The War In Gold And Silver
The central bank computers, driven by their algorithms, continue to exercise a dampening effect on the prices for gold and silver. Investors should consider what JP Morgan is reportedly doing. If the reports are correct, JP Morgan has been amassing a horde of silver greater than Warren Buffet’s foray into silver ownership and the Hunt episode in the late 1970s, combined. JP Morgan must have a very solid reason for doing so. Long-term investors should tag along and continue to build up positions in both metals as well as the miners.
“The $4,700 gold projection is a delta long-term #1 target, which is where the biggest moves take place. This chart below also shows that there have been three major turning points so far in gold’s 16-year bull market.
You can see the first buy point that was triggered in the gold market in 1999 at $253. You can also see where the sell point was triggered right near the high of $1,923.70. But now we have a buy signal that has been triggered at $1,141.60 — the second major buy signal of the secular bull market in gold.