Back in the 1960s, a clever but financially disadvantaged fellow placed a small ad in a national magazine that read something like: Money needed. Please send $1 to the address below. Do it today! No specific need was given, and nothing was promised in return, so that fraud could not later be charged. Full Story
YOU ALWAYS get great presentations from the biggest players in gold and silver at the annual London Bullion Market Association conference. Being in Hong Kong this year, the world's premier event for the bullion industry also got lots of great insights from genuine Asian insiders – ICBC, Kotak Mahindra, the People's Bank of China no less. Full Story
By: The Gold Report and John Mauldin - 16 November, 2012
Investors could be in for a bumpy ride the rest of the year as politicians navigate a difficult path toward a solution to what is being billed as the fiscal cliff of $720 billion in expiring tax cuts and mandatory spending cuts. In this interview with The Gold Report, John Mauldin, author of Thoughts from the Frontline, shares his insights on some of the possible twists and turns ahead and how investors can brace themselves for whatever comes. Full Story
By: Adam Hamilton, Zeal Intelligence - 16 November, 2012
With the US stock markets falling sharply since the elections, shell-shocked investors are scrambling for the exits. And this mass exodus is certainly rational in light of 2013’s record tax hikes looming for American investors. But with interest rates near record lows, cash yields nothing and bonds are hyper-risky. So a fantastic alternative for capital is the precious metals, which are very cheap technically. Full Story
Stock exchange is a very volatile, emotion-driven place. Even though most of the time one can predict future moves in particular assets with decent effectiveness, every once in a while abrupt and unexpected market moves take place. And we have just seen such violent and heavy declines in precious metals mining stocks. Full Story
There is a Bullish Inverted "Head and Shoulders" pattern on the daily chart. What makes this pattern so attractive on the next breakout above 32.94 is the fact that all of the Open Interest that was put on to the short side of the contract in Silver over the past month will be in the “red” and feeling pressure to exit the trade before it gets too late. Full Story
We disagree with media reports that China's new Politburo Standing Committee is dominated by relatively conservative members. What we see is a complete defeat of current President Hu's Chinese Communist Youth League (CCYL) clique and a victory of retired President Jiang's Shanghai clique. In recent days, Jiang's unusually frequent and high-profile public appearances suggest he is still highly influencing policy making and senior official appointments. Full Story
By: Gary Dorsch, Editor, Global Money Trends - 15 November, 2012
Texas Republican Ron Paul’s maverick crusade to “audit the Fed”, and to rein-in the “fourth branch” of the US-government, suffered a major blow in the wake of the November 6th elections that saw President Barack Obama prevailing over his Republican challenger Mitt Romney. Adding insult to injury, the Republican Party not only failed to secure a majority in the Senate, but it lost 2-seats. Mr Paul is the author of a bill to audit the clandestine activities of the Fed that passed the House by a 327-98 vote on July 25th, exceeding the two-thirds majority needed. Astoundingly, 89 Democrats joined 238 Republicans to approve it. Full Story
Recent days have seen a blizzard of Microsoft-related activity, as a host of new products has blanketed the marketplace. First and foremost: the release of Windows 8, the most radical change in MS's flagship operating system in 17 years. The Redmond behemoth wants you to switch over, and fast. If you don't want to swap your old computer for one with the new OS pre-installed, the company has put an attractive $39.99 price out there for an in-place, downloadable upgrade (or $69.99 if you want a disc mailed). Full Story
By: David Nichols, Fractal Gold Report - 15 November, 2012
Mark Twain wasn’t writing about the gold market when he made his famous quote about historical recurrence, but he could have been, as the gold market has been “rhyming” every 21 months. Every 21 months there has been a major peak in the gold market, going back to the start of this bull market, over 13 years ago. Gold is now 8 months from the next scheduled 21-month peak, which should arrive in July 2013. Full Story
On demand side, the global economic recession caused platinum demand in the car and jewelry sectors to enter a cyclical downturn. However, a substantial supply reduction due to the labour strife in South Africa moved the platinum market from surplus to deficit over the course of 2012. The writing is on the wall: new supplies from stable jurisdictions like Canada are necessary and, as the trend toward their development and acquisition begins to develop, these new suppliers and potential suppliers will arouse increasing attention from investors. Full Story
This begs the question, how do you prepare? Perhaps we should cash out all paper investments, buy gold, and hunker down on rural farmland. This will not work for most people. Further, while most people know much is wrong in our economy, they are not ready to abandon their current lifestyle. The problem is that by the time it becomes clear that economic disaster is upon us, it will be too late for most people to protect themselves. A partial solution is simply to buy physical gold and silver – NOW! Full Story
No gold mined in either China or Russia is sold on the open market. All gold mined in China and Russia stays in that country. Clearly, the East has a different strategy than the West and gold is a critical part of that strategy. The West, however, is primarily concerned with protecting the economic system, i.e. capitalism, which allowed it to conquer and exploit much of the world for almost three hundred years. Such leverage is rarely come by and the fact that it may be ending has only redoubled Western efforts to save it. Full Story
I'm just going to do a quick post today. The relevant factors are that gold appears to have put in an intermediate degree bottom last week. Miners are being dragged down at the moment as the stock market makes its final move into an intermediate bottom. This happens pretty much like clockwork every 20-25 weeks (currently on week 23). Full Story
By: Rick Ackerman, Rick's Picks - 15 November, 2012
A stall has turned into a power dive on Wall Street, with some bellwether stocks plummeting toward key supports flagged here a short while back. One of those stocks, IBM, actually breached a “midpoint Hidden Pivot” support yesterday at 187.78, and that spells more rough days ahead for bulls. The actual low at 185.25 was not far beneath our proprietary support, 187.38, but the latter number should have held very precisely for the stock to avoid yet more carnage. Now, it looks like IBM will fall a further $8, to at least 177.56, before it will have another chance to gain traction. Full Story
By: Ira Epstein, The Linn Group - 14 November, 2012
Since my last report the US election has been decided, China completed putting its new government in place and Greece continues as an open wound. Open splits in the troika are in full view. The IMF wants to take a different path than that of the EU and European Central Bank. The IMF understands that a two year extension to Greece without deflating the base amount of debt Greece is paying interest on is a plan that will not work. The IMF wants debt to be written down and the EU and ECB are strongly against doing so. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 14 November, 2012
As we get closer to the end of 2012 we start to look forward to 2013 and beyond. Hopes and dreams must always be tempered by the stark spotlight of today’s realities. Nothing can happen unless it is based on today’s present world structures, events and leaders in politics, and money. The first major point we have to recognize is the structures we see around us, within which everything is bound together, together with the current leaders and their will for the future –these things will shape the years ahead. Full Story
Excessive leverage and risk in the financial system, e.g., using customer funds to speculate, never ends well. Stock market crashes, bank and investment firm failures or economic recessions are all potential consequences. Following the failure of the United States to regulate over the counter (OTC) derivatives and the repeal of the Glass-Steagall Act, U.S. banks became the largest financial business entities in history. The U.S. real estate bubble, sub-prime lending and mortgage backed securities (MBS), along with unregulated OTC derivatives, then lead to bank insolvencies, a historic stock market crash and a near collapse of the global financial system. Full Story
By: The Gold Report and Rodney Stevens - 14 November, 2012
Rodney Stevens, portfolio manager at Wolverton Securities, believes investors speculating in precious metals must be disciplined to avoid gambler's ruin. While "disciplined speculation" may seem like a contradiction, it is key to Stevens' approach. Through both technical analysis and fundamental analysis, and a careful read of intermediate trends, Stevens has developed a concentrated portfolio of precious metal companies held both long and short. In this Gold Report interview, he shares where the sweet spot in the mining space is and advises how to limit portfolio risk. Full Story
To conclude, the real price of gold is trending bullish which implies good times ahead for precious metals in the coming months. The poor outlook for oil and industrial prices is a good thing for gold and silver producers as their margins could expand even further in the quarters ahead. The correction that began at the end of September is likely within days of ending. Now, with mining equities trading off their highs is the time to do your research and find the companies that will lead the next leg higher and outperform the gold stock sector. Full Story
Modern financial theory dictates that sovereign bonds are the most “risk free” assets in the financial system (equity, municipal bond, corporate bonds, and the like are all below sovereign bonds in terms of risk profile). The reason for this is because it is far more likely for a company to go belly up than a country. Full Story
By: Rick Ackerman, Rick's Picks - 14 November, 2012
For gold investors, first the bad news – and let us be clear up front: it’s not really that bad. Notice in the Comex chart below that the price of gold has been meandering within a pennant formation for more than a year. You don’t have to be a technician to see that this could comfortably continue for some time – well into 2014, perhaps – before the converging lines of the pennant will narrow sufficiently to force gold to “escape” either up or down. You can relax about which direction is the more likely, since the pattern so far looks like a classic consolidation, tipping the odds toward a breakout rather than a breakdown. Full Story
By: Peter Schiff, CEO of Euro Pacific Capital - 14 November, 2012
Peter Schiff released his latest video: "Is a college degree worth it? You decide." Interviewing various bouncers, bartenders, pedicab drivers and other low-skilled workers along Bourbon St. in New Orleans, Peter found almost everyone had an expensive college degree. And not meaningless ones, either. Full Story
The most important implication from this chart is not what will happen to the dollar but rather the relationship with gold and silver. The precious metals rallied today and last week even without a decline in the USD Index. In fact, the index moved a bit higher last week, but the metals soared strongly. All-in-all, this is a very positive sign for the precious metals sector. Full Story
I think the daily gold chart is beginning to look it was painted by Renoir. Gold is range trading between about $1550 and $1800. There have been 3 touches of the $1550 area, and 3 of the $1800 area. I believe the situation will be resolved with a strong penetration of resistance at $1800. That should usher in a trending move that could take gold to $2100. Full Story
By: John Mauldin, Millennium Wave Advisors - 13 November, 2012
“If you want to enjoy life, go to Buenos Aires. If you want to do business, go to Sao Paulo,” the saying goes. It is hard to get an impression of a country by going to a city of 20 million people. It is like visiting New York City and thinking you can understand the United States. But I never fail to enjoy myself in Brazil. While it is clearly a Latin culture, the country has become serious about the business of business. Full Story
By: Richard Daughty, The Mogambo Guru - 13 November, 2012
And if you are not buying gold, silver and oil with every dollar you have, and with every dollar you can weasel out of your wife's purse, or with every dollar gotten by shortchanging the kids on their allowances, then there is something very, very wrong with you, and you should see a therapist of some kind, or at least wear a sign around your neck that says "I am stupid!" so that people will have pity on you instead of laughing at you. Full Story
With the U.S. presidential election out of the way, the economy has taken center stage lately and for good reason: the economy typically benefits during a presidential election year while the 4-year Kress cycle is also peaking. The latest economic reports strongly indicate that the U.S. consumer has benefited (or at least feels he has benefited) from this year’s presidential cycle and the loose money it typically brings. Full Story
Last month, a group of Australian scientists published a warning to the citizens of the country and of the world who collectively gobble up some $34 billion annually of its agricultural exports. The warning concerned the safety of a new type of wheat. Full Story
THE ANNUAL conference of the London Bullion Market Association – the "premier professional forum for the world's bullion market" as Haywood Cheung of the 100-year old Chinese Gold & Silver Exchange put it this morning – is taking place right now in Hong Kong. Full Story
Currently the REAL World Series of Poker (WSOP) is a currency war with far greater implications and consequences for every human being on earth than the one that plays out in Las Vegas every year. We have been warning people about the global Central Bank currency wars for 6 years on our blog now. Full Story
We exited our short positions in gold for a modest but useful profit when it broke out of its downtrend towards the end of October. It then broke sharply lower on heavy turnover in a move that looks capitulative, but afterwards turned and rose quite sharply over the past week. So the question now is “has it bottomed?” Although the answer to this question is “Yes, it looks like it has”, it also looks like it may back and fill for a little while to complete a base pattern before a sustained advance can get underway. Full Story
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