Gold And Silver Markets | Where Are Silver And Gold Prices Headed?

On September 19th I predicted on my Facebook page that Gold prices were set for an imminent sell-off.  The bearish double top pattern on the daily chart of Gold and the fact that Gold prices were over-extended on the weekly charts were warning signals that the yellow metal had some selling off to do.

Silver was a more interesting ride.  A week ago I was prepared to trade Silver long or short, depending on whichever direction it decided to breakout.  A short signal fired off just before September 22nd.  It seems I was quite conservative  about my expectations for Silver.  The 200 daily moving average only held temporary support before a further plunge on Friday taking it to close at $30.10.

So where are we headed next for Gold and Silver?  I prepared a brief video (above) which will cover the main points.

Personally I still remain bullish on these metals for the long term.  However, feel free to comment below and let me know your views too.


  1. This was spot on. Silver bounced off of $26. Out of curiosity, what is the software you are using?

  2. Gold held the 200 day and bounced back strong, silver too.

  3. Just saw your interview on BBC and found your site. Think….no–KNOW….you’re right on. Will follow you on Twitter.

  4. So, to be clear for a newbie like me, would you advise buying silver if it holds @ $26.47? How long would it have to remain at that level (or above) to give you confidence to buy? I am of course bearing in mind this information is for “educational purposes” only, and all that. Also, does the same hold for gold @ $1526?

    Thanks so much for sharing this interesting video.

  5. Thanks for the update. Where do you see silver moving forward? Personally I’m a buyer in the $30 range.

  6. Great interview! For those of us who can’t afford Mike Maloney, David Morgan or Eric Sprott, you’ll do just fine. Keep it coming, Alessio.

  7. Hi, just wanted to say you have BIG COJONAS speaking the truth on the BBC. I think the video is likely to go viral on youtube! Thanks for your honesty. Lets hope you don’t ‘mysteriously’ disappear. Watch ur back… Goldman Sucks may want to have a few words with you!

  8. Appreciate your candor in the BBC interview. Looking forward to following you on twitter!

  9. Hi, I also saw your interview on BBC. So glad how you spoke the truth. Also I want to bu stocks in Gold adn Silver but have no idea where to begin with and which ones to buy?

  10. Amazing interview on the BBC! Take care of yourself!!

    Will keep following you now on your blog….glad I found you!!

  11. Thanks for your BBC interview. It’s not like we don’t know the banks are broke. But finally someone admits that all the big financial houses know they are broke and the media dows not inform us of this.

    So where do I hadge?

    Where do we go from here?

  12. Bravo Alessio – thoroughly enjoyed your views on BBC – it has now officially gone viral. As an ex insider I have been sharing similar thoughts with friends and all I got was bewilderment. I unfortunately did not buy into the Fed/Wall Street-driven recovery in 09/10 and did not re-enter the market (I had exited equities in Nov 07 as credit markets were already signaling catastrophe) but have been expecting a big correction in equities for a while as everybody was drinking the banks’ Cool-aid while the real economy (jobs, housing, income) was/is going nowhere. I am still bullish on gold as Fed/ECB continue to print money – where do you see gold going on fundamentals?

  13. HONEST and BRAVE, well done CHAMP

  14. Where can i find information on how to make money from a crash?

    Could you do a blog post on the subject.

    About to follow you on twitter and Facebook. Just after i sell my euro banking stocks!

  15. i’m a little surprised that your model uses very simple and common indicators and patterns e.g. moving averages, double-tops, fibonacci retracements etc.

    and what of the fundamentals outlook which will dominate in the long term, please give us your thoughts on this?

    btw are you into using triangles, elliot wave, making your own indicators etc.??

  16. Nice speech to promote yourself, do the markets are finished? ROFL, get real.

  17. I try to keep it simple. Not just for me but also for my readers and subscribers. Obviously there is more to it than meets the eye. I do use some elliot wave patterns.

  18. Beautiful interview on BBC. Alex Jones will eat it up. I’m your newest fan.


  19. Great Interview I will definetly be visting your site more often! Whats your take on the possible JP Morgan manipulation of silve in order to cover there short positions on silver before the CFTC Meeting Oct 4th? Its my undrestanding that for JP to break even they need silver to be in the $12 to $15 range? If that is true the demand alone should drive silver to all time highs(again) their estimated shorts are around 120M ounces.
    At $26.00 an ounce I’m ALL IN before supplies run short. LOL Thanks – Todd

  20. Just watched your interview on the BBC. I think you’re pretty much right on the mark. I’ve also be waiting since March 09 for the opportunity of a life time. I missed the 09 rally due to fear and thinking we had a little further to fall. I now however think we’re getting very close to a good rally before making another major low next year. I use Elliott wave for trading and i think we are looking at a wave 5 low of 1040 on the SPX in October. Love to know your thoughts on the SPX and ASX.

  21. Now Gold is around US$1,639 and I am in Hong Kong. I am thinking of buying. What do you think?

  22. I retired in 2004, aged 38. After almost 20 years predicting financial market movements, publishing my forex, fixed income and stockmarket calls as research for Bank of America, Nomura, Credit Suisse and Barclays Capital plus representing them on all the financial television channels, I keep my market predictions pretty private nowadays. My models were/are very simple too. Nowdays I help amateur traders learn to execute like professionals, teaching them trading strategies and discipline instead of telling them when to buy or sell.

    Like hundreds of thousands of others I saw your candid interview on the BBC yesterday. It wasn’t as polished as you may have liked it to be and many will see it be unable to put aside their prejudices against bankers and traders thus missing your (correct) urgings to “Act Now”, “Protect Your Assets” and that “The Biggest Risk Is To Do Nothing” but you should be proud. Too many talking heads on financial television water their views down for fear of offending but in the process do the public no favours.

    Anyway, about gold, I think the ~10-year rally is over. We had a daily key reversal the day of the top, a weekly key reversal the week of the top and this month is shaping up as a monthly key reversal after creating a whole lot of long-term bearish divergence using simple momentum indicators. No one in the media is saying anything other than it will resume it’s trend. But the clincher for me that the bull market is over (the opposite of seeing the BOE confirm the end of the bear market by selling it’s reserves) is the recent news that the globally respected financial newspaper of one of the world’s top three gold producing countries is launching its first-ever competition for readers and the prize is gold bullion. If that doesn’t suggest saturated optimism I don’t know what will.

    Good luck.

  23. Totally get the gold price movement. Think gold will continue to drift downwards until the so called ECB allowance to leverage the current 400billion to 2 trillion starts to show cracks as all they are doing is postponing the inevitable. Greece Portugal Spain and italy do NOT know how to reduce sovereign debt – it’s not part of their citizens culture! So now can someone tell me where to buy gold and not have to worry about whether in a global meltdown my ‘gold shares’ are safe- or should I buy physical gold!!

  24. You were really brave on that interview, it was interesting to see 😉

  25. Nice work mate, well done!

  26. I think silver is heading to 23 and gold to 1,350. Long term gold very bullish will go back up to 2,500 maybe more, silver keep away too many yoyo effects….Not a good idea to hold Silver.

  27. @Fred: you forgot to mention Usa debt. They try to reduce debt but… will see. We all need to rewrite the rules of economy & finance, starting from debt, Gdp, ratings.

  28. people have a look at zerohedge site or steve keens in aus….time is short before the thing blows….BE PREPARED,because the middle classes are going to be the new poor..


    hahaha, Goldman doesn’t run the world. We share it 😉

  30. Spot on analysis man…I will follow you now.

    What say you silver by end of year? I say $100+ like brotherjohn and Bix Weir…those guys nail this market somehow…

    best to ya!


  31. Thanks Jim. Goldman Sachs does not scare me.

  32. I’ll post more on this soon Jep

  33. Pingback: Silver And Gold MLM – Is it the next big thing? | Article Lane

  34. Gold progress again for the next year ?

  35. Hi Daniele – I cannot recall if I replied to your comment on my blog. But Thank you again. I agree with your comments. In regards gold, currently the volatility of this market has been sucked out. It could potentially test its recent lows. Long term I am bullish. Cheers.

  36. Alessio,

    thanks for the video about “Where Are Silver And Gold Prices Headed”.

    I do think we are not going to see 26 next week. Here´s why:

    1. 30 is a quite strong support, because of the round number and
    2. because of the daily closes since Sept., all are above – and
    3. We have a up-trending support line from 26 as you can see on my chart, which did hold so far.

    What I´m looking for is what the price of Silver does if we touch the 50 day moving average again (50 dma on my chart, white). This should be either this week or the beginning of next week. If we break the 50 dma, I go long.

    Sorry for the busy charts, these are just my unfiltered working pics…..and feedback is welcome!

  37. sorry, I meant the 50 dma should be touched next week or the beginning of the week after.

  38. Hi Zoggl – I agree with most of your analysis on the Silver trade. Thanks for your feedback. Currently we are sitting under the 50 DMA and I see no problem breaking below 30 towards the previous lows at 26 – (although I agree with the psychological round number). It already breached 30 in september so it should be easier for it to break that level again.

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