Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | UraniumSeek.com 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

Gold Seeker Weekly Wrap-Up: Gold and Silver Close with Modest Losses but Miners Gain on the Week
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 11 24 2017
By: Ira Epstein

Life Under Manipulation
By: Theodore Butler

Legendary investor names his top junior resource stock picks right now
By: Peter Spina, President, CEO of GoldSeek.com & SilverSeek.com

Silver Miners’ Q3’17 Fundamentals
By: Adam Hamilton, CPA

Deflation must be embraced
By: Alasdair Macleod

Gold’s 47-Year Bull Market
By: Steven Saville

Taxes, Macro Signals, Seasonality, US Stocks and Gold Miners
By: Gary Tanashian

The Key to Profitably Ending Precious Metals Price Suppression And Other Markets Manipulation!
By: Deepcaster

The Precious Metals Bears' Fear of Fridays
By: Dimitri Speck

 
Search

GoldSeek Web

 
Precious Metals Continue To Show Weakness With One Exception


 -- Published: Monday, 1 September 2014 | Print  | Disqus 

By Warren Bevan

U.S. markets and leading stocks continue to show strong and positive action, mostly early in the week.

          It really has been a great August, and that is rare, but it just shows that you must always be paying attention to things and can’t rely wholly on historical or past norms.

          Does this mean the usually strong fall period will be weak, or does it mean it will be extra strong?

          Only time will tell and I will be keenly watching for the answers.

          As for the precious metals, gold and silver tried to move higher a couple times this past week only to reverse and resume the dominant trend, which remains lower.

 

          Gold did gain 0.48% for the week but did so by building a bear flag.

          This gold chart is not showing me a sign of a low at all here.

          This chart tells me we still need to move down to test the $1,250 area and see how it handles those levels.

          I’ve said for almost two years now that $1,000 looks like it is going to be tested before an uptrend in gold takes over.

          I still believe that to be true when looking at the longer-term monthly chart.  Things take time.

          I’ve talked about the so called “blood in the streets” moment and we have yet to see that.

          I haven’t seen the long, and wrong, gold bulls even come close to capitulating yet.  Once I see some of them begin to throw in the towel that will be near the low mark.

          That said, gold bulls are a different breed and much more stubborn than the run of the mill bull so it may take some time at lows or an extreme spike below $1,000 to really get them flustered.

          The trend remains lower for gold.

 

          Silver rose 0.57% over the week past and did put in a valiant effort to break out of this bull flag and above the downtrend line but so far, has failed.

          Silver has been leading gold for the past few weeks and still is.

          I always get lots of emails when a move is happening in the metals and this week was no exception.

          Tuesday and Thursday early in the day, the emails were flooding in telling me lots of reasons why gold and silver were now on the way back to the moon.  Those emails stopped coming in later in the day once the moves faded.

          It never seizes to amaze me how quickly people can flip or jump on a trend well before it is anything even remotely close to a trend.

          You really don’t have to nail a low at all.  If a trend is true it will give you many, many chances to jump on board during its lifetime.

          I need to see some very constructive action before I am convinced of a trend change and we are not close to that in the metals yet.

          Silver remains in the bear flag and on the way to $18.75.

          $15 is major support on the monthly chart and I still hold to the thought that the area will be tested before we can consider a true low to be in.

 

          Platinum clawed out a 0.17% gain for the week and is also building a bear flag.

          Platinum follows gold and silver and this bear flag points to a move down to $1,360 which also has horizontal chart support.

 

          Palladium continues to shed the weakness and march to its own beat rising 2.01% this past week back into new all-time highs.

          Palladium certainly isn’t moving as strongly higher as it could be if the other metals weren’t so weak but it is doing well.

          As long as palladium remains above $890 it’s all good for higher prices.

          While metals remain weak with the exception of palladium, biotech and healthcare stocks remain the place to be to cash in on this market strength.

          I like to think I have the best of the bunch, in terms of stocks, and I do.

          There is no point in being in weak stocks or sectors hoping for a move when you can be in the stocks who are moving.

          Takeovers are a big theme in the biotech arena and we were lucky enough to grab a huge premium on such news this past week.  I’m also in a few other stocks who have that same potential in the short-term.

          Thank you very much for reading and you can find out more about what I do for members as we focus on leading stocks for the most part at http://wizzentrading.com

          Enjoy this great summer weekend.

          Warren

          In my free, nearly weekly newsletter I include many links and charts which cannot always be viewed through sites which publish my work.  If you are having difficulties viewing them please sign up in the right margin for free at http://www.wizzentrading.com or send an email to warren@wizzentrading.com with “subscribe” as the subject and receive the newsletter directly in your inbox, links and all.  If you would like to subscribe and see what my portfolio consists of please see here.

If you found this information useful, or informative please pass it on to your friends or family. 

Free Service

          The free weekly newsletter “Wizzen Trading” does not purport to be a financial recommendation service, nor do we profess to be a professional advisement service.  Any action taken as a result of reading “Wizzen Trading” is solely the responsibility of the reader.  We recommend seeking professional financial advice and performing your own due diligence before acting on any information received through “Wizzen Trading”.


| Digg This Article
 -- Published: Monday, 1 September 2014 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus



 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2017



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on GoldSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer

The views contained here may not represent the views of GoldSeek.com, its affiliates or advertisers. GoldSeek.com makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of GoldSeek.com, is strictly prohibited. In no event shall GoldSeek.com or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.