July 5, 2022 

Gold Enters Major Bull Market


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 By bluejay

08/04/2011  8:01AM

Gold $1681.20 UP $20.10
Silver $42.17 UP $ 0.44
Gold/XAU Ratio 8.09

The increasing fear factor of governments continues to attract new money into the gold market with the $1680 level falling today. It seems not only that gold and silver stocks are being shunned but platinum as well, being off $30.00 to $1749.

Platinum at a 1 to 1 ratio with gold has usually meant one of two things: either platinum is ready to advance in price or gold is ready for a fall. Usually, there are traders who closely follow the ratio, current at 0.96, and when it goes one against one, they put on a ratio spread by selling gold and buying platinum.

The price of gold is quite extended for the short term, registering a plus 14 in the current Granville up-field cluster. Holders of gold should be quite pleased with its short term performance but "gold parties" do come at some expense: they ALWAY seem to run out of gas.

Silver has surpassed chart resistance at the $41 level. We'll see how well it holds with gold reaching over-bought status.

If gold continues making new highs on its current run, it would be suspected some major negative development is approaching.
 By bluejay

08/02/2011  11:33PM

Yesterday from Martin Armstrong:

This debt crisis put a lot of people on notice US politicians are clueless. They kicked the can down the road but after the next election, look for this debt crisis to start to come apart at the seams. Then capital will start to shift as we get closer to 2016. That will be the biggest reservoir of capital to propel the stock market and gold to the outer stratosphere when it begins to pour out of the bond markets into assets.
 By bluejay

08/02/2011  1:32PM

Gold $1658.30 UP $38.00
Silver $40.83 UP $ 1.59

Gold continues pushing higher aided by the President, Congress and the Senate. These politicians are totally unwilling to seriously and intelligently address the problem of our run-away National debt.

The President Surrenders
Published: July 31, 2011

A deal to raise the federal debt ceiling is in the works. If it goes through, many commentators will declare that disaster was avoided. But they will be wrong.

For the deal itself, given the available information, is a disaster, and not just for President Obama and his party. It will damage an already depressed economy; it will probably make America’s long-run deficit problem worse, not better; and most important, by demonstrating that raw extortion works and carries no political cost, it will take America a long way down the road to banana-republic status.

The hedge funds continue to sell precious metal stocks short as the Gold/XAU Index continues to move higher, meaning better relative strength for gold against the shares, with a current new reaction high of 7.96.

Today is an important milestone for the gold analyst, James Sinclair. In the first quarter of 2005 he made a DVD explaining why gold would hit $1650 in 2011. It doesn't get any better, it was a perfect prediction. Congratulations Mr. Sinclair! You can follow him at his free website: http://www.jsmineset.com
 By Michael Miller

07/29/2011  3:44PM

To answer Bluejay’s question below: “Why do we get over regulated and harassed while these guys get a free pass to steal?”

The squeaky wheel gets the grease. Misinformed or intellectually lazy or arrogant or self centered or guilty or thieves, pirates and criminals or ego-centric men and women find it easier to pursue attacking the environment than the economic/political/social illnesses affecting our country and quality of live.
 By bluejay

07/29/2011  9:57AM

Below is a link to the Gold/XAU ratio chart:

 By bluejay

07/29/2011  9:26AM

Gold $1626.50 UP $9.30
Silver $40.02 UP $0.29
XAU 207.54 DOWN 2.60
HUI 545.71 DOWN 9.09
GOLD/XAU Ratio 7.83

Continuing bickering in DC with no concensus concerning the debt limit discussions has pushed gold up today. In the background is continuing naked shorting of the gold and silver stocks by the powerful hedge funds. Remember when gold rises and the precious metal stocks are lower, they make money both ways.

Adding to troubles for the holders of the gold and silver shares is the fact that the Gold/XAU ratio pushed above its 50 day average at 7.59 and is currently at 7.83. A higher continuing ratio equates to lower share sector prices.

As the debt limit controversy continues to boil expect it to be resolved at the last second with the participants all taking their bows accompanied by weakening metal prices and more naked shorting for shareholders, compliments of the fraudsters.

It is hoped this assessment is wrong with the precious metal stocks but greed is a powerful thing and their thirst for illegal profits is insatiable.

An appropriate question is: Why do we get over regulated and harassed while these guys get a free pass to steal?
 By bluejay

07/28/2011  11:16AM

The Chinese are buying gold.

 By bluejay

07/27/2011  5:57PM

Bob Chapman from the International Forecaster has these positive words for the metals today:

Comex silver inventories could realistically be only 33% of what they say they have. There is no question the exchange traded fund, SLV, has been lending the shorts silver for delivery illegally.

As you know there are no rules for these elitists. They do as they please. We also have believed for a long time SLV inventories are probably about 1/3rd of stated levels, or less. The positions of JPM, HSBC, SLV and others are staked against the reality of falling physical inventory and a deficit of production versus usage, plus investment off take.

That means to us that over the next seven months silver could be priced at $70 to $100 an ounce and gold between $2,200 and $3,000.
 By bluejay

07/27/2011  4:02PM

Educational video on gold.

 By bluejay

07/27/2011  10:27AM

Gold $1619.40 OFF $0.50
Silver $40.89 OFF $0.02
XAU Index 214.00 OFF 4.84
HUI Index 564.86 OFF 9.83

The gold and silver shares have been beaten down this morning while gold faded from earlier strength while making an all-time high at $1629.40. It is suspected that some hedge funds sense a temporary high in gold and have let the naked shorting beast out of its cage.

Also, gold was higher yesterday logging in its 10th recent high in the Granville up-field cluster. If gold closes at or near its low today, it is suspected that weakness could develop over the very near term. The signing of a debt ceiling limit could put the icing on the cake for a short term high, possibly being established today.

If anyone is curious as to why holding gold bullion in some form is better than the shares right now go to http://www.stockcharts.com and select for a chart $GOLD:$XAU and for the time period choose weekly and then hit the update button.

THe chart is representative of the ratio of gold to the XAU Index of gold and silver stocks. The old norm use to be from 3 to 6 until the bankers started effecting metal prices lower in incouraging depositors to keep their money with them during the financial upheaval a few years back.

Although they were only able to shock and awe the gold and silver markets temporarily the shares continue to be held hostage with a new higher norm on the chart which means continuing inferior value prices for the shares against the metals. As you can see from the graph, the recent norm is quite different than the old 3 to 6 range. In the past buying gold and silver stocks at 6 and selling them at 3 was the profitable way to go.

All this was helped along when some very big hedge funds and probably some investment banks starting using the naked shorting scheme while being long the metals. Profits have been piling up for them while most shares just stumble around like they were wearing cement shoes. Although there has been an exception with of the some stocks. This is especially harmful to the explorers who must depend upon refinancing. When the share prices get too low the companies in some cases have to do reverse splits to keep their share price at a decent level to attract refinancing. When new offering are made the naked shorts buy into them thus covering their short positions at a lucrative profit. Is this fair to shareholders of these companies? Of course not! But the bleeding goes on anyway. In the old days these types of crafty price manipulations were known as "bear raids."

When one views the chart it becomes clear, holding gold and silver has outperformed gains in the shares, overall. The blue line is the 50 week average, while the red one represents the 200 week average. In order for relative strength to return to the shares versus gold the 200 week average needs to be pentrated to the downside. Although some analysts are calling for an explosion to the upside in this sector, it just won't happen until the red line gives way to falling prices.

A side note here is: in the next few months expect to see increased offerings to absorb some good properties that explorers hold and whose share prices are not representative of their true values.

It will be "bargain day" shopping at Macy's for all of senior gold companies. A key for shareholders of these companies will be, don't fall for the old trick of accepting a 40% or so premium for your shares when they have been overly depressed by the fraudsters.
 By bluejay

07/26/2011  10:23AM

Ted Butler tells you why silver is so special:

 By bluejay

07/25/2011  10:58PM

Gold $1614.50 UP $14.20
Silver $40.39 UP $ 0.32
Gold/XAU Ratio 7.38 UP .16
Gold/Silver Ratio 39.99

Gold moved higher today reacting to the continuing debt ceiling drama in DC along with escalating concerns over Europe's shaky debt structure. Gold will easily advance in this type of environment as most of the shorts have been badly burned with few having any remaining appetite to get mauled again.

The gold and silver stocks along with silver still remain serious targets of the naked short sellers. Silver continues to be capped somewhat by the domestic banks as they still carry major short positions that have gone against them. Unfortunately for the longs, the CFTC doesn't require them to put up more margin as the bank's assets are pledged in lieu of margin calls. This is ironic as their "magic act", lacking full disclosure with added accounting tricks, to dress up their defunct pig assets with a dress and some lipstick is only a cheap cover-up, for most of them are realistically insolvent.

The miscreants will manufacture and sell all types of silver related paper instruments to, hopefully, suppress the metal. They have not yet learned their lesson. Selling short any bull market will eventually eat up anyone's capital.

It is suspected that J. P. Morgan is still holding some of their inherited Bear Stearns silver short positions with government guarantees against loss. That's right, if silver explodes causing sizable irreversible damage to those shorts, we cover their losses.

The two major gold and silver stock indexes, the XAU and the HUI were helped lower by the miscreants today as a result of increased naked short selling. The SEC and CFTC have been persuaded not to interfer with the naked short selling campaigns of the hedgies and the banksters.

Both averages are just below major resistance levels: the XAU at 220 to 225 with a last of 218.47 and the HUI from 590 to 600 with a last of 575.06. This is usually the position of these two averages when the dark side resurfaces. The shares will remain the target each time gold reacts or the rallies start to fade under these conditions. If the indexes gather up the strength to better the troublesome areas it could be the start of a spectacular advance but the percentages, currently, don't favor this.

It has been the practice of the hedge funds to be long gold and short the shares. This strategy has been an important income producer for some of them while the public holders in these shares suffer from their unbridled heavy handed naked shorting attacks. Along with the hedge funds, investment banks, for the most part, have also acted just like an organized crime syndicate with their daring confidence to beat the system with fraudulent naked selling.

It is certainly hoped that gold continues to push higher over the short term but today's advancing gold price took the current Granville up-field to a positive 9 mark from a plus 8 reading, cumulatively, last week. In the past a plus 10 days and just below have set the stage for past short term declines.

If Rome burns all this technical stuff is useless but don't expect this to happen over night now with our present day caretakers, as these folks are quite creative in their evil ways and will continue to be so, right up to the very end. Power is never easily relinquished.

The winning position has been since 2003 to: stay long gold and silver and the related companies, enjoying periods of strength and always standing ready to take advantage of short to intermediate declines on a scale down buying basis.

I must admit, buying a greater portion of the bullion and slight numismatic coins has been a priority for the past two years. Somewhere ahead in time the trend may change away from gold and silver being in a better position to advance versus the shares but so far, it hasn't happened yet.

Hope this helps everyone.
 By bluejay

07/23/2011  2:21PM

Gold $1600.30 UP $10.10
Silver $40.07 UP $ 0.75

The following comments were made today in the International Forecaster by Bob Chapman:

Today we watch the machinations in Congress, which is trying to muster an agreement on the short-term debt extension. Little is said about the long-term debt problem, or about the continuance of money and credit creation and zero interest rates, both of which are inflationary.

In this process our President has offered up the previously looted Social Security and Medicare programs. Programs the public has paid for to support them in their final years of life. Those who buy Treasury securities are the biggest losers. Even that 10-year note at 2.92% is losing about 8% of the value of its funds annually. Millions of investors are doing just that. The Fed believes that in order to keep the game in motion interest rates must stay at zero, the impact of excessive creation of money and credit, has to continue and the decimation of peoples savings and dollar purchasing power has to be destroyed in that process.

The idea is to let dollar holders take the losses as Congress and the Fed proceed on their merry way destroying our financial structure. Wall Street knows this, but is more than happy to go along with the program and in a slow process investors are switching to gold and silver coins, bullion and shares to offset the loss being foisted upon them.

The next question is one we have entertained many times before. Will government commandeer private pension plans, 401Ks and IRA’s in return for a government guaranteed annuity; will these retirement plans be traded for US Treasuries; or like one bill says, limit the amounts that can be removed and how many times you can remove funds?

The only way we know to protect yourselves is to get out of these vehicles, or borrow against them and invest in gold and silver related assets. Those of you who want to cash out and move out of the country had best do so soon. We believe there is a good chance capital controls could be put in place in the US.

We previously lived under such currency blocking in the 70s in South Africa and Rhodesia, now Zimbabwe. It is like being in a financial prison. Such restrictions would, of course, be wrapped in anti-terrorism terms, so few will suspect what is being done to Americans. The window of opportunity to leave the US is probably only two years away, or perhaps three years.

07/20/2011  4:06PM

The mine sold gold today at $1596.60 an ounce (spot price NY). Mike said this is the highest price ever received for bullion.
 By bluejay

07/20/2011  1:00PM

In the following linked article Martin Armstrong takes issue with some people who believe that by creating a gold standard it would help solve some of our problems:

 By bluejay

07/19/2011  11:01PM

By Silver Shield,on July 18th,2011

"This is the news that I have been waiting for and is probably the reason why silver has been so strong the past couple of days. The HKME(HONG Kong Metal Exchange) is starting its silver contract this Friday July 22nd! This officially breaks the Anglo American monopoly on silver. This will be the first time that Asians can buy and take future delivery of silver in Asia. No longer can the CME(Chicago Mercantile Exchange) raise margins close to 100% in 8 days. (Then refuses to lower them despite a 30%+ drop in 5 days.) The extended hours should also stop the 10 am smack down since traders can now access the HKME.

The silver shorts should be fearing the hundreds of millions of Asians that will be entering this small market. China alone has Trillions of dollars and they could drop .01% of that money into silver and explode silver beyond the control of the Anglo American Elite. The HKME contracts are also a lot smaller,only 1,000 ounces versus 5,000 ounce contracts."
 By bluejay

07/19/2011  2:46PM

Gold $1587.30 OFF $17.80
Silver $38.94 OFF $1.61

Concerning a technical perspective on gold, the probabilities are increasing that we may have already made or are going to reach a temporary high point soon enough barring a big negative financial development.

Some years ago the market analyst, Joseph Granville, did a study of short term buying and selling pressures. Granville determined from consecutive daily highs and lows there always seemed to be clusters of strength and weakness pushing prices.

Granville ascribed to these clusters the terms of "up fields" and "down fields." He found that these rhythm clusters travel a certain extent and then they reverse from exhaustion.

Gold's daily short term price pushes to the upside usually cluster at around 10 positive days, basically, in its up fields before a reaction sets in. This year in March, gold hit 1440 on 9 positive days as a tail wind, on June 1st a 10 day positive up field took gold to 1575 and yesterday gold hit about 1610 being pushed higher combined with the aid of an 8 day up field performance.

The up and down fields are basically strings of buying and selling sprees. Most of the time, excluding fundamentals, some traders just trade the technical picture while the media hasn't a clue and tries to explain price movements with their jibberish which is non sense. Traders take a contrary position as up and down fields appear to reach extremes.

So, is an 8 day up field enough on this ride to stop prices or will we have a few more positive days? There can be two down days(today is one) which will keep the up field intact but three will end it with the possible cluster of down days to follow. We'll just have to wait and see.

Silver continues to be volatile as compared to gold. Gold was off 1% today while the naked silver shorting community(four domestic bank) pounded it lower by 4%.
 By bluejay

07/18/2011  5:33PM

Silver, what a pretty chart:

 By bluejay

07/18/2011  5:26PM

Gold $1603.60 UP $9.50
Silver $40.53 UP $1.20

http://www.kingworldnews.com is the place to go to get all the information that you require in understanding why gold and silver, eventually, must go higher.

James Dines said just last week at the site, being interviewed by Eric King, that silver is headed to $300 to $500 an ounce. It's quite an interesting interview, as Jim is a colorful guy.
 By bluejay

07/17/2011  1:22PM

Bob Chapman : Gold and Silver to go up 150% by the end of the year


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