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August 12, 2011 / Hal (GT)

Gold consolidates from latest nominal high(s).

I’ve been watching gold and silver closely since last evening. Gold has continued to consolidate from the multiple highs it blew through over the last several weeks.

Silver is trying to gain going into the mid day. Speaking of that, you silver folk should look through today’s posting for some links on it today.

Peter Grandich had an update on the markets this morning and it would good to see him feel the same way I do about gold’s pause here. Good because I know he is far wiser than I on this bull run:

Are We Having Fun Yet? 9:30AM EST

With gold over $1,800, I became quite concerned that any further parabolic rise immediately from there would actually hinder the “mother” of all bull markets. I’m delighted to see gold pausing and would even welcome further consolidation with $1,675- $1,700….” [be sure to click over and read his entire post]

Rule – Social & Economic Chaos to Create ‘70s Style Fear Cycle <- I barely remember this period, so I’ll trust him on it.

Silver Demand and Market Volatility <- HT to Laura Gross who tweeted this today.

Google Trends: Silver Prices -> @soclose2me (Chris Close Austin Tx) sent this link to me via twitter. Pretty cool graph based on google search metrics. You might want to bring up a year chart for silver and compare the two.

Google Trends: Gold Prices -> Having been introduced to the trends at google, I looked up gold. Hmm. 🙂 Interesting to see which are the top countries trending in this google metric. I’m surprised the USA is number four, frankly. Even more surprising is the the USA is number one for the silver metric.

The Public Be Damned <- Interesting article from Ted Butler. Deals with the volatility in the markets like silver and gold.

Ed Steer’s Gold and Silver Daily is full of good info, like the link to Ted Butler’s article. But this quote from Ed really caught my eye:

Gold and silver are still horribly overbought…and both the 50 and 200-day moving averages are so far out of sight below, that a drop of $200 wouldn’t surprise me in the slightest, as I could explain that easily.

Jim Sinclair had this to say in a post in regard to the margin increase:

Before gold and silver reach full valuation the Comex will have increased margins to CASH only, 100% margin, paper ETF delivery.

What To Do As Gold Reaches $1752.50 <- Santa Sinclair also had this jewel.

Margin Hikes help derail gold; HIgher Equities also hurt <- Dan Norcini on the hikes.

Here’s a Tweet from Laura Gross that I just saw:

Notes physical ETFs recently held 91 million ounces of #gold globally –

U.S. Consumer Confidence Plunges; Lowest Reading Since 1980 <- That’s you and me (well, if you’re reading this in the USA).

Food for Thought: Silver Drops on Panic <- worth a read. Here’s a snippet:

The key thing to remember, even as silver fluctuates more than gold, is that it eventually has always followed gold. It is a monetary metal as well as an industrial one. In fact, the word for money in Spanish, French, and other languages is “silver.” That means that if blood on the streets and panic in the broader markets push gold up while pushing silver down, silver should eventually rocket back with higher percentage gains. This is what happened after the 2008 crash, when silver corrected harder than gold.

I’ve got to throw this in for some humor. James Rickards, one of the wise men I often share with you in regard to the precious metals market, Tweeted this today and made me laugh:

“Sizing up the Republican field so far, I’m looking to invest in a well run public company that makes cowboy boots.”

No Confidence Creates Volatility <- Expected Returns nails it… again.

OPINION: The Next Economic Crisis Will Be Much Worse Than 2008

Gold, and Platinum, and Money, Oh My! <- Great graphs and thoughts as usual from JESSE’S CAFÉ AMÉRICAIN.

Theft rises with the price of gold <- News report.

Don’t Let Anyone Tell You Gold Isn’t Golden

Here’s a video I tweeted early this morning, but for some reason the link in the tweet didn’t bring up the video. Probably something to do with the fact I was viewing it and reading the news article from my phone and a news app.

CAUTION: These 4 things happen just before major stock market crashes (and they’re happening RIGHT NOW !) <- food for thought…. or indigestion.

Okay. That’s a lot of links for today as we go into the weekend. Gold is showing some strength here as the day is winding down. $1,746.80 right now. Silver is a healthy $39.17.

Have a great weekend. See you all on the flip side.




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