Richard Russell has made his subscribers fortunes. One of the best values anywhere in the financial world at only a $300 subscription to get his DAILY report for a year. HERE to subscribe. Amongst his achievements Richard was in cash before the 2008/2009 Crash and he has been Bullish Gold since below $300

Ed Note: Richard Russell is bullish Silver and holds one of the largest single positions he has held since the 1950’s in the precious metals.

Older subscribers may remember that I said that the Fed could continue its “quantitative easing” (printing money) until the bond market says it can’t. Below is a daily chart of the 30-year Treasury bond. The bond market doesn’t like what it sees. I view the pattern on this chart as a huge, down-slanting head-and-shoulder top with the bond sitting right on support. The bond appears weak, and if support is violated, interest rates will be heading higher. And that’s the last thing the Fed wants at this time.

I recently showed gold in a down-slanting “wedge” pattern. Such patterns usually resolve themselves to the upside, and that’s what may be happening now. Bringing the picture up-to-date, we see that gold has pushed above the upper trendline. This is a bullish indication.

Richard Russell – “Gold — I believe that gold is building a bullish structure above its downside support of 1,000. As I write April (the active month) gold is selling at 1094, only 6 points from the 1100 level. Gold topped on December 3, 2009 at 1218.30. Obviously, that is the upside target. If gold rises above 1218 it will have “gotten rid” of a lot of amateur traders and gold-haters. It will also be squeezing a large short position. I consider the current slow, measured upward action of gold to be positive and characteristic of bull market action.”
“Even the stupid, gold-hating central banks are buying gold. And what are they buying it with. The lousy fiat currency that they themselves are manufacturing. And how long will it be before those with gold won’t swap their gold for fiat paper? That’s the time when gold will go parabolic in the coming third phase.”

Richard Russell has made his subscribers fortunes. One of the best values anywhere in the financial world at only a $300 subscription to get his DAILY report for a year. HEREto subscribe. Amongst his achievements Richard was in cash before the 2008/2009 Crash and he has been Bullish Gold since below $300
Ed Note: Richard Russell is bullish Silver and holds one of the largest single positions he has held since the 1950’s in the precious metals.