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Iworkinpreciousmetals

Iworkinpreciousmetals
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  • Gold's ahead 3% and Silver 5% following Bernanke's dovish remarks last night. GLD +2.9%, SLV +5.3% premarket. The devastated miners look to catch a big opening bounce as well, GDX +5.4%. Copper (JJC) +3.5%[View news story]
    Here are two article you should read in order to answer your question. It is written by Tom Fitzpatrick, an analyst from Citibank.
    This one explains his position on equities:
    http://read.bi/18PADao
    The next one talks about gold going above $3500.00 by 2016. It was written in May 2013 and he projected that gold would rally up to 1260 in the near term and he was absolutely correct.
    http://read.bi/18PADap

    Here is a lengthy video (if you have the time) from someone named James Rickards and gold going to $7000 an oz. If you don't want to watch the video just google him. He has been working in capital markets for 35 years.
    http://bit.ly/18PAEem

    These are just 2 sources explaining why gold will go up over the next couple of years.

    To explain some of the BLATANT manipulation that has happened to the gold market recently, here is an article from Goldman Sachs telling everyone to short their gold back in April when the prices fell so dramatically.
    http://on.wsj.com/18PAEep

    Just FYI, they recently told everyone, when gold was near 1200, that everyone should have 10% of gold in their portfolio. Great profit making on their part.

    I could go on and and on and on and on and on about why gold/silver will go back up. China is buying it in the droves at these low prices. Mining companies need gold to be at $1500 for them to make a profit, so they are REALLY struggling. Bernanke basically just announced QE4 and depending on how much that is, it could mean gold going up again come fall. The last round of QE3 didn't do much for gold, so not sure yet what the forecast for gold will be if they launch QE4, it just depends on a couple of factors. However, all of the recent shenanigans from the banks have been based on *paper* gold/silver, i.e. GLD. If GLD gets out of the picture, the true cost of gold, which should be triple what it is now, will go up and silver will follow.
    Jul 11 09:39 AM | 4 Likes Like |Link to Comment
  • Precious metals catch a bid amid Middle East worries and the reawakening of the EU debt crisis. Gold's ahead by 0.9% to $1,254/ounce and silver's up 2.5% to $19.78. GLD +1.1%, SLV +2.7% premarket. [View news story]
    Couldn't agree more, Dearborn!! I'm in the profession of actually selling precious metals for a huge company and this is just unbelievable -- the blatant manipulation. Goldman Sachs seems to be the leader of them all...
    Jul 3 09:13 AM | Likes Like |Link to Comment
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