The miners often lead the metals at various points, and it’s possible Gold and Silver could push up to $1800 and $18.50, even as miners correct or consolidate. In the larger picture, GDX remains in breakout mode with a measured upside target of $50. A retest of previous 7-year resistance around $31-$32 would be healthy and normal. Full Story
The mid-tier gold miners in the sweet spot for stock-price upside potential have enjoyed a massive run since mid-March’s stock-panic lows. They’ve already more than doubled in the couple months since! Their just-released Q1’20 operational and financial results reveal whether these huge gains are righteous fundamentally, whether this uptrend is likely to persist, and how COVID-19 shutdowns are affecting gold miners. Full Story
JFK’s “Chinese curse” meme seems appropriate to the coronavirus crisis the world has been struggling through for the past two months. We know covid-19 came from China, and its effects have certainly changed the way we live, work, conduct business and travel. Several people I’ve talked to comment wryly on how the new normal sure is “interesting”. Full Story
We are now entering the final part of the endgame of the latest fiat experiment and the actions of the Fed and other Central Banks virtually guarantee that most currencies, including and especially the dollar, will end up totally worthless, just like in the Weimar Republic in Germany in 1923. Full Story
The silver market is on the move. In fact, it’s finally moving out ahead of other precious metals and showing some real leadership. After the panic selling of March briefly brought spot silver below $12/oz, prices have since surged by 50%. That’s an impressive move to take place within the span of just two months. Full Story
I am writing in response to the comments you made in a letter to investors yesterday, which were widely reported. You have set the gold community afire, with claims that are not new and not true. So I shall attempt to douse the flames. As everyone knows, President Roosevelt outlawed the ownership of gold in 1933. Although gold was legalized in 1975, fears linger today that the governments may repeat this heinous act. There is no reason for this fear. In 1933, Roosevelt had two monetary policy goals to accomplish by banning gold. Full Story
The chart above speaks for itself. You could not find a more bullish chart set-up in the stock market. Note that the HUI/Dow ration bottomed out in late 2019 at the same level where it bottomed in late 2000. Most investors in this sector were not around for the beginning of the precious metals bull market in late 2000. But you can see the big move that started in 2008 – for which many of you were around – actually began 8 years early at a much lower level. Full Story
Suppose you wanted to run an enterprise the right way (we know, we know, this is pretty far-out fiction, but bear with us). And, your enterprise has a $1 million dollar piece of equipment that wears out after 10 years. You must set aside $100,000 a year, so that you have $1 million at the end of 10 years when the equipment needs replacing. There’s a word, now archaic, to describe the account in which you set aside this money. Full Story
Growing physical demand will stress The Banks and their system to greater degrees, and the eventual collapse of this scheme will lead to a new pricing structure that is related to supply and demand of physical metal, not the supply and demand of digital derivatives.
When this day comes—and these current spreads may signal that it's coming sooner rather than later—the price discovered for physical gold and silver will likely not be $1745 for an ounce of gold and $17.85 for an ounce of silver. What will the price be? Full Story
It’s time to book a little profit, but not too much, because a major breakout is in play for most miners. A move above $1800 for gold should turn this breakout into a rocket ride towards all-time highs, for most component stocks in both GDX and GDXJ! Full Story
In my previous article, I’ve written about how important US dollar movements are for future Silver prices. The chances of a significant Silver rally during US dollar strength is very low; and it is very high during US dollar decline. Full Story
The CFTC knows for sure the real story, as does the Justice Department as well as well as the super crooks at the CME Group, as it would be impossible for any of them to be that clueless. But aside from encouraging and facilitating short term selloffs, time may have finally run out for the big shorts. Particularly in a macroeconomic environment which would appear to foster continued and increasing gold and silver buying, the 8 big shorts would seem to be in a bad position. And even if they do succeed in smashing prices temporarily, there is no guarantee or even likelihood of generating the massive speculative selling they need to get off the hook.
The silver story was always about the concentrated short position and when the final chapter is written that will become obvious to all. Full Story
So, Trump frets and claims that coronavirus rates are “coming down in most parts of the country” and the country “wants to be open and get going again.” However, cases have risen where reopening took place too quickly. Yet he insists that “we have prevailed” on testing and suggests anyone could get a test, all of which proved false. Yet poll after poll shows disapproval for his handling of the crisis, claiming not enough is being done, and shows support for lockdowns despite vociferous and sometimes violent objections. The DJI fell another 500 points. Trump attacked Fauci’s comments as “unacceptable.” Trump is pressuring Powell to move to negative interest rates. Full Story
Nervous investors have been pouring into the gold and silver markets over the past two months. Money Metals Exchange is proud to have helped almost 20,000 new customers with a precious metals purchase in recent weeks, many of whom came over from other dealers struggling with inventory shortages and ridiculous delivery delays. Full Story
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