Yes, the biggest gains are ahead of us. I really believe that. I can prove it happened. I can prove the past. I cannot prove the future. I could be wrong. I'll say that publicly, and I've said it for years. But markets always accelerate at the end. You can look at the tech wreck, you can look at the housing bubble. This is how markets move. The metals markets are no different, other than the psychology of the metals markets is different. Full Story
The gold stocks started to correct this week as large caps were off 13% at Thursday’s low. Both juniors and large caps have made tremendous gains since the January 19 bottom and are ripe for some profit taking. The Fed minutes provided the catalyst for such and we should also note the tendency for gold stocks, while in a bull market to peak in May. History argues that the miners could correct at least 20% now before moving higher. Full Story
If any of the fears that motivate people to purchase gold as insurance surface, I don’t think our government would hesitate to do whatever they deem necessary to mitigate the damage. From time immemorial, gold has been at the center of virtually all major monetary systems, including in the United States. I believe if the dollar’s credibility comes into question, they will bring gold back into ours if they think it will work. In this event, like in 1933, they would demand all the available gold, and the gold ETFs are the most obvious targets to easily acquire large quantities of it. Full Story
By: Adam Hamilton, Zeal Intelligence - 20 May, 2016
The world’s elite silver miners just finished reporting their operating results from 2016’s first quarter, and they were impressive. This industry continued to drive its costs lower even as silver finally started mean reverting out of mid-December’s deep secular low. The silver miners are beautifully positioned to enjoy soaring operating profits as silver’s young new bull market continues gradually marching higher on balance. Full Story
Peter Grandich of Peter Grandich and Company rejoins the show with positive comments on the PMs and crude oil, markets. Our guest expects gold to reach $1,400-$1,500 in 2016. Contrarian investors may continue to benefit from nearly universal bearishness - investors are gun-shy, presenting buying opportunities. Trouble in the US hedge fund industry could put downward pressure on the stock indexes. Full Story
Leading Wall Street technician, Ralph Acampora of Altaira Wealth Management returns to the show with an overview of key support levels in the markets. Ralph Acampora agrees with several recent guests that gold and silver have seen their lows - selloffs present buying opportunities. The yearlong trading range in US equities includes wide swings of 2,000 points in the Dow Jones Industrials. Full Story
The first reaction from the hard money camp would be to state we are insane or that we longer value hard money. Taking that line of thought would only set you on the wrong track; we are not against hard money or the Gold standard. However, most of those in the hard money camp have a hard time dealing with reality. The reality is that very few even understand this concept and even fewer would be willing to embrace it. In the end, it’s the masses that determine whether or not a new trend, fad or rule will be embraced or not. Full Story
World-wide, markets are horribly distorted, which spells danger not only to investors, but to businesses and their employees as well, because it is impossible to allocate capital efficiently in this financial environment. Full Story
The Gold Forward Offered Rate (GOFO) is the swap rate for a gold-to-U.S. dollar exchange. In other words, it is a rate at which someone is ready to lend gold on a swap basis against greenbacks (the benchmark used to be quoted by a few banks involved in the rate-setting process which were prepared to lend gold to each other). For example, if someone owns gold and wants to borrow U.S. dollars, he can use gold as collateral to secure the loan. Full Story
One of the inspirations for our name, The Dollar Vigilante, was what used to be called the Bond Vigilantes. Last seen in full force in the inflationary early 1980s, bond vigilantes were anti-establishment figures who were said to have rebelled. They had decided to keep central banks and governments honest by raising long term interest rates in the open market. They would do so whenever the authorities kept their own interest rates too low, or let budget deficits grow out of control. Full Story
June Crude reversed sharply Thursday from within 16 cents of the 47.42 Hidden Pivot support I’d flagged here the night before as a good place to get long. Sounds easy, right. It wasn’t. The futures initially bounced from 46.45, three cents from my number, after plummeting $2 from the previous day’s highs. The close-but-no-cigar low left subscribers a penny or two shy of getting aboard, according to reports in the chat room. What happened next would have challenged bulls and bears alike: The futures relapsed to 47.26, 16 cents below my target and three cents below the stop-loss that had accompanied it; then they rocketed sharply higher, on their way to a so-far recovery peak at 49.13. Full Story
One final, hopeful note: In both scenarios, real cash, i.e., gold, is king. In the Great Depression, things got cheaper, which made life easier and more fun for people with money. During times of currency devaluation, gold soars in local currency terms — and life gets easier and more fun for the metal’s owners. So either way, owning sound money (as opposed to euros, dollars, yen or yuan) is one part of a plan to survive what’s coming. Full Story
Gold and mining stocks are still only in the first inning of a big brand new bull market and that’s the big trend item that is important to keep in mind if you are interested in getting involved in gold and mining stocks. In big bull markets you want to hold a core position and buy on dips. Yesterday’s drop is creating gift for those that want to buy. Full Story
Expect: More currency devaluations, higher prices for commodities, volatile markets, increasing central bank desperation as shown by craziness such as negative interest rates, more QE, and continued zero-interest rate policy. Central banks do NOT have your back – unless you are a member of the political and financial elite. Full Story
What’s more, while the gold-silver ratio can and probably would rise if USD rises, gold is not a candidate to rise along with it at this time. That is because after leading most markets out of the deflationary phase to begin the new year gold has been an also ran among anti-USD items. So it would probably not decline as badly as many items if the buck firms further, but it would not be expected to remain bullish on the short-term. Full Story
By: Steve St. Angelo, SRSrocco Report - 19 May, 2016
Very few precious metals investors realize how recent trend changes will greatly impact the gold market going forward. The reason many investors fail to grasp the huge change in the gold market is that they look at data or information on an individual basis. To really understand what is going on, we must look at how all segments of the market compare to each other… a BIRD’S EYE VIEW. Full Story
I expect one of two things to happen next, neither of them particularly bearish. Scenario #1 calls for June Gold to fall just a bit more, to the 1251.00 Hidden Pivot support shown, then rally sharply to a new record high at 1336.30. More likely in my estimation would be a test of the trendline, then a strong rally to the same number. If the latter scenario were to play out, with the futures touching the trendline by the middle of next week, the implied drop would be to around 1231.30, or 30 points. Full Story
I sat down with John Rubino, Dollar Collapse, to discuss the current state of our economic world. In a very lively conversation we hit some of the more pressing items of the day. John has done a fantastic job of documenting the demise of the dollar since he co-authored ” The Collapse of the Dollar” with James Turk back in 2004. John’s insights and analysis are top shelf and should be on everyones list of people to follow. Full Story
This move is called a “Death Cross” and for good reason. The last time it happened was in 2008, right before the entire market CRASHED. The time before that was right before the Tech Bubble burst, crashing stocks. In short, going back over 16 years, this Death Cross formation has only hit TWICE before. Both times were when major bubbles burst and stocks Crashed. Full Story
We’re going to discuss the secrets of Casey Research founder Doug Casey’s wildly successful investment strategy…one that has made him tens of millions of dollars in the markets. For each of the next five days, you’ll receive an essay about how this strategy can potentially add tens of thousands of dollars a year to your investment returns… Full Story
Regarding today’s publication of the “minutes” of the FOMC’s April 27th meeting – which are invariably, and unquestionably, doctored in consideration of market conditions at the time of publication, the Fed will clearly be “playing with fire” if it attempts to peddle anything other than the aforementioned economic and financial market facts. And the scary thing is, that amidst such carnage, even the Fed’s own, suppressed inflation statistics are surging – creating a toxic, stagflationary cocktail that at some point soon, must be addressed. Full Story
But a sell-off — taking place over a period of days, weeks or months — is a necessary, healthy part of any enduring bull market. It clears out the speculators and unbelieving “weak hands,” and paves the way for much higher prices in the future. Full Story
Since the beginning of the year, the greenback has shown it's not almighty after all; and gold - the barbarous relic as some have called it - may be en vogue again? Where are we going from here and what are the implications for investors? Full Story
As far as GLD, I truly do not have a highly reliable micro count with which to point. But, as long as it remains below 122.40, we have a micro pattern that suggests downside continuation. So, that is the level I will be watching early in the coming week for our next indications and will update you should that pattern invalidate for downside follow through. Ultimately, I would still need to see a strong move through 124.50 (the 1.618 extension off the recent low around 120, as well as the prior high) to view this as a strong break out potential. Full Story
By: Steve Saville, The Speculative Investor - 18 May, 2016
A TSI subscriber recently reminded me of an indicator that I regularly cited in ‘the old days’ but haven’t mentioned over the past few years. The indicator is the bond/dollar ratio (the T-Bond price divided by the Dollar Index). The bond/dollar ratio not only does a reasonable job of explaining trends in the US$ gold price, it does a much better job of explaining trends in the US$ gold price than does the Dollar Index in isolation. Full Story
Tuesday’s rally tiptoed oh-so-coyly up to the secondary pivot of the pattern shown. We’ve been using it to stay confidently on the right side of crude’s balky, doomed rally. Price action has now confirmed the pattern with precise hits at both the middle and secondary Hidden Pivots (p and p2 respectively) , meaning that when the futures finally pop decisively above the latter, we can count on a further rally to exactly 51.39 before we are gifted with yet another predictable — and therefore tradable — downturn. Full Story
On one side, we have The Specs. These" investors" seek an exposure to gold through ownership of the paper derivative offered by The Comex. On the other side, we have The Banks. These "criminals" fraudulently create unlimited amounts of unbacked paper gold and sell them to The Specs in an attempt to cap price and, ultimately, profit by covering at lower prices. Which side will win? With open interest near record levels in both gold and silver, we're likely not going to have to wait much longer to find out. Full Story
In my opinion, gold’s Cycle is setup well for a surprise, $200 Gold rally. Gold has reached an interesting crossroads and based on the Cycle position, some significant volatility lies ahead. The Gold sector is doing well, and has held up after impressive gains. It has seen a couple of weeks of price consolidation, but no serious selling. This points to a strong underlying bid, and is reflective of a bull market. Full Story
Gold continues to garner solid global institutional support, and shows great resiliency on every sell-off against the dollar. Giant bank Credit Suisse has joined the bullish forecasting fun, by raising their price targets for both bullion and mining companies. Deep-pocketed funds and banks are embracing the world’s mightiest asset with gusto, and that’s apparent in the price charts. Full Story
We all make mistakes, but some are bigger than others. An example of a serious one that’s both potentially catastrophic and easily avoided is to lend money for long periods during a time of rising debt and financial instability. Who, for instance, would commit capital for 30 years to Italy by buying that country’s long-dated government bonds? “No one” is the sane answer, yet those bonds do find buyers. Full Story
A respectable number of Americans hold investments in gold and silver in one form or another. Some hold physical bullion, while others opt for indirect ownership via ETFs or other instruments. A very small minority speculate via the futures markets. But we frequently report on the futures markets – why exactly is that? Full Story
This year’s first quarter is one for the history books. Not only did gold appreciate at its fastest pace in 30 years, but demand for the yellow metal was the strongest it’s ever been on record. Let me repeat that: the strongest it has ever been. Demand surged 21 percent from the same period a year ago, according to the latest World Gold Council (WGC) report. Most of this demand was driven by investment, with net inflows into gold ETFs reaching 363.7 tonnes, a seven-year high. Full Story
Successful crisis investing boils down to one skill. The ability to go against the crowd to buy beaten-down assets that have been left for dead. Few people know as much about this subject as Jim Rogers. Jim is a legendary investor and a true “international man.” He has earned millions investing in crisis markets. In the interview below, Crisis Investing editor Nick Giambruno speaks with Jim about this idea. It's a fascinating discussion we think you'll enjoy… Full Story
In the aftermath of the global economic crisis of 2008-2009, governments throughout the world have fostered a tenuous recovery predicated on massive increases in money supplies and debasement of currencies. Note however, that monetary debasement is not a recent phenomenon; it is simply the natural life cycle of money. There are six well-defined stages in the life cycle of money. Full Story
With Libya suffering dire economic problems, a stash of golden and silver coins worth $184 million locked in a Gaddafi-era vault in the eastern city of Beyda could be worth its weight in gold. The snag is, the local officials don’t have the code. Full Story
This COMEX Gold Futures Market infographic guides you through the largest gold futures market in the world, COMEX. Did you for example know that only 1 in 2500 contracts on COMEX goes to physical delivery whereas the other 2499 contracts are cash-settled? This corresponds to a delivery percentage of 0.04% of all gold contracts. The US government claims to hold a fair bit of gold in reserves but how much is it really holding? Full Story
For many years we have warned of the dangers of derivatives. We were laughed at leading up to the 2008 financial debacle when Lehman broke and nearly took the entire system down. That turned out to be no laughing matter and here we are again at exactly the same situation where derivatives threaten to melt the financial system again. The difference now of course is the "saving ammunition" has already been spent where sovereign treasuries and central banks have destroyed their own balance sheets. Full Story
The problem is, if you’re a wicked money printing central bank, busy debasing our entire society, you can’t stop the music because everybody would lose purpose quickly – with all falling down – like Humpty Dumpty. Nope – there’s no rest for the wicked – our wicked central planners – because you can’t taper a Ponzi scheme. This self-evident truth was confirmed this past week when the Bank of Japan (BOJ) disappointed stimulus junkies and didn’t ease, sending the Nikkei down 600 points in just a few minutes. Full Story
The best performing precious metal for the week was gold, down just -1.15 percent on a slightly stronger dollar and better than expected U.S. retail sales. Money flows for gold are benefiting from what Bank of America is calling an “equity exodus.” The bank points out that while $7.4 billion in equity outflows have taken place over the past five weeks, $3.5 billion went into bonds and $1 billion into precious metals. In the first three months of 2016, investors snapped up gold at a record pace, and even commodities investor Dennis Gartman told CNBC that he is becoming more bullish on the yellow metal. Full Story
By: Peter Schiff, President and CEO Euro Pacific Capital - 16 May, 2016
During a lengthy interview on CNBC the week before last, Donald Trump, fresh from becoming the presumptive Republican nominee, came as close as any major presidential contender ever has to saying that America is not capable of repaying her debts in full, and that our path to economic recovery might involve some pain for our creditors. This moment of candor earned Trump almost as much condemnation as his earlier suggestions to ban Muslims from entering the United States. Full Story
The price of gold moved down about sixteen bucks, while that of silver dropped about three dimes. In other words, the dollar gained 0.3 milligrams of gold and 0.04 grams of silver. We continue to read stories of the “loss of confidence in central banks.” We may not know the last detail of what that will look like—when it occurs one day. However, we will wager an ounce of fine gold against a soggy dollar bill that it will not look like today with the market bidding dollars higher. Full Story
Jordan Roy-Byrne of The Daily Gold, makes his show debut, offering his book free to our listeners. His work suggests the PMs sector has found support, the low is in place and a nascent bull market could be emerging. David Gurwitz, Managing Director at Nenner Research returns to the show. David and his business partner Dr. Charles Nenner apply their mathematical constructs to the market to glean information about future price levels. Full Story
By: Steve St. Angelo, SRSrocco Report - 16 May, 2016
If the cumulative global silver deficit since 2004 of one billion ounces wasn’t large enough, a data revision published by the Silver Institute shows the actual figure was much higher. How much higher? A great deal when the additional revised amount would totally wipe out all the silver at the Comex and Shanghai Futures Exchange warehouses. Full Story
It is my privilege now to welcome in author, lawyer, television pundit, and Forbes columnist Gordon Chang. Gordon is a frequent guest on Fox News, CNBC, and CNN and is one of the foremost experts on the Chinese economy and its geopolitics and has written a book on the subject called The Coming Collapse of China. Full Story
Under financial repression the money that you earn does not compensate for the forward inflation on your investment. This is slowly eating up the savings of investors and bond holders in a period of low inflation, and is done so by the central bank to help aid governments and debtors in paying off the massive pileups of debt. We can expect this trend of financial repression is to go on for the time being due to the position most corporate firms and the government is in right now, as most economists believe a slight increase in interest rates would be catastrophic for the economy. Full Story
The rally out of the February low was much different than the rally out of the summer low of last year. In terms of breadth this rally has been one of the strongest in the last 50 years. Considering that all asset classes (stocks, gold, oil. and the CRB) were completing multi-year cycle lows it makes sense that the rally would be exceptionally powerful. Full Story
Jordan Roy-Byrne of The Daily Gold, makes his show debut, offering his book free to our listeners. His work suggests the PMs sector has found support, the low is in place and a nascent bull market could be emerging. The gold shares tend to lead the charge in sustainable rallies, which is occurring in 2016. Our guest finds the recent PMs shares bottom comparable to the end of the 1942 NYSE low, following the Great Depression. Full Story
A strong yen has put great strain on Japan’s export-driven economy this year. It has also made it even harder for the central bank to attempt to extricate the nation from the grip of a deflation that has persisted for more than two decades. Trying to stimulate exports all along, the banksters at times have seemed quite serious about pushing the yen lower, which lately has meant into negative territory. Now it appears they are going to give it another try. Full Story
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