On a personal note…
Please, do not get caught up in the “price” of gold and silver. Do not let that be a determining factor of you making your move to buy or not – There is PLENTY of “value” in gold and especially silver at these levels. As I’ve mentioned before, people miss out on 50% of a move because they need confirmation of a breakout before coming in and when they see it breakout, they say OK, next time it dips, I’m in. The problem with that is two fold: 1) When it comes down, they think its crashing again, so instead of buying into the weakness, they get analysis paralysis and freeze. 2) The market doesn’t dip as much as they hoped and this prevents them from buying at all until most of the move has been made and its all over the news. Then you say… Oh Spit! Now I have to get in at any price – and what happens from there? You get it… So, if you think you’re in one of those categories, then do what I’ve been saying for months – Dollar cost average yourself in a little at a time – But some up and but some down, just have a strategy in place – If you need help with a strategy, my phone number is plastered all over the place. Do not allow yourself to just sit on the sidelines and watch everyone else make money. When your ship comes in guys, don’t be caught at the airport waiting for a plane! Again, silver is up 24% from the low in June… Did you buy in June?
The Mission Of The Silver News Surfer Has Always Been & Will Always Be – To Preserve Your Wealth, Protect Your Purchasing Power and Create Generational Wealth!
May Health Wealth And Success Be Yours!
On to the business of protecting your wealth…
Remember back in late March, early April there was news that George Soros dumped a bulk of his GLD holdings and soon thereafter – Boom! The bottom fell out?
Well today it was said that George Soros Takes a Giant Put Position Against the S&P 500 It’s been said by Oren Klaff that George Soros makes most of his decisions based of feelings, twitches and superstitions… Maybe as the ‘Hindenburg Omen’ looms over S&P 500 as stocks stall has something to do with his decision – Who knows, I tend to think differently –
Coincidence, or do you think he knows people who know people – Lets use our imagination for a minute…
Who does someone like George Soros associate himself with? Who are his buds? Where are his closest allies in life employed? Oh boy – To be a fly on the wall in his office!
The fact is that you don’t need to be a fly on the wall, just follow what he and other wealthy fund managers do. That’s why I dedicate myself everyday to bring you the latest breaking news from top fund managers and top economists from around the world – So you too can have a chance of making money, preserving your wealth and protecting your purchasing power.
Now here is guy you MUST give respect to – Dennis Gartman says: I timed the market wrong and now I want out! It’s not that easy as a big dog like Dennis to admit his mistakes, but he came right out and said it. He stated that he’s getting out of equities and he has other trades that are working out just fine, such as his gold trade.
On another note, I think that the more time goes by (some 30 years) and the more information that is available on-line, people are now coming to grips with the fact that Seasonally (for 30 years), August has marked the cyclical low in the price of gold & silver and the next stage of the price is certainly up.
Lets review: From the low on June 25th, silver is up 24% which puts the shiny stuff back into bull market territory. Yesterday alone, silver was up $1.20 which equates to about 5.5% on the day.
This is how fast silver can run and it’s only getting started.
Also, just to be clear, most of this recent upside action was due to short covering and for those of you who don’t know how this works… When you take out a short position and you want out, you don’t sell it out, you bu it out and that’s why prices spike on what’s called a “short covering rally” which is what we are experiencing.
Allow me to assist you in understanding these ever changing and challenging financial markets and more importantly, how you can profit on the upside potential and protect yourself from the downside risks….
Now, onto the breaking news that matters…
Asia Shocks West By Demanding Their Gold Be Sent Home – The gold leaving the COMEX vaults is likely headed to Asia.’ It’s obvious this is what has been happening for many, many months now. If you look at the premiums in Shanghai today, they are running at a steep $22. So it’s become quite apparent that bullion banks have been taking the gold out of the ETFs and capturing the premium in Asia by selling the ETF gold overseas. But the interesting thing here is the physical demand, and I have been discussing this for some time.
Western central banks claim that there is a lot of physical gold available for purchase. That is pure propaganda and a lie. A very large part of the 1,300 tons of gold that was shipped out of the Bank of England, and gold that is being shipped out of the Fed as well, is going into the vaults in China and other parts of Asia, And It’s never coming back! There is a massive run on physical gold right now and this is creating a squeeze.
The bottom line is the Western fractional reserve gold system is now on the edge of collapse and the Asians know it. You can expect to see many more days like this in the future as the run on physical gold intensifies and the squeeze accelerates.”
GET READY: The Great Transfer of Wealth in Gold & Silver is Coming – Only a fraction of the public are ready for what is coming. Most are still totally invested in paper assets that have no future… and the future is now here. Even though many in the East are buying gold and silver, those in the West are totally asleep at the precious metal wheel.
Not only will the values of gold and silver increase substantially in the future, but they will also be an excellent investment due to the upcoming global energy constraints.
We Are Very Late In The End Game – “It’s Close To Game Over”– There are serious strains in the (gold) system. I’ve never witnessed such a serious strain in my lifetime in terms of the backwardation of gold, and in terms of the lease rates being negative for such an extended period of time. This suggests that there are two forces at work: One is that there are serious strains in the system — that the bullion banks are struggling to come up with the physical gold for spot delivery that the market demands. The second is that trust is also leaving the system.
Two major bullion banks have already reneged on their paper contracts to deliver physical gold to their customers — they will only settle in cash. The setup now is incredibly positive for gold and precious metals. Every time that we’ve seen this in modern history, this phenomenon has been followed up quite quickly by a significant updraft in the price of gold.
Sr. Trader Tell Bloomberg: We Tried To Buy Gold 8 Weeks ago at $1,200 and We Still Have Not Recieved Our Delivery Mihir Dange, co-founder of commodity trading firm Grafite Capital clarified gold backwardation for Bloomberg, predicted a massive move higher in gold once $1350 is taken out to the upside because “Gold is in backwardation right now.’
The spot futures are above the next month. I’ve seen that once in my 12-year career, and every time we’ve seen that we’ve seen a huge rally in the gold market. I think what that means right now is there’s heavy demand for the physical with it trading so cheap. China reported in the first half of the year they had a 50% increase in consumption of gold.
In our office we tried to buy gold when it got down to around $1200 to $1250, it’s been 8 weeks, we still haven’t received our order of physical gold!“