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

@Aan

Ok, look for silver to fill the 6/20 gap once again. top fo the gap for it to fill is 21.28. it needs to fill this, hold it and push higher. Same with gold, need it fill the gap, hold it and push higher.

Keep in mind this doesn't mean that they are out of their downtrends however. This being a slow month perhaps we see squeeze as everyone thats short gets pushed out.

So dont be surprised should be see some sort of rally in both metals this month. Again, even with a rally gold and silver have a lot of work to put in to get out of their downtrends.

In fact PMz have been in an UPSWING for about 2 weeks now, siginificant because its the longest substained amount of time moving forward in a long time IMO.....

I wouldn't call this an upswing. In fact none of this really surprises me, I expect that in a strong downtrend we get retracements.

This move will benefit on those type traders who have been looking for this type move. Those who sold short late are really feeling the pressure.

However, serious downtrends just don't turn around like this. It takes time.

Per the Kitco charts... Silver spot has gone from $18.51 on 6/27/13 to $19.24 @ 7:00am on 8/7/13 to $21.35 @12:19pm today and that is an upswing. It may very well be a
small, short-lived, temporary upswing that's part of an overall, longer-lived downtrend, but I cannot see calling a 15.34% increase in silver spot anything other than an upswing.

That's $60 more for each roll of silver eagles sold this week at the Money Fair (and there will be a lot of rolls changing hands). That also adds at least $3 to every silver dollar and a couple dollars per $1 face for 90%. Sellers/dealers at the Fair win out over buyers on this move. Those selling their gold coins will do much better as well. That has moved $50-60 per ounce in the last few days.

and TPG has a great comment too,,,,, I was actually thinking like you, that coin prices are going to jump and I like that, because its gonna stifle interest in the reverse proof Buff lol

BTW, whos going to the show in Chicago? I am so tempted to go and give grief at the CCF table lol :D

we should hold an informal PM forum with a friendly debate at a bar/restaurant, I realize we have probably some younger folk under 21. I dont know why I didnt think of that earlier but I am tempted to go.

This may be shocking, but not everybody on this planet lives a jargon-bound, closed, little cubicle existence. Many people don't live a jargon-bound
existence and call a >15% spot increase as an upswing, whether that's the most perfect of all possible technical terms or not.

Your being able to "...let it slip..." and "...freely forgive the public for making mistakes" is truly magnanimous. I'm sure everybody who isn't up to your
level of excellence in jargon usage proficiency is grateful. I know I am. Thank you very much.

You know....when it was on the way up; we would get these valley's or "dips" and the shills would say they were expected after a push up. You would hear things like "oversold", and "retracement" and "buy the dip". But never did you hear that the price ws on a "downswing", or had reversed course. So now that we are in a downtrend, it kinda makes me wonder why we are not hearing the same thing every time we have a "peak" up? Well, except for Yup.

Another thing. Has anyone noticed that Kitco's "experts" have a horrible track record?

By that I mean that late in the week, usually on Friday, they report the concensus of several experts. They give an opinion of which direction the market will go the next week. I would really like to go through the archives and chart it out, but It is wrong more often than not. Much more often; I believe.