Friday , 19 July 2024

The Most Explosive Turnaround to the Upside — EVER — Is Coming In the Precious Metals Sector (+2K Views)

I am 100% confident that:precious-metals

  • precious metals will bottom this year and resume a new leg to the upside,
  • the extreme emotions right now regarding gold and silver are typical at major turning points and
  • all the underlying fundamental, cyclical and technical conditions for a new bull market in gold and silver are in place.

Here’s an update on the latest action in gold, silver, platinum and palladium.

The above are edited excerpts from an article* by the late  Larry Edelson ( entitled The latest action in gold, silver, and more!.
The following article is presented by Lorimer Wilson, editor of (Your Key to Making Money!) and the FREE Market Intelligence Report newsletter (sample here) and has been edited, abridged and/or reformatted (some sub-titles and bold/italics emphases) for the sake of clarity and brevity to ensure a fast and easy read. This paragraph must be included in any article re-posting to avoid copyright infringement.
Edelson goes on to say in further edited excerpts:
“While the short-term swings are always extremely difficult to pin down — and even far more difficult when entering a period where a major trend turn is expected I will get you as close to the bottom as humanly possible. Naturally, subscribers to my Real Wealth Report and the members of my trading services will get the first buy signals – I’m sure you understand why – and they will get the very first high-powered recommendations as well. [That being said, however,] I won’t leave you completely at the station. In fact, today I am going to give you an update on the latest action in gold, silver, platinum and palladium.
Let’s start with gold:

On the surface, gold looks weak again…[and] the swings are wild. The bulls and bears are duking it out more than I have seen in a while…[which is] typical of a major turning point. At the same time, the main driving force — the ramping up of the war cycles — is front and centerHere’s what you want to keep your eyes on:

  • As long as gold holds $1,268.40 on a nearest futures basis (roughly $1,267 spot), gold should whip back and forth, but begin a move that will eventually take it first to $1,449 and then to $1,657 (then pause, pullback and then rally even higher).
  • Short-term there is support at $1,272 and resistance at $1,331.

Here’s what you should be watching in silver:

  • As long as silver holds $18.68 on a nearest futures basis (roughly $18.64 spot), silver too should whip back and forth, but begin a move that will eventually take it first to $22 and then to $28 (then pause, pullback and then rally even higher).

…Make sure you have cash ready to deploy….[and] get ready to speculate on the unfolding new bull market in gold and silver…

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Platinum and palladium are now shaping up to be as bullish and as profitable as gold and silver are, if not more.

  • platinum and palladium are the two most widely used of the platinum group of metals, or PGMs,
  • demand is set to rise due to their increased use in pollution control devises, especially catalytic converters, where growth is exploding  exponentially, due to China’s and India’s auto markets and to increased mileage efficiency mandated by policy makers globally. In fact, the automotive sector now accounts for as much, if not more, than 38 percent of the demand for palladium and 71 percent for platinum. In addition, China has become a huge market for platinum jewelry, making up nearly 70 percent of global demand,
  • supplies are limited [given that] the ore grade, that is the amount of the metals found in ore, is declining rapidly, with a plunge of more than 50 percent in ore grades in Russia and South Africa combined since 1998 and
  • politically unstable… Russia accounts for as much as 54% of the world’s total mine production of platinum and palladium (while South Africa accounts for as much as 75% of platinum production and 38% of palladium production)…[and] there is the very real chance that we will see Russia sanction the West by withholding part, or even all, of its platinum group metals from the market.

Again, specific recommendations for platinum and palladium are reserved for my subscribers. For now, I merely want to give you a heads up that these are two metals you will not want to ignore if you intend on maximizing your profits in the next leg up in precious metals.

I end with the same message as last time: Stay tuned in, very tuned in, to all of my writings. If you do not, you may miss the most explosive turnaround to the upside — ever — in the precious metals sector.”

Editor’s Note: The author’s views and conclusions in the above article are unaltered and no personal comments have been included to maintain the integrity of the original post. Furthermore, the views, conclusions and any recommendations offered in this article are not to be construed as an endorsement of such by the editor.

* (Copyright 2014, All Rights Reserved) P.S. As I said at the outset, I am 100 percent confident precious metals will bottom this year and resume a new leg to the upside.  Don’t miss the explosive turnaround! Subscribe to my Real Wealth Report and you won’t be left in the dust.

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One comment

  1. Sooner (probably) or later PM will rebound because the US$ is now under attack on many fronts and that does not even count the Political issues we are facing that also have international currency implications.

    With that in mind, all those responsible for managing portfolios need to ask themselves, “How much value can my portfolio lose by not having at least some PM holdings”?