By: Chris Powell, Secretary/Treasurer, GATA - 19 April, 2013
Your secretary/treasurer's appearance Wednesday on Yahoo's "Daily Ticker" program with Aaron Task (http://www.gata.org/node/12464) provoked a response today when the program interviewed Barry Ritholtz, CEO of research firm Fusion IQ, who likened GATA to pigs and religious jihadists while not really seeming to understand the organization's complaint and objectives. Full Story
The Secret World of Gold is a documentary exploring the power and politics of gold, a precious metal with more allure and fascination than any other. Valued for its permanence, beauty and scarcity, people will lie, cheat, steal and kill in the name of gold. Full Story
By: Peter Schiff, CEO of Euro Pacific Capital - 19 April, 2013
In the years following the global financial crisis, economists and investors have gotten very comfortable with very high, and seemingly persistent, government debt. The nonchalance may be underpinned by the assumption that globally significant countries that can print their own currencies can't get trapped in a sovereign debt crisis. However, it now appears that Japan is preparing to put this confidence to the ultimate stress test. Full Story
The recent dramatic Gold and Silver Price Takedown revealed the playing out of Mammoth Market Forces with Effects far beyond the Precious Metals Market. Monitoring these Forces is Essential for Investors going forward. Full Story
By: Adam Hamilton, Zeal Intelligence - 19 April, 2013
Holy cow, not even the most vociferous gold bears saw that one coming! Gold just suffered what can only be described as a panic. This metal plummeted so fast that its price surrendered a staggering 1/7th of its value in just two trading days! This blistering decline was so extreme it even dragged the general stock markets down with it. Shell-shocked gold investors are nervously wondering what to make of it. Full Story
By: The Gold Report and Peter Rose - 19 April, 2013
The recent fall in precious metals prices has investors on edge. Many precious metals equities were hurting even before the latest precious metals drop. In this interview with The Gold Report, Peter Rose, head of mining research with Fox-Davies Capital Ltd. in London, provides a European perspective on mining and advises looking at under-appreciated jurisdictions (think Europe) and neglected metals like tin, lead and zinc. Full Story
The precious metals have seen dramatic sell-offs before, although the primary difference between previous precious metal declines and the recent drop is the current shortage of physical metal. Full Story
By: Richard (Rick) Mills, Ahead of the herd - 19 April, 2013
The questionable ‘exorbitant’ privilege (the interest-free loans, U.S. Treasury purchases by foreign governments versus the loss of business competitiveness and all that entails) bestowed upon America for having the world’s reserve currency is going continue for the for-seeable future. This fact, and what it means to the U.S. and the world, should be on all our radar screens. Is it on yours? Full Story
When volatility prevails in the gold market, I love seeing so many different opinions because it promotes critical thinking and healthy markets. But because gold is unlike any other commodity, many perspectives can be extreme, such as “goldenfreudes” who take pleasure in gold bugs’ pain. Full Story
The recent drop in gold and silver is not critical to buyers of physical metals. Instead, it is an opportunity – to buy more at lower prices; at worst, it is an irritation, since it means a longer wait. It would likely be critical only if the gold bull market is over, and prices do not rise higher than the 2011 highs for many years. Full Story
Congrats to the gold bears and stock bulls! After being slaughtered for the majority of the last decade and more, they finally won a victory. Golf clap for you gentlemen. Now you can have your day in the sun once again. US stocks are at all-time highs and Gold sucks again! You won’t have to listen to your clients bitch and moan about how you ignored, avoided or were underweight the bull market of our time. Time to crow! Full Story
According to our methodology, Wall Street is currently in ‘correction mode’ and additional near-term selling pressure cannot be ruled out. At this stage, nobody can predict the duration or depth of the ongoing stock market correction. However, until a new uptrend emerges, caution is warranted and investors should not allocate fresh capital to common stocks. Full Story
It’s notable that whenever ArabianMoney publishes an original article on silver then our page views shoot through the roof. Spot the next investment class about to take-off perhaps, and its even cheaper after the failed bear raid on gold this week that also pulled down silver prices temporarily. Full Story
Since writing The International Man in 1976, I've had quite a bit to say about internationalizing yourself. The book's subtitle was Making the Most of Your Personal Freedom and Financial Opportunity Around the World; but in going over past editions of our newsletters, I find that most of what I've written in recent years has been about the financial aspects of expatriation. Now seems a good time to confront the rest of the subject head on – the reasons to very seriously consider leaving your home country, and to do so now, not next year. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 18 April, 2013
Without trying to, the Bloomberg News story from Tuesday appended here explains exactly what has happened with gold this month: Western central banks needed to create the impression that there's no inflation so they could continue monetizing debt and buying junk assets. Gold is an indicator of inflation and so had to be smashed to clear the way for more money creation. Full Story
There are likely, at minimum, half a dozen reasons for the swift correction in precious metals over the past week. The real reason might be one, two, or even all of what I’m going to lay out below. Full Story
Doug, the news of the week is the big meltdown in the gold market. Some people are saying the bear is here to stay, and it's time to sell everything gold-related and look for greener pastures elsewhere. Others are saying the is the buying opportunity of the decade, and it's time to go "all in." What do you think? Full Story
With the financial experts claiming, some gleefully, that gold has "lost its safe haven status" in the aftermath of its biggest tumble in 30 years, many commentators thought (hoped?) that the dramatic price drop would steer people away from gold ownership. To my eyes, the past week has all the earmarks of a high-gloss propaganda campaign complete with well-placed anti-gold stories in the media and the careful use of language aimed at sowing doubt about gold's ability to be a store of wealth. Full Story
It has been a painful few days for those who believe that gold (and silver) are a safe haven from government money-printing machines and the mountain of debt of the Western economies. In the space of two days, gold prices fell just over $200 an ounce (13%) in a frenzy of selling. Silver prices dropped over $4, or 15.6%. The bears were licking their chops. The bulls were licking their wounds. Full Story
By: Jeff Berwick, The Dollar Vigilante - 18 April, 2013
The April monthly issue of TDV comes at a most convenient time this month. The Big Picture is meant to be my monthly overview of where we are at with The End Of The Monetary System As We Know It (TEOTMSAWKI) and all the symptoms of TEOTMSAWKI that are affecting the world. Full Story
That was the question I asked myself after being 100% cash into the last hour yesterday and seeing the bottom fall out on the gold stocks once again. Classic trading methodology teaches that you do not try to catch a falling knife. ‘Screw classic trading methodology’ thought I, ‘I’m taking some positions’, which ended up being in the gold and silver bullion fund CEF (now selling at a discount), a few individual items I consider to be of relative quality and the leveraged NUGT in a high risk trading account. Full Story
Friday the 12th and Monday the 15th of April were memorable days. It is clear that both silver and gold paper markets were taken down via a devastating attack of naked short selling that triggered margin calls that accelerated the decline. Gold and silver investors panicked, and some sold into the lows. Full Story
It has been an increasingly brutal ride for gold and silver, beginning around late March and accelerating through April. The gold price was over $1600 and on Monday April 15, it fell below $1350, a loss of $250. Silver did even worse, falling from $29 to $22. We called for the gold:silver ratio to rise, and since the start of February, it has risen from around 52.5 to over 59 as I write this (with a few periods over 60). Full Story
A few days ago, this author published an analysis titled “Gold’s Price Collapse and 4,500 Tons of Mysterious American Gold Exports”. It was noted, there, that 4,500 tons of mysterious gold exports, above and beyond the amount that America was capable of producing, both from mining and recycling could not be accounted for. A calculation was done, resulting in a conclusion that the Fed actually had 2,200 tons of gold left. Full Story
By: David Galland, Managing Director - 17 April, 2013
It has become tradition at La Estancia de Cafayate for Casey Research to host an intimate conference in conjunction with the Harvest Celebration. In the most recent of the series, Bill Bonner, editor of the Diary of a Rogue Economist and a friend of long standing, kicked the program off with a thought-provoking discussion about the nature of information. Full Story
By: The Gold Report and Greg Dorsey - 17 April, 2013
Three trends will light a fire under natural resource prices and equities in the coming years, according Greg Dorsey, editor of Leeb's Real World Investing. Buying small- to mid-cap equities now and holding them as a long-term option against the metal price is a winning strategy, whether you are talking about gold, silver, copper, platinum or palladium. In this interview with The Gold Report, Dorsey shares how best to profit from the expected surge. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 17 April, 2013
An interview broadcast yesterday by CBC Radio in Canada with filmmaker Brian McKenna makes it seem that his new documentary, "The Secret World of Gold," which is to be broadcast on CBC Television at 9 p.m. Eastern time Thursday, will approach relevance -- evidence of the manipulation and deception of the gold market by central banks. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 17 April, 2013
Your secretary/treasurer was interviewed for a few minutes yesterday by Aaron Task for Yahoo's "Daily Ticker" program and got to urge financial journalists reporting about the recent gold crash to start by asking Western central banks specific questions about their surreptitious interventions in the gold market. Full Story
As I have been saying for over a year now, the dollar will not make new highs, and it will collapse as the consequences of QE infinity ultimately take their toll. Today the dollar confirmed that an intermediate degree decline has begun by closing strongly below the previous daily cycle low. A new pattern of lower lows and lower highs has now begun. Full Story
If there is one thing this latest shock-and-awe “theater” in the Gold market tells us, it’s that the government and banksters (i.e. the oligarchy) must be REALLY pissing their pants. It doesn’t show their strength – it lays bare their weakness. They just made it abundantly clear (again) how important Gold is in their scheme of things. Full Story
The threat of war against the United States is making headlines and roiling investors’ nerves. While full-scale war is likely not imminent, it’s something worth considering in light of where we stand in the long-term War Cycle. Full Story
On Friday we witnessed a great plunge in gold (almost $80 – from $1560.30 to $1480.50) and silver (almost $1.7 – from $27.58 to $25.89) and we are seeing even lower prices this week. No matter if we take gold from the USD perspective, average non-USD perspective, or gold priced in individual non-USD currencies, we will see that the price has broken below the key support levels. Full Story
By: Gary Dorsch, Editor, Global Money Trends - 17 April, 2013
Financial history is marked with times when populations took collective leave of their senses and succumbed to delusions of ever-expanding wealth. Times of rampant speculation have been enthralled by the introduction of new technologies, that are used to justify pumping-up market valuations, - not just for the present, but also for the near future, and far over the horizon as well. Quite often, the new found wealth is nothing more than a mirage. The wild enthusiasm for the stock market is often overtaken by speculative froth and emotional mania. As such, spectacular rallies deliver massive gains for one generation of lucky investors, but also create massive overvaluations that plague the next generation. Full Story
The last week has been a fright fest for the gold “community”. But these are the financial markets, not a community. There is a world outside of what ever is going on in gold and silver. A macro economic backdrop filled with entwined and correlated assets and markets all trying to form a message when taken as a whole. Full Story
The ability of a business to maintain accurate and meaningful accounts is undermined by the debasement of the accounting medium, fiat currency. Understand this and you understand the corrosive effects of weak money. Full Story
Prediction is an art. Heisenberg’s Uncertainty Principle is as operative in the realms of the unknown as well as in the known. But, sometimes, predictions are a slam-dunk such as the large number of put options placed on United and American Airlines in the days prior to 9/11 through Alex Brown Deutsche Bank, an investment unit with close ties to the CIA’s Buzz Krongard. Full Story
By: Manan Somani, Insignia Consultants - 17 April, 2013
Under the current market circumstances where gold and silver have come under heavy historical fire, most of us have incurred losses by going long. There are questions over the continuance bullish trend in gold and silver. The current fall is a big lesson for gold and silver bulls and for the common man in India. The common man in India was of the belief that gold is a safe investment at any price in India. He invested a lot of his savings in gold and silver. Now this belief has been shattered and he will now think twice before investing in gold. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 16 April, 2013
Of course GATA's constituency is not flush with capital right now. But those whose lights and Internet service are still on or who have some postage stamps left could always try giving a metaphorical kick in the pants to those who should be representing them but aren't. Full Story
By: David Franklin, Sprott Asset Management - 16 April, 2013
The recent price action in gold can only be described as 'panic selling'. Money managers and veteran traders know that when panic sets in and markets start moving rapidly, "investing" logic drops by the wayside and money begins to flow one direction only. We have seen this over the last two trading days in long gold positions in the futures and ETF markets. This selling in turn drives prices lower, forcing those holders on margin to liquidate their positions. This process leads to even more selling as the pain of holding levered "under water" positions becomes too great, causing traders to liquidate their positions. The light at the end of the tunnel for precious metals investors is that these events have been value-buying opportunities that occur only a few times a decade. Full Story
Leveraged gold speculators panic whenever someone decides to sell large numbers of transient short positions into the market. That isn't anything unusual. It is because they are gamblers who. like their soul-mates in Las Vegas, ignore common sense and think they can win against the House. But, the House always wins. It is no different with the world's derivative players who play at derivatives casinos. The only difference is that while casinos in Las Vegas admit that the odds are rigged in their favor, derivatives casinos are more deceitful, and don't. Full Story
Inflation is a silent tax on savers, especially retirees who cannot realistically expect to be able to increase their income every year or couple of years. The President has offered in his budget to change how CPI is calculated for Social Security payments. This will probably make things worse for seniors. This article lays out the facts and offers solutions to this problem. Full Story
There is no doubt that we are at a critical juncture in gold and silver and the first order of business is to drill down to how and why prices plunged so much Friday and Monday. Certainly, more commentary (mostly on gold) is being written about the precious metals currently in regards to the price weakness than I can remember. Unfortunately, much of the analyses and commentary is wide of the mark, in my opinion. But the great thing is that everyone interested in what just took place with gold and silver prices can decide for themselves from the multitude of opinions offered as to what makes the most sense. Full Story
On Friday and Monday, there was gargantuan volume in the gold market. On the comex, more than a million contracts changed hands over those two trading days. That’s a snapshot of Monday’s volume, just in the June contract. The total was more than 700,000 contracts. There are rumours that Spain and Portugal were dumping gold, raising cash to meet IMF & ECB austerity demands. A lot of selling probably also came from large hedge and pension funds. Full Story
Tell a person that it's a big beautiful world, full of fresh opportunities and a sense of freedom that is just not available by staying put and you will inevitably be treated to a litany of reasons why expanding your life into more than one country just isn't practical. Let's consider some of those commonly stated reasons, and why they might be unjustified. While largely directed at Americans, these are also applicable to pretty much anyone from any country. Full Story
I am very disappointed by, but not surprised at, the latest transfer of wealth to the bankers from everyone else. The most recent gold bear raid has vastly enriched the bullion bankers, once again, at the expense of everyone trying to protect their wealth from global central bank money printing. Full Story
Until recently I was expecting the bubble phase for gold to occur as we came out of the next 8 year cycle low in 2016. However with the panic sell off over the last two days and break of support at $1523, I'm now starting to think what we are seeing is the washout prior to the bubble phase. The Nasdaq in `98, and oil in 2007 are perfect examples of the transition into the "bubble." Full Story
The markets today are snapping back from yesterday’s sharp drop. However, in the bigger picture we believe that Ben Bernanke must be terrified. The Fed and other Central banks of the world have done their darnedest to inflate away the debts of the developed world. These folks wanted more than anything to create inflation… because it meant it was easier to service their debt loads provided interest rates stayed low. It is beginning to look like they failed. Full Story
Anyone who’s ever had a brick fall on one’s feet knows how much it can hurt. It’s little consolidation if that brick is made of gold. What’s happening to the price of gold? And has our outlook changed, be that for gold, the U.S. dollar or currencies more broadly? Full Story
I believe that cryptocurrency technology will ultimately be used to validate ownership of real assets, such as a share in a mortgage or in a company. The fact that BitCoin is regarded as wealth in its own right is a weakness, not a strength. The actual value of BitCoin is determined by the balance between cost to subvert and benefit of subversion. That is a horribly unsound foundation for a purported unit of wealth. Full Story
From a technical standpoint, we ran out of bearish targets yesterday when June Gold pulped a $1414 Hidden Pivot support in the early going. The intraday low was $1348, which as it turns out is just $7 shy of an exact 50% retracement of gold’s spectacular run-up from $732 to $1949 between October 2008 and September 2011. A durable bottom? We’re not confident about this, especially since the implied 50% point at $1341 is not a Hidden Pivot. However, we looked nonetheless for speculative buying opportunities yesterday, always with tight stops – but also with the knowledge that if support fails, Comex Gold could grope its way down to $1188 in search of traction. Full Story
It was 1:30 am on Thursday March 28 on the West Coast of North America. Still jet-lagged a week following my return from Asia, I awoke after a mere three hours sleep to an epiphany. The thought evidently coincided with the time that banksters in Cyprus braced for a run on reserves. Their intervening measures to prevent bank failures included severely discounting the value of large investors’ deposits and radically limiting cash withdrawals for peones to 300 euros a day. Here’s the idea that woke me up: If you keep your money with the Banksters, they are LOL. Full Story
There are many ways to internationalize and legally structure yourself and your business around these and other low-tax countries. One possibility could involve an American citizen obtaining a second citizenship, then becoming a resident of one of the countries above, and finally renouncing US citizenship in order to obtain a tax-free existence. Of course, this is but one possibility. There are many options with varying degrees of protection. Full Story
With Japan’s $75 billion added to the ongoing Fed $85 billion in balance sheet expansion, global central bank assets could grow by another $1.3 trillion by year end. That implies a $300/ounce increase in the gold price based on the relationship graphed above. No guarantee obviously, but a cheery thought to end with. Full Story
By: Peter Schiff, CEO of Euro Pacific Capital - 15 April, 2013
Creditor nations that buy gold cheap from bankrupt nations forced to sell at distressed prices will see the value of their reserves swell, thereby gaining the independence and confidence they need to finally break their reliance on the U.S. dollar as their principal reserve asset. When the reign of "king dollar" finally comes to a belated end, let's hope all the gold we allegedly have stored in Fort Knox is actually there. We're going to need every ounce of it. Full Story
For gold to rise to levels significantly higher than the recent high of $1920, a new impetus is needed. Without additional energy from such an impetus, gold could just trade sideways for a very long time, or even fall further. There is only so much value in the world economy, and it is split between all the different instruments (like gold, silver, stocks bonds, etc.) where value resides. Full Story
Unfortunately, this is not your grandfather’s market. This is a market being ‘hands-on’ managed, massaged and outright violated by policy makers and their associates in the financial services industry and financial media. Gold especially is a monetary instrument that would shine a negative light on current policies. It is a digital and connected age, where anything is possible in the short-term. Full Story
WE DON'T make price forecasts at BullionVault (one reason we're not on CNBC very often). Nor do we claim gold must only go higher forever. There's a good time to own gold, we think, and a bad time. So far, 2013 isn't proving much fun, despite fresh Eurozone crisis, plus ongoing attacks on the value of currency by central banks everywhere. Full Story
Precious metals shares will be discussed in detail next week. In the meantime, it appears the Amex Gold Bugs Index (HUI) is about to take out the 61.8% retracement off of the 2011 highs, discussed previously. If this occurs, the next Fibonacci related support is at 283, the 72.8% mark; but if we repeat the 2008 experience, expect to see the 78.6% retrace touched at 255, leaving only the head & shoulders (H&S) target at 190 after that. Frankly, if a flash crash were to occur, precious metal shares should fall with the broads, making the H&S target reachable. Full Story
The Sunday night massacre has exceeded my worst-case Hidden Pivot target, with the June Comex contract hitting a so-far low of 1385.00. Switching to conventional technical analysis, there are now two numbers we should keep in mind as possible bear-market lows: 1) 1341, representing a 50% retracement of the rally from 2008's watershed low of 732; and 1188, a 0.618 retracement. Full Story
In this Weekend Report I would like to take an unbiased look at the precious metals complex that has been showing substantial weakness since the October highs of last year. I’m going to show you some charts, further along in this article, that will shed some light on what is really taking place right now. Keeping an open mind is key to being successful in the markets. Full Story
This is not an article about what Bitcoin is, you can find that information all over the place. There are long, technical arguments about whether Bitcoin will scale, whether it can be hacked and so on. While these articles are interesting diversions. But they miss the point. Full Story
Show Highlights: Guest Interviews. Headline news & the Market Weatherman Report. Host answers phone calls and email questions. Guests: Gerald Celente, Trends Research Institute John Embry, Sprott Asset Management LP Full Story
Gold fell hard on Friday, pushed to its worst loss in more than a year. The Comex June contract settled at $1501, down $63, after having traded as low as $1476 intraday. Adding insult to injury, Goldman Sachs – aka the Bad Guys – had seen it coming and told investors to get short two days earlier. We’d seen it coming ourselves, having projected a decline to at least $1487.90 when the futures were trading $80 higher. Full Story
A number of subscribers have written in to me asking how I knew to load up with Puts on Thursday ahead of Friday’s massive smash in the gold market. The answer to that is that when you have been watching markets and price movements for as long as I have and understand how Big Money thinks and operates, you develop a “sixth sense” for the kind of stunts they can pull. Full Story
Late Friday afternoon in New York (April 12, 2013) gold plunged through the critical support level around $1525 level that has held resolutely since the start of this 19 month correction from $1900 in September 2011. In the process of this sudden drop, confidence in gold by long term investors has been badly shaken. Full Story
By: John Mauldin, Millennium Wave Advisors - 14 April, 2013
An engineer, a chemist, and an economist are stranded on a deserted island. They are starving, when miraculously they find a box filled with canned food. What to do? They consider the problem, bringing their collective lifetimes of study and discipline to the task. Being the practical, straightforward sort, the engineer suggests that they simply find a rock and hit the cans until they break open. “No, no!” cry the chemist and economist, “we would spill too much food and the birds would get it!” Full Story
There’s been a recent huge draw down of physical gold at the New York COMEX and at the JP Morgan Chase depository. Look at the physical market draw down on the charts below. It has taken a drastic plunge. Full Story
If you're long the precious metals, beatings like they're taking today (gold down 4%, silver down 6%) can seriously shake your confidence. At times of self-doubt like these, I look to learn what people smarter than I are thinking; as there's a good chance they're seeing the big picture more clearly. Over the past week, I've had a lot of good fortune to do just that. The bottom line? More than ever, the smart minds see fewer better options than the precious metals for preserving (and likely increasing) the purchasing power of one's wealth. Full Story
Yes, I really do hate to say it but I did tell you so! I’ve been sceptical and bearish on gold and silver in 2013 as soon as the initial low of $1,625 was broken. We’re now some $150 lower. Today I’d like to focus on a bit of a longer-term weekly chart so we can see where support is sitting but it doesn’t look good right now. Full Story
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