Next support levels for gold and silver …

Gold and silver are stair-stepping lower, toward their next support levels. Meanwhile, as expected, the dollar is strengthening and the Dow is looking great.

Best wishes,

Larry

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}

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P.S. My newest Real Wealth Report is hot off the presses! Find out why I think the U.S. dollar is looking better … what big development is in store for the broader markets … and why it’s time for a little less caution and a lot more action. You won’t want to miss this — click here to find out how to get your copy today!

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External Sponsorship

Is everything really all better?

While the Dow recently hit 13,000 and it’s up over 14% since December… many people think the worst is behind us.

But when you ask yourself: Are you earning more? Are taxes falling? Is the housing market improving? Is the euro problem solved? Has the U.S. government fixed its debt problem? Have we paid off trillions in personal debt?

The answer to all is a resounding “NO”. Which is why it’s crucial you listen to what world-renowned economic forecaster Harry Dent has to say about the stock markets and the U.S. economy over the coming five years.

It’s best you’re sitting down when you watch this.

}

IFTHEN(FIELD9=3) {

P.S. My newest Real Wealth Report is hot off the presses! Find out why I think the U.S. dollar is looking better … what big development is in store for the broader markets … and why it’s time for a little less caution and a lot more action. You won’t want to miss this — click here to find out how to get your copy today!

External Sponsorship

Is everything really all better?

While the Dow recently hit 13,000 and it’s up over 14% since December… many people think the worst is behind us.

But when you ask yourself: Are you earning more? Are taxes falling? Is the housing market improving? Is the euro problem solved? Has the U.S. government fixed its debt problem? Have we paid off trillions in personal debt?

The answer to all is a resounding “NO”. Which is why it’s crucial you listen to what world-renowned economic forecaster Harry Dent has to say about the stock markets and the U.S. economy over the coming five years.

It’s best you’re sitting down when you watch this.

}

IFTHEN(AFF) {

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}

IFTHEN(FIELD9=0) {

P.S. My newest Real Wealth Report is hot off the presses! Find out why I think the U.S. dollar is looking better … what big development is in store for the broader markets … and why it’s time for a little less caution and a lot more action. You won’t want to miss this — click here to find out how to get your copy today!

}

Video Transcript

Good morning. This is Larry Edelson for my Uncommon Wisdom video update for Monday, March 19. I’m actually recording this video clip from a hospital room where I’m having some tests done and have to stay overnight.

Not to worry, though — I’m on top of the markets. I have my laptop with me and I’m watching them very closely. So having said that, being in the hospital this will be a rather short update.

Gold and silver are moving nicely now to the downside, as I’ve been forecasting. Let’s quickly go to the gold chart here. This is the same chart I showed you last week, where the rally failed to give the important monthly buy signals. And now you’re seeing gold stair-step lower down to this next support level, which comes in just below $1,600 and $1,585.

I do expect that we will fall lower than that, below $1,500 on this next leg down, as I’ve noted to you in my written work.

Let’s now take a look at silver. Like gold, silver’s rally failed on the monthly February buy signals and silver is also stair-stepping lower. First primary support will be found just above the $30 level and then will probably fall down to about $25 thereafter.

The next chart I want to go over with you is the Dollar Index. The Dollar Index, as I indicated to you last week, would probably move above the 81 level, which is precisely what happened. You can see that right here.

We did sell off a little bit in the latter part of last week; however, I do believe that the dollar is going to continue to rally higher, as high as the $84 level up here, as the euro continues to weaken due to the European sovereign debt crisis, which has not been solved by the recent deal to bail out Greece.

Now let’s take a look at the Dow Industrials. The Dow Industrials are acting very, very nicely here. Not so surprising to me, as I reported to you we did get a monthly buy signal in the Dow Industrials.

I am a little bit surprised we’re moving up so quickly. It makes me a little hesitant. I’d like to see a pullback and test of the 12,900 level from the recent action up to 13,253.

But overall, the Dow Industrials is looking more and more promising as far as the long-term bull market (that I’ve been warning you about) would unfold.

It has arrived sooner than I expected — there’s no question about that — and it’s not yet time to fully deploy capital in the stock market.

But please, stay close to my signals and writings on the Dow because a lot of people are going to be very surprised on how the blue chip and cream-of-the-crop stocks in the United States, especially the Dow Jones Industrials and S&P 500-type stocks, take off substantially higher over the next few years to come, reaching at least 20,000.

So please stay tuned. I’ll tell you when to deploy your capital safely in the Dow. You’re not going to see anything at this point. Look for a little pullback then we’ll be deploying more capital.

Until next week, this is Larry.

Your thoughts on “Next support levels for gold and silver …”

  1. Larry:

    I hope all is well with you and the tests will be negative. I pray that you are healthy and will be back with your family quickly.

    Best wishes,

    John

  2. Dear Larry ,
    Wishing you well .
    Many thanks for your video report today .
    Richard ,
    Chesham , England

  3. Great. Dow industrials are acting very, very nicely here. Did I miss something or more likely have you forgotten
    that the last recommendation was to remain in the triple short relevant ETF until further notice? Please clarify.

  4. Praying for you, Larry! You are our favorite analyst, even though we don’t have anything to invest. Really miss not seeing you every week like the good ol’ days.

  5. Thanks for your great tips! My wife made $1,000 on her $5,000 Roth IRA with you in one year, before she cashed it in and spent it before the bottom falls out of the dollar. Hope you’ll be well soon! Try encapsulated Vitamin C!

  6. Wishing you a speedy recovery from whatever is going on. Make whatever lifestyle changes are necessary to maintain your health. Without your health there is little that life can offer you.

    Best wishes.

  7. Hope all is well! I am sure you have been advised by many in natural supplements but I am living proof in many healings from using certain supplements. I would probably be an invalid (body busted up over years) if not for them. I know there are a lot of hucksters out there but if need be I can offer some suggestions! No charts needed for these and no fees. lol Hey, it’s like taking chicken soup, what can it hurt. May The Lord Bless you! Mike

  8. Larry, hope your tests go well. I’m a big Silver buff and follow your uncanny ability to call the ups and downs of Silver, thanks for your updates, Craig

  9. Thank you, Larry, for this up-to-date up-date and for the new issue of your Real Wealth Report. I am sorry to see that you are in the hospital, and I hope that everything will go well with you. Now, please keep us all FREQUENTLY and REGULARLY informed of your take on how you think things are developing. It’s up to your readers to decide how to use your opinions – that is their responsibility. I don’t use them in just the way you recommend, and I imagine that many others do not do so either. Nevertheless, your information is one of the main sources I depend upon for the decisions that I make, and it works badly for me when the flow is interrupted. Thanks again, and best wishes.

  10. Hi Larry,
    Hope your tests are all positive and okay, take care,
    Best Regards,
    Darrell

  11. Mislabeled. Should read “Lower bond prices are not good for the dollar” ,,, but the chart is self explanatory.

  12. I lost my shirt last time I went against Larry’s advice. Now I know that for long term trends, Larry is one of the best analysts you’ll find. He seemed strained in this video, I hope his medical condition isn’t serious. Get well Larry! You’ll be in our prayers.

  13. Thanks Larry for your updates – have been following them closely for over a year. Wished that I had your advice earlier 2 years ago.

  14. What your position & Harry Dent’s are in opposition to each other??? Please explain!

  15. Thank you for the update Larry – I’m a junoir trader and appreciate your insight into learning into the market.

    Bless you and hope your out of the hospital soon.

    Bryan

  16. Hey Larry a prayer goes out to you in hopes your health is alright.
    We are blessed to have wealth in our lives to protect our loved ones but our health is overall our most valuable commodity.

    All the best Larry. Take a break from your work and enjoy it with your loved ones!

    Weston!

  17. It looks like the dollar is being sold and the Euro is being bought. The perception may be that the Eurozone has at least temporarily solved it’s sovereign debt crisis while the U.S. has not made any progress towards solving it’s debt load. Silver and gold look like they are breaking out of falling wedge correction patterns.

  18. Larry, have you revised or changed your outlook in the DOW with respect to a pullback?

    Thank you
    Wes

  19. You are obviously in tune with the manipulations and trade accordingly because there are NO reasons the Dow should rise, ONLY FED and friends $$$$$ into the stock mkts, as we anticipated!! There IS an election coming this year so they will make the mkts “Appear” to be on the rise with a lot of MSM BS behind it to suck in the masses. Gold and silver MUST be kept down with PAPER MANIPULATIONS co-ordinated slams to keep up the appearance of “value” for the FIAT CRAP that is now almost WORTHLESS, Keep on trading the Big Banks manipulations and you will continue to do well. TRUTH! it isn’t anything other than that!.

  20. Hi Larry,

    You stated you were in the hospital. Hope you are O.K. and doing well.

    Take care youself.

    Ed

  21. larry ;

    some weeks ago you you mentioned companys that you thought were honest gold traders i seem to have missed placed my copy would you be so kind as to refesh you recomedations

    thanks don

  22. US Treasury interest rates are the key indicator, although, as in everything else these days, clearly manipulated. Having said that, the Fed cannot control the entire yield curve at all times. Also, foreign holdings in treasuries will dictate rates as they are liquidated back to the Treasury. When, not If the Great Bond Bubble enters supernovae stage, looking for lower PM prices an exercise in futility. Still waiting for $23 silver Larry? since early last year. In this case, the broken clock is never right.

  23. Hope this is nothing serious but a routine work up. Please take care of yourself so you can continue to do what you do which I believe is your passion. Always look forward to your video updates, I just wish you would do them weekly. Anyhow, please take care of yourself and may God bless you.

    Thanks for your research, comments and market analysis.

    pablo

  24. Need the name of the ETF that hold gold, audited and guaranteed by a Swiss canton. Thanks

  25. 2 weeks ago it was everyone was gonna be surprised to the downside in the dow. just cuz a monthly close all the sudden u go from 9000 to 20000? what gives larry

  26. The dow is acting like it is either catching up to something or fear rush away from something. I suspect the latter is more close to it as bond market money exits are going to the old safe haven. There just isn’t enough gold for all that bond money and euro is crapping out.

    I suspect gold selling is profit taking making up for losses or fear of losses from other areas. ie, euro, china and other stability area failures. In short gather whatever winnings you have, get out of the no-profit bond market, and jump on the fatted corporations as banks are positioning to through some of the money that was through at them to the new boom.

    Larry’s systems foresaw all this coming. Great, great forecasting.

  27. Hope you are feeling better! I always enjoy your updates and reading your monthly newsletter.

  28. I would not wait for gold to go to $1500. The right shoulder of an inverse head and shoulders pattern on gold has the bottom at $1600…plus the long term weekly trend line on gold has support at around $1600. I would be a buyer with both hands at this level. Just my 2 cents.

  29. One only has to look at gold relative to the dollar index to get a clue. The dollar is at the top of it’s trading range and gold is holding nicely. The dollar strength is indicative of currencies keeping a lid on foreign exchange rates. Brazil and China are clear indications of this action. They have no choice but to buy dollar debt to keep their currencies from spiraling out of control…….. for now. It allows a country like China to keep accumulating tangible assets on the cheap. When the dollar debt has no where to go but back home due to lack of interest abroad, the full effect of money creation without GDP grows will pick up pace. Current higher energy and food cost should make this obvious to some of you who understand that the bond market is the only worthwhile indicator. How many of you have read “when Money Dies”. If you are not familiar with this remarkable book and it’s well researched work on Inflationary monetary Policy of the Great Depression, I suggest you take a peek. An interest in history and relevance to today’s economic climate could not be more apropos.

  30. Lower bond prices ARE good for the dollar….. as long as you keep getting buyers for them. It is all about flow and velocity of money or debt- as they are the same thing. The rollover of this debt load is the problem. Having the principal part of the debt rollover is what keeps things from caving in. When the principal part of the debt fails to rollover, money dies. It goes back to it’s original value…. 0.

  31. Also, the value of a dollar depends on the side of the trade you are on. If you are saving them…. you lose. If you spend them on tangible assets……you win.

  32. Larry,
    Two questions:
    1) What is your “new” call for a bootom in the correction which we all have been anticipating since Oct/Nov? You were calling 9K on teh DOW and we only reached 10.3K on the DOW in early Oct. Do you still see an immediate correction on the horizon before teh DOW starts to ascend towards that 20K level you speak about?

    2) Weiss Reasearch sends out conflicting info. Some experts recommend buying metals now, some like you do not. Others recommend longing oil, others do not. Today, we got a video calling for a DOW of 3,3,00 http://www.boomandbustinvestor.com/pages/bnb/video/BNB1_NEW.php?pub=BNB1_NEW&code=LBNBN306 while you speak of a DOW 20,000. HELP!! We need some clear cut clarification on these trends and some macro timing outlooks so your subscribers are CLEAR on recommendations. Thanks

  33. I have been following your buy & sell signals for all markets for a few years now. You were very convinced that a DOW correction to 9,000 was imminent.
    As a result of the Feb 29th action, where do you see the DOW’s revised bottom during the upcoming correction?
    Is it still 9,000? Please give us (your subscribers) your take on what you think the DOW will do in the coming week/ months ahead and where is the new bottom now that the DOW has demonstrated so much strength?
    As always, thank you for your insight!

  34. Hey Larry….I enjoy your market overview…Many opinions out there…I am a freebie newsletter subscriber ..
    DOW 20.000 ???? Hit the roof…it would be hyper inflation….and NO WAY…would the powers to be allow all the 401k investors to gain wealth…nwo the idea is world dominance…smoke and mirrors…sorry…but the financial fundamentals are gone…It is hard to wrap your mind around the fact that there are truly evil greedy forces in the world…and Benny boy…did not see the housing bubble..and he is controlling the interest rates outside of my textbook learning…and the rating agencies are now selling insurance annuity to the unsuspecting…hey too big too fail….well Arthur Anderson…point made !!! 600 trillion CDO’s

    The war of the kings queens and princes and the demons for total domination….get well…time is nigh !!! thnxs…

  35. sorry i meant acopoco !! you would not believe how short life is ! sorry mr weiss but the man is working from a hospital bed and you havnt stopped him bob

  36. Larry,

    Good luck with your medical checks. Hope the results are positive for your good health.

    Look forward to hearing from you when tests are over.

    Best wishes,

    Noel.

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