‘Smart Money’ Ahead of Curve on Gold, Silver

Posted by on February 24th 2012 in Bailout, China, Federal Reserve, GATA, General Economy, Gold, India, Monetary Policy, Short Sellers, Silver, U.S. Congress, Wall Street | Be the first to comment!

Technical analyst Dan Fitzpatrick says that many mainstream investors aren’t paying much attention to gold and silver, thinking “that’s so last year.  But those are the trades we really want.  You look at gold, you look at silver, they’ve actually consolidated really nicely in a healthy way.  They haven’t broken down, it’s not a top, it’s just some really great price action to get these stocks and metals down to levels where investors are starting to buy them again. And the uptrend still remains.  You look at any chart and you can see that.”

And according to Sprott’s John Embry, “the smart money has been buying gold all along…. I don’t think the general public gets in, until gold clears $2,000 and maybe even higher.  At some point people will be forced to talk about it.”  As for silver, he thinks that “Once it starts to really gain a head of steam, the very lack of positive sentiment could change quite abruptly,” and that silver has been hurt by “the fact that the Dow goes up day after day.  The bulk of the public is focused on what the mainstream is promoting and it’s doing well, I think it detracts from gold and silver, which is where investors should be.”

Related Links:  

MarketWatch/Reuters:  Gold, silver end lower but score weekly gain

Kitco/CNNHigher gold prices seen for next week as Iran tensions lend support

Daily Reckoning:  Is oil the new anti-dollar?

Zero Hedge:  $200 oil coming as central banks go CTRL+P happy

GoldMoney:  Gold and silver prices benefiting from liquidity flood

KWN:  Ben Davies – Central bank buying has gold shorts trapped

Eric Sprott & David Baker:  Unintended consequences

SafeHavenSilver market update

AP17 tons of silver from shipwreck return to Spain

The Hindu:  China outshines India as largest consumer of gold jewelry

GATA:  In search of the ‘gold bubble’ in Palm Springs

LA Times/Coin Week:  Goldline agrees to refund up to $4.5 million to former customers

Jim Rogers: U.S. presidential favorites clueless on economy

PoliticoDebt doomsday may come sooner than expected/Report

Russia Today:  Argentine advice for Greece: Default now!

Mike Shedlock:  Pact with the devil over gold

No TweetBacks yet. (Be the first to Tweet this post)

Leave a Reply