Thursday Update: Gold Crashes Through Its 11-year Channel Support Line! How Low Will Gold Go Now?

Stay tuned for key updates in the next few days on this very important channel support test.

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1. Update: Gold & Silver to Drop to $1,675 & $30.50 by End of 2012 Before Going to $3,950 & $117 by End of 2013!

My previous article on gold & silver went viral with almost 30,000 reads on munKNEE.com alone and continues to be read by hundreds of goldbugs daily. Below is an updated chart and analysis suggesting that gold & silver have further to drop before they go parabolic. Take a look and share it with friends.

2. Dr. Nu Yu’s Latest Analysis Shows Why Current Gold, Silver and HUI Levels Are No Surprise

Gold & silver have pulled back over the past two weeks after both faced strong resistance from the upper horizontal line of their respective trading ranges [and continue to flucuate within their] 12-month Trading Ranges of $1,540 – $1,800 and $26.50 – $36 respectively.   HUI and XAU levels have pulled back and are testing the lower boundary of their rising wedges [but look likely to move upwards within their respective wedges (530 - 570 for the HUI and 200 - 215 for the XAU) before moving higher]. Check out my technical analysis below for details.

3. Now’s Your Time: Take Advantage of Market Trepidation, Act With Uncommon Confidence & Buy (Some) More Gold!

At the end of the day the gold price is not a mystery – it’s a proxy for dollar weakness. After spending the previous fall and winter testing new nominal highs above $1,800, future investors may come to view…2012 as the opportunity of the decade. Gold has shown its strength and retreated. While most investors will take that as a signal that the market has topped, some will take advantage of the general trepidation to add to their positions at hundreds of dollars off the highs. Words: 700

4. BullionVault Has 43,000 Customers: Now They’ve Cut Their Fee By 37.5% So You Will Buy From Them Too!

I believe it is important to mitigate the risk of loss with your physical bullion by diversifying the locations where you hold it.  To this end, I think it is wise to have some bullion on your property, some in secure storage off site, a portion stored with an ETF like CEF and ideally at some stored at a location overseas. In order to obtain the overseas diversification, I [recommend BullionVault  because, while their 43,000 customers have already done business with them at some of the lowest costs available, they have just reduced their initial commission fee by 37.5% - from 0.8% to just 0.5%! Let me explain further some of the advantages of doing business with Bullionvault.] Words: 796

5. Buy & Hold Commodity Assets (Particularly Gold & Silver) Starting Today: BIG Profits are Coming – Here’s Why

Savers will not stand idly by and watch their savings get wiped out by taxes and inflation….[which] is good news for investors who buy and hold commodity assets today – and it’s also a stark reminder to not be fooled by the short-term head fakes that might make it look like the commodity bull is over. Stay the course – the biggest profits are yet to come. [Here's why.] Words: 405

6. LAST CHANCE to Buy Gold/Silver/PM Stocks At Low Prices – BIG Moves Coming In December, January & February

What is developing in the markets is not the beginning of  another leg down in gold, but a second chance to get positioned for what should be a  very profitable intermediate degree rally over the next 2-3 months. [Let me explain further with a number of charts to support my position.] Words: 460

7. Goldrunner: Gold’s Extremely Bullish Backdrop Setting Stage for Run to $2,050, Then $2,400, Then $4,500 and Ultimately $10,000-12,000!

Our subscription service provides detailed technical analysis of where the price of gold, silver and precious metal stocks are going short term (in the next week or two), intermediate term (within the next 3-6 months) and long term (the ultimate top) in each stage of their respective bull runs. This service comes with detailed charting based on conventional technical analysis and our proprietary fractal analysis based on the ’70s. Below are some of our latest comments and rationale for expected price movements in gold without illustative charts which are only available to subscribers. Words: 1000

8. What, Me Worry? Not When You Look at These Monthly Gold & Silver Charts

We’ve been surprised at the recent action in the precious metals complex. During the recent correction the shares were showing quite a bit more strength than the metals. Then the shares took a dive below support yet the metals maintained their recent lows! How do we interpret this wild volatility in the relationship between the shares and the metals? Quite often we look at daily and weekly charts. Now is the time to take a look at the monthly charts which can help us get a better read on the larger trends at hand. Words: 636

9. U.S. Dollar Index to Plunge; Gold & Silver to Soar! Here’s Why

With President Obama being re-elected we can expect four more years of a Washington-centric controlled economy with a rolling program of borrow, print, spend and pretend; similar to the last four years….[What affect will such fiscal irresponsibility have on the U.S. dollar, gold and silver? Read on!] Words: 717

2012-12-20 15:05:07

Source: http://www.munknee.com/2012/12/thursday-update-gold-crashes-through-its-11-year-channel-support-line-how-low-will-gold-go-now/