The Phaserl


Gold & Silver Comex Prices May Be Manipulated But Still Accurate

by Michael Noonan, Gold Silver Worlds:

Charts do not lie. There are a slew of highly respected PMs “gurus” with extensive followings. None we know of have been on target in the past year. Not only are the trends still down, prices made new recent lows, again, within the trading range, but nowhere near the “prices will reach levels you cannot believe” area. [Insert your own expectation/belief]

We have been advocating the purchase of physical gold and silver, consistently and at any price. The point is not to “make money,” but to preserve and/or create wealth.

The purpose in buying, and personally holding, physical PMs is viewed much like that of essential needs, like shelter, as an example. You buy a house to satisfy a need for shelter. Timing is not the most critical factor because it is the security and comfort of ownership that matters most. Once that need is taken care of, it becomes less important if the value declines because it is a necessity, not something that is traded like baseball cards.

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5 comments to Gold & Silver Comex Prices May Be Manipulated But Still Accurate

  • Ed_B

    “Charts do not lie.”

    Baloney! I can think of any number of charts put out by the Fed, the BLS, and others that are based on made up data that are complete lies. A chart is only as good as the data it is based upon and if that data is suspect, then so is the chart.

    Gold and silver paper prices are what they are for many reasons but true price discovery is simply not one of them.

    Agree with the part about long-term silver and gold acquisition, especially when bought routinely over time.

  • SilverHawk

    Man, I’ve never seen so many negative articles on Gold and Silver, the past few days. Must mean we’re launching Monday

    These people who use charts are morons. I haven’t read anyone yet who can predict the Friday Close price using a chart. Let alone the daily move. Where in a chart does it show Soros and Paulson pumping in a few mill? Where in the chart does it show the JPM Slam? Where in the chart does it reflect the supply and demand? People with no brains are always looking for an edge over the one’s who have.

    Use your charts when:
    1. Economic conditions are stable
    2. Supply and demand are stable.
    3. Market players are stable.
    4. Market is not being manipulated with naked contracts.
    5. You can overlay a yearly chart with the previous year’s chart and they match up.

    So get a brain cell, and just DUMP IT ALL IN PHYSICAL, and sleep tight..

    • Glitter1

      “These people who use charts are morons”
      Anyone who doesn’t use TA and view charts to calculate entry/sell points for anything,i.e stocks,Bullion,etc is simply an Amateur.Calling people who do “morons” just indicates ignorance.

  • Upstart

    Stopped reading at ‘charts do not lie’. Figured that anyone who could write such bullsh-t was not worth my time.

  • SilverHawk

    Upstart- LOL !!!!!!!

    I thought the same thing, but said, “Nah, I GOTTA read this (Junk)…”

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