Categories: General Market Commentary / Precious Metals
Topics: General Market Commentary / General Precious Metals

With Federal Reserve Uncertainty Out of the Way, the Gold and Silver Bull Will Now Resume

With Federal Reserve Uncertainty Out of the Way, the Gold and Silver Bull Will Now Resume

Last year, we were consistent in stating all year that every dip in the price of gold and silver assets was a trap and false buying opportunity that would just precede lower prices. This year, we’ve been consistent in our message that every significant dip has been a true buying opportunity and would precede strong rebounds in the price in gold and silver assets.  For example, on 25 August, we wrote a piece titled, “Don’t Worry. Falling Gold and Silver Prices Equals Big Opportunity”, and well before that, on 21 June 2016, we penned a piece titled “Three Charts that Show Much Higher Gold and Silver Prices are Still Ahead.”  

This time around, we informed our members that it didn’t matter what the Federal Reserve announced yesterday, that either announcement would turn out to be long-term bullish for gold and silver. However, I made it very clear that I believed the “do nothing” Fed would indeed do nothing a couple of days ago, and that such a do nothing decision would likely lead to an immediate spike in the price of gold and silver mining stocks, which is exactly what materialized. At the very start of this month, I provided concrete price levels to our Platinum Members at which I believed the gold and silver correction would reverse, at which time gold and silver stock prices would also reverse.

Silver bottomed exactly in the narrow zone where I stated it would bottom, about 10% lower in price from its price at the start of this month, and gold bottomed less than $6 an ounce from the price point at which I stated gold would bottom. However, when the weakness that we predicted would happen this month indeed materialized, many were understandingly misled by bankers that “painted” a head and shoulders pattern in both the HUI Gold Bugs Index and the Global X Silver Miners ETF, into interpreting such a pattern to mean that an imminent significant further drop in gold and silver stock prices was on the way.

To continue reading please click link https://smartknowledgeu.com/blog/2016/best-gold-and-silver-mining-stocks/with-federal-reserve-uncertainty-out-of-the-way-the-gold-and-silver-bull-will-now-resume/