What Happens To Gold And Silver Next? Look Out Below?

Central banks manipulate the money supply all the time via 'printing'. They can do the same with 'paper' commodities such as gold and silver. Accusations toward Deutsche Bank last year, $100 million + selltlement.

Gold and silver look constructive here and if they can keep this going, some key numbers on the chart will start to show more strength.

For gold, getting over 1264.90 would signal more strength coming in and the overall price structure improving.

On silver it is getting over 18.54.

The coming weeks will be interesting.

Constructive week for gold last week and any traders swing trading gold on shorter time frames were paid handsomely last week as price jumped higher.

For this week we are looking to see if

1- the PMs can hold on to last weeks gains

2- on a shorter time frame prices- for gold, getting over last weeks high of 1234 and silver at 17.58 would greatly increase the probabilities for higher prices this week.

The key numbers on a longer time frame, for the coming weeks is if 18.54 can breached on the upside for silver and 1264.90 on gold. Breaking these higher greatly increases the probabilities for gold and silver to march even higher. Time will tell.

one final observation is in regards to the miners. They look like garbage. After a few weeks of holding up versus the PMs, now the miners look awfully weak and not running with the metal. Some traders take this as an early warning sign that the PMs are going to fall. In some cases, it has been noted that the miners start dropping in advance of large drops in the PMs. This is not always the case as correlations come and go but it is something to keep an eye out.

As always, be patient and watch the price action.

Time is running out on me so let me be brief here-

The key number, the most important one remains 1264.90, for gold to break that. From there we'll see what happens but thats part of step one if you are wanting higher prices.

For silver the key number is breaking above 18.54.

Until these areas in price are broken, its hard to really look with interest at gold and silver. IF/when we hit these areas, we will then need to see HOW price reacts in these areas, whether they hold to their gains for give them back up.

Be patient, dont get ahead of yourself and make predictions, just follow price and time and the market will show its hand.

@ilikeikes

The miners, I dunno, I look at them and I see very little to be excited about if I was looking for a trade on the buy side.

I look at them, and they all look like they are one step away from deaths door step. I mean that like right now. Who knows, maybe in a few days the picture changes. I dunno. But as it stands right now, this moment, miners look like garbage, I could care less about them.

The other negative on the buy side is silver. Up already, what like 8 days in a row. This is a very very CRAPPY set up if its going to break that number I mention in the post above, chances are very high it does from here it will roll over, again. It would be better a set up if it gradually based into that price target to break it with authority. Is it possible that it does it from here. Sure but its not the BEST, IDEAL set up.

Gold looks much better making its move into the price break out Which is why I prefer gold over silver, silver seems to suck in those looking to do more with less. Both metals are volatile like heck but silver will always be the red headed step child.


I would wait for our cash markets on the S & P to open, when they do at 9 30 AM EST and see what gold does and then see HOW they close, both gold and the S and P. BTW, pits close in the afternoon for gold, before we close our cash markets.

Right now the futures dont mean much, for now.

so gold and silver holding in a range this week. Thats constructive.

However, big clues could be coming as early as next week. We see that silver closed on the higher end of the range and gold bounced off the low end of its range.

this weeks sideway action could help set up silver and gold to break important price points that would bode well for those wanting higher prices.

more later

Common stock with a yield of 9% is almost certainly just, if not more risky.