Will Gold/Silver Break Out or Break Down?
Will Gold/Silver Break Out or Break Down? by Rory – The Daily Coin
What is going on with gold and silver today? I thought this was BLSBS week which would normally mean the metals are kept in check preparing for a smash just as the cheerleaders on MSM “financial news” TV networks scream about “how great the unemployment numbers are this month”.
We have been hearing from a wide range of analyst in both mainstream and alternative metals analyst space that precious metals were going to preform quiet well during the Fall months of 2017. Well, here we are on the back side of summer and the metals are doing well in fending off attacks from the banksters and continuing to move to the upside. We can only hope this trend continues. The miners are moving in a positive direction which explains some of the movement for the metals and the big buyers, India and China continue doing their usual gold grabs unabated. India has actually been importing more gold than usual over the past several months.
Click Either Chart to Enlarge
Are we going to see gold hold above $1,300 and then reach for the line of resistance Terry Kinder pointed out at $1,339 by weeks end or are we going to see the typical “smash-and-grab” conducted by the bullion banks? Today both metals look strong especially in light of the Federal Reserve Note moving to the down side.
On a side note. Over the weekend I managed to pick up two of the 2010 ATB coins – the Hot Springs and Yosemite coins. Both first year issued coins and was able to steal them at $3 above spot! I love flea market shopping for silver and gold coins!!! Also, there is a Korean coin, the Korean Chiwoo Cheonwang that is a very limited mintage coin. The 2016 coin is, according to an associate, already selling for well over $100 per coin. The 2016 mintage was held to 30,000 coins – now completely sold out and very difficult to find on the secondary market. This is making them a desirable collectors coin. The 2017 version, very similar design with only slight modifications, will have 50,000 coins minted. The premiums are already on the rise in a big way. This may be a coin to add to the stack and most certainly one to keep an eye on over the coming years.
Here are the three coins discussed – click any to enlarge