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Precious Metals Double Bottom?
Since I do not have a crystal ball, it is remarkably difficult to answer that question. I could answer the above question with a yes or a no…..
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Since I do not have a crystal ball, it is remarkably difficult to answer that question. I could answer the above question with a yes or a no…..
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According to recent BCA Research, it is difficult to see precious metals accelerating on the downside in the medium term, despite Fed’s announcement of tapering……
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Tiho Brkan: …my opinion continues to be one of caution in the short term and extreme optimism in the long term. Let me explain…
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For awhile now, I have maintained that Gold and Silver could make a lower low and create a fabulous buying opportunity (and possibly a final low)….
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CEF is trading at a 7% discount to NAV….
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The chart below focuses on various metal prices and hedge fund positioning. Gold, majority of the time is a precious metal with little industrial use. Silver is a hybrid, with industrial use as well as precious nature. Interestingly enough, throughout history Silver has been associated with the use of currency even more then Gold. Finally, … Continue reading
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Notes and commentary from BCA Research, Goldman Sachs, Frank Holmes & Tiho Brkan…
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Positioning currently stands at 76,600 net long contracts on Gold and 18,200 net long contracts on Silver…
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Chart 1: Gold is now down almost 28% over the last 12 months Source: Short Side of Long According to at least one technical indicator, Gold is now most oversold since 1985. The indicator I am tracking here is the simple yearly rolling performance, also known as 52 week rate of change. Essentially we are … Continue reading
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Here are some interesting breadth charts I am looking at right now, with some quick notes…..
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In the past year, holdings in GLD have declined from about 1350 tonnes to barely over 900 tonnes. This is the lowest since Q1 2009 when the Gold price was about $900.
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If you have been a regular follower of this blog, you would have noticed that I am extremely optimistic about the long term prospects of Precious Metals. I continue to buy during this bear market and try to time as many major intermediate lows as possible. However, simultaneously, I have also stated on many occasions during … Continue reading