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The definition of fickle is “unsteady or changing frequently”; and no term better describes the herd mentality of Precious Metal buyers.  The reasons for such instability are myriad; but principally, Cartel suppression that keeps the “dumbed down” public from understanding gold and silver supply and demand dynamics.

As PMs are smashed essentially every time they should rise – according to traditional fundamental, technical, and seasonal factors – it makes it nearly IMPOSSIBLE to figure what’s coming next.  And hence, sentiment is consistently weaker than it would be in a freely-traded market.

That said, the long-term trend is up – as evidenced by gold rising 12 STRAIGHT YEARS; yet, still underperforming silver…

Unfortunately, the “unwashed masses” have been PROPAGANDIZED to believe “dollars” are money and gold a “barbarous relic” – despite dollars demonstrating essentially none of “money’s” traits…

These opposing forces are amidst a decade-long WAR for superiority; with TPTB fighting “tooth and nail” for fiat currency, and REALITY for PMs.  Of course, the END GAME is “set in stone”; with only its timing in question…

Research Shows ALL Paper Money Systems Failed

…which no amount of analysis from the “good guys” – or manipulation from the “bad” -can determine, given how FICKLE sentiment is…

In my August 14th piece – “GOLD SENTIMENT 101” – I compared the number of hits on my SGT Report podcasts to the gold price; clearly depicting a strong correlation.  While not 100%, the gold price clearly plays a big part in PM sentiment; not to mention, Miles Franklin’s sales.

Notwithstanding, I keep focusing on my February 23rd podcast, which has received more than 35,000 hits.   Not un-coincidentally, it was published six days before the Cartel’s infamous LEAP DAY VIOLATION”; when, at EXACTLY 10:00 AM EST, with only an innocuous Bernanke speech as “cover” – gold was SMASHED for $100/oz…

…and silver, for $3.50/oz…

Yes, both metals had significantly recovered from the Cartel’s vicious “OPERATION PM ANNIHILATION I” (September) and “OPERATION PM ANNIHILATION II’ (December) attacks, to reach their high points of the year.  However, neither were near their August 2011 highs of $1,920/oz…

…and $44/oz, respectively; thus, the million dollar question is WHY was sentiment so much higher in February than later this year, when gold essentially reached the same $1,800/oz level?

In my view, two major factors kept the “wolves at bay” this Fall.

For one, February sentiment was buoyed by the fact that MASSIVE “reverse head and shoulders tops” in both metals were on the verge of breaking out, per the above charts.  Secondly, EVERY election year seems to bring enhanced PM suppression…

…and given that I agree whole-heartedly with James McShirley’s convictions below, it’s pretty clear this election year was no different…

The year 2012 will (so far) go down as probably the most heavily suppressed gold year ever. As in physics there should eventually be an equal, and opposite force to the intensity of this suppression. We all wait for that blessed moment.

Again, I cannot emphasize enough that the long-term “trend is our friend”; with gold and silver prices dramatically below their “equilibrium levels” care of the aforementioned Cartel suppression.  Thus, the wise investor continues to acquire PHYSICAL gold and silver throughout the market’s ups and downs; knowing full well “THAT FICKLE THING CALLED SENTIMENT” will eventually “flock our way.”

PROTECT YOURSELF, and do it NOW!

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