Gold has been frustrating for bulls and bears since its crash in Q2 2013. In the two years since it has traded in a wide range, frustrating traders and investors. The net result has been nothing but the passing of time. Until Gold breaks above $1300 or breaks below $1150, we will remain in waiting mode. Personally, I believe Gold is far more likely to break lower in the weeks and months ahead. In any case, we are still waiting. Full Story
To sum up, the data on global trade indicate that the worldwide economy is slowing down. It may be partially due to the contraction and reduced liquidity. Currently, the risk of illiquidity shock is one of the main concerns of the global economy. The weak economic activity should be positive for the gold prices, as would an eventual recession or international financial crisis. Full Story
The Great Delusion that Many Investors still (but decreasingly) entertain is that The Central Bankers “have everything under control and have not created any Bubbles, and that, therefore, the Economy is recovering.” But those Main Stream Media and Central Bank Narratives are increasingly being exposed as Delusions. And the Bubbles became increasingly evident, and Dangerous. Full Story
If investors ever needed physical gold in their portfolios, now is the time. Now is the time to protect even a well-diversified portfolio against the risks inherent in financial assets (equities, debt) and tangible assets (real estate, fine art, etc.) alike. If you hadn’t noticed, geo-political uncertainties are at a high pitch, what with failed states (Iraq, Libya, Syria) and terrorist victories in the Middle East, East-West Russian roulette in Central Europe, and rising tensions between the United States and China as the PRC seeks to extend its territorial claims in the South China Sea. Full Story
By: Adam Hamilton, Zeal Intelligence - 29 May, 2015
The great endeavor of investing can be distilled down into four simple words, buy low sell high. They are so basic, so resoundingly clear, that even a child can understand this principle. Yet still the great majority of investors never achieve significant success. Even while full-well knowing the core idea of investing, they end up buying high and selling low. That treacherous struggle of investing must be overcome. Full Story
Every new chemistry student is warned about the dangers of pouring water into acid. The water causes the solution to boil over violently, splashing concentrated acid out of the container. Full Story
Elvis and I had lunch last week. We dined on Sasquatch burgers, fried Unicorn fritters, and we were joined by “the lone gunman.” We had our special luncheon in the main vault room of the Fort Knox Bullion Depository in Kentucky. It was practically empty so converting it to a dining area was relatively easy. Full Story
Markets this week have been all about renewed dollar strength, with precious metals side-lined. The only notable move was when gold lost $20 and silver 40 cents on Tuesday, following holidays in the US and UK on Monday. The reason for the sudden fall was the dollar strengthened against the euro, which faces a possible Greek exit, and also the yen for unspecified reasons other than its recent consolidation looks to be over. Full Story
The aggravated global financial situation is working toward a series of powerful climax events. The various USDollar platforms are either undergoing seizure or suffering from abandonment by primary players. The grand Reich Finance application is failing finally, with extraordinary lies, propaganda, market rigging, doctored statistics, and $trillion patches leaking. The Western banking system is being lashed at another level, after the multi-lateral lashing with derivatives tied the big Western banks all together following the Lehman killjob in 2008. A new global lashing has begun to show itself, yet another obscenity. Full Story
Have the horses left the barn? One of the major tenants of Dow Theory is that the averages must confirm each other. The key to this basic tenant is that no important bull or bear market can take place unless both averages agree with each other. Originally, Dow Theory was referring to the Industrial and Rail averages. Today the theory refers to the Industrials and the Transports. It is not necessary for the two to confirm a signal simultaneously but they should be at least relatively close together. Full Story
By: Jeff Clark, Senior Precious Metals Analyst - 28 May, 2015
Have you noticed the trend in mainstream headlines over the past week? The gold price may be stagnant, but forces behind the scenes signal that something big is gelling. What conclusion would you draw from this rundown of recent headlines? Full Story
What’s so curious is that just as the silver (and gold) COMEX price manipulation becomes more blatant and easier to prove, those being damaged the most by it, silver producers, are nowhere to be found; even though there is much they could do to end the damage inflicted on shareholders by artificially depressed prices. Let me explain how the price manipulation is becoming more obvious and then what mining companies can do about it. Full Story
There appears to be little or nothing in the monetarists’ handbook to enable them to assess the risk of a loss of confidence in the purchasing power of a paper currency. Furthermore, since today’s macroeconomists have chosen to deny Say’s Law[1], otherwise known as the laws of the markets, they have little hope of grasping the more subtle aspects of the role of money in price formation. It would appear that this potentially important issue is being ignored at a time when the Eurozone faces growing systemic risks that could ultimately challenge the euro’s validity as money. Full Story
A quick review for newer subscribers: In Q1 2013 we noted that the Semiconductor Equipment industry was in “ramp up” mode per a personal source in the industry. After that pivotal period, we have relied on the Semi Equipment ‘book-to-bill’ ratio as a monthly checkup on what is often an important economic leading indicator. The Canary chirped in 2013 and it is still singing a sweet song today. Full Story
A Carry Tax… or tax on physical currency… is coming. The Fed and other Central Banks literally took the nuclear option in dealing with the 2008 bust. Collectively, they’ve printed over $11 trillion and have cut interest rates to zero for nearly six years. All of these efforts were focused on driving in trashing cash and forcing investors/ depositors into risk assets. But these policies have failed to generate growth. Full Story
Everywhere I go I’m asked, “Will there be inflation or deflation? Are we in a bull or bear market? Is the bond bull market over and will interest rates rise?” The flippant answer to all those questions is “Yes.” And that can be the correct answer as well, but it depends on what your time frame is and what tools you use to measure the markets and inflation. One of the newer members of the Mauldin Economics team is Jawad Mian, who writes a powerful global macro letter from his base in Dubai. Full Story
By: Steve St. Angelo, SRSrocco Report - 28 May, 2015
Yes, that’s correct. Something BIG is about to happen to silver. Now, how this plays out is hard to tell. Recently released new data points to a situation that will force a BIG move in the silver market. In addition, there have been some very interesting movements in the flow of silver bullion. As I mentioned in the article Why Is The U.S. Importing So Much Silver Bullion??, U.S. silver bullion imports surged 44% in the first months of 2015 compared to the same period last year. Full Story
Tonight I would like to show you some really big consolidation patterns in regards to some big cap tech stocks mainly the networking and semiconductors. I have shown you some of these big bases in the past but now I’m going to create a brand new portfolio based just on these big patterns. It definitely won’t be as exciting as trading in and out all the time as the game plan will be to hold these stocks for a minimum of two years, no trading. This will be an investment portfolio based on these massive consolidation patterns. Big base or consolidation patterns equals big moves. Full Story
The 1183.40 downside target given here yesterday allowed subscribers to get long four ticks off the intraday low. Since I received reports of actual fills in the chat room, I’m establishing a tracking position: long two contracts with a cost basis of 1180.90. That’s based on an initial purchase of four contracts, with half exited at 1186.00, the approximate midpoint of the 5-point rally that ensued. For now, we’ll look to exit a third contract three ticks below the 1189.20 target shown, at 1188.90. For now, make the order o-c-o with a stop-loss on the entire position at 1184.80. Full Story
Has America turned into a mindless mob incapable of thought independent of the status quo – a zombie nation as it were? In watching how the masses still embrace corporate and political sycophants aimed squarely at exploiting the them, continuing to embrace mindless consumption and never ending false promises, the answer to this question undoubtedly remains in the affirmative, given things are changing as the disenfranchisement process picks up speed. Full Story
Prominent analysts have announced often and persistently that gold will drop to $1,000, $850, and even below $500. Mainstream media, “gold-bashers,” and banks encourage the “gold is going lower” meme. But gold is real money, in contrast to the paper stuff that is valuable only as long as people, businesses, and countries retain confidence that it will devalue, but only slowly. The world runs on paper and digital fiat currencies so don’t expect banks, central banks, or western governments to encourage or support gold. Full Story
Let's break this list down into groups. Numbers 1-4 pertain to your "paper assets". When the system comes down and is reset, do not count or rely on your paper wealth as an "asset". There are two problems, first whether your institution will even survive and then of course whether the paper itself retains value. The basic premise is to rely as little as possible on paper and the institutions holding that paper. #4 is notable because having some capital outside of the West and within the BRICS ahead of time will leapfrog any capital controls put in place. Full Story
The blogosphere is rife with talk of the “death of the US Dollar.” The US Dollar will eventually die, as all fiat currencies do. But the fact remains that it is the reserve currency of the world. And everyone on the planet has been borrowing in US Dollars for decades, or leveraging up using Dollars. Full Story
Capitalism means free markets, the opposite of central planning. How could anyone look at our financial system and call it a free market? We have central planning of the most fundamental price in the economy: the rate of interest. Central banking is a key feature, not of capitalism, but of socialism. Indeed in The Communist Manifesto, Karl Marx states, “5. Centralization of credit in the hands of the State, by means of a national bank…” Full Story
The specter of interest rate increases in the US hangs over the precious metals sector like the Sword of Damocles. The Federal Reserve has stated that they want to ‘normalize’ rates now that the period of Quantitative Easing is over. Employment figures published by the Department of Labour have shown a steady increase in the number of jobs created over the last twelve months or so. On the inflation front; core prices, which exclude food and energy rose at a yearly pace of 1.8% for the month of April, which is the fastest monthly rise for almost a year. Full Story
Memorial Day is a very nostalgic, solemn day for me. America is a nation of immigrants, and most of us can trace our roots to some place other than the US. For many Americans, this means European ancestry. I can’t claim any lineage to any passengers on the Mayflower, nor did any of my ancestors cross the vast prairies of the Midwest in covered wagons. Like yours, however, my ancestors came to America in search of a better life. Full Story
"No one saw it coming." That was the popular refrain following the 2007-2008 financial crisis – explanation and excuse all rolled into one short, neat sentence. This time around, though, it's different. A chorus of naysayers, led by some of Wall Street's most respected figures, has come front and center to warn investors of a troubled economy and tenuous financial markets. One analyst aptly described the situation facing investors as being "trapped in a Twilight Zone" between the end of Fed's money printing policies and its first rate hike. Full Story
The mere fact that the two traders – foreign nationals operating from the Middle East no less – were able to spoof the market years after Sarao was prosecuted for using the same technique demonstrates once again that the Commodity Futures Trading Commission isn’t serious about protecting pure price discovery. In fact, there’s a preponderance of evidence that the CFTC has allowed price rigging on a much larger scale for decades. Full Story
The title is of course a little misleading because China has many options, none of which except one in my opinion will actually work. Options to what exactly you ask? Options to a collapsing global economy and an imploding financial system which will surely affect China as much as anywhere else, but with one caveat. I take these events as a given, others do not but betting against an outright panic and global bankruptcy is betting against pure mathematics itself. Full Story
Today is gold options expiry day on the COMEX. As expiry day approaches, gold has a tendency to trade sideways to lower. Option traders tend to focus on round numbers, like $1200. As they battle amongst themselves for higher or lower prices, their actions can effectively cancel each out, and the price goes nowhere. On expiry day, both put and call options often expire with little or no value. Full Story
By: Peter Schiff, President and CEO Euro Pacific Capital - 26 May, 2015
In any event, many market watchers are grabbing at the San Francisco Fed report to conclude that Janet Yellen will raise rates this year, despite the weakness that the unadjusted GDP reports indicate. Such a conclusion is premature. I believe that the Fed wants us to think that the economy is strong, in the hopes that perception may one day soon become reality. If people think the economy is strong their optimism could influence their spending, hiring, and investing decision. As a result, optimistic Fed pronouncements should be considered just another policy tool; call it "open mouth operations." But I do not believe the Fed has any actual intention of delivering the rate increases that it may expect will damage our already weak economy. Full Story
First I would like to go back to last year. On May 17, 2014, I published an article on the Chinese silver market, “Chinese Real Estate Debt Settled In Silver?”. Based on an article from Want China Times, I wrote real estate debt in the Chinese city Ordos was settled in physical silver. Real estate debt of 1 million yuan was settled with 500,000 yuan in silver, according to Want China Times (WTC). Full Story
The US national debt exceeds $18 Trillion, NOT including off-balance sheet items, Fannie and Freddie, and unfunded obligations such as future payments for military pensions, Social Security, Medicare, and more. Depending on who is counting, add another $100 - $200 Trillion in debt. Full Story
Just a little more background on the grotesque CoT report that was sent out late Friday. I've seen some commentary and "analysis" this weekend and it all seems to focus upon the "buying of the specs". This kills me...the buying of the specs. As if that's the big story. Full Story
Harriet Hunnable, executive director of precious metals markets at CME group, speaking recently in London said that the Shanghai Gold Exchange is the most successful challenger so far in terms of liquidity in the gold market versus trading houses in the West. She added that the CME Hong Kong kilobar gold contract is doing phenomenally well for such a new product. As the physical trading in London has come to crawl due to fear of regulatory oversight this is a positive move as it increases transparency hopefully becomes the benchmark for gold price setting. Full Story
Between the court ruling and the Obama administration’s push for stronger fiduciary rules send a strong message that government can much easier seize the pension fund management industry of course to “protect the consumer”.
In this article we discuss the real impact of interest rates on the price of gold. As it is obviously, there is a lot of talk about an interest rates hike in the media worldwide. As a consequence the decreasing price of gold should follow. However, the task of science is not to repeat what the media have to say, but to put the serious doubt on whatever the media have to say. So, we do believe that the interest rates hike could follow pretty soon, but it’s not the task of this article to discuss if there will be or will not be an interest rates hike. Our intention is actually to show that there is no reason to believe that as a consequence of an interest rates hike there will be a decreasing trend in the gold price. In contrary, the price of gold could even rise and many people could be surprised by this increase. Full Story
Gold buried? No, I suspect it is just resting awaiting the next financial crisis that could be getting closer. Besides, as David Stockman points out the Economist has proven in the past to be an excellent contrarian indicator. It might pay to own some physical bullion either in accounts or as coins. Full Story
Arch Crawford, head of Crawford Perspectives, elucidates listeners with comments on the impending FOMC rate hike, slated for September / December 2015. He's doubtful that domestic economic conditions are robust enough to sustain a rate hike. Arch is concerned by the US equities market, which is making 118 year highs on extremely low volume, which he thinks is a sign of manipulation. The discussion includes Martin Armstrong's market timing model, which seems to coincide with the Hebrew Shemita (Shmita) a seven year cycle of amnesty. The cycle is nearing another seven year zenith, coinciding with the expected Fed rate hike this Fall. Could an FOMC rate increase trigger a global economic landslide? Many recent guests certainly think so. Full Story
Austria is repatriating gold from the vaults at the Bank Of England (BOE) at this very moment, according to Kronen Zeitung. The OeNB (central bank of the Republic of Austria) stored 82 % of its 280 tonnes at the depository in England. It will start by bringing back 110 tonnes to Austria, to eventually have 50% on own soil. Full Story
On Wednesday, six major banks got more than just their wrists slapped by various authorities including The Fed, the Department of Justice, the Commodity Futures Trading Commission, the New York State Department of Financial Services, and the U.K. Financial Conduct Authority. Full Story
Not all of the gold promoters are saying we need a gold standard nor are all the gold promoters saying we need austerity. What they are saying is if gold wasn’t such a manipulated mess, leverage may never have reached the absurdity that it is today. Governments may never have accumulated such obscene levels of debt crushing their citizenry. Full Story
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