Both gold and silver are now below their 50 MA as well as their 9 EMA; short and medium term bearish.
Gold needs a close above that 9 EMA as a first step to ending the downtrend.  If gold drops below $1166 (the previous low) it would be quite bearish– that would mark the end of the bullish 4-month “higher lows higher highs” pattern, and that would mark the end of the current medium-term uptrend.

In this excellent interview with Finance & Liberty’s Elijah Johnson, Silver Guru David Morgan provides an updated outlook on gold and silver, & discusses how the global currency war will impact gold and silver.
David Morgan’s full interview is below: 

Jim Sinclair

With respect to the Greek economy, the ECB decided to increase the ELA to 68 billion euros or an additional 3 billion will be granted to the banks due to the huge amount of bank runs in Greece this past week.
However  sovereign Greece announced that it has only one week’s worth of cash left which would put her out of money on Feb 24, 2015. Headaches mount for our big underwriting banks who bet huge amounts of money on Greece’s survival.
A Grexit will cause massive losses for the ECB bank and other official EU centres and the IMF.  A lot of these losses must be transferred to other members of the EMU.  Countries like Italy, Spain and France will not be available to absorb those losses.

Parabolic_Rise_in_2015
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PM Fund Manager Dave Kranzler joins the show as a Guest Host this week discussing:

  • Fund manager Dave Kranzler sees physical demand pushing silver higher; Silver has carved out a cyclical bottom formation and appears to in a solid uptrend  
  • Pullback from Jan 21st peak is blessing in disguise as silver starting to go parabolic
  • Consumer sentiment starting to turn down even as S&P 500 hits new all time high
  • Kranzler explains why Silver Will Be the Best Performing Asset of 2015!
  • Ukraine conflict will not end until U.S. changes policy
  • Greece and EU will likely come to some sort of agreement given “follow the money” (and resulting pain) analysis

    The SD Weekly Metals & Markets With Eric Dubin & Dave Kranzler is Below:

This week gold continued lower, breaking below its 50 MA, then tried to rally back and failed.  Silver chopped sideways until Friday, when it broke out sharply, rising above its downtrend line.
Gold is looking weak, while silver looks strong.

images

This week precious metals continued to consolidate January’s gains in volatile financial markets, with both gold and silver range-bound. Platinum and palladium were up on the week, noticeably stronger than gold and silver.
Physical and paper markets appear to have been behaving differently, with prices tending to be firm in London (where physical deliveries take place) and weaker in New York (which is overwhelmingly derivative trading), though at the close of trading in New York prices appeared more often than not to steady ahead of the Asian markets opening.

The US equity market is on the cusp of something interesting; if it confirms the swing high Monday, we might have some excitement next week.  I think a drop in SPX would be help PM, and bonds too.
I hate to sound like a broken record, but right now, gold price movement has a great deal to do with Greece and debtGold in Euros still looks quite good.
Check out this chart:

fugget about it

Price goes up when the cartel wants it to and down when they want, as well.  Metal price is a puppet on strings consisting of shorts and longs from both above and below.  If one can learn to read the numbers , then price direction is somewhat easy to predict.
Some writers partial to Speculators were hoping for a great long rally to crush the Commercial’s vast short positions.
Ain’t going to happen.  “Fugget about it!

HarveyOrgan

The big story today is the fact that we are back to square one with the Greek situation as Germany considers the Greek proposals on debt reduction, “half baked”.  Three of the 4 major Greek banks again went to the well for another 2 billion euros as depositors remove their money from Greek banks and place the said money in their mattresses.
Let’s head immediately to see the major data points for today:

freefall

We had quite a day Friday.  Gold shot up along with silver. Greek 3 year bond yields rise to 19% signifying default is in the wind.
The Mexican Peso and the Brazilian real collapsed.  The European CPI plummets to negative.6% and thus deflation intensifies.
The Brazilian economy collapses with its twin deficits ie. a fiscal deficit along with a current account deficit. 
German bund 30 yrs out falls in yield to below 1%.  Stock markets around the globe plummet. 
All in all, you must say that this was a day to remember.

moon

Gold and silver prices consolidated recent gains this week, both having become overbought short-term, and they now appear to be building a base before an attempt to convincingly attack higher ground, though Thursday’s price reaction was quite sharp.

silver crash

The bankers for the past several years have raided gold and silver at the conclusion of every month.  Four days prior to the end of the month we have the options expiry on the COMEX.
On the last day of the month we have the OTC options expiry where hedge funds buy options from the bankers on the OTC market.  Why on earth investors day in and day out buy options on the precious metals is beyond me.
These guys are mega crooks.  In gold they wanted to have all 1260 dollar call  options and above go worthless.  In silver it was all calls between $16.75 and $18.00. They were successful as they pocketed all of the premiums.  This is how the banks make money.
The Fed keeps the rates at zero and provides loans to these bums at 0% so that they can execute these trades against us.

HarveyOrgan

Gold and silver were basically treading water up until the 2:00 o’clock FOMC report was issued.  Actually gold and silver were whacked 10 minutes after the report. Gold/silver equity shares also took it on the chin today as well.
Today we follow developments whether Greece will play ball with the ECB boys or seek the help from Russia and China and default, leaving the west with a mess.

Let’s head immediately to see the major data points for today:

HarveyOrgan

The open interest for the upcoming February contract month remains extremely high at 130,026 with 3 days to go.
I cannot recall ever seeing such a high OI with 3 days remaining coupled with extremely low volume on the COMEX. 
Something sinister is happening behind scenes in COMEX gold. 

launch rocket vertical

The gold shares rebounded sharply today as the bankers covered their massive shorts in the gold/silver equity shares.  That is a sure sign that gold and silver will have a very strong day tomorrow. 
The crooks are controlling the precious metals market every minute of every trading day.

cartel raid
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In this week’s Metals & Markets, The Doc & Eric Dubin break down the ECB’s massive €60 billion a month QE announcement Thursday, and discuss whats next for the global markets and gold & silver in particular:

  • Gold & silver’s strong January continues with silver $4 off its lows and gold nearly $200 off its December lows
  • Cartel setting metals up for a Classic Gold & Silver raid on next week’s options expiry and January FOMC statement!
  • Why Fed will soon begin backpedaling on rate hikes, may announce QE4 by Q4!
  • Cartel raid likely won’t last- Why gold is likely to rise by 20% at a minimum in 2015- and COULD DOUBLE!

The SD Weekly Metals & Markets With The Doc & Eric Dubin is below: 

 

2015 Best & Worst Peforming Commodities IndexesWith the new year now in full swing, Silver is one of the top performing commodities in 2015.  After falling over 71% from its high of $49.82 in April 2011, to a low of $14.16 in December 2014, silver is up 16.3% in 2015.
Not only is silver up higher than gold in percentage terms, it’s nearly double gold’s performance of 9.3% in January.

HarveyOrgan

Today, once gold surpassed the 1300 dollar level, one could guess that the bankers were going to defend their turf and they most assuredly did  with a raid this morning. 
Surprisingly silver did not follow gold.  Silver surpassed the 18.00 dollar level and stayed there for the rest of the day.

HarveyOrgan

Today gold and silver had a good day price wise as the fear factor continues to weigh in on the financial scene.
Late on Friday, the SPDR gold trust released data suggesting another 13.74 tonnes of gold was added to its inventory.
The huge repatriation of gold into Germany in December of 85 tonnes also gave gold a much needed boost.
Get ready for the defense of $1300.00 gold and $18.00 silver as the bankers will continue to go all out to defend their turf.

rocket

Bo Polny is a student of cycles.  Based upon his observations during our interview on election day in November 2014, he predicted that a major precious metals rally was starting that day. While his timing was off by perhaps 48 hours at most, his call has been on the money.  
Below is Bo’s follow-up on where markets are heading. You’ll be happy to know that all your stacking was not in vain.
Quite the contrary, the big move is almost upon us!