What do the Chinese (and Indians and Russians) do? Do they sit on the sidelines while gold is artificially locked into a trading range around $1200?
If you believe that the information we are given on gold and the economy is manipulated, slanted, or deliberately not reported, how can you be certain of anything?
Why do most people only become interested in gold when the price is rising? The “need” for gold does not change whether the price is moving up or down. The issue is not how much it costs, it’s where is the dollar headed? The physical demand is not (yet) controlling the price. It’s all in the hands (for now) of the short-term, algo-dominated hedge funds and a bullion bank or two.
We can (and do) provide you with the best up-to-the-minute information on the economy and the markets, but that daily information should not be the reason to own gold and silver – because if you base your decision to purchase on short-term market activity and disregard the big picture, the fundamentals, then you are buying for the wrong reasons. You are speculating on price and treating gold as an “investment” instead of as “money” or an “insurance” position.
Sure, I provide you with key information in my Featured Articles section, but do not lose sight of the end game here, the big picture. Every time the Cartel forces the price lower, they are doing you a favor – if you buy these manufactured price dips.
Charles Nenner says:
Gold is losing steam, but a close below 1270 is needed to confirm the end of the bounce. We are still looking for a longer-term tradable low in Gold in July.
Based on daily cycles that are up, we expect the bounce in Silver to continue, as long as there is no close below 18.95.