Gold/Silver Market Crash – April 2013 Daryl Montgomery April 18, 2013 Copyright 2013, All Rights Reserved The contents of this presentation are not intended as a recommendation to buy or sell any security.

Prelude to a Crash Silver peaks at $48.70/oz in April Gold peaks at /oz in Sept Silver had been declining for 24 months. Gold had been declining for 19 months. Sharp price after long decline indicates bottom. A sharp drop on high volume is called capitulation = All the sellers get shaken out of the market.

Timeline of Crash Up to Friday Goldman Sachs tells clients to short gold futures on Wed, April 10 th. Target price $1390. Spot gold drops $22. On Thurs April 11 th, New York Times has major article saying gold has lost its luster. Spot gold goes up slightly. On Friday, gold gaps down and breaks $1540 support, but initially holds at support at $1524. Trades as low as $1482. Gold down $72.70 and Silver down $1.45 on Friday. Huge volume spike. Very oversold.

GLD 10Day/15Minutes Friday 50, 200-Unit Moving Averages; RSI, MACD, RSI

SLV 10Day/15Minutes Friday 50, 200-Unit Moving Averages; RSI, MACD, RSI

GDX 10Day/15Minutes Friday 50, 200-Unit Moving Averages; RSI, MACD, RSI

GDXJ 10Day/15Minutes Friday 50, 200-Unit Moving Averages; RSI, MACD, RSI

GLD One-Year Daily Friday 50, 200, 325-DayMoving Averages; RSI, MACD, DMI

SLV One-Year Daily Friday 50, 200, 325-DayMoving Averages; RSI, MACD, DMI

GDX One-Year Daily Friday 50, 200, 325-DayMoving Averages; RSI, MACD, DMI

GDXJ One-Year Daily Friday 50, 200, 325-DayMoving Averages; RSI, MACD, DMI

GLD Monthly with Williams%R Friday 10,40,65-Month Moving Averages, RSI, DMI, MACD

SLV Monthly with Williams%R Friday 10,40,65-Month Moving Averages, RSI, DMI, MACD

GDX Monthly with Williams%R Friday 10,40,65-Month Moving Averages, RSI, DMI, MACD

GDXJ Monthly with Williams%R Friday 10,40,65-Month Moving Averages, RSI, DMI, MACD

GLD 10Day/15Minutes Friday 50, 200-Unit Moving Averages; RSI, MACD, RSI

SLV 10Day/15Minutes Friday 50, 200-Unit Moving Averages; RSI, MACD, RSI

GDX 10Day/15Minutes Friday 50, 200-Unit Moving Averages; RSI, MACD, RSI

GDXJ 10Day/15Minutes Friday 50, 200-Unit Moving Averages; RSI, MACD, RSI

GLD Monthly with Williams%R Friday 10,40,65-Month Moving Averages, RSI, DMI, MACD

GLD One-Year Daily Friday 50, 200, 325-DayMoving Averages; RSI, MACD, DMI

SLV One-Year Daily Friday 50, 200, 325-DayMoving Averages; RSI, MACD, DMI

GDX One-Year Daily Friday 50, 200, 325-DayMoving Averages; RSI, MACD, DMI

GDXJ One-Year Daily Friday 50, 200, 325-DayMoving Averages; RSI, MACD, DMI

SLV Monthly with Williams%R Friday 10,40,65-Month Moving Averages, RSI, DMI, MACD

GDX Monthly with Williams%R Friday 10,40,65-Month Moving Averages, RSI, DMI, MACD

GDXJ Monthly with Williams%R Friday 10,40,65-Month Moving Averages, RSI, DMI, MACD

Timeline of Crash Friday night: gold bug panic sets in. Aden Sisters recommend cutting PM holdings in half. Gold/silver gap down on Monday. Gold drops through several levels of support until it hold around $1350. Gold down $ and silver $3.16. Overnight bottom: gold 1345, silver Massive volume spike and technicals reach total wash out levels.

GLD 10Day/15Minutes Monday 50, 200-Unit Moving Averages; RSI, MACD, RSI

SLV 10Day/15Minutes Monday 50, 200-Unit Moving Averages; RSI, MACD, RSI

GDX 10Day/15Minutes Monday 50, 200-Unit Moving Averages; RSI, MACD, RSI

GDXJ 10Day/15Minutes Monday 50, 200-Unit Moving Averages; RSI, MACD, RSI

GLD Six-Months Daily Volume Monday 50, 200, 325-DayMoving Averages with Volume

SLV Six-Months Daily Volume Monday 50, 200, 325-DayMoving Averages with Volume

GDX Six-Months Daily Volume Monday 50, 200, 325-DayMoving Averages with Volume

GDXJ Six-Months Daily Volume Monday 50, 200, 325-DayMoving Averages with Volume

GLD One-Year Daily Monday 50, 200, 325-DayMoving Averages; RSI, MACD, DMI

SLV One-Year Daily Monday 50, 200, 325-DayMoving Averages; RSI, MACD, DMI

GDX One-Year Daily Monday 50, 200, 325-DayMoving Averages; RSI, MACD, DMI

GDXJ One-Year Daily Monday 50, 200, 325-DayMoving Averages; RSI, MACD, DMI

GOLD ETF: GLD 5-Years Weekly Monday 10, 40, 65-Week Moving Averages, RSI, DMI, MACD

Silver ETF SLV 5-Years Weekly 10, 40, 65-Week Moving Averages, RSI, DMI, MACD

Mining ETF GDX 5-Years Weekly 10, 40, 65-Week Moving Averages and RSI, DMI, MACD

Mining ETF GDXJ 5-Years Weekly 10, 40, 65-Week Moving Averages and RSI, DMI, MACD

GLD Monthly with Bollinger Bands Monday 10,40,65,80-Month Moving Averages, RSI, DMI, MACD

SLV Monthly with Bollinger Bands Monday 10,40,65,80-Month Moving Averages, RSI, DMI, MACD

GDX Monthly with Bollinger Bands Monday 10,40,65,80-Month Moving Averages, RSI, DMI, MACD

The Day After the Crash Gold continues dropping after Boston Marathon terrorist incident (strange). The CFTC reduces allowed leverage for precious metals trading. Goldman Sachs says market hasnt bottomed. Crackpot predictions surface including one that predicts gold will drop to $800. More reasonable predictions surface given valid reasons why gold could drop to $1250 to $1300 (production costs).