Gold Update: It’s Time To Buy These Gold And Silver Stocks

The famous gold investor John Doody announced in his July 2013 newsletter that “We have seen the bottom in gold”. At the time I was sceptical of this, but it seems that he may well be correct after all.

After Gold’s failed attempt this month at taking out the June lows, instead gold has now carved out a “higher low”, which would indicate the beginning of an upward trend. This “head and shoulders” type reversal patterns are bullish in nature (see video below).

I realise that gold and silver still have some major resistance ahead. However, as the video below shows, there are persuasive reasons for starting to build a long term “buy” position in gold and gold stocks for the months ahead.

Watch the video here:

What are your own views? Leave us your comment below.

3 Comments

  1. What about the Elliott Wave counts on gold? That shows there is still a 5th wave down to 1100 doesn’t it?

  2. Well you know Tapering is pretty much off the table since the stats are clearly worse than expectations and on top of that the summer was probably the highest peak of the employment rates you’d get in an economy considering all the students that flood the market during spring/summer.

    Now that that’s over you can expect job rates to look bad which clearly tells the fed not to taper. And keep on pushing it until it increases QE.

    Like Peter Schiff says, the economy survives on QE it dies by QE.

    Gold went down because of the fed saying they were going to taper now that it’s not happening you can expect gold to edge higher as expectations to taper fades….and they keep pushing it back.

  3. It is unfortunate that many continue to base their trading decisions on technical analysis in these heavily manipulated markets. Yes, technical analysis is the sine qua non for the trader’s tradecraft, but, as it is in the example of precious metals, namely for gold and silver, the governments of the world and their central banks have been decisively caught in the suppression of these metals for one primordial reason alone: precious metals constitute a clear and present danger to the continuing reign of fiat currencies, which at this point is the US Dollar. See http://www.dtic.mil/cgi-bin/GetTRDoc?AD=ADA554536; http://www.foxbusiness.com/markets/2010/10/11/debt-national-security-issue/. The powerful reversal in gold observed in the last few days is the product of unabashed manipulation as it continues to be scientifically documented by GATA and others. See http://www.gata.org/node/13185; http://www.silverdoctors.com/jeffrey-christian-slips-up-again-inadvertently-proves-illegal-comex-price-setting-in-silver/#more-34009; http://paulcraigroberts.org/2013/04/16/update-to-the-update-the-attack-on-gold-paul-craig-roberts/#. Technical traders execute entries to go long or short on continuation patterns, breakout patterns or reversal patterns. However, in the case of gold, follow through is never allow to be sustained in order to destroy bullish sentiment in precious metals. Yes, the day may come when the manipulators decide to remove the lid over the prices of gold and silver, and that day may very well be sooner than most believe, but it will be because the creators of the financial system choose to do so and not because precious metals move in the proper relationship of supply and demand, and free markets. It is abundantly clear that the world economy is being directed to the creation of a world financial and monetary system that will usher in as a result of the coming economic collapse, especially in fiat currencies and their treasury counterparts like bonds. The entire fiat system is a criminal enterprise that like all Ponzi schemes will come to an end via a worldwide economic collapse and that will be supplanted by a new world order financial system that will continue to benefit the financial engineers at the expense of the many. Gold and silver, and their related assets, will continue to be jerked around and continue to frustrate technical traders and will continue to scratch their heads in confusion as they get stopped out for a loss just as they immediately take a position.

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