Gold and Silver: Steps to Take RIGHT NOW!

Gold remains weak, right on target with my cycle forecast. Ditto for silver. So the questions are: Are we near a bottom? Are we there yet?

I can’t tell you precisely what price the low will be. No one can. All I can tell you is that …

CheckmarkTiming-wise, we are very close to what could be the final low in the precious metals in their now almost five-year-long interim bear market.

CheckmarkPrice-wise, we are also very close. As I’ve told you before, long-term support levels come into play between roughly $935 and $1,035 in gold. Gold is at $1,063 as I pen this column. In silver, the long-term support levels are scaled in from $13.35 down to $12.00.

That said, right now, there are three steps I believe you must implement, immediately:

1. Build up your cash for buying precious metals for the long-term. Everyone should own some gold as insurance against the upcoming collapse of the global monetary system.

Are we there yet?

As sure as I know who my mother and father are, the global monetary system will collapse within the next few years. So will the governments of Europe, Japan and the United States.

You simply must have the insurance that gold can offer you when that happens. The price of gold will soar to over $5,000 an ounce.

So be sure to have plenty of cash on hand to buy gold and silver. Specific recommendations will be found in my Real Wealth Report.

2. Get ready to also start loading up on mining shares. They too should soon bottom. And they too have explosive profit potential. But as I have recently written, you’re going to have to be very selective when buying mining companies this time around.

3. Be ready to speculate in the precious metals markets with your risk capital. More money will be made in the precious metals markets in the next few years than in the 1975 to 1980 and the 2000 to 2011 bull markets in gold and silver.

“Be sure to have plenty of cash on hand to buy gold and silver.”

In fact, it will likely be the last major bull market in precious metals in our lifetimes. Do everything you can to take advantage of it!

Stay tuned and best wishes,

Larry

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Other Developments of the Day

BulletIn global news, the U.S. embassy in Kabul on Monday warned of an imminent attack in the Afghan city, citing credible reports of a threat within the next two days, but had no other details, Reuters reports. “U.S. Embassy Kabul has received credible reports of an imminent attack in Kabul city, Kabul province, Afghanistan within the next 48 hours,” the embassy said on its website.

BulletAuthorities in Germany are becoming increasingly concerned that newly arrived refugees from Syria and elsewhere in the Middle East are being recruited by radical Islamists once they arrive in the country. The Wall Street Journal reports that an increasing number of refugees are attending services at mosques that investigators believe attract extremists. At the same time, Chancellor Angela Merkel held a surprise meeting Sunday with a number of European leaders willing to take in greater numbers of refugees, according to German national daily Frankfurter Allgemeine Sonntagszeitung.

BulletOn the sports front, superstar basketball player Kobe Bryant said that he will retire after this season, ending a career that started as a 17-year-old who joined the NBA after his high school days. “My body knows it’s time to say goodbye,” Bryant said in a website posting. Bryant, 37, is having an offseason, with his shooting percentage just a bit above 30%. “It’s tough. 20 years. Legs aren’t what they used to be,” he said. “You just continue to fight through it. . . .”

BulletAutomaker Ford Motor Co. (F) said its labor costs will increase about 1.5% a year over the next four years under its new labor agreement with the United Auto Workers. That’s less than the company’s forecast rise in inflation over the period. Ford also said it will take a $600 million charge in the fourth quarter related to the contract. Workers will each receive a $10,000 bonus this year under the contract, which covers 52,900 U.S. hourly workers.

BulletToday is Cyber Monday, which is celebrating its 10th anniversary (how time flies!). Some 121 million Americans are expected to do their buying online today. The celebration of online shopping began with a press release put out before Thanksgiving in 2005 by the National Retail Federation’s Shop.org trade group, proclaiming, “Cyber Monday’ Quickly Becoming One of the Biggest Online Shopping Days of the Year.” What has been your Thanksgiving shopping experience this year? Did you take advantage of the Thursday evening shop openings? Black Friday? Small-Business Saturday? How busy were the shops? Did you shop online instead? Or did you just live your life like normal and avoid all the hype?

Drop down below to add in your views on these or any other matters.

Larry Edelson, one of the world’s foremost experts on gold and precious metals, is the editor of Real Wealth Report and Supercycle Trader. Larry has called the ups and downs in the gold market time and again. As a result, he is often called upon by the media for his investing views. Larry has been featured on Bloomberg, Reuters and CNBC as well as The New York Times and New York Sun.

Comments 56

Nick November 30, 2015

Hi Larry, Do you recommend buying physical silver coins?

IAN LYON December 1, 2015

The 1ounce Kookaburra 99.99% (yes that's right) silver coin from the Perth Mint was selling for A$637 for 25 coins early in November. It is now at A$590 and will keep going down until silver bottoms.

skypilot November 30, 2015

IF you recommend purchase of physical coins what are your favorite countries to own coins from?

ward November 30, 2015

Since I live within a few hundred miles of Canada, I purchase Canadian coins. They generally sell at a discount to US coins and are more generally recognized by the residents in my area.

Craig Bradley November 30, 2015

The U.S. Government can not take foreign coins away as readily as U.S. Minted Coins.

Chuck Burton November 30, 2015

When will Mike be back? Larry is interesting, but should have his own daily comment. I miss Mike.

Chuck Burton November 30, 2015

It seems to be official now, the IMF's Special Drawing Rights will include the Yuan, beginning in October, 2016. It will make up about 10%, with the Dollar at about 40%, and the Euro about a third. The Yen and Pound will each be around 8%. The delay is to allow national organizations, etc., to redraw their investments to include Chinese bonds and such, without a sudden effect from making those investments. Nevertheless, the effect on markets in China could be astounding, and everyone should consider adding some carefully chosen Chinese stocks, ETFs, etc., to their own portfolios.

Jim November 30, 2015

Like what? Jim

Chuck Burton November 30, 2015

ASHR or FXI are ways to play the Shanghai and Shenzhen exchange averages, Jim As for individual stocks, you are on your own.

Jim November 30, 2015

That will do. Thank you. Jim

Mr c November 30, 2015

You are so.on.the money, can you say: the Chinese are coming...The world will ride the Dragon and leave the Eagle in the dust....

Wapitiman November 30, 2015

Silver is silver! I recommend buying silver rounds (one ounce pieces) which are selling for approximately6 dollars less than the cost to manufacture. They presently are a steal.

Jim November 30, 2015

I have always preferred the poor man's precious metal, silver. I just can't see gold being used as a direct medium of exchange. I don't know if they are the best investment or not but I buy pre 1963 US "junk"coins regularly. How can you go wrong with George Washington, FDR, Ben Franklin, and my favorite, the John Kennedy silver half dollar? A Washington quarter would buy a gallon of gas in 1960 and it still will today! Jim

Getreal November 30, 2015

You could have bought Gold Liberty's online today for $1106 which I did. $1000 or $1100 why wait if it's going to $5000? Maybe.

Chuck Burton November 30, 2015

Americans will recognize those pre-63 coins and most likely trust them better than gold. If silver goes to $150, dimes could be very useful at nearly $15 value

Ant December 1, 2015

Hey Jim, its not junk, its constitutional silver! And they are fun to collect. I like dimes since they they will be able to purchase smaller items. Its hard to break an ounce.

Shawn mcnamara November 30, 2015

How much gold and silver should I own? As to a % of savings? Thanks

$1,000 gold November 30, 2015

first, let's see what the upcoming fed rate hike does to gold.

Jim November 30, 2015

One and done! Jim

$1,000 gold November 30, 2015

yep, probably for about 6 months.

$1,000 gold November 30, 2015

but tightening is going to be tough on gold. even a lack of easing has been.

$1,000 gold November 30, 2015

so why are you guy interested in gold at the wrong time?

Ken November 30, 2015

I'll bet you already know what accompanies a economic collapse. If Argentina or Mexico collapse, nothing much happens, because some banks and governments pay off the debt. But when an economy the size of ours goes, there is a complete social and political collapse. It happened around 1200 B.C. when Ancient Egypt was conquered and went into decline, and the governments of Babylon, Assyria, the Hittites, the Greeks and China collapsed, ushering in a middle age period. During the fifth century A.D., when Rome collapsed, it was followed by Persia, India, the Arabic countries, and China was conquered by the illiterate Mongols. Only the Byzantines escaped, because in 1092, Alexios I reinstated 90-95 % gold coinage. During the past century or so the empires of Spain, Austria, the Turks, Germany twice, Japan, the British and the Soviets have gone, and, as you say, the United States, Europe and Japan will soon follow. So people should either force a return to gold as money, or be prepared for another middle ages. We should no longer depend upon Harvard economists to manage the economy, because they are in favor of continuing the same economic policies which brought Rome down, and gave our ancestors an oppressive theocracy and more than a millennium of middle ages. Acquiring as much gold and silver as we can as well as a haven away from the cities are the only way to survive. After the collapse, Rome went from a population of about 2 million to about 25-35,000. Don't expect New York, L,A. an other large cities to survive, because they will not.

Robin Steel November 30, 2015

Nice summary, Ken. It's too bad that we live in a world where "everything is rigged" toward the Oil Oligarchs and their hand chosen "executives" at the Banks and "insurance companies" who control the "media" and governments...it seems that a lot of people in the USA have already lost their "faith" in the government, but they realize that their vote can be "rigged" too; and they seem to be satisfied that at least; everyone else in the world is poor in comparison...Wilhelm Reich did the research that explains how the Fascist system is the result of the capitulation of the "common man" to the power of the elite, but who remembers him? Chinese "Caputism" is the triumph that allows our masters to manipulate the masses into war hysteria without the actual threat of a "big" war, while Orwellian "Terrorism" occupies the Headlines...Carl Lewis was asked about ISSL, on NPR, and he nailed it. "ISSL?", He said, "That's Halliburton's problem, let them solve it" (sorry, that is a paraphrase from memory, but it is the jest of his comment). Now they (Daesh, ISSL) sell Oil to Turkey's Prime Minister, Ahmet Davutoğlu's son, who is implicated up to his neck in the deal...that's why they don't close the border and want to keep the Russians and NATO apart... But don't worry, be happy, and keep watching Dancing with the Stars, instead of demanding "change"...atmospheric pollution will be on the news for the next few weeks, and seems to be the unnatural basis for "real change" for the next few hundred years. So I assume that the private gold "by product" from RIO, BHP, et al; is going into vaults away from the future coast lines.

Robert November 30, 2015

To bring us up-to-date; where do you expect all the people of N.Y. and L.A., and other centers ; to go ? And what comes after ? Thanks.

Chuck Burton November 30, 2015

Academic economic theories never work. There is always some b*****d who figures out a way to game the system.

John November 30, 2015

I read several of Wilhelm Reich's books! In psychology, I thought him way ahead of the pack.

Jim November 30, 2015

According to Fearless Leader the only thing we have to fear is Climate Change. Jim

Jim November 30, 2015

In the Gulf War the Air Force flew an average of 1100 sorties a day. They flew 300 a day in Kosovo. Fearless Leader is socking it to ISIS with 7 a day and no bombing of their oil facilities because it might cause pollution. Jim

David November 30, 2015

Do you remember the show that Jesse Ventura did that showed the tens of thousands of "crowd caskets" in the fields of Georgia, that were moved by FEMA as soon as they were discovered? That is probably the scenario.

Craig Bradley November 30, 2015

SURVIVAL OF THE FITTEST They have nowhere to go in a pinch. Even if they did, getting out of Dodge in those huge cities would be nearly impossible in a major crisis or emergency. Remember the gridlock on all the highways leaving New Orleans in the days preceding the arrival of Hurricane Katrina. Hotels were full and you could not travel far. Grocery stores ran out of food and supplies as panicked crowds cleaned them out in a day or two. Civil law broke down. You were on your own for 72 hours or so. No help. No police. No fire. No hospitals. No doctors. No electricity. No food. Many would die in places like Southern Calif under similar circumstances. Millions would die. Good thing is instead of 12 million residents in L.A. you would only have maybe 6 million after just a week or two. The survivors would actually have some extra space or elbow-room after the majority die-off. All the major freeways leaving Southern Calif. would be gridlocked in an emergency . ( This happens in normal rush hours when just one accident slows traffic flow). Try getting out when traffic is so jammed-up that you only can go 15 miles an hour for the night. You won't get any farther than a single tank of gas will take you ( 300 miles). To escape the all the mayhem, you need to get at least as far as Southern Utah. Impossible. That is a one or two day drive under normal conditions. So, you better be prepared beforehand to stay if necessary or make prior arrangements and be out of town when shinola happens.

Jim November 30, 2015

I'm told that one well to do neighborhood in New Orleans had Blackwater Security snipers and survived the chaos just little damage. It is those that have always depended on the Government to save them that will be very disappointed. Jim

Dai November 30, 2015

When you look at the GOP primaries circus, it is easy to believe that the cycle of "Bread and Games" has begun.

Ken December 1, 2015

These are all signs of the ongoing collapse. The collapse of governments are only part of the process. There are a number of other signs. I wonder whether an awakening of the populace would reverse the trend. We very much need to have enough people realize there is a huge problem and then demand that the system be cleaned up, getting rid of the extensive corruption, and take control of the government again. The problem is that those I've mentioned the problem to do not even want to think about it. i have studied this subject intensively for decades, and I would love to see if we are intelligent enough to "dodge the bullet."

Ken December 1, 2015

The problem with our society is that we have become too specialized. What we need to do is to develop as many skills as we can. We also have too many lawns. So much of that grass could be replaced by food production. We could also develop more community. In my own situation, there are a number of people in my neighborhood who have skills, and instead of exchanging money for those skills, we exchange favors. That can make life so much more interesting. Even people who live in apartments should be a able to live decent lives if they cooperate with others. We have two huge problems at present. We are too dependent upon government and we tend to take on too much unnecessary debt. I believe that the greatest satisfaction comes not from owning lots of stuff, but from being able to work with our friends and neighbors to create a more amiable and productive world. We need to become more tolerant and less judgmental toward those who are different from us. I find a great deal of satisfaction in talking with those who are different and finding new ideas which can make my own life more interesting and rewarding. It's nice to find all of the things we have in common, even though we seem very different in the beginning. Another thing we might do is to find a couple of acres with an adequate house where we can grow more of our own food. We should also rethink our attitudes toward population growth. We are destroying the natural world, without realizing that we need wild areas. I am in the process of putting together a list of all of the space that is required to support one person. When you begin to think about this seriously, it is quite sobering. My answer is that the large cities do not need to break down if we use our intelligence to solve the problems which economic collapse creates. At the end of the first cycle the melting of the glaciers was providing new land for families to occupy. At the end of the second cycle, the collapse of good hygiene brought plagues which took out much of the population. Using our increased knowledge of history and technology, we may be able to avoid the kind of catastrophic circumstances we could face if we do not make a concerted effort to act now instead of waiting. The solutions will not be painless, but if we act while we still have a good chance of weathering out the storm, we may be able to avoid at least some of the pain and deprivation which could befall our descendants. There is way too much to include in this space, but that may give you some idea of what we might do.

Ken December 1, 2015

I wonder what our world would be like if we didn't always have to be on the warpath. If we were not such a huge presence in the Middle East, would ISIS even exist? The problem I see with warfare is that those who actually fight the wars have nothing to gain from them. The possible gain from war is for those who rule the countries and those who manufacture the materials for war. We need to make a giant step in evolution and stop attacking those who are different form us. Adopt a more live and let live attitude. It's a kind of tribal mentality. I realize that at present we cannot allow those maniacs to inflict their pain upon the world, but I do believe that if we could adopt a more intelligent approach we might be able to solve the problem with less bloodshed. I believe that few people really understand the situation, and I do not pretend to completely understand it myself, but I believe that the problem is an unwholesome mixture of religion and politics. Religion is supposed to be about spirituality and our relationship with unseen forces, but when mixed with politics, it becomes deadly, as we can see during the Middle Ages, or during the reign of Oliver Cromwell in England during the 1650's or in present-day Iran. How many of use know that the Arabic countries were leaders in science and technology from about the fifth century until about 1100, when a highly-regarded Islamic philosopher convinced his colleagues that their time would be more constructively spent studying the Koran. The progress in scientific research was halted, the middle class and the economy collapsed, creating the theocratic government we see today, which is staunchly opposed to any kind of modernization.

John Burchill November 30, 2015

Larry; What proportion of the funds I have set aside to follow your recommendations should be allocated to (1) Survival (2) ME&G (3) Income (4) Asia . I mean the % that each sector should carry. Thanks for all you good a clear advise.

Craig Bradley November 30, 2015

Larry, Do you answer (any) reader questions around here? Doubt it.

D November 30, 2015

Larry doesn't answer in the comments section. Common or interesting questions are sometimes answered in a column or interview.

Craig Bradley November 30, 2015

MAY THE FORCE BE WITH YOU Larry does not answer individual questions at all, moreover, he has not proven to be able to time markets any better than anybody else. Certainly not with gold or silver or mining stocks. Last year, for example, Larry was predicting a bottom in gold in October or at the very latest, Jan- March 2015. Now, he is repeating the same predictions and referencing his cycle theories. Gold and Silver markets, at least paper markets are known to be manipulated quite often. So, don't bet the farm on anybody's recommendations. Rely on your own instincts and analytical powers, independent of Larry or me. Instead, Rely on "the force".

Steven Pierce November 30, 2015

Excellent advice, Craig!!!

Troy November 30, 2015

I personally pumped more than $1000 into the US economy today. As usual Amazon was well prepared for the traffic and offered some irresistible deals. In fact I only encountered one website that was not equipped to handle the online traffic and I did not place an order, In this shift from bricks and mortar to online a business *must* be able to handle the increased traffic of sales. I believe we are looking at an inevitable shift in sales from local to online.

PeterW November 30, 2015

The West got rich employing unfettered Capitalism. China is getting Rich encouraging responsible Capitalism. Thus, Chinese unfettered capitalist are being arrested, losing their fortune and going to Jail. The West placed trade restrictions on Nations it does not like. China trades with everyone. The US demands that when you trade, you must use the US Dollar. China will trade in any Currency. China's currency is now the second most used currency in the World. The US demands that you use its SWIFT financial system to trade. China has created CIBS = China International Banking system, allowing anyone to trade with anyone. The SWIFT system certain countries you may not use the SWIFT system. The US has just been forced to allow China to join the IMF. May you choose good Karma Peter W

Chuck Burton November 30, 2015

All very true, Peter. And if you are smart, you will take it to heart and get into the better quality Chinese stocks. I'd say look for companies that have a bit of history - perhaps they ran up early on, then survived some sort of price collapse, but are beginning to rise again. The fact of their survival would seem to show some strength that newer companies may not have. But diversify - diversify.

Lyndell Tucker November 30, 2015

What should I do with your 12-14-15 gold option recommendation? Lyn

Ted F November 30, 2015

I wonder how you would rate Spanish Reals from the 1700's?

Scott U November 30, 2015

Hi Larry, Because many of us Safe Money Report readers have a large chunk of our retirement $ trapped in company 401k's--which means we can only purchase mutual funds--please keep us informed us what mining & gold mutual funds are best prepared/preparing for a gold price upswing. Thank you very much!

The damn world is on fire right now, every country is broke because of budget deficits, and debt that can never be re-paid ! Be very careful my friends, and yes absolutley buy at least 10% of your assets of gold and silver! November 30, 2015

The only thing that will be of value, will be hard tangible assets I.E.; gold silver ,land, property, fine art etc!

Lyndell Tucker November 30, 2015

C0rrection. What should I do with your GLD 12-18-15 114 P ? Lyn

bruce November 30, 2015

"As sure as I know who my mother and father are, the global monetary system will collapse within the next few years. So will the governments of Europe, Japan and the United States."............o my Lord......such certainty! Larry, if we (US) collapse, there will be Armageddon.....it would be wiser to stock up on guns and ammo first!

Craig Bradley November 30, 2015

In fact, I submitted a question to Larry in his LIVE online video conference today. I asked him what he though of avoiding negative interest rates in the U.S. by investing cash in a rural mountain (log) cabin far from any U.S. cities. ( Get ahead of the trend of possible Civil unrest, negative rates, and then capital controls on your money, as well as the possibility of a "cashless economy" ( no physical currency, only digital entries at the bank ). Many U.S. Banks currently have no liquidity and are poorly capitalized. JP Morgan Chase, for example, only has 2% of customer deposits on hand for cash withdrawals. They have no liquidity and are vulnerable. A failure will set the ball rolling more than ISIS shooting-up Paris at night. I am afraid no single approach or strategy will be adequate. It is beyond Larry's job description or grade level. You have to do it yourself and depend on your own wits.

Ken December 1, 2015

You have the right idea Craig. You can raise your own food, have independent solar power, a comfortable home, and be far happier than those who merely exist, trying to make it in a world which is becoming increasingly alien and hostile to the individual. I am doing just that. I can't tell you how just being in touch with nature with your home and garden can free you from the stress of modern life. I still live in the city, but I spend as much time as a can in my little retreat.

Carolyn November 30, 2015

What might be the wiser buy a Florida lot with improvements for $25,000 or 25 gold coins/ingots at $1000 each? If war cycle/civil unrest/govt defaults, etc worsens will property values increase? If gold reached $5000 per ounce those coins would be worth $125,000. Based on cycles at what point 5, 10, 20 years will this lot reach $125,000? Basically, knowing there is no guarantee of outcome, for the best short term profit which purchase would be best?

Barry November 30, 2015

Hello Larry, I have been accumulating low mintage coins all proof 70 in the past few years. My question is, do you have a recommendation on which company is the best to sell these coins when the bull market in precious metals is in full swing? Thanks, Barry.

rolf December 1, 2015

These fools are still thinking/talking money: Investments, stocks, profit, etc., when every reasonable indication is, when you study and understand the situation in depth, that it is not difficult to reach the only logical conclusion, that is, that we are facing a human survival crisis for all kinds of reasons , including violent confrontations both domestic and international (think nuclear), due to different factors in the human jungles, such as: economic, control ambition, fear, distrust, selfishness, mutual dislike and inevitable NATURAL RACIAL antagonism, etc. ad infinitum. When TSHF time comes, very few things can be done to scape death, yes death ,one of them being "dilse" going south as far as possible from the northern "civilized" hemisphere. If you are a good person, may you save yourself and loved ones. If you are an insensitive egotistical, materialistic monster or primitive "human" savage may you fry in the nuclear "holo" for the good of the rest of us..

Mike December 1, 2015

Larry is a decent chap who claims to have correctly predicted every major economic turning point or event for the past 30 years. If that is true, and I have no reason not to doubt it, he is certainly the wealthiest man in the world. That being the case, one cannot help but wonder why he is still working so hard to sell his newsletters and why, strangely, nowadays nothing that he says will happen ever actually seems to happen. He has been pounding the table with his super-cycle theories, but has never once (not for a single second) ever explained what connection exists between, on the one hand, his very GENERAL allegation that seven of his watched cycles are all matching up and, on the other hand, his extremely SPECIFIC prediction that Europe will go bust, after which Japan will go bust, after which America will go bust, in that order. He has never explained it, probably because there is actually no connection whatsoever. It's all a classic case of someone using pseudo-scientific theories to try to forecast events. There's no harm in that. But, for that to have any chance of succeeding, one needs to be the combination of a first-class mathematician, a savvy social scientist and a seer. Larry is none of the above. Patriot though he undoubtedly is, his mouth waters at the thought of America going bust, the dollar losing 80% of its value and gold soaring to the stratosphere. He seems to be barely conscious of the agonies that people will then suffer. But that's alright. He will have been proven right. And that's all that matters, even though, being such an amazingly accurate forecaster, he must be so incredibly wealthy that it really shouldn't be of any interest to him. Odd!!!