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5 responses to “Gold and Silver Aren’t Getting Stronger, Report 29 May, 2016”

  1. I’m on record here as selling at $1303. Big deal – i’m not running the website. But we heard no such declaration, no specific entry point, from Monetary Metals. So how can Monetary Metals take credit?

    It’s not enough to say the fundamental price is below ((or above) the current dollar price. That’s always the case. To take credit for a trade — or for saving people money — you must make that trade or specific recommendation, not just talk theory after the fact.

  2. @bbartlow

    You’re correct: you are not running the “website”; Mr. Weiner is.

    Where in the above comments does the author make any statement about a trading call or take credit for such? Frankly, I visit this blog for insight and not for trading recommendations from either its author or people from the peanut gallery such as yourself. Just a suggestion: if you have good input re gold or silver and are a hotshot trader as well, how about you starting your own blog then informing us so we can visit and check it out?

  3. There are some key people I pay attention to regarding economic cycles and price movements. Martin Armstrong’s cycle work is suggesting a washout looming in the gold market. Tom McClellan is also forecasting a gold price dump sometime between August of this year and sometime early next year. Keith Weiner is asserting that the fundamental price of gold is under its current market price (and the pendulum always swings too far one way before swinging back).

    The ideas I’ve posted before in these comments about gold dumping in response to bank liquidity tightening and overnight repo rate spikes may be occurring again, this time in Saudi Arabia as they try to maintain their dollar peg. It will be a losing battle as they sell gold to get dollars, but they just don’t have enough gold at this price. Pegs always fail eventually.

    See http://wolfstreet.com/2016/05/27/dollar-exerts-stress-saudi-banks-riyal-currency-peg/

    When everything ties together, look out!

    On the other hand, when the gold dump happens, don’t be afraid. Have the courage to jump in and buy with both hands up to your maximum comfort level (and then some!).

  4. I do want to clarify one thing for the record.

    Monetary Metals does not give investment advice. For that reason and others, we do not say “sell X” or “buy Y”. We are publishing information on the state of the market that we calculate from publicly-available price quotes. And we publish the output of our proprietary model, in the form of our fundamental prices.

    bbartlow is correct. We never said “THIS IS THE TOP!!! SELL YOUR GOLD NOW!”

    We said that gold is overpriced compared to its demand.

    We recognize that each reader has a different time horizon, goals, position, etc.

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