Grandich On Gold: “Fear Has Totally Gripped People—To Try To Explain The Fundamentals Would Be Useless”

I had the chance to reconnect today with Peter Grandich, publisher of The Grandich Letter, for a powerful conversation on the gold market. Peter has issued spot-on market calls for decades now, beginning with the 87′ market crash, gold in 2003, and the stock market bottom in 2009.
Wednesday morning Peter issued a major new call entitled, Gold ($1225) Bottom In Sight, calling for a bottom in gold—likely within the next 48 hours. The thrust of that call is being led by cycles, sentiment, and market manipulation.
In discussing his new call, Peter indicated that, “Some [market] technical work came up this morning in a way that I haven’t seen in years…I’m an old fan of ‘Gann Angles’, [and] the combination of that, cycles work, and some sentiment indicators—suggested to me that within a couple of trading days…we would [see] a major bottom in the price [of gold].”

Lowered Prices


From Tekoa Da Silva, Bull Market Thinking

That bottom however, will only be capitalized on by a few investors according to Peter, for the reason that, “To try to explain why fundamentally gold makes sense [here] would be useless—like throwing sand in the ocean. We’re at this level where the market is trading now, because fear has totally gripped people that owned [gold]…and to stand there and say, ‘Be calm’, as everybody is running down the street in a total panic would be useless, and that’s what’s happening now…[However], the fact that it’s [happening] like that, means we’re towards the end of the [down] move.”

While accepted as a common occurrence in other markets, Peter indicates that manipulation is largely denied or ignored in precious metals, and has played a dominant role in the price action over the last few months.

“Every week we see news of [legal] charges,” he explained, “of actual proof and people pleading guilty to manipulation across a wide spectrum [of markets]. Yet somehow people think it stops at the doors of the Comex—which I like to call the Crimex…I am convinced, and I don’t know whether a smoking gun will ever prove it right…that this was part of a calculated move by [certain] parties, that [intensified] in April, and has accelerated up to this point, in order to take down [gold]. If it was truly a normal selling of something that people no longer wanted, there would be no real physical demand for gold. But while the selling takes place in the paper market, any and all declines are met with heightened [physical] demand.”

The significance of that manipulation is key according to Peter, in that, “If people had to resort to this level [of manipulation] to kill the messenger–then the ‘message’ that messenger has, must be absolutely startling, with certain people not wanting to see it get out. That’s why this has taken place.”

As a final remark to investors, Peter noted that, “The reasons to own gold have [only] increased.” 

This was another powerful interview with one of the most successful market commentators of our time. Lots of additional items were discussed, and it is required listening for investors and serious market students.

To listen to the interview, left click the following link and/or right click and “save target as” or “save link as” to to your desktop:

>>Interview with Peter Grandich (MP3)

2013 Canadian Maples As Low As $2.29 Over Spot!

Comments

  1. If you ever read anything about why you should keep holding metals, READ THIS!
    http://ftmdaily.com/preparing-for-the-collapse-of-the-petrodollar-system/

  2. I stopped hanging out at a certain PM Forum because it became infested with a couple of papper pimpers who denied the obvious manipulation in the metals as “Market forces at work ” & beat down anyone who thought otherwise
    Suuuuuuureeeee………. MANIPULATED MARKET FORCES is what it is

    • I’m as happy as anyone to see prices up higher (especially after getting in a good buy order thursday), but have to ask, if down hard in minutes is manipulation, what is up hard in the same amount of time?

  3. Oh Yeah, let’s talk about global markets, okay?  China has an economy, media, & interest for PM’s.
     
    http://youtu.be/wSD5V8q72jk

  4. More bank runs coming across Europe 6/30/2013  http://youtu.be/QI18iOHZ9l0
     
    This is why we purchase Silver on a global scale.

    PS: Subscribe to: http://www.youtube.com/zeropoint2013

    to get current information without bobby-head opinions, strait from the horses mouth.

  5. Two dots connect here for me.  The girl with the nail in her forehead reminds me of the hundreds of millions of people who have bank accounts at banks throughout Europe, Canada, the US, and Japan (Yes, they have formulated bail-in).  They are in denial that there is a nail-in coming.  Meaning that their accounts will get nailed as their biases shout at them to ignore the obvious.  Bail-ins are coming, have started, and they are happening in what we would commonly consider civilized countries.  Island nations like Cyprus, Japan, the UK and Ireland somehow seem to be particularly vulnerable since their inhabitants are easier to corral, prevent from fleeing with their valuables and contain with force if needed.   So I think we’ll see more of these bank runs aided by the people’s unwillingness to see the factors that will destroy them
    BTW  When the fear factor assumes something of a palpable force that even the most unwitting and misinformed cannot ignore, I GUARANTEE WE WILL BE GLAD WE STACKED in acticipation of these events.  Noah built his ark.  We build our stacks.  In a highly charged and seemingly complex environment Occam’s razor prevails.   The solutions seem pretty simple. Overthinking solutions wastes time and energy.   Remove yourself as much as you can from harm’s way. Keep a ready reserve of real money.  Help those you can help and bunker in.
    Even if the world does not end in blood and tears, and there are reasons to assume that it won’t, being prepared is just prudent planning.
    Like Charlie says- STFU and stack. 
    BTW Charlie, your Tam is a deal giveaway  We know you are on a tear

    • South Texas Financial University says:
      STFU & STACK!!!

    • “Bail-ins are coming, have started, and they are happening in what we would commonly consider civilized countries.  Island nations like Cyprus, Japan, the UK and Ireland somehow seem to be particularly vulnerable since their inhabitants are easier to corral, prevent from fleeing with their valuables and contain with force if needed.”
       
      Agreed, AG.  The shear power of the bail-in model will be clear to one and all when it occurs in another island nation of much greater financial assets… as in the UK.  If that does not serve as a sheeple wake-up call, they are indeed comatose and / or brain-dead.
       
      “Overthinking solutions wastes time and energy.”
       
      Yes, as well as opportunity AND money!
       
      “Even if the world does not end in blood and tears, and there are reasons to assume that it won’t, being prepared is just prudent planning.”
       
      Sometimes we just have to reduce our arguments in favor of being prepared for various SHTF and lesser problems by asking people, “In general, is it better to be prepared than not prepared?”.  Most of us buy insurance to cover large expenses that are unlikely to occur.  In most cases, the law requires this, such as for auto insurance or a lender requires it in the case of a home.  Either way, it costs us money and we pay it so that the unforeseen does not occur and completely wipe out our savings.  
       
      Given that it is better to be prepared than not, most of us on here buy gold and silver to stack outside the bail-in… er… banking system.  This is a form of financial insurance and it is easily obtained. When we buy silver and gold, we are not spending money, we are simply exchanging one form of money (fiat currency) for hard money (gold and / or silver).  We do need to be somewhat cautious in this, of course.  Do not put fiat that we will be needing soon into gold and silver and be forced to sell when prices are low.  Using longer term money to buy PMs gives us some additional insurance by adding to the time we can afford to hold these PM assets.

    • Not just stacks, food, water, fuel, guns, ammo… all are going to be needed during this coming collapse.

  6. Doing/Trying to help y’all mellow out just a bit…..

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