Gold Market UpdateGold finally crashed key support at last year’s lows on Friday, which was a very bearish development that has opened up the prospect of an immediate severe decline at least to the strong support in the $1,000 area. Such a decline will have grave consequences for the Precious Metals mining industry, whose costs have risen sharply in recent years, and is expected to lead to a massive wave of company failures, as many who have been “hanging on by their fingernails” finally lose the fight and disappear over the cliff. This will eventually lead to an acute gold supply shortage, which will be exacerbated after the dollar’s deflation panic “swan song” rally is done, and the dollar is then pushed off its perch as the global reserve currency by the actions of China and Russia (and others) working in concert to bring it down. This will lead to a massive resurgence in gold and silver and to the stocks of mining companies who weather the imminent Great Cull going ballistic...
Posted at 7.10 am EST on 2nd November 14
Silver Market UpdateSilver finally broke down from its long-term uptrend late last week, which was a very bearish development that has opened up the risk of an immediate severe drop. As with gold, silver looks set to enter a cycle of company failure and mine closure leading to an eventual production shortfall, which, coupled with a falling dollar after its current deflation induced “swan song” rally has played out, leads in turn to sharply rising prices and a spectacular rally in the stocks of companies who have managed to survive the imminent Great Cull...
Posted at 7.10 am EST on 2nd November 14.
Oil Market UpdateYou’ve seen what happened to gold and silver last week – they crashed support and plunged. Well, the same looks like it’s about to happen to oil, one reason being the same, the strong dollar, and the other reason being sagging demand as deflationary forces wreak havoc in Europe and other places.
Posted at 11.10 am EST on 2nd November 14.
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