Trader Jones on Gold and Silver

Veteran gold and silver trader Jones comments on the need to own gold and silver coins in lieu of paper money:







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"The average American doesn't know what money is, the average Brit, average Aussie, anybody in the west."
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"... the thing about this money is that it holds its value."
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"... only about 5% is paper money. The rest are computer entries."
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"... most Americans have never held a gold coin. Don't even know what it is. ... gold. Solid honest money."
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" ... The Chinese ... in asia are buying gold with both hands. They're accumulating dollars and buying gold."

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Don't expect to later on buy gold and silver when ever you want and in what ever quantities that you want.

Good Silver Price Signals

Silver is generating some good price signals:

Besides making what is probably a double bottom to this reaction, the right hand bottom is lower than the left hand bottom. Good, a stronger last shake out of the weak longs hopefully. On top of this, the right hand bottom made a 2b end of downward trend signal. This would apply to the short about 3 week down trend that just happened. The silver price moved above the previous low of the first week of April within 1- 4 days of making a new low.

On top of the double bottom and the 2b, the equal spacing tool indicated an important time period at the beginning of May. It looks like a significant bottom has happened.







2, 3, 4 years from now, 20 dollar silver is going to look ridiculously cheap.


Silver will never go out of style. Go ahead. Click on the Mercedes!