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<p>[QUOTE=&quot;InfleXion, post: 1727986, member: 29012&quot;]I will first say that price can do anything, and fundamentals don&#039;t mean a whole lot in these markets.&nbsp; </p><p><br /></p><p>However, gold and silver are the most oversold they have been in this bull market. Last time that occurred silver rose from $10 to $49, and it&#039;s more oversold now than it was then. </p><p><br /></p><p>Gold net short positions broke all time record levels late last month [1]. However in the 2 weeks since then a staggering 40% of the silver short positions have been unwound [2]. This is extremely bullish in that it showcases a rapid change in sentiment by the big players now positioning for an up move. I realize silver is not gold but they tend to move together. </p><p><br /></p><p>Registered gold inventories (available for delivery) on the COMEX have reached record lows from 2003. Physical metal is changing hands at an unprecedented pace, and if it persists then supply will have to come from somewhere else. Granted the eligible gold inventories are not at record lows, but those aren&#039;t available for delivery either. </p><p><br /></p><p>If I were to make a guess I do not think these prices will last until August. There is a lot of pressure building. We may yet see lower prices but in the grand scheme I believe that hindsight will show that now is the time to buy. Whether we see $18 or not, I think $22 will look darn good when the lid pops off this thing. </p><p><br /></p><p>1) <a href="http://www.mineweb.com/mineweb/content/en/mineweb-gold-news?oid=191937&amp;sn=Detail" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.mineweb.com/mineweb/content/en/mineweb-gold-news?oid=191937&amp;sn=Detail" rel="nofollow">http://www.mineweb.com/mineweb/content/en/mineweb-gold-news?oid=191937&amp;sn=Detail</a></p><p>&nbsp;2) <a href="http://www.stockhouse.com/bullboards/messagedetail.aspx?s=FR&amp;t=LIST&amp;m=32676811&amp;l=0&amp;pd=0&amp;r=0" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.stockhouse.com/bullboards/messagedetail.aspx?s=FR&amp;t=LIST&amp;m=32676811&amp;l=0&amp;pd=0&amp;r=0" rel="nofollow">http://www.stockhouse.com/bullboards/messagedetail.aspx?s=FR&amp;t=LIST&amp;m=32676811&amp;l=0&amp;pd=0&amp;r=0</a>[/QUOTE]</p><p><br /></p>

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