Best of the Week
Most Popular
1. Investing in a Bubble Mania Stock Market Trending Towards Financial Crisis 2.0 CRASH! - 9th Sep 21
2.Tech Stocks Bubble Valuations 2000 vs 2021 - 25th Sep 21
3.Stock Market FOMO Going into Crash Season - 8th Oct 21
4.Stock Market FOMO Hits September Brick Wall - Evergrande China's Lehman's Moment - 22nd Sep 21
5.Crypto Bubble BURSTS! BTC, ETH, XRP CRASH! NiceHash Seizes Funds on Account Halting ALL Withdrawals! - 19th May 21
6.How to Protect Your Self From a Stock Market CRASH / Bear Market? - 14th Oct 21
7.AI Stocks Portfolio Buying and Selling Levels Going Into Market Correction - 11th Oct 21
8.Why Silver Price Could Crash by 20%! - 5th Oct 21
9.Powell: Inflation Might Not Be Transitory, After All - 3rd Oct 21
10.Global Stock Markets Topped 60 Days Before the US Stocks Peaked - 23rd Sep 21
Last 7 days
Quantum AI Stocks Investing Priority - 26th Jan 22
Is Everyone Going To Be Right About This Stocks Bear Market?- 26th Jan 22
Stock Market Glass Half Empty or Half Full? - 26th Jan 22
Stock Market Quoted As Saying 'The Reports Of My Demise Are Greatly Exaggerated' - 26th Jan 22
The Synthetic Dividend Option To Generate Profits - 26th Jan 22
The Beginner's Guide to Credit Repair - 26th Jan 22
AI Tech Stocks State Going into the CRASH and Capitalising on the Metaverse - 25th Jan 22
Stock Market Relief Rally, Maybe? - 25th Jan 22
Why Gold’s Latest Rally Is Nothing to Get Excited About - 25th Jan 22
Gold Slides and Rebounds in 2022 - 25th Jan 22
Gold; a stellar picture - 25th Jan 22
CATHY WOOD ARK GARBAGE ARK Funds Heading for 90% STOCK CRASH! - 22nd Jan 22
Gold Is the Belle of the Ball. Will Its Dance Turn Bearish? - 22nd Jan 22
Best Neighborhoods to Buy Real Estate in San Diego - 22nd Jan 22
Stock Market January PANIC AI Tech Stocks Buying Opp - Trend Forecast 2022 - 21st Jan 21
How to Get Rich in the MetaVerse - 20th Jan 21
Should you Buy Payment Disruptor Stocks in 2022? - 20th Jan 21
2022 the Year of Smart devices, Electric Vehicles, and AI Startups - 20th Jan 21
Oil Markets More Animated by Geopolitics, Supply, and Demand - 20th Jan 21
Fake It Till You Make It: Will Silver’s Motto Work on Gold? - 19th Jan 22
Crude Oil Smashing Stocks - 19th Jan 22
US Stagflation: The Global Risk of 2022 - 19th Jan 22
Stock Market Trend Forecast Early 2022 - Tech Growth Value Stocks Rotation - 18th Jan 22
Stock Market Sentiment Speaks: Are We Setting Up For A 'Mini-Crash'? - 18th Jan 22
Mobile Sports Betting is on a rise: Here’s why - 18th Jan 22
Exponential AI Stocks Mega-trend - 17th Jan 22
THE NEXT BITCOIN - 17th Jan 22
Gold Price Predictions for 2022 - 17th Jan 22
How Do Debt Relief Services Work To Reduce The Amount You Owe? - 17th Jan 22
RIVIAN IPO Illustrates We are in the Mother of all Stock Market Bubbles - 16th Jan 22
All Market Eyes on Copper - 16th Jan 22
The US Dollar Had a Slip-Up, but Gold Turned a Blind Eye to It - 16th Jan 22
A Stock Market Top for the Ages - 16th Jan 22
FREETRADE - Stock Investing Platform, the Good, Bad and Ugly Review, Free Shares, Cancelled Orders - 15th Jan 22
WD 14tb My Book External Drive Unboxing, Testing and Benchmark Performance Amazon Buy Review - 15th Jan 22
Toyland Ferris Wheel Birthday Fun at Gulliver's Rother Valley UK Theme Park 2022 - 15th Jan 22
What You Should Know About a TailoredPay High Risk Merchant Account - 15th Jan 22

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Gold and Silver Prices On Fire!

Commodities / Gold and Silver 2012 Sep 14, 2012 - 03:49 AM GMT

By: GoldSilverWorlds


Best Financial Markets Analysis ArticleWhat a day for gold and silver … September 13th 2012 could become a historic day for the precious metals.

At the center of the stage today was the US Fed meeting and the announcement of their decisions by Mr Bernanke at 14h15 EST.  Here is what came out of it in a nuthsell:

  • A new round of quantitative easing was decided, with a key objective to decrease the unemployment rate in the US.  Mr Bernanke said that “We’re looking for ongoing, sustained improvement in the labor market”. He calls the current unemployment rate of approximately 8% a “grave concern.”
  • The monetary stimulus includes 40 billion US dollar per month of bond buying; that amount could be extended by an additional 40 billion per month if required to meet the objectives.
  • Zero interest rate policy will be extended till 2015.

It seems like “QE to infinity”, a term that was introduced by the much respected Jim Sinclair, is for real. Jim Sinclair whose nickname is “Mr Gold”, has been forecasting for a long long time that $ 1764 was a key pivot point in the long term bull market, marking the start of the third and final phase. In the last phase of a bull market, prices tend to accelerate to the upside. That’s where  incredible gold prices of $5000 or $10000, forecasted by several experts quite some time ago already, could eventually be reached.

Now we have seen gold touching the magic $ 1764 a couple of times before. But here is what Jim Sinclair had to say on his website today. It’s maybe the shortest but potentially the most powerful blog post ever: “It looks like Gold hit $1764 for the 3rd time. Gold is usually 3 hits and out.”

Today’s gold price chart doesn’t need too much explanation. The surge in the price is phenomenal and was obviously the result of Mr Bernanke’s speech. Look how quiet the markets have been today and the past few days, in anticipation of the speech of the Fed.

Now look at what’s happening on the weekly gold price chart. Gold has now clearly broken out of the descending pattern of the past 12 months. What’s more, the price is holding above the key moving averages. On the weekly chart, a golden cross over is nearing as well. Volume is simply decent, not extremely strong. Momentum is clearly there on the weekly chart.

Silver has blast through all resistance levels and moving averages in just two weeks. The positive note here is that silver is leading gold higher, which is a sign of strength. The daily chart start looking overbought though. There is a very strong resistance level at $ 35.50, so probably silver will need some energy to overcome that point. Thereafter, the metal should be able to surge fast to $ 40.

In closing, we should mention that the gold and silver stocks are doing very well. The outlook for the shares is extremely good if bullion prices will continue their surge. We should not forget that most of those mining companies have been valued by the markets with a gold price of approximately $ 1200. Gold stocks are undervalued; their value will become clear as soon as the rise of bullion will be here to stay and clear for everyone.

Looking to buy gold? Start here with one of our recommended gold bullion partners

Source -

© 2012 Copyright goldsilverworlds - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

© 2005-2019 - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.

Post Comment

Only logged in users are allowed to post comments. Register/ Log in