Global Currency Crisis & Gold – What’s Really Going to Happen in 2011 – 2012

Following on from the first 2 parts in this series: Whats really going to happen in 2010 Whats going to happen in 2010/2011 – part II Another great writer and analyst makes it into our categories section, Bob Chapman of Global research with a seminal must read piece outlining the road ahead towards a new [...]

Gold & Silver Up, Up, Away?

by admin on 03/10/2010

So with the US Dollar continuing to collapse Gold & silver both made new US $ highs again this week, silver prices gained 23.9 cents to close above $22 an Oz on Friday for straight weekly gains 3 weeks in a row, and continuing its run of fresh 30-year highs, prices climbed 12.3 percent for the month and 16.6 percent for the quarter.

“Investors are clearly shifting their focus to precious metals of a hybrid character,” Commerzbank said in a report released Thursday. “These firstly have the status of a safe haven, but also show some correlation with the economic cycle. Silver, platinum and also palladium should therefore remain well supported.”

Silver has now outperformed gold for the third consecutive week, trimming the silver-to-gold ratio further, which is now at 59.74, compared to last Friday’s when it took 60.66 ounces of silver to buy one ounce of gold.

And of course the naysayers are out in force once again, with their blind chorus “bubble, top, Gold at $900, blah blah ..yawn.

The truth is that along with this last headfake stock market rally before the real collapse arrives, everything is going up, and fast, Gold & Silver are being outpaced by many commodities.

Watch this Peter Schiff video for the full story.

We are so far from a top or a bubble it’s ridiculous, all you can do is laugh at these clueless paper-ponzi loving “analysts” and smile politely at family members advising about pensions and stocks.

The sad truth is that many people cannot, or will not take “the red pill“, and just cannot see the woods for the trees. We saw a great quote from “The Matrix” on this subject:

“you have to understand, most of these people are not ready to be unplugged. And many of them are so inert, so hopelessly dependent on the system that they will fight to protect it.”

So this great post from Jesse’s Cafe Americain is timely to once again put it in perspective, you can see looking at the charts its not even a particularly impressive rise this time when compared to 2009′s run up, never mind the parabolic blow off top that will mark the final stages of the ultimate Gold rally. In fact all Gold is actually doing is once again hedging against the dollar collapse were witnessing currently.

It’s not making new highs against GBP and has actually fallen slightly (20Euros per Oz) over the last couple of weeks, it’s just a currency play at the moment, nothing to get excited about here, never mind “the top”, we are still accumulating Gold & Silver weekly.

Gold Daily Chart and a Comparison of the 2009 and 2010 Gold Rallies

If the 2010 gold rally lasts 98 calendar days or approximately three months, that targets October 31.

If the 2010 gold rally results in a price increase of 27% that projects a target of $1,480. say

..what we always say, we are 100% all in Gold & Silver for the long run, if you  think now might be a good time protect your wealth with Gold &/or Silver:

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