Gold and Silver appear to be in the process of finding a bottom; however, the price action could continue to be choppy in the coming weeks. Ultimately Citi’s FX Technicals group, as the following charts suggest, expect both precious metals to move much higher in the long term with the potential for Silver to be the outperformer, as was the case from 2008 to 2011.
http://www.zerohedge.com/news/2013-06-27/citi-are-gold-and-silver-finding-bottom
Gold Crashes Through Production Cost Levels
Gold fell to its lowest level since 2010 on Friday to under $1,200, which is what it costs many miners to produce an ounce of gold, and analysts tell CNBC that miners will be “severely” impacted if prices stay here.
http://www.cnbc.com/id/100851209
Buy on the Flush?
Day 5 Of The China-Open-Precious-Metals-Smackdown
Deja Deja Deja Deja Deja Vu… Gold (and silver) are legging lower once again as China’s markets open. Spot gold just hit $1180 (down 2.5% from post-US-close highs). Given the state of the short-term funding markets in China, it seems possible that banks are liquidating any- and every-thing to realize cash (copper is also suffering modestly here at the open).
http://www.zerohedge.com/node/475798
Just like interest rates, now is not the time to lock in on a mortgage.
Deja Deja Deja Deja Deja Vu… Gold (and silver) are legging lower once again as China’s markets open. Spot gold just hit $1180 (down 2.5% from post-US-close highs). Given the state of the short-term funding markets in China, it seems possible that banks are liquidating any- and every-thing to realize cash (copper is also suffering modestly here at the open).
http://www.zerohedge.com/node/475798
Just like interest rates, now is not the time to lock in on a mortgage.
Jim Sinclair: The system is in collapse, buy gold with every asset
Jim Sinclair’s full email alert to PM investor subscribers:
DB
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