Gold and Silver Break Key Resistance Levels

Gold and Silver Break Key Resistance Levels

www.midasletter.com

Silver prices were climbing 31 cents to $30.85, having broken through their $30.50 resistance area

Inflation data was leading the precious metals higher Tuesday. The U.K. reported that January’s Consumer Price Index rose 4% from 3.7% in December. China reported an inflation reading of 4.9%, higher that 4.6% for December

Gold and silver thrive in negative real interest rate environments,as the local currency is worth less and the precious metals become a more appealing place to store your wealth

(visit the link for the full news article)


Related News Links:
wallstreetpit.com
community.nasdaq.com

Related AboveTopSecret.com Discussion Threads:
Is JP Morgan Shifting Its Silver And Gold Shorts To Non-US Domiciled, And Thus Unregulatable, Banks?
Tips on buying Gold or Silver?

Well if you believe inflation will continue to rise, better get your silver now while it's 'cheap' at 30$ an ounce.

The dollar is getting weaker (from the story), and will only increase the price of silver in the US.

I'm curious what you all think about this part

Hedge funds run by John Paulson and George Soros are always closely watched. Paulson is still the largest holder of the GLD with 31.5 million shares, while Soros is the seventh with 4.7 million shares. The GLD is the biggest position in both of their portfolios.

These elite-types having so much invested in gold. Is that good or bad for gold, and good or bad for small investors like those here on ATS (assuming)?

Either way, I think if you have gold and silver right now you are happy to see gold/silver rising again after a month of lowered and stagnant prices.

www.midasletter.com
(visit the link for the full news article)

With Paulson and Soros holding so much "paper" gold, they have the power to destroy if they want to. How? Either cashing in immediately for physical, revealing how "paper" gold is oversold (some say as much as 100 paper ounces for every ounce of actual physical being held) and utterly crashing the market; or by keeping "paper" gold propped up, allowing those who do want to cash for physical to do so, without revealing the rot beneath the system and allowing for the scam to continue and worsen.

reply to post by BenIndaSun


Forget gold and silver, i stock up on real world items, food cigarettes, alcohol, land.
These things i can barter for any currency.
Gold and silver will always be manipulated by the PTB in their favor, until the next manipulation where they flood or starve the market getting them the most bang for their buck.
My goods cost the same every time, just time invested.
And i can use all of them to keep my quality of life up.

reply to post by g146541


True. You can't eat gold or smoke silver. And when anarchy sets in I'm doubtful that people will be very interested in using a precious metal as a form of tender.

Originally posted by g146541
reply to post by BenIndaSun

 

Forget gold and silver, i stock up on real world items, food cigarettes, alcohol, land.
These things i can barter for any currency.
Gold and silver will always be manipulated by the PTB in their favor, until the next manipulation where they flood or starve the market getting them the most bang for their buck.
My goods cost the same every time, just time invested.
And i can use all of them to keep my quality of life up.

Food - taxed and controlled by the government (government now has powers to seize your food stockpiles)
Land - heavily taxed and controlled by the government (government has long had powers to seize your land)
Cigarettes and alchohol - Punishingly taxed and controlled by the government

EDIT - I forgot my point here. It is much easier to "hide" your PMs from prying eyes. And if you need to move out quick and dirty, a pocket full for metal is easier to pack on the go than a month's worth of food and water.

reply to post by g146541

It's good that you've had the sense to stockpile practical goods. I agree that having some food set aside is smart. But not everyone owns their own home, can afford land, or can move out to the country when they are working a job to survive. Some of us may have to bug out with friends depending on what happens in our areas. I can only carry so much food in a backpack. But, if I have to leave my area in a hurry, and if my car breaks down, or if I get stuck traveling on foot for some other reason, gold (and silver) are compact and relatively light for their value. Things will calm down eventually and our bank cards may never be useful again. Yes, seeds and food are better in the short term, but metal is better than plastic.

Originally posted by this_is_who_we_are
reply to post by g146541

 

True. You can't eat gold or smoke silver. And when anarchy sets in I'm doubtful that people will be very interested in using a precious metal as a form of tender.

Always a bad comparison. First, look at localized SHTF scenarios. When Argentina bit the turd, those who had PMs were able to buy their way out of the madness. Local currencies were null and void and there wasn't enough barterable goods to pay the costs.

PMs, by their worldwide acceptance and commonly accepted value, allow for easily stored and transported wealth necessary for the bigger ticket items that will always be needed 6-12 months into a disaster scenario.

To reply to several and none in general,
Yes lands are taxed and other items an fall under controlled substances, I am part of a larger society of likeminded individuals and if tyranny reaches my doorstep then..... i guess all of the gold and silver will matter not.
This being said i do not plan on "buying" my way out of anything. i was born here and here i will die.
I can buy all i need with my and the sweat or force of my friends. there is power in numbers.
I should be able to stumble through any disaster and if not, hey it was one helluvaride.

reply to post by g146541


I agree with you, but I think if one is able they should invest in both. Gold and silver seem safe and even good when the economy is 'pretty bad', but it would be a bad option to invest all of your extra money in gold/silver in case the economy became really bad or chaotic.

When TSHTF, food, water and weapons plus things you like (cigarettes, alcohol...etc) seem more practical than gold and silver. But looking at gold and silver over the last couple of years as the economy has worsened and inflation has risen, prices of gold and silver are doing really good.

Originally posted by g146541
To reply to several and none in general,
Yes lands are taxed and other items an fall under controlled substances, I am part of a larger society of likeminded individuals and if tyranny reaches my doorstep then..... i guess all of the gold and silver will matter not.
This being said i do not plan on "buying" my way out of anything. i was born here and here i will die.
I can buy all i need with my and the sweat or force of my friends. there is power in numbers.
I should be able to stumble through any disaster and if not, hey it was one helluvaride.

I, on the other hand, come from a long line of refugees who got here (Texas) by fleeing tyrants and market forces elsewhere. They had to buy their way across closed borders. Precious metals are universal, and accepted anywhere that barter breaks out.

I've owned gold and silver on and off since the mid 1980's. I've sold it to raise capital in family emergencies, and never once took a loss. I've also used it in barter, so I'm quite familiar with the ins and outs of the market. It is only one tool in my toolbox. But it's definitely there.

I cannot eat toilet paper, either. But I still have an emergency supply at my house, just in case.

I wish I would've started purchasing Silver when it was under 10 bucks.

Yeah, don't buy gold and silver then you can complain about the rich getting richer (those who have G@S) and the poor getting poorer (those who did not have the foresight to buy G@S)

How long do you suppose your 'supplies' are going to last when you cannot even afford to invest in a little junk silver? How much of your 'supplies' can you purchase with 20-30 bucks?

reply to post by Ronin22


I started when it was $4

But then, a pack of smokes was 65 cents. And there was a "cent symbol" on my typewriter.

And children could by cigarettes. It's a wonder I'm not already dead!

Originally posted by antar
Yeah, don't buy gold and silver then you can complain about the rich getting richer (those who have G@S) and the poor getting poorer (those who did not have the foresight to buy G@S)

How long do you suppose your 'supplies' are going to last when you cannot even afford to invest in a little junk silver? How much of your 'supplies' can you purchase with 20-30 bucks?

And you can see that process accellerate in a huge way right now. As the economy has worsened, and metals have risen, those with liquid capital are making a killing buying up all the scrap (and family heirloom) gold silver they can from the desparate (and in some cases misguided) common folk, for well under spot prices. As the average man parts with his precious metals, and the organized and motivated wealthy buy it all up, the gulf between the rich and the poor continues to widen.

reply to post by dr_strangecraft


There is merit to what you say and i cannot / will not deny truth.
However your situation had a terrible flaw, the communication breakdown.
In my circle anything that is not business as usual would be seen as a problem.
We own the internet so we can communicate easily.
The web was not nearly as potent a weapon 20 years ago as it is now.
We are one, we are strong. The more you hold us down the more we press on.
The best thing to do is make friends, be a good friend and people will see your merit.
If you go down then they will know something is wrong.
If i end up just as a cog on the wheel toward true Freedom, i have done my part.
And i'm okay with that.

(edit)
You say $4 an ounce for silver, why that would make you...... that was a bit ago, best i recollect was bout 6-7ish.
But that is when i started to pay attention anyway.

Originally posted by BenIndaSun
reply to post by g146541

 

I agree with you, but I think if one is able they should invest in both. Gold and silver seem safe and even good when the economy is 'pretty bad', but it would be a bad option to invest all of your extra money in gold/silver in case the economy became really bad or chaotic.

When TSHTF, food, water and weapons plus things you like (cigarettes, alcohol...etc) seem more practical than gold and silver. But looking at gold and silver over the last couple of years as the economy has worsened and inflation has risen, prices of gold and silver are doing really good.

TSHTF Investing? Please, It's not going to happen. If you live in the U.S. you live in a first world economy run by big business. A total economic collapse does not benefit big business. If the economy is controlled by TPTB then I ask this question-"How does an economic collapse benefit them"? A short term crisis may be of benefit but not complete collapse-You can't control that. The army won't show up to work if they don't get paid. For a short term crisis things like Food, Water and TP are better options.

As for gold's rise, this has happened before. If the economy stabilizes Gold will go down. If the interest rates go up gold will go down. If you know how to time the market then you will be fine. Most people don't have that ability though. I think silver is better because there are industrial applications for it. It is also cheaper. Gold is too expensive for the average investor. Watch out for Gold hype in the MSM. When you see you will know gold is about to bust. The dumb investor buys off of hype. It was the same with Real Estate, the same with tech stocks. Most of you would be better off buying land. Gold is simply a commodity. People who claim it has some kind of intrinsic value are wrong. The value is only what people are willing pay/trade for it. Hell, copper will probably be a better investment soon. That's becoming even more rare than gold.

It should also be noted Midas makes money off selling gold. There is a conflict of interest there. I will admit I buy silver. I have a strike price I will sell at.

reply to post by larphillips


Ahh it is so true, desperate times call for desperate action. Even antar has had to resort a couple of times to selling an ounce or tow to get by.

Antar has been in it for the long run, not short term but it is really hard when all else fails and there are important purchases, not to spend some of that money when I bought most before 10 and it has risen to at least double.

For those who have lost homes and lifestyles, it could be a fall back rather than fail safe.

Want to cheaply amass and hoard semi-precious metals, with absolutely zero risk? According to coinflation.com (they calculate the going rate of metals vs. the metals within US and Canadian coins) right now, all US nickels are worth about 7.3 cents each in metal and US pennies from 1909 - 1982 are worth about 3 cents each.

www.coinflation.com...

Heck, you can go to the bank and pick up rolls and rolls of them at face value. They won't be worth less than face value (discounting inflation), but they may have appreciatable value. Currently, it is illegal to export or melt down nickels and pennies in the US, but if and when these coins are pulled from circulation due to their overwhelming cost to produce, that law may be changed. There is precident for this when US dimes, quarters and half-dollars no longer contained 90% silver (starting in 1965.) Also, in 1982, the US penny went from 95% copper to 97.5% zinc. The talk is that nickels and pennies, if still pressed, will be made of steel or plastic.

reply to post by larphillips


Good point, my father years back bought a load of cannuck maples.
These are 5 dollar face value unlike the US 1 dollar liberties.
But in a worst case scenario at the very least they cannot be less than $5 in value.
Where a US liberty could drop to only $1 in value.