I went to the Cheviot Sound Money Conference in London last week, with speakers including James Turk, Max Keiser, Hugo Salinas Price, David Morgan and Chris Powell of GATA.
The fundamentals for gold and silver are off the charts bullish. We are down to the 144 MA on gold and silver, to me, is looking a lot more resilient than it has done in the past when being slammed down. It's like a fresh tennis ball.
Ted Butler makes a great point that the big banks have been covering at a LOSS, for the first time ever, on this smackdown. One has to doubt whether they will be so keen to layer on new shorts to keep a lid on things when the rebound happens - when they've been so keen to get out on this downleg. It's been new territory for them on this journey down, which implies that there could be new behaviour next time price challenges resistance.
With no JPM lid anymore, the next leg could shoot straight to $36-38 or higher. When will it begin? Lots of rumours of ex-JPM traders encouraging big Asian buyers to put on a short squeeze at the end of February.
The fundamentals for gold and silver are off the charts bullish. We are down to the 144 MA on gold and silver, to me, is looking a lot more resilient than it has done in the past when being slammed down. It's like a fresh tennis ball.
Ted Butler makes a great point that the big banks have been covering at a LOSS, for the first time ever, on this smackdown. One has to doubt whether they will be so keen to layer on new shorts to keep a lid on things when the rebound happens - when they've been so keen to get out on this downleg. It's been new territory for them on this journey down, which implies that there could be new behaviour next time price challenges resistance.
With no JPM lid anymore, the next leg could shoot straight to $36-38 or higher. When will it begin? Lots of rumours of ex-JPM traders encouraging big Asian buyers to put on a short squeeze at the end of February.