There are clear supply pressures coming to the gold market, so the last thing it needed was a new source of demand. But that’s exactly what it’s about to get, and as you’ll see, it could potentially push supply into a strained predicament. If this new development catches on it could lead to some fireworks in the gold market. Full Story
We’ve been asked this question many times from both subscribers and gold industry insiders. Regular Katusa Research readers are familiar with the allure of owning gold and its long history as money. People have used gold for thousands of years because it is portable, durable, anonymous, divisible, convenient, and consistent around the world. And most importantly to many people, gold cannot be debased by governments like paper money can be. Full Story
Gold bull markets offer outstanding opportunities for traders to grow their wealth. These bulls consist of series of alternating uplegs and corrections. Naturally the best times to buy low within ongoing bulls are right after corrections when major new uplegs are being born. Gold uplegs have three distinct stages that are evident in real-time in key datasets. Understanding how gold uplegs play out leads to superior gains. Full Story
President Trump's top candidate for the next chairman of the Federal Reserve Board appears to be former board member Kevin M. Warsh, who has complained repeatedly about the Fed's manipulation of markets and in 2009 revealed to GATA that the Fed has secret gold swap arrangements with foreign banks. Full Story
Between escalating tensions with North Korea and a U.S. Congress in gridlock, it can sometimes be challenging to stay positive. That’s why I’m pleased to share with you this good news: Our China Region Fund (USCOX) was up more than 45 percent for the 12-month period as of September 22, 2017, beating its benchmark, the Hang Seng Composite Index (HSCI), which gained 20.7 percent over the same period. This means USCOX outperformed the index by roughly 25 percent. Full Story
Martin Armstrong of Armstrong Economics, notes that capital flight continues to plague the markets. As investors / institutions search for safety and returns amid an economic environment of negative interest rates and unfavorable conditions. The Forecaster is one of the few guests to correctly identify the US equities bull market. Armstrong expects the rally to continue for years, perhaps as long as 2024, sending the stock indexes to unimaginable heights, at least 25k Dow Jones. Full Story
September’s Federal Reserve meeting left interest rates unchanged but sounded a hawkish tone. The Fed seems intent on hiking interest rates again come December. Following Fed chair Janet Yellen’s remarks this Tuesday, interest rate futures markets bumped up the odds of a year-end rate hike to 81%. The more immediate – and perhaps more important – policy move pending from the central bank is its plan to gradually reverse its Quantitative Easing bond buying program starting in October. Full Story
The notion that there is art involved in interpreting the economy and financial markets is probably heresy to many market participants and probably 99.9% of economists (that .1% guy being the one who’s excluded from the meetings and egghead social gatherings), whether they be right or left leaning (I always find it entertaining to hear right wing and left wing economists duke it out, as I did on NPR yesterday, coming to diametrically opposed conclusions amid the tax reform debate). Full Story
On 21 September, ICE Benchmark Administration (IBA) announced that it will take over the administration of the daily LBMA Silver Price benchmark auction beginning Monday 2 October. This LBMA Silver Price auction is the successor to the former London Silver Fix auction. The auction takes the form of trading unallocated silver positions on an electronic platform. The resulting price from the daily auction provides a daily silver price reference rate or benchmark which is used widely throughout the global precious metals industry. It is also now a Regulated Benchmark, regulated by the UK Financial Conduct Authority. Full Story
For the precious metals investors who are disillusioned by a stock market that continues to rise towards the heavens while the gold and silver prices remain in the doldrums, you have my sympathies. However, fundamentals and the truth always win out in the end. Although, it has been quite difficult to follow an investment strategy based on ethics and integrity… it seems that many people today believe it is okay to sell one’s soul or integrity to make a buck. Full Story
We are now at a crossroads of sorts as it would pertain to the global financial markets in the sense that "consensus thinking" has the masses all buyers of "paper" and sellers of "tangibles," and given the performance of paper versus tangibles since the bottom in 2009, is there even a basis for debate? One could argue that gold has actually been a better bet since the turn of the century as shown by the chart below. Full Story
If the Fort Knox Bullion Depository gold exists, as claimed, there is little reason to refuse a comprehensive audit. Since all requests for a comprehensive audit have been rejected, it seems likely that a “cover-up” continues. If an unpopular President wanted a political victory, he would have ordered an audit of the Fort Knox gold if an audit had been a viable option. Since no audit was initiated, it seems likely that a gold audit would have produced problematic results with unanswerable questions. Full Story
In a move that was little noticed outside of the financial world, China announced the creation of an oil futures contract (open to international traders) that will be denominated in Yuan and convertible into gold. This move provides the first official linkage of oil to gold, and more importantly a linkage between the Chinese currency and gold. While the contract volumes that will be traded on this new platform will certainly be minuscule in comparison to those in the dominant markets of New York and London (at least initially), I believe the move is the latest, and perhaps most significant, step that China has taken down the path that could lead to a global economic system that is not fully dependent on the U.S. dollar. Full Story
By: Theodore Butler and Jim Cook - 28 September, 2017
Here’s a recent interview I did with Jim Cook, President of Investment Rarities, Inc., for whom I’ve consulted for more than 17 years (where did the time go?). It’s gotten to the point where about the only interviews I do are with Cook, but that’s not due to our long relationship. Rather, it’s because he comes prepared and wastes no words, making my role easy. With Cook, it’s always about getting to the heart of the matter, with the least amount of fluff as required. Full Story
This is a topic that financial writers should cover in more depth, but it also needs to be covered accurately. From the very beginning individuals have been trained to view crashes as disasters, and in doing so, they miss an opportunity of a lifetime. One has to wonder why so many experts almost purposely go out of their way to proclaim the next crash will mark the end of everything. History is not on their side and the average person having failed to examine history is none the wiser. Full Story
The dangerous provocations between North Korea and the United States haven’t yet escalated enough to rattle financial markets. The U.S. stock market notched another new record high last week, helping to blunt safe-haven demand for gold and silver. The North Korea situation is, however, causing political reverberations in the crytpo-currency markets. Following China’s recent crackdown on crytpo-currency exchanges, U.S. officials may be gearing up for a regulatory attack on Bitcoin as part of an economic sanctions package. Full Story
Nick Barisheff of Bullion Management Group (BMG) and author of $10,000 Gold: Why Gold's Inevitable Rise Is the Investor's Safe Haven (2013)returns. Our guest shares positive comments on the precious metals sector. As digital security issues plague the modern financial system, safe haven investing is becoming increasingly important for every investor. Readers / listener are advised to perform a free check to see if their information was stolen via the Equifax Potential Impact Tool Full Story
Tonight I would like to update some of the different commodities and emerging markets we took some positions in back in late July of this year. First, let me say that as investors we like everything to line up in perfect harmony so we can make some sense out of what is actually happening in the markets. It’s just human nature. For example, if the US dollar is doing this then the PM complex or the commodities should be doing that. There is a general rule that there is an inverse correlation between the US dollar and the PM complex or commodities, but it’s not always accurate. Full Story
The last Gold Market update, posted at its recent peak on the 11th, called for a significant reaction back by gold, and that is exactly what has since happened. It also called for a rally in the dollar, which hasn’t happened – yet, but as we will see in this update, it looks likely to happen soon, and given that gold’s COTs have barely eased on the current reaction to date, it therefore seems likely that gold will lose more ground on a dollar rally. Full Story
Spending $26.95 to pick Ray Dalio’s brain for over 16 hours listening to the audiobook appears fantastic value to me. The thought crossed my mind to offer Mr. Dalio a charity donation in his name if he gave me the opportunity to make it a two-way conversation over lunch. But that wouldn’t have been consistent with his (or my) Principles. Instead, I’m offering my radically truthful review for $0. The challenge for Mr. Dalio is whether reading this review will be time well spent. Full Story
The stock market’s gratuitous price swings have become so tedious and exhausting lately that it would be tempting for serious market-watchers and traders to take a month off. Mr. Market is surely trying to tell us something, but exactly what may lie beyond a rational person’s patience and understanding. My gut feeling is that the bull market begun in 2009 is in its death throes, unable to make headway against grave political and economic uncertainties that should have killed buyers’ enthusiasm long ago. Full Story
Today is options expiry day for gold. That’s almost certainly the reason for gold’s pullback today, after it staged a powerful rally yesterday. A pause in the price action is normal around these expiry events. The October options contract is expiring, which is recognized by traders as an important one. Traders will now focus on December options. Full Story
The risk to the precious metals market is that the dollar may have formed an intermediate cycle bottom and the euro an intermediate cycle top. The euro is up against a major resistance level which is unlikely to be broken on its first try. This video explains why it is risky to press the long trade in precious metals at this time. Full Story
We had a stink bid in at the opening, but gold’s ebullient leap from well above it left us choking on dust as we played spectator for the remainder of the day. The chart (see inset) shows a subtle but very compelling rally target at 1320.50, and I have little doubt the futures will get there. However, if the rally is going to suck in more bullish buying, it will need to impale D=1320.50, the more brutally the better. Today we’ll just watch, learn and plan. Full Story
Janet Yellen has quipped that the Fed’s balance-sheet reduction program, which will start at $10B/month in October-2017 and steadily ramp up to $50B/month over the ensuing 12 months, will be as boring as watching paint dry. However, like many financial-market pundits she is underestimating the effects of the Fed’s new monetary plan. Full Story
Recently, I had the privilege of appearing on “Countdown to the Closing Bell,” Liz Claman’s program on Fox Business. When asked if I was nervous that stocks are heading too high, I said that I’m very bullish. All around the world, exports are up, GDPs are up and the global purchasing manager’s index (PMI) is up. Full Story
By: Chris Mullen, Gold Seeker Report - 25 September, 2017
I had the opportunity to attend much of the first two days of a 3-day cryptocurrency/blockchain conference in Aspen late last week. I was able to participate in and share small spaces with many interesting viewpoints. Some, like Doug Casey, echoed back to days from over a decade ago when I saw him speak in Vancouver to a much larger packed house. Others were brand new to me, like Colin Cantrell, who explained how bitcoin is run by 7-8 mining pools that currently control the market and how he is developing tech to break this control. Sound familiar, Gold Seekers? Full Story
The Fed wants us to believe that it remains hawkish, that it will begin the process of unwinding its $4.5 trillion balance sheet next month and that it will hike rates again this year. The markets aren’t buying it, even for a second. The top performing asset class after the Fed concluded its announcement on Wednesday was… TREASURIES: the asset class that should DROP hard if the Fed intends to raise rates. Full Story
Typical of FOMC meeting weeks, we tend to see the precious metals take a hit. The best performing precious metal for the week was palladium, off 0.43 percent on little market moving news. Ford announced that it will add more downtime to five North American automobile plants due to a decrease in demand as inventories rise on dealer lots. Full Story
For the U.S. Retirement Market Ponzi Scheme to continue, there must be a new group of suckers to pay for the individuals who are receiving benefits. Without a new flow of funds, the Ponzi Scheme comes crashing down. Such was the case for the individuals who invested in the $65 billion Bernie Madoff Ponzi Scheme that came crashing down in 2008. Full Story
Now, as I have said many times before, exogenous events will not cause a change in the longer-term direction of the market. Moreover, I have cited many studies which prove this point based upon historical analysis of surprise news events and market reactions. So, while this apocalyptic event may trigger the market to sell off (which we have been expecting of late), as long as we remain over the 2300SPX region support, the long-term rally will remain intact, and I will still expect us to next head up to the 2600SPX region. Full Story
Carl Menger, father of the Austrian School of Economics, showed the world that money is not the product of the state. He did not mean that government is intrinsically incapable of decreeing something to be money while other groups, organized for different purposes, could do it. He described how money emerges as the commodity which is most marketable (“absatzfähigkeit” in German). Full Story
Chris Blasi, President of Neptune Global LLC makes his show debut. In 2001 the precious metals sector entered a new secular bull market that could extend 20-25 years, unlike the decade long bull of the 1970's. Andy Schectman of Miles Franklin Institute (28 year old firm with $6 billion in sales) rejoins the show. He outlines ways to avoid the hurdles of purchasing / storing PMs. His firm requires mandatory background checks and a large surety bond to protect clients from potential counterparty risk. Full Story
It is the Kim and Donald show. As in Kim Jong Un the North Korean Supreme Leader, and Donald Trump the US President. Donald Trump threatened to “totally destroy” North Korea and made fun of Kim as the “Rocket Man.” Kim responded by calling Donald Trump a “mentally deranged U.S. dotard.” For those not in the know, a dotard is someone who is old, useless, and demented. Also refers to someone who is lethargic and dull. The two have been exchanging colourful threats and insults back and forth now for some time. North Korea followed the latest one up by suggesting they might test a hydrogen bomb over the Pacific. Trump called Kim a “madman.” Full Story
This video looks at the reasons for bull markets to often end in parabolic blow offs, and reveals how the use of sentiment data can be used to identify these conditions in advance. Full Story
It seems as if Mother Nature is waking up. Either she's trying to send humans an important warning, or perhaps she's just out to kill us all. Massive storms across the globe, earthquakes, and collapsing ecosystems all combine to remind us that we are indeed intimately connected to our planet's natural systems. And that our well-being rests on staying on Mother Nature's good side. Full Story
If you’re idly conversing with someone you don’t know well, the weather is usually a safe topic. It affects everyone in some way, so it’s a shared experience – but there’s something else, too. The weather is no one’s fault. It is what it is, so you need not worry that the other person will blame you for it. None of us can control the weather. And lately, the weather has been interesting, unless you had to live through its more extreme manifestations. Then it’s been hell. Full Story
I have made countless posts lampooning the mainstream media and its eyeball harvesting, click baiting content. This content and especially the associated headlines (let’s recall the classic R.I.P. Bond Bull Market as Charts Say Last Gasps Have Been Taken, dated Dec. 2016 as but one example) are designed to whip up emotions, draw attention and thereby gain traffic and ad dollars (diminishing though they are these days). nftrh.com is and always will be ad-free, by the way. Full Story
The Morgan Report is all about YOU and how you can build and preserve Wealth for generations to come. We know it can sometimes seem a daunting task to protect your assets and preserve or grow your wealth. Over 15 years ago, a small group of us started The Morgan Report and formed an exclusive membership organization to promote personal freedom, an honest money system, free market wealth accumulation and asset protection. Full Story
Quiet action for the most part in stocks but I am seeing some signs of strength to come in the short-term and you can find out more on that at my free blog. As I’ve said, I will be retiring my newsletter business the end of September and just trading, living, travelling, and I will still write when I see something worthy of words. Time is expensive, spend it wisely. The metals may be ready to take a turn higher after a nice healthy rest so let’s check the charts. Full Story
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