The resistance prices have been breached

You have recalled that I mentioned about the metals having a distinct behavior of going against a "wall" or "resistant" or "ceiling" price for awhile before continuing its bullish ways. This behavior in the prices have been observed by long time fans of precious metals since it was neglected by sophisticated investors.

If you have navigated the price bar of the metals on the left side of the blog, then you may have observed that silver is on its bullish ways again, after hitting the 35$ per ounce price wall for a few months. Well, gold is another story since it is the premiere metal of choice especially in this shaky financial environment that the US has dug itself in. In 2008, Gold was roughly 900$ per oz and I was exclaiming to myself that that was a great amount to be investing funds in, look at it now, my investment just took on a 100% appreciation since then.

Here is Robert Kiyosaki's take on this, which he posted in his Conspiracy of the Rich website:

"Online Exclusive Update - #97
August 19, 2011

Wait for the Crash
I just got off the phone with my friend, Richard Duncan. He is the author of The Dollar Crisis and the Corruption of Capitalism. These are must read books.

Richard is an American who now lives in Thailand. He’s worked for the World Bank and the IMF. In my opinion, he’s the smartest economist in the world. It’s due to his books and speaking at Rich Dad events that I have a better view on the world, its current problems, and the future.

Richard and I spoke in L.A. a few months ago at a Rich Dad Education event. We came to the same conclusion: once the Fed’s second round of quantitative easing (QE 2) ended in June, the economy would contract. Today, this is happening, causing the wild swings in the stock market.

We also forecasted that the Fed would wait for the pain to get intolerable and then would reenter with a third round of quantitative easing. Simply said, the Fed will wait for us to beg for the poison that is killing us… more counterfeit money.

The good news is that if the Fed does wait for us to beg, prices will collapse. This means gold, silver, and oil will come down in price…maybe. In other words, wait for the pain to bring down prices before chasing the high prices of gold and silver.

I’ll share more from my discussion with Richard later on in further COR updates. As you know there’s a lot going on, and this is no time to be passive. Things are changing too rapidly, and one mistake could spur the New Depression."


This is not good for those who continue to shrug off the power of the metals in hedging wealth. Get some for yourself while there is still time!