Courtesy of: Visual Capitalist
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Tag: low
Why This Week’s Low is So Important
The Dow fell as far as it could possibly do without reversing the trend on a long-term basis even technically. The low this week has been 15370.33. This has flirted with our Third Monthly Bearish Reversal at 15550, but we have also a simple technical point of great importance – 15284. That happens to be last year’s low. Penetrating that number would open the door to a slide into March of 2016.
Consequently, penetrating this week’s low will be INCREDIBLY significant for it would set the stage for 2016 being an OUTSIDE REVERSAL TO THE UPSIDE and that would be just about the worse type of PANIC you could possibly create. WHY? Because this would imply a total meltdown in government and the rush of assets from government paper to private assets would be like a building on fire with all the doors locked except one.
US Mint Runs Out Of Silver On Same Day Price Of Silver Plunges To 2015 Lows
Submitted by Tyler Durden on 07/07/2015 14:25 -0400
In the aftermath of the latest breakout of the Greek crisis, Europeans across the continent, not just in Greece (even though with capital controls, potential deposit confiscation and currency devaluation they would have benefited by far the most), scrambled to buy physical gold and silver.
This is what the UK Royal Mint said a week ago, “During June, we experienced twice the expected demand for Sovereign bullion coins from our customers based in Greece.”
Other dealers had comparable experiences: “Most of our common gold coins are sold out,” Daniel Marburger, a director of Frankfurt-based CoinInvest.com, said by phone. “When people learned that the Greek banks will be closed, they started to think that it may not be such a bad idea to have some money in gold.”
GoldCore, which buys and sells bullion, reported coin and bar demand increased “significantly” on Monday. Sales to U.K. and Ireland today are about three times the average level for the past three Mondays, according to an e-mailed statement from the Dublin-based firm.
BullionVault, which operates the largest online physical gold trading platform, reported a jump in sales during the first half of this year, a sign of a broader increase.
Continue reading “US Mint Runs Out Of Silver On Same Day Price Of Silver Plunges To 2015 Lows”