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Round 3 of the precious metals “Flush” looks to be on

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Published : December 14th, 2011
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Category : GoldWire

 

 

 

 

Round 1 was May, Round 2 was October and it looks like December will mark round 3 of the official metals flush. I wrote when I analyzed silver last week that $30.65 was the level to watch on a closing basis to confirm the intermediate head and shoulders top. $30.00 would be the breaking point. We reached those levels today and it is now prudent to position yourselves for another down-leg. I did so yesterday in full anticipation of a boring FED statement that would essentially maintain the status quo without any indication or need for immediate quantitative easing. Suffice to say that the pattern, in my own personal view has been confirmed and should trigger the next leg down. The markets in general turned south after the FED’s announcement and gold and silver were also sold off on news that the FED won’t be printing any more money money for the time being.

 

 

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Dan the flush is over and out. The recent one has proved the fact that man proposes and God disposes. Nobody here has any idea what the hell is happening.Period.
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Paper gold prices determining physical prices will self correct one day soon. The scare tactics won't work. I am keeping my physical. We are in the end game with the world rushing to US currency. The question I have is how low will paper gold prices force physical gold prices before the bluff is called?
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Dan the flush is over and out. The recent one has proved the fact that man proposes and God disposes. Nobody here has any idea what the hell is happening.Period. Read more
Papli - 12/14/2011 at 11:55 PM GMT
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