The odds favor Gold and gold stocks continuing to move higher before a correction begins. Both GDX and GDXJ could gain more than 10% before reaching stronger resistance while Gold has upside potential to $1285-$1294/oz. The counter-trend moves within very strong trends occur quickly. Gold declined from $1264/oz to $1192/oz in less than three days while the miners (GDX and GDXJ) have corrected 9-10% twice in the past ten days. Unless Gold and gold stocks fall below Thursday’s lows then we should anticipate higher prices in the short-term. A bigger correction will come but not yet. Full Story
Switzerland has net imported 35.8 tonnes of gold from Venezuela in January 2016. This unusual high tonnage must be gold from the central bank of Venezuela – Banco Central de Venezuela (BCV) – that has been swapping metal with banks or simply sold it in the open market. Remarkably, after Venezuela repatriated 160 tonnes in official gold reserves from 25 November 2011 until 30 January 2012, it started to slowly export this gold to the world’s largest gold trading and refining hub, Switzerland, in 2015. How much unencumbered official gold reserves Venezuela has left is unknown. Full Story
European bank stocks are crashing. Deutsche Bank (DB), Germany’s largest bank, has plunged 36% this year. Its stock is at an all-time low. Credit Suisse (CS), a major Swiss bank, has plummeted 40% this year to its lowest level since 1991. As you can see in the chart below, the STOXX Europe 600 Banks Index, which tracks Europe’s biggest banks, is down 27% this year. It’s fallen six weeks in a row, its longest losing streak since the 2008 financial crisis. Full Story
Chris welcomes back Louis Navellier of Navellier and Associates. He reviews a few stocks that may have run too far, too fast and may require hedging amid extremely volatile conditions. Louis Navellier has a knack for calling bull / bear markets in stocks including the 2009-2015 bull market and more recently the stock market zenith. Listener's are advised to take heed of his surprisingly bearish sentiments. Full Story
By: Steve St. Angelo, SRSrocco Report - 19 February, 2016
There’s been a significant trend change in the gold market and it has the Western Central Banks worried. Before the collapse of the U.S. Investment Banking system in 2008, annual net physical gold investment was negligible. However, the present situation has changed considerably, putting severe stress on Western Central Bank policy makers. Full Story
By: Rick Ackerman, Rick's Picks - 19 February, 2016
Is the resumption of the bull market in gold that so many have patiently awaited for years quietly gathering strength under our noses? The possibility occurred to me on Thursday following conversations with two of the savviest investors I know, Richard ‘Doc’ Postma and Doug Behnfield. Doc, who like me does daily interviews on the Korelin Economic Report, has been somewhat more bearish on gold lately than Rick’s Picks, but nevertheless agrees that a $50 rally in the days ahead, to around $1280 basis the Comex April contract, is a pretty good bet. Full Story
As the yellow metal surged more than 5 percent last week, gold fever quickly broke out and captured the emotions of both speculators and spectators alike. Leading the clarion charge from the stands after the rally was none other than the former big-league slugger and soothsaying market strategist, Jose Canseco – who in his (or his accountant/social media manager’s) own words, tweeted - “With gold minus storage cost becoming greater than cash returns could be a long rally.” Full Story
By: Bill Holter and Jim Sinclair - 18 February, 2016
Jim Sinclair and I sit down in the following audio broadcast to answer reader questions. Topics include; gold, silver, real estate and mortgages, market manipulation and systemic failure. Several high octane questions were taken such as why do they stick their necks out and publicly discuss topics that make them a target, and their opinions of the suspicious nature of Antonin Scalia’s death. This talk was done very informally and is planned as a once or twice per month feature on the new JSMineset Premium content page. Full Story
When looking over these data points, the first thing that jumps out at the viewer is that the vast bulk of “money” in the system is in the form of digital loans or credit (non-physical debt). Put another way, actual physical money or cash (as in bills or coins you can hold in your hand) comprises less than 1% of the “money” in the financial system. Full Story
By: Sol Palha, Tactical Investor - 18 February, 2016
We are not stating that Gold and Silver will not have their day in the sun again. In fact, we still hold onto the view that Gold could trade high as $5,000 and silver north of $200. We have still not had the feeding frenzy stage; in other words, the masses did not participate in the last Bull Run that ended in 2011. However, do not assume that Gold or for that matter any market will trend upwards forever. At this point of the game, it makes sense to deploy some money into Bullion. Until there is a clear signal that a bottom is in place, it would be wise to limit your foray into Gold stocks. Full Story
There were many questions to a recent interview I did last Friday (released Sunday) asking about what a "cashless" society would mean so I've decided to expand on it. As it turns out, the timing was very good (by mistake) because over the weekend Europe announced plans to discontinue the 500 euro note. This was immediately followed on Monday with a trial balloon by Larry Summers calling for the end to the $100 bill. You can certainly see where they are headed! Full Story
Totalitarian creep is moving into hyperdrive. Almost on a daily basis we see another article in mainstream media about a “cashless society”. If you follow the Liberty Movement and/or alternative press then you are aware the drums for a cashless society are beating louder and louder every day. Full Story
By: Peter Spina, President, CEO of GoldSeek.com and SilverSeek.com - 17 February, 2016
2016 is starting off with a bang! Wall Street is learning quickly that steady years of market gains can evaporate in weeks and that unchecked complacency can be costly without proper insurance. Fear has returned to the markets which is shocking many confused investors. They are starting to finally ask some serious questions about what is coming next. Full Story
It is my privilege now to be joined by a man who needs little introduction, Marc Faber; editor and publisher of The Gloom, Boom and Doom Report. Dr. Faber has frequently appeared on financial shows across the globe and he's a well-known Austrian school economist, and an investment adviser. It's a real honor to have him on with us today. Dr. Faber, thank you so much for joining us. Full Story
We've known for years that the Comex derivative pricing scheme was a fraud, where market-making Bullion Banks create unlimited amounts of paper gold in order to soak up speculator demand. Then these same banks shuffle warrants and warehouse receipts back and forth to create the illusion of physical delivery. But now, even the price "discovered" electronically on this exchange has become completely useless. Full Story
After gold’s incredible surge last week, it is now facing a critical test that will either prove or negate a new bull market in the yellow metal. The gold ETF GLD crashed through the 30-week moving average two weeks ago on 2-times average weekly volume, then followed up that move with a surge last week on 4-times average weekly volume. This explosive increase in buying pressure accompanied with a move above the 30-week moving average is the first ingredient to a new Stage 2 bull market. Full Story
From a fundamental standpoint, nothing has changed in regards to the concerns about negative interest rates nor the chaotic nature of the forex markets. While today’s move in gold certainly was certainly unsettling, it should be kept in mind that this market has rallied nearly straight up since January 14 putting on almost $190 in a month. That is one impressive rally! Full Story
This past week, I had an experience which was quite interesting. As many of you know, I write for Market Watch, and sometimes will post an article about precious metals. Over the last few years, I have been told that my gold articles have been some of the most well read articles published on Marketwatch. In fact, an article I wrote last year on gold was read by hundreds of thousands of people. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 17 February, 2016
In analysis posted tonight at GATA Chairman Bill Murphy's LeMetropoleCafe.com, Toronto securities broker Mike Ballanger elaborates on a point made by a number of GATA's friends since the big gold smash of April 2013 -- friends like Koos Jansen, Jim Rickards, and Andrew Maguire, among others. That is, China almost certainly is very active keeping gold futures prices down so that it might acquire more real metal as it reduces the U.S. dollar component of its foreign-exchange reserves. Full Story
By: Steve St. Angelo, SRSrocco Report - 17 February, 2016
The U.S. suffered another sizable gold supply deficit in 2015. Matter a fact, the deficit was 50% larger than in 2014. In 2015, total U.S.gold demand was 118 metric tons (mt) higher than total supply versus 77 mt in 2014. According to figures put out by the USGS, World Gold Council and Thomson Reuters GFMS, the U.S. had a total of 553 mt of gold supply compared to 671 mt of total demand… leaving a 118 mt shortfall for 2015. Full Story
During this month’s Republican presidential primary debate in New Hampshire, businessman Donald Trump took high taxes to task for stunting job growth in the U.S., claiming that “we’re the highest taxed country in the world.” Several critics and pundits were quick to find fault with The Donald’s comment, pointing out that many other countries have a higher tax rate than the U.S. Full Story
By: Rick Ackerman, Rick's Picks - 17 February, 2016
While we all recognize by now that stocks can dive or soar unpredictably on any given day, it looks like bears are still pinned to the ropes at the moment. And while we talk about the Plunge Protection Team and DaBoyz keeping the game rigged in favor of bulls, it is bears themselves who have been providing virtually all of the buying power lately. If you are short, you need only plumb your own thoughts and emotions to figure out what panic-prone bears are going to do next. Full Story
Since the middle of December, gold has executed an impressive advance. It rose from $1047 to an inter-day high of $1263. Money is again flowing into the yellow metal in response to a confluence of positive technical indicators, continued deterioration in other markets, as well as for geopolitical concerns. This has triggered a response from an increasing number of commentators who are calling this the beginning of a new gold Bull Market. Am I overly cautious in expressing a wait and see attitude, and will I miss the boat? Full Story
We would need to see a monthly close over $1200 at the very minimum. However, a monthly close above $1260 would be much stronger signal and confirm that Gold had put in a tradable bottom. As for how fast and how far Gold will rally after that is a different story? The fact that the Central Bankers of the world are embracing negative interest rates could act as a limiting factor regarding the speed at which Gold races towards testing its old highs. Full Story
The Economist calls gold’s surge past $1,200 an ounce this week a “hedge against ignorance,” pointing to question marks hanging over the global economy, some of which include China’s economy, falling oil prices and the fragility of global banks. Even as gold prices fell on Friday, the metal headed for its biggest weekly jump since 2011, reports Bloomberg. Full Story
Many nations that experimented with the Fed’s economic recovery plan are now going beyond the outer limits into the twilight zone of negative interest rates. Some of these nations continued to skirt in and out of the edfge of recession throughout their years of economic stimulus; so, now they’ve powered their programs into hyperdrive to see if they can escape the gravity of their circumstances. Their situation appears desperate and hopeless. Full Story
The exchange rate between the Argentina Peso and the US dollar in January 1945 was 4.17 pesos to one dollar. Like the United States, Argentina created substantial price inflation – devaluation of their currency – in the 1950s – 1990s. According to Wikipedia Argentina devalued their currency by a factor of 100 in 1970, by another 10,000 in 1983, by another 1,000 in 1985, and by another 10,000 in 1992. Full Story
The “devalue or die” currency wars are picking up steam; Japan’s central bankers are not alone when it comes to taking rates into negative territory. A host of European nations are now joining the bandwagon, and the latest victim is Sweden. We alluded to this development a long time ago and published a host of articles on this topic. Central bankers Worldwide understand that the only driving force behind the magical recovery in the U.S s hot money and that is the only weapon that can maintain that illusion. Full Story
The Fed appears to be increasingly delusional. It appears they are lost in their own bullshit story. The net result of this confusion, which is seated in their desire to ‘normalize rates’ before they have to respond to the next financial / market(s) collapse, is they have essentially abandoned the stock market. Thing is though, the speculators (public) don’t understand this, which puts the stock markets in a precarious position. Full Story
What a sad day Saturday was for the world and also the United States. Normally I try to stay with economic/finance and geopolitical logic in my writings. Half of today's writing will discuss the Turkish (and coming Saudi) assault on Syria, the final half will discuss the very untimely death of Supreme Court Justice Antonin Scalia. It is usually better to steer clear of politics but today's missive will give the public trolls a chance to scream prior to my work becoming part of the premium content section at JSMineset. Full Story
As the global market crisis continues, the danger posed by this crisis to the U.S. economy continues to be underestimated by economists and central bankers. A report recently showed that U.S. job openings surged in December and the number of American voluntarily quitting work hit a nine-year high. According to the report, this data points to “labor market strength despite a slowdown in economic growth.” Full Story
We introduced the graphical view of the preferred counter-cyclical environment for gold and especially the gold stock sector in July: Macrocosm. We have updated the view several times since at NFTRH.com, with the macro backdrop getting more and more supportive of the gold sector over the last half a year. Full Story
Last week we focused on the gold stocks. There was more initial evidence of a new bull market there than in Gold. However, Thursday Gold erased some doubts as it rocketed above $1200/oz and to as high as $1264/oz before settling a bit lower. That move puts Gold’s recovery on par with those following past major lows and offers greater confirmation that a new bull market is underway. Full Story
The developing Epocalypse will become the super-volcano of economic history, and this week revealed cracks in the surface that give hints of the eruption to come. It was a week of crumbling throughout global stock markets that has challenged records. Thursday, Hong Kong stocks suffered their worst start of a Chinese New Year since 1994 in a day of monkey business for the year of the monkey. Traders fled falling stocks and took cover in safe-haven investments, bringing the Hang Seng index down 742 points (3.9%). Full Story
By: Steve St. Angelo, SRSrocco Report - 15 February, 2016
According the most recent official data, the U.S. continues to import record volumes of silver. This is quite interesting because retail physical silver investment and industrial demand dropped off toward the end of the year. After the huge spike in physical silver investment from July to September, demand cooled down in October and November. Thus, silver imports into the United States also declined during those months. However, something changed in December. Full Story
Indeed, investors are increasingly losing faith in the Central Banks ability to “Save” the Markets. Many months of the private for-Profit Fed Zero Interest-Rate Policies have certainly not saved the U.S. Economy or Markets, and indeed, the Negative Interest Rate Policies of Japan, Sweden and other have not saved their Economies or Markets either. Full Story
Just like I warned the PPT came in Friday to paint the weekly charts with a reversal. This has the potential to delay the 7 YCL again. If so then it is going to have ramifications for oil, currencies and gold. Full Story
By: Shadow of Truth, The Daily Coin - 15 February, 2016
In 1979 the European Exchange Rate Mechanism (ERM) – a precursor to the euro – was established. The ERM created a semi-fixed currency exchange rate mechanism among the European members of the system which was anchored to the Deutsche Mark. By 1992, less than two years after England joined the ERM, it was obvious to interested observers that the British pound had become significantly overvalued relative to the Deutsche Mark. Full Story
Markets and stocks continue to be very choppy and are showing gap opens both lower, and higher, so holding any trades overnight is not the ideal situation. It is not the ideal trading market right now so I remain mostly in cash, but we should get some trades setting up later in the week ahead, once this current oversold condition is worked off. The metals took off higher and should now be done of their runs, and the recent strength is not so great, so let’s see why. Full Story
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