By: Adam Hamilton, Zeal Intelligence - 7 July, 2017
The gold miners’ stocks have drifted lower over the past month, slumping back to major support. This weakness has naturally intensified the bearish psychology engulfing this small contrarian sector, traders want nothing to do with it. Yet summers typically see gold and its miners’ stocks meander sideways to lower. These summer doldrums spawn the best seasonal buying opportunities of the year in gold stocks. Full Story
CEO Daniel Mark Harrison in Singapore kicks off the new segment, Tales from The Crypto-Sphere, with an overview of his blockchain based hedge fund. Monkey Capital is scheduled to go public in 8 days! This highest rated ICO is a decentralized hedge fund that will invest in SpaceX contracts, digital assets and hostile takeovers. His firm differentiates itself by offering a partnership with Token holders who get 100% of the venture return! Full Story
The London Metal Exchange (LME) and World Gold Council have just confirmed that their new suite of London-based exchange-traded gold and silver futures contracts will begin trading on Monday 10 July. These futures contracts are collectively known as LMEprecious. The launch of trading comes exactly 11 months after this LMEprecious initiative was first official announced by the LME and World Gold Council on 9 August 2016. Full Story
August Gold is struggling to hold above a 1217.50 Hidden Pivot support and would need to pop to at least 1248.30 in the next 3-5 days to get out of jeopardy. Failing that, we might expect the futures to continue down to at least 1194.40 in search of traction. That is the midpoint Hidden Pivot of the large corrective pattern shown, and it seems likely to provide a great bottom-fishing opportunity if and when it is touched. In the meantime, I’d suggest trading with a bearish bias, presumably by shorting minor abc rallies at D targets or p midpoints, or by using ‘camouflage’ set-ups to initiate such trades with-the-trend. Full Story
Over half the world’s population, living in the Eurasian land mass, understands that gold is money. The leaders of the Asian nations also know that this is true as well. The leaders of the security and economic alliance of the Shanghai Cooperation Organisation, which now incorporates most of these peoples, also know that to become independent of Western hegemony and to forge their own way, they must abandon Western financial systems and markets, replacing them with a new monetary order, serving their own needs. Full Story
Gold attracts its fair share of detractors. But the most common objections to gold as money, and as a safe-haven asset within an investment portfolio, are misplaced. Anti-gold myths are ubiquitous. Mega billionaire Warren Buffett remarked derisively of gold that it “gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again, and pay people to stand around guarding it. It has no utility.” Full Story
Our expectations remain that the cyclical bull market in the dollar is over, and a breakdown below long-term support will rejuvenate the move higher in gold – as well as the next leg lower in real yields. From our perspective, it is the dollar's relative historic extreme that presents the largest catalyst for a continued move lower in real yields and a resumption of the bull market in gold. Full Story
By: Steve St. Angelo, SRSrocco Report - 6 July, 2017
The biggest frustration to many precious metals investors, is why have the gold and silver prices under-performed the market since 2011? Actually, for gold it was since 2012. Even though gold hit a new record high of $1,900 in September 2011, its average annual price was higher in 2012 at $1,669 compared to $1,571 the prior year. Full Story
The King Dollar is mortally wounded. Many notice but the masses seem largely unaware. Since 1971, the Gold Standard has been removed from its anchor position. But since 1973, the Petro-Dollar has taken its place. It has called for crude oil sales led by the Saudis and OPEC to be transacted in USDollar terms, for oil surpluses to be stored in USTreasury Bonds, and for some kickbacks from the Saudis to the USMilitary complex for weapons purchases. Full Story
If you’re looking for action, the commodities sector has traditionally been a good place to find it. With wild price swings, massive up-cycles, exciting resource discoveries, and extreme weather events all playing into things, there’s usually never a dull day in the sector. That being said, it’s hard to remember a more lackluster period for commodities than in the last couple of years. Full Story
Gold is one of nature’s finest creations. On the other hand central banks create trillions of fiat currency units – dollars, euros, yen, quataloos, whatever – from nothing and use those currency units for purchases … Apple stock, salaries for a thousand Ph.D. economists, office buildings, lobbyists, politicians, gold bullion etc. Full Story
Gold ownership is traditionally a form of battening down the hatches against these recurring financial storms and, for the minority who adhere to it, is an effective and ever-ready defense. Nialls Ferguson, the economic philosopher, summed up what a good many were thinking in the wake of the 2008 meltdown when he said: "Those few goldbugs who always doubted the soundness of fiat money – paper currency without a metal anchor – have in large measure been vindicated. But why were the rest of us so blinded by money illusion?" Why indeed. . and why, pray tell, are so many blinded by it now? Full Story
Federal Reserve Chairwoman Janet Yellen says she is planning more hikes in the Fed funds rate, but you wouldn’t know it by watching the markets. So far the response in foreign exchange, bonds, and equities isn’t what people expected. Markets have always been notorious for behaving unpredictably. But in an age when central bankers micromanage virtually all markets, the behavior could be the result of careful planning. Maybe the recent market action was only unpredictable for those of us outside of the FOMC conference room. Full Story
Gold has arrived at my $1220 - $1200 conservative investor buy zone. The market is seasonally soft in the summer months, but two key price drivers are poised to create the next rally. The first is the US jobs report. It’s scheduled for release on Friday at 8:30AM. Market participants are going to be looking at wage price inflation as much as they are looking at the total number of jobs created. Full Story
By: Steve St. Angelo, SRSrocco Report - 5 July, 2017
What we have is a totally propped-up market based upon debt. Energy isn’t producing positive growth, really. So instead of having real economic growth, we have inflated economic growth and inflated asset values. When growth starts to decline, I think we’re going to see the valuations of assets decline considerably. It’s anyone’s guess how quickly they can fall, but according to what I have been looking at, I think we are going to see a 50% decrease in real estate values right off the bat. Full Story
The past decade’s historically low interest rates convinced millions of Americans to buy cars they could only afford with hyper-cheap credit. This made auto sales one of the drivers of the recovery, but it also left far too many people with underwater “car mortgages” that will limit their spending on other things and prevent them from buying their next car until sometime in the 2020s. Full Story
It appears the US Dollar has bottomed following an intermediate degree correction. This suggests that the dollar will rally for 6-8 weeks while gold heads lower. Gold has decisively broken down through its 200 dma. Traders are in a bull market mentality and will try to buy gold’s dips until sentiment becomes bearish. Expect gold to continue lower over the next 4- 8 weeks. Full Story
The price of gold dropped from $1,241 as of Friday’s close to $1,219 on the close Monday, or -1.8%. The price of silver fell from $16.58 to $16.11, or -2.9%. It is being called a gold and silver “smash” (implication being that one party or a conspiracy is doing the smashing). Our goal is to help you develop a clear understanding. The move today is no mystery. Monetary Metals makes an intensive study of the spread between the spot market—where metal is bought and sold—and the futures market. Full Story
The head of SchiffGold, Euro Pacific Capital, and Euro Pacific Gold Fund (EPGFX), returns. Despite the coordinated efforts of the PTB to cap the price, gold has still ascended about 10% in 2017. Their efforts are in vain as the price of gold will inevitably reach its intrinsic value, north of $2,000. In Part I of this riveting discussion with global financier, Martin Armstrong of Armstrong Economics, discusses his two upcoming seminars. The Forecaster was one of the few to correctly anticipate the runaway bull market in US equities. Full Story
We have a war on cash. I think that's pretty well known to the listeners, so we see it everywhere. India just abolished its two most popular forms of cash. They literally woke up one day and they said, I think it was the 2,000 rupee note and the 1,000 rupee note, if I'm not mistaken. I believe those are the right denominations. Not worth a whole lot by our standards, worth like $15 or whatever. But they were, by far the most popular and widely used, widely circulated bank notes in India. Full Story
Today is called a recognition day when it finally becomes apparent that the trading range is ending and you have a massive breakout move. We can still get a backtest to the breakout point which would represent the 2nd area to take a position. Today GLD gapped below the HS backtest to the bottom rail of the black bearish rising wedge and that very important SR line which last week I said came into play around the 117 area. Full Story
Sometime in the coming days, the London Bullion Market Association (LBMA) plans to begin publishing gold and silver vault holding totals covering the network of commercial precious vault operators in London that fall under its remit. This follows an announcement made by the LBMA on 8 May. There are seven commercial vault operators (custodians) in the LBMA custodian vault network namely, HSBC, JP Morgan, Brinks, Malca Amit, ICBC Standard Bank, Loomis (formerly Viamat), and G4S. Full Story
The best performing precious metal for the week was silver, with a fall of just 0.51 percent with platinum just behind that. Following wild price swings on heavy volume Monday and Tuesday in a suspected erroneous trade, gold traders and analysts remained bullish for a second week, reports Bloomberg. On Monday, 1.8 million ounces of the yellow metal were sold in a single minute and on Tuesday prices spiked in early European trading with about 815,000 ounces of gold bought in five minutes – a suspected reverse on the Monday fat finger trade. Full Story
For the first time in US history a handful of US states is teetering on the edge of bankruptcy. Illinois is about to be downgraded to junk bond status, which will turn its financial problems catastrophic overnight. Illinois cannot possibly pay its accumulated debt, its unpaid medicaid expenses and its future retirement obligations, so bankruptcy almost certainly will be its only way out. Full Story
By: Steve St. Angelo, SRSrocco Report - 3 July, 2017
It’s no secret that the East (Asians and Indians) continue to acquire a lot of gold as Western demand has weakened this year. According to the most recent data released by the USGS – United States Geological Survey, U.S. gold exports surged during the first four months of the 2017 versus the same period last year. Full Story
Intermarket analysis is a rather new field in technical analysis but one of my favorites because it is critical in understanding Gold. Asset classes like stocks and bonds are enormous and aren’t as influenced by as many factors as Gold. Trends in stocks, interest rates, commodities and currencies impact Gold in one way or another. We have written many articles over the years analyzing Gold with respect to its outlook and standing in real terms. Gold, when in a true bull market outperforms against all currencies and the global equity market. Full Story
Let’s establish three facts up front. One, the volume of contracts traded was not “millions” (as at least one conspiracy theorist is claiming). During the 1-minute window when the price of gold dropped from $1,254.10 to a low of $1,236.50 and recovered to $1,247, 18,031 August gold contracts traded. There was negligible volume in the October and December contracts. Full Story
Gold has closed below its intermediate uptrend line. This is the first confirmation that a lager intermediate degree decline has begun. However the dollar should be in an all out panic next week as the bloodbath phase reaches a climax, so gold may not be ready to accelerate lower just yet. That will come once the dollar turns and starts the next intermediate rally. Full Story
Some more of the same choppy, confusing action from many stocks with the SPX and Russell 2k holding up well, but the Nasdaq is struggling on the backs of the leading large stocks/FAANG, since they are so heavily weighted within the Nasdaq index. The metals still can’t get anything going at all so remain an avoid. Keep it simple, and be patient waiting for easy setups who look to be a week or two away now. Full Story
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