Gold Editorials & Commentary

The past week was surprisingly uneventful. With Friday's quadruple witching day being near comatose. It was interesting to see early in the week some of the major winners for the year being sold off though, as traders booked profits for the year.

GLD - sell signal this week.

Silver has been a rock-star in recent months, rocketing higher to dazzling gains. After such a blistering near-vertical ascent, technicians understandably fear this metal has become wildly overbought.

So far this week we have been seeing fear creep in the equities market. This Wednesday we started to see fear (green indicator) reach a level which tells me to start looking for the market to bottoming.

GLD - on buy signal.

The week past was absolutely perfect for US markets in general as they consolidated the huge gains from the week before. The S&P traded in a narrow range at an important horizontal level and is resting.

Earlier this week, the flagship HUI gold-stock index powered up to new all-time record highs. While fantastic for gold-stock investors and speculators, such lofty achievements inevitably cement more big bricks on top of the wall of worries.

Over the past 2 weeks we have seen the market sentiment change three times from extreme bullish to bearish and back to bullish as of today. Normally we don't see the herd (average Joe) switch trading directions this quickly.

The Chinese really must think the American strategy and behavior to be braindead and self-destructive.

We appear to be right at a very interesting juncture in the Precious Metals Sector at this time.

Things really couldn't look better for gold and silver both fundamentally and technically - and this is said in the knowledge that there are still a lot of naysayers around - if there weren't we really would have cause to be worried.

Earlier in the week I put out an educational piece showing some historical, as well as current cup and handle formations. These are very powerful formations indeed, and the S&P500 just broke out a couple days after my piece was released.

GLD - buy signal this week.

This had been an exiting week for traders as the equities market was on a verge of a major sell off. Fortunately, we were watching the market very closely and saw the sentiment and market internals shift shortly after a new low was set last week.

In general, 3rd waves in the Precious Metals stock universe tend to be dominated by intermediate producers and soon to be intermediate producers.

As much as I do enjoy some time off there's nothing like getting back to work either, since it's something I love to do.

Eventually all paper money returns to its intrinsic value--worthless. -- Voltaire

Last week we had typical pre-holiday light volume trading going into US Thanksgiving.

Two years after the credit-crisis panic in the autumn of 2008, and 21 months after the March 2009 stock market bottom, let's take a look at what's hot and what's not.

Using:

GLD - on sell signal.

We have been proposing the monetization of a silver coin in Mexico since 2001. According to our proposal a one-ounce coin of pure silver, with no engraved value, would be given a monetary value by the Mexican Central Bank.

We have been proposing the monetization of a silver coin in Mexico since 2001. According to our proposal a one-ounce coin of pure silver, with no engraved value, would be given a monetary value by the Mexican Central Bank.

Most people are mainly concerned with what is going on right now and are less concerned with what happened yesterday, last week or last year.

Max Keiser is witty, brilliant, entertaining and informative. I also believe that his latest call for $500 silver is wrong.

Overnight Tuesday, selling pressure slammed futures on the ominous news of North Korea shelling a South Korean island. What ought to have been a relatively-quiet market day heading into Thanksgiving was suddenly filled with anxiety.

The backdrop has turned dire on several front simultaneously. The great millstone around the USEconomy's neck continues to drag it down. CoreLogic reported 2.1 million units have created a swamp in Shadow inventory of the housing market.

The past few months it seems the gold and silver play has been getting a little crowed with everyone wanting to own gold.

GLD - sell signal this week.