Precious metals haters and naysayers have just been served with a “Golden Cross”. The window of opportunity to get physical at bargain basement prices is closing, and rest assured that stackers won’t let go of their gold & silver until well after the storm shutters have been pried open and the house has long since been rebuilt…

What a week in the metals. $1362 gold intra-day, and silver fighting it out until the very end.

We hoped to hold at reasonable price levels, and the gold and silver price action this week gave us a whole lot more.

First things first: We have a golden cross!!!

“Golden Crosses” are rare. They are also very, very bullish. Equally rare are “Death Crosses”. They are also very, very bearish.

A golden cross happens with the 50-day moving average intersects on the graph and “crosses” above the 200-day moving average. A death cross happens when the 50-day moving average “crosses” below the 200-day moving average.

A golden cross indicates that the average price over the last 50 days is now higher than the average price over the last 200 days.

Sure, technicals may or may not matter, and sure, the gold and silver markets are more manipulated now than ever, but golden crosses do matter because all they are doing is making a statement.

In the precious metals markets, gold’s even rarer sibling platinum just put in a golden cross on the daily:

 

 

Notice how there have been neither a golden cross nor a death cross in platinum all year. When they happen, they are game changers.

Here is a close up of the cross, which happened on Thursday September 7:

 

 

Sure, it may be hard to see, but there is no denying the significance. This is further confirmation that the precious metals bull market is on, and now, picking up steam in earnest.

We have, in what seems like forever, been waiting for silver to even approach the 50-day line.

There is good news in silver:

 

 

Silver’s 50-day moving average is finally turning up. When the golden cross happens in silver, the fireworks display is going to be bigger than ever! We are not out of the clear just yet, however. We stated on Wednesday that there is resistance at both $18.25 and $18.50.

The good news is that silver has held on to $18 here at the end of the day on Friday. We weren’t asking for much, just to stay above $17.70, so we’ll take it. With some consolidation early in the week and another surge yesterday, it is rewarding to consolidate in price here today. What a strong looking chart that daily is becoming. We are past the June highs, and in striking distance of major resistance.

To show just how strong the golden crosses and death crosses really are, look at the price action in gold:

 

 

Last golden cross in gold was on May 19, and price has been rising ever since. Shhh, not to let this cat out of the bag, but in the wee hours this morning gold was even over $1362 for a few minutes! That’s an intra-day high, but let’s not get ahead of ourselves. For now, we’ll take anything above $1350.

To put gold in perspective, we can zoom out a little and look at the weekly chart in gold (each candle representing one week):

 

 

Gold has been grinding out higher-lows and higher-highs, and as highlighted earlier, the volume of trading in gold, and we’re talking the heavily manipulated COMEX “paper” gold futures trading, has been increasing over the weeks since the start of the year. Unlike 2016, however, this gold bull is just getting warmed up, and the cartel will have a tough time smashing this one back without having to let it rise significantly. Could this be the run that finally does the cartel in?

Further showing we are not out of the clear is the price action in copper and oil:

 

 

Copper had a bad day, down over 3%. Crude was also down over 3%. Crude looks like it is forming a downward sloping bullish wedge on the chart, but crude has been very choppy all year. Copper, however, we need to keep our eyes on. This merits repeating: The entire Internet is one huge spool of copper wire. The high tech world we live in absolutely runs on copper. The world needs tons and tons of copper for our everyday lives. After Hurricane Harvey in Texas and Louisiana, and now Hurricane Irma staring down Miami, with Hurricane Jose in hot pursuit, it is not unreasonable to say there will be absolutely huge demand for copper once this hurricane season is over and the rebuilding begins.

It is also worth noting that the big drop in the price of copper today could very well have slowed the advancement in price of silver. Silver is money. Silver is also an industrial metal, and most of the production in silver comes as a bi-product of copper and other base metal mines. Softening copper prices can soften the silver price in regards to industrial demand on a day like today.

The stock markets are looking very exhausted. Yes we keep saying this over and over, but there is really no other way to put it.

Consolidation in the Dow and S&P continues in a slow drift to the downside:

 

 

If this market is going to new all-time highs, it better do it quick, because retailers are absolutely hemorrhaging red ink, and Americans are spending less on both the discretionary and the non-discretionary.

The dollar is in a disaster of it’s own. President Trump wanting to do away with the debt ceiling altogether can’t be good news for the dollar no matter how the MSM tries to spin it. Commodities to rebuild disaster-destroyed parts of the United States will cost more, and everything is going to “trickle down” into higher consumer prices.

In fact, the dollar hit a new low, again:

 

 

That nasty green line is the dollar index hitting new lows.

The chart, however, is the US Dollar/ Mexican Peso currency pair (USD/MXN). Today we post this chart to show just how massive the Trump Trade was, as well as the Trump Wall, “Nafter”, and all the other doubleplusgood “America First” strong-dollar memes.

The reality as we shift from summer to fall is quite telling us a different story. Summer is not quite over. The hurricanes tell us that. Autumn is a time of quite volatile change. The stock markets tell us that.

The dollar index is going down. It has been all year, and except for mainstream analysts with hidden agendas and exotic technical analysis, the entire world sees it yet has not come to terms with this reality.

The Dollar is weakening against the Mexican peso as shown in the chart. Remember, Mexico is, year after year, the number one or number two silver exporter in the world. Silver going down from here? I wouldn’t bet my last peso on it.

Next week is a full trading week, and gold and silver are poised to strike at their major resistance points. With a Fed by-week and most likely the cartel “saving ammo” for FOMC day on September 20th, “strike” might not even be the right word…

 

  1. KWN are advertising, nay milking, Andrew Maguires interview release – coming soon!

    Last time he made a strong, quantified, prediction it turned up correct several weeks late.  The latest one is of a similar nature, is several weeks late and I guess KWN would not be milking it if it wasn’t what he said it was going to be.

    OK bed time here in the UK.  I shall get disillusioned in the morning or otherwise as reality dictates.

    • Yup, KWN holds on and holds on to interviews and then releases them late on Friday nights (nearly midnight where I live).  That way they get a lot more visitors who keep coming back to the site time and time again to see if the damned thing has been posted yet.  Pretty cheesy in my opinion.  But you know… it’s all about ‘traffic’ on the site, whether it be real or not.  And after all that, Mr. McGuire’s predictions are often right, but a month late.  [I like Andrew McGuire though.]

      My solution to this aggravating situation?  Visit KWN ‘one time’, but a month late.  By then the month old predictions are just about ready to act on.

  2. “GOLDEN CROSS!!! – Precious Metals BULL MARKET CONFIRMED!!!”
     

    Oh please…..how many times have we heard this same bullsheet over the past 6 years. I shorted a massive amount of Gold at the close today with 8x leverage. 4+ weeks I’ll be buying a new Bentley – for cash.

    • “4+ weeks I’ll be buying a new Bentley – for cash.”

      Yep… that OR you’ll be riding a bicycle for the next few years.  lol

      One never knows for sure what the future holds.  Just when we think we have it figured out, it turns in a different direction… again.

      But best of luck with that.  I hope that you do well… VERY well.  🙂

       

  3. With the VIX lowering to 27 year lows and the Dollar Index also following suite should let you know that another market selloff is just around the corner.

    With the Dollar Index lowering that will shoot metal prices higher unless enough paper is tossed on it to suppress it.

    Break out the popcorn because things are about to get very interesting!!!

  4. Those who control the bullion banks control the price of the precious metals…forever.  They can always suppress precious metals to their cost of production, even while asset bubbles develop in everything else.

    You were never going to beat them.

    • “Those who control the bullion banks control the price of the precious metals…forever. They can always suppress precious metals to their cost of production, even while asset bubbles develop in everything else.

      You were never going to beat them.”

      Yeah, and they have infinite amounts of gold and silver stuffed away in case there’s a run on those said banks. Like magic! Uh huh.

    • Correct, they’re pretty invincible as long as the printin’ press works and the rules at the CRIMEX can be changed as required.  One of these days that will change just question if I’ll still be alive given this movie has been in replay mode for 35 to 40 years.  Just wished the supposed guru’s on this site would be honest but realize that doesn’t create panic buys into the metals nor does it sell subscriptions to their newsletters.  LOL  They need to sell a crisis in the next 6 months!

    • If you guys think they can suppress prices below equilibrium forever, then you may as well believe that they can suppress them to 0 forever too. After all, what’s stopping them if, by your logic, they’ll never have to worry about supply throughout all time to back their fractional-reserve accounting?

      And you may as well also believe that they could go back in time, and suppress prices to their pre-1970s levels without ever rising in price for all eternity.

    • The “exchange stabilization fund” has 3 trillion dollars in it. With 3 trillion dollars in your stack, you can control the price of ANYTHING almost indefinitely, and thereby increase the size of your stack by robbing all the suckers blind. I dumped 5K on some long shot Ag calls last summer after making 6K in a single day on some other calls. If I had bought ethereum, dash, litecoin, monero, or any other major crypto, I’d be half way to retirement.

    • “The “exchange stabilization fund” has 3 trillion dollars in it. With 3 trillion dollars in your stack, you can control the price of ANYTHING almost indefinitely, and thereby increase the size of your stack by robbing all the suckers blind. I dumped 5K on some long shot Ag calls last summer after making 6K in a single day on some other calls. If I had bought ethereum, dash, litecoin, monero, or any other major crypto, I’d be half way to retirement.”

      First of all, anyone claiming to time a market is a fool. Anytime you make a prediction about human actions, human beings (after hearing it) either circumvent it or trigger it prematurely for their own gain. Either way, I’m sorry you got conned by criminals pretending to being a financial Nostradamus. Unfortunately, those types are not limited to precious metals markets, so I hope you’re not conned again.

      Concerning the argument at hand…I’m just point out some basic, irrefutable math. You can’t argue suppression can last “forever” since, clearly, we’re dealing with a finite supply of actual materials. This is physical wealth we’re talking about, and no amount of printed dollars can change that. So the real question is not if, but when, inevitable corrections take place.

      And if you can time when…I’d say you’re better off keeping your mouth shut…unless you’re playing a con-game yourself.

  5.  
    When gold breaks above 1367 and keeps going, there will be nothing stopping it.   Silver is sure to follow but probably not right away.   This is what happened back in September of 2009.   There should be a short time window to double down and back up the truck if you want to buy more.  This would also be a good time to buy those quality mining stocks you have been watching. After that, I am predicting we will have a parabolic move similar to bitcoin.   Just keep an eye on that gold price folks.
     

    • Glad you guys can keep a sense of humor. It’s tough being a long-suffering metals believer!

      Maybe you can compromise with your wife and keep the silverware under the mattress.

       

    • “Maybe you can compromise with your wife and keep the silverware under the mattress.”

      Nah.  All that jingling at just the wrong times is VERY distracting!  😀

       

    • Platinum is a member of the platinum group metals and is lustrous, malleable and ductile; it has an abundance of approximately 0.001 ppm in the earth’s crust. Of the group of six metals (Pt, Pd, Os, Ir, Rh and Ru), it is the most important. Platinum is also used to manufacture jewellery and, along with gold and silver, has its own hallmark.

      It is twice as heavy as silver just like gold, so it does somehow fit squarely inbetween gold and silver. although as the name suggests, it has been viewed as a sibling of silver.

       

      apreciate it, apreciate it.

    • Andrew Maguire is like a broken clock. Eventually he will be correct. Still waiting for that unnamed sovereign to make their market breaking 250 tonne gold purchase.

    • All fiat comes to an end someday.”

      Yes, they do… and the dumber the monetary decisions made by those in charge, the faster that time arrives.  My guess is that it is the use of the US gold hoard to meet the metals futures that stand for delivery demand that has consumed most of what was once there.  They cannot depress the price of the metals UNLESS they are willing to supply at least some metal at that depressed price.  This is a cat that TPTB cannot allow to escape the bag because if they do, the jig will be up as to the true value of the US$ and the UST paper that is coupled to it.  That would be a tremendous blow to the US economy and financial stature.  Both the Russians and the Chinese would like that… a LOT.

       

    • buying at these low, low prices. Buying low, for a long term hold on the pms. What a gift, to have these precious metals suppressed at low prices to help save the US dollar. All fiat comes to an end someday. ”

      Finally have my DCA below the current spot. Life is good & load time is here. Think I’ll release the powder at the next “paper raid”.

  6. Of course they had to take a dump on us… it was in the cards earlier on the JPY/USD line…couldn’t even wait for “Monday” in the USA…had to cross-over and do it before anyone woke up in NY…

    Harvey just got a 15 billion USD down-payment…wonder what Irma will gather in come Tue/Wed or so…I’m guessing $25 Billion or more… It looks like the Key’s could swallow that amount alone for road repairs, eh?..

    Wonder how many on here, SD, had to “move their junk and stuff” away from one of these storms?… Wonder how many sweated out getting some LEO interest with a possible “asset forfeiture” move put on them???

    AG and I have been talking and cooking up a “get out of dodge” deal for us stackers and crypto coin folks…..so, there are no “speed bumps” or “heart attacks” in these forced road trips. This is a true low-bucks way to control your own destiny and protect the lives of your loved ones that may be in some “other” place than you – ie: you need to do something for “mom and dad” from 1,000 miles away. Ping me and we can arrange an off board discussion…just use the @ sign.

    Check-6

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