While we expected the gold stocks to correct and test GDX $22 and GDXJ $35, we did not expect it to happen so quickly. It literally took only three days! Gold stocks rebounded on Friday and managed to close the week above those key levels. While gold stocks could bounce or consolidate for a few days, we would advise patience as lower levels could be tested as spring begins. Full Story
Would you rather have one bitcoin, or a single ounce of gold? The answer used to be obvious. Even at the climax of the legendary 2013 rally, bitcoin was never able to reach unit-for-unit parity with gold. However, since an off-year in 2014, the enigmatic cryptocurrency has steadily climbed in price to take the title of the best-performing currency in both 2015 and 2016. Full Story
As the Fiscal Year 2018 budget, and particularly its war component are floated, it has become clear that without continued, massive military spending, paid for with mass-produced electrons masquerading as money, U. S. GDP would collapse, taking the country’s financial and monetary systems with it. The nation, whose real economy has been hollowed out, for profit, by the Deep State plunderers, has become significantly reliant upon deliberately contrived wars and military tensions for its economic survival. Full Story
By: Adam Hamilton, Zeal Intelligence - 3 March, 2017
The gold stocks enjoyed a strong surge early this year, fully reversing their sharp post-election losses. While they spent much of February consolidating before sliding, this sector’s seasonals will soon turn very favorable again in mid-March. The gold miners have long enjoyed strong spring rallies in bull-market years. Early March’s seasonal lull is a great opportunity to deploy aggressively ahead of this big spring buying. Full Story
By: Richard (Rick) Mills, Ahead of the herd - 3 March, 2017
The Doomsday Clock was first used in 1947 (it started at 7 minutes to midnight) as a measure of how close humanity is to destroying our civilization. The Bulletin of the Atomic Scientists recently moved its iconic clock ahead 30 seconds, taking the world to 2½ minutes to midnight. Full Story
Since all of the Fed Goon jawboning this week has now raised the odds of a March FOMC rate hike to 147%, we thought it best to write today with some perspective on the past...perhaps unearthing some clues as to why Comex Digital Gold seems to rally every time The Fed hikes rates. The challenge for your host is to somehow make this case logically through the written word only, when this information might be better presented through a podcast. But here goes... Full Story
The very near future is likely to see a sea-change in central bankers’ attitude to the gold allocation in their reserves. The failure of G20 monetary policy since the financial crisis is causing a general rethink, which may eventually lead to a new policy direction. Full Story
Gold pierced the EMA 20, which has supported it through its 2017 rally. A loss of that level would bring on what I’d see as a buying opportunity at around 1200 and/or the now upturned SMA 50. Gold is in waiting for a counter-cyclical or risk ‘off’ backdrop; period. Forget inflation as a gold fundamental for now. If stocks correct sooner rather than later, I’d expect more near-term upside in gold. Full Story
A timely question from a long-time subscriber resulted in crystalizing an idea that was on the distant periphery of my conscious thought. The great thing about the idea is that it fully incorporates all the data points up until now as I have been presenting them. But please be forewarned, even though all the important factual dots seem to be connected, the premise must still be considered speculative at this point. On the other hand, should the premise prove to be accurate, it could amount to no less than the game-changer in silver (and gold). Full Story
It is common for commodities to drop in unison, especially metals and oil, and last night we observed that oil looks set to drop hard soon, which was given added significance by the sharp drop in Precious Metals stocks yesterday, that calls time on the recent gold and silver rally that occurred this year to date. Full Story
One has to marvel at the current bull market in stocks. The bull market to February 28, 2017 is now 2,913 days long with no correction, exceeding 20%. The bull started with the bear market bottom from the 2007–2009 financial crash on March 9, 2009. The granddaddy of all bull markets was the 1990s when the Dow Jones Industrials ran from October 1990 to the high in January 2000 with only one significant correction in 1998, but even it was just under 20%. That was 3,382 days. Stock markets, despite periodic and even sharp corrections, just seem to go higher and higher. Full Story
Andrew Maguire, of Andrew Maguire Gold Trading a 40 year gold market veteran and whistleblower, returns with startling news on the precious metals. Our guest examines the minutiae of the markets noting that decades of manipulation has broken the gold / silver paper markets. As a result, the physical market is reasserting dominance over paper promises. Analysis of the options markets suggests that the 6 major bullion banks via the BOE are locked into losing short-sale positions. Full Story
The Global Real Estate market being so large, it has always been stable and as such it is the favorite of institutions for long term investing - specifically Insurance companies, pensions, trusts endowments, small banks and credit unions etc. However, if it were to be destabilized only slightly it would have profound consequences globally, as well as in the US. The US Commercial Real Estate market presently approximates $13T or about one fifth the annual Global GDP. Full Story
It can be difficult, even for dyed-in-the-wool perma-bulls to hold onto precious metals, let alone buy more. We see the Dow trading above 20,000 (placing this into perspective, is that since 2000, the Dow is up around 65% versus gold's 300%), gold and silver currently languishing below multiple "resistance" points; suspended just above a couple of "support" lines. For long-suffering holders, it feels like the fabled Sword of Damocles dangling over their head, suspended by that proverbial single strand of hair. Full Story
From the fundamental point of view, there are three main reasons for gold’s strength: uncertainty about Trump’s policies; the upcoming elections in key European countries; and, finally, the pullback in the U.S. dollar and the real interest rates, as the fear that the Fed will be behind the curve, letting the inflation genie out the bottle. Let’s analyze them in detail now. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 3 March, 2017
Central banks gave their gold game away in April 2013 when they used the futures markets to knock the price down by more than $200 with relentless selling over several days. The selling had to be inspired by central banks because there was no important relevant news in the market to spook investors and because nobody else would have had access to the huge amounts of metal and capital involved. Full Story
May Silver hit an air pocket Thursday morning, dropping 70 cents, or nearly four percent, in the space of an hour. From a technical standpoint the kamikaze dive tripped a short-sale signal at 17.755 that is tied to a 15.355 target. I expect the nastiness to come down to at least 16.948, the midpoint pivot indicated by the red line. If bulls are going to turn things around, that’s where they’ll have the best chance of succeeding. Full Story
Gold prices have surged (+8.57% EOD Wednesday) since January. However, one expert says that trend could continue. “Shrinking exploration budgets, a dearth of new high-quality deposits and the “fear trade” will provide continuing upside pressure as the year unfolds,” says Brent Cook, editor of Exploration Insights. “Some gold stocks may be overbought right now, but long-term fundamentals are better than ever.” Full Story
Here we go once again: the Democratic party is doubling down on their "Russia influenced the US elections" narrative and are taking it to the next level. They are grasping at any straw they can in an attempt to justify why they got wiped off the electoral college map in the recent elections. Full Story
The only aspect of the SNAP IPO that was more horrifying than the media attention given to monitoring SNAP’s first trade of the day is the valuation assigned to it by investors. Janet Yellen undoubtedly was not thinking about SNAP when she happened to mention in her Congressional testimony last week that “valuation metrics do appear…stretched.” That assertion is unarguably one of the most shameless understatements in history. Full Story
The biggest trade in the world is staring everyone in the face. According to a Bank of America/ Merrill Lynch fund manager survey, the US Dollar is the single most crowded trade on the planet. In a fiat world, the value of a given currency is based on where it trades relative to other currencies. In the case of the $USD, the Euro comprises 56% of the basket of currencies against which the $USD is valued. Full Story
Trump is market magic. The Donald spoke, offering nothing he hasn’t said hundreds of times before in his campaign speeches, and the Dow parted its way through the 21,000 barrier without hesitation. The stock market’s rise from 20k to 21k also tied a record for the quickest 1,000-point gain. How long will this rampaging bull market last? Is 22,000 now an easy reach? Full Story
You see, even when the fundamentals and news are negative, the market still seems to be able to rally. This shows us that something overrides fundamentals or news. So, sometimes market participants care about fundamentals and news and sometimes they do not. That clearly shows that fundamentals and news are not in the driver’s seat, whereas something else is. As I have presented many times, that “something” is market sentiment and we have all seen how it overrides fundamentals. Full Story
With seemingly everyone from the blogosphere to the Tweeter-in-chief chiming in on fake news, have investors considered their risk/return profile may also be “fake”? When it comes to investing, who or what can we trust, is the market rigged, and why does it matter? For eight years in a row now, an investment in the SPX 500 has yielded positive returns.1 In recent years, expressions like “investors buy the dips” and “low volatility” have become associated with this rally. Full Story
It was the summer of 1987 and despite some flirtation with teenage adolescence, we found ourselves on the weekends renting table space in large hotel conference rooms, selling small plaques of cardboard to mostly middle age men seeking to speculate on the prospects of the likes of Bo Jackson and Jose Canseco. Full Story
If anyone claims Precious Metals are not relentlessly suppressed – whilst the “Dow Jones Propaganda Average” is persistently supported, in an increasingly desperate attempt to delay “Economic Mother Nature’s” inevitable arrival – consider gold and silver “trading” since the election. Let alone, since I published the “12:00 PM EST cap of last resort” six weeks ago, after watching this hideous “algo” for more than a decade. Full Story
I have viable targets all the way up to around 25,000, but we’ll take them one at a time, since the rally could end suddenly and at any time, presumably in a way that will take most investors by surprise. We bought a few DIA puts intraday at an ostensibly promising and significant Hidden Pivot resistance, but the Indoos shredded their way past it, leaving the options we’d purchased for 1.00 within 15 cents of being stopped out at 0.50. Full Story
Gold posted its second straight monthly gain in February, the first such time it has done so since the summer, when Brexit-fueled uncertainty shook world markets. In 2017, the yellow metal has now advanced close to 9 percent, cracking the $1,260 an ounce ceiling on Monday for the first time since soon after the November election. Compared to the same number of trading days last year, gold was up 15 percent. Full Story
By: Steve Saville, The Speculative Investor - 1 March, 2017
To know whether or not the Fed has been a long-term success, the reason for the Fed’s creation must first be known. Here is the reason from the horse’s mouth: “It [the Fed] was created by the Congress to provide the nation with a safer, more flexible, and more stable monetary and financial system.” If this is the real reason then over the long-term the Fed has not been a success. In fact, it has been an abject failure. Full Story
This week we’re going to start the letter talking about why tax reform is one of the most urgent decisions facing the body politic today. Tax reform will set the tone and direction of our nation’s economy, not just in terms of taxes but also with regard to jobs and healthcare and indeed the entire fabric of our social contract. I will also hopefully demonstrate that tax reform will not only affect our tax accounting and payments but, far more importantly, it will largely determine the environment in which we earn our incomes and make our investments. Full Story
At some point the stock market needs to break the price trend line to confirm a daily cycle decline. The longer they prevent the natural profit taking correction from occurring the bigger the crash will have to be to break that trend line. Full Story
As far as the GDX is concerned, it is clearly stuck in the mud. It also has had a very bullish micro-structure to it for almost two weeks now, but it simply has not triggered. And, as I noted many times over the last week, if the market has a set up and fails to follow through in that set up, that alone is telling us something. And, when we did not break out two weeks ago, I noted that I was going to be hedging my personal miner’s portfolio, with stops at just over the .764 extension. Full Story
By: Steve St. Angelo, SRSrocco Report - 1 March, 2017
According to newly uncovered information in the gold market, it provides additional evidence of why the Fed, Central Banks and the IMF were forced to RIG the gold market. Actually, looking at this new information, I had no idea of the amount of Fed, Central Bank and IMF gold market intervention until I put all the pieces together. Full Story
In every annual budget debate since the 1980s, one side figures out that the way to get what it wants – which is higher spending – is to frame the request in a particular, ingenious way: We have to borrow and spend way more now if we want to borrow and spend way less later. History has of course proven this argument to be idiotic, but because it moves the pain of living within our means into the indefinite future, it always manages to attract enough votes to win the day. Full Story
If my assessment of this situation is correct, then Central Bankers will seek to control market pricing behavior by words only for now, and not by actually following-through with any actions that meet their words. Based on historical probabilities alone, we shouldn’t expect Central Bankers to follow through on their words. However, in the coming days to weeks, if further actions point to a stronger possibility of a surprise instance of follow-through on actions, which I don’t believe exist at the present time, then as we did at the end of last year, we will assume hedges to deal with the continued resultant volatility in gold and silver asset prices. Full Story
Americans are filing for bankruptcy at the fastest rate in several years. In January 2017, 55,421 individuals filed bankruptcy. That's a 5.4% increase over January 2016. In December 2016, 4.5% more individual bankruptcies were filed than in December 2015. It's the first time in 7 years that personal bankruptcies have risen in successive months on a year over year basis. Full Story
Yesterday was just another period of back-and-forth movement for gold, silver, the USD Index and even the general stock market – but not for precious metals mining stocks. Gold stocks and silver stocks plunged very visibly - there are very important implications of this move and they are not bullish. Full Story
Gold market charts is a recent addition to the BullionStar research offering. Using charts as a central focus, each month we explore the evolution of a chosen set of charts so as to highlight key developments in gold demand, supply and physical movement data across the world's major gold markets. The charts presented are created by the unique GOLD CHARTS R US website and they include Russian gold reserve changes, Chinese and Indian gold demand, and Swiss gold trade flow statistics. Full Story
By: Steve Saville, The Speculative Investor - 28 February, 2017
In response to the 2007-2009 financial crisis, policy-makers in the US who had absolutely no idea what caused the crisis enacted legislation that would supposedly prevent such a crisis from re-occurring. The legislation is called “The Wall Street Reform and Consumer Protection Act”, although it is better known as “Dodd-Frank”. Unsurprisingly, considering its origins, the Dodd-Frank legislation has done nothing to reduce financial-crisis risk but has made the US economy less efficient. Quite rightly, therefore, the Trump Administration is intent on repealing all or parts of it. What are the likely consequences? Full Story
Last week I was in beautiful Argentina with a diverse team of investors and mining executives, including my good friend Frank Giustra; Ian Telfer, founder of Silver Wheaton and current Chairman of the Board of Goldcorp, which has sizeable investments in Argentina; and Serafino Iacono, Chairman of the Board of Pacific Exploration and Production (formerly Pacific Rubiales), which is active throughout South America. Full Story
By: Rick Ackerman, Rick's Picks - 28 February, 2017
The rally pattern shown, with a Hidden Pivot target at 18.260, was so clear and compelling that we should assume that because the futures exceeded it decisively, they have sufficient energy for another leg up once the current correction has run its course. The more quickly this occurs, the better the odds that the next upthrust will take out the key high at 19.120 recorded on election night. That’s a very important benchmark, since any rally that exceeds it would put a 22.024 target in play. Full Story
By: Rory Hall and Dave Kranzler - 27 February, 2017
Were you aware that the Government is starting to implement eye-scanners as part of the airport security protocol? If you doubt that, then read this: U.S. Marshals Scanned My Retina. The TSA circus is all for show. It’s a way for the Government to get us used to following its orders and a way for the manufacturers of the technology used to make billions from selling that technology to the Government. It also is an excuse for the Government to create employment for those who lack the competency to find a job in the private sector. Full Story
In late February of 2013, I posted a musing detailing ways the retail lay investor can maximize his or her experience at the Prospectors and Developers Association of Canada annual convention in Toronto, Ontario. Today’s effort is an update with my suggestions for this year’s gathering: PDAC March 5-8, 2017. Full Story
While everybody’s attention is glued to The Donald on this side of the pond (for all the wrong reasons?), big things, national election things, are happening in Europe this year, starting next month. First we have the Dutch General Election on March 15, which could start the ball rolling towards a breakup of the Europe Union (EU) this year, and not a word from the mainstream media (MSM) in America, only a month away now. Full Story
Gold prices are up more than 11% since bottoming last December. Their gains last week took the gold market right up to its 50-week moving average. In 2015, attempted rallies reversed at the 50-week moving average. Could this level once again serve as a barrier to further price advances? Either way, long-term gold bulls shouldn’t sweat this particular technical level. Major bull markets need to pull back and reconsolidate periodically. Full Story
No event defines how rapidly America’s “leadership” has declined, then last night’s Academy Awards catastrophe. At which, one of its most prestigious accounting firms accidentally handed Warren Beatty the wrong “Best Picture” envelope, causing it to initially be awarded to the wrong movie. Yes, it was a “victimless crime” – but at a time when America’s accounting credibility is at an all-time low, it only adds to the perception of the incompetence that makes it unlikely to become “great again” any time soon. Full Story
The World Bank just released a telling report entitled "Trade Developments in 2016: Policy Uncertainty Weighs on World Trade". Though they deflect the problems in global trade to areas such as excessive regulatory initiatives and policy uncertainty (which is true), what is to be found buried in the appendix are the two un-annotated charts below. I suspect the World Bank didn't compare them directly (they are shown separately) because it would cast a spotlight on an even larger political 'football'. Full Story
Before we get into the meat of this article, we would like to state at the onset that this article is not politically orientated. This election has probably been more divisive than any other election in U.S history. There are those who love Trump and those who detest him. Our views are based on market trends and not politics. Before the election results came in, we went on record to state that a Trump win would from an investing perspective prove to be a great buying opportunity and the masses would panic and dump their shares. We took the same stance on Brexit, and as they say, the rest is history. Full Story
A close below the 10 DMA on the US Dollar would be the “second step” in the confirmation that its daily cycle is rolling over and starting the next leg down in the intermediate decline. The first confirmation was the initial break of the daily cycle up trend line. Full Story
The best performing precious metal for the week was platinum, with a gain of 2.32 percent and closely followed by silver and then gold. Gold traders and analysts surveyed by Bloomberg continue their bullish stance on the yellow metal for the ninth straight week, as prices climb to November highs. Silver is also on a roll, reports Bloomberg. As you can see in the chart below, silver is up for the ninth straight week, which is the longest run of gains since May 2006. Full Story
Before we look at some precious metals stocks I would like to show you a couple of charts which will help explain why I didn’t participate in this last rally in the precious metals stocks that started in December of last year. It’s not that I didn’t want to, it’s just the evidence shows that the $INDU, which I’m going to use as a proxy for the rest of the stock markets, is in a true bull market vs the precious metals stocks. Full Story
As I stated in my last article here that I published in 9 February 2016, one should have disregarded the sensationalistic articles that were touting a massive gold and silver stock breakout back then, because as I explained, even if one presumes that such a breakout is going to happen from whatever analysis one engages in, it is literally impossible to predict the exact day when such an event will occur, save for pure luck. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 27 February, 2017
GATA was formed in January of 1999 by Chris Powell and myself to thwart the manipulation and suppression of the gold price by the leading bullion banks. It became apparent this was the case after the very visible hedge fund, Long Term Capital Management, blew up in September of 1998. They were short some 400 tonnes of gold on their books, which should have been covered, liquidated like all their other positions. To prevent the price of gold from soaring in that event, the likes of a JP Morgan and Goldman Sachs banded together to keep the price below $300 an ounce. Full Story
This holiday-shortened week (Monday was President’s Day in the US), the price of the dollar fell. In gold, it fell almost half a milligram to 24.75mg, and prices in silver it dropped 30mg, to 1.7 grams of the white monetary metal. Flipped upside down, gold went up 23 notes from the Federal Reserve, and silver appears to go up by 41 cents. Full Story
By: Rick Ackerman, Rick's Picks - 27 February, 2017
For tracking purposes, we hold a single contract with a cost-basis reduced by profit-taking to 1174.80. The original four-contract position was purchased off a simple instruction sent out to paying subscribers on Feb 16: “place a ‘mechanical’ bid at 1227.10, stop 1217.40.” As it happened, the stop was never even remotely challenged when the futures swooned to our 1227.10 bid five days later, then turned sharply higher from 1226.80. Full Story
Top money manager, John Ing recently presented to China his forecast for $2,200 an ounce. Our guest is bullish on gold, in the LT. Bob Hoye notes that during every previous post bubble contraction, the real price of gold has ascended, making the PMs a solid portfolio asset, today. Andy Schectman of Miles Franklin Institute ($6 billion in sales) outlines why every investor should diversify their PMs holdings via an offshore account. In 1933, President Roosevelt announced an executive order designed to confiscate gold that included at $10,000 fine. Full Story
In response to a FOIA request the US Mint has finally released reports drafted from 1993 through 2008 related to the physical audits of the US official gold reserves. However, the documents released are incomplete and reveal the audit procedures have not been executed proficiently. Moreover, because the Mint could not honor its promises in full the costs ($3,144.96 US dollars) of the FOIA request have been refunded. Full Story
As we enter 2017, housing bubbles are showing signs of bursting all over the world. I know I’ve been promising I would lay out the economic headwinds for 2017, but 2017’s headwinds are building so fast and furious that I’m having to break that promised article out into several articles, as I’m accumulating material faster than I have time to cover. Full Story
Trump has been President now for just over one month. His approval rating hovers around 38%—down four points since his inauguration on January 20, 2017, and well off the election-day results. It is the lowest approval rating for a sitting President in more recent times, dating back to Ronald Reagan. Indeed, after one month, his approval rating is about the same as Barrack Obama’s lowest rating. However, that hasn’t stopped his Presidency from quickly becoming one of the most controversial ever. Confusion and chaos have been the order of the day. Full Story
Sadly, bubbles used to happen only once in a generation. Once those burned by the last bubble have died off, the younger generation has no living memory to prevent them from getting suckered by the next one. But for some reason, our current generation has something of an addiction to bubbles. We've lived through the tech stock bubble, the real estate bubble, and now we're living inside the 'everything' bubble. What's wrong with us? Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 26 February, 2017
Western central banks may be the corrupt and even evil instruments of the financial class, and to preserve their power they may be prepared to do any amount of damage to the world, particularly by destroying markets, the engines of humanity's economic progress. But stupid? Not when central banks have gained and kept control of the world's money and thus control of the valuation of all capital, labor, goods, and services in the world. What's stupid is any society that doesn't rise up against them or at least demand disclosure of their surreptitious operations. Full Story
If this theory is correct, at least we will have a true American as president and working on our behalf as opposed to a leader giving up the keys to the kingdom and throwing its people under the bus in the name of “fairness”? The “One World Government,” or “New World Order Types” as they identify themselves, are strongly opposed to the individual liberty movement rearing it’s head here there and everywhere. Seemingly, the “people” have thrown a monkey wrench into their plans for a One World Order; here and there and everywhere. Populism to them is like a rapidly spreading cancer, that must be stopped dead in it’s tracks. My assumption is; THE WORLD IS ABOUT TO BE HUNG ON A CROSS OF GOLD. Full Story
By: Jordan Roy-Byrne, CMT, MFTA - 26 February, 2017
The early stages of Gold bull markets (this one included) are characterized by strong outperformance from the miners. They will lead the metals and turning points and register strong outperformance. We saw that in the early 2000s, late 2008 to early 2009 and we have seen it again over the past year. During the recent rebound, the miners rallied back to the “Trump” resistance while Gold is not yet close to doing so. Full Story
We saw some volatility come into stocks this past week after the slow solid grin higher we’ve been enjoying since early November. I do not think this is a top, rather, a little shakeout, or shake and bake. Volatility comes on the upside and downside so we should see some more explosive moves to the upside after this little correction, if you can call it that. The metals continue to show strength even while some miners were flashing weakness mid-week, which had me a bit worried, but gold continues to act great. Full Story
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