isn't exactly looking pretty, but I’m still holding onto my optimism.

Walter Barrett8 said:What’s your take on how prices are going to react once tomorrow's summit wraps up? 🙂

Honestly, whatever happens at the summit isn't going to move the needle for gold or silver much at all. There’s a way more significant event looming for silver—Black Friday this coming Friday the 29th. If you actually bother to look at the charts I've attached, it’s pretty obvious there's a real risk of silver sliding down to the $22-$23 range over the next couple of weeks.
http://www.tfmetalsreport.com/blog/3963/lookout-part-ii
On the flip side, though—and as George Burns points out—the Cartel's net short positions have shrunk dramatically. That basically means the Cartel could be looking to exit their shorts almost entirely very soon. That would be a massive green flag for both silver and gold to rally. But before we get to that party, I’m honestly getting more and more worried that the risk of gold and silver dropping toward $1450 and $22-$23 is growing by the day.

Walter Barrett8 said:What’s your take on how prices are going to react once tomorrow's summit wraps up? 🙂

here’s the latest news from tonight

Nov 19th — The EU leaders just finished the group photo op and are probably grabbing dinner now—still zero signs of anything actually solving the eurozone crisis.

🤣

placidlynx43 said:Honestly, whatever happens at the summit isn't going to move the needle for gold or silver much at all. There’s a way more significant event looming for silver—Black Friday this coming Friday the 29th. If you actually bother to look at the charts I've attached, it’s pretty obvious there's a real risk of silver sliding down to the $22-$23 range over the next couple of weeks.
http://www.tfmetalsreport.com/blog/3963/lookout-part-ii
On the flip side, though—and as George Burns points out—the Cartel's net short positions have shrunk dramatically. That basically means the Cartel could be looking to exit their shorts almost entirely very soon. That would be a massive green flag for both silver and gold to rally. But before we get to that party, I’m honestly getting more and more worried that the risk of gold and silver dropping toward $1450 and $22-$23 is growing by the day.

Something along those lines regarding this topic:

Silver Has broken The lows going Back to November 2010, this is NOT good technically. Silver Has clearly broken down for The short term and is in a bear market, we believe the low for silver will be between the $17.50-$22.50 range.

It’s finally happening! The Bank of England is printing money again, and the Federal Reserve just slashed rates. Plus, we’ve got that US jobs report coming up next.

+ And don't forget this. Gold is heading straight for $1500.

http://www.zerohedge.com/news/adp-sa...ufacturing-jobs

A year ago, news like this would've sent gold skyrocketing at least $50 in a single day... but today? It’s just tanking.

Melissa Sanchez17 said:It’s finally happening! The Bank of England is printing money again, and the Federal Reserve just slashed rates. Plus, we’ve got that US jobs report coming up next.

+ And don't forget this. Gold is heading straight for $1500.

http://www.zerohedge.com/news/adp-sa...ufacturing-jobs

Gold hitting $1500? That's well below $1526. Predicting that would be a total 180, which makes it a pretty radical call.

If tomorrow's jobs report comes in strong, it's realistic to think gold might briefly test the 10-day moving average at $1585. Sure, it could drop lower, but $1500?? No way.😕

🤷What would Elon Musk have to say about how things are playing out?

We’re looking at two critical levels here. First up, the 10-day moving average sits at 1584. Then there's the June 28th floor at 1547. If that jobs report comes in hot, I doubt the first level will hold. But if things soften and we break that second one? Gold is in serious trouble. Bottom line: staying above 1547 is the goal right now.

After trading a few hundred emails back and forth with Sinclair Broadcast Group, Ivory, Angry Andy, Embry-Riddle, and Turd Ferguson, I’ve come to one pretty simple conclusion: the price of Silver and Gold is going to be whatever the manipulators decide it's going to be. These guys can play this cat-and-mouse game for an eternity—way longer than any of us have the patience for. For instance, look at what happened today: right after the NPR Cartel dropped their announcement, they pumped gold up by $13 just to wipe out those spec short sellers, only to let it tank $20 later to crush the spec longs. You’ve got to wrap your head around the fact that gold jumping from $248 to $1,600 over the last 11 years didn't happen by accident—it happened because the Cartel pulled the strings. Period. Regardless of what the macro economic data says, prices will only move when and if the Cartel decides they're ready to move them.

I can hold out for a while, but there’s a limit.
Specifically, I'll last until one of the big players decides to actually stand for delivery, or until the sheep finally wake up and realize you can't just "dump" an entire year's worth of silver production in a single hour... who knows what kind of black swan we're looking at.
It's the same story with the whole financial system... between Madoff, JPMorgan Chase's trading losses, and the LIBOR scandal—which was easily the biggest fraud in history—it feels like these bankers are slowly losing their grip on things.

placidlynx43 said:After trading a few hundred emails back and forth with Sinclair Broadcast Group, Ivory, Angry Andy, Embry-Riddle, and Turd Ferguson, I’ve come to one pretty simple conclusion: the price of Silver and Gold is going to be whatever the manipulators decide it's going to be. These guys can play this cat-and-mouse game for an eternity—way longer than any of us have the patience for. For instance, look at what happened today: right after the NPR Cartel dropped their announcement, they pumped gold up by $13 just to wipe out those spec short sellers, only to let it tank $20 later to crush the spec longs. You’ve got to wrap your head around the fact that gold jumping from $248 to $1,600 over the last 11 years didn't happen by accident—it happened because the Cartel pulled the strings. Period. Regardless of what the macro economic data says, prices will only move when and if the Cartel decides they're ready to move them.

I have maintained from the start that there is no such thing as an unmanipulated market—the recent LIBOR scandal and the mess at Barclays proved that beyond a shadow of a doubt. But I do have one question...

If the Cartel's intention has been to drive up gold prices over the last 11 years, why would you think they would suddenly stop such a lucrative practice now?😍

Their goal wasn't actually to pump the price of gold, but just to make sure it didn't skyrocket out of control. 🙂

Anthony Evans78 said:I can hold out for a while, but there’s a limit.
Specifically, I'll last until one of the big players decides to actually stand for delivery, or until the sheep finally wake up and realize you can't just "dump" an entire year's worth of silver production in a single hour... who knows what kind of black swan we're looking at.
It's the same story with the whole financial system... between Madoff, JPMorgan Chase's trading losses, and the LIBOR scandal—which was easily the biggest fraud in history—it feels like these bankers are slowly losing their grip on things.

And what about the massive players holding the Fed's gold? You really think those heavy hitters don't have physical metal on hand? If they didn't, they wouldn't be considered major players in the first place!
I actually asked recently how long these guys can keep pulling the strings. Is it forever? Seems like it!

Regarding the bankers—it sucks, but it looks like everything is slowly sliding right into their hands. 😍

Melissa Sanchez17 said:It’s finally happening! The Bank of England is printing money again, and the Federal Reserve just slashed rates. Plus, we’ve got that US jobs report coming up next.

+ And don't forget this. Gold is heading straight for $1500.

http://www.zerohedge.com/news/adp-sa...ufacturing-jobs

Where on earth are you getting these wild theories from?

Anthony Evans78 said:Their goal wasn't actually to pump the price of gold, but just to make sure it didn't skyrocket out of control. 🙂

And they nailed it! The price has basically sextupled since then!