Watch Out, "Bull Market Ahead" - Seven Key Gold Charts

GoldCore's picture

Today’s AM fix was USD 1,241.00, EUR 912.63 and GBP 754.68 per ounce.
Yesterday’s AM fix was USD 1,237.25, EUR 908.61 and GBP 757.19 per ounce.

Gold climbed $1.90 yesterday, closing at $1,240/oz. Silver slipped $0.12 closing at $20.10/oz.

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Gold bars (1 oz) premiums are between 4.75% and 5.5% and are trading at $1,309.36. Gold bars (1 kilo) premiums are between 3% and 3.5% and are trading at $41,301.81. Premiums are steady.

Gold is marginally lower today after gaining yesterday on the U.S. inflation data that showed that the cost of living in the U.S. increased by the most in six months. This increased the appeal of gold as an inflation hedge.

Deutsche Bank announced today that it will withdraw from gold and silver benchmark setting, or the London gold fix process but remains “fully committed to our precious metals business.”
The bank is just one of the five bullion banks involved in the twice-daily fixing for gold price setting. Deutsche Bank plans to sell its gold and silver fixing seats to another member of the London Bullion Market Association, said a source. The bank says it is scaling back its commodities business.

The timing of the move is interesting as at the same time Germany’s top financial regulator, Bafin, has interviewed employees of Deutsche Bank AG as part of a probe of potential manipulation of gold and silver prices. Deutsche will be aware that the Libor-rigging scandal led to fines of about $6 billion.

Yesterday, Bafin said possible manipulation of currency markets and precious metals prices is worse than the Libor rigging scandal.

Elke Koenig, the president of Bafin, said in a speech in Frankfurt yesterday that the allegations about the currency and precious metals markets are “particularly serious, because such reference values are based -- unlike Libor and Euribor -- typically on transactions in liquid markets and not on estimates of the banks.”

Germans are the largest buyers of gold in Europe and in the western world due their experience of hyperinflation in 1922 and currency devaluation and economic collapse after World War II.

Many German banks in most German cities deal in gold coins and bars over the counter. If gold prices have been manipulated lower in recent months contributing to the 28% fall in prices in 2013, then the many gold buyers in Germany, not to mention buyers internationally, have been victims of this manipulation.

The strong line the German financial regulator is taking regarding manipulation of precious metal prices may be due to tensions between Germany and the U.S. over the significant delays in the repatriation of Germany’s gold reserves from the U.S.

Gold and silver manipulation “conspiracy theories” are becoming more conspiracy fact by the day.

Seven Key Gold Charts - "Bull Market Ahead"
Often “a picture paints a thousand words” and the seven key gold charts below should make gold bears nervous. The charts were compiled by Nick Laird and emailed to us Wednesday night. is a great website for charts and well worth the subscription. 

The seven gold charts suggest that there is a “bull market ahead”, as Nick says. Again, we may see some further weakness in the short term but the outlook is good for 2014 and the coming years.

So without further ado, lets look at these important gold charts.

Gold Chart 1 - The banks are long gold ...


Gold Chart 2 - Gold stocks are being withdrawn ...


Gold Chart 3 - Supplies are being held back ...


Gold Chart 4 - COT Data shows that banks and others are positioned perfectly for a bull run to start ... 


Gold Chart 5 - Pivot point time - double bottom ...


Gold Chart 6 - Never been a better buy …


Gold Chart 7 - Just bounced off one of it's most oversold phases ...


Silver Chart - Silver double bottom...


Palladium Chart - Time to breakout  ...


Platinum Chart - Time to get out of it's funk ...

Sentiment is as bad as we have seen it in the precious metals market. As the charts show, such sentiment, price action and oversold conditions tend to coincide with major lows in gold and silver prices and multi month price gains. 

Very poor sentiment towards gold and oversold conditions is reminiscent of the conditions seen in  late 2008 and January 2009 when gold prices had fallen by more than 25% in 9 months.

 Gold in US Dollars - 6 Years

Subsequently, gold rose from a low on January 15, 2009 at $802.60/oz to a high less than 12 months later at $1,215/oz for a gain of over 50%.  A similar move today would see gold above $1,800/oz by year end.

We believe similar gains may be seen in the coming months and years. Investors should position themselves accordingly.


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LoveInflationLoveVolatility's picture

Something's going on for sure premium on 1 gram gold futures is reducing 1.5 months ago it had reached 27% at the moment it stands at 19.55% is indian demand for gold slowing or is paper price of gold on COMEX catching up?

jballz's picture



Oh look Goldcore is bullish.


magine that.

what is event the point of wasting space on analysis from people whose analyis never changes.

Jesus could fall out of the sky and tell the world to sell all their gold and these asshats would call it a buying opportunity.



akak's picture

Oh look, ballzinmouth is here once again (for the 857th time) to troll against gold.

Imagine that.

What is even the point of wasting space on analysis from people whose analyis never changes?

Jon Nadler himself could fall out of the sky and tell the world to buy gold and these asshats would call it a selling opportunity.


HeavydutyMexicanOfTheNorthernKingdom's picture

August 25, 2017 Silver will be 115.40 an ounce.

jc125d's picture

You say:"If gold prices have been manipulated lower in recent months contributing to the 28% fall in prices in 2013, then the many gold buyers in Germany, not to mention buyers internationally, have been victims of this manipulation."

Those many gold buyers benefited from those manipulated low prices then. How were they victims? Keep those prices low a little longer then, you dirty rotten scoundrels!

Aussiekiwi's picture

Chart 5 shows a large drop in the price of Gold through out 2008 as markets tanked, is this bull run in Gold for 2014 dependent upon the stock market not dropping in 2014?....or is it a case of this time its different and Gold won't drop if the markets drop?

If you are expecting the markets to crash, wouldn't it make more sense to buy Gold or Gold producer shares AFTER the crash rather than before?

Theosebes Goodfellow's picture

Mmmmm! Chart porn!



(I'm touching myself now...)

WhyWait's picture

I've been following these breathless reports on the gold markets for a while, starting to buy into the conclusion that they are of great significance at this moment of history.  Yet Charts 2 and 3, scary looking as they may be, describe the depetion of stocks whose total value never exceeded $20 billion US, and which now amount to about $10 billion. Momentous for gold investors perhaps, but very small when compared to the global economy, any way you measure it.  

Can someone argue the case again?

MeelionDollerBogus's picture

Indeed. For gold holders the move will be immense, in time, but this is actually a de-valuation of everything that is paper. Land, gold, oil, food, medicine, highly skilled workers - all that will be priced way up in fiat & in time... there will be no fiat to price anything.

That's where the rest of the market is missing that you're looking for. We do need gold to trade but for something else and that's what you're looking for.

fijisailor's picture

Au closed at $1259.40.

superflex's picture

We did close above 1250 today.

Gold manipulation bitchez!

Tim_'s picture

COMEX Silver Stockpiles

Why do they only show charts for gold? COMEX silver stockpiles are higher now than at any other time in the last sixteen years.

SAT 800's picture

Big "unexplained" move upward very fast in Silver today; how come no one is complaining about the "manipulation".

MeelionDollerBogus's picture

sorry, missed my cue - forgot my coffee this morning.

RafterManFMJ's picture

Synopsis: blah blah blah buy gold blah blah have faith

A. Magnus's picture

The Shanghai gold exchange moved 79 tons of gold in the second week of this year. That's more than many countries move in a whole year. Sit tight, get yourself some popcorn and sit back and watch the coming fireworks...

cro_maat's picture

Did 12.5 tons of that have swasticas on them? Germany wants to know.


Those gold bars would have been marked by the Bundesbank not the Reichsbank.

BTW its spelled Swastika.

"Those who fail to remember the past are condemned to repeat it" Santayana

Theosebes Goodfellow's picture

Einsilver is right. Anyway, those bars in question are in New York. No really! Just ask the Fed! They're shipping them back to Deutschland in about six, five, four... er.., any year now.

Fuh Querada's picture

Please spare us the "technical analysis" bullshit: fancy trendlines that mean bugger all - and moving averages that signify precisely NADA.

Theosebes Goodfellow's picture

Headline from Wisehiney's link:

~"Neither Runaway Inflation nor Deflation are Imminent Threats"~

Really? I'll venture those are the two things we are absolutely guaranteed to see in the near future. And it will be a one-two sucker punch to boot. First you get deflation followed right after with spiraling inflation. If you think the Big White Ghetto is a mess now, just wait until this poop impact the impellers.

wisehiney's picture

Yep, a little deflationary scare to give them cover FLAME it up.

TheReplacement's picture

Anyone who doesn't understand that this is all intentional after reading that is Crazy, Retarded, All of these, Stupid, or High.

Queue: Bitcoin Uber Religious Nuts