Gold continuing to breakout but is a correction due?
Chris Vermeulen, Founder of The Technical Traders joins me to a close look into gold – what’s driving the move, what the technicals are saying about this fast move higher, and if a correction is due. We also look at the gold stocks, silver, and USD all within the context of gold.
some more….
Apparently Silver’s Overall Open Interest is showing the “fear of the shorts” as a number of contracts were added in order to give us the Silver Signal we have now and during the cloaking of the deliveries to the tune of 2,777 more positions in trade bringing the Overall count back up to 231,366 Overnighters in order to keep Silver from doing the move Gold is doing now. Will the signal work like it always has in the past, or are we in the change of a lifetime? Pay attention to the deliveries! They matter the most.
When silver does move I suspect it’ll be much more dramatic than gold, I also think it’ll be impossible to time but then my timing is always wrong so I would think that
Nigel…….everyone’s time is wrong…….the powers to be…..want it that way… 🙂
Thanks OOTB!
You’re welcome…
Time might be up…….on the silver game……where is the phyz….
None at comex…..and london only has about 1/2 of the phyz…..
According to Harry O.(see tape below)
Silver is always going to play catch up………..by design….
Here is one supplied by someone else…
https://www.youtube.com/watch?v=r5F4g-TZn2g
SO WHAT IS NEW>>>>>>LIKE DUH…..
https://www.zerohedge.com/news/2019-06-25/merrill-lynch-caught-criminally-manipulating-precious-metals-market-thousands-times
Remember there is no such thing as manipulation………LMAO
Reminds me of BREXIT…………….. 🙂
People should be ready to storm the gates…..but, they will not….
BOBBY M…..supplied this one…..everyone should read it and see where you stand….
https://www.lewrockwell.com/2019/06/no_author/you-are-fighting-in-the-most-important-battle-of-all-time/
Thanks to Matthew and Excelsior for yesterday’s list of possible miners for investment. They were both reinforcing and ideas for the future. I appreciate the sharing.
You’re welcome, David.
Thanks David. There are a lot of interesting opportunities out there in the mining sector, and various thresholds of risk reward to consider.
Good luck in your investing and may it be prosperous.
So far the correction looks orderly. If 1400 holds that would be great but as long as it doesnt break below the often mentioned former resistance area then all looks ok I believe.
Gold is down $30 (2.1%) from today’s high so it’s been a sharp, quick retracement as expected. Such action is typical of a bull market and is good for shaking out weak hands.
Agreed. As I stated yesterday, the push up last night to the $1434 resistance (the 2013 peak) was the logical place for Gold to retrace from at such overbought conditions, but moving forward pullbacks will be more shallow than those on the outside looking in would prefer, and running with overbought conditions will go on longer than most expect.
https://www.youtube.com/watch?v=otOARxAOp2g
Sorry, it was time. 😉
Haha! Love it!
https://www.teepublic.com/t-shirt/3548978-stan-lee-excelsior
I agree Excelsior and Matthew.
Those who’ve doubted that gold’s 2015 low was the bear market low probably never looked at gold priced in the 30 year US T Bond ($GOLD:$USB). Gold is now worth 37% more of that “safe haven” and is about to break out for another big run higher. Perhaps this event will give silver what it needs to turn up vs gold.
https://stockcharts.com/h-sc/ui?s=%24GOLD%3A%24USB&p=W&yr=7&mn=8&dy=0&id=p14936693850&a=672979521
Also if one looked at the inflation adjusted gold price you would also see the one should have been starting to purchase gold in 2015 as they should have in 2001.
https://s3-us-west-2.amazonaws.com/gs-live/uploads%2F1536602670694-goldinf.png
Absolutely.
Great points guys!
plus 2
Great job as always JMiller.
On June 25, 2019 at 5:25 pm,
OOTB Jerry says:
SO WHAT IS NEW>>>>>>LIKE DUH…..
https://www.zerohedge.com/news/2019-06-25/merrill-lynch-caught-criminally-manipulating-precious-metals-market-thousands-times
nobody will go to jail and MLCI entered into a non-prosecution agreement and agreed to pay a combined – and measly – $25 million in criminal fines, restitution and forfeiture of trading profits.
BIG DEAL………..NO BODY GOING TO JAIL>……..Until they start going to jail , nothing will change……just ONE BIG JOKE>>>>>>CFTC, should be in jail.
EVERYONE SHOULD LISTEN TO …….https://youtu.be/d1m9ghD66-A?t=83
Provide by CFS……GOT PHYZ….
Gold price ignites as top gold ETF hits record inflows
Frik Els | June 24, 2019
https://www.mining.com/gold-price-ignites-as-top-gold-etf-hits-record-inflows/
Dan Popescu @PopescuCo
“Gold: Last night (Jun. 24, 2019) Russian legislators passed a draft bill to the Duma, the Russian Parliament, to remove the 20% VAT on investment #gold (highest VAT on investment gold in the world).”
“Expected to lead to structural change in Russian Gold Market. ”
https://twitter.com/PopescuCo/status/1143506389513506817?s=19
Cool Video: Sketch of Bullish Case for Gold
June 25, 2019 – Marc to Market
“Many of the reasons the gold bugs cite would seem to justify owning gold bullion not paper claims on gold, like gold mining companies or gold ETFs. The cost of insuring and storing can eat away at the return on the non-yielding asset. On top that, interest rates may be understood as the opportunity cost of owning gold (foregone income stream). There are roughly $13 trillion of negative yielding bonds. In the US, the market is pricing in 75 bp of cuts in the Fed’s next four meetings. Other countries, bar a few, are considering easing policy. If rates are going to be lower for longer, the opportunity cost of owning gold falls. ”
“The tensions in the Gulf, which still seem more likely to escalate than dissipate.”
“As the US weaponizes access to the dollar market, other countries and investors search for alternatives.”
“Regardless of how Trump and Xi’s talks go this weekend, I think that the US and China have entered a second Cold War.”
“A bullish gold outlook dovetails with my argument that the third significant dollar rally since the end of Bretton Woods has ended. ”
“Fiscal policy has tightened, and monetary policy is set to ease. It has been years since the major central banks intervened in the foreign exchange market.”
http://www.marctomarket.com/2019/06/cool-video-sketch-of-bullish-case-for.html
With Gold’s ‘Aggressive Move’ Up, Gold-Silver Ratio No Longer Matters: BMO
Anna Golubova – Tuesday June 25, 2019
How stupid can people be?
My stupidity comment refers to GLD
Interesting……….the silver might belong to China……and JPM, only a storage company….
I remember talking about that years ago…..That China loves silver…..
GOOD comment on the GLD and SLV………..they have no phyz…..what a HOOT>
Another CON GAME>
Is it time for more of the JP Morgan court case data to come out in which they admitted guilt in manipulating Silver, Gold, Currencies, and Treasuries, with several other centrals that just so happen to own most, if not all the shares of the Federal Reserve? Does the G20 meeting this week have anything to do with this as well? This week is the gravy for the goose. Today the July Options come off the board, after 2 years of wonder, and still the deliveries are happening but in a cloaked manor, which will be ironed out soon enough in price. All we have to do is stay in position and wait. Tomorrow is also the last trading day for the June Silver deliveries, and with this Resolute buyer doing his thing at the same time Comex is cloaking, the intrigue we have seems to be right out of a Sir Arthur Conan Doyle story involving Sherlock Holmes.
Enjoy your day, keep those precious metals in your hand and away from the markets, and keep buying the physicals! Why? Because even the search engine “Google” is against the truth, cloaking all the evidence we know to be true. With all these entities going against us, it only makes us Resolute! “The facts are real”, as Sherlock Holmes would say, I can imagine Mr; Holmes would also say “knowledge always allows us the ability to …
Stay Strong!” …..Lifted from jsmineset…..