So far, it’s unfolding like I thought it would. But from here on out there are 2 scenarios that could happen over the coming weeks and months. In either unfolding scenario, we are prepared to act. For those new to the program (and those catching up), let’s take a look at how gold does during bad market conditions. Full Story
Imagine, if you will, there was no coronavirus. No haz-mat suits, medical masks & gloves, no make-shift morgues. No terminally ill patients hooked up to ventilators, no horrible deaths without love ones close, no lockdowns, no social distancing, no deserted streets, no bailouts, no emergency wage supplements, just a regular spring with birds chirping and flowers blooming. Full Story
Silver is blasting higher after mid-March’s stock-panic-spawned near-crash. This normal oversold mean reversion looks like the start of something much bigger though. Speculators’ positioning in silver futures utterly collapsed, leaving massive room for them to buy back in. And silver investment buying since the recent lows has been strong and relentless. All this argues that a big new silver bull market is starting to run! Full Story
By: Steve St. Angelo, SRSrocco Report - 17 April, 2020
The collapse of global oil demand has impacted the price of Canadian Oil Sands to such a degree, the price of a barrel is now cheaper than a 12-pack of Coke purchased at Walmart. According to oilprice.com, the current price of a barrel of Western Canadian Select (oil sands) is $4.47 versus a 12-pack of Coke at Walmart for $5.08. Full Story
Two extraordinary and unprecedented actions are being taken in the attempt to contain the economic damage from the national shutdown, and thereby attempt to prevent a depression. Each are on a scale we have never seen before, and each are almost certain to be very long lasting. Full Story
The metals markets are being pulled in multiple directions simultaneously like never before. The global virus-triggered economic freeze has caused industrial demand for all commodities to crater. At the same time, mining output is also crashing as virus fears force many mines around the world to suspend operations. Full Story
FedMed proved dead awhile ago with the whole Bulls team looking dead on the field, until Team Trump, the owner’s club, joined Coach Powell. Then Powell’s coaching team upped its game; and, finally, the Wall Street Bulls revived. “Big deal!” the Bears now yell. “Let’s get back to playing ball!” All the government juices served in the Bullpen may have floated the dead Bulls into another rally. Yay Bulls! But they’re dead, even if they dance like phantoms. Full Story
Wednesday closed at 2768.75 on the ES, around the range low support of the session after "stick-saving" at the 2750 area. As you can see on the daily chart, price action is still grinding up in an accelerated manner via the daily 8EMA. This is important because the bears have tried to breakdown twice now during this week and have no decisive follow through, so we are aware of high-level consolidation/bull flag potential. Full Story
Yes, COMEX prices for silver in fake money—fiat debt-based dollars—fell to $11.77 on March 18. However, prices rose to over $16 on April 14. But each silver eagle remains an ounce of real money that has been valuable for centuries and will stay valuable for many more decades, regardless of how many paper contracts are dumped on the COMEX to lower prices. Full Story
2011-2020 is the first decade in Foster’s table where no currency has yet failed. I doubt 2021-2030 will be the same. The present order is failing. A better world is coming. Be patient. Buy gold, buy silver, have faith Full Story
These are dark times for The Bullion Banks. Their Fractional Reserve and Digital Derivative Pricing Scheme is in great peril as refineries, miners, and mints all shut down in response to the coronavirus pandemic. Will these Banks be able to scrounge up enough physical metal to keep their scheme afloat through June? That remains an open question. Full Story
Gold and gold stocks are among the highest performing assets of 2020 so far as investors seek a haven amid the coronavirus-fueled rout, and as central banks and governments around the world roll out unprecedented monetary and fiscal measures in an effort to mitigate the economic impact of the “Great Lockdown.” Full Story
First, you are likely viewing this “bear market” as having begun 6 weeks ago. Yet, if you actually understood the broader market in a bit more depth and better context, you would actually be viewing this “bear market” as having begun in early 2018. This is actually supported by the great majority of the stocks underlying the market. Full Story
As a former partner of Goldman Sachs (GS) and current gold industry executive, it came as no surprise when dozens of customers and colleagues reached out to me this week to get my take on the latest research note from GS’s Investment Strategy Group (ISG). In its note, ISG responds to a number of GS’s wealth management clients who had inquired about adding gold to their portfolios during these unprecedented times. In short, ISG stated that GS does “not recommend gold as a strategic asset class in a well-diversified portfolio.” Full Story
Glorious price action lies ahead for the miners. As one crisis morphs into another (war or just significant stagflation), there’s a strong probability that GDXJ takes out the $50 area highs. From there, I’m predicting an immediate rocket blast towards major league resistance at my $63 target zone, and then an assault on the all-time highs near $145! Full Story
With natural disasters there is usually a beginning and an end, although the economic effects might linger for longer. So, what are natural disasters? They include earthquakes, floods, fires, hurricanes (aka cyclones or typhoons), tsunamis, heat waves, cold waves, volcanic eruptions, blizzards, ice storms, droughts, tornadoes, avalanches or landslides, hailstorms, and, yes, even thunderstorms. Full Story
The best performing precious metal for the holiday shortened week was silver, up 7.26 percent, likely on the waves of money printing that’s just getting started. Gold rose above $1,700 an ounce for the first time since 2012 on Tuesday after March’s panic selling to raise cash has subsided. ETFs backed by gold added 263,504 troy ounces on Wednesday, bringing net purchases for the year so far to 9.06 million ounces. According to Bloomberg data, this is the 13th straight day of growth. Full Story
All of their projection models were wrong. And investors should be skeptical of any particular projection models for the economy or financial markets. They will all be wrong to some extent. But investors can be confident that a portfolio diversified into gold and silver will mitigate downside risk in stocks and other paper assets – while also providing added upside potential, especially as inflationary pressures build. Full Story
The Fed’s latest actions demonstrate that there is no way that they are going to let the forces of deflation prevail, however many trillions they have to spirit into existence to throw at markets in an effort to prop them up, which is kind of understandable given the appalling severity of the prolonged depression that would follow. They are clearly electing the hyperinflationary route as the lesser evil because it keeps them in power for longer, although hyperinflation won’t hit until the velocity of money picks up – currently it is zero because of the economic freeze. That has to be positive for gold, which is the ultimate store of value and for its currently grossly undervalued sister metal silver. Full Story
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