As regulars know, I do NOT engage in the silly game of making short-term predictions in this sector. All that does is make US commentators look bad - while playing with the emotions of readers.

So I'm noting this "prediction" from most of the mainstream experts for "higher gold prices next week" just as a reminder that only a couple of weeks ago the SAME experts were "predicting" that gold was headed LOWER - down to around $1550.

Again this shows the vacuous, blow-with-the-wind mentality of these people. The lemmings stampede in one direction one day, wake up the next and stampede in the OPPOSITE direction. And they see NOTHING odd about such behavior...



What we need to do as discriminating readers is to IGNORE the "noise" - i.e. all of their predictions and fake-fundamentals. Rather (as I have noted before) the only value of their droning is in looking for CLUES and "reading between the lines".

Have they contradicted themselves AGAIN? And if so, what does that tell us? More generally, we watch for one particular theme: evidence that the SHEEP are believing the LIARS less. And as I have noted recently, last week in particular provided us with a very good example of that.

The sheep IGNORED the High Priest of Money-Printing - B.S. Bernanke himself. He said the printing-press is shut down for good. THEY bid the price of gold up DESPITE his words. Note also that "jawboning" is all the Fed has left to influence the markets 0 other than its secret/illegal counterfeiting of USD's. WHEN the sheep ignore the Fed there is NOTHING to hold back gold and silver.


"Strong Majority Of Survey Participants See Higher Gold Prices Next Week"

www.kitco.com/kgs/goldsurvey_april27.2012.html

Most participants in the Kitco News Gold Survey are calling for gold prices to rise next week, based on this week’s strong performance.

In the Kitco News Gold Survey, out of 33 participants, 26 responded this week. Of those 26 participants, 21 see prices up, while three see prices down, and two are neutral. Market participants include bullion dealers, investment banks, futures traders, money managers and technical-chart analysts.

Many of the survey participants who see higher prices for next week cite gold’s rebound since Wednesday’s Federal Open Market Committee meeting. Initially gold prices fell when the FOMC did not announce any new stimulus program, but prices rallied after traders realized the Fed is open to other measures down the road and that rates are already ultra-low.

Technical-chart patterns are considered supportive for a rise for gold next week. Spencer Patton, founder and chief investment officer of Steel Vine Investments, echoed what several survey participants said. “Gold has tested support more than four times around $1,620 and bounced strongly each time. It's time that gold tests $1,700,” he said.

The U.S. dollar is also a factor in gold, said Ira Epstein, director of the Ira Epstein division of The Linn Group. Gold has had a “technical breakout to the upside. As long as the U.S. dollar stays under pressure, gold will respond in a positive manner,” he said.

Those who see weaker prices said the euro will likely weaken again versus the dollar, which will cap any rallies in gold.

Those who are neutral on gold said they sit on the sidelines waiting for a stronger trend to develop.

Well let's hope.

Here is my prediction and don't forget that you read it here first. Gold price might go up, but it could go down.

"It's always the darkest before the dawn."

(That's more "contrarian" talk. )

Seb,

You'd make the PERFECT weather man.

Tomorrow, Clear to Partly cloudy, Sunny with a chance of rain.

Have a great week-
Earl

Thanks Earl, except on the Wet ( West ) Coast weather forecasts are usually something along the lines of "It will probably rain, but there is a slim chance it might not rain all day.". Seldom do we actually hear any mention of Sun except in August sometimes.

Have a nice week too, fingers crossed that Jeff is right.

We can all have a good laugh at the "higher gold prices" the banksters told us to expect this week with today's edition of The Daily Grind:


www.bullionbullscanada.com/bulletin-boar...0&start=40#17880

Hasn't happened yet!!

Seb remember this is all about winning the "war", and not simply winning any particular battle. Would it have meant anything if gold prices HAD been solidly higher this week? No.

As we've already seen on more than one occasion, the banksters have shown the capability to drive the price of gold down by $100 in a single day with their illegal manipulations. So even if gold had clawed its way $50 or $60 higher that is nothing but market NOISE - given that it could all be lost (and more) in a single day.

Rather, what is of paramount importance is SENTIMENT. That's why the propaganda machine is cranking out MORE anti-gold propaganda at the present time (and more RIDICULOUS propaganda) than at any other time since I began following this sector. It REEKS of desperation - since THEY know that once sentiment turns they will be POWERLESS.

Focus on the economic numbers and the MOOD of the sheep. THAT'S what is important. IGNORE the day-to-day moves in the price of gold. THAT'S what the BANKERS want you to watch.

OK Jeff, it is just that the day to day numbers become the week to week numbers which become the month to month numbers, none of which are going anywhere. One can only hope that they do not become the year to year numbers.

Seb1 wrote:
...One can only hope that they do not become the year to year numbers.


No Seb, you have it quite backwards. The HOPE would be that the price of gold COULD stay stable year-to-year, as that would indicate that things are NOT totally falling apart.

I don't HOPE that the price of gold and silver (and many other things) is going to shoot through the ceiling (i.e. our CURRENCY is going to zero) - I FEAR it !!