Gold. Bottoming Out.

[chevyvictor]

Bullshit Theory is: gold is worth less. Practically gold is hard to source at the mysterious low price! All that so called cheap gold just doesnt exist LMAO!

[chevyvictor]

lower gold prices is the NWO& IMF trying to take the lustre off gold to try scare everyone off it. I will buy plenty gold when it bottoms out even more.

[reneetd]

Let the bottom drop out of it. Then I can start buying again and get plenty of material for my money. Silver will be the king anyway. The Fed has insured the up side potential of both for a generation to come anyway. Let's hear it for $250/oz! and $4 silver Rah Rah Rah! No? One can dream anyway....

[asnem1618]

Gold and silver always experience much steeper sell-offs than advances. Look for a bear flag or equivalent to form about here,($1115) followed by a test of support around $1075, then an assault on the $1300 level.

[mlndstream]

Sri Lanka? whats happening in Sri Lanka that is of concern? would really appreciate knowing, as my flatmate and good friend is over there helping his family after his father has just died of cancer, so is there an immediate risk concerning Sri Lanka?thanx for any help

[allblackx]

How do you go long on gold ? I thought you bought only the metal itself.?

[stellaconcepts]

i do trade as well... I broke even on my trade, when it rallied I set stops to break even and it hit that.... so looking for another entry.

[Seano71]

like I saiw to linux23, we have until the first week in february to buy.  Know any way I can get my hands on some cash to buy silver with until then?

[linux23dragon2008]

I smell a default coming, if not in action right now.

[Seano71]

Same, this is the calm before the storm. Wait for the jobs report in february for january when ppl hired for the christmas period are sacked. Gold will shoot back up again. Soon is the time to buy silver

[oc5nsli341nforce4]

Don't be phased by the correction when the banks burn the paper in bonfires when it is demonitzed.

[seadog92023]

When the US markets correct, do you think the mining shares will correct as well, or will they decouple and soar?

[Michael7893]

i kind of expected this. even warned about it a bit but eh. what do i know but january through march will prove even more corrections just my humble opinion.

[daveashe]

Whats happening is this.. its too expensive, and it has gotten ahead of its self in terms of speculative buyers, so its going down. If it wasn't the east would be buying more. Price VS GBP is still fairly high.

While prices are still low Gold/Silver will not go parabolic, just wait until the s**t hits the fan next year.

One thing you dont mention is this: if the dollar carry trade fails, this would be devastating and everything would lose value and would be highly deflationary.

[Eraser7622]

Aren't you ignoring the worldwide demand for gold that has been absorbed by paper gold, i.e. ETFs? If one were to take that gold demand into account, minus those who only want exposure to the gold price action, then it is far to CHEAP given simply supply/demand dynamics. This is all coming to a head and when the COMEX busts or the CFTC is forced to reduce non-producer hedging in the gold/silver markets, the true price of gold/silver will be much, much higher.

[CASTILLOM1]

Yes sir well said!!! ETF's are the devils instrument, they artificially keep the price down and at some point in the very near future will be exploding in the faces of investors foolish enough to buy them.

[projectdurden]

Its funny how those that want gold to go up are the ones that are saying that the FED is doing everything wrong. In other words, if the American dollar goes up in value, thats a good thing, but the gold traders all talk like they want it to go down. Go figure.

[NeddLudd1811]

The actual gold traders make their money from buying and selling, they would like a middle affordable price where they can put a mark either end and churn high volume, the volume is their profit. When gold goes crazy like it is just now they cant get their hands on enough volume to make their money. Coins can also become too expensive for the average small coin dealers customer. The anti fed crew are different they have bought their gold and are waiting for the end of the world.

[M3minusGrowth]

The price of gold used to be around $300 a ounce around the year 2000. Since then the Fed (privately owned bank) has created the housing bubble with vast amounts a aggregate money supply that surpass the rate of GDP growth. If the Fed was doing its job correctly the rate of GDP would equal the rate of aggregate money supply (M3).

[Raycheetah]

Google: "Gold Price Cheaper Now than at $300 Hathaway"

"...gold seems as undervalued at around $1,200 as it did in 2001 at less than $300 because the outlook for the US Dollar and the entire fiat money system tied to the greenback has undergone drastic change. Similar to a stock price that has gone from $25 to $50 yet has grown earnings and cash flow by four times, the gold price is, by some measures, cheaper at $1,130 than it was at $700 two years ago." =^[.]^=

[Madcash67]

John,

I think there may be scope for a $1050-1070 test for support. If that plays out I think the move to the upside will be quite explosive as the BRIC countries may not believe their luck.

[stellaconcepts]

No-one will believe their luck - thats why I dont think it can get there....

Lets see huh?

[ejbh3160]

Its being MANIPULATED... thats why the IMF sold off gold recently.. so that it could depress the price for a while (during which time things will be 'fixed' behind the scenes)

Its an international (illegal) scam to strengthen 'fiat money'.

[fox20012]

could this be the huge short positions? china could have coaxed the shorts in for this correction to buy???

[slobomotion]

Hm, Ainslee still hasn't gotten back to me. It's been more than a week. Greetings from France.

[stellaconcepts]

maybe they dont ship to france?

how did you contact them? email?

[slobomotion]

"Contacts" on their website.

[linux23dragon2008]

higher highs and higher lows is all good to me.

[tantoi10man]

It's still all gravy for people who got in under 1,000! :)

[bnash2002]

i may pick at it here but with a tiny position. it might take a couple entries to nail this one down.

[stellaconcepts]

yea averging in is the way to go on this one - there is no reason why it still cant drop another $50-60 - so be cautious - however i think this area is where she'll bottom out... silver as welll.... im long both

[edmack4me]

There is a whole new class of sheeple who now follow gold and silver instead of 'Bold and Beautiful' or 'Days of Our Lives' with their maybe oz of gold and few oz of silver and crap in their pants when their metal is down a few $ and look to gurus for explanations to calm them down. What little they hold won't stop them from getting fleeced they would be better off investing in groceries and being fattened up as 'roast lamb' on the elites dinner table.

[edmack4me]

@edmack4me If you don't have brains and street smarts then gold and silver is not a substitute.

[stellaconcepts]

u talking to yourself?

[edmack4me]

Quite possibly. Despite the efforts of so many, including yourself, to stir the consciousness of the mass sheeple some changed pens but remain sheeple. If they ain't got it they ain't going to get it anytime before the next fleecing.

[SamuraiCommando]

Its all paper traders. None of these moves are physical. Look at the prices at Bulliondirect. people still want 1200+ for Pandas, Maples, Buffalos....

[karmiclaugh2]

I heard it was the Dubai credit crisis that created the decline in gold.

Is that all settled now?

[edmack4me]

@karmiclaugh2 If you're looking for re-assurance you should stock up on groceries instead because you don't get why, gold.

[morningmayan]

Good info thanks

[thegreenfamilybooks]

looks like a 50% retracement.....

[JOConnor100]

Gold is going to $1080, and could even go down to $975. The PPT is not done scaring the newbies. After that it will make new highs.

[stellaconcepts]

1080 possible - under 1000 tho - unlikley given the government buying that took place over 1000... there will be more of that taking place the closer it gets to 1000

[SamuraiCommando]

so true. Paper gold taking profits. And then when or if it gets back to 1080ish your going to see another India purchase or China. Then we are gonig to have physical problems. You ever use bullion direct John?

[marcopiero]

Good video Stella. I agree on gold moving higher but can't really put my money on the table right now. Actually I am afraid we might be getting what Bernanke promised last week (support to a strong dollar). Gold is all dependant on what the dollar does. One or the other must go down and right now the USD seems ripe for a little short term rally (or the mother of all BS dollar rallies.lol). Longer term gold is GOLD as they say. For how much I love gold I have to short it now or stay out and wait.

[CaptainTripsz]

I hope it keeps going down for the next 2 weeks for when I get my Christmas bonus.

[linux23dragon2008]

It Might trade sideways for two weeks but possibly will be going up slowly until it takes off again.

Silver and Gold Must confirm a good bounce off first

[rayomans]

It can not be allowed to stay above 1000, because otherwise it can skyrocket. So it's either going much lower, or going dramatically higher very rapidly.

I recommend not trading the market around here. If you're bullish simply buy the physical for long term, otherwise you're more likely to make money here shorting the bounces. I expect the real test to come in January. By the end of January it's either going to be far higher or well below 1k.

[bradleytank666]

Thanks for the update john!

[investornator]

Aww forgot to rate,,,,

5 stars John well done

Thanx for keeping us all so well informed

[rentonsentinel]

BTW, the G/S ratio has widened almost to 65 from 63 in the last few days. We'd love to hear your thoughts on silver at this point... Cheers...

[stellaconcepts]

sure - ill do an update on silver... but i took a long today on silver as well - so i expect a nice bounce around here

[sphindog]

I'm waiting for the commitment of traders report from the CFTC tomorrow...should show a heck of an increase in the shorts on silver for sure...probably for gold as well. I think that would indicate that this plunge in the price is compliments of our friends at JP Morgan! ;) On the bright side, it wouldn't take much right now to push this present shortage to an all out crisis. I'd love to buy right now, but I think we're going lower.

[rentonsentinel]

I'm with you John... I have enough PM that upside is nice, yet I'm not in dire straights looking to sell, so I will continue to add on the dips. 1070 would be too good to be true, because we know that central banks are willing to buy at much higher levels.

[Shameonfed]

Just read Bob Chapman's piece on the International Forecaster. He says that the correction is man made. Any thoughts on his views?

[stellaconcepts]

the prob with bob is that he is convinced every down day is government selling - which simply cannot be true.

[Shameonfed]

Is the precious metals market lead by emotions in the same way as the stock market is at times? I'm still trying to understand it and appreciate your insight. Thanks.

[CASTILLOM1]

Of course the "correction" is man made, mints around the world have ceased production of bullion coins due to unprecedented demand. Short supply plus high demand can only lead to rise in metals yet we are seeing drops?? Very easy to manipulate metals these days. Central banks simply have to print more paper silver/gold in the form of ETF's and futures. Provides an abundant supply of paper silver..."fake silver".

[Shameonfed]

I believe this is what Bob Chapman is stating. Says that once the call comes in on the paper, they'll be unable to deliver because of the shortage, which will send the price sky high...if I understand it correctly.

[morningmayan]

Good comment!

[CASTILLOM1]

Yes sir exactly right. This "correction" can last a long time, John here thinks its bottomed out but I seriously doubt it. Cant say for sure but something tells me plummeting metals price is a way to control...

[Shameonfed]

I think the White Shoe boys are trying to control the downward slide of the dollar and using the metals market to do so.

[mallamoozoo]

How does that work? How do they do it?

[asperin]

John, you should consider adding more tags if you want your videos to show up more frequently in people's search and in the related video section.

Peace

[whiskerchild]

Thanks John

[fezz569]

Thanks John, always good info, cheers

[vinny1010]

it's not a correction. Investors in Greece, when the bad news was heard re its economy, had to get dollars which is why it went up nearly 2% that day and Gold and silver plummetted so I would not say it was a correction per se

[magbigblock]

I don't know what you said to be fact, but something happened for sure. I don't think silver has fallen so hard, so fast this year. If Greece "had" to get dollars, I feel as bad for them as what's coming to the U.S. later.

[vinny1010]

Investors had to cover and they ran for dollars as Greece got degraded late last week

[stellaconcepts]

Time will tell. That maybe added to the violence of the correction thats for sure.

[quiddity65]

Made a buy at 17.29

Hi ho silver!!!!!

[lindabebe835]

Don't loose your faith in Gold. Stay in it for the long term, you won't be dissapointed. Dollar will collapse and peole will look for a commodity to invest in, this is GOLD and Silver

[thirdcoastguy]

Suggest you people check out jberni1 on his YouTube site. He was the person I picked up the Greece, Ireland, and Spain defaults information. He's a great resource and provides a European's perspective on the world's economies. A really good person too.

[stellaconcepts]

yeap agree... i love his vids

[TheFlex21]

I wonder if the IMF or someone just sold a bunch to suppress the price

[ford7777777]

Gold fell straight after last Fridays dodgy US unemployment figures came out. Dollar got stronger in anticipation of higher US interest rates. I believe Benny has said that thats not going to happen any time soon so it will be BAU by the end of the week, gold up, dollar down and Dow flat

[magbigblock]

Unemployment figures...what was it 11,000 jobs. No way..We will see in first quarter 2010 after an abismal holiday season. Hell, even McDonalds is down right now. The lying never ceases to amaze me.

[Nuanceqwest]

The Buck will be back in a few days to melt commodities again.

[Airave]

Works, atm, well for me.

Just traded out my last $s

at decent € prices.

Don't worry about Gold,

it will come back up.

Strange things percolate.

Let's see what happens.

All the Best.

[rocksiphone]

Gold going down does not surprise me. We have no control of our financial system, the Bankers control it all. We are just the pawn in their game

[ray12970]

Big Banks are covering their massive short positions. Don't worry everybody. Hopefully Gary Gensler will be a man of his word and put a limit on the derivitives soon !!!!! This will put the screws to anyone holding ETF'S and silver and gold will go up alot ! Thanks John

[sarahsgift1]

Just received the apmex shipment. John you were right about the delay.Everything worked out great!

[thirdcoastguy]

APMEX has been excellent so far for me.

[magbigblock]

Me too.

[SamuraiCommando]

How long has Apmex taking for delivery now? for silver and gold

[AfterTheFox75]

It really depends on your form of payment, how long it takes for you to get it to them and how much you're ordering. I've heard as short as a day or two to a few weeks (2 1/2-3).

[CuriousTOknow1]

it's not about the usd, look at the yield curve steepening from here..

[thirdcoastguy]

Greece defaulting soon, Ireland and Spain to follow. Fiat currencies in trouble.

[undekegamisou]

how do you know greece defaulting soon...thanks?

[stellaconcepts]

bloomberg (among others) cover the story

[1984IcameandIstayed]

What have you heard about Japan defaulting?

[CuriousTOknow1]

QE has paused, support for the long end is abating, steepening may increase inflation expectations, treasury curve unwinding may support PMs irrespective of the USD(euro suffers from PIGS). QE/currencies diluting may come back when long end reaches harmful levels. Govs defaulting does not impose 'fiat' currencies in trouble, sentence does not make sense.

[CuriousTOknow1]

on the contrary, usd is strengthening

[CuriousTOknow1]

check:

v=nRNec49qaAE

[jamaulbrown]

the level you point out is a 'potential level' of support - but only that.. There is no evidence of a bounce yet.

If you buy now, where is your stop? At what point would you puke out your holdings?

I trade the GLD - my concerns getting long now are:

1) The heavy volume on the sell off (highest volume to date);

2) the heavy buying of the US dollar (symbol UUP) and

3) Both Long Gold, Short Dollar are very crowded trades. Smart money is already out of this trade (for now) ..

[stellaconcepts]

its up $16 from the lows made. given that, the boll bands, the sma's, the previous resistance here... its a good chance. my stop is 1096.

Also took a long on silver here - 1741 - with a $1 stop loss.

Re your concerns, the sell volume is decreasing every day.

Dollar back under 76 on the index.

Yes, it might be a few days of consolidation. The smart money is still IN the trade in my opinion (i.e. central banks)

[GovWillKillU]

looks like a more amplified version of that 1040 level, then the run up to 1200.

[GovWillKillU]

funny thing about gold. its easier to buy when its going up than when its tanking.

tough week. tough, tough week. i didnt sell btw; because i dont know where i would put the dollars. treasuries at 0%? stocks at inflated prices, now running up with a stronger dollar (eek)? real estate?

no thanks. to rebuy into a physical position after selling just doesnt make sense unless we see xxx per ounce.

[stellaconcepts]

agree - i was thinking today - where else, apart from gold and silver, do i feel comfortable investing.

the only answer I could possibly find was OIL. but my wife wouldnt appreciate 1000 barrels of brent crude in the backyard ;)

[ShillBasher]

Lol

[AfterTheFox75]

Agriculture and ENERGY. I have a very strong suspicion we're going to see many more Enron schemes in the future. Governments and corporations run amuck on mad powerplays will be the next stage of the game.

[SamuraiCommando]

There is an Enron in every state. I said that before on a comment recently with VisionVictory.

[AfterTheFox75]

Oh agreed. I can easily see that too. I just think it'll grow exponentially as the economy worsens and gov't and corporations become more incestuous. At that time they'll use the excuse of scarcity and rationing as a front to fleece the public -and naturally the investigative/watch dog areas of gov't which are supposed to protect us will be in on the game. I think Davinci's newest vid shows us the road on this one. It's starting already, en mass.

[GuildF40]

she sounds hard work mate.

Have you tried explaining it better lol

Agree where else would you sleep easy in today's world other than physical metal etc...

[investornator]

Agreed,only place to put your money is in comodities.......

[GovWillKillU]

ill be glad when this 2 week copenhagen thing gets over with

[fal2grace]

Thanks much John.

[crabbydogtrix]

thanks John- its been a ripper of a few days. Hope you're support line holds true.

[AfterTheFox75]

Hey Charlie! ;-)

Yeah, I was thinking about this today...wondering how the Beijing put comes into play here...how it's all working out and what chips are falling where. -Beats me, I'm just a dope with a mound of silver and a few ounces of gold to her name. lol

[skybirdbird]

tkx for the report...........

[AfterTheFox75]

Thanks John. I just see it as a great time to buy -on the way down or rock bottom. Personally, I'm strictly in silver mode from now on. :)

[stellaconcepts]

good girl.

all that glitters is not gold ;)

[AfterTheFox75]

-Though I have to admit, those clearance prices on gold Lunar series coins at Apmex was mighty mighty tempting.... :-D

[Raycheetah]

@AfterTheFox7

Well, if you just HAVE to have some fancy Aussie bullion in your stack, getting it on sale is the best way to do it! I'd be tempted to buy those Kooks I saw on APMEX ($US 20 and change), if I didn't prefer to maximize my silver by going cheap. =^[.]^=

[AfterTheFox75]

Oh, make no mistake Ray... I sure as hell bought some of those, yesterday. lol :-D

Yeah, thanks for the message too! I've been watching those for a while too - and I'm always checking out the clearance "rack" too (I am a woman after all, it comes naturally).

Good stackin to ya sir. ;-)

[drutter]

Sounds good!! Thank you John.

[NicosMind]

Well Peter Schiff has been saying corrections are the steepest in bull markets and i trust his words.

Also with as much gold as central banks around the world have been buying around the world i cant see it sitting low for long. Not to mention the monetary thinking thats been going on.

[stellaconcepts]

thats probably true Nicos... just looks scary ;-)

[NicosMind]

Yeah i also heard on the news today that the British FTSE has bounced back 53%!!! Not sure how well other markets have been doing but if you look at the Dow during the 30s it regularly had pull backs between 40-50% before correcting downwards again. So if anything that makes this gold pull back look like a great buying opportunity.

Maybe scary for the gold we hold but just think of the gold we can buy :)

[galikazoid]

thanks

[doobsta]

welcomes