It does not makes sense to expect any major shake-up that would affect the pricing of gold and silver in a major way until at least January 2016 at which time the IMF is scheduled to meet to discuss the possible inclusion of the Chinese RMB in the basket of fiat currencies that make up the constituents of the U.S. Dollar Index. Let me explain why that is the case.

The insane banker’s world in which we live will come to an end, and likely a disastrous one. Keep on stacking gold & silver. On a relative scale, price should be your least concern.

Insanity is doing the same thing over and over and expecting a different result & that is precisely what the markets are doing in gold and silver these days! Take a look.

Last week’s read of the charts accurately gave clues for what transpired this past week. Here's what the charts have to say on gold and silver for the coming week.

While the odds may favor a rally in gold and silver, the trend could very well negate that interpretation. Always go with the trend - the charts do not lie - and this is what they are saying about the current situation.

The trend continues down in gold & silver irrespective of all the positive news, charts, graphs, and other news writers specializing PMs present. The major players may be setting up one more trap to take the price of silver down to levels most do not expect. After all, how many expected crude oil to go from $105 to $45?

When will gold and silver rally? We would say the best answer comes from a reading of the charts. Has a bottom been confirmed? Not by our standard of confirmation. Let me explain.

An inordinate build-up of short positions in silver by the "smart money” or “insiders” implied lower gold and silver prices and the charts shown here confirmed that.

In spite of the positive change of behavior we have seen in gold and silver this past week with strong closes and increased volume - both attributes of buyers in more control than sellers - the weekly trend remains down. While we now see some steps in the right direction - a higher swing high - the market needs to prove itself and once that happens there will be ample opportunities to participate in the paper market.

We do not engage in any “predictions” of what the market will do as it is an exercise in ego and folly, and a waste of time. One need only go back to those who are making predictions for 2015 and read what was predicted for 2014 for proof. All we can say is that little can be added to what has already been said and that is that the trend remains down in gold, and until there is evidence of a strong reversal, this market continues to move along the Right Hand Side of a weak Trading Range.