I realize that the situation in Europe can be very confusing. Aside from the fact that we’re dealing with over 20 different countries all with their own respective economies and debt issues, we also have the European Central Bank and the numerous bailouts and bailout funds (the LTRO 1 and 2, the EFSF, the ESM and now the OMT) to keep track of. Full Story
By: The Gold Report and Cosmos Chiu - 2 November, 2012
Cosmos Chiu, a director and research analyst with CIBC in Toronto, focuses on midtier gold producers, but his coverage gives him a leg up on truly understanding royalty companies' assets. In this interview with The Gold Report Chiu talks about how much longer royalty companies could continue to outperform the rest of the market, while also discussing some of his favorite jurisdictions. Full Story
Summing up, the short and medium term picture for Crude Oil is bearish which may translate into lower precious metals prices in the near future. The general stock market is mixed for the short term and the final support line for stocks has not yet been reached. With Election Day looming, however, some strength is possible for stocks in the coming days. This will probably have a positive impact on the precious metals. Based on Friday’s decline, it seems that the bottom in the precious metals sector might have just been reached. Full Story
By: Scott Wright, Zeal Intelligence - 2 November, 2012
Silver is no doubt tiny on the grand commodities scale. But its attractiveness, spearheaded by a 1000%+ bull-to-date gain to its latest high, has spawned a wide range of products for investors to partake in. And one of the most unique and powerful is the SLV iShares Silver Trust ETF. Full Story
By: Richard (Rick) Mills, Ahead of the herd - 2 November, 2012
Prospectors are today still scouring the bush, in remote, and not so remote places – chasing the rainbow and its pot of gold - looking for the next discovery. Alaska, Canada’s Yukon Territory and Province of British Columbia are still vast and underexplored places. Full Story
One of the most common questions that I’m asked goes something like this: “If the deflationary long-term cycle is in its ‘hard down’ phase until 2014, why should we expect gold’ value to rise? Shouldn’t we instead expect to see a rising dollar along with a falling gold price?” Full Story
Those who invest and trade on False Assumptions risk being trapped into losses and Serious Wealth Destruction. Those who are aware that certain commonly accepted Assumptions are False have substantial Profit and Wealth Protection Opportunities. For example, it should be clear to all that acting on certain commonly accepted but often False assumptions – like “Buy and Hold” is the way to make money in stocks – is as a general rule (to which there are only a few exceptions) often a surefire way to lose money. Full Story
I want to thank Mr. Hendry for calling the bottom of the recent correction in the "Gold stocks to Gold" ratio. Because this was only a minor/short-term correction in a fledgling new uptrend in this ratio, Hendry's comment was not as powerful a contrarian signal as the plethora of articles on how crappy Gold stocks are relative to Gold that appeared last spring and summer (like this one). However, this recent comment sure is going to prove to be timely in my opinion. Full Story
A nasty Golden Harp could soon have its cords plucked, with the resonance working to shake loose the bankster cover of improper illicit duplicitous and probably highly illegal usage of Allocated Gold Accounts. When diverse scattered accounts are pilfered and depleted without authorization in Switzerland, resulting in several multi-$billion class action lawsuits in Zurich, all kept dutifully out of the news, that is one thing. But when a few key official government gold accounts are ransacked in systematic fashion from established trusted locations, defying and betraying the trust of the German Govt and other national governments, that is quite another. Full Story
Technical analysis is a great tool for analyzing where the market has been. Since human beings almost always behave in cyclical fashion, we can observe patterns in market action that tend to repeat. Combined with fundamental studies, TA is applied to the markets by virtually all of the successful traders. Full Story
DELEVERAGING, like Hamlet's nothing, is only good or bad when you come to think about it. And what view you choose speaks to your moral view of the world too, and so to your economic theory as well, whether or not you know it. Because for every "liquidationist" saying the debt must be paid down, and savings must be built up before a new cycle can begin, there is another economist urging government and central banks to take on releveraging themselves, so the net effect is nil. Otherwise we're doomed to a permanent depression. Full Story
Our leaders want a weaker dollar and a stronger Chinese renminbi (RMB). That’s our assessment based on recent comments by President Obama, presidential hopeful Romney and Federal Reserve (Fed) Chair Bernanke. If you join them in that call, OK, just be careful what you wish for, or at least consider taking action to protect your portfolio. Full Story
The ‘Mr Gold’ of the 1970s and former adviser to the Hunt Brothers, Jim Sinclair is hopping mad over rumours that gold might be subject to confiscation above $3,000, something that happened in the US in the 1930s but would be totally impossible in the modern world. Full Story
The markets will be limping badly when they open for trading on Wednesday, numbed by the destructive power of Hurricane Sandy. The cleanup is going to take many weeks if not months, and cities up and down the East Coast will be in a daze until basic services have been restored. Pumping out the saltwater that gushed into tunnels and subways will be relatively easy compared to fixing and replacing electrical switches and components. Full Story
"Your credit card may soon be worthless." That's the notion being promoted by many in the investment industry these days. They are referring to a new technology that is supposedly Visa's worst nightmare and a threat to the status quo of the credit-card industry worth billions. And they are positioning one small company as the holder of the secret keys to cash in on what is promised to be a multibillion-dollar shift in the way we pay for everything from a candy bar to an oil change. But is it really true? Will this technology really turn the credit-card industry on its head? Full Story
Gold turned defensive in recent weeks, weighed by global growth concerns, persistent economic uncertainty in the eurozone and the United Sates, along with a rising lack of clarity about the likely outcome of next week's U.S. Presidential election. However, downside potential is thought to be limited by continued robust demand for the precious metal as a hedge against the global debasement of fiat currencies, as well as ongoing central bank demand for the purposes of reserve diversification. Full Story
The United States presidential election is just a week away. Markets can become range-bound at such times, because institutions are reluctant to commit themselves until they know the outcome of the election. An extra dose of patience is required at such times, both by investors and technical analysts. Chart patterns can be distorted. In turn, that makes predicting market prices more difficult than usual. Full Story
By: Steve Saville, The Speculative Investor - 30 October, 2012
In the 1st October Weekly Update we described three signs that will likely be seen at around the time of, or just prior to, gold's ultimate price top. First, we said that by the time the ultimate top of gold's bull market is close at hand the general public will have given up on the idea that returning to economic health requires more money-printing, more government spending and more debt. The purveyors of such economic quackery will still have their fans, but they will most definitely be in the minority. Full Story
We are wrapping up October with markets far and wide in the midst of corrections of varying degrees. The US stock market is following some old clichés in that it apparently hates the uncertainty of the upcoming presidential election and well, it is the spooky month of October after all. The market has done everything it was supposed to do this October and the correction is not yet indicated to be over. Full Story
The question of when gold’s long awaited ascent will happen is not without precedence. A similar question is still being asked by the Jews concerning the appearance of the Messiah. Prediction has always been an inexact science. Full Story
Today, personalized medicine seeks to move away from the one-size-fits-all, trial-and-error approach that has defined drug R&D and patient treatment basically since the time of Galen of Pergamon in the 2nd century AD. It increasingly focuses on matching the biological characteristics of each person with the best treatment options available and dosing for them, and in the future even perhaps the development of specific drugs for specific patients. Full Story
By: Eric Sprott & David Baker, Sprott Asset Management - 29 October, 2012
Other than some obligatory arrests for disorderly conduct, the Occupy Wall Street movement celebrated its one year anniversary this past September with little fanfare. While the movement seems to have lost momentum, at least temporarily, it did succeed in showcasing the growing sense of unease felt among a large segment of the US population – a group the Occupy movement shrewdly referred to as “the 99%”. Full Story
I spent the latter half of last week at the New Orleans Investment Conference, talking with investors, mining companies and analysts about the state of the gold industry. The annual conference falls at an interesting time of the year, as the price of gold typically corrects in October. In fact, going back 30 years, the historical seasonality of gold has been to rise during September, with a subsequent correction in October. Full Story
For me, gold is neither an investment nor a speculation. I do not trade gold; I hoard gold. Gold is my insurance policy against financial calamity and my hedge against economic collapse. I think that every smart investor should have a portion of his net assets in physical gold. Gold is money. Everything else is just a constantly devaluing piece of fiat paper or a keyboard stroke that is deemed by one insolvent government or another to be money. Full Story
By: Dr. Ron Paul, U.S. Congressman - 29 October, 2012
The only solution to this mess is to allow the US housing market to clear. All of the bad mortgage debt must be liquidated, whether via foreclosure or bankruptcy. Banks holding substantial mortgages or mortgage backed assets must face the music and adjust their balance sheets to reflect today’s reality. Undoubtedly this will force many banks into immediate insolvency, but such banks must be allowed to fail without receiving another nickel of taxpayer money. Banks took the risks and made money during the bubble years; those who exercised bad judgment must now accept the consequences of their actions. Full Story
By: John Mauldin, Millennium Wave Advisors - 29 October, 2012
This week, in a somewhat shorter letter, we once again consider the vagaries of measurements and models. Growth of the US economy, we are told, was 2% last quarter. That number will of course be revised, but what is it we are measuring? Should we attach any importance to the measurement at all? The short answer to the last question is yes, but it is important to understand that there is no certainty in that number. Or at least not any certainty according to the generally accepted meaning of that word. Full Story
Suddenly the calm is over and the storm is upon us, at least in the North West USA if not yet in financial markets. That said the trouble brewing in those markets looks about to turn into a once-in-100-year storm too. US political instability is a frightening prospect but that looms large with a very close race for the White House and uncertainty over the composition of the legislature after the elections on November 6th. The automatic austerity of the US ‘fiscal cliff’ on January 1st is far from being automatically avoided and markets loathe this sort of uncertainty. Full Story
It is relatively easy to predict further commodity price inflation and that hard assets, not paper assets, will help protect purchasing power. But it is much more difficult to project where else this money printing leads and to what extent a crash is inevitable. What is the endgame? Will it be another financial crash such as in 2008? Or will it be a more destructive financial and economic crash that causes a severe but temporary disruption in the delivery of goods and services? Full Story
Show Highlights: Guest Interviews. Headline news & the Market Weatherman Report. Host answers phone calls and email questions. Guests: Jorge A. Ganoza, President, CEO and Director Keith Neumeyer, President & CEO: First Majestic Silver Corp. James Turk, GoldMoney.com Full Story
The top in gold was called within a day of its actual occurrence in the last update several weeks back, since which time it has been in steady retreat. This retreat has not been as steep as we had expected, but then, the dollar has not even started a new uptrend – yet. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 28 October, 2012
Zero Hedge tonight calls attention to and mocks a statement given two days ago by Carl-Ludwig Thiele, a member of the Executive Board of Germany's central bank, the Bundesbank, to the German Press Agency (Deutsche Presse-Agentur), that the Bundesbank's gold reserves are stored securely abroad. Zero Hedge notes that the Bundesbank official's statement fails to explain the recently disclosed withdrawal of German gold from the Bank of England: Full Story
The gold price is down almost $100 and silver has shed a couple of dollars an ounce. That is bad news if you have just bought gold and silver. But if you have bought and hold for the past few years you would know it is only what to expect from these precious metals. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 28 October, 2012
The great disparagement about gold in recent years has been that even with its strong price appreciation it has not kept up with inflation over the longer term. The most likely explanation for gold's failure to keep up with inflation is the creation by bullion banks, backstopped by central banks, of a vast imaginary supply, "paper gold." The fear of paper gold is behind the growing belief in Germany that the country should repatriate its gold reserve. Full Story
Gold fell 0.59% for the week. Gold has a strong support level at the $1,700 area with its uptrend line but it’s forming yet another bear flag here which points to a test of the 100 and 200 day moving averages. Full Story
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