I have been looking for this type of price action for a long time and we just have not gotten it. We got into our VALUE ZONE and Gold was met with LONG TERM VALUE BUYING. We have witnessed something significant at the end of this week, a move off of the lows of more than $40 in a day. I personally cannot remember the last time we have seen this and I have been leery of most bounces in Gold lately because they just have not been this STRONG. The bounce was STRONG, it was met with an initial beat back of more than $10 but came back STRONG to make a new high during the NY session and MOST IMPORTANTLY IT CLOSED THE WEEK STRONGLY on the highs of the day.
The fundamentals have only gotten stronger as time goes on for much higher GOLD prices and this job report only made GOLD's case stronger. 88,000 jobs with expectations for 200,000- to keep up with the population growth in the US we need to create at least 170,000 jobs each month. Yes the unemployment number dropped to 7.6% however the main point is that the participation rate, the people that are involved in the work force has dropped to a level not seen since 1979. Chew on those numbers over the weekend!
I am very happy with the way the week ended with GOLD and April still has a long way to go. I am not going to waste much time on my weekend to talk about the BS stock market but I just want to point out something to you. The Dow finished only down 40 points and the S&P 500 down a measly 6 points. The INVISIBLE HAND did a great job, the Dow was down more than 170 points and the S&P more than 20 points- do not be fooled by the game that is being played with the markets!
There is so much that I would like to talk about but I think I touched on the Main Points that you should be paying attention to. Enjoy the weekend!
Thanks for reading,
Martin
yea gold finally had a good day-but one day does not make for a new trend-
ReplyDeletefound this on another blog-he makes some great points .bottom line the cartel or what ever you want to call them are in control and have been for some time--Enjoy
1-Charts do not lie. There are a slew of highly respected PMs "gurus" with extensive
followings. None we know of have been on target in the past year. Not only are the trends
still down, prices made new recent lows, again, within the trading range, but nowhere near
the "prices will reach levels you cannot believe" area. [Insert your own expectation/belief
2-The gurus may make for interesting reading with piles and piles of statistics. Western
countries are creating infinite amounts of fiat in desperate attempts to cover their lies and
confiscation of wealth via inflation, [the insidious hidden results increased fiat creates, the
transfer of wealth to governments which is far worse than the outright theft as occurred in
Cyprus]. All these compiled "fundamentals" are known factors by everyone. If they are
true, and no sane person believes they are not, then why aren't gold and silver trading at
much higher prices? Why are gold and silver back to trading range lows?
The fiat creators, the manipulators control price. If that were not true, PMs would be a lot
higher in price just on an inflation-adjusted basis alone! Almost everyone, outside of the
"insiders," is and has been under-estimating the staying power of those in power. They
will not give up control. They will resort to any means [now shockingly] possible.
Robert,
DeleteI would love to pick apart at your response but that would take me quite a bit of time.
The best explanation I have heard from the "gurus", at this juncture, that makes the most sense to me- is that Gold has been contained between 1500 and 1800 for almost 2 years now because the other nations or central banks are able to accumulate the phys at reasonable prices before the price of GOLD gets away from them!
I do not know how long you are trading gold or if in fact you are trading, I hope you have been accumulating over a long period of time, the physical. I have been trading since 2003 and in reality, I believe in ones thoughts and that is of Jim Sinclair. I remember all the ups and downs since 2003 and I cannot remember anything like this as far as Gold is concerned, very frustrating indeed!
Gold has had several nice days in the past 2 years but not like the one from this past friday! Strong all day and right into the close of the week. I am more encouraged by Fridays price action than I have been in a long time! Would I be surprised if Gold was beaten back and below 1550 on Monday- nothing surprises me anymore. I would be happy if Gold holds all the gains for the next 2 days.
If Gold does indeed 1525 on this downward leg(I do not think it will) I will agree with your theory that THEY are in control for as long as THEY want!
Hopefully we will start having some fun with this market now, enjoy the rest of your weekend!