Gold and Silver Markets Blog

Deflation / Inflation revisited. Deleveraging vs Hyperinflation; the Fed vs the free Market. 2012-01-24

2012-01-24T14:02:00.000-08:00

I have just listened to the ultimate hyperinflation guru, John Williamsd of the excellent www.shadowstats.com on Jim Puplava's Financial Sense Newshour and straight afterwards, I am now listening to the ultimate deflationist, Robert 'Bob' Prechter on GoldSeek radio. Yesterday, I listened to Ian Gordon on Jay Taylor's show and before that I have listened to the always interesting Bob Hoye on

Gold now bearish, SIlver more bearish! 2011-12-20.

2011-12-20T15:53:00.000-08:00

OK, it's been 4 weeks since the last p[ost by me. I couldn't believeit was so long. During that time, gold has done nothing positive, silvee has done nothing positive. Gold reached a breakout point at $1760 on its pennant formation and then completely broke down and smashed down right out of the pennant by a long way. Silver went under $30. Interestingly, on the Point & Firgure chart on silver

Bearish for silver, undecided for gold? 2011-11-23

2011-11-23T15:46:00.000-08:00

"You never had the things you thought you should have had, And you'll not get them now, And all the while, in perfect time, your tears are falling on the ground No, No, No don't cry..." Hey, that's the story of my life and maybe the story of the goldbugs' and especially the silverbugs' life! Are we still gonna get the big drop to $1400 gold and $20 silver? Well, these charts say

Clive Maund bearish, my call on Fresnillo and the Pt:Au ratio breakdown. 2011-10-02

2011-10-01T14:41:00.000-07:00

I liked Clive Maund's commentaries on silver recently: http://www.kitco.com/ind/maund/sep262011_silver.html As someone interested in the silver miner Fresnillo that is on the UK stock market (I live in the UK and have some Fresnillo shares), I had noticed a magnificent bearish rising wedge pattern that had formed as it made repeated new highs in the face of poor performance from silver and

The bearish rising wedge in Fresnillo was bearish! + 2011=1933? 2011-09-22 2213 UK time BST

2011-09-22T14:21:00.000-07:00

Two posts ago I observed the bearish rising wedge pattern in Fresnillo the key silver miner. Well, that pattern has indeed worked out and was indeed bearish! Please note: This is not investment advice in any way, merely a market observation about a stock that (unfortunately right now!) I do own to a small degree. Here's a little idea. If this crash thing in the markets continues with

The platinum:gold ratio a sign of credit crunch #2? 2011-09-20 1858 BST UK time

2011-09-20T10:44:00.001-07:00

Here is a great chart. This is the chart of the platinum:gold ratio from stockcharts.com. Recently, the ratio has dipped below 1.0, a rare and remarkable thing for recent years. I have been wondering whether it would be a good idea to swap some gold for platinum but here in the UK there is a prohibitive VAT tax on platinum of 20%, isn't that outrageous? That tax is on most things by the way;

Is this a perfect rising wedge pattern? 2011-09-12

2011-09-12T14:30:00.000-07:00

I was looking at the new highs of silver miner Fresnillo thinking, "Great! I own some of this stock and it's going up repeatedly to new highs!" A little later, I read an article on bearish rising wedges and then I thought, "Uh oh!!" Here is the chart: Oh well, the chart won't come up on my stupid computer. Look at it here!: http://stockcharts.com/freecharts/gallery.html?FRES.L and tell me that

Gold - are we at Point Z already? P&F and daily charts look like silver

2011-08-27T11:14:00.001-07:00

The charts of gold and silver in the last post showed some similarities over a period of a couple of years and my wondering whether the move in gold this August to next May could follow the move in silver August 2010 to May 2011 in a magnificent top. The gold move has been more parabolic than the silver move was in the early stage of its rally from $18 to $50. The action in gold is a bit like

Two similar charts - gold and silver a year apart: possible gold target $2690. 2011-08-17 22:22 BST

2011-08-17T14:41:00.000-07:00

Take a look at these two charts. Look at the similar features. They are stockcharts.com public weekly charts in the gallery view mode for Gold and Silver. i noticed the uncanny similarities a couple of months ago and labelled the features. Then I lost them! So now the breakout has occurred, I re-did them and the similarity seems to gel. Here they are: The first feature I

We know that over here, Lord Keynes said that gold was a barbarous relic but he is a dead western economist and he's irrelevant now. It's what the Asians think that matters most.

2011-08-07T15:55:00.000-07:00

Robin Griffiths on Jim Puplava's Financial Sense Newshour last weekend: Technician Robin Griffiths is Bearish on Equities, but Likes Gold "We know that over here, Lord Keynes said that gold was a barbarous relic but he is a dead western economist and he's irrelevant now. It's what the Asians think that matters most." Tonight he is proved correct. Gold opens in the Asian market on Sunday night

$1650 gold target reached. Congratulations to Jim Sinclair! 2011-08-02 20:20 BST UK Time

2011-08-02T12:25:00.000-07:00

Just after I posted the last blog entry, I looked at my CMC Markets trading screen and gold spiked up just over $1650 per ounce. That is the target that Jim Sinclair has been quoting for almost the entire length of this bull market, since about 2001 I think. I am pretty sure that I remember seeing it myself in his articles as early as mid-2002. Even so, his later forecast of a date of January

Missing the GATA conference but a bit richer! 2011-08-02 19:58 BST (UK Time)

2011-08-02T12:12:00.000-07:00

Well, the GATA conference is sold out. It's a star-studded event with Sinclair, Sprott, Embry, Rickards, Davies, Salinas-Price and others, inclusing the Murph! A real goldbugs' fest. It's sweltering hot here in the English Midlands and London is even hotter. Maybe storms are coming. If Al and Roger were there from Korelin Economics Report, I might have been even more interested in going to see

New meaning to 1000 gold - 1000 Pounds Sterling! 2011-07-18 21:46 BST

2011-07-18T13:49:00.000-07:00

There is now a new significance to 1000 gold. When I started this blog, gold was challenging its old 1980 high at $850 in late 2007. It then hit $1000 in 2008 before the credit crunch. One thousand Euros gold €1000 came in 2010 in the teeth of the first real show of the Greek crisis in the Eurozine. Now, today, gold temporarily hit £1000, 1000 pounds sterling, my country's ever depreciating

Gold breaks out to new highs! 2011-07-16

2011-07-16T06:33:00.000-07:00

Gold breaks out to new highs! This has been something of a surprise to many of us, all except James Turk who has been saying we were going to get a big summer rally in gold like in 1982. Perhaps the danger of a bigger drop in gold and silver has diminished a lot with this and $32 may be the floor for this silver correction with $1470 the floor for the gold correction. It appears the correction

Gold and silver - summer coming - tedium in the extreme. 2011-06-07

2011-06-07T04:57:00.000-07:00

*YAWN!* We have continuing rally in gold and silver from the lows about a month ago. Who knows where or whether it is going to stall? looking at the charts since the May tops, gold at $1548.20 has retraced most of its downmove, more than 61.8% of it, more like 75% in fact. Silver has been much more tepid. It hit its head three times on overhead resistance after retracing close to 38.2% of the

Silver $22.77 target? I hope not! 2011-05-11 22:02 BST

2011-05-11T14:04:00.000-07:00

Silver $22.77 target? I hope not! I saw gold and silver both slowing down in their rally yesterday (Tuesday). Gold was approaching very near its 50% retracement of the downmove, at $1520.19 on my chart and silver near a 38.2% Fibonacci retracement of its down move, at $39.44. Both looking a bit toppy. Interestingly, these Fib levels were also support and resistance where short-lived trading

Silver: 38.2% retracement of entire 2008-2011 move reached 2011-05-05

2011-05-05T14:53:00.000-07:00

var addthis_config = {"data_track_clickback":true}; The retracements for this selloff in silver have been analysed by Roger Wiegand and Ben Davies with respect to the move from the last low of $26.35 to the high of $49.75 to give an idea of the story so far. I wondered if the correction might be in respect to the entire bull market

SILVER SMASH $6 IN 15 MINUTES - DID YOU HEAR IT HERE FIRST? 2011-05-02 0052 BST

2011-05-01T17:10:00.000-07:00

I watched the opening of Asian gold and silver trading. Gold gapped up about $10 on the start at 11:30 pm British Summer Time (BST) on Sunday night 1 May 2011. Silver ralled about 30 cents, then ... I was reading some articles and listening to a podcast. When next I looked at my trading screen I saw a huge drop on the silver chart. I coudn't believe the scale running down the side. From about 48

Roger Wiegand intuitive and technical spot on again. 2011-04-26

2011-04-26T08:52:00.000-07:00

On Jay Taylor's show last week segment 5 for http://www.miningstocks.com/radio/jayradio.php , Roger Wiegand said that we should be very careful at the $48-51 level for silver because there would likely be a correection on profit taking or an expectation of a top at the old top from 1980 at the $50 level. He said the correction could be $5 or even larger, up to $15. He was correct! As silver

Leverage of silver to gold getitng insane? 2011-04-25

2011-04-25T08:32:00.000-07:00

I listened to Bill Haynes and Dan Norcini on King World News weekly metals wrap this weekend 23 April 2010. http://kingworldnews.com/kingworldnews/Broadcast/Entries/2011/4/23_KWN_Weekly_Metals_Wrap.html Bill Haynes said the market is getting a little frothy looking at the trading at his shop. Also, for every $ invested into gold, $2.50 going into silver at CMI Gold and Silver. He said silver may

Silver parabolic move started at $40 a few days ago: 2011-02-22

2011-04-22T05:57:00.000-07:00

Silver has started its parabolic move at the price point of $40 a few days ago (see chart). Up to that point the price was still below the original trendline extended from the 10 cents/day rissing trend channel in August/September 2010 that also contained the intermediate top on 2 January 2011. There has been a clear break above this now. For how long will this continue? It has been in place

Comment on Ross Clark's analysis $43 silver $1600+ gold 2011-04-22

2011-04-20T08:01:00.001-07:00

I just commented on Ross Clark's latest interview about gold and silver on Howe Street: http://talkdigitalnetwork.com/2011/04/debt-threats-work/#comment-338 Interesting as always from Ross. However, is there not something of a contradiction between the upside target of $1550-1600 for gold and the $40-43 target for silver that has already been exceeded. Silver is still moving more than twice as

Ross Clark's Silver Exhaustion Alert vs Ronald Watson's SLI. - 2011-04-14

2011-04-14T12:28:00.000-07:00

In reply to Howe Street Broadcast by Ross Clark this week: http://www.talkdigitalnetwork.com/2011/04/silver-exhaustion-alert/ I was reading some old articles by Roland Watson who used to write on silver and he had a thing called the Silver Leverage Indicator or SLI. It is based on (or is in acuality) the rate of change of silver divided by the rate of change in gold (in percentage terms I guess

Praying for the people of Japan. 2011-03-14

2011-03-14T10:04:00.000-07:00

At our Church here in England on Sunday we prayed for the people of Japan in their time of crisis. Everyone here is shocked at the tragedy that has occurred there. The English reporter Jon Snow of UK Channel 4, reporting from Sendai said in the evening news that he found the response of the Japanese to their crisis to be impressive, with so many resources and such a high level of discipline among

Gold and silver may be on the brink of a breakout - 2011-03-01 1757 GMT

2011-03-01T09:56:00.000-08:00

it looks like gold and silver may be on the brink of breakout. Gold at 1429 and silver at 34.54. They are making a hard job of it. Lots of congestion with the old gold triple top from late 2010 at 1423.60, 1424.40 and 1430.60 providing resistance. Silver is near its recent high from last Monday night at 34.4 just in a tight trading range not doing anything while gold battles up through the

Completion of a ABC correction in silver and gold? 2011-02-25

2011-02-25T03:16:00.000-08:00

Well it’s 11:04 GMT London time on 2011-02-25 Friday. It’s been an interesting week of contradictory silver and gold action. They made a high Monday night and silver took a $2 fall. Tuesday, silver made an almost perfect bullish pennant pattern and there was no breakout. The price line just ran out of the apex of the pennant after hugging the upper line looking ready to break out. Gold meanwhile

Correction and bullish flag in silver all in one day? 2011-02-22

2011-02-22T12:27:00.000-08:00

Fabulous correction in silver today! A $2 correction and what might be a bullish flag or triangle with apex at $33. As I write at 2:00, the apex os the triange is 3.5 hours away according to my chart (that would be 23:30 GMT london time). Will we get a breakout or what? It could have done enother leg down earlier to do a Fibonacci 38.2% or 50% correction of the breakout from the Christmas high of

Just a personal opinion. My call on silver. 2011-02-21 2:54 am GMT

2011-02-20T18:50:00.000-08:00

I think silver is going to make a Three White Soldiers candlestick pattern and go into a power uptrend on this breaout from $31. So I thought that this Monday 21/2/2011 will be the third white doldier and will breakout form the trend channel that has formed on the rally that took the price back to $31 after the correction from $31 to $26. I have reasons for this and will try to post some

Tullow Oil Interesting New Breakout and Chart: 2011-02-09

2011-02-09T08:32:00.000-08:00

Tullow Oil has recently broken out of its funk of the year 2010 when it went nowhere. It recently broke out to 1400p in the last couple of weeks. This is interesting because this is a breakout above a previous high of a year ago at about 1360p and a possible breakout from what looks like an inverted Head and Shoulders pattern lasting a year. These charts are bring placed here to test whether

Possible Head & Shoulders top in gold ... and the Euro? - 2011-01-17

2011-01-17T13:10:00.000-08:00

OK, here are a couple of charts, firstly of a piddly Head and Shoulders top in gold that is being made a meal of by some analysts and also of a bigger H+S top in the Euro, which has a potential target similar to Roger Wiegand's commentary on: http://www.kereport.com/2011/01/14/media-news-gold/ entitled Media, the News and Gold. Gold has a tiny H+S top at the moment; the target may be around

Blowing a silver trumpet - review of silver 2010 - 2011-01-16

2011-01-17T09:16:00.000-08:00

Well, I am quite proud of my silver $30 target as suggested in Inverted Head & Shoulders in silver: Target $30? 2010-10-17 . The chart was this one: Now for a look at today's chart (daily ticks) coutesy http://www.stockcharts.com/ . What happens next? "I have absolutely no idea!" as Doc Morrisey used to say in the wonderful 1970s comedy series 'The Fall and Rise of Reginald Perrin'.

Carlos Slim richest man and silver / Fresnillo rumour re-hashed, again! 2010-01-04

2011-01-04T13:50:00.000-08:00

Wow, talk about old news! I was a bit disappointed when I read about this on the King World News (KWN) blog and then did a google search to see if it was new stuff. A quick google search shows that this Slim/Fresnillo thing looks like an old chestnut going back to May 2010 ... or even August 2007! Silver bugs will have to do better than that! It sounds like desperate hype. Pity. I was

Inverted Head & Shoulders in silver: Target $30? 2010-10-17

2010-10-17T14:51:00.000-07:00

I just read this article by Bill Downey of goldtrends.net with a few nice charts of the silver breakout. http://news.silverseek.com/SilverSeek/1287239018.php I decided to look at the weekly silver chart on stockcharts.com because there seemed to be a likely inverted Head and Shoulders pattern dating back to March 2008, with a breakout in August 2010. Here is my annotated chart: Anyway, the

Breakout in HUI Gold Bugs Index at last? P&F chart. 2010-10-13

2010-10-13T14:50:00.000-07:00

Although a breakout in the HUI Gold Bugs index of 'unhedged' gold miners has been touted for a few days, a quick look on stockcharts.com revealed today that the Point and Figure chart is now actually showing an 'Ascending Triple Top Breakout' as of 13th October 2010. Here is the webpage - the P&F chart is the bottom one in this gallery view of daily, weekly and P&F charts: http://stockcharts.com

$941 MAGIC NUMBER for gold for Jon Nadler and Jeffrey Christian 2010-10-09

2010-10-09T07:40:00.001-07:00

$941 The MAGIC NUMBER for gold I listened to the interview with Jon Nadler, dubbed the "uber bear" on gold somewhat unfairly perhaps on the Korelin Economics Report last week. The interview can be found here: http://www.kereport.com/weekendshow/weekendr-oct0210-seg4.html It was quite interesting because he recommends 6-10% of one's portfolio in gold as insurance but refuses to be bullish. In

Jon Nadler dragged out for bearish propaganda on gold - 2010-09-27

2010-09-27T10:56:00.000-07:00

If you want to throw up, listen to the latest interview with gold 'permabear' Jon Nadler. http://media.kitco.com/weeklyreport/JNadler-Sept-23-2010.mp3 I do recall that he was looking for $740 gold in 2009-2010, wasn't he? Anyway, he says gold is coming into mania / bubble territory. Get this. He says gold may overshoot in and top in the next 9 months. That is his 'sell by' date on the gold

Update to Jim Sinclair type gold estimate vs US debt - 2010-09-15

2010-09-15T08:43:00.000-07:00

This follows on from my two posts in 2008 (that long ago?!) estimating the fair price of gold needed to balance external US debt liabilities. At that time the gold price needed was about $8300 per ounce. $8387.96 Gold & US Balance sheet #2! 2008-07-18 Estimate gold market @ $8355+! 2008-07-18 Now it has changed. The US debt has increased a lot since then! These $8300 figures were taken from

The end of the euro as a sound currency? 2010-05-10 15:43 BST

2010-05-10T07:41:00.000-07:00

Happy Monday today? Well it is for anyone who needs a loan in Europe! http://www.reuters.com/article/idUSN1019810320100510 "US STOCKS-Wall St set to soar on euro-zone rescue plan." "NEW YORK, May 10 (Reuters) - U.S. stocks were poised to jump about 4 percent at the open on Monday after a $1 trillion global emergency rescue package was launched, quelling contagion fears and sending European

An Astronomy lesson from Zimbabwe and the USA. 2010-01-15

2010-01-15T13:37:00.000-08:00

Friday 15th January 2010 at 21:36 GMT I must be in need of something better to do. When I was little, I used to do sums in my head for amusement and I decided to try some mental arithmetic last week to see if I could still do it! I rememeber considering the US government's debt a few years ago, when it was 6 trillion dollars. I realised that this was in fact an astronomical sum, literally. You

Record debasement of British Pound! : 2009-11-25

2009-11-25T08:58:00.000-08:00

Don't worry, these are not British pounds - we are not there (yet)!Wednesday 25th November 2009 at 16:58.So the record high in gold in pounds Sterling gives a new record low for the British pound in terms of gold. Let's see just how much our government and bankers have managed to debase the pound over the last century.Easy to calculate. The present value of the £ compared to its value under the

New gold highs in Sterling! : 2009-11-25

2009-11-25T08:20:00.000-08:00

Wednesday 25th November 2009 at 16:26.I blinked and I missed it! Over last weekend the gold price zipped past its old all-time high in pounds Sterling of around £693 per ounce set around the beginning of February 2009 and has registered six London Fixes all above £700.Today 2009-11-25 : GBP 704.45 706.73Yesterday 2009-11-24 : GBP 708.81 703.30Monday 2009-11-23 : GBP 702.41 702.87compared to last

What would be bullish for gold? 2009-11-25

2009-11-25T07:13:00.000-08:00

Wednesday 25th November 2009 at about 16:00.If India's Central Bank bought the remaining 200 tonnes of IMF gold. That would be bullish for gold.What about China? Well, they have been said to have purchased 454 tonnes since 2003. See this article:China admits to building up stockpile of goldhttp://www.financialpost.com/news-sectors/story.html?id=1530063"...country's [China's] reserves had risen by

Jim Sinclair's Swiss Stairs in Gold: 2009-11-21

2009-11-21T03:50:00.000-08:00

Jim Sinclair's Swiss Stairs in Gold!Saturday 21st November at 11:50 amIn his great interview on King World News:http://kingworldnews.com/kingworldnews/Broadcast/Entries/2009/11/13_Jim_Sinclair.html ,Jim Sinclair talks about the Indian Central Bank's purchase of 200 tonnes of gold from the IMF. He mentions that he could see some market action indicating central bank buying in the gold chart in the

Fabulous interviews:Eric King with Jim Sinclair and Pierre Lassonde: 2009-11-21

2009-11-21T03:40:00.000-08:00

Fabulous interviews:Eric King with Jim Sinclair and Pierre Lassonde: 2009-11-21Saturday 12st November 2009 at 11:43 amTwo really superb interviews by Eric King (two of many, a superb site) were put on last week. One is with the legendary Mr. Gold, Jim Sinclaur, the other is with Pierre Lassonde, former boss of Franco-Nevada and Newmont Mining.Jim Sinclair:http://kingworldnews.com/kingworldnews/

Gold closes at weekly high for second week! 2009-11-21

2009-11-21T02:50:00.000-08:00

Gold closes at weekly high for second week! 2009-11-21Saturday 21 November 2009 at 10:51Here are the closing prices from Kitco on Friday night:Bid/Ask: 1150.90-1151.90Low/High: 1150.90-1151.90So it closes at the exact high at the end of the week. I have heardly ever seen this before in 8 years watching the gold market. Except for last week, when gold closed practically at the high on Friday's

Forecasting skills of John Nadler = C-minus. 2009-11-13

2009-11-13T14:33:00.000-08:00

Forecasting skills of John Nadler = C-minus. 2009-11-13It was time to take a look and try to find what perennial bearish John Nadler at Kitco who is the wet blanket for all gold investors had forecast for the 2008 price. I seemed to recall that he mentioned about US $740 as the price for gold for 2009 but I might have been wrong, so I listened to some downloaded interviews and then google'd a bit

25 Gold Prices over $1000! 2009-10-08

2009-10-08T14:59:00.000-07:00

Thursday 8th October 2009 at 23:0325 London Gold Prices over $1000!Taken fromLhttp://www.kitco.com/gold.londonfix.htmlPast Historical London Fix - Current YearDateGold AMGold PM2009-10-071047.001040.252009-10-061020.251038.752009-10-051004.251005.502009-10-02998.001003.502009-10-011005.751004.752009-09-301001.25995.752009-09-29991.75989.502009-09-28990.50991.752009-09-25997.00991.502009-09-

Alert: Martial Law in the UK 2009-10-07

2009-10-07T02:48:00.000-07:00

Alert: Martial Law in the UK 2009-10-07Wednesday 7th October 2009 at 10:50 am:So the cat is finally out of the bag. We were due for martial law in the UK as the banking system collapsed in late 2008. See this Bloomberg story.http://www.bloomberg.com/apps/news?pid=20601087&sid=aMfETcYI2t7YIt reads almost identically to rumours from the meeting in US government circles in 2008, when some so-called

Gold conspiracy, quantitative easing, OTC derivatives 2009-09-14

2009-09-14T12:09:00.000-07:00

Gold conspiracy, quantitative easing, OTC derivatives 2009-09-14Monday 14th September 2009 at 20:17 BST:Some interesting links, money and gold conspiracies, OTC derivatives nightmares, dehedging in a hurry and China.Blog here, interesting:http://jessescrossroadscafe.blogspot.com/Article on Barrick, not too sanguine about them:http://news.goldseek.com/GoldSeek/1252609733.phpJim Sinclair says OTC

Last chance for gold under $1000? 2009-09-13

2009-09-13T14:11:00.000-07:00

Last chance for gold under $1000? 2009-09-13Sunday 13th September 2009 at 22:40 BST:The market seems enthusiastic to push gold above $1000 but some analysts are now not so sure:Bob Hoye on http://www.howestreet.com/ expects that gold and silver prices have had a good run but that it may come to an end with the gold:silver ratio going up again as silver and other commodities fall relative to gold

Gold - a torrent of news China, Barrick etc. 2009-09-09+

2009-09-10T15:27:00.000-07:00

Gold - a torrent of news China, Barrick etc. 2009-09-09+Wednesday 9th September 2009. 09/09/09 09:09:09 hrs onward:1. China may default on some derivatives contracts, especially in oil.China threatens to default on oil derivatives trades - BloggingStocks ,WRAPUP 1-US commodities rattled by China derivatives stance ...http://www.mineweb.co.za/mineweb/view/mineweb/en/page72068?oid=89018&sn=Detail2.

SP500 and Dow Jones Megaphone charts 2009-09-07

2009-09-07T10:03:00.000-07:00

S&P500 and Dow Jones Megaphone chartsMonday 7th September 2009 at 18:04Here are two charts of the S&P500 and Dow Jones with megaphone (top?) formations, as described in my previous post:Inflation Deflation debate on financialsense.com 2009-09-06I think that they may indicate increasing episodes of alternating deflation and inflation that may continue to alternate leading to some kind of collapse

Inflation Deflation debate on financialsense.com 2009-09-06

2009-09-07T09:02:00.000-07:00

Monday 6th September 2009 5:03 pm:Inflation Deflation debate on financialsense.comBon Prechter the archetypal deflationist was interviewed by Jim Puplava on http://www.financialsense.com/ this Saturday. Very interesting. He admitted that he hadn't expected that there would be one last 'final' reinflation after the recession of 2001 (he had expected the deflaiton to start in 2000-2001), but he was

7 months later, still under $1000 - 2009-08-13

2009-08-13T15:54:00.000-07:00

2009-08-13 at 23:55: 7 months later, still under $1000Wow, I am back online. In the last few months, I was looking after my elderly Dad, who has now sadly passed away, God bless him.During this time, nothing much has happened. No significant new bank meltdown, gold still consolidating under $1000, so I didn't miss much in the gold world.

Obama with more power than Bush 2008-01-30

2009-01-30T05:21:00.000-08:00

Obama with more power than Bush 2008-01-30 1:26 p.m.<<>>Who said that? I like it. It's a good quip.I was a bit amazed by how Obama was saying in his speech about all these things that the Americans need to build, you know, railroads, roads, bridges and all the like. Maybe oil refineries would be a good idea too!Anyway, one might wonder where is the money for all this stuff and of course it will

Did we have Hyperinflation already?

2009-01-14T06:27:00.000-08:00

Hyperdeflation scenario:Could we get hyper-deflation of the $500 Trillion derivatives pyramid - a total and instantaneous deleveraging? This could all happen in a single day or even a single hour and no-one will be able to get out of the way. It could come like a thief in the night.Hyperinflation scenario:However, if the Fed succeeds in stopping this process or event, it will mean that they will

Forecasts for 2009.

2009-01-14T05:17:00.000-08:00

Well, not much happened since I last posted here. Apart from the near total collapse of the entire Western world's banking system and the near fulfillment of 'The Fall of Babylon' from Chapter 18 of the Book of Revelation in the Holy Bible.Apart from that, pretty uneventful, then.Everything that happened was predicted long ago on such talk radio shows as http://www.financialsense.com/, http://

GOLD: Bearish sentiment, bullish action? 2008-09-22

2008-09-22T15:16:00.000-07:00

Monday 22 September 2008, 11:19 pm: GOLD: Bearish sentiment, bullish action?I was just doing an eBay listing from a template that I originally created on 22 September 2007.Look at how the gold price has changed since then, even despite the bearish sentiment over the summer! Look at the devaluation of the Pound!US$ gold price gone from 731 to 902 !£ Sterling price gone from 361.81 to 485 !This is

US Bond Default imminent? 2008-06-21

2008-09-21T10:23:00.000-07:00

Sunday 21st September 2008 6:24 pm: US Bond Default imminent?Well, no emergency measures came this weekend from the Fed or the Bank of England, since they need to rest after spending most of last week on last weekend's emergency measures! Note that the emergency last week lasted from the previous Friday to the next Thursday, almost one full week.The post-bailout stock market rally then came on

Systemic bank collapse -> Dictatorship? 2008-09-19

2008-09-19T11:20:00.001-07:00

Conclusions from this week's disastrous financial events mentioned in the previous post:In the end, what conclusion can we draw from all of this?1. The entire US/UK financial system is broke, busted, caput.2. The rescues and manipulations of this last week are quite extreme and they attest to the above.3. The true state of affairs is being hidden from public view to prevent a panic and runs on

Broken banking system + market manipulations 2008-09-19

2008-09-19T11:20:00.000-07:00

Friday 19th September 2008 7:21 pm: Broken banking system plus market manipulations.To say that they 'cannot be allowed to fail' defines that they are above the law!The past week has been a most eventful one in the financial markets, the most eventful since The Great Depression.1. Lehman Brothers is busted and in Chapter 11 'Bankruptcy Protection'2. Merrill Lynch had a 'shotgun wedding' takeover

Kitco shortage and bear commentaries! 2008-08-19

2008-08-19T03:16:00.000-07:00

Tuesday 19th August 2008, 11:00 am: Kitco shortage and bear commentaries!At the sametime as Kitco announces a shortage of all bullion products on their website, there goes their mouthpiece John Nadler again, talking gold down. This guy has to have an agenda. Is he short gold?Gold is down a long way BUT it is still 20% up on a year ago. Nowhere does he mention this; he just pounds the bearish case

Proof of manipulation? 2008-08-16

2008-08-15T15:01:00.000-07:00

Friday 16th August 2008, 11.01 pm: Proof of manipulation?Some advocates of gold and silver investment have made much of the alleged lack of silver supply. Some bullion dealers ran out of finished product (1oz coins and small bars) but John Nadler of Kitco repeatedly stated that you could trip over piles of 1000-ounce bars in the vaults around the world.Now tonight, this notice appeared on http://

Targets met! What now, 1974? $550? 2008-08-11

2008-08-11T13:47:00.000-07:00

Monday 11th August 2008. Targets met! What now? 1974? $550?It's 9 years since the total eclipse of the Sun in England (where it rained, of course) on 11 August 1999. Today gold is being eclipsed and rained on in no uncertain terms, together with most of the commodities.Did you read anywhere else of downside targets in the $840s from a Head and Shoulders pattern? Or were most or all the 'tout'

Head & Shoulders breakdown for gold? 2008-08-01

2008-08-01T14:24:00.000-07:00

Friday 1st August 2008: Head & Shoulders breakdown for gold?Well, it sure looks like a Head and Shoulders pattern breakdown to me! Either that or so-called 'Technical Analysis' ('TA') is just aload of waving your hands about psychobabble nonsense, so that 'technicians' can sell subscriptions for worthless investment advice that is denied as being investment advice, (i.e. the kind that often comes

H&S Breakdown for now? 2008-07-31.

2008-07-31T15:14:00.000-07:00

Hi All,Dan Norcini's chart a couple of days ago showed what looked like a classic Head & Shoulders with a price target of ... $844 on an intraday basis: top-neckline = $990-$917=$73, so the measured move is $917-$73=$844. Oops!http://www.jsmineset.com/cwsimages/Miscfiles/6406_July2908Gold1230pmCDT.pdfAs I said, a chart just ripe to be 'painted' lower by those who wish to imply that the economy

Beijing 2008. Think Sputnik 1 1957. 2008-07-30

2008-07-30T14:39:00.000-07:00

Wednesday 30th July 2008 10:40 pm : China boycott continues up to Olympics Start Day.Emanuel Balarie says here on Kitco:China, Jim Rogers, And Commodities"In Shanghai for instance, you can jump on the world’s first Maglev train that will take you from the airport to downtown Pudong/Shanghai in record time. Since the train travels at about 430 km/hour, the typical 45 min trip (via car) will only

Head & Shoulders. So much for $8000+ gold! 2008-07-29

2008-07-29T12:06:00.000-07:00

So much for $8000+ gold. We will have to wait. We are struggling to hold on to $900 right now!Here is trader Dan Norcini's latest gold chart (short term):http://www.jsmineset.com/cwsimages/Miscfiles/6406_July2908Gold1230pmCDT.pdfIt shows to me what looks like a classic Head & Shoulders with a price target of ... $844 on an intraday basis:top-neckline = $990-$917=$73, so the measured move is $917-

$8387.96 Gold & US Balance sheet #2! 2008-07-18

2008-07-18T13:57:00.000-07:00

Friday 18th July 2008, 9:58 pm: $8387.96 Gold & Balance sheet of USA. Part 2.This gets more fascinating. I have found another webpage, this time on the St. Louis Fed website, giving foreign holdings of US debt. It's called:'Federal Debt Held by Foreign & International Investors'here:http://research.stlouisfed.org/fred2/data/FDHBFIN.txtThe data gives the total foreign owned Federal debt calculated

Estimate gold market @ $8355+! 2008-07-18

2008-07-18T09:35:00.000-07:00

Friday 18th July 2008 5.37 p.m. Estimate gold market @ $8355+!Jim Sinclair had a prediction in 1974 for a bull market high of $900 for gold on this basis, quoting from his website article on http://www.jsmineset.com/ dated 2008-07-17:"In 1974 I concluded gold would rise to $900. That number represented the price gold would have to be at, times the amount of gold published as held for the US

Hyperinflation idea & key links! 2008-07-08.

2008-07-08T07:30:00.000-07:00

Tuesday 8th July 2008 4:38 p.m. Hyperinflation idea & key links!Here is my idea of the magnitude of inflation we might expect. Afterwards, I give some links to key articles on hyperinflation that I have read in the last few years.After listening to John Williams speaking about hyperinflation on the 5th July edition of radio.GoldSeek.com (2nd hour), I had an question, then an idea.The question:How

News: BoA/Countrywide and ECB. 2008-07-03

2008-07-03T15:32:00.000-07:00

Some News at last! Bank of America takes over Countrywide and ECB raises interest rates. 2008-07-03 23:33 GMTWell, it's been boring with gold consolidating so nothing to say. This blog isn't a running commentary. Let John Nadler at Kitco and the big financial news agencies waste their and your time by commenting on nothing all the time and telling you nothing of any use.Today's news is worth

Mega-move from Dow:Gold megaphone! 2008-06-04

2008-06-04T07:59:00.000-07:00

Wednesday 4th June 2008: Mega-move from Dow:Gold megaphone!Last time, I discussed the Megaphone Top Chart Pattern with regards to the Dow:Gold ratio. Look at that pattern at the link above and see if it is not almost exactly the same as the pattern of the Dow:Gold ratio in the last 70 years. Well, it is!Now, time for the kicker. What's the measured move from this pattern breakdown? Note that it's

Megaphone top in Dow:Gold ratio? 2008-06-03

2008-06-03T06:36:00.000-07:00

Tuesday 3rd June 2008: Megaphone Top in Dow:Gold ratio?In this entry I am going to repeat a lot of the previous entry because I wanted to draw attention to the pattern of the Dow:Gold ratio again. Today, I have just found a fascinating entry on the internet on the Trade Talk Weekly website, concerning the Megaphone Top Chart Pattern.Look at that pattern and see if it is not almost exactly the

Inflation/Deflation debate is BUNK! 2008-05-29.

2008-05-29T10:13:00.000-07:00

Thursday 29th May 2008: Inflation/Deflation debate is bunk.It just is.Basically, whether we get inflation or deflation, what is relevant is only whether there is creation or destruction of wealth. We seem to be entering an era where there is a likelihood of massive destruction of wealth.A period of severe inflation or deflation is at hand - and it is the result only of the destruction of wealth

Bullish De-Hedging news as Gold < $900. 2008-05-29

2008-05-29T06:19:00.000-07:00

Thursday 29th May 2008: Bullish De-Hedging news as Gold moves under $900 again.The first two articles on Kitco today, one is seemingly bearish on the surface and one is highly bullish.Gold Drops Back Below $900 - NASDAQ, May 29 2008 9:10AMGold de-hedging could reach 10m oz in 2008 - Miningmx, May 29 2008 7:24AMAs gold moves under $900 again to $889.70, perhaps to test the previous support around

Gold:Oil ratio to fall at Peak Oil? 2008-05-26

2008-05-26T07:24:00.000-07:00

Monday 26th May 2008, 3:26 p.m. Gold:Oil ratio to fall at Peak Oil?On the questions section on http://www.financialsense.com/ here: Mp3, one of the callers (Justin) made a very astute question asking if Peak Oil was the possible cause of the fall in the gold:oil ratio to 7 from its long term average of 15 and its medium term recent average of 10. Jim answered the question saying that Peak Oil is

Oil to $1000 per barrel? 2008-05-19+

2008-05-24T08:04:00.000-07:00

Monday 19th May 2008, 8:34 p.m. : Oil will be $1000 per barrel before 2020.Oil will go to $1000 per barrel.Before 2020.Everything points to that, including and especially government policies.It's only my opinion. See if it's correct.I recommend listening to the first hour of Jim Puplava's 24 May 2008 Financial Sense Newshour at http://financialsense.com/fsn/main.html. Here is the Mp3 - the

Next Leg of Credit Meltdown? 2008-05-24

2008-05-24T07:18:00.000-07:00

Saturday 24th May 2008: Next Leg of Credit Meltdown?I am just listening to Frank Barbera talking with Jim Puplava (this Mp3) on the www.FinancialSense.com newshour.He mentioned some of the American banks and monoline insurers so I went and took at look at the charts. Oh dear! This looks a bit like February 2007 and August 2007. There are some spectacular losses and some charts positioned for

2008-05-22T10:30:00.000-07:00

Another comment from me to this posting:Gold s Outlook back to $650-$750 area by Victor Adairthat refers to this 'interesting' gold bearish interview:http://www.howestreet.com/index.php?pl=/fbn/index.php/mediaplayer/277My comment was posted here:Re: Gold's Outlook back to $650-$750 area by Victor A ...Nadler says that Indian gold demand was down in 2007. I thought it was a record! See this

Re: Gold's Outlook back to $650-$750? 2008-05-22

2008-05-22T10:00:00.001-07:00

Wednesday 22nd May 2008: 6:01 p.m. Nothing better to do... so I posted on Yahoo!Another comment from me to this posting:Gold s Outlook back to $650-$750 area by Victor Adairthat refers to this 'interesting' gold bearish interview:http://www.howestreet.com/index.php?pl=/fbn/index.php/mediaplayer/277My comment was posted here:Re: Gold's Outlook back to $650-$750 area by Victor Adair which hasplenty

Interesting & VERY TELLING Inflation chart. 2008-05-19

2008-05-19T14:59:00.000-07:00

Monday 19th May 2008 11;00 p.m. Interesting & VERY TELLING Inflation chart.Gold has mounted a nice rally past $900 since late last week, with decent up moves, especially last Friday and today. Current spot market price shown on Kitco is Bid/Ask = 905.10/905.90.Now to an article by the highly instructive and perhaps more 'mainstream' writer John Mauldin, entitled The Fed at the Crossroads. His

Inflation - media pick new lower CPI vs RPI figure!

2008-05-15T15:24:00.000-07:00

Last time I wrote: "Mervyn King has played 'good cop bad cop' with the Government this week: No rate cuts for two years, King hints as inflation heads towards 4 per cent. King being the bad cop of course, basically telling us that interest rates will not come down (i.e. we are playing the German game and sticking it out to fight inflation). This article mentions that inflation may go to 4% or

Housing market down 10% in the next year? 2008-05-15

2008-05-15T15:05:00.000-07:00

Thursday 15th May 2008, 11:17 p.m. : Housing market down 10% in the next year?This week, we in the UK have been treated to a little supposed "mistake" by one of our oh-so-talented female government ministers. See here: Housing crisis: Caroline Flint gaffe reveals Government's price fears.She was seen brandishing a set of notes and they were photographed by some press paparrazo's enormous

Inflation/Deflation debate is BUNK! 2008-05-12.

2008-05-12T12:32:00.000-07:00

Monday 12th May 2008: Inflation/Deflation debate is bunk.It just is. More later...May 29th entry now copied to here:Basically, whether we get inflation or deflation, what is relevant is only whether there id creation or destruction of wealth. We seem to be entering an era where there is a likelihood of massive destruction of wealth.A period of severe inflation or deflation is at hand - and it is

Fractal gold guy nailed it at $852! 2008-05-12.

2008-05-12T09:31:00.000-07:00

Monday 12th May 2008: 5:48 p.m. : Fractal gold guy nailed it!In my previous post on 26 March (Major gold top predicted (link). 2008-03-26), I mentioned the article by David Nichols of the Fractal Gold Report thus:"Wednesday 26th March 2008. Back to $950.The gold price is back up at $950 today, but David Nichols has an article on Kitco called 'Gold in Free Fall' asserting that the $1000+ top was a

Fundamentals don't point to gold at $600 re: 1974-76

2008-05-11T15:23:00.000-07:00

Sunday 11 May 2008: 11:24 pm: Fundamentals don't point to gold at $600 re: 1974 decline!Is this 1974? Well, er, nope. OK, even if gold does go to $600, to me it looks like it might not be the end of the bull market, just the return of the price to the original slower moving curve in the price graph in existence from 1999 to mid-2005, before the rapid increase after the breakout above about $480

Fibonacci points to $600 gold re:1974? 2008-05-03

2008-05-03T10:45:00.000-07:00

Saturday 3rd May 2008 7:35 pm: Fibonacci points to $600 gold re:1974?James Turk of www.goldmoney.com has mentioned on some internet radio shows that the period at the beginning of 2008 reminded him of 1974 with the high inflation and the oil crisis, accompanied by a stock market crash.What also happened in 1974? Well, at some point real interest rates rose and there was a stock market crash.

Iraq & Mad Max are the models of the future. 2008-04-29

2008-05-03T10:42:00.000-07:00

Tuesday 29th April 2008 7:31 pm: Mad Max & the Palace State.So what could we expect in a post peak oil, post-industrial overpopulated tribal world of conflict and poverty that is the future? Well, exactly that, perhaps.I think Iraq is the model of the shape of things to come in most of the world. This makes sense to me, since they took away Saddam Hussein and swung him from a platform and in

Dubai gold demand & US weekly closes 2008-04-26

2008-04-26T09:05:00.000-07:00

Saturday 26th April 2008 5:06 pm: Dubai gold demand & US weekly closes.If there is strong physical gold demand underpinning this market from savvy creditors of the United States who might be feeling a little reluctant to add to many US$ to their central bank reserves or retirement accounts, perhaps some serious buying will emerge to prop up this market!However, Kitco links to an article that says

Hyperinflationary depression? 2008-04-26

2008-04-26T09:02:00.000-07:00

Saturday 26th April 2008 4:48 pm: Hyperinflationary depression? Howard Ruff in his Kitco article linked to a fascinating article by Walter John Williams of www.shadowstats.com that predicts a hyperinflationary depression. Grab it while you can; it's a .pdf file so you will need Acrobat Reader to read it; left-click the above link to read it or right-click and select "Save Target As" and save it.

Ominous double head and shoulders in gold to $600?

2008-04-25T15:48:00.000-07:00

Friday 25th April 2008 8:20 pm: Ominous double head and shoulders in gold Target $600?Alan Bush (probably no relation) has an article with an interesting chart on Kitco at the moment. As soon as I saw the chart, I thought, "Oh-oh!" It looks like a 'nested' double head and shoulders is forming. Potential head and shoulders tops have appeared before but this one is bigger and more ominous. There is

GOLD RECORD PRICES SUMMARY! 2008-04-24

2008-04-24T13:43:00.000-07:00

Gold Records 2007-2008 during the era of this blog:1. 21st January 1980: $825.50 NY Futures close (April 1980 contract): FALLEN! 7th November 20072. 18th January 1980: $835 London (PM) Fix: 2nd highest Fix ever: FALLEN!* 7 & 8th November 20073. 21st January 1980: $850 London (PM) Fix: Highest Fix ever: FALLEN! SMASHED! 3rd January 20084. 21st January 1980: $887.50 intraday high seen on 'the tape'

Imperial currency debasements v USA. 2008-04-21

2008-04-24T13:40:00.000-07:00

Monday 21st April 2008 9:30 pm: Ex-empire currency debasements compared.It's interesting to do a headcount of some ex-empire countries and what happened to their currencies. Greece - well their currency became tremendously debased. Turkey that was the heart of the Byzantine and Ottoman empires, both of which had nice gold coins - once the empire was gone, they had the most spectacular currency

'Demise of the service economy' 2008-04-21

2008-04-24T13:36:00.000-07:00

Monday 21st April 2008 8:30 pm: 'Demise of the service economy'Peter Schiff has an article on GoldSeek.com called The Collapse of America’s Service Economy which agrees with my point of view expressed below that the service economy is merely a transitional phase, perhaps lasting a generation, between a wealthy industrial economy and a grinding poverty post-industrial Dark Age type economy. The

Post-industrial post-gold std economy doomed. 20Apr

2008-04-24T13:28:00.000-07:00

Post-industrial post-gold std economies doomed. 2008-04-20:I listened to Jim Puplava interviewing Louis Vincent Gave from Gave-Kal research a few weeks ago. He said that service economies are less volatile than industrial or agrarian economies. Sounds good but how can it be true? Especially, I don't think that the service economy will last as long as industrial economies did as mentioned in the

China vs The West - who loses? 2008-04-19

2008-04-24T13:23:00.001-07:00

Saturday 19th April 2008: Economic volatility is INCREASING, not decreasing!Gold is still in consolidation mode, so instead, some thoughts on the state of the economy.I listened to Jim Puplava interviewing Louis Vincent Gave from Gave-Kal research a few weeks ago. Last time I heard a Gave-Kal interview I didn't agree with much that the guy said. This time, I started off agreeing with him, but

Nothing much, except the housing crash! 2008-04-09

2008-04-24T13:20:00.000-07:00

Wednesday 9th April 2008: What to report? Nothing much, except the housing crash? Well, today I am reporting that there is nothing to report. The gold price appears to be in some sort of a consolidation in the $910-935 area in the last week or so and no large move has happened since the big selloff of late March. Goldbug rumours abound that the US Government and Fed engineered the selloff,

Gold whacked - top in 'Fool's Gold?' 2008-04-01

2008-04-24T13:19:00.000-07:00

Tuesday 1st April 2008: April Fool! Or Fool's Gold?Maybe the guy who wrote 'Gold in Free Fall' was correct? Gold took a right pounding today and is now at Bid/Ask $881.20 - $882.00 at Apr 01, 2008 16:26 NY Time, 46 minutes before the Spot Market closes tonight.We are told that gold has tumbled more than 3% ($30 today) because the dollar has rallied! As I write now, spot gold is quoted at $881.30,

Major gold top predicted (link). 2008-03-26

2008-04-24T13:16:00.000-07:00

Wednesday 26th March 2008. Back to $950.The gold price is back up at $950 today, but David Nichols has an article on Kitco called 'Gold in Free Fall' asserting that the $1000+ top was a 'major, multi-month top' and there will be further falls, after a bounce to about $966. The next few days will test his prediction!