{"id":17641,"date":"2013-05-13T22:38:19","date_gmt":"2013-05-14T05:38:19","guid":{"rendered":"http:\/\/drduru.com\/onetwentytwo\/?p=17641"},"modified":"2013-05-13T22:38:19","modified_gmt":"2013-05-14T05:38:19","slug":"gold-and-silver-enthusiasm-soar-to-historic-levels-in-the-wake-of-collapsing-prices","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2013\/05\/13\/gold-and-silver-enthusiasm-soar-to-historic-levels-in-the-wake-of-collapsing-prices\/","title":{"rendered":"Gold AND Silver Enthusiasm Soar to Historic Levels In the Wake of Collapsing Prices"},"content":{"rendered":"<p><strong>(This is an excerpt from an article I originally published on Seeking Alpha on April 21, 2013. <a href=\"http:\/\/seekingalpha.com\/article\/1357111-gold-and-silver-enthusiasm-soar-to-historic-levels-in-the-wake-of-collapsing-prices\" target=\"_blank\">Click here to read the entire piece<\/a>.)<\/strong><\/p>\n<p>On April 14th, I wrote <a href=\"http:\/\/seekingalpha.com\/article\/1340031-3-reasons-why-a-new-bottom-for-gold-will-likely-prove-elusive-for-now\" target=\"_blank\">my reasons for believing that a bottom for gold would prove elusive<\/a>. At the time, I was thinking gold (GLD) could experience a new extended phase of weakness. I definitely did not anticipate a collapse in prices on the very next trading day (April 15th).<\/p>\n<p><center><br \/>\n<figure id=\"attachment_17642\" aria-describedby=\"caption-attachment-17642\" style=\"width: 490px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2013\/04\/130419_GLD.png\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2013\/04\/130419_GLD.png\" alt=\"The collapse in GLD\" title=\"The near-collapse in GLD\" width=\"500\" height=\"350\" class=\"size-full wp-image-17642\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2013\/04\/130419_GLD.png 500w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2013\/04\/130419_GLD-300x210.png 300w\" sizes=\"auto, (max-width: 500px) 100vw, 500px\" \/><\/a><figcaption id=\"caption-attachment-17642\" class=\"wp-caption-text\">The collapse in GLD<\/figcaption><\/figure><br \/>\n<strong>Source: <a href=\"http:\/\/www.freestockcharts.com\/\" target=\"_blank\">FreeStockCharts.com<\/a><\/strong><br \/>\n<\/center><\/p>\n<p>{snip}<\/p>\n<p>Adding to the case for a bottom (or &#8220;close enough&#8221; to one) is the surge in my stylized &#8220;Gold Enthusiasm Index.&#8221; {snip}<\/p>\n<p><center><br \/>\n<figure id=\"attachment_17645\" aria-describedby=\"caption-attachment-17645\" style=\"width: 540px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2013\/04\/130421_GoogleTrendGoldPast30Days.png\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2013\/04\/130421_GoogleTrendGoldPast30Days.png\" alt=\"A new Google Trends high for &#039;buy gold&#039;\" title=\"A new Google Trends high for &#039;buy gold&#039;\" width=\"550\" height=\"262\" class=\"size-full wp-image-17645\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2013\/04\/130421_GoogleTrendGoldPast30Days.png 550w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2013\/04\/130421_GoogleTrendGoldPast30Days-300x142.png 300w\" sizes=\"auto, (max-width: 550px) 100vw, 550px\" \/><\/a><figcaption id=\"caption-attachment-17645\" class=\"wp-caption-text\">A new Google Trends high for &#039;buy gold&#039;<\/figcaption><\/figure><br \/>\n<br \/>\n<figure id=\"attachment_17643\" aria-describedby=\"caption-attachment-17643\" style=\"width: 540px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2013\/04\/130421_GoogleTrendGoldSince2007.png\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2013\/04\/130421_GoogleTrendGoldSince2007.png\" alt=\"A new Google Trend high for &#039;buy gold&#039;\" title=\"A new Google Trend high for &#039;buy gold&#039;\" width=\"550\" height=\"262\" class=\"size-full wp-image-17643\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2013\/04\/130421_GoogleTrendGoldSince2007.png 550w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2013\/04\/130421_GoogleTrendGoldSince2007-300x142.png 300w\" sizes=\"auto, (max-width: 550px) 100vw, 550px\" \/><\/a><figcaption id=\"caption-attachment-17643\" class=\"wp-caption-text\">A new Google Trend high for &#039;buy gold&#039;<\/figcaption><\/figure><br \/>\n<strong>Source: <a href=\"http:\/\/www.google.com\/trends\/explore#q=%22buy%20gold%22%2C%20%22sell%20gold%22&#038;date=today%201-m&#038;cmpt=q\" target=\"_blank\">Google Trends<\/a><\/strong><br \/>\n<\/center><\/p>\n<p>{snip}<\/p>\n<p><center><br \/>\n<figure id=\"attachment_17646\" aria-describedby=\"caption-attachment-17646\" style=\"width: 540px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2013\/04\/130421_GoldEnthusiasmIndex.png\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2013\/04\/130421_GoldEnthusiasmIndex.png\" alt=\"Gold enthusiasm suddenly wakes up\" title=\"Gold enthusiasm suddenly wakes up\" width=\"550\" height=\"400\" class=\"size-full wp-image-17646\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2013\/04\/130421_GoldEnthusiasmIndex.png 550w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2013\/04\/130421_GoldEnthusiasmIndex-300x218.png 300w\" sizes=\"auto, (max-width: 550px) 100vw, 550px\" \/><\/a><figcaption id=\"caption-attachment-17646\" class=\"wp-caption-text\">Gold enthusiasm suddenly wakes up<\/figcaption><\/figure><br \/>\n<\/center><\/p>\n<p>{snip}<\/p>\n<p>Perhaps one interesting and confirming twist is the Google Trend view on silver (SLV) search terms. It turns out that &#8220;buy silver&#8221; and &#8220;sell silver&#8221; follow similar patterns to gold. {snip}<\/p>\n<p><center><br \/>\n<figure id=\"attachment_17651\" aria-describedby=\"caption-attachment-17651\" style=\"width: 540px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2013\/04\/130421_GoogleTrendSilverPast30Days.png\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2013\/04\/130421_GoogleTrendSilverPast30Days.png\" alt=\"Interest in &#039;buy silver&#039; reaches a Google Trends high\" title=\"Interest in &#039;buy silver&#039; reaches a Google Trends high\" width=\"550\" height=\"257\" class=\"size-full wp-image-17651\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2013\/04\/130421_GoogleTrendSilverPast30Days.png 550w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2013\/04\/130421_GoogleTrendSilverPast30Days-300x140.png 300w\" sizes=\"auto, (max-width: 550px) 100vw, 550px\" \/><\/a><figcaption id=\"caption-attachment-17651\" class=\"wp-caption-text\">Interest in &#039;buy silver&#039; reaches a Google Trends high<\/figcaption><\/figure><br \/>\n<strong>Source: <a href=\"http:\/\/www.google.com\/trends\/explore#q=%22buy%20silver%22%2C%20%22sell%20silver%22&#038;date=today%201-m&#038;cmpt=q\" target=\"_blank\">Google Trends<\/a><\/strong><br \/>\n<\/center><\/p>\n<p>{snip}<\/p>\n<p><center><br \/>\n<figure id=\"attachment_17652\" aria-describedby=\"caption-attachment-17652\" style=\"width: 540px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2013\/04\/130421_GoogleTrendSilverSince2004.png\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2013\/04\/130421_GoogleTrendSilverSince2004.png\" alt=\"Interest in silver searches since 2004 shows a familiar pattern...\" title=\"Interest in silver searches since 2004 shows a familiar pattern...\" width=\"550\" height=\"262\" class=\"size-full wp-image-17652\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2013\/04\/130421_GoogleTrendSilverSince2004.png 550w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2013\/04\/130421_GoogleTrendSilverSince2004-300x142.png 300w\" sizes=\"auto, (max-width: 550px) 100vw, 550px\" \/><\/a><figcaption id=\"caption-attachment-17652\" class=\"wp-caption-text\">Interest in silver searches since 2004 shows a familiar pattern...<\/figcaption><\/figure><br \/>\n<strong>Source: <a href=\"http:\/\/www.google.com\/trends\/explore#q=%22buy%20silver%22%2C%20%22sell%20silver%22&#038;cmpt=q\" target=\"_blank\">Google Trends<\/a><\/strong><br \/>\n<\/center><\/p>\n<p>{snip}<\/p>\n<p><center><br \/>\n<figure id=\"attachment_17653\" aria-describedby=\"caption-attachment-17653\" style=\"width: 490px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2013\/04\/130419_SLV.png\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2013\/04\/130419_SLV.png\" alt=\"SLV&#039;s breakdown has now erased 90% of the gains from 2010 breakout\" title=\"SLV&#039;s breakdown has now erased 90% of the gains from 2010 breakout\" width=\"500\" height=\"350\" class=\"size-full wp-image-17653\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2013\/04\/130419_SLV.png 500w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2013\/04\/130419_SLV-300x210.png 300w\" sizes=\"auto, (max-width: 500px) 100vw, 500px\" \/><\/a><figcaption id=\"caption-attachment-17653\" class=\"wp-caption-text\">SLV&#039;s breakdown has now erased 90% of the gains from 2010 breakout<\/figcaption><\/figure><br \/>\n<strong>Source: <a href=\"http:\/\/www.freestockcharts.com\/\" target=\"_blank\">FreeStockCharts.com<\/a><\/strong><br \/>\n<\/center><\/p>\n<p>{snip}<\/p>\n<p>In the meantime, I will continue to be amazed by the amount of chatter suggesting that gold&#8217;s collapse is a harbinger of deflation. {snip} Perhaps inflation will become a palpable threat once after enough people finally conclude the global economy will never see real inflation again&#8230;<\/p>\n<p>Be careful out there!<\/p>\n<p><strong>(This is an excerpt from an article I originally published on Seeking Alpha on April 21, 2013. <a href=\"http:\/\/seekingalpha.com\/article\/1357111-gold-and-silver-enthusiasm-soar-to-historic-levels-in-the-wake-of-collapsing-prices\" target=\"_blank\">Click here to read the entire piece<\/a>.)<\/strong><\/p>\n<p>Full disclosure: long GLD, GG, SLV, PAAS<\/p>\n","protected":false},"excerpt":{"rendered":"<p>(This is an excerpt from an article I originally published on Seeking Alpha on April 21, 2013. Click here to read the entire piece.) On April 14th, I wrote my reasons for believing that a bottom for gold would prove elusive. At the time, I was thinking gold (GLD) could experience a new extended phase &#8230; <a title=\"Gold AND Silver Enthusiasm Soar to Historic Levels In the Wake of Collapsing Prices\" class=\"read-more\" href=\"https:\/\/drduru.com\/onetwentytwo\/2013\/05\/13\/gold-and-silver-enthusiasm-soar-to-historic-levels-in-the-wake-of-collapsing-prices\/\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[482,199,62,21],"tags":[200,24,1165,1164,431,129,25,354,284,1591],"class_list":["post-17641","post","type-post","status-publish","format-standard","hentry","category-breakout","category-commodities","category-technical-analysis","category-u-s-dollar","tag-gld","tag-gold","tag-gold-enthusiasm-index","tag-google-trends","tag-ishares-silver-trust-etf","tag-market-sentiment","tag-silver","tag-slv","tag-spdr-gold-shares","tag-u-s-dollar"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Gold AND Silver Enthusiasm Soar to Historic Levels In the Wake of Collapsing Prices - ONE-TWENTY TWO: Trading Financial Markets<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/drduru.com\/onetwentytwo\/2013\/05\/13\/gold-and-silver-enthusiasm-soar-to-historic-levels-in-the-wake-of-collapsing-prices\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gold AND Silver Enthusiasm Soar to Historic Levels In the Wake of Collapsing Prices - ONE-TWENTY TWO: Trading Financial Markets\" \/>\n<meta property=\"og:description\" content=\"(This is an excerpt from an article I originally published on Seeking Alpha on April 21, 2013. 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Click here to read the entire piece.) On April 14th, I wrote my reasons for believing that a bottom for gold would prove elusive. At the time, I was thinking gold (GLD) could experience a new extended phase ... 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