By: The Gold Report and Ian Preston - 19 October, 2012
Gold equities are in competition with gold ETFs for shareholder dollars. In this exclusive Gold Report interview, Goldman Sachs Managing Director Ian Preston discusses the steps gold companies must take to pull investors back from the ETF space and shares Goldman Sachs' outlook for the gold price over the next year or so. Full Story
By: Doug Hornig, Casey Research - 19 October, 2012
In Mike Judge's wicked 1999 satire of corporate culture, Office Space, there's a delightful character named Milton. Poor Milton. He's all but invisible. No one likes him, no one talks to him, and coworkers are forever stealing his stapler. Management doesn't notice him enough to fire him. Instead, Milton is shunted from desk to desk, each time losing more of that precious commodity denoted by the film's title, until he finally winds up alone in the basement, where he plots the delicious revenge he'll take on the company. Full Story
By: Adam Hamilton, Zeal Intelligence - 19 October, 2012
With the US stock markets near major multi-year highs, traders are naturally very optimistic. Predictions abound for a continuing advance to new all-time highs. But behind this happy facade, the secular picture is actually quite bearish. The powerful stock bull of recent years appears to be topping in recent months. This means the odds are ballooning that a new bear market is being born or soon will be. Full Story
By: Richard (Rick) Mills, Ahead of the herd - 19 October, 2012
The issue of Canada diverting part of its fresh water resources to the US has never been on, or has long since faded off most Canadians radar screens, but the country with the world’s largest economy is also the world’s largest producer of corn, soybeans, and wheat. The US accounts for one in every three tons of the grains traded globally - the United States is literally the world’s bread basket. Full Story
And we also agree that it is unlikely Silver will be pushed below $30 an ounce either. In sum, the upside is Tremendous for both these Monetary Metals, Trumping the “Tricks” of inadequate MSM and Official “News” reporting via independent information sources, is the road to Profitable Treats. Full Story
In the chart, a correction now appears to be underway with gold reaching its 2012 high, and the correction does not appear to be over yet. The 200-day moving average (blue-sloping line) has provided support in the past and it seems that it will stop the current decline as well. The declining support line based on 2011 and 2012 highs is also just a bit below Thursday’s price level. In fact these two support lines intersect at approximately 62 level and this is where we expect the decline to end. All in all, this means that the correction – seen from this perspective - is about halfway done. Full Story
By: Ira Epstein, The Linn Group - 19 October, 2012
While I expect prices to end the year higher than prices were on July 26th and therefore to end 2012 higher on the year, at this point there’s little reason to do anything because the Daily Chart is bearish, the Weekly Chart is still hanging in a bullish mode that might be lost with a weak weekly close but a bullish Monthly Chart. Full Story
What kind of batter crowds the plate after a pitcher has aimed a fastball at his head? “Batters” have been doing it routinely on Wall Street lately — most recently yesterday, when they held the broad averages buoyant while Google shares were getting pasted for 80 points. During this single-stock onslaught, the Dow Industrials were never down more than 50 points and closed off only slightly with GOOG still $53 in the hole. Full Story
By: Marin Katusa, Casey Research - 18 October, 2012
In the third century, greed got the best of Rome's emperors. As they spent through the silver in the treasury, one emperor after another reduced the amount of precious metal in each denarius until the coins contained almost no silver whatsoever. Full Story
In my last article I warned traders that markets, especially gold, were at risk of a profit-taking event. This was due to the fact that the dollar had found an intermediate bottom and begun a counter trend rally. I think the second stage of that rally is probably beginning today. I'm looking for the dollar index to test the downward sloping 200 day moving average before rolling over and continuing the secular trend. Full Story
We expected a correction after the gold and silver shares ran into predictable resistance that coincided with October seasonal resistance. That was predictable. Now we are 19 days into the correction and we see some stealth signs of strength and signs of the correction nearing its end. Full Story
The resource investment conference, routinely described by CEOs and attendees alike as “the best silver conference in the world” will feature over 70 silver exploration, development and production companies. Panelists will address investment opportunities, and the ever-expanding uses of silver in modern society as well as its historic role as money and a store of value. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 18 October, 2012
The Gold Reserve Act describes its objective as "an orderly system of exchange rates." Any administration almost certainly would construe that objective as an exemption from anti-trust law and I doubt that any court would have the nerve to disagree. Full Story
By: Richard Daughty, The Mogambo Guru - 18 October, 2012
If I was a betting man, a hard-core gambling man, I mean a real long-shot kind of man greedily looking to make a ton of money in a hurry, using minimal investment, without doing any work, I would start accumulating out-of-the-money SP500 put options and/or short futures, starting right around in here someplace. Full Story
By: The Gold Report, Brent Cook and Dr. Quinton Hennigh - 17 October, 2012
In today's fast-paced market, investors sometimes forget that mining is an intricate and time-consuming science experiment. Investors who can stomach the risk and the wait are generally the ones who profit the most. Brent Cook, editor of Exploration Insights newsletter, and Quinton Hennigh, a geologist and contributor to the newsletter, believe that investments in prospect generators have yielded some of their best investments, plodding along slowly to unearth some often spectacular projects. Full Story
The Gold price has been doing important technical work for the last month. On the surface the price movement looks boring if not weak, with lost momentum. That is typical of the brief phase when consolidation takes place, while building the right side handle. The downside risk is to 1720 (daily basis) or 1750 (weekly basis), really no big deal. The recently announced and detailed QE3 initiative is incredibly bullish for Gold, providing the bull market the most wonderful fuel that is supercharged by the permanent 0% rate. Full Story
While the media world is abuzz with last night’s Presidential debate, I’d like to cut through the noise and present you with two truly staggering facts that need to be kept in mind as the backdrop for the US Presidential Election. Full Story
Are Gold and Silver preparing for another upside breakout? The battle is between the bullion banks with large short positions; and investors and hedge funds, (along with Asian central banks), that are protecting all or part of their net worth by owning some gold. It has been eleven weeks since my last article. In that article titled: “Gold and Silver Update” I indicated that the summer doldrums appeared to be over. Gold was trading at $1620 and silver at $28.03. Full Story
By: Steve Saville, The Speculative Investor - 17 October, 2012
The US Presidential Election will be held on Tuesday 6th November and the election results should be known by the time the US financial markets open for trading on Wednesday 7th November. Is there anything that investors around the world should be doing in preparation for the possible outcomes of the election? Full Story
Doubling down on QE3, the Federal Reserve (Fed) Chairman Bernanke tells China and Brazil: allow your currencies to appreciate. One does not need to be a rocket scientist to conclude that Bernanke wants the U.S. dollar to fall. Is it merely a war of words, or an actual war? Who is winning the war? Full Story
When the U.S. Dollar Index peaked at 120.51 in January of 2002, few suspected that it was on the brink of a one-directional correction that would ultimately erase a third of its value. In fact, in just three short years, the dollar index shed, on average, a point a month before ultimately hitting a low of 80.77 in January of 2005. This sharp decline in the dollar index coincided with, and largely fueled, the first few years of the now decade-old bull market in gold. Full Story
By: John Browne, Senior Economic Consultant at Euro Pacific Capital - 17 October, 2012
In recent decades politicians have increasingly followed the Keynesian prescription of economic growth through continued government borrowing and the creation of undreamt of amounts of fiat money by central banks. To facilitate this process, the larger commercial banks have acted as the central banks' de facto distribution system, and as a result have grown ever larger while accepting progressively greater risks. Full Story
By: Rick Ackerman and Doug Behnfield - 17 October, 2012
In his latest report to clients, below, Boulder-based financial adviser Doug Behnfield sees a tough economy ahead no matter how the election turns out. He is optimistic, however, that the new Congress will finally move toward resolving a debt crisis that has held the economy in stays since the Great Financial Crash of 2007-08. Full Story
While many of us at Casey Research don't like making price predictions, and certainly ones accompanied by a specific date, it's hard to ignore the correlation between the US monetary base and the gold price. That correlation says we'll see $2,300 gold by January 2014. Full Story
In a stunning development over the first seven months of the year, the United States has run up a huge gold deficit as it has exported a record 424 metric tonnes of gold. This is indeed a significant amount when the U.S. exported a total of 488 metric tonnes for the entire year in 2011. According to the USGS July Gold Mineral Industry Survey, the U.S. only imported 188 metric tonnes of gold between Jan-Jul, but exported 424 metric tonnes leaving a huge shortfall. Some of this deficit was made up by the U.S. domestic gold mine supply. Full Story
By: Gary Dorsch, Editor, Global Money Trends - 16 October, 2012
It’s been nearly eight years, since Fed chief Ben Bernanke told the Senate Banking Committee at his confirmation hearing, that “with respect to monetary policy, I will make continuity with the policies and policy strategies of the Greenspan Fed a top priority.” The former Princeton University professor who served as a Fed governor from August 2002 to June 2005 before accepting the post as President George W. Bush’s top economic adviser, also pledged, “I will be strictly independent of all political influences,” Bernanke said. Full Story
Summing up, the short-term outlook for the general stock market is bullish as stock prices moved back above the support line this week and the implications for mining stocks are bullish. The correction in the precious metals market may not be over at this point, but when it is over, miners might finally outperform the underlying metals once again. Full Story
When the 3rd quarter numbers come out, Morgan Stanley predicts that US business investment & exports will show a decline, to the lowest point since mid-2009. The inventory-to-sales ratio is approaching 2009 levels now, and yesterday’s Empire State index report came in at -6.16. This important report shows the contraction or expansion of New York area manufacturing, and obviously things don’t look very good. Full Story
By: Peter Schiff, CEO of Euro Pacific Capital - 16 October, 2012
Journalists, politicians and economists all seem to agree that the biggest economic issue currently worrying voters is unemployment. It follows then that most believe that the deciding factor in the presidential race will be the ability of each candidate to convince the public that his policies will create jobs. It seems that everyone got this memo...except the voters. Full Story
By: John Mauldin, Millennium Wave Advisors - 16 October, 2012
There is indeed considerable disagreement throughout the world on what policies to pursue in the face of rising deficits and economies that are barely growing or at stall speed. Both sides look at the same set of realities and yet draw drastically different conclusions. Both sides marshal arguments based on rigorous mathematical models "proving" the correctness of their favorite solution, and both sides can point to counterfactuals that show the other side to be insincere or just plain wrong. Full Story
By: The Gold Report and Greg McCoach - 15 October, 2012
The looming financial meltdown will affect the global economy and the U.S. will not escape, says Greg McCoach in this exclusive interview with The Gold Report. Whatever happens, the precious metals are bound to fly, as investors scramble for tangible cover. Mining stocks will be major beneficiaries of the soaring metals prices, but where mines are situated will be an important factor as governments try to get a bigger piece of the action. Full Story
The vulgarities associated with $ hegemony policy, our fiat currency economy, and economic lifecycle are all profound factors playing on a fully matured situation that is increasingly deteriorating. Much like Rome at a similar juncture the US and the Western Alliance are in contraction and searching for solutions to growing problems (economic, political, etc.), for which there are none short of an inevitable death. None of this is new of course, as the US is not the first empire to suffer such a fate, however we are talking about something far more profound in scale than what occurred to the Europeans. Full Story
Traditionally, when economies expanded stocks outperformed bonds; but these aren’t traditional times and although economies have expanded, over the past 30 years bonds have outperformed stocks. Since 1981 the return on long-term government bonds averaged 11.5%. The S&P stock index averaged 10.8 %; and, since 2000, the returns of stocks over bonds have widened. A major reason why bonds have done better is that since 1982 government bond yields have been declining; and when bond yields decline, bond profits rise. Full Story
Gold has been wealth and money, a store of value, and a means of exchange for more than 3,000 years. Only recently has debt been widely considered wealth. A US government T-Bond is considered “wealth” because the government promises to repay the loan with interest. Similarly, a corporate note is “wealth” because the corporation has promised to repay the note with dollars, and those dollars are still considered valuable. (Dollars are accepted because dollars are accepted.) Full Story
Show Highlights: Guest Interviews. Headline news & the Market Weatherman Report. Host answers phone calls and email questions. Guests: Dr. Stephen Leeb, Leeb Capital Management Bill Murphy, GATA.org Full Story
I have been looking to put on a swing or position trade to the long side in Gold for the past five weeks but have been unable to do so. There hasn't been a pattern that I felt offered me a favorable trade location in regards to risk and reward in order to justify that entry. The bottom line is preservation of capital is speculating. Full Story
The general US markets had a tough week as corrections are sitting in hard now, but they may need to consolidate recent moves lower before they head any lower further. As we know, the US dollar is inversely correlated to US equities as well as gold and silver. Once it begins to fall again, we should see a rally in the markets but until then we have to expect more weakness. Full Story
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