Jan. 15, 2004 - Gold $408.30 - Platinum $850.Jan. 15, 2004 - Gold $408.30 - Platinum $850.00 - Silver $6.19
Ouch! Gold Cartel Wins A Battle
When one door closes, another opens;
but we often look so long and so regretfully
at the closed door that we do not see the one
which has opened for us.
----Alexander Graham Bell
The Gold Cartel won this round.
That is bad enough.
What is almost as bad is to read the general Gold
market commentary.
All the pundits and reporters continue to talk
about is Gold and the dollar when that is not
the story at all.
It is all about The Gold Cartel versus the physical market.
When I woke up early this morning and saw Gold
down $8, I thought Osama Bin Laden was caught,
or a surprise Gold sale was announced.
The euro was a bit lower, the yen was higher
and oil (black Gold) was soaring at $35.30 per barrel
at the time – a scenario for Mother Gold to be
up a few dollars.
Instead, it was trashed.
For weeks The Gold Cartel capped Gold’s rally by
throwing all they had at it to prevent the price
from blowing through $430.
The specs piled in gradually and built up a vulnerable
position which the price-rigging managers were looking
to exploit and have been for some time.
They finally succeeded.
With an open interest of 300,000+, there is no telling
how much damage they could do in the days ahead.
It will all depend on how firm the physical market is.
If it stays firm, the stronger hand big specs will hang
in there and the technical damage will be minimal.
If it is very weak, it could get very ugly and Gold
could blow through $400.
Monster spec liquidations can be vicious.
My scorecard:
*Wrong so far on prediction on a Gold price explosion in January
*Right on what this market is all about: bankster mmm´s mafiat
market manipulations.
The most powerful financial market people in the history
of the world have got their way for the moment.
They had better savor their short-term battle victory
while they can because there won’t be much joy
for them in the months ahead.
Unless I have this all wrong, the powerful fundamental
forces at play in Gold will reassert themselves
in the coming weeks and will catapult Gold right
back up again.
Fast down - fast UP - mirror reflextion!
Fibonacci Price Levels:
Frequently, reaction trends will be 62% of
the prior trend, and new trends will be
162% of the previous correction, in the
normal market, without mmm-bankster
manipulations.
This time Gold will blow through $430 and
stay above that level.
Over and over you have heard me bring up
the $6 rule The Gold Cartel imposes on Gold
price advances.
Of course, that rule is lifted on price declines.
Soybeans go up 30 cents and down 30 cents,
not Gold.
Just more evidence gold is a managed market.
Gold has considerable support around the
$407/$410 area, which it partially ate
through today.
Good news! Just got off the phone with my GOLD
STALKER source.
There was an unscheduled phone conference this afternoon
with THE GOLD STALKER’S US buyers.
They have a NEW order for $800 million to $1.2 billion
to be completed between now and March. 72 tonnes
of new Gold buying is nothing to sniff at!
The orders are still coming out of Australia and
my source continues to believe they are for
mainland China.
If this is any indication what is going on all
over the world re Gold, this pullback will be brief.
First, margin call liquidation pressures must
be accommodated.
How bullish is this?
My commodity broker friends in Toronto are superb,
highly respected and know their stuff cold.
They had many clients who were perturbed because
they missed the recent Gold/silver move up.
For years they have waited for such a move.
Last week my friends targeted $408 Gold and
$6.20 silver (upped from $5.80 because of the
big silver advance) as prayer entry points
should there ever be a pullback.
"A gift if there ever was one it would be,"
they told their clients.
Both of those targets were hit today.
How many of those clients that desperately wanted
"in" do you think bought today?
I’m sure you guessed the answer: Zero!
That is a very bullish sign.
To every single man and woman, they were too nervous
to step up to the plate.
This also gives me encouragement this dip will be
as brief as it is brutal.
Had they all piled in, it would be an indication
there was a lot more pain ahead of us.
This doesn’t mean we go right back up, but we
shouldn’t stay down here too long.
Surprisingly, yesterday’s open interest barely
changed in both Gold and silver, which tells us
The Gold Cartel was pressing their case while
physical buyers were pricing their orders along
with some spec liquidation.
The silver action was interesting.
After such a steep run up recently one would’ve
thought it would have been belted harder with Gold
getting socked like it did.
With Gold dropping $8 to $9 early, silver made a
low of $6.15.
Gold continued to make low after low as the day
wore on, but silver’s early low held.
Very surprising!
Silver liquidations can be a nightmare.
This one could turn out that way too.
However, with the reports we have of such significant
cash buying, $6 should hold.
My guess is tomorrow’s low (if it takes out today’s
$6.15 low) could be it for the silver correction.
GOLD 2004 Bull Reflextion of 1980 Bulltrend
GOLD 2002 - 2003 is a mirror reflection of
GOLD 1978 - 1979, is
GOLD 2004 to be a mirror reflextion of
GOLD 1980 - Bulltrend,
GOLD TA on strong Bulltrend TI Longterm comeback...
https://cbs.marketwatch.com/charts/int-adv.chart?siteid=mktw&symb=38099902&sid=2213&time=20&startdate=&enddate=&freq=2&comp=&compidx=aaaaa~0&uf=7168&ma=1&maval=50&type=4&size=3&lf=1&lf2=4&lf3=0&1013&mocktick=1&rand=604274928&siteid=mktw
We may see Gold make a repeat of 1st week of Oct.
mmm's try shakeout of weak apples.
imo, All the Best! /W
