By: The Gold Report and Ross Beaty - 16 October, 2009
His passion these days has turned to the geothermal energy arena, where he's busy putting his Midas Touch on the new venture, but mining magnate Ross Beaty has not lost his love for silver, copper and gold. In this exclusive Gold Report interview, Ross talks about how a previous precious metals company's business model inspired that of his new enterprise, and what he sees as common ground in the geothermal and mining sectors. Full Story
By: Peter Schiff, Euro Pacific Capital, Inc. - 16 October, 2009
While all the talk at present is about economic corners turned and markets charging ahead, no one is paying much notice to an American economy deteriorating before our eyes. These myopic commentators seem to be simply moving past the now almost-universally held conclusion that before the crash of 2008, our economy was on an unsustainable course. If these imbalances had been corrected, then perhaps I too would be joining in the euphoria. But evidence abounds that we have not veered at all from that dangerous path. Full Story
By: Daniel Aaronson and Lee Markowitz - 16 October, 2009
The Federal Reserve’s current 0% interest rate policy will be more damaging to the US economy than the 1% interest rate policy pursued following the NASDAQ bubble collapse. While home owners were the primary losers from the last Federal Reserve policy blunder, all owners of fixed income assets, especially banks, will suffer from the Federal Reserve’s current intervention. Full Story
Perhaps one of the most preposterous statements made during the ongoing financial crisis was by Ben Bernanke when he stated that we would have a ‘jobless recovery’. Certainly this is not a new term, but that doesn’t change the fact that in concept, the idea that a real recovery can occur with rising unemployment seems pretty ludicrous. Again, the devil is in the details and it all comes back to how you define your terminology and ask “A recovery for whom?” Full Story
JUST IMAGINE – two things you think can't possibly happen together suddenly happen together. Say like Coca Cola re-launches New Coke, but people actually like it. Would that mean the laws of physics had been repealed? Or would you need to change what you think...? Full Story
By: Adam Hamilton, Zeal Intelligence LLC - 16 October, 2009
The ultimate key to success in all trading, both long-term investment and short-term speculation, is simple. Buy low, sell high. Excel in this, and trading the financial markets will eventually make you wealthy. But implementing this well-known proverb into your own trading certainly isn’t easy. As always, the devil is in the details. Full Story
Summing up, the precious metals market bull market is healthy, virtually regardless of the currency that one decides to price gold/silver in. Naturally, the chart will look differently from the one including gold/silver priced in U.S. Dollars, but if you take the long term into account, it is clear that since 2006 gold has been rising not only in USD... Full Story
The Litany of Negatives which, some days, seems to overwhelm honest observers of the Economy and Markets, should be counterbalanced by consideration of certain Positive Realities. While these Positive Realities will likely not endure for more than a few months, or a very few years, their existence now can be used to enhance gains and protect against future adversities. Full Story
By: Andrew Mickey, Q1 Publishing - 16 October, 2009
The US dollar index is down 16% from its March highs and the Fed has not come out and said it’s going to defend the dollar. Also, Britain’s central banker has deemed any further devaluation of the pound to be “helpful.” That’s why gold and silver have done so well lately. And the future is looking even brighter. They were, are, and will likely continue to be a few of the best places to protect yourself from the long-run impacts of dollar devaluation ($200 oil and GDP growth of 1% anyone?). Full Story
Former Federal Reserve Chairman Alan Greenspan is the worst Fed boss in history, but boy-oh-boy how we loved to watch him smile. We were so attracted to Mr. Greenspan’s girlish grin, in fact, that he could say just about anything and people would eat it up: “I guess I should warn you, if I turn out to be particularly clear, you've probably misunderstood what I've said”. How delightfully playful! He really must be the world’s best central banker! Full Story
If our assessment is correct (and we no reason to believe that it is not), then the least you can do is allocate a large portion of your wealth to the energy sector. However, given the realities of ‘Peak Oil’, we do not recommend exposure to the oil majors as their reserves and production are in decline. On the contrary, we urge you to invest your capital in quality upstream oil/gas companies and businesses involved in the energy services sector. Full Story
By: David Morgan, Silver Investor - 16 October, 2009
I would be much more comfortable saying this is the final blast-off if silver were hitting $21.00 right now as gold is trading over $1,000—that would be confirmation in my book, and I’d be very, very bullish. Unfortunately, silver isn’t leading the charge at this time and that is acceptable. Full Story
By: Rick Ackerman, Rick's Picks - 16 October, 2009
December Gold has sold off mildly so far after peaking within inches of a 1074.50 rally target drum-rolled here a while ago. We see little reason for concern, since the futures would need to fall all the way to 983.10 to create room on the daily chart for doubts. Actually, we’d view any pullback into the range 1057 (already achieved) - 1019 as a terrific buying opportunity, since it would take only a $20 booster rally thereafter to set gold in motion toward the next key threshold, 1134. Full Story
The heralded end to the Petro-Dollar defacto standard completes the loop, the vicious cycle that will work to destroy the USDollar. In a sense, the US$ had to face an end, its sunset guaranteed when Nixon defaulted on its redemption value. The United States served as custodian for the global reserve currency. Naturally, the most damage will be to the US as a consequence of its twilight, especially after the recent era of fraud & counterfeit. Full Story
These circumstances suggest that a VERY REAL physical short squeeze is in progress RIGHT NOW and a gang of fraudsters from “fiat-crack-houses” [Central Banks] are attempting to finesse their losing over-sold hand in an elaborate Three-card Monty. With reports of independent physical audits now being conducted and mysterious happenings with GLD’s bar list – GLD has NEVER looked more suspect. Full Story
When Roosevelt issued his infamous 1933 presidential diktat, forcing delivery (confiscation) of gold owned by private citizens to the government in exchange for compensation, gold was $20.67/oz. In January 1934, the price was raised to $35/oz and the U.S. government pocketed the difference – and essentially devalued the dollar by 69%. Full Story
Gold has held above US$1,030 for 7 days now which is a good sign and I expect this price action to follow through higher due to fundamental forces. There is no technical reason to disagree either as I see no sign of negative divergence. The fact that gold can do this when it is no friend of the powerful dominant banking institutions is quite a feat. Full Story
Despite our reservations in the short term, we are very bullish on silver longer term. More importantly, we believe that the next big move up in silver is about to begin. Not tomorrow, not next week, but in the medium term, say next couple of years, we should see silver at much higher prices, perhaps on the order of a double the current level. Full Story
By: Sol Palha, Tactical Investor - 15 October, 2009
We are not long term dollar bulls, but we feel that dollar is due for a relief rally as it has mounted a very strong correction in a relatively short period of time. We felt the same way from late 2007 to early 2008 and went on record to state that the dollar would mount a very strong rally that would catch the majority with their trousers down. Full Story
If you wanted a more potent symbol of the rise of gold among retail investors then the news that London department store Harrods is to sell gold coins and bullion over the counter from today is surely just that. Full Story
By: David Coffin and Eric Coffin - 15 October, 2009
Press rumors of planning meetings to shift crude pricing away from the US$, plus a 0.25% increase in Australia’s bank rate, has put some serious bounce in gold and silver prices. The yellow metal has convincingly moved past its old high, in US$ terms, and we expect that move to continue. Whether the details of the meetings reported in London’s The Independent are accurate in every detail or not, markets have had no problem accepting the basic point that the greenback cannot expect long term support as the globe’s reserve currency. Full Story
By: John Browne, Senior Market Strategist, Euro Pacific Capital - 15 October, 2009
Earlier this year, I predicted that the 2009 rally in U.S. stocks could bring the Dow Jones Index as high as 10,000. It looks like that level has been achieved. If, at this point, the index reverses course, I would have made a fairly good prediction. Full Story
Since last week not much has changed in my thought process regarding gold. Gold has moved to all time highs which is in line with the 15-year cycle, which calls for a short term peak in prices now. Full Story
George Ure’s www.UrbanSurvival.com has frequently referred to the work of physicist Dr Cesare Marchetti (with CERN/International Institute of Applied Systems in Austria) on his study of trend lines in various types of analyses. Per Ure, Dr Marchetti has postulated something called the S curve to explain trend lines and decision points; which, per Ure, can be applied to financial markets and decisions on buying and selling. Full Story
Commodities and stocks have been on fire the past two weeks and I think it just may be time for things to take a breather. While I continue to stay long, taking some money off the table to lock in profits is a safe play. Full Story
By: Rick Ackerman, Rick's Picks - 15 October, 2009
Read them and weep, all ye despairing bears! The chart below shows a wicked “island gap reversal” in the share price of Goldman Sachs, and it is as much proof as anyone should need to infer that yet more weeks or perhaps even months of false spring await U.S. stocks. Full Story
By: Bill Bonner, The Daily Reckoning - 14 October, 2009
Gold is in a bull market. How far it will go and how long it takes it to get where it is going, no one knows. No one knows, either, how many scrapes and setbacks it will suffer before it finally reaches its destination. But it is a bull market. And you don’t ask questions in a bull market. You get on board and ride it to the end. Full Story
U.S. stocks are up again today, bringing the S&P 500’s bounce off the bottom to 63%. All those buy-and-hold 401(K) investors (and the advisors who told them to hang in) are breathing a sigh of relief and hoping that “normal” times are here again. Full Story
By: Bob Chapman, The International Forecaster - 14 October, 2009
Our view is that the elitists are currently buying time for the dollar, and stalling the rally in precious metals, by weakening other currencies until they are ready for the big stock takedown/correction. This process of supporting the dollar is becoming extremely expensive and difficult, so they had to take the Dow down 200 points on Thursday to start some stock contagion in Asia and Europe to flush some money into dollars and treasuries. Full Story
By: Rick Ackerman, Rick's Picks - 14 October, 2009
Stocks were going bonkers early Tuesday evening, presumably celebrating better-than-expected quarterly earnings from Intel. The chip maker announced after the close that business has been strong, driven mainly by back-to-school purchases of notebook computers. Full Story
By: The Gold Report and Peter Spina - 13 October, 2009
The convergence of an assortment of forces—probably the least compelling of which is jewelry demand and the possible role of gold in oil transactions probably the most powerful—promise to keep driving up the price of gold, according to GoldSeek.com founder and president Peter Spina. Full Story
It's fascinating how many economists and bankers argue against the re-establishment of gold as an official monetary standard. An analysis of its price performance over time relative to G7 currencies demonstrates that, as a barometer of national currency health, there is nothing more reliable. Full Story
At the risk of getting ahead of myself prior to being able to confirm the turn, I am suggesting stock market action over the past week bears the distinct odor of a bull trap, with even informed technicians still waiting for a push to 50% retracements on the indexes. Full Story
By: Steven Saville, Speculative Investor - 13 October, 2009
It is very likely that two ultra-long-term trends reversed direction over the past two years, the first being the expansion of private-sector credit in the US and the second being the contraction of the US savings rate. The trend reversals are, of course, inter-related, in that the new trends towards less debt and more savings are being driven by economic hardship in the present and the revelation that the economic future will not be as rosy as previously thought. Full Story
Our chart this week is of Federal Reserve Bank Credit, the base fuel for U.S. money supply. The blue line, using the left axis, is the total of that monetary base, adjusted. Red line, using the right axis, is the year-to-year change in that monetary base. Full Story
By: Rick Ackerman and Rich Cash - 13 October, 2009
The inflation/deflation discussion in the Rick’s Picks forum has attracted some interesting comments -- none moreso than this one from our Lake Tahoe friend, retired Merrill fund manager and investment maverick Rich Cash: Full Story
I was careful to say that the coming announcement of the actual number of contracts for hard position limits in most commodities would be anti-climatic. That’s because the current accountability limits do not appear to be excessive. There is one market, however, in which the announcement will be of high drama, no matter what the proposed number. I speak of COMEX silver futures. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 12 October, 2009
Remarks by Chris Powell Secretary/Treasurer Gold Anti-Trust Action Committee Inc. New Orleans Investment Conference Hilton Riverside Hotel Thursday, October 8, 2009 Full Story
To be completely honest, it is not me who is the greatest. Of course, it is Mohammed Ali who is the greatest. And I may not even be the greatest economist. That honor has to be shared with those few gold bugs who foresaw the break above $1,000 and who kept their subscribers long gold and gold stocks. Full Story
I recently received an e-mail asking about the price of gold. This person presented two gold-pricing models in the body of the e-mail along with an estimate of what price gold might command in the future in dollars. Let’s examine the gist of what he wrote and provide an extended reply. Full Story
United States legal tender nickels present an almost completely risk-free investment. Getting a large 5 gallon bucket and tossing in the nickels from your daily change is an excellent way to preserve your purchasing power, protect your wealth and reduce both counter-party and payment risk. But due to increasingly despotic threats and actions by the United States government this avenue for wealth preservation is being threatened. Full Story
If you're not into technical analysis, you're not into it. I understand. Drawing squiggles on a chart seems like reading tea leaves to many. I get it. I personally believe that it increases your odds of success if you have the fundamentals right. In other words, technical analysis in isolation is not attractive to me, but laid over a solid foundation of fundamental analysis makes sense to me. Full Story
The designation of American citizens as “consumers” was always a little bizarre, but now it seems dangerously archaic. A nation of people who buy things will always lose out to people who create things, or who adhere to and spread an ideology, or who save and invest. Duh. Full Story
Dow Jones Commodity Index Fund – This index tracks the entire commodity market as a whole. Over the past two years we have seen commodities drop in value substantially. The good news is that we could be seeing prices rise going forward from here. Full Story
By: Rick Ackerman and Chuck Cohen - 12 October, 2009
Are U.S. stocks and gold about to scream higher? Our good friend Chuck Cohen, a NYC-based consultant specializing in gold shares, thinks so. Although Chuck’s outlook is more dramatic than our own, we find his arguments quite plausible. Here’s Chuck, a bear turned unapologetically bullish, with some advice for investors -- especially those who have been wavering about taking the plunge in mining stocks. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 11 October, 2009
The G-20 meeting last week was hoped to be a watershed for the global economy. It was hoped that accepted that there has to be a global solution to the financial crisis that triggered the credit crunch and the worldwide recession. Full Story
Gold broke through new historic highs this week as the dollar remained weak across the board. James Turk, founder & CEO of GoldMoney, considers the outlook for gold. Full Story
By: Bob Chapman, The International Forecaster - 11 October, 2009
The number of Americans filing first- time claims for unemployment benefits fell last week to the lowest since January, a sign the labor market is deteriorating more slowly as the economy emerges from the recession. Full Story
By: Jason Hommel, Silver Stock Report - 11 October, 2009
I don't know why people don't get this. Math matters. To engineers, it's life and death when building a bridge. You'd think that the world's engineers and math teachers would be screaming at the top of their lungs to get people to buy gold, simply because of the implications of the math. Where are they? The thing I don't understand is why most people refuse to run the numbers. And why don't they understand the implications of the numbers that I present? Full Story
The XAU Gold Silver Index closed 1.38% higher on Thursday, Oct. 8, at 177.22. The Gold Bugs Index (HUI) was 1.43% higher at 449.61. October gold closed 1.14% higher at $1,056. December silver was 1.80% higher at $17.81. Gold is at an all-time high and the XAU index has recently achieved a new recovery high for the year. Full Story
By: John Mauldin, Millennium Wave Advisors - 11 October, 2009
Today we look at the possibility that the fiscal path of the enormous US government deficits we are on could indeed kill the goose, or harm it so badly it will make the lost decades that Japan has suffered seem like a stroll in the park. Full Story
This blog has been a place where caution and an awareness of risk have been amplified in recent months. Now that NFTRH has entered its 2nd year, we can look back at documented material to see if the writer has walked the walk (of appropriate bullishness) or is simply a perma-bear. Full Story
By: The Energy Report and Mickey Fulp - 11 October, 2009
Shifting gears from gold to energy, Mercenary Geologist Mickey Fulp focuses on the latest rage: rare earth elements (REEs). In this exclusive interview with The Energy Report, Mickey discusses China's monopoly on REEs and the resultant shock waves still rocking Western industrialized countries and Japan. While fear of China protectionism looms, Mickey sees plenty of opportunity in "cream-of-the-crop North American companies" that are presently undervalued. Full Story
With gold at all-time highs many investors are worried about buying and rightly so. I think gold will be moving towards the $1,500 level over the next three to six months. Then I expect a correction back to near these levels and perhaps even piercing the $1,000 level on the downside briefly and slightly. Full Story
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