Silver maybe more than anything is a time bomb waiting to explode. You rarely get a prettier (and longer) basing phase than this one. This is the kind of base that can generate a monstrous move once the breakout occurs.

There are two schools of thought right now, and both sides are firmly convinced they are correct. The bullish case: Gold started a new cyclical bull market in late 2015. The bearish case: The bounce out of the 2015 bottom was just a counter trend bear market rally, and at best gold is stuck in a long sideways channel similar to the 1980-2001 period. While I have to admit there is a lot of compelling evidence to support the bearish scenario I’m not convinced that is correct.

Gold needs about $10 more to tag the triangle trend line.

Gary Savage takes a look on what might be in store for gold over the next month, by the march FOMC meeting.

Gary Savage looks at the cycle structure of the precious metals market.

Zero interest rates are causing financial instability.

The dollar rally out of the 2014 3 YCL has fooled everyone into thinking the dollar is strong and the euro is going to collapse. So everyone is now on the wrong side of the market. That’s pretty much how every bear market starts with everyone on the wrong side of the boat.

The dollar will rally for 6-8 weeks while gold heads lower. Gold has decisively broken down through its 200 dma. Traders are in a bull market mentality and will try to buy gold’s dips until sentiment becomes bearish.

Gold has closed below its intermediate uptrend line. This is the first confirmation that a larger intermediate degree decline has begun.

Gold’s intermediate cycle low is still 6 to 8 weeks away.

It’s time for oil to rally a bit and for gold to move down into an intermediate cycle low.

The banksters, by manipulating the price of gold and artificially creating a bear market, have created what will likely turn out to be one of the greatest opportunities ever seen.