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Albert Sung is the author of the Katchum Macro-Economic Blog, monitoring breaking economic news from a day to day basis. He started investing in 2008 because of the economic crisis and holds a masters degree in chemical engineering. Previously, he worked several years as a process engineer at... More
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  • Silver/Gold LCNS Positive Going Forward 1 comment
    Oct 5, 2012 2:59 AM | about stocks: GLD, SLV

    So far so good for the trend in LCNS for August 2012. As I mentioned before here and here, the LCNS is a leading indicator for the silver price. Once you see the LCNS go up, the silver price will go up a few weeks after it.

    In an email update from Peter Schiff last week, he mentioned that silver would be the best commodity to buy these days. I agree, there is a very good chance that silver will blast through the resistance of $38/ounce.

    Don't wait for a pullback.

    (click to enlarge)

    Chart 1: LCNS Silver positions

    (click to enlarge)

    Chart 2: Silver Price

    As for gold we see the same happening (September 18th, 2012). LCNS is spiking upwards, so there is a good chance we will see gold higher the next few weeks. Once you see the LCNS go down, you start to see a pullback. I believe though, that the LCNS has already bottomed out and will continue higher.

    (click to enlarge)

    Chart 3: LCNS Gold positions

    (click to enlarge)

    Chart 4: Gold Price

    Disclosure: I am long AGQ, PHYS, PSLV.

    Stocks: GLD, SLV
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  • winningtrader
    , contributor
    Comments (2459) | Send Message
    JP Morgan and their friends + whatever government entities are involved in the gold and silver market have drawn a line in the sand at $35 silver and $1800 gold. They will defend these levels most likely trying to keep the metals below these prices until the elections. Are they going to succeed? Who knows? This is a tough call but I am convinced that much higher prices are in store for both metals.
    5 Oct 2012, 06:14 PM Reply Like
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