On the heels of continued wild trading in global markets, gold is preparing for a strong rise, bullion bank troubles, plus a look at silver.
Bullion Bank Troubles
February 5 (King World News) – Alasdair Macleod: “Looking at the progression of Open Interest on Comex, it looks like the gold price is being managed lower. This is required because I believe a number of bullion banks were in difficulties when gold threatened to go above $1600. Once this is sorted, gold should rise strongly.”…
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Silver
Graddhy out of Sweden: “Yesterday we got a hammer candle at fib 61.8 while tagging EMA150 (=EMA30 weekly). Seems to be in a very stretched DC (Daily Cycle.) Looking at many miners, we do need to turn here, and I think we will. (See below).
Look For Silver Mining Stocks To Turn Higher
BIG PICTURE: Silver Stocks May Turn Higher
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Cashin On Gold
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