Gold up again, dollar still sinking. Bernanke claims end to recession.
What’s gold’s next move? How about the dollar?
And exactly how long have we been in a recession anyway?
Best,
Larry
P.S. Foreign investors are abandoning the dollar in droves. What are you doing to protect your wealth under a crumbling dollar? Click here to learn more …
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{ 21 comments… read them below or add one }
I’m no expert, but i agree that this isnt the breakout, i just dont feel it. whatever that’s worth.
although i’m still buying when i get the chance, i’d rather take a possible 200 dollar / ounce hit than never get in at all.
Excellent analysis and although I am a very short term trader, there is certainly some useful information for short term traders here. Thanks for sharing this.
Cheers,
Mark
Thank you for as always a very professional view of the markets
I get concerned when experts keep changing their targets. First you were expecting a sell off at the end of July, then August and now into September gold looks like it has technically broken out. Doug Casey is also skeptical of this rally. The fact that 2 gold bugs are both skeptical at a time when gold is strong leads me to believe this is the big breakout. Sometimes the charts tell it all and too much thinking about it fogs up the crystal ball. Both China, Russia and other central banks are loading up on gold. China is encouraging its citizens to buy gold. Worldwide demand for gold is sky rocketing while production is down. The bullion banks have gigantic open short positions that they will probably have to cover. The U.S. dollar is in the trash can and even if it does rally in the short term that does not necessarily mean gold will sell off. There is no technical indication in the charts that gold is anywhere near a breakdown. This is the 5th time gold has approached thse levels and the more a stock or commodity hits the top of a trading range the cheaper that price level looks. If gold were to pull back the Chinese would come in buying like crazy to offer price support. At this point it looks very uinlikely gold will drop below $1,000. per oz.
Larry,
I completely trust your judgement and gut experience. You have proven correct in the past.Thank you.
Well, I too respect your record. However, if you’re not willing to reveal any of your “signals”, why bother making a video at all? Whithout presented arguments, it might just as well have been replaced with a short written message on the site: “Gold & USD probably in fake-out moves”.
I couldn.t understand a word you said (9/17/09) –Technical problem. There were several overlapping voices. Maybe you could re-do it.
Just a few minutes later the audio problem cleared up. Thanks
Great V-Blog Mr. Edelson. I subscribe to the short-term outlook here. There are so many dollar bears and so many Gold/Stock bulls out there right now that a breakup in the dollar and a breakdown in gold seems to be on the horizon.
Ralph, I respectfully disagree with your assessment for the near-term dollar/gold moves, in that if the US Dollar rallies, you can almost certainly expect a sell-off in gold (and stocks). For the most part, the gold rally has been driven by a collapsing dollar. Technically, gold could have gone up in price here without any major buyers, simply because we are looking at the purchase of the metal in terms of dollars. If the dollar were to push up over 80, you will see gold back in the low 900’s level. There has not yet been a total loss of confidence in the public sector, which is generally what drives gold markets in times of crisis. We are not there yet. I believe that when Mr. Edelson refers to his long-term cycles, he is considering, among other things, a Public and Private sector confidence cycle. We have not yet hit the trough in the public confidence cycle, though we are most definitely on our way in the downward direction.
I also disagree that the “Chinese would be buying like crazy to offer price support.” If China wants gold, why not let it collapse to $750 again and save 25% – 30% on the purchase? No matter what the Chinese say out loud, a strong dollar would be useful for the near-term, allowing them to scoop up natural resource assets all over the world. Considering that Chinese state-sponsored firms have threatened defaults on short derivative bets in oil (and perhaps gold…?) I think some consolations may be made to keep them happy. If the Chinese default on these contracts, it could be a SHTF scenario for Nymex/COMEX, and the US govt probably doesn’t want that.
So, not only do the near-term cycles seem to be pointing to a US Market correction, a gold correction and dollar up move, but geo-politically, the game seems to be moving along in the same direction. That is, if you subscribe to the theory that China is saying one thing, and probably doing another behind closed doors.
On another note — it is also possible, considering the fact that we are engaged in essentially an economic shadow war with China, that exactly the opposite will happen. We don’t know all of the pushing and pulling going on beneath the scenes, so near-term forecasts are very hard to make… kind of like trying to isolate the specific position and time of an electron in orbit…
Finally — last note — I think the fact that Chinese citizens are being asked to buy gold/silver is a great thing. It would be fantastic if our leaders were telling us the same thing. I wonder, however, that when the real crisis hits over the course of the next five years, if the Chinese government may have plans to confiscate, much like we did back in the day here in the USA. Just a conspiratorial thought
Just some thoughts… that are subject to change along with economic and geopolitical happenings.
Thanks.
Mac
Larry, what would it take to “shake up” the current run in gold?
Also, what would it take to increase the value of the dollar?
Sure the dollar’s decline and golds move up are not the “big ones” but what would stop their target course from and then?
I certainly do not see a big enough correction or pull back in these securities to warrant waiting on the sidelines.
well…me again….just a personal suggestion….you may need to start to analyze the HK gold market instead of U.S one…since we all know that how MUCH “short” from the commercial one in the last COT report…however, which market has brought the gold price UP?? HK one, for sure…..it’s a testing…testing from Chinese Gmen, of course…..to whom?? you may have known the answer……as long as you see the whole pic instead of just piece of it…..the answer is so obviously….think about the coming flying pig.. what’s its mission?? why around this timing??? how come your Gmen is gonna give u guys the deadly jab the first week of Oct. 2009??? never wondering? yu’d better be….. coz….u know… the picture is too ugly to look at..but I am sure that you will see it since yu r in that territory…
the three links may save yur piece o soul ‘n your family ones…for sure….take ur time then…
http://recordings.talkshoe.com/TC-27564/TS-263553.mp3
http://www.youtube.com/watch?v=VkN-xbvLo-4&feature=related
http://www.youtube.com/watch?v=WwP0JvQtRqM
re: SHTF MAc
Good analysis. In the grand scheme of life, we (the little guy) mean nothing. The game is rigged for the Big Boys to win and your reasoning is spot on. The “To Big To Fail” banks got bailed out and are actually BIGGER than before and continue down the path that led to their problems in the first place. Larry’s intuition (gut feel) comes from 30 years in the trenches. Ya gotta pay attention to that!
R
well….needa get some sleep…take a look of how smart American kids are……
http://www.youtube.com/watch?v=rRY5waZ4IbE
R, thanks for the comment. And I agree with you.. Mr. Edelson has been in this game for quite a while. I am sure in addition to his technical signals, cyclical signals and gut feel, he takes into account sentiment, global news and perhaps a little bit of shadow game theory when making his analysis and recommendations…..
I think long-term, Mr. Edelson is dead on with his predictions and investment recommendations, both here in the US and abroad. Short-term, it is quite challenging and this is probably why he usually recommends specific stop loss points in his Real Wealth Report… one can never know for sure, especially when dealing with short-term trading.
Mac
well… I think all I have showed yu are gonna HAPPEN!!!! Though… I dunno who u r / wut yu r stand for… unless yu got protection from FBI / CIA / NSA / HSD…etc….dunno whether you serviced in military before….but from my past experience….I can tell yu that….you shall instead of should take ur family outta that country NOW!!!!! Of course…you may still treat this message as BS or wutsoever…u just forgot one thing…yu r there ‘n I am here….Asia….welcome to Asian….hopefully, u r decent enough… coz all I have seen the so called Amercian guys.. know nothing but screw all the Asian chicks…..who are stupid??? both of them to me….no offense…just….get ready for the worse….hopefully, u got enough guns ‘n bullets and a underground bunker…. keep this message personally and check it again… by the end of this year….
http://www.youtube.com/watch?v=oyFZOOT8ZBs&feature=player_profilepage#t=593
Dunno why I keep sending those link to u…probably ur sunshine-like smiling; however, without proper in-deep fully research…..that may become merely a pic instead of a real life….let me know if yu change yur address of blog…
http://www.youtube.com/watch?v=YPsxB9ol32c&feature=player_embedded
Please use a microphone as you have a lot of echo in the background.
See http://www.youtube.com/watch?v=ShVLrYpX_Zo&feature=player_embedded
History is doomed to repeat itself once again…..Dow is gonna hit 10,000 next week or after, probably…why? Is it being planned?? dunno remember the one I sent u last time, the Russia one with yur President??? Thing has gotten more interesting…. once again…ur Gmen don’t want u know to know this….so…it’s up to u whether you wanna post it or not…
http://www.fourwinds10.com/siterun_data/nesara/news/news.php?q=1253418557
September 20, 2009
Obama Warned By CIA, “Surrender Or Join Kennedy”
Russian Intelligence Analysts are reporting to Prime Minister Putin today that President Obama has been given an ultimatum by his own Central Intelligence Agency (CIA) to “surrender immediately or join Kennedy” over the American leaders plan to destroy that agencies power over his country “once and for all”.
According to these reports, former CIA Director and US President George H. W. Bush, along with 7 other former CIA chiefs, presented Obama with their ultimatum ahead of this weeks crucial United Nations and Pittsburgh G-20 meetings of World leaders where Obama is expected to break with the New World Order factions that have devastated his country and realign the United States into the ‘orbit’ of the Russian Motherland who has fought these monsters for decades.
The CIA threat to Obama that he will “join Kennedy” if he doesn’t capitulate to their demands, these reports continue, is a not so subtle reference to what happened to the last American President, John F. Kennedy, who dared to attempt to destroy the CIA and its New World Order factions by seeking rapprochement with Russia but which led, unfortunately, to the assassination of Kennedy on November 22, 1963 and the ousting by coup of his Russian ally and Soviet Leader Nikita Khrushchev barely a year later in October, 1964.
Not being told to the American people by their propaganda media is that Kennedy had appealed to Khrushchev to save the United States after his, Kennedy’s, discovering in 1962 the CIA and Pentagon’s plan to launch terror attacks against the United States in a secret plan named “Operation Northwoods”, and of which we can read:
“Operation Northwoods, or Northwoods, was a false-flag plan, proposed within the United States government in 1962. The plan called for CIA or other operatives to commit apparent acts of terrorism in U.S. cities to create public support for a war against Castro-led Cuba. One plan was to “develop a Communist Cuban terror campaign in the Miami area, in other Florida cities and even in Washington”.
This operation is especially notable in that it included plans for hijackings and bombings followed by the use of phony evidence that would blame the terrorist acts on a foreign government, namely Cuba.
The plan stated:
The desired resultant from the execution of this plan would be to place the United States in the apparent position of suffering defensible grievances from a rash and irresponsible government of Cuba and to develop an international image of a Cuban threat to peace in the Western Hemisphere.”
[Note: The previously secret documents on Operation Northwoods were originally made public on November 18, 1997, by the John F. Kennedy Assassination Records Review Board, a US federal agency overseeing the release of government records related to John F. Kennedy's assassination, and upon the younger Bush gaining the US Presidency were “dusted off” to great effect on September 11, 2001, leading to the Global war the Americans are still embroiled in.]
Khrushchev, upon hearing Kennedy’s pleas sent nuclear missiles to Cuba and stationed off the United States eastern coast areas a vast armada of nuclear attack submarines and warned both the CIA and Pentagon that should they attempt to launch Operation Northwoods they would leave the Soviet Union “no choice” but to launch an attack upon America.
Fortunately for the World, the CIA and Pentagon backed down and averted a Global Nuclear Holocaust, but as stated before, at great personal cost to both Kennedy and Khrushchev and their families.
Unfortunately for the World however is that these same CIA and Pentagon forces have now regrouped and consolidated their power bringing us, once again, to the point of our having to replay the same events of the early 1960’s, but with a much more ruthless and determined New World Order foe.
And to how determined these New World Order factions are is detailed in an FSB addendum to these reports detailing how US Federal Forces loyal to Obama have launched an assault against the CIA backed al Qaeda forces operating in the United States from their secretive base in Denver, Colorado, where they use their New World Order Denver International Airport to spirit these forces into their very own country.
As we had reported in our September 15th report, “Russia Reports Obama ‘Hit Team’ Taken Down In New York, Top Leader Suicided”, these rogue forces targeting the American President had their trail followed back to Denver where reports in the US are now stating two of these CIA-al Qaeda “drivers”, and ones father, have been arrested and are currently being interrogated.
[Note: The US Central Intelligence Agency (CIA) moved their domestic spy operations to Denver in 2005.]
It is also very interesting to note in the FSB addendum to this report the assassination last week of French Direction Générale de la Sécurité Extérieure (DGSE) agent Charlotte Mazoyer, who while working undercover in Ecuador and reporting on the historic removal of US Forces from that South American country, was reporting a “large and significant” transfer to the Denver International Airport of Incan Empire “time technology” rumored to be one of these ancient peoples “sacred calendars” said to predict our Earth’s most important cycles and events into our very times and which the New World Order factions are known to use in planning their actions and attacks.
Now the greater significance to the assassination of this French spy, and the events currently unfolding in the United States, lie in what is being described as the “biggest and most secretive gathering of ships in maritime history, and bigger than the U.S. and British navies combined” now sitting of the coast of what is called will be the New World Capital of the World by 2050, Singapore, and whose massive Changi Airport is one of only a few in the World able to handle all of the flights capable of flying from the Denver International Airport which has the longest public runway in all of the United States and is able to evacuate over 1 million people in a single day should the evacuation of these New World Order elitists be called for.
To what the true moves against Obama and the peace of our World these New World Order factions have planned it is not to our knowing, other than to state the obvious that “where there is smoke there is fire”. And on an Earth about to erupt in an inferno worthy of the worst apocalyptic descriptions imaginable, one would be deemed reasonable in preparing for the grave dangers about to fall upon us all.
well…I think u also need this…give it to yur family and READ it before the first stupid pig jab!!!
http://dl.getdropbox.com/u/2025346/The%20swine%20flu%20vaccines%20are%20extremely%20dangerous%20and%20the%20governments%20are%20preparing%20for%20forced%20vaccinations.pdf
Larry, please get yourself an omni lav mic to fix the sound quality of your posts. ECM55 as suggested above is good.
It should direct connect with perhaps an inexpensive adapter to your computer and software.