Weekly Update: Gold, Silver, Bitcoin – 03.31.2017

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Greetings fellow amateurs,

Once again we come to an end of a fiscal quarter and it feels like both everything and nothing has happened. Looking at the world we find that the tone and complexion of events have shifted dramatically since the start of the new year, but we also continue to observe that most of the same parts of the big picture dynamics that are driving the world are still intact.

We get more revelations about how our Fourth Amendment rights have been utterly eviscerated, vindicating those who have been bold enough to suggest such things for many years…

The people shrug.

We get more doubling down from establishment mouthpieces on a narrative about Russia that is so insane and unsubstantiated that it can only be compared to the big lie. Repeat it often enough…

The people shrug.

We get more can kicking from economic institutions that should have no credibility including horrifically weak data from the real economy and near total silence about the debt ceiling…

The people shrug.

Well, here at The Amateur Society we aren’t those who shrug. We dig deep and ask questions that won’t be touched elsewhere. Geopolitics and economics are nearly impossible to understand without a sophisticated ability to analyze and compare worldviews. If we don’t have finely tuned and well trained questioning abilities, then we will become the last generation of free men on this earth.

We’re almost there already.

Stay up to date with everything that we’re doing here and at our network On the Objective. Without further ado, let’s get into the main course:

Gold

Gold D 03312017

Gold H 03312017

While the risk of smackdown continues to be ever present, the paper price of gold futures contracts has a bullish bent at the moment. Above $1,260 with some momentum it still looks like $1,300 is in play. This narrow consolidation at the top end of the recent trading range appears to set up the potential for a breakout. It could certainly take place next week, but if you’re interested in that you’ll need to talk to some traders who have open eyes and are involved in these markets on a daily basis. Please feel free to email me at amateursociety@gmail.com and I can provide you with some referrals if that’s what you’re looking for. As for me, I’ll continue to stack after my taxes get paid. I’m self-employed, so I have to bank some liquidity in order to eat this bulk expense. Since the markets didn’t collapse last year I’ve been able to harvest some tax losses from my volatility positions that should minimize my burden. After all, it’s about honesty and tactical solutions here, right? Since I’m no longer talking about gold I guess it’s time that I moved along.

Silver

Silver D 03312017.png

Silver H 03312017.png

Silver had a strong close to end the month and has spent a healthy amount of time settling above $18.00. That level is clear support, and if we get a bullish catalyst over the weekend we could easily push up through the recent highs and put $19.00 in play. With another higher high in the current posture it looks like silver will have some interesting months ahead as uncertain events continue to unfold. It doesn’t quite feel like the unhinging or the revaluation is primed and ready, but that’s always anyone’s guess. I care less about the timing and more about the decision making. Keep accumulating this stuff. It’s not too far out in the land of hyperbole to image that positioning yourself in physical silver in advance of the inevitable systemic monetary reset would be one of the few moves you have to make in your entire life. The interesting thing about investing historically is that you only need to make a couple of correct, timely decisions in order to set your family up for generations. The problem is that you also need to choose to do nothing at all the other points. That’s really really hard. Remember: patience is a virtue.

Bitcoin

BTC D 03312017

BTC H 03312017

It was a quieter week in bitcoin where the status quo upward churn resumed. A nice pickup for those who got in at the beginning of the week close to $900. In the interest of full disclosure I scooped some up below $1,000 but didn’t get those best prices. I’m above my preset position size limit for now, and I’d view a move up to new highs with momentum for a couple hundred extra dollars to lighten up, capture some profits, and return to my core holding position. In terms of the chatter around the fork, I honestly haven’t kept up with the entirety of the discussion. Besides writing and podcasting I do have a job for income and edification purposes – I love being a tutor! – and I also went on a fast from both food and technology yesterday. It’s always a welcome break to go from being totally tuned in to as electronically silent a time as you can get in Manhattan. The next couple weeks in bitcoin will be quite interesting. Establishing a base and a range above $1,100 would be constructive, but we’ll want to keep an eye out since if we dip back under $1,000 then there’s the potential for a catalyst – likely out of China – to spark a wave of selling that would be destructive to the price action. Keep watch and continue to research.

Conclusion

Whenever you think the political environment can’t get any more ridiculous, it will. If you can keep your head when all about you are losing theirs… you’ll be a Man, my son! For the record, that’s Rudyard Kipling – not me. God bless!

Disclaimer: These are one amateur’s fallible opinions. Holding any asset is risky, so do your own research and make your own investment decisions.

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