Tuesday , 20 February 2024

Noonan: Lower Gold & Silver Prices Materialized As Expected – Here’s Why (2K Views)

An inordinate build-up of short positions in silver by the “smart money” or crowne-gold-silver-bullion_l“insiders” implied lower gold and silver prices and the charts shown here confirmed that.

By Michael Noonan (edgetraderplus.com). The original article* was posted under the title Gold And Silver – Probability for A Lower Low Has Increased.

The above mentioned large traders do not make such overtly strong commitments to the short side without expectations that things will go their way.  If anything can be said about the market manipulators, mostly the elite’s central bankers/Wall Street/Fed, it does not really matter as to accurate identity, for they hide their source[s] very well.  What matters is the outcome from the effort, and to date, there has been a lot of “smashing” success in taking both silver and gold lower, at will, and with no opposition. The graph below from goldchartsrus.com is worth the proverbial 1,000 words and has ominous implications as the breed of faction behind these kind of moves make them for good reason and with near “slam dunk” assurances.

Silver Shorts

…The Concentration Of Traders Chart above may influence silver over the next several months [but] the timing of unfolding events is impossible with so many developing surprises, like what is happening in Greece [and the possible] upsetting of the EU’s money apple cart…[That being said. however,] the reading of the charts is irrespective of specific news and/or events…[and] reflect all that is going on…


With a new recent low just two weeks ago, there is no way silver can be viewed  as being in anything other than a down trend with the possibility of still lower prices to come. Even with lower prices as a possibility, silver (and gold) is artificially being suppressed.

When you reflect on the increasingly faster pace of events unfolding, almost all negatively, owning silver and continuing to buy more and more is one of the best ways to protect oneself from the financial failure that is certain to come. Price should not matter, any more.  You either have silver and gold or you do not. If you do not, you are at grave financial risk when the U.S collapses economically, and it will as the Fed’s fiat (worthless) “dollar” is increasingly under attack.

Silver: Monthly Chart

We have refrained from putting a time frame on when silver and gold will finally break free from the manipulative forces, but 2015 could be a defining year.  It remains to be seen, but events are unfolding at such an increased level, and so unpredictably, that this could be the year.  We did not say this in 2013 nor in 2014, and it may take going into 2016, but be prepared, or you will not be spared.

SI M 31 Jan 14

Silver: Weekly Chart

Silver’s direction has a greater degree of clarity than gold, at least in the charts. The narrower range at resistance, 2 weeks ago, said sellers were protecting that price level and preventing buyers from extending the range higher.  Last week’s decline had greater ease of downward movement, noted by the larger bar.  This keeps silver on the defensive, and caution is warranted.

SI W 31 Jan 14

Silver: Daily Chart

The volume and price activity, since November 2014, has a more positive bias, but the trend has not turned up, and caution is advised.  This does not imply to exercise caution in continuing to buy physical gold, and silver, as much as one reasonably can because price will not stay down here for much longer and there may not be the degree of availability, either. It is best not to be penny wise and pound foolish.

SI D 31 Jan 15

Gold: Monthly Chart

As the chart comments imply, gold is not an easy read, nor should it be, given how it is in the middle of a Trading Range where the level of knowledge is at its lowest when it comes to making an informed decision.  With a greater level of ambiguity in gold, the somewhat more certainty of the silver charts may be a swaying factor, here.

GC M 31 Jan 15

Gold: Weekly Chart

GC W 31 Jan 15

Gold: Daily Chart

The message is mixed on the daily chart.  An area of apparent resistance held to push price lower last week yet the activity is holding half-way retracement areas which is to be expected in an up-trending market, and less so in the current gold market. IMO a clearer analysis needs more time.

GC D 31 Jan 15

Keep buying the physical, and do not fret over what you paid on previous purchases. Physical gold and silver are being bought for a specific purpose, and price is not the objective – security is.  Remember: “if you do not hold it, you do not own it” has proven to be true in too many cases.  For sure, do not keep any gold or silver in a bank under any circumstances, including and especially retirement accounts.
[The above article is presented by  Lorimer Wilson, editor of  www.munKNEE.com 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.]

*Original Source: http://edgetraderplus.com/market-commentaries/gold-and-silver-probability-for-a-lower-low-has-increased

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