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…Have gold and silver seen a bottom yet, and is there a turnaround soon in the cards?
No, and no…It is still business as usual as gold and silver languish around recent lows. There is no date one can mark on the calendar that points to an end of the Rothschild dominance over Western fiat currencies and their suppression of the anti-dote to all fiats, gold and silver…All one can do is to keep holding, and keep buying as much as one can suitable to their financial circumstances, and wait. There really is no alternative and complaining about it will not bring the day of fiat reckoning any closer.
The above introductory comments are edited excerpts from an article* by Michael Noonan (edgetraderplus.com) entitled Gold And Silver – An End Still Not In Sight.
Noonan goes on to say in further edited excerpts:
Many want to be the first to call a bottom, and almost all of those “many” have already called for a bottom, some more than once, but we will not likely be among them. We prefer to follow developing market activity, and let it determine when a bottom is final. The realization of a bottom can take days, often weeks to confirm. Those who have called bottoms in the past few years never had the patience to wait for confirmation, which never came, obviously.
Gold
Weekly gold has hit important support for the third time since the 2011 highs. There was
an immediate rally following the previous two tests, and it would seem one will follow
this one. There is a more positive sign on last week’s retest, for it is the only retest where
price opened near the low for the week and closed relatively strongly.
Below is a look at the weekly, daily & intra-day charts devoid of extensive technical commentary which can be found in the original article* as linked at the end of the article.
Silver
Silver is a different read, lacking the positive elements discussed in the gold charts. Not much can be said of silver until there is evidence of buyers taking a stand and overcoming the effort of sellers. In fact, silver remains in an oversold condition, so one cannot be very bullish about a market in a down trend and oversold within such a trend. It does not speak of any strength.
Below is a look at the weekly and daily charts for silver, again devoid of commentary, to provide you with a fast and easy read. For those interested in more extensive analysis please visit edgetraderplus.com.
Conclusion
Gold and silver have NOT seen a bottom yet, and there is NO turnaround soon in the cards. It is still business as usual as gold and silver languish around recent lows. All one can do is to keep holding, and keep buying as much as one can suitable to their financial circumstances, and wait. There really is no alternative and complaining about it will not bring the day of fiat reckoning any closer.
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.
*http://edgetraderplus.com/market-commentaries/gold-and-silver-an-end-still-not-in-sight
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Noonan’s Previous Articles:
1. Noonan on Gold & Silver: “There’s NO Turnaround In Sight!”
Things just took a turn for the worst, and there is no turnaround in sight. Unless and until demand enters the picture, price will continue lower until it finds demand sufficient to effect a change. For right now, there is no demand apparent. What else can be said. This is like watching a car teetering on the edge of the cliff, waiting to see if/when it falls. The trend is down, and that is all you need to know! Read More »
2. Noonan: “Gold & Silver Will Turn When They’re Ready & They’re Far From Ready!” Here’s Why”
Time is running out for all the 2014 enthusiasts that are calling for higher prices in gold and silver by year-end. The lessons learned from 2013 have been forgotten as not only are prices not beginning to move higher, they are making new recent lows. Incredibly enough, many of these prognosticators are paid pretty well by their subscribers. Lesson to be learned? Absolutely no one can divine the future. Stop listening to what others are saying, and pay attention to what the charts are saying – and below is a summary of just that. Read More »
3. Noonan on Gold & Silver: “The Market Is ‘Speaking’ & THIS Is What the Charts Are Saying”
This is one of those times where it is best to focus on pictures of the market, over various time frames, to get a better handle on what to expect moving forward, and a look at the charts tells us in no uncertain terms that the end is not yet in sight. Here is our read of what the market is saying, and has been saying for some time. Read More »
4. Noonan: Nothing Much New In Gold & Silver Charts – Take a Look
The market has not changed materially over the past many weeks/months and, as long as the market has not changed, expectations that the price of gold and silver should not change, either. Expectations are future hopes/plans that may or may not ever be realized. Present market conditions are the reality of what is, without getting into the mental gymnastics about the degree of reality reflected in the charts. Market activity trumps everything, and one works with that reality or risks substantial loss by favoring opinion/hopes/expectations. Below is what the charts are saying today. Read More »
5. Noonan: Comments On Developing Market Activity For Gold & Silver
Ignore those pundits who are saying PMs are ready to take off. If you apply a little bit of common sense, and you look at these charts, can you draw any other conclusion(s)? Always remember: the markets never lie and here is what they are saying. Read More »
6. Noonan: These Charts Say Trend STILL Bearish For Both Gold & Silver
No one knows when gold and silver will rally and anyone who says otherwise has already been proven wrong. Despite a decent rally in both gold and silver over the past 7 trading days, a look at the charts shows that both remain in bear market conditions overall with no defined indication of ongoing strength. Read More »
7. Noonan: Everything’s Upside Down, Including the Price For Gold & Silver – Here’s Why
We live in an Alice In Wonderland, circa Orwell’s 1984 world. Everything is upside down, and that includes the price for gold and silver. Read More »
8. Noonan: How Long Will These Low Prices In Gold & Silver Continue?
How long these low prices in gold and silver will continue is the ever pressing question on the minds of the gold and silver community and topic of so many articles written by the experts. While many have striven to provide an answer, and 2013 failed to match the “predictions” as to the “When?” issue, the best answer is: For as long as it takes. Here’s why. Read More »
9. Noonan: What’s It Going to Take to Cause a Sharp Price Reversal for Gold & Silver?
There is not a shred of evidence that the price of gold is about to embark upon a much higher trajectory. What the market is saying is that nothing in the news is disturbing the bottoming process. Read More »
10. Noonan: Gold Remains Low For These Compelling Reasons
The current unnatural control over the natural forces of Supply/Demand could continue much longer than most expect – the disappointing expectations for 2013 may repeat in 2014. Here is how we see the developing “story” that explains why gold and silver have not changed trend. Read More »
11. Noonan: Forget About $5,000+ Gold; It Ain’t Goin’ Happen Any Time Soon!
Tell us where in the charts below there are any indications that the “true” value for gold should be in the $5,000 – $10,000 per troy ounce range, or silver in the $100 – $300 range. If you see extraordinary bullish signs within them, let us know, because we certainly keep looking and cannot find any needle in these “haystack” charts! Read More »
12. Noonan: Gold & Silver Will Not Rally-to-the-Sky in 2014 – Here’s Why
No matter what you hear or read about gold and the prospects for substantially higher price levels, the trend is down, exactly opposite of what you know. When you compare what you know, an opinion, with what the market is telling you, the market is a more accurate measure, however counter-intuitive it may be to your opinion, [and THIS is what the markets are saying]. Read More »
13. Noonan: These Are the Facts About the Current Price Movement In Gold & Silver
We are starting to see some subtle changes in market behavior but the trend currently remains down for both gold and silver. For those who want to grow their capital, the best time to make a market commitment is with the trend and given how no one knows how the market will correct, it is best to wait and see first what the market reveals. Below are some daily and weekly charts on gold & silver charts to show you how things are developing. Read More »
14. Noonan: The Trend in Gold Remains Down – But For How Long?
If your perception is focused solely on where the price of gold is, as opposed to where you think or believe it ought to be, the elites would like to sell you a renewable subscription to their “Fiat Is Better” newsletter. Read More »
15. Noonan: Charts Suggest Lower Lows for Gold & Silver to Come in 2014
Because the natural laws of supply and demand do not apply to gold and silver, the only way we can track the influence of endless paper supply on the market is through the most reliable source, the market itself, and the best way to track the market is through charts. Let’s take a look at what they are conveying today. Read More »
16. Noonan: “Gold Ain’t Going Higher – At Least For the Short Term” – and Here’s Why
Does the fast-fading world reserve currency [the USD] look like it is collapsing? A look at the performance of the U.S. Dollar Index does not suggest that it is, weak as it is. If the fiat dollar is not in danger of imminent “collapse,” or even breaking down, then gold does not have this event as an impetus for rallying higher. [Frankly speaking,] until that changes, gold ain’t going higher, at least in the short term. Read More »
17. Noonan: Charts Say NO End In Sight for Decline In Gold & Silver Prices
No matter what the latest “news” development is for PMs that paints a rosy picture, those in the fundamentalist camp are looking through rose-colored glasses to expect change in the near future. The charts for gold & silver continue to tell a more accurate story that belie all known fundamentals, and the charts shown here depict a market in decline with no apparent end in sight. Read More »
18. Noonan on Gold & Silver: “When Fundamentals Fail, Charts Prevail” & This Is What They’re Conveying
Fundamentals are relative, charts are absolute. They accurately reflect all that is going on, regardless of reasoning/motivation and…right now, the charts are letting us know that higher PM prices are unlikely to occur anytime soon. Barring some kind of “overnight surprise” that will shock the markets, odds favor lower prices over higher prices unless and until demand shows up in chart activity. Read More »
19. Noonan: Charts are Infallible! Here’s Why & What They’re Saying About Gold & Silver
Some of the finest and most highly regarded minds in the world of PMs have been saying gold and silver are going higher…[but] the charts have “said” otherwise, and that has been the correct read…The fundamentals may be as bullish as can be [but] the charts are sending a different message. Read More »
20. Noonan: Gold & Silver Could Move Sideways for Another 1-2 Years – Here’s Why
Using past history of how price responds, it is likely that gold, and silver, could move sideways for another year or two. While this flies in the face of so many current, supposedly “expert”, opinions [mine is not based on opinion but, rather, is strictly based on the facts as conveyed by the charts. Take a look and you will see that too!] Read More »
21. Noonan: These Charts Clearly Show What’s Happening With Gold & Silver – Take a Look
Below is a perfect example of how the charts timed the movement in the price of gold and silver over the past week. Yes, you CAN time the market as this article clearly demonstrates! When the market “talks,” we listen.] Read More »
22. Noonan: “Where’s the Beef?” We See None in the Charts for Gold & Silver
Fiats have an unbroken track record of failing throughout all of history. Gold also has an unbroken track record of being a store of value for over 5,000 years. Yes, there have been hiccups along the way, and we are in one now. It is what it is, but what it is is also an incredible buying opportunity at “fire sale” prices….[That being said,] a look at the charts of the paper-tracked PM market [beg the question] … “Where’s the beef?” Where is the substance of anything? We see none in the charts. Take a look. Words: 610; Charts :4 Read More »
23. Noonan: NO Evidence of Change in Downward Trend In Gold & Silver…Yet
You will read more and more articles touting how gold and silver have bottomed. They have not, at least according to price behavior as determined by actual buyers and sellers in the market. Read More »
24. Noonan: Charts Suggest Potential Support for Gold Down at $1,040 to $1,100
If you want to make rabbit stew, first, you have to catch the rabbit so hopefully, first, we’ll see some concrete signs that a bottom is in before the regurgitation of “Gold is going to $10,000!” starts showing up in a host of new articles pandering for attention. The best way is to decide for yourself…so let us go to the most reliable source, the market, and see what the prices of gold and silver have to say about what everyone else has been saying about them. People have been known to exaggerate, even lie in their “opinions,” but the market never does either. Read More »
25. Noonan: Charts Suggest NO Ending Price Action In Either Gold or Silver – Take a Look!
Not one Precious Metals guru has gotten anything right in the last 18 months. All have been calling for considerably higher prices. Over the past several months none called for sub-$1,300 gold and sub-$20 silver. Crystal balls do not work and never have. When it comes to markets, anything can happen [but the charts convey that] there is no apparent ending action suggesting a selling climax or even a cause for a reaction rally. Take a look. Read More »