Wednesday , 22 May 2024

Noonan: “Gold & Silver – Insanity Prevails; PMs Without Direction” (+2K Views)

It is futile to try and call for when a collapse of the “dollar”gold-silver2 and/or a change in the world’s monetary system (which may not be a gold-backed currency of some kind) will come. It is a near impossible call to make. All we can do is view the charts looking for change in the movements of gold and silver – and we see none at present.

By Michael Noonan ( as posted* on said site under the title Gold And Silver – Insanity Prevails; PMs Without Direction.

Despite all of the glowing fundamentals on silver, the charts below show a market drifting at lower levels with no signs of a turnaround.

Silver: Monthly Chart

SI M 28 Feb 15

Silver: Weekly Chart

The same holds true for the weekly chart.  Nothing new here.

SI W 28 Feb 15

Silver: Daily Chart

The chart comments cover what is going on.  Not much, for buyers.

SI D 28 Feb 15

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Gold is also a market looking for direction, either way.

Gold: Monthly Chart

GC M 28 Feb 15

Gold: Weekly Chart

There is still a series of lower highs.  The lack of direction is readily apparent.

GC W 28 Feb 15

Gold: Daily Chart

This is an instance where a 5 second look is all that is needed to assess the chart.

GC D 28 Feb 15

Insanity: Doing the same thing over and over and expecting a different result (Albert Einstein) and that is precisely what the markets are doing in gold and silver these days!

*Original Source:
[The above article is presented by  Lorimer Wilson, editor of and the FREE Market Intelligence Report newsletter (sample here) and may have 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. The author’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article. This paragraph must be included in any article re-posting to avoid copyright infringement.]
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