Doomstead Diner Menu => The Kitchen Sink => Topic started by: Eddie on June 06, 2015, 08:05:44 AM

Title: Gold and Silver Might Test Yearly Lows
Post by: Eddie on June 06, 2015, 08:05:44 AM
Gold and Sliver are both showing signs of weakness, with silver slowly sinking over the past few days down towards it's strong support level around 15.50 and gold's strong support level of 1180 was actually breached this week...

I think it's being engineered by TPTB for two big macro reasons. One is the Grexit situation.  The other has to do with this sudden meme of cashless money.

The Greeks are already taking all their money out of the banks, and as the rest of us come to the realization that we probably should too, metals are the last place the banksters want us to go looking for alternatives.

Looks like a reasonable buying opportunity to me, although I think silver could go as low as $9-10, and gold to $700-800 in the event of another deflationary "event" like a stock market meltdown.