“The most recent bear market for the TSX Venture began on April 11, 2011 and has now passed 1,000 trading days in length,” said Sean Zubick, Co-founder and COO of Palisade Capital, “That’s more than all bear markets combined since the beginning of 2002.” Full Story
In essence, the world’s tax havens are the economic Alamo—the last holdout against world economic domination. In a few years, we’ll know whether they’ve succeeded in preserving economic freedom for the future. Full Story
History tells us two related facts. Central banks are always defeated by markets in the end, and central bankers have a touching faith that next time they will retain control over markets. But if we accept the lessons of history, we must dismiss complacency over systemic risk to the financial system. We can go even further, and begin to expect that of all the risks that will eventually trigger a widely expected financial crisis, it will be an old-fashioned bear market in bonds. Full Story
By: Peter Spina, President, CEO of GoldSeek.com & SilverSeek.com - 18 June, 2015
The FOMC met this week and informed the markets to lower their growth expectations and be more liberal with the much anticipated rate hike from the historic 0-0.25% target. The Fed was able to buy more time and appease shaky bond markets but sacrificed the dollar’s strength some. The news is supporting gold and silver price, which are near recent lows and well supported. The short-term picture is tilting back to gold-silver favorable supported by the weakened US Dollar along with the recent COT report tiling to a “wildly bullish” stance. Full Story
Yesterday’s Fed announcement is a distinct break with the past and a watershed moment for the markets psychologically. The Fed will no longer be able to simply crack the rhetorical whip in order to keep market tiger sitting on its stool. We will probably get a taste of what this all means in the near term, but, in my view, the Fed will find itself on the defensive with little left in the quiver, save the ultimate rate hike, to discourage speculative bubbles. Full Story
By: Ira Epstein, Linn & Associates, LLC - 18 June, 2015
If I were a “gold bug” I’d be asking myself why hasn’t shot up given what’s going on with Greece. Gold has not and is NOT doing what’s been expected of it by Gold bulls, especially given the importance of the Greek debt event. To my amazement, what’s been supporting gold is the break in the value of the US Dollar Index, not Greece. Full Story
Gianni Kovacevic joins Cambridge House Live anchor Vanessa Collette to discuss the demand for copper, copper development projects, China and India's causing robust demand for copper, the energy complex and where it's going, the green metals including platinum & palladium, his current investment strategy, and his newest venture Copperbank. Full Story
Ever wonder how much gold has ever been exhumed in the history of the world? The GFMS Gold Survey estimates that the total amount is approximately 183,600 tonnes, or 5.9 billion ounces. If we take that figure and multiply it by the closing price on June 16, $1,181 per ounce, we find that the value of all gold comes within a nugget’s throw of $7 trillion. Full Story
By: John Mauldin and Louis-Vincent Gave - 18 June, 2015
For the last four years, I have been highlighting the idea that when Beijing floats the renminbi, the currency may go down, not up, which is the exact opposite of what those who accuse China of currency manipulation believe would happen. I had this very argument with Lindsey Graham two weeks ago at a small dinner in New York, where I listened politely to his positions on a variety of topics until he began talking about currency manipulation. Full Story
An old friend from the Coast Guard visited me over the weekend. He is retired and now works as an emergency planner. If there’s one thing government folks do, it is plan. But many times I’ve seen plans go out the window when emergency strikes and people start to improvise. Or maybe the planned-for emergency never materializes. Maybe you get a different emergency you didn’t plan for. The anarchist in me says that plans are useless. But I agree that it’s good to think about these things ahead of time. Full Story
Chris Berry joins Cambridge House Live anchor Vanessa Collette to discuss global growth, the western economic slack, negative growth rates, worrying trends at home and abroad, China's urbanization trend (only 53% urbanized), his outlook on resources long term, disruptive technologies, fracking & oil, deflation, and much more! Full Story
It is not coincidence that as money got cheaper, Wall Street went nuts with leverage. And given that rates have generally been trending down for over 30 years, betting on cheap money became one of the easiest trades in the world. And that is how you get to where we are today: with a global bond bubble with over $555 trillion in derivatives trading based on it. Full Story
Last week, all the hubbub was about the movements of "gold" into the JPM Comex vault. This week, I'd like to point out something far more interesting and unusual...the flight of "gold" out of the Scotia Bank vault. In case you missed it last week, some noise was made about a massive addition of eligible gold within the JPM Comex gold vault. Full Story
After more than two years of being trapped in a narrow trading range and four years into a bear market is the gold price about to breakout to the upside as the Fed can’t raise rates once Greece tips the global financial system into chaos? Well the gold price will be the last thing anybody is concerned about when that happens. There will be much bigger fish to fry. But gold and silver prices look set to rise and not fall as in the 2008-9 crisis. Full Story
The Bank Of England (BOE) has recently released its annual report in which it’s disclosed the gold held in custody for a range of customers was 5,134 metric tonnes on February 28, 2015, down 351 tonnes (6 %) form the previous year. The data on gold in custody at the BOE is disclosed in billions of Great British Pounds. The annual report states the BOE’s custodian gold was worth £130 billion on February 28, 2015. Because the data is disclosed in round numbers the derived tonnage is an estimate. Full Story
Vanessa Collette speaks with Mr. Joseph Grosso, Executive Chairman, CEO & President of Golden Arrow Resources about its Chinchillas Silver Project located in the mining-friendly Province of Jujuy, Argentina. Full Story
There are a lot of things that are outrageous about this story. But there’s one that I find most instructive. And that’s the very concept of property tax. It’s an insidious perversion of property rights. How can you think you really own something that the government forces you to pay an insatiable and ever-increasing amount of tax on? Full Story
Ed Steer joins Cambridge House Live anchor Vanessa Collette to discuss the possibility of China's actual gold reserves being disclosed and updated, the strong demand for gold, silver's recent breakout, Ted Butler and the silver price, three digit silver price, JP Morgan Chase, the looming rate hike in the US, Jim Rickards, and accumulating gold and silver. Full Story
By: John Browne, Senior Economic Consultant at Euro Pacific Capital - 17 June, 2015
Based on the continued failure of the negotiating parties to make any substantive progress in the talks over Greek debt payments, the financial world is tied up in knots over a possible Greek exit from the European Union. The uncertainty has manifested in both high and low finance, with a sharp sell-off in bonds, particularly EU and Greek government debt, and heightened retail withdrawals from Greek banks as depositors become wary of capital controls that would be imposed in the case of an exit. All concerned parties should likely breathe easier. Despite Greece's almost complete lack of financial integrity, neither NATO nor the EU can afford the political cost of a Greek exit from the EU. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 17 June, 2015
The Bank of China is not China's central bank -- that's the People's Bank of China -- but like all big banks in China, the Bank of China is owned and operated by the government and so in whatever it does it must be construed to be implementing government policy. China may want the gold price to go up at some point, but if China lately had wanted to gold price to go up, it would have gone up already. Full Story
The Fed’s FOMC is concluding another two-day meeting today and will issue its latest policy statement around 2 p.m. EST, as the idiots on financial tv sit on the edge of their seat trying to figure out which word or syllable as changed from the last policy decision statement. The entire process is nothing more than well-staged theatre of the absurd. Full Story
Ross Beaty joins Cambridge House Live anchor Vanessa Collette to discuss precious metals as money, why he likes investing in the mining companies themselves, what are some of his biggest lessons so far in his career, what has surprised him this year, disruptive industries, why he hold gold and silver as a refuge, and much more! Full Story
Today, another great wave is cresting and, once again, is about to break, resulting in a cataclysmic crisis of demographic contraction, economic collapse, political revolution, international war and social violence that will end the current paradigm, clearing the way for the new and better paradigm to come. Full Story
I consider Gold vs. Palladium and Gold vs. Copper to be indicators on the global economy whereas Silver vs. Gold is more an early indicator on inflationary pressure. The conclusion is that the economy is in danger of decelerating (Pd-Au, Au-CRB, Au-Cu) amidst a dis-inflationary environment (Ag-Au). The timing could be by this fall. First, a resumed bounce in the ‘inflation trade’ has a chance to get reanimated. But that is not the dominant longer-term trend. Full Story
Worse yet, the stock market is two standard deviations away from that long-term average, and that is big trouble, according to Shiller, who wrote in a recent New York Times column: “The United States stock market looks very expensive right now. … [CAPE] is above 25, a level that has been surpassed since 1881 in only three previous periods: the years clustered around 1929, 1999, and 2007. Major market drops followed those peaks.” Full Story
For the last few weeks, the market has been decidedly bearish. We got out of our long positions at the exact high of the prior rally, but that rally really came up short of our ideal targets. While we were able to recognize that the market was topping in real time, the fact that it did not generate the significant bullishness that I had wanted to see with a higher move leaves questions in the back of my mind. Full Story
The latest COT report is very good news for professional gold investors. To view it, please click here now. The world’s largest banks dominate gold trading. They are the “commercials”, and it’s clear they have been very aggressive buyers into the tail end of gold’s seasonal weakness. Tomorrow’s FOMC announcement could lay the foundation for a multi-month rally in gold, silver, and mining stocks. The banks are sitting on a giant “QE money ball”. Unfortunately, the money ball has been deflationary because it just sat there in the banks, like coins in a piggy bank. I believe Janet Yellen’s main focus since taking the Fed Chair has been “monetizing” that money ball, by adding velocity to it. Full Story
The bubble that has reformed in the housing market is going to result in a more painful collapse than the original housing bubble. More on this later, but data available from the National Association of Realtors and RealtyTrac shows that 40% of the sales volume this year has been driven by individual investor/flippers. We are at the point in the cycle at which many of them will be left “holding the bag.” To compound the problem, many of these “retail” home traders are now using mortgages to fund their game of hot potato. Full Story
Gold has been a store of value for 1000s of years. You can’t purchase gasoline with gold but it has no counter-party risk and is valued world-wide. In contrast, paper and digital dollars, euros, pounds and yen are debt based fiat currencies backed only by the faith and credit of the governments and central banks which issued them. Devaluation and higher consumer prices are all but guaranteed. Full Story
So I’m starting to see lots of chatter about traders preparing to back up the truck when gold reaches $1000. First off, if you believe like I do, that this was a mostly manufactured bear market by the bullion banks in order to stretch price as low as possible before the next phase of the bull market begins, then there’s no way it’s going to be that easy. Full Story
At the beginning of the year, market participants were expecting the Federal Reserve to raise interest rates during the summer months. This widely anticipated monetary tightening prompted investors to become cautious which halted the primary advance and brought about a multi-month consolidation on Wall Street. Full Story
The stories are all over the Internet. Governments are forcing us into a cashless society. Supposedly the pretext is terrorism, and the real reason is to take more control. No doubt more power appeals to politicians, and banning cash seems like the next step after mandatory reporting of cash transactions. However, I think there is a more serious driver than simple power lust. Full Story
The US has for most of the last half century been running perpetual trade deficits building up their close to USD 20 trillion national debt with another USD 100-200 trillion in unfunded liabilities. This shouldn’t be possible according to standard economic theory as the US Dollar would be supposed to depreciate to mitigate the trade deficits. Full Story
By: Steve St. Angelo, SRSrocco Report - 16 June, 2015
With the rapid fall in the price of oil, the primary silver miners production costs declined in the first quarter of 2015. How much? Well, actually a bit more than I forecasted. However, even with lower production costs, the top 12 primary miners as a group still lost money. Full Story
Quick, think back nine years ago to June 2006. Can you recall what was happening then? Let me give you some hints. Shakira’s “Hips Don’t Lie” was blasting from radios, and moviegoers were lining up to see The Da Vinci Code. The U.S. was deeply involved in Iraq, where Saddam Hussein was being held and awaiting trial. And with Windows Vista still in beta testing, Bill Gates announced he would step down as chairman of Microsoft. Full Story
Gov. Abbott indicated on Friday in his signing statement that some of the Lone Star State’s gold is actually in the grubby hands of the New York Fed itself. And HSBC, the bank reported to be storing some of the gold, has been the subject of criminal investigations and lawsuits. HSBC’s suspected activities range from manipulation of metals and currency markets to rigging LIBOR interest rates. And the bank avoided prosecution for laundering Mexican drug cartel money in 2012 by paying nearly $2 billion in fines instead. Full Story
Apart from two mini-peaks at recent Daily Cycle (DC) tops, Gold’s current Investor Cycle has traded in a narrow, horizontal range. The Investor Cycle (IC) began with 10 good trading days back in March, but has since moved sideways. If the bulls were back in control of the gold market, they would driven Gold to make much more significant gains during the early favorable IC periods (first 8 weeks). Despite being in the most favorable (early) part of the Investor Cycle, Gold failed to catch the bid necessary to move it higher, and has now entered the IC’s normal period of decline. Full Story
Louis James joins Vanessa Collette at Cambridge House's Canadian Investor Conference in Vancouver. They speak about gold, China, Putin, and the outlook for M&A in the resource sector. Full Story
First, let’s have a quick look at the latest Shanghai Gold Exchange (SGE) withdrawal numbers. In week 22 (June 1 – 5) withdrawals came down 12 % from the week before at 32 metric tonnes. Year to date 1,015 tonnes have been withdrawn. The current downtrend is completely normal as seasonally the summer months are quiet in the Chinese gold market, as opposed to the months around new year. Full Story
I need to make a slight correction to Craig’s analysis. 2014 silver production is already used up. 70% of all silver produced is used up in manufacturing processes. The other 30% produced in 2014 is sitting in jewelry boxes across India and China or in fabricated bullion form in private investment hands around the globe. Full Story
Ralph Acampora of Altaira Wealth Management makes his show début - the respected Wall Street veteran / visionary notes that the US equities have not registered even a 10% correction in the primary bull market since 2011. Not until the crowd returns to equities will the bull market register a peak. America's 'Rich Dad' penned the NEW Bestseller, Second Chance: for Your Money, Your Life and Our World (2015) a book for every investor regardless of acumen level with pictures and graphs to insure that readers gain much more than the price of the book. The Rich Dad book series author is ignoring the skeptics, adding 100 US Gold Eagles to his seizable stockpile. Full Story
Brent Cook of Exploration Insights joins Cambridge House Live anchor Vanessa Collette to discuss the market bottom, how now is the time to start slowly identifying companies and projects that really have value, how he is picking his value investments, identifying good companies and red flags, jurisdictions that he is favouring around the world and much more! Full Story
We have previously commented on the mining stocks’ underperformance relative to gold and its bearish implications. Last week, however, we saw something even more profound. The HUI Index broke below the 2014 low in terms of the weekly closing prices and it was the lowest weekly close since 2003. Does this major sign signal the beginning of the final major slide in the precious metals sector? Full Story
DEFLATION RULES! – because periodic recessions, necessary to rebalance the economy after periods of growth, cannot be put off forever by the short-term expedient of printing money. The result of such corrupt and evasive practices is that the deflationary forces build up to catastrophic and overwhelming proportions leading to economic collapse and depression. This is the point that we have arrived at now. Why can’t governments keep the game going indefinitely by printing more and more money? Full Story
Gold traders are split over the prospects for gold after prices recovered from an 11-week low reached on June 5. Shanghai Gold Exchange withdrawals reached 1,015.4 million tons as of June 5 and are on track to exceed last year’s withdrawals. The U.S. dollar slid after a French official said President Barack Obama told delegates at the G7 summit on Sunday that the strong dollar posed a problem. The dollar then pared its declines after the White House denied the statement Full Story
The single most important story for the investment world is the US Dollar. The US Dollar rally took a breather starting in late February 2015. Since that time, it has corrected a total of 7.2%. Technically this isn’t even a correction (it would need to fall 10%) and it’s far from entering a bear market (it would need to fall 20%). Full Story
Most investors are well aware of the enormous impact China has had on the modern world. Thirty-five years ago China’s was primarily an agrarian society, with much of the nation trapped in medieval technologies and living standards. Today 500 million people have moved from the country to the cities; and China’s urban infrastructure is, if not the best in the world, close to that standard. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 15 June, 2015
As the World Gold Council's membership of mining companies has been declining, reducing annual dues payments, the council now is generating most of its income through royalties from the exchange-traded gold fund GLD, gold researcher and GATA consultant Ronan Manly reports today. Australia's Newcrest Mining, Manly writes, is the latest major miner to withdraw from the council, though no one wants to talk about it. Manly adds that the council has just increased the charges it assesses against GLD. Full Story
In a little noticed development at the end of March 2015, World Gold Council (WGC) member company Newcrest Mining of Australia ceased to be a member of the WGC, thereby reducing the Council’s membership from 19 to 18 gold mining companies. Newcrest Mining is one of the world’s largest gold mining companies and Australia’s largest gold miner. Full Story
I’m going to try and lay out a game plan on how this possible last impulse move down may play out in time and price. One thing I can guarantee you is that there will be no bell going off at the bottom when it finally materializes. The volatility will most likely be very extreme with huge swings back and fourth as the last of the bears sell out to the new bulls. How long that process will play out is anyone’s guess. It may take several months or longer until we see some type of reversal pattern form. Full Story
Since 2013 I’ve been writing the World Gold Council (WGC) is grossly understating Chinese gold demand. The aggregated difference between SGE withdrawals and WGC demand from 2007 until 2014 is 3,354 tonnes. Though many arguments have been tested the Western consultancy firms have not been able to elucidate the difference – illustrated by the fact many new arguments keep appearing. Full Story
Yannis Tsitos joins Cambridge House Live anchor Vanessa Collette to give investors an update on the Goldsource Mines progress towards near term production in Guyana. Full Story
Markets were strong, then stalled, and then ended the week on a weak note. I remain in cash expect I did take one small position Wednesday and it is working well but I have tight stops since this market is not acting special at all. Half the battle of winning the great stock market game is being able to wait for the right setups and to be honest, it would be best if we build bases all summer and then come into some strong trading in the fall. Full Story
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