Gold and silver down again...

Whenever the public gets in a frenzy about silver or gold, one way or the other, look for it to turn the other way. The problem is of course are you part of the public?

My two bits, worth a wooden quarter, is that silver will be below $10 before the year is out...so you can now bet it will be over $20 before the year is out. LOL

 

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Or if that super-volcano underneath Yellowstone Park erupts, a bucket full of gold coins wouldn't buy a book of matches.

 

I guess time will tell, even after this last legendary smash down it's inching up above $1100.

 

I'll sell you my matches for a bucket of gold coins.

 

You can look for a frenzy in anything, including the dow squirrel cage, to turn sooner or later.

 

Gold/silver dropping vs $ isn't anything that keep me up at night. If anything the strong dollar is as much to blame as anything. And yes, I'm expecting the dollar to go supernova... That'll eventually result in new bottom lows for PM but only for a short while.
On the international stage I'd recommend keeping any eye on Germany, Turkey and Saudi Arabia. Greece is just a side show as well as Ukraine. The only support the U.S. is experiencing around the globe is from politicians. The people is getting more and more disillusioned and any previous support is waning fast. Media will only be able to prop things up for so long.

 

A month has passed and gold is back in the $1100-$1200 range.