Gold and silver are surging ahead of Friday’s Non-Farm Payroll Report, despite heavy commercial selling. Shorts worry as the long awaited turn picks up momentum.
John Embry had this to say yesterday about the current COT setup:
“However, it feels different this time because despite the best efforts of the bullion banks to flush the gold market lower, the gold price keeps coming back. And as I said, in comparison to the past 4 1/2 years, where the bullion banks appeared to be in complete control, something seems to have changed.”
Yesterday, legendary Louise Yamada turned bullish on gold. Here is just a portion of the note Yamada sent KWN, along with one of her 3 charts:
“The daily (above) and weekly momentum models have moved to new one-year highs (lower arrows), offering both short and intermediate-term Buy signals.”
Louise Yamada’s technicals flashed a “buy” signal yesterday:
“Additionally, the monthly momentum model, after being flat for over a year, has just offered a Buy signal, reversing the Sell signal from early 2012.”
This reversed a sell signal that she had issued on gold in 2012, and today the market seems to agree with her call to buy gold…
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And Bill Fleckenstein addressed the crowded small spec trade in gold:
“You have to look at the whole picture and can’t try to be too cute… I think people are still worried about that the price is still headed much lower and are afraid of their shadow.
I think the price is headed much higher and it will take much more lopsided sentiment,
etc. to get me to really trade anything.”
Ronald Stoeferle summed the situation up as follows:
“Gold has made a bottom. A new bull market is in the making.”
As KWN noted earlier in the week: If commodities have finally bottomed, this will mean inflationary pressures will ratchet higher in 2016 and this will be bullish for gold and silver in both the intermediate- and long-term. This may signal a very good year for both metals in 2016, despite the noise of the pullbacks that will have to be endured along the way.
***KWN has now released the Stephen Leeb KWN audio interview where he discusses the gold and silver, China, Russia, what surprises to expect in 2016, and much, and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
***ALSO RELEASED: 50-Year Market Veteran Discusses The War In Gold And A Historic Opportunity In Silver CLICK HERE.
***KWN has also now released the Dr. Paul Craig Roberts KWN audio interview where he discusses the gold and silver market in greater detail. Dr. Roberts also discusses the greatest threat facing the world, systemic collapse, major markets, and much more, and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
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