Friday, January 17, 2014

Gold Logs Highest Close in More Than Five Weeks; What's Next for Gold?

Gold is up more than $59.00 per ounce since its December 2013 lows. Who knew that gold would start off so strong with the new year? EPJ Daily Alert readers, that's who:

From the December 9th ALERT:

I am putting a major recommendation out to buy gold  (and silver) and gold stocks aggressively between now and the end of the year.

It should be remembered that I was among the few that at the first of the year (2013), I warned to expect downside price action in gold. My reasoning for the downside was that stocks would be strong and that hot money would move from gold to equities. Indeed, that is exactly what happened this year. I now believe that hot money is out of gold. In the coming weeks, there may be some tax loss related selling in gold, but that will stop before the end of the year.

For long term investors and traders, I am advising that gold and, especially for traders, gold stocks be aggressively purchased right now.

From the December 10th ALERT:
As I write, gold is up some $30 an ounce today. At 08:07:45ET a 3,000 gold futures contract buy order even caused the futures market to be briefly halted.The order pushed the price up $10 and tripped circuit breakers for 10 seconds.

I don't believe this is the start of the gold spike. I expect that to start around the first of the year. Currently, the market is just very oversold in the very short-term. That said, you should start accumulating your gold and silver bullion and stock positions now. It makes much more sense to be a couple of weeks early than even a day late.

From the December 23rd ALERT
Goldman Sachs predicts a "significant decline" in gold in 2014 and Society Generale says gold’s safe-haven role is now over.

It is times like these when aggressive positions should be taken in an investment, if you see the facts differently---which I do with regard to gold. Indeed, I fully expect a spike in gold right at the start of the year. Continue to aggressively buy gold, silver and gold stocks, not only for the short-term spike but also for major long term appreciation.
There will be much volatility in all kinds of markets in 2014. Find out what I have to say about gold, silver, interest rates, the stock market and real estate by subscribing now to the EPJ Daily Alert:

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  1. Ahahaha. Good work as always Bob.

  2. I subscribed to the newsletter around December 1, and have done very well so far, following its recommendations, and there are several other valuable recommendations in the newsletter in addition to just buying gold, which have gone up as much or more.

  3. "Gold Logs Highest Close in More Than Five Weeks; What's Next for Gold?"

    In a related story the United States Treasury has begun to cast 99.999 fine gold into logs. Treasury spokesman Paul Bunyan confirmed that besides Gold Logs, the Treasury was actively investigating other formats. "We've been doing American Eagle coins and gold bars for ever, and it's, well, getting really boring. Beside, logs are much easier to drill and fill (wink wink). We figure by the time the Germans and Chinese catch on, they'll have the largest supply of gold-plated tungsten in existence."

    When asked about other formats under consideration, Bunyan offered, "Well we're looking into the solid gold American Buffalo Chip, the U.S. Mint Gold Screw, and the oversized Commemorative Obama Gold Suppository to refill the Gold repository..."