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

Ok guys-

well, there we go, we broke out of this range that we had been in since roughly the start of Septmeber and its moving lower in the case of gold.

So, the two things I am looking now are

A. do we breach the 7/10 lows

AND

B. where is silver in all of this.

stay patient and keep watching

I definitely agree that the milestone of "below $1300" makes people see it differently

yes, exactly you two gents are spot on.

But as I have been updating this thread, those little moves, those ranges, the price action is telling a story and its giving a guide as to what will happen.

Agreed. If the first two digits of the price dont change most people wont even notice.




The bullion ones probably, the P ones though Id just go ahead and get it. No matter what spot does I dont see them ever selling those for like 50 dollars.

If you wanted to wait for the P one and see that wouldnt be the worst idea just order when the sales get in spitting distance of 20k or before december 1st and 15k if you want to make sure you get one from the mint.

Its Monday and its time to look at where we stand with gold and silver. As I like to do, lets look at our proxies, GLD and SLV.

GLD- bounced higher in the AM, even tried to get into the gap from 10/1 and solidly rejected. In fact, GLD ended the day at its lows, not a sign indicating higher prices, just plain old ugly price action.

SLV- SLV also had a late day reversal, tho it managed to put in a higher high and higher low over the close from Friday. Its still however on the lower end of the range. What we are waiting to see is whether we get a bounce to the upper end or does it continue to run lower.

In any case, the price action today supports the case for lower prices and an asset that, despite everyone saying should go higher, is stuck in a strong downtrend and broken.

@super

Well... just some points-

1- there is no market manipulation

2- for decades there has been talk of investigations, if there was any sort of investigation or even the slightest impact, it would already been noticed by the markets

3- when I hear anyone talk about manipulation especially in gold and silver, I laugh, I laugh a great deal. When prices rise in gold, no one complains. However, prices rise in crude oil, then everyone starts calling foul. Prices drop for oil and no one complains. Gold and silver, however, fall and people immediately lean on the "manipulation" talk.

The same market forces that drive a price up are the same market forces that drop the price. Simple. Its about supply and demand, it always has been and always will be.

Unfortunately you won't find many adherents to your supposition here, chief among them, yup, who has his own reasons to believe there's absolutely NO manipulation in the PM's market,
On the flip side there are many many wealthy, prominent and experienced CEO's of investment firms who DO believe there's manipulation and are very vocal about it and who are
NOT classical conspiracists

2 weeks ago, the CFTC concluded a 5 years "investigation" into market manipulation of silver, saying there wasn't enough tangible evidence. So if your in the camp of people
who believe the government needs precious metals to be low and suppressed for the sake of fiat currencies and that the CFTC is a governmental agency, well 1+1 equals 2.

So no surprise there. But there is one thing that bugs me and would love to be in the secrets of the gods and have an answer to.
Banks, in this case central banks are not usually in the business of losing money. So why is it they have collectively lost $550 billion
since 2011 while continuously buying gold as the price falls. They will add an estimated $15 billion this year alone, not really knowing where
the price will go. They have expanded their gold reserves by 20% since 2011 while the gold price slumped by 30% in the same time period ?