Here is an important note for frustrated gold and silver bulls.
July 18 (King World News) – This was from Bill Fleckenstein (yesterday) regarding the action in gold and the miners: I must admit I was pretty surprised for most of the session, with the metals 1% lower, to see most gold stocks on my screen slightly higher. Ordinarily this would be a sign that the gold market was ready to turn almost immediately, but as we all know, the miners have behaved better than gold on most days for the last couple of months, yet gold has fallen $70 or so basically straight down…
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We Seem To Have a Bad Connection
This is one of the more unusual bits of disconnects (positive from the standpoint of a metals bull) that I can recall. Either the gold market is going to have to rally or one would think that the miners would potentially be more vulnerable, but thus far they refuse to buckle.
Included below is one question and answer from the Q&A’s with Bill Fleckenstein.
Frustrated Gold & Silver Bull
Question: Do you have anything you can possibly say to us beleaguered gold and silver owners? Years of this going nowhere and mostly down and it seems inexplicable that this would be the case.
Answer from Fleck: “I could say any number of things, but what I suspect you are really asking is “when will it stop falling and start rising,” and I am sorry, but I can’t say… Could be any day now, or might take some more time. Often times, markets do very weird things that just defy logic. This happens all the time, so it isn’t unique to gold… Gold is just trickier because there aren’t the same level of “track-able” fundamentals as there are with businesses.”
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