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Technical Chart Shows Silver Is About To Exit A Giant Three-Year Correction

June 11, 2014 9:46 am est

     When the World Bank says: ‘Now is the time to prepare for next crisis’  then, now is the time to prepare, not sit on the sidelines and wait to see what happens.

I’ve been saying this for a few months now… we are coming to a cross roads in equities and the metals sector, I just cant pick the day, nobody can.

I really don’t think the day matters, because if it were tomorrow, I would guarantee that you are in no way prepared. This is the time friends – prepare now…

Look… Retirement Savings Fears Grip Americans: ‘they simply Don’t Have Enough Why is that? I think if the 2008 crisis didn’t take 40% of their retirements (cause by Wall Street) they would be in far better shape and live the retirement that they dreamed of. Instead, they kept investing in the thing that ripped their savings out of their hands, instead of saying “screw you” wall street, you can’t be trusted and I don’t want to continue to make you rich off my money.

As you are well aware, there are other asset classes where you can put your money and keep it outside the financial system and not pay them their commissions every year. With hard assets, it one and done!

U.S. Bank’s Silver Short Positions send Buy Signal – The given data implies the disconnect between futures and physical silver, and indicates the limited down-potential of silver, since the experience of past years illustrates, that there had always been particularly high pressure on precious metal prices when U.S. banks had built up high short positions on respective metals.

2,000 tons of future sales might still be considered very high, since after all that’s an equivalent of 1/10 of annual silver mine production, whilst U.S. banks have already taken net-positions in gold since June 2013. But: In a historical context, the current silver short positions of U.S. banks have to be considered a rather (anti-cyclic) bullish signal.

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Technical chart shows that silver is about to exit a giant three-year correction – This is in fact the perfect setup for a major new uptrend to begin, and the only further supporting factor required is a favorable COT structure – and that we now have.’

It is true that the real breakdown in the long-term trend to very much higher silver prices has not been smashed, despite many contrary predictions among the more bearish analysts. At the same time public opinion about the silver outlook is almost universally bearish – a good signal that prices are as low as they are going to go.

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Chinese Gold Demand Stable (823 MT YTD), Shanghai Silver Scarce – Silver remains scarce in Shanghai, premiums for spot silver past week have been above 6 percent over the international price and some contracts on the Shanghai Futures Exchange (SHFE) are still trading in backwardation.

On June 6, when the SHFE closed, the bid price for the first delivery month silver contract, which expires on June 16, was ¥ 4058 yuan. The ask price for the December contract was ¥ 4053 yuan.

This means that when you own physical silver, or can get your hands on any, you can sell it in June and at the same time buy it back in December for less money. Silver delivered in June trades over a premium to silver delivered in December, which emphasizes spot demand. Normally precious metals trade in contango; future prices being higher than spot.

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Why James Turk and John Rubino say the price of gold is set to soar to $10-12,000 an ounce – ‘In reality the great gold takedown of 2013 backfired so disastrously that not only is a repeat less likely, but its opposite, a short squeeze or counterparty default that sends the price dramatically higher has not become just possible but probable in the next few years.’ Why is that?

First, gold is migrating from West to East as China and Russia voraciously convert their dollar reserves into gold and vaults are being emptied. Secondly, gold ‘backwardation’ when the current price is higher than the future price has twice previously indicated a price hike to come in 1999 and 2008. Thirdly as demonstrated above price manipulation is about to breakdown.

Then all it takes is for the pension funds of the world to discover gold and the price is off to the levels James Turk and John Rubino expect. This book is a sensational piece of analysis but its conclusions are not nearly as sensational as they appear at first sight. Gold prices at these levels will also mean $500 an ounce silver.

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A Silver News Surfer Exclusive!

A Rare Color Diamond Gold Medallion!

 

Did You Know… That if you made a $600,000 investment in a rare five-carat fancy pink diamond in 2001, you would yield about $3 million today.

Also, A five-carat fancy yellow diamond increased in value by 180 percent from 2001 to 2011 – compared to Berkshire Hathaway stock, which increased by 52 percent for that 10-year period and Coca Cola, which grew 42.5 percent

SOURCE: Forbes

Now, look at this interactive color diamond price tracking chart and see why rare color diamonds have been a great investment in the past, in the present and projected into the future…

Click on the coin to see a great informative video that will help you to understand that…

 

Rare Color Diamonds & Gold are a GREAT investment TOGETHER…

Diamond Gold Coin 2