The precious metals have been in a 2-year trading range. Though gold rose 10.2% in 2011 and 7.0% in 2012, these rates are below the 16.8% average annual appreciationgold has achieved over the past twelve years.

Importantly, by being in a trading range, it is clear that the precious metals have refused to break lower despite repeated attempts by the gold cartel that occasionally gave the precious metals a severe pummeling.…

November 14, 2010 – Silver’s short-term uptrend remains intact, notwithstanding silver’s big price drop on Friday. The fundamental factors driving silver higher have not changed. The outlook for silver remains very bullish.

There has been no damage to silver’s technical condition. For example, silver is above its 21-day moving average. Also, silver remains well above $25, its last major resistance level.…

Since observing in my September 22nd commentary that the US Dollar Index is “staring over the edge of the precipice and is ready to plummet”, it has been basically all downhill for the dollar.  The Dollar Index over the past seven trading days has dropped 1.74 points, or 2.18%. …

Inflation is coming back.  In fact, it never really left, although there was a brief moment after the Lehman Brothers collapse when it appeared that the dollar would slip into a deflationary collapse.  But after peering over the precipice, Bernanke and his central bank cohorts around the world did not like what they saw. …

If someone were manipulating the silver market, you would see exactly what has actually occurred in silver over the past several days.

To manipulate the price you would use your buying power and accumulate long positions until you force silver above resistance in the high $18.40s and thereby trigger all the buy-stops sitting there, including the one we placed. …