The bullion bank gold cartel pulled out all of its stops last week in order take down the price of gold and silver. Particularly useful was selling by longs connected to fear over the week-long closure of China in observance of the Chinese New Year's celebration (Year of the Rooster). Interestingly, last year gold was volatile during the Chinese New Year week off but traded sideways, not lower.
In addition, this upcoming week features the FOMC meeting and the January employment report. On average and in general, both of these events typically are accompanied by a take-down in the price of gold. On Friday, however, after the obligatory smashing of gold and silver associated with Comex options expiration (Thursday), gold snapped back sharply $9 from its Thursday low of $1181 and silver soared nearly 50 cents from its Thursday low.
Eric Dubin and the Doc invited me onto Silver Doctors' weekly Metals and Markets Report to discuss the factors behind last week's gold and silver trading activity and the reasons why gold and silver could turn in a better 2017 than 2016:
If you agree with the views in the above podcast, the Mining Stock Journal offers great junior mining stock ideas to help you take advantage of the next move higher in the precious metals sector. You subscribe using this link: Mining Stock Journal subscription link. As subscription includes all the back-issues and superior customer service.
Hi, i really like your mining stock newsletter. I am fairly new to the mining sector and i did start investing in last febuary pretty much at the lows - recent new subscriber "Thomas"