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  • Mark My Words 2016 is the Year for Silver and Gold Prices



    The GOLD PRICE rose another $15.80 or 1.5% today to end Comex at $1,107.70. This came atop yesterday’s $13.50 (1.3%) rise and close above $1,088 resistance. The SILVER PRICE yesterday gained a silly 8/10¢ and today added 37.8¢ (2.7%) to $14.335

    ‘Twas the GOLD PRICE third try at $1,088 yesterday, and it punched through its 50DMA and $1,088 resistance like Forrest punching through Sooey Smith’s lines at Brice’s Crossroads. Today came the mopping up with a further $15.80 rise. Exactly the sort of trading the gold price needed to exhibit. Next challenge comes at $1,125. Above that lies the greater challenge, the 200 DMA at $1,140.20, running in the same stream bed as the downtrend line from the October 2012 high.

    Ladies and gentlemen, this is getting’ excitin’! Looks like the price of gold has left behind an upside-down head and shoulders bottoming pattern. Look on the right.

    Only little gnat in this fine-smelling ointment is silver’s close below 1440¢ today. That ought to come tomorrow: silver closed slap on its 50 DMA. Also has completed a similar upside-down HandS. Volume is rising strongly for both silver and gold, confirming a rally.

    What in the world are y’all waiting for? You’ve got the buy the breakouts. Y’all write down my words now, 2016 is the year for silver and gold prices. Write that down, see if I have to eat the paper later.

    Oftimes rudimentary comparisons sing a loud tune. For instance, ponder these movements of the first four trading days of 2016:

    Dow Industrials, down 910.93 or 5.2%

    Sand500, down 100.85 or 4.9%

    Dow Transports, down 513.32 or 6.8%

    Russell 2000, down 71.32 or 6.3%

    Wilshire 5000, down 1,078.33 or 5.1%

    Nasdaq Composite, down 317.98 or 6.4%

    Nasdaq 100, down 287.55 or 6.3%

    Gold up $47.40 or 4.5%

    Silver up 56 or 4.1%

    Platinum down $15.30 or 1.7%

    Palladium down $67.80 or 12.1%

    US dollar index, down 0.38 or 0.4%

    Res ipsa loquitur—the thing speaks for itself, and loudly.

    Merciful heavens, I feel like a tomcat in a tuna-fish processing plant. There’s so much good stuff lying around I just don’t know where to start.

    The Dow Jones Industrial Average has suffered its worst four-day year’s start on record, down 5.2%. Today the low slid 442.88 (2.6%) but the Dow recovered to down “only” 392.41 or 2.32%, closing at 16,514.10. S&P500 dove 47.17 or 2.37% to 1,943.09, 100 points lower than it ended 2015.

    But y’all don’t listen to me, a nat’ral born durned fool from Tennessee. Y’all listen to that bril-yunt academishun-ess, Janet Yellen, and she’ll explain to you how the US economy is jes’ a-boomin’. My goodness, what WOULD we do without a central bank to stabilize the economy?


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