Go figure. How many times in the last 5 or 10 years have you thought to yourself that because of national or world events, the metals “have to go up”, or “have to go down”, and they do exactly the opposite?
Case in point, yesterday brought more terror through bombings and more fear in Europe and around the world. Shouldn’t there have been a safe haven flight to the metals, as people wonder what the next target will be – financial, communications, political or other?
Shouldn’t there ‘logically’ have been an increase, at least some modest increase, in safe haven assets? One would think so. However, if anyone bought the metals yesterday under this guise, they are being crushed today. Those with short positions are cleaning up (would anyone logically have been short?) at the expense of the long buyers of yesterday.
There’s something wrong with this picture.
What you suspect to be true is true – there are no pure markets. Can we fight it? Not really. Will the deception and manipulation eventually be exposed? Yes. All lies, sooner or later, are uncovered.
Fighting against the forces in the metals market only leads to frustration. Go with what the market presents you on any given day. Make sure you are accumulating the amount of metal you want. Average in over time. Take advantage of dips. Don’t fret over a few dollars one way or another on the spot price.
The day will come when the market is purged of the manipulation. At that point you will want to have made certain you already accumulated your desired position, because if not, it will then be too late.
All Things Considered – John’s Commentary:
While markets are illogical at this point, remember that these consolidations are positive for physical metals buyers. We WANT the metals to consolidate in order for future price increases to be solid and not unstable.
Keep a long term focus in mind, not daily or weekly.
