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Weekly Archive

By: Avi Gilburt - 28 June, 2019

However, when the market turns towards its bullish inclinations, as it has potentially done with a 5-wave rally off the May lows, simply reaching a level in an indicator which has been viewed as an “overbought” reading is not bearish. Rather, these indicators will embed during a strong bullish move (most specifically a 3rd wave). This often fools everyone who is reading the indicator in the same way during a bullish trend as they do within a bearish trend. The same applies to the COT. We have seen many instances where the market has entered very long periods of extreme bullish action against the positioning of the commercial traders. So, again, I would not view this as dispositive of the nature of the market. Full Story

By: David Haggith - 28 June, 2019

Rule #1 of war: never underestimate your enemy

A strike on Iranian soil, if the present hot conflict turns into that, as it very nearly has, is likely to turn out much different than all the wars the US has involved itself in over the past two decades. It will be worse than Afghanistan — a pack of terrorist largely armed with machine guns, grenades, land mines and mortars. It will be worse than Iraq, which was fought over fake uranium yellowcake and fake weapons of mass destruction in a battle that never left Iraqi soil. It will be far worse than Libya or Syria, battles that also never left those nations because the last thing either of the regimes in those countries wanted was to engage with the US any more than necessary when they had their own internal wars to fight that were consuming all their energy. Full Story

By: Chris Waltzek Ph.D., GoldSeek Radio - 27 June, 2019

- A sea change in central bank attitude towards silver occurred recently in Moscow, where stockpiles include seventy pound bars of silver.
- If the trend continues, the already dwindling supply conditions could reach a tipping point faster than anticipated by most financial models.
- Against the unprecedented backdrop of over 90 : 1 silver to gold ratio, once silver closes above $21 on a weekly basis, Bill Murphy expects the price to rapidly begin an ascent to the $50 peak of 2008 / 1980, build a new base and ignite the 2nd rocket stage onward to triple digits. Full Story

By: Dave Kranzler - 27 June, 2019

At the end of the day, it doesn’t really matter how homebuilders “feel” about the sales environment now or in six months, declining foot traffic translates into falling sales volume. The quote above reinforces my theory that the “pool” of potential homebuyers, especially first time buyers, who can qualify for a mortgage and afford the monthly cost of home ownership is drying up. Lower interest expense from lower mortgage rates somewhat offsets high prices relative to income. However, the general cost of home ownership other than debt service is rising beyond the spending budgets of many potential home owners. Full Story

By: Jeffrey A. Tucker - 27 June, 2019

Here are crucial tips to turn the Libra into one of history’s truly seminal creations:

Make it as good as gold. Backing your new money—as you plan to do—with a basket of currencies won’t cut it. In today’s monetary system the values of currencies jump up and down, so you won’t get the stability you need.

Countries that became global powerhouses–Holland, followed by Britain (Isaac Newton, as director of the Royal Mint, fixed the pound to gold at a ratio that held for more than two centuries) and then the U.S. (thanks to Alexander Hamilton)—all had their currencies linked to gold. Full Story

By: Ted Butler - 27 June, 2019

Yesterday, the Department of Justice and the Commodity Futures Trading Commission announced yet another settlement, both criminal and civil, for “spoofing” and market manipulation in COMEX precious metals, this time against Merrill Lynch, a unit of Bank of America. The infractions occurred hundreds of times starting at least in 2008 and continuing through 2014. While Merrill Lynch and Bank America settled criminal charges via a deferred prosecution agreement and a $25 million fine, separate criminal charges are pending against a number of former individual traders. Full Story

By: Stewart Thomson - 26 June, 2019

- Having said that, long-term investors should not try to top call this market. Gold is staging a major upside breakout on the charts, and the fear trade is the main price driver now. Hedges should be reduced, and aggressive speculators should hold call options on quality miners.

- Almost all major US money managers and analysts are predicting a major dovish pivot for the Fed at the upcoming July 31 meeting.

- Unfortunately for members of the Trump administration “fan club”, these analysts are basing their outlook on a peaking business cycle and the horrifying (and potentially inflationary) effects of the tariff taxes tantrum currently being thrown by the administration. Full Story

By: Gary Christenson - 26 June, 2019

Harry Dent, Wall Street cheerleaders and others assure us that our debt-based currency units Ponzi Scheme will not drive gold prices to new highs. It is also possible that friendly aliens will land a flying saucer in the White House rose garden, Elvis will return for a TV special, and the Easter Bunny…
Full Story

By: Avi Gilburt - 26 June, 2019

Now that we are over $10,000 we must provide readers a warning. We have five waves complete off our December low, so a correction should start imminently. While it is still possible Bitcoin can push up as high as $13,000, a correction is overdue. Few are bearish, and suggestions that this parabolic rise have just begun to fill the news.

So, are you ready for $0 Bitcoin? Well, isn’t that what we were hearing from so many back at the end of 2018? Full Story

By: Stefan Gleason - 26 June, 2019

Last week Bank of America CEO Brian Moynihan touted new developments in digital payment systems while speaking at a Fortune conference. He said, “We want a cashless society…we have more to gain than anybody from a pure operating costs.”

They gain – at the expense of our financial privacy. A cashless society is the end of a long road to monetary ruin that began many decades ago with the abandonment of sound money backed by gold and silver. Full Story

By: Frank Holmes, US Funds - 25 June, 2019

Ladies and gentlemen, we have liftoff!

After breaking out of a five-year trading range, the price of gold surged above $1,400 an ounce last week for the first time since 2013 on expectations of a U.S. rate cut. The 10-year Treasury yield fell to around 2 percent, its lowest level since November 2016. Meanwhile, the pool of negative-yielding government bonds around the world hit a fresh record high of $13 trillion. Full Story

By: David H. Smith - 25 June, 2019

Pressure is building. You may think you're not living in a "financial blast zone." But neither did that doomed volcanologist who woke up that morning on a ridge 6 miles north of Mount St. Helens' peak. After finding himself directly – and unexpectedly – in the path of an explosion traveling 90 miles per hour, his last radio transmission was, "This is it!"

Don't let time run out before taking action to protect your finances. Learn from what others, across cultures, have done ahead of time for thousands of years, and from what millions of people around the globe are doing today.

The clock on the coming eruption of the gold (and silver) volcano is ticking... Full Story

By: Craig Hemke - 25 June, 2019

In conclusion, now is the time to prepare for what's next. You can look to profit and make some additional fiat, or you can simply begin a new stack of physical precious metal. Just do something. Don't dilly, dally, dicker, and doubt.

And, or course, acquisition of physical gold and silver is easy... you can even hold it in your IRA! You can store it at a trusted gold bullion storage company or in your own, personal safe. You can hold it in gold bullion coins or silver bullion bars. Take your pick. Just be sure that you that you buy some or add to your existing stack before price moves higher and away, leaving you to flail and chase after it. Full Story

By: Hubert Moolman - 25 June, 2019

If the comparison with the 1980s pattern is justified, and the current pattern continues in a similar fashion, then gold will continue in a long bear market. However, as expected, this was not the case since the patterns have now diverged.

The breakout at the top red line (the high at point 5 – $1 375) almost certainly signals or confirms the bull market. This is a divergence from the 1980s pattern, and indicates that prices will rise really fast from hereon. (because when dealing with fractals, the biggest price movements occur when two fractals diverge – a breakout at the top red line is a sure divergence). Full Story

By: Stefan Gleason - 25 June, 2019

The super-rich and large institutional investors who are more apt to take contrarian positions in overlooked assets generally prefer gold over silver because it is more convenient for them to accumulate in large quantities.

We are still in the stealth phase of a precious metals bull market. When we enter the public participation phase – and demand for physical bullion increases – we have no doubt that silver will shine. Full Story

By: Chris Waltzek Ph.D., GoldSeek Radio - 24 June, 2019

- Our guest thinks silver which market price is below the cost of production, an extremely apealing bargain.
- Robert Ian stops by with an impromptu, must-hear editorial.
- Dr. Martenson is a strong advocate of the personal freedoms / security benefits associated with decentralized currencies.
- He notes that cryptocurrencies have a key place in the global economy, but cautions that uncertainty surrounding the future.
- Regulators have mostly held to a laissez faire, hands-off policy, viewing the new technology as an email / internet like "fad." Officials appear to be blissfully unaware that digital money will eventually replace fiat.
- Cryptos offer safe and reliable transfer of wealth / assets, contracts and sales transactions, due to increased security. Full Story

By: Michael J. Kosares, USA Gold - 24 June, 2019

“For twelve consecutive years, gold was up every single year whether there were inflation fears, deflation fears; strong dollar, weak dollar; political stability, political instability. It didn’t matter – strong oil, weak oil. . . Gold went up for twelve years. . . When gold embarks upon its next move, I believe that you will see that long wave take gold relatively quickly, but it will be measured in years, up to a $3000 to $5000 target that I believe is fundamentally justified based on the facts we have today.” –– Thomas Kaplan, Electrum Group (Bloomberg’s Peer to Peer Conversations with David Rubinstein) Full Story

By: Keith Weiner, Monetary Metals - 24 June, 2019

Wow! What a week for dollar! It dropped a whole milligram from 23.2 to 22.2mg gold. The dollar is now at its lowest level in years, and on the verge of breaking down.

We insist that the dollar cannot be measured in terms of its derivatives, such as euro or pound. These currencies depend on the dollar, not the other way around. When all the dollars are sucked out of them (when they are fully de-dollarized) they will be worth exactly zero. Well, though in a more abstract sense, the dollar is derived from gold. When all the gold is sucked out of the dollar, then the dollar (and any dollar-derivative currencies that may have survived until that point) will be worth zero. This is Keith’s permanent gold backwardation thesis.

Anyways, on a more pedestrian note, the price of gold shot up $58 and the price of gold rose rather less by proportion, ¢47. That brings the gold-silver ratio to a new high. Full Story

By: Avi Gilburt - 24 June, 2019

So, while some have stopped out on their short trades and are expecting the market to pull back so they can get an entry on the long side, experience has taught me that this can be a cruel market with regard to letting people on the train once it has left the station. While their analysis failed to recognize the rally setup before it began, they are now relying upon luck to provide them an entry opportunity, as they are now hoping for a pullback. But clearly my money is not betting on it as long as we continue to hold our support pivots, which we will continue to raise should the price continue to rise in the coming week. Good luck to all.

Note: I am not invested in GLD. I do not view GLD as my primary product for being long in the complex. Full Story

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