The gold sector is now ignoring the geopolitical noise as it works a thus far routine – and expected – correction to clean out momentum players and those who let emotions get the better of them as they piled into gold due to the perception that we’d all be squatting in little Unibomber shacks trading gold and silver for eggs and survival goods before too long. Full Story
Gold has surged dramatically to major breakouts since its usual summer-doldrums lows. That’s naturally rekindled interest in this leading alternative investment, despite the record-high stock markets. Investors are starting to return to gold again to prudently diversify their stock-heavy portfolios. That’s very bullish for gold, as investment capital inflows can persist for months or even years. This shift is most evident in GLD. Full Story
Reeling from Tropical Storm Irma, Bob Hoye of Institutional Advisors rejoins the show with an in impromptu discussion. Bob Hoye reviews the PMs sector including gold, silver and shares, noting his expectations for increased demand for gold / silver late this year or early 2018. The technical outlook for Bitcoin and related cryptocurrencies - cryptos have joined virtually all financial markets in a speculative financial bubble. The universal mantra of central bankers, that credit expansion equals economic prosperity will end poorly for all but the elite. Full Story
Now that gold has become overbought on Comex, the price is vulnerable to being trashed, yet again, by the too-big-to-fail banks. It is a familiar operation in gold futures markets, where speculators buying contracts protect themselves with stop-losses. All the TBTF banks need is a pause in the speculator’s buying and a little good news (bad for gold). Ideally, the active contract will be running into maturity, so the speculators are forced to put up or shut up: in other words, sell the contract, roll it into another later maturity, or stand for delivery. Full Story
Since the warning about Cryptos was posted on the site over a week ago, entitled The Cryptocrash and Gold, Cryptos have plunged about 30% and more still if you factor in overnight losses, not helped of course by the expected development of China banning them. So now what? – is this the start of the bursting of this monstrous bubble? It could be – looking at the 6-month chart for the Bitcoin Investment Trust, which serves as a Bitcoin proxy, we can see that the volume pattern around this latest peak definitely looks negative compared to that around the last peak back in June, with modest volume on the rally and heavy volume on the decline this month. Full Story
Back in January 2017, we predicted that 2017 would be a year of a $USD collapse. At that time it was obvious to us, plain as day, that the Trump administration would want a weak $USD in order to implement its economic policies. Meanwhile, the $USD has collapsed against every major world currency: Euros, Yen, Francs, you name it, the $USD has dropped against it. Full Story
On this day in 1949 Yale University Press published Ludwig von Mises’s economic treatise, Human Action. Later in 1949 another book appeared, George Orwell’s 1984. Almost everyone has at least heard of Orwell and 1984. The same is unfortunately not true of Mises and Human Action. Both books are attached to their authors as if they were extended surnames. Orwell is 1984, Mises is Human Action. Full Story
North Korea threatens to reduce the U.S. to ‘ashes and darkness’ Markets becoming used to ongoing provocations from North Korea Russia and China continue to support watered down versions of sanctions on Kim’s regime Both NATO and Russia running war games on one another’s borders Putin says Russia will “give a suitable response” to NATOs threatening behaviour Gold set to climb as fears over economy and war will drive safe haven demand Full Story
It is with deep sadness that I share this notice of the sudden passing of Julian D.W. Phillips on the morning of August 26th. Julian was a much admired and a strong supporter of the gold and silver community, and a leading thinker who guided us for many years. His extensive work influenced tens of thousands of readers across the most recognized gold websites, media and subscribers and his passing is a big loss to many. Full Story
I had not planned on penning a public article today but my plans were changed by Martin Armstrong as he again is busy attempting to rewrite history. He is again trying to scare people away from their only financial hurricane insurance, gold ...why? Any thinking person knows a credit disaster is coming. Heck, even he has called for a pending financial disaster himself...but gold is not a safe harbor "this time"? Full Story
Because of the $20 trillion size of the total U.S. national debt, the Federal Reserve acting to increase interest rates would ordinarily create severe financial problems for the government over time, due to sharply rising interest payments on the debt. There is, however, a loophole for the federal government. Full Story
As I mentioned earlier perspective is everything. Below is a 20 year monthly chart for the SPX which we’ve been following before the top rail of the 13 year expanding flat top triangle consolidation pattern was broken. On this chart I’m showing the 2014 and 2015 consolidation period as a bullish expanding falling wedge halfway pattern. I have to tell you that it has been pretty lonely being a long term bull, but it has even been harder over the last several months as the rising wedge has been developing on the daily charts above. Full Story
For the first time since we’ve been keeping track, two separate Category 4 hurricanes struck the mainland U.S. in the same year. It should come as no surprise, then, that the combined recovery cost of Hurricanes Harvey and Irma is expected to set a new all-time high for natural disasters. AccuWeather estimates the total economic impact to top out at a whopping $290 billion, or 1.5 percent of national GDP. Full Story
When the average investor thinks about gold, they may view it as an inflation hedge. Or maybe as crisis insurance. Or perhaps solely as a portfolio diversifier. These are all good reasons to own gold—but those are always good reasons to buy precious metals. Mike Maloney’s reasons to own gold and silver at this point in history are very different than what passes as standard arguments. Full Story
Exceptional needs such as hurricanes and wars that boost spending, hammer the budget, and increase the national debt will always exist. The system has been in place for decades – so Congress likes and continues the process. The system works for the political and financial elite. If gold is so important that we keep it in a massive building (Fort Knox) protected by weapons, mines and thousands of soldiers, why hasn’t it been independently audited in 60+ years? Maybe the results of the audit would be embarrassing. Full Story
On the whole, I consider White’s argument one of the strongest I have seen for gold and silver ownership as long-term safe haven hedges. The catalyst for that debt-deflation could be the realization in global financial markets that the central banks, as White describes it, have backed themselves into a corner over the past ten years with nowhere to go. In other words, the next time around – the next time the black swan lands – we will be on our own, walking the high wire without a central bank safety net. Full Story
The $USD continues to drop like a brick, having taken out critical support in the near-term. This is just the beginning. It's only going to get worse from here. Here’s the $USD’s chart running back 40 years. I call this the “single most important chart in the world,” because how the $USD moves has a massive impact on all other asset classes. Full Story
It is widely believed that World War II gave us the end of the Great Depression. As a result, people have said for decades there is nothing like a wartime economy to bring recovery from economic recession. War blows apart a lot of things, so you have to make a lot of things, which puts a lot of people to work building a lot of things, which puts a lot of other people to work digging a lot of things from the ground in order to build those things. Hurricanes blow apart a lot of things, too. Full Story
Okay, so I don’t have grandchildren yet, but I want to increase the odds you read beyond the title if you are old enough to have grandchildren. Should the investment advice we give to someone young truly be different from that given to someone old? And given where asset prices are, is it responsible to tell anyone to pile into the markets? Here are my thoughts on the topic, hopefully applicable not just for my children. Full Story
By: Jordan Roy-Byrne CMT, MFTA - 13 September, 2017
We started employing analog charts during the latter stages of the seemingly forever bear market in precious metals. Comparing current to past trends by using price data is not considered technical analysis but it is extremely valuable because history tends to repeat itself. It also helps us identify extremes as well as opportunities. For example, in 2015 it was clear the epic bear market in gold stocks was due for a major reversal. Today, precious metals appear to be in the early innings of a cyclical bull market and the analogs suggest there is plenty of room to run to the upside. Full Story
The U.S. Government’s massive one-day debt increase had a profound impact on the amount of money it will have to fork over just to service its interest payment. On Friday, Sept 9th, the U.S. Treasury increased the total debt by a stunning $318 billion. Thus, the total U.S. Government debt increased from $19.84 trillion on Thursday to $21.16 trillion on Friday. Full Story
Let's start with Comex Digital Gold. It has been in an UPtrend since July 10 and this rally has carried it $150 or about 12.5%. In doing so, The Commercials on the CoT have increased their NET short position by 182,000 contracts and, specifically, the 24 Banks of the Bank Participation Report have doubled their NET short position, going from 104,748 contracts NET short in July to 213,746 NET short last week. Full Story
It’s not easy to build wealth in any asset class. It’s even more difficult to retain it. On that golden note, please click here now. Double-click to enlarge this short term gold chart. Over the past week or two, my wealth building mantra has been, “Book profit now”. From a technical standpoint, the world’s mightiest metal has begun to show signs of “head and shouldering”. Full Story
It really should be clear that a major international banking crisis is inevitable, and likely to occur fairly soon. Due to the extreme debt levels, many banks are close to that point of failure. An event like a stock market crash is likely to push many banks to that point of failure, since the pressure it would create (on cash resources), would expose their inability to fulfill their obligations. Full Story
Those who paid any attention to the financial press last week saw the following narrative; President Donald Trump betrayed Republicans by cutting a deal with Democrats Nancy Pelosi and Charles Schumer. They agreed to punt on the borrowing cap until December and spend $15 billion for hurricane relief. Full Story
Eventually physical demand for precious metals will swamp the games being played in the paper (i.e., futures contract) markets. So every time the commitment of traders report (COT), which tracks those paper games, turns bearish while gold and silver continue to rise, the precious metals community watches hopefully for signs that fundamentals are at long last about to ignite a massive bull run. Full Story
This video examines the prospects for gold and miners continued rally and details why fall is the best time of the year for the stock market. Full Story
The USD/CAD fell close to 1400 pips from the May 2017 highs into the July lows. In August the currency pair retraced over 350 pips topping out at 1.2777. Since the high that was struck on August 15, the USD/CAD has once again moved back under the July lows and is now trading more than 500 pips below that August 15 high. Full Story
If you’re familiar with ABC’s popular reality show Shark Tank, you should already be familiar with the concept behind the San Antonio Angel Network (SAAN). Select entrepreneurs and innovators pitch their startup ideas to accredited investors, who can choose to make early-stage investments in a potentially successful company. Full Story
The best performing precious metal for the week was gold, followed by silver. Gold traders and analysts are bullish for a 12th straight week, reports Bloomberg, as the yellow metal is on its way to the highest price in a year. With tensions from North Korea, coupled with a weaker U.S. dollar, volume on the COMEX in New York hit a record in August. Some 6.55 million contracts, worth nearly $900 billion now, changed hands last month. Bob Savage, CEO of Track Research, cites North Korea as the biggest investor worry right now and believes that “the safe-haven to watch into this mess remains gold.” In addition, last week investors poured $1 billion into the largest ETF backed by bullion, Bloomberg reports. Full Story
Well, David, not too long ago you wrote an article for our site about how gold and silver were getting ready for an historic run you called it. So, before we start discussing some of the market action here recently, fill our listeners in on why you believe things were set up and are set up for us to see a good run in the metals here. Full Story
The volume should generally decline until bottoming along with the price in the right shoulder, with small upswings along with the price (in the final part of the left shoulder and the head). The volume should increase significantly only after the right-shoulder bottom. This is not what we can observe on the above gold chart. The volume was more or less steady between the first half of 2013 and the final part of 2015, with a visible uptick in Q3-Q4 of 2014 – not during a rally in gold, but during a decline in its price. Full Story
It’s about time that I share with you all a little secret. The situation in the markets is much worse than you realize. While that may sound like someone who has been crying “wolf” for the past several years, in all honesty, the public has no idea just how dire our present situation has become. The amount of debt, leverage, deceit, corruption, and fraud in the economic markets, financial system, and in the energy industry are off the charts. Unfortunately, the present condition is even much worse when we consider “INSIDER INFORMATION.” Full Story
You see, the metals have been consolidating for most of 2017. But, on Monday morning, August 28th, GDX broke out of its consolidation. And, guess what happened over that prior weekend? If you guessed that Hurricane Harvey made landfall, then you guessed correctly. This perfect timing correlation clearly suggests that Hurricane Harvey “caused” the metals break out, and the fears about Hurricane Irma continued to push the metals higher this past week. Full Story
Bitcoin is often promoted as the antidote to the madness of fiat irredeemable currencies. It is also promoted as the replacement. Bitcoin is promoted not only as money, but the future money, and our monetary future. In fact, it is not. Why not? To answer, let us start with a look at the incentives offered by bitcoin. Full Story
Dr. Stephen Leeb, best-selling author and head of The Complete Investor returns to the show with encouraging comments for PMs investors. Although a reaction could unfold soon, Dr. Leeb views the gold market price activity as a potential "All-In" buy opportunity. Bill Murphy of GATA.org returns with bullish commentary on the precious metals sector. Once silver closes above $21 an ounce, our guest expects the world's most conductive / reflective metal to launch into the stratosphere like Bitcoin. Full Story
This letter will be the first of a series in which I outline my vision for the next 5–10–15–20 years of global economics. I understand that there is a substantial amount of hubris involved in such an undertaking, so I will approach the topic gingerly. Full Story
Gold continues to build towards its breakout from a massive 4-year long base pattern. This is likely to occur when the dollar breaks down from its topping pattern, and is expected to lead to a bullmarket that will dwarf the last one from 2001 through 2011, and may be given a tailwind when the cryptocurrency Ponzi scheme implodes. In some quarters gold is being described as having broken out already, as are gold stocks, but they haven’t yet, as we will see, and we will also look at evidence that points to the probability of a short to medium-term dollar bounce and a pullback in the Precious Metals sector before the big breakout occurs. Full Story
We are not sure if there are words that can describe what is going on right now. Houston is a mess because of Hurricane Harvey. Now that the storm has subsided and the waters begin to recede, the recovery and clean-up are barely underway. Except we are reading that it can best be described as chaotic. But it is off the news as the focus shifts to Hurricane Irma. Full Story
In this video I detail the recent price performance of the Dollar, Euro and Yen, and relate this information to gold's performance, as well as gold's likely future performance. Full Story
The gold price began to chop quietly higher starting around 9:30 a.m. China Standard Time on their Friday morning, as the dollar index headed south. That rally ran into 'da boyz' about 1:30 p.m. CST on ferocious volume. And although it rallied a bit between the morning gold fix and the noon silver fix in London, it was sold lower until a minute or so before the London close, which was 11 a.m. EDT. It then rallied a few dollars until noon in New York -- and then traded pretty flat for the rest of the day. Full Story
The four-decade long monopoly of the U.S. Petro-Dollar as the world’s reserve currency is coming to an end. Unfortunately, most Americans have no clue that when the Dollar loses its reserve currency status, life will get a lot tougher living in the U.S. of A. Let’s say, Americans will finally receive “Precious metals religion.” Full Story
Last week the XIV moved up into the 83.07-93.56 resistance zone before turning back lower hitting a low of 76.07 on Tuesday, September 5th. Since this low, we have seen the XIV move back higher in what is so far counting best as a corrective wave structure. This move higher has held the 76.4 retrace of the move down off of the September 1st high. We have, however, yet to see further follow through to the downside, thus not yet giving us confirmation that we have indeed begun the next swing lower on the XIV. Full Story
Physical gold flows through the Shanghai Gold Exchange in response to Chinese private sector demand (institutional, commercial and retail demand). To facilitate this demand, trading account facilities on the SGE are available to anyone in China, i.e. private citizens can open an SGE trading account and trade gold at the SGE as easily as a wholesale enterprise or a financial institution can. Full Story
Other things equal we know scarcity or high demand will drive prices higher. Sellers of diamonds are rarely accused of price gouging but when prices for everyday commodities take a big leap in a crisis almost everyone calls it price gouging. It’s an easy call: People are in desperate need of critical commodities, while certain suppliers are charging scalper prices. Conclusion: The suppliers are craven profiteers. Full Story
Gold continued its strength and gained 1.56% this past week. The nice channel should take gold up to heavier resistance on the weekly chart at $1,395 or so but perhaps a little rest is due. Often times, a move above the channel and back into it is the start of at least a little consolidation period. Great action all in all. Full Story
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