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Despite The Smash, Gold Points To New Highs…

Silver Bullets
  • Sprott Asset Management's Rick Rule Says Gold is Now Poised To Bounce After It's Massive Decline!
  • The One Chart That Tells You All You Need To Know About Gold - Read It And Weep JPM
  • Technicals are For Short Term - Fundamentals are For Long Term. Hang On To Your Metal
February 21, 2013 8:15 am est

Feb 21st 2013 8:00am est

Stay True To Your Convictions! As Long as there are trees in the woods and ink in the machines, world governments will continue to print and silver & gold will continue their relentless bull run for years to come. – Please view the last article specifically… you’ll get the picture.

As Micheal Pento sees it, gold is simply consolidating at this level after its previous monstrous rally took it from $250 to $1900. He adds that he would “use this pullback as an opportunity to accumulate” gold and that this momentary stall is “not a reason to slit your wrists.”Forget the Death Cross, Gold Is a Buy: “I’m a fundamental guy. I care nothing about golden crosses or death crosses or anything of the kind,” says Michael Pento, founder and president of Pento Portfolio Strategies. While he currently holds about 15% of his portfolio in gold and admits he’s “not happy,” he’s confident his bullish call will vindicate him in the near future.

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Gold is Poised To Bounce says Rick Rule from Sprott Asset Management… Here’s Why…

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5 Things That Should Be In Your Portfolio -If you’re holding mostly stocks, then Cramer sees gold as a hedge. That is, catalysts that typically send the stock market tumbling send gold higher. “Think of it as insurance against economic and geopolitical chaos as well as inflation,” said Cramer.Cramer also likes gold, because he believes it’s becoming a kind of de facto currency. “With governments debasing their currencies left and right to be competitive investors need to go somewhere, and they’ve been turning to gold,”

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Despite The Smash, Big Picture For Gold Points To New Highs – Take an important step back and look at the big picture in key markets such as gold and silver.  Note the minimum projected move for gold would take it to new all-time highs, despite the recent smash.“As humans we suffer from bias, and as investors we suffer from confirmation bias to our market views.  In an attempt to challenge these biases I have inverted the chart on gold to see if the chart tells a different story, or gives a different picture to my view that we are on the verge of a massive move up in the price of gold.

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This is the only chart in existence that tells us when the next high and the next low for gold will occur.  The turning points in the squares at the top of this chart are a golden gift from Mother Nature.

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Major Bottom Forming In Gold But Stocks Shaky – If you are sufficiently diversified you have your stocks that went up very strongly, your bonds that up until recently went up very strongly.  Then I would consider the sharp decline in the price of gold in the last few days as a gift, as an opportunity to increase my position and my weighting in gold.”

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These Fundamental Charts Say “Gold Is Getting Ready to Run!” – Do you see any evidence in the above chart that the short-term paper gold shorting is affecting this chart?  No, of course not. Paper Gold can only be used to manage the price of Gold in the short-term, but the massive buying of Gold will always win out.  The central banks need Gold much higher, or they would not have come in during this correction to accumulate massive amounts.  Do you remember the old adage “Don’t fight the Fed?  The Fed front runs it own actions.  Do you think the heavy Gold buying by the Fed indicates that their actions will take Gold much higher?  Of course it does – they aren’t stupid.

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