The sentiment shift is still subtle, but it’s both real and widespread. After a few years of being ignored and/or dismissed as basically useless, gold is cool again, attracting positive comments in the media and increasing accumulation by big investors. Full Story
After falling from 1369 to 1167 in just four months, Gold is attempting to rally now, having risen to a high of 1237 recently. But as I shared in my previous article: “There is significant resistance ahead that could stall Gold’s rally, most notably 1244, the 38.2% Fibonacci retracement of the entire drop from 1369 to 1167, and 1251 on a closing basis (1360-1184). If we close above the latter, then the bottom is likely in place and a truly historic rally has begun. There is plenty of upside from there.” Full Story
The gold miners’ stocks have been largely ignored and neglected for years. Speculators and investors wanted little to do with them for various reasons. But that apathetic sentiment is finally starting to shift thanks to last week’s stock-market plunge. Capital is starting to return to this battered sector as traders begin to realize how radically undervalued it is. Sentiment mean reversions can catapult gold stocks far higher. Full Story
People often whisper conspiratorially about the age-old U.S. practice of fixing the gold price at $42.22. "They're just trying to keep gold down," is a complaint I've heard more than a few times. But in this post I'll show that the monetary authorities have sound reasons for keeping the price of gold at $42.22. Full Story
Returning to the show, Ralph Acampora a highly respected name on Wall Street and the co-founder of the Chartered Market Technician (CMT). The former Director of Technical Research at Smith Barney, outlines a more rosy picture on US equities than the typical analyst. The Dow Jones Industrials / Transportation indexes recently touched a new record levels, confirming a Dow Theory buy signal. Full Story
The economy depended on the spending habits of baby boomers the last three decades. The success and failure of many companies depended on the spending habits of those same baby boomers. It was all about the baby boomers. But that is no longer the case. You must pay attention to the Millennial Generation (those born 1981-2000) right now. And here’s why… Full Story
We hope that this 10-month-long correction was a lesson to those new to crypto investing. Instead of being driven by a mantra, we hope you discover a strategic approach. Instead of embracing the volatility of cryptocurrencies with gritted teeth and propped-up courage, embrace the volatility as an opportunity. Capturing this great opportunity means operating as a contrarian to sentiment: exiting when the market is frothy and waiting for signs of capitulation before reentering. We believe that the end capitulation is right around the corner. Full Story
It’s certainly possible gold stocks could get even cheaper but probably only marginally so. They are already so cheap and so underowned that it’s impossible they become dramatically cheaper. We are beating this point like a dead horse but the turning point for precious metals will be when the Federal Reserve ends its rate hikes. That is the time you want to be a strong buyer. Full Story
It was supposed to make gold rally. We mean, of course, the quantitative tightening. But one year after it started, the yellow metal still does not shine. We invite you to read our detailed analysis of the Fed’s balance sheet unwind and find out what does it imply for the gold market. Full Story
Stocks fell hard Thursday, supposedly because of growing US-Saudi tensions over the gruesome murder of Jamal Khashoggi, a journalist who has been tough on the monarchy and easy on the Muslim Brotherhood. If such tensions did in fact push stocks lower, as a headline in the Wall Street Journal tried to suggest, then why didn’t oil prices rise? After all, the Saudis, pressed to admit the murder was officially sanctioned, have told inquisitors to back off — either that, or risk a curtailment of crude supplies that would push prices into the danger zone in a world dependent on cheap oil. Full Story
For the first time in months, Fido the Wonder Dog has been in my office and at the foot of my bed 24/7 for the past few days giving me great solace that the current advance in precious metals prices is here to stay. Gone are his nervous tics every time my chair squeaks or when I give a little "Whoop-whoop!" at the sight of decent gold quote and most certainly absent are all of the caked mudballs in his fur from having to sleep (hide) under the tool shed. Full Story
Bubbles always burst or implode. People want to believe “this time is different,” but it usually isn’t. Bubbles will implode and cause huge damage, especially to the middle and lower classes in the United States. Remember the crashes of 1987, 2000 and 2008. Each one seemed more destructive and broader in its reach than the previous crash. What will the crash of 2018 – 202? create? Full Story
The Fed will be in a tough spot as this unfolds. Right now, the Fed is in quite a box after years of habituating the market to ZIRP. Powell seems serious about continuing to raise rates as far as the financial markets will tolerate, provided he can do so without killing the economy -- which is a big "if" at this point. Full Story
Yesterday, the Fed released minutes from the recent FOMC meeting. As everyone knows, the Committee hiked interest rates by another 25 basis points in September. But what about the future stance? Well, the minutes signal that the FOMC is going to be more hawkish in the near future (as we have been warning for some time). Full Story
For many years, I have been a staunch bull. In fact, many commenters and contributors on Seeking Alpha and MarketWatch were quite vocal regarding how they thought I was crazy back in 2016 for expecting the market to go from 1800 to over 2600SPX, and potentially up through 3000. Needless to say, many of them remained bearish throughout that rally. Full Story
President Niko Cacos, CEO, and Director - Blue Sky Uranium Corp., winner of the Explorer of the Year Award, makes his show debut. Headquartered in Argentina, Blue Sky Uranium Corp. is a leader in uranium discovery in the region. The Blue Sky mission involves rewarding loyal shareholders with exceptional returns via a portfolio of high uranium yielding, low-cost producers. Full Story
The information provided in BIS monthly statements is not sufficient to calculate a precise amount of gold-related derivatives, including swaps, but the bank's total estimated exposure as of September 30, 2018, was about 238 tonnes of gold, compared with about 370 tonnes at August 31, 2018, and about 485 tonnes as of July 31, 2018. Full Story
You’ve likely seen the reports: A whopping 44 percent of Americans wouldn’t be able to afford a $400 emergency expense without borrowing it or selling something. That’s according to the Federal Reserve’s findings in 2017. And earlier this year, financial services firm Bankrate reported that only 39 percent of Americans would be able to pay off an unexpected expense of $1,000 from their savings alone. Full Story
Quite frankly, I do not buy into these bearish views on copper. Given the current price in the $2.80 - $2.85 range, a significant amount of higher cost, low-margin production is underwater. I fully expect derivative markets to revert to normality; i.e., an outlook mostly driven by projections of short-term supply-demand fundamentals. At that point, the market will squeeze the massive short positions held by speculators. Full Story
Is the Trump agenda in peril? It’s a question investors should consider ahead of the mid-term elections. Up to now, the Trump economic agenda has certainly been great for Wall Street and much of the broader economy. The Dow Jones Industrials continues to defy all naysayers – notching yet another new record high in the first week of October before correcting. Full Story
Ah, Saudi Arabia, land of heat and contradictions. One day they’re jailing women’s rights activists for wanting to drive, the next day they’re dismembering still-living Washington Post journalists. And yet they can count the world’s capitalist democracies as friends, because today’s dysfunctional economic/geopolitical system depends on both Saudi oil and Saudi willingness to help keep their (apparently even crazier) Middle East neighbors in line. Full Story
What does this imply? Check again the OMB forecasted level of debt and deficit through 2028. At a minimum, this level will reach nearly $30T over this next ten-year period. Given that basis alone, would it be logical to expect the price of COMEX gold to remain stuck near $1200 per ounce over the same period? Of course not. Full Story
Summing up, the breakout in gold and mining stocks was a bullish development for the short term, but the rally that was likely to be seen based on it, could have already taken place. This is especially the case given the shape of Monday’s session in mining stocks – a clear reversal. Full Story
"The business cycle backdrop and financial conditions still look very positive for the U.S. equity market; however, some measures of market breadth are showing weakness and are not far from levels that are historically consistent with major market tops...." Full Story
When the market, represented by SPDR Gold Trust (NYSEARCA:GLD), broke down below 117.40, and then followed below the next support in the 114 region, we were hyper-focused on the 109 region. Thus far, that is where GLD has bottomed out (in overnight action). From there, we were expecting a rally, and the market has not disappointed. Full Story
When asked about the dominant theme for the markets last January, I said that the one thing I looked forward to was a return of "VOLATILITY" as the Federal Reserve Board moved to "normalize" the interest rate structure, now commonly referred to as quantitative tightening. What has actually transpired since then was a brief volatility spike in February during which the UVXY tripled in ten days but other than that, markets screamed higher, hitting new high after new high with annoying complacency and irritating certainty while "VOL" collapsed. Full Story
Gold is surrounded by green lights and tails winds. I predicted gold would stay soft until Indian dealers ramped up their buying in late September/early October. That’s exactly what transpired. Next comes China! Chinese dealer buying for New Year celebrations will soon begin, and with Chinese stock markets and currency smashed by government tariff taxes, the citizens are focused on gold. Full Story
Will countries suffering from high inflation take our advice and move from a central bank system to a currency board, ideally backed by gold? Probably not. But with gold continuing to hold its value ($1,200+), despite major headwinds, including a high US dollar, continued demand for Treasury bills, US interest rate hikes and falling demand (For more on gold’s woes, read our Gold and the great stage of fools), they would be wise to. Full Story
Let’s start from the US stock market. In the last edition of the Gold News Monitor, we discussed the Wednesday’s stock market turmoil. But the bear market continued later. On Thursday, the SPX extended its losses, declining about 2 percent. It means that traders continued their liquidation sale of risky assets and moved into safe havens, such as gold. Full Story
Those that have been reading my work for years know that I have been consistently and staunchly bullish despite all the reasons to be bearish. And, if you have been reading my work for the last month or two, you may have noted the change in tone to extreme cautiousness, especially once we broke below 2880SPX. I think that would remain a fair assessment for the coming months, unless something drastically changes. Full Story
According to the 2018 edition of the Stock Trader’s Almanac, October has been a “great” time to buy. Once ranked last in terms of stock performance, the 10th month has delivered relatively average returns since 1950. What makes it so attractive is that it’s followed by November and December, historically among the very best months for stocks. We’re also entering the three most bullish quarters of the four-year presidential cycle, based on 120 years of stock market data. Full Story
Stock market bulls could catch a break if the retracement in Treasury yields continues for a while. The chart shows yields on the Ten-Year Note to have peaked last week at 3.25%. The correction has since hit 3.12% and could conceivably go lower. Although my rally target at 3.32% lies significantly above, that target comes from the weekly chart, and charts of lesser degree look maxed out for the time being. If so, the bulls had better make hay while the sun shines, since a move in yields to new cyclical highs will weigh heavily on stocks and stifle their upward progress. Full Story
I’ve read many comments to the effect that the next financial crisis will be like 2007-2008, only worse. However, the sole reason that many people are talking about a coming 2008-like crisis is because the happenings of 2008 are still fresh in the memory. Market participants often expect the next crisis to look like the last one, but it never does. Consequently, the general prediction about the next financial crisis with the highest probability of success is that it won’t be anything like 2008. Full Story
It is my privilege now to welcome in Dr. Stephen Leeb, Chief Investment Officer at Leeb Capital Management. Dr. Leeb has decades of experience in the financial markets and has even authored seven well regarded books, including best sellers The Coming Economic Collapse: How to Thrive When Oil Costs $200 a Barrel, and Game Over: How to Prosper in a Shattered Economy. He's also the Founder of The Leeb Group, which publishes several financial newsletters. Among them, The Complete Investor, a publication that has received two awards for editorial excellence. Full Story
The best performing metal this week was platinum, up 1.82 percent as hedge funds cut their net bearish position to a five-month low this week. For the eighth consecutive week, gold analysts and traders have reported holding a bullish outlook on the yellow metal in Bloomberg’s weekly survey. Full Story
“You can’t eat gold.” The enemies of gold often unleash this little zinger, as if it dismisses the idea of owning gold and indeed the whole gold standard. It is a fact, you cannot eat gold. However, it dismisses nothing. Full Story
Films about the financial world hold a certain fascination. They are often an inside look at how Goldman Sachs really operates. What is even more amazing is that surveys with people who work in the industry have consistently noted that many of the films are not only good films, they get it right. I can recall watching episodes of the series Traders 1996-2000 and was surprised at just how well it jibed with my own experiences in the investment industry right down to the office intrigues and yes even the affairs. Full Story
Thursday last week was a momentous day for the Precious Metals sector with gold, GDX and other índices, and giant gold ETF, GLD all breaking out on impressive volume, and this development was all the more extraordinary because it happened when the broad stockmarket was crashing. This is viewed as a strong sign that instead of being dragged lower still by a crashing stockmarket, the PM sector will soar. Silver hasn’t broken out yet, but it should soon follow suit. Full Story
Once again the lovely Miss Puddy accompanied me to the beach on the Florida panhandle for a week of rest and relaxation. The end of September is the perfect time for the beach in Florida as it is not too hot but still nice and warm with gentle sea breezes every afternoon. The crowds have also gone and the traffic is much better. Full Story
I think we have all seen many episodes of fake news in the media when it comes to politics. However, what is even more pervasive is fake news in financial analysis. And, I was urged to write this quick public note to set the record straight. Full Story
Sentiment is a funny bedfellow. When the metals market was at the lows back in August, everyone and their mother were again certain that we were going to break below $1,000 in gold. Yet, that exact sentiment is what kept us from doing so, no different than what we saw at the end of 2015. Full Story
Joseph Grosso - Golden Arrow, Executive Chairman, CEO, and President, of Golden Arrow returns to the show with colleague, VP Brian McEwen. Joseph Grosso has spearheaded mineral exploration ventures in Argentina for over twenty years. Axel Merk, head of Merk Investments returns to the show after a two year hiatus with a unique and positive outlook on the gold sector. Merk Investments is monitoring the yield curve closely; while inversions typically mark recessions, occasional false signals are still possible. Full Story
Gold is the perfect antidote for the fascist state and its pervasive penetrating corruption laced with bellicose global actions. Gold eliminates (or rather vastly reduces) the potential for pilferage and theft in the financial management offices. Gold eliminates the potential (or vastly reduces) the potential for endless war with the vast slush funds for the military industrial complex. Gold eliminates (or vastly reduces) the corruption like a grand parasite with extensive tentacles across the several critical business sectors. Full Story
Last week’s trade deficit letter lit some fireworks. The response was immediate and, in many cases, quite passionate in both directions. I got emails from old friends and longtime readers saying it was my best letter in years. Others said I had lost my marbles or gone over to the dark side. In fact, my whole China series has generated a lot of response. Evidently, I kicked the anthill. Full Story
It’s hard to say for certain. But the systemic cracks we've been closely monitoring definitely got an awful lot wider this week. After nearly a decade of endless market boosting, manipulation and regulatory neglect, all of the trading professionals I personally know are watching with held breath at this stage. The central banks have distorted the processes of price discovery and market structure for so many years now, that it’s difficult to know yet whether their grip on the markets has indeed failed. Full Story
Gold is the only thing that’s hasn’t been bid up to bubble territory in the past few years, which makes it cheap and therefore relatively safe. Combine this undervaluation with the even more important fact that precious metals have historically been THE safe haven in times of financial and geopolitical stress, and there’s a real possibility of global capital not just trickling but pouring into this tiny market. That gold short squeeze will be one for the history books. Full Story
The Morgan Report’s Weekly Perspective is our free e-newsletter. Our free e-newsletter will keep YOU in the top 3% of the Informed, the Awake, and the Aware. Full Story
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