Melman on Gold & Silver
November 2014 by Leonard MelmanI find it difficult to recall a period when the world has encountered so many simultaneous threats which “should” have driven gold and silver higher, and yet the precious metals markets—so far—have failed to rally to any significant extent.
Next, all of silver’s chart action since mid-2011 has taken place under a declining trend line (dotted line), which has held for more than four years. Any trendline of that duration must be taken seriously.
Only one word truly describes the greatest source of headlines during the past month and that word is “politics.” With the November 6 Congressional and Presidential elections drawing ever closer and with both party’s conventions having been recently concluded, we take a serious look at the political situation below.
We have heard much “tough talk” through the years regarding reining in the regulatory excesses of government agencies in the past, but little action has followed those words. Perhaps we will finally see a genuine move away from excessive regulation.
One of the most surprising jolts of the past month came with the decision of the Supreme Court upholding the legality of what has come to be known as “ObamaCare.”
If we watch the action in six important markets, then we must conclude that there is, indeed, cause for deep concern.
The Bawl Mill • Gemstones to Die For • The Dredge Report • Guinea Africa: Gold, Ebola, and A Monkey Barbecue • Geobotany: Plants Associated With Mineral Deposits • The Hunt for Remote Canyon Gold • Why Did This Silver Mine Close? Pt II • A Golden Summer • California State and US National Panning Championships • Mining Stock Quotes and Mineral & Metal Prices