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Weekly Metals Wrap: Buying Opportunity Or Bear Market?

Welcome to Follow the Money’s Weekly Metals Report for the week of August 28!

by Stephen Penny, FTM Daily:

It didn’t take long for the potential selloff discussed last week to materialize with silver breaking down from its 8-week trading range and subsequently bouncingprecisely off of the $18.50 level.  Gold was also down on the week, but remained within the confines of its $1308-$1375 two-month trading range.  There were several instances of large sellers dumping huge amounts of futures contracts to get the ball rolling to the downside.  Normal profit-taking is to be expected, but logic dictates that a “for profit” seller would not simply  dump $1.5 Billion worth of gold futures contracts in a 1-minute timeframe Recall that a small handful of commercial banks are holding enormous bets on lower metals prices.  Hmmm.

That said, the point of this weekly report is not to rehash all of the blatant corruption in the financial system, but rather to analyze and interpret the data and trends to better identify entry points for acquiring physical metal, become more profitable traders, and to plan wisely for the unwinding of this debt-based monetary system.  While the corruption is loathsome, the objective here is to properly analyze the data and respond accordingly.

So, with the short-term trend back to down, is it time to lock-in recent profits or are we being presented with an opportunity?  More on that in the charts below.

Screen Shot 2016-08-26 at 11.46.28 PM

Dips within the context of Long-Term uptrends are often profitable opportunities.

It is my hope that this report provides value for both the “stacker” attempting to hedge against the prevalent lunacy of central planners as well as for those desiring to trade profitably.  It’s frequently said that “attempting to trade a manipulated market is a fools errand.”  While that may be true for some, applying wisdom, proper discipline, and prudent risk management combined with a proven system and guidance from a successful veteran can make trading a lucrative additional income source for many.

As usual, there’s much occurring behind the scenes not being reported by the mockingbird media that has important implications for everyday people.

Metals Related News and Trends

Below is a brief synopsis of several stories that highlight and expand upon some of the trends being tracked at Follow the Money.  

  • Rothschild Ups Gold Bets.  Lord Nathan Rothschild, of the prominent Rothschild banking family, wrote in his firms semiannual report that  central bankers have pursued “what is surely the greatest experiment in monetary policy in the history of the world…We are therefore in uncharted waters and it is impossible to predict the unintended consequences of very low interest rates, with some 30% of global government debt at negative yields, combined with quantitative easing on a massive scale ….We saw opportunities in other currencies as well as gold, the latter reflecting our concerns about monetary policy…”  He joins a growing number of big money insiders becoming outspoken on gold and the fragility of the financial system.
  • This article lists a sampling of donors to the Clinton Foundation.  Especially noteworthy is James Murdoch, COO of the “conservative” FoxNews channel.  Let’s also not fail to acknowledge theTrump Foundation paying due homage as well.  Follow the Money.
  • Fed’s Yellen, Fischer Send Mixed Messages, Leave Markets Guessing.  Fed Chair Yellen said Friday that the case for a rate hike has “strengthened” and that the economy is “now nearing the Federal Reserve’s statutory goals of maximum employment and price stability.”  The Fed currently defines “price stability” as your cost of living going up by at least 2% annually  Vice Chair Stanley Fischer told CNBC that Yellen’s comments are consistent with a rate hike in September, adding that a second increase could come in December.  Sunshine and Lollipops.  Call me cynical, but I suspect that optimistic comments like these are intended to benefit the status quo political establishment.  An actual rate hike before the election would have the opposite effect.  The next catalyst for the metals could be a growing number of market participants assessing that the Fed is trapped and more likely to ease than tighten.

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1 comment to Weekly Metals Wrap: Buying Opportunity Or Bear Market?

  • Robb Bierbaum

    Stephen Penny is consistently one of the most reliable researchers of precious metals among many other topics ranging from economics, Geo-political issues and even faith. Trusting his research is an easy thing to do when it always aligns with truth.

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