The Miles Franklin Newsletter
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From The Desk Of David Schectman
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David's Commentary:
I’m not focused on what gold does tomorrow, or next week, or even next year. It will be what it will be. But it is my belief that there are so many unresolved issues that have to be addressed that it is highly probable that at least one or more will end up badly and that will be the spark that sets gold free to rise to a new all-time high. Among the issues are interest rates, the bond market, inflation, the economy, the stock market, the Middle East plus whatever new excitement Trump gets us involved in. Take your pick. What do you think the odds are that all of these items work out favorably? I wonder what odds Vegas would give?
Gold started the last bull market at $272 and powered all the way up to $1,900. Starting from the recent bottom at $1,174 it is not being unrealistic to expect gold to rise far above $2,000 this time. If it matches the gain from 2000 until 2008, gold would rise to $8,200. I’d be fine with just $2,000.
Silver is currently selling for about what it did 10-years ago.
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David's Commentary:
But look at the 20-year silver chart.
Silver is also turning up off major support at the $15 area and now setting up to break $20 and make the slow move up to $27.50 where major resistance sits.
This chart pattern is going to be one for the record books when it’s setup to break into new highs above $50.
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David's Commentary:
Gold and silver are insurance, not investments. Catch the bull market wave and the results can be stunning. Or heartbreaking on the way down. We’ve survived the way down and now, the metals are turning back up and just biding their time to break strongly out to the upside.
What is holding them back and how will it change? The Federal Reserve, JPMorgan and friends are holding it back. Many people think that JPMorgan is working side by side with the Fed to keep the prices in check. The government’s regulatory agencies are sitting on the sidelines and allowing massive interventions and manipulation without saying boo!
But – when one or more of the topics I mentioned in the opening unfolds and the price starts to move up rapidly, the computer-driven algorithms that buy and sell will all switch over to the buy mode, the big money hedge funds will enter the party and it will be impossible to slow down the Gold and Silver Express. They couldn’t stop it from increasing 7-fold (gold) or 10-fold (silver) from 2000 to 2011. They won’t be able to stop it this time either. All it needs is a bit of momentum to get the hedge funds buying again. They all follow the price and if gold and silver are the “go to” investments, the big money will be there in the forefront.
Kimble Charting Solutions thinks we are right on the cusp of a breakout. The mining shares traditionally lead the physical metals on the way up, and down. They are about to issue a buy signal…
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Mining stocks are facing an opportunity they haven’t seen many times in the past 8-years!
This 2-pack looks at the
Gold Bugs Index (HUI)
and the
Gold & Silver Miners (XAU) Index
over the past 12-years. Since the highs in 2011, both have created a series of lower highs and lower lows along each (1) line. The counter-trend rally the past couple of months has each mining index facing long-term falling resistance at each (2).
These resistance tests have happened a few times over the past 8-years, where breakout attempts have failed. If they would do something different this time and succeed in breaking out at each (2), both should attract new buying pressure and quality rallies should follow.
What mining stocks do here is one of the most important price tests in years!
David's Commentary:
Craig Hemke, is an analyst I follow and one whose views are very similar to mine. Here is what he has to say about the precious metals market and why he is convinced that gold and silver will reach all-time highs in the next 18 months.
The Make Believe Gold and Silver Scheme Is Going to Collapse
Was gold ever “fixed” or is the “fix” coming? We have to remember, this has been one massive experiment for the last 10-years. The Fed has been flying by the seat of their pants, and they have been ever since the market collapsed 10-years ago. The Fed began with QE-1, and that was supposed to be a one-of a kind event. That led to QE-2 and QE-3. For the past four years, they have been playing the “confidence game” – telling people that now things are just going to get back to “normal.” The interest rates are going to go back to normal, the Fed’s balance sheet is going to go back to normal, and they are playing that game to create “confidence.” We are about to find out this year and next that this was just an “experiment” and they are going to have to go back to cutting rates and they will go back to QE. The world is living off of money printing and liquidity. They can’t stop; you saw a little bit of what happened in December. They tried to stop and they tried to liquidate some of their balance sheet. The result was that the stock market plunged. The Fed had to reverse course. This is the new “normal” and this confidence scheme the Fed has been trying to implement the last four or five years is falling apart.
That’s what’s driving gold
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Read Full Article Here
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About Miles Franklin
Miles Franklin was founded in January, 1990 by David MILES Schectman. David's son, Andy Schectman, our CEO, joined Miles Franklin in 1991. Miles Franklin's primary focus from 1990 through 1998 was the Swiss Annuity and we were one of the two top firms in the industry. In November, 2000, we decided to de-emphasize our focus on off-shore investing and moved primarily into gold and silver, which we felt were about to enter into a long-term bull market cycle. Our timing and our new direction proved to be the right thing to do.
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