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Gary Savage

Gary Savage Articles

Intermediate decline in progress. I would even suggest that we are in the bloodbath phase, this is when you see selling panic hit from the traders. Perma-bears will come out and start making incorrect calls.
I am pretty confident that we are about to break the manipulation. Virtually every commodity has been going nuts to the upside up since March of last year, what possible reason has gold been stuck?
The intermediate top in the US Dollar looks to have been achieved. The US Dollar market is doing the opposite of what logic dictates. The problem is of course is that the Dollar has been pricing this in for several months.
Looks like the manipulation in the Dollar is starting to break. I am not fond of mining stocks just yet, but I am watching the gold price to see if it can break past the manipulation here. First line in the sand is around $1,830-$1,835...
Some possibility that we concluded our daily & intermediate cycle low. I expect this to be a 5-8 day rally. $1,835 is the line to break, if gold breaks this then I will change my mind…
Maybe get a bottom today, or FOMC on Wednesday but watch out for options expiration on Friday. Either way, we have all the signs that we are near the bottom.
Embedded sell signal in mining stocks for now. Here's our problem for gold: The price needed to retest the previous intermediate cycle highs...
I tried to warn gold bugs that this was likely to happen, that the intermediate cycle was getting late. This last rally failed short of making a new higher-high. The rally did not do what it needed to do. Gold is not just ready yet to "go...
I'm still a bit skeptical that the handle of the cup-and-handle formation is finished. Not just yet. Gold has to break the $1,920 area high, which gold could potentially do on this pretty powerful move.
Gold market is not an easy market to make money in. Up a little, down a little. Almost impossible to make sustainable gains right now. Virtually impossible to time the tops and bottoms during this churning stage.

The 1849 Gold Rush sped up California's admission to the Union as the 31st state in that year.

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