By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 2 September, 2011
For the last week and more gold has been on a roller coaster moving between $100 and $200 each way until now where it is hovering above $1,800. A broad spectrum of analysts points to $1,500 or above $2,000. With gold currently just above $1,800 we are around the half-way point for each move. The move each way would represent a move of just over 16%, which is not deeply significant in today’s gold world except for the trading fraternity; there is more, however, beneath these moves than meets the eye! Full Story
By: Doug Casey, Casey Research - 2 September, 2011
Even if you are already wealthy, some thought on this topic is worthwhile. What would you do if some act of God or of government, a catastrophic lawsuit or a really serious misjudgment took you back to Square One? Full Story
By: The Gold Report and Rick Rule - 2 September, 2011
In March of 2011, Global Resource Investments Founder and Chairman Rick Rule predicted a time of unprecedented volatility. As investors struggle to recover from what, indeed, turned out to be one of the most up-and-down months in history, this special Gold Report from his latest web broadcast outlines his secrets for using volatility as a tool to take advantage of new opportunities. Full Story
GOING BY some of the recent headlines, you'd think gold prices had just gone through the most hectic and almighty summer. Yet volatility is running nowhere near the levels it hit when Lehmans collapsed in late 2008. Full Story
By: Peter Schiff, CEO of Euro Pacific Capital - 2 September, 2011
This morning many on Wall Street were stunned by the big fat zero put up by the August jobs report, the worst showing in 11 months. The data convinced many previously optimistic economists that the United States will slip back into recession. I believe that we have been in one giant recession all along that was only temporarily interrupted by trillions of useless and destructive deficit and stimulus spending. Unfortunately, the August numbers will increase the talk of government efforts to stimulate the economy. Full Story
Asset allocation is one of the most crucial aspects of building a diversified and sustainable portfolio that not only preserves and grows wealth, but also weathers the twists and turns that ever-changing market conditions can throw at it. However, while the average advisor or investor spends a great deal of time carefully analyzing and picking the right stocks or sectors, the basic and primary task of asset allocation is often overlooked. Full Story
This will be an August to remember – no summer “dulldrums” this year. Gold has risen roughly 12% this month and nearly 30% year to date. Gold prices had a trading range of more than $300 in August. Full Story
By: Scott Wright, Zeal Intelligence - 2 September, 2011
This last year for silver has been awesome! After a sideways grind in the $15 to $20 range for most of the first three quarters of 2010, silver’s September breakout unleashed a beast that has been nearly unstoppable. By the end of that breakout month silver blasted through its bull high from early 2008, and has more than doubled since! Full Story
Last week the Commerce Department released its revised numbers for Quarter 2 GDP. The results were much less than satisfactory, with annualized ‘growth’ coming in at a pathetic 1.0%. Think of this as an economic stall speed. We know the GDP deflator allows the metric to be overstated to begin with, so it is VERY likely that America has re-entered the ‘great recession’ as it has been dubbed by the media. Full Story
John Williams’ Shadowstats.com provides honesty and accuracy which is a refreshing change from Fed, Government, and Mainstream Financial Media Spin and occasional outright Prevarication. And it is important to consider Shadowstats.com’s Real Numbers as opposed to the Bogus Official Ones, in order to Maximize Profits from The very Real Ongoing Golden (& Silver) Bull. Full Story
By: Richard (Rick) Mills, Ahead of the herd - 2 September, 2011
It’s a fact in the mining world that most discoveries are made by a) junior mining companies and b) old time individual prospectors. Why are the juniors so successful at making discoveries and finding mines? Well, the good ones are lean mean boots on the ground exploration and development companies run by people who have been out there and know what it takes. They know how to raise money from the suits and they know how to get the story out to the retail investor. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 2 September, 2011
On CNBC today reporter Bob Pisani was shown being put in a van whose windows had been covered, being driven around London for a while, being walked through an unidentified room containing pallets of gold bars, and then being handed a bar whose serial number, ZeroHedge promptly determined, does not appear on the bar list of the inventory claimed by the sponsor of Pisani's mysterious expedition, the exchange-traded fund GLD, which had meant to dispel suspicions about its gold holdings. Full Story
By: Peter Schiff, CEO of Euro Pacific Precious Metals - 2 September, 2011
The markets are going through another sell-off phase, yet the traditional notions of a 'safe haven' are changing. No longer is the US dollar the default shelter; instead, gold, the Swiss franc, and the Japanese yen are the preferred assets. Full Story
It is well established that there is a high correlation between how the price of gold and silver trades. Thanks to this relationship between gold and silver, one is able to use historical trading data of the one good, in order to project what may happen to the price of the other. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 2 September, 2011
Apparently the Irish gold reserves are not entirely secure, since the Central Bank of Ireland has an "investment strategy" for them. Does this "investment strategy" involve some disposition of the gold that helps suppress gold's price, so that certain government currencies might look better? Is this strategy in Ireland's interest, or that of some other country? Whatever this strategy is, why shouldn't the Irish people be allowed to know about it? Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 2 September, 2011
The commentary in The Wall Street Journal, written by David Malpass, a Treasury Department official during the Reagan administration, quotes former Federal Reserve Chairman Paul Volcker as having repeatedly declared gold to be "the enemy," something GATA Chairman Bill Murphy has cited about Volcker from time to time in his daily "Midas" column at LeMetropoleCafe.com. Full Story
Recently, we’ve received a number of emails from readers asking why the primary gold ETF, SPDR Gold Trust (NYSE:GLD), doesn’t more closely track the price of gold, and other related questions. For those readers who aren’t already familiar with the workings of this innovative way to “own gold,” it’s worth going over a few of the details, because there are some common misunderstandings regarding the ETF. Full Story
By: Ira Epstein, The Linn Group - 1 September, 2011
September should prove to be a very important month for gold. The month starts off with President Obama’s “new” game plan for the US economy. Whatever the plan, it will be taken as part of his re-election effort, whether it works or not. If the President can’t get Congress to act, which I don’t think he can, his plan will likely be dead before its announcement. He has little choice but to find a way to pull things together. He looks amateurish getting his speech date getting pushed back today. Full Story
By: David Coffin & Eric Coffin, HRA Advisories - 1 September, 2011
Brinkmanship on one side, bumbling on the other and markets caught in the middle. It’s been a terrible month for markets and an even worse one on the political leadership front. Markets have suffered the worst dive since 2008. The markets direction going forward is very much dependent on traders believing politicians can get ahead of the curve and “deal with” debts issues in the US but especially in Europe. Full Story
By: Jeff Berwick, The Dollar Vigilante - 1 September, 2011
Now with government spending about to cross over and become more of the economy than private spending it will complete the phallic formation. It's only fitting that this chart has drawn out the shape of a penis after all these decades because now, due to all this government involvement in the economy, the US is good and truly f**ked. Full Story
By: Rick Ackerman and John Skerencak - 1 September, 2011
In the guest commentary below, Rick's Picks forum regular John Skerencak (aka 'John Jay') sounds a note of deep despair as we wait for the other shoe to drop, economically speaking. There are no white knights about to ride to the rescue, nor could our corrupt, entrenched political system even implement a good idea if one were up for discussion. The best we can do, says John, is to hope that Japan and Europe flame out before we do. Full Story
The Jackson Hole Conference was a dud. To the astute student observer, something happened never seen before. The US central bank chief admitted failure, if only people could properly interpret and translate his words of helplessness and disappointment. A more apt description was that USFed Chairman Bernanke used the forum to announce on stage that the central bank failed and is powerless to react to the current lapse into recession. Full Story
By: The Gold Report and Rodney Cooper - 31 August, 2011
Rodney Cooper, a senior mining analyst with Dundee Capital Markets in Toronto, has some rather bullish forecasts for iron ore and copper prices. But given the worldwide economic malaise and a slowdown for China's economic powerhouse, what's his rationale? Cooper talks about his predictions in this exclusive interview with The Gold Report. Full Story
By: Bob Chapman, The International Forecaster - 31 August, 2011
The debauching of currencies worldwide goes on with great abandon, and of course, leading the pack in the US, UK and Europe. What these countries and others are doing is awakening the hidden forces of inflation and destroying the value of their currencies. In Europe the Germans, over the past six months, have said at the polls they do not want to continue to subsidize the semi-solvent nations of the euro zone and will not participate in Eurobond offerings. Germans are rightly upset with the value of the euro and the illegal purchase of bonds in the market belonging to Italy and Spain. Full Story
Back in 1958, Leonard E. Read wrote what has become the most popular essay ever written in defense of the free market. It was better than Frederic Bastiat's 1850 essay on a broken window as destructive, not productive. It was as clever as Bastiat's humorous petition of the candlemakers calling for laws against the ruinous competition from the sun. Milton Friedman recommended it highly. Full Story
By: Jeff Berwick, The Dollar Vigilante - 31 August, 2011
I stopped reading fiction books or watching fiction movies a long time ago. I even stopped reading mock-news comedy sites like theonion.com. Why? Because none of them can compare to the insanity of real life. Full Story
By: Rick Ackerman and Robert Moore - 31 August, 2011
In the essay below, Rick’s Picks forum regular Robert Moore explains why a resource so very abundant as silicon could have value, but also why, like so many other physical things, most particularly gold, it is continually increasing in value relative to the U.S. dollar. Full Story
By: Gary Dorsch, Editor, Global Money Trends newsletter - 30 August, 2011
Whenever speaking before a Congressional committee, former Fed chief, “Easy” Al Greenspan was fond of saying, “I guess I should warn you. If I turn out to be particularly clear, you’ve probably misunderstood what I’ve said.” His protégé, Fed chief Ben “Bubbles” Bernanke borrowed the script from his mentor, and speaking in the shadow of the majestic Grand Teton mountains, before a symposium of G-20 central bankers, in Jackson Hole, Wyoming on August 26th, - left most his audience wondering what he meant. Full Story
In just a few weeks the Kress 6-year cycle will peak. What transpires in the financial market in the weeks and months following this important event will be partly determined by the reactive policies of the central bank. But in the longer-term scheme of things, even the Fed is powerless to stop the events that will increase in intensity beginning next year and into the year 2014. Full Story
So ONE-in-THREE Americans think gold is the best long-term investment, according to the Gallup survey published by USA Today last week. Makes you wonder where the other two US citizens have been invested since the turn of the century. Full Story
Jobs report day is this Friday. 8:30am is when the “big news” gets released. How big this news ever really is for gold, I’m not so sure. Regardless, gold can take a hit going into that report, and then blast upwards after it’s released. Full Story
The financial world is awhirl with numerous claims that the Fed telegraphed QE 3 will be coming at its September FOMC meeting. I don’t see this at all. All that Fed did was admit that its September meeting will be two days instead of one so it can have a “fuller discussion” about things. Full Story
I've been warning bears for a couple of weeks that the market was due for an aggressive bear market rally. That rally has clearly begun. I have often referenced the Rubber Band theory in my nightly reports. For those not in the know, the rubber band theory is nothing more than the tendency for any market to regress to the mean. And the further a market is stretched away from the mean the more violent the snap back tends to be once the pressure is released. Full Story
By: Steve Saville, The Speculative Investor - 30 August, 2011
With gold having 'gone parabolic' in the weeks leading up to this week's top, the question arises as to whether or not gold's long-term bull market has ended. After all, upside blow-offs usually occur during the final phases of major rallies. To help answer the question we present, below, a chart of the Dow/Gold ratio courtesy of www.sharelynx.com. This chart shows that the ratio recently fell to near the bottom of its ultra-long-term channel, which indicates that gold is no longer cheap relative to the Dow Industrials Index. Full Story
Gold has roared an assertive “here I am” as a wider group of investors realized the problems in the financial system were worse than they previously thought. It is hard to let go of a concept when you are taught something and believe it for a long period of time. This is especially hard when your model fits the world nicely over this time span. I have not written this article to be condescending I sincerely understand how hard it is to let go of a newly broken concept that has worked in the past. I believe this is the hurdle that is gradually breaking down and changing sentiment in the precious metals sector. Gold stocks are now freshly coiled and raring to go up. Full Story
By: Rick Ackerman and Tom McCafferty - 30 August, 2011
Our longtime friend Tom McCafferty, a veteran commodity trader and author of numerous books on the subject, knows a thing or two about making hay when stocks and commodities turn volatile. In the essay below, he explains why the markets have been so nervous lately. Fortunately, in the violent swings that have been occurring from day to day and week to week, he sees the trading opportunities of a lifetime. Full Story
By: The Gold Report and John McClintock - 29 August, 2011
With the price of gold soaring to over $1,900 an ounce and investors abandoning equities for commodities, John McClintock, equity research analyst at Mackie Research Capital, sees gold mining companies benefitting from this flight from risk. In this exclusive interview with The Gold Report, McClintock talks about the risk trade. Full Story
How long will we suffer inflation (and then hyperinflation) until we agree to cede political power to anyone who will fix the problem by emasculating the bankers and re-establishing a gold standard for the people? Who will we willingly surrender the republic to in exchange for a promise to end the banker’s fractional reserve currency chaos? Rest assured that the bankers will not go quietly into the night. Power is never surrendered without a fight. When it comes to greed and power I am reminded of King Solomon who said there is nothing new under the sun, human nature never changes. A fight of epic proportions is coming. As Marc Faber says, “opt out of the fractional reserve system, buy gold and become your own central banker”. Full Story
In recent commentaries we’ve discussed the relative strength of the gold stocks and in particular the relative strength of the large miners. This relative strength comes at a time when the sector is nearing a potentially historic breakout. We’ve written about this breakout before but now the gold shares are closing in and it could only be a matter of days. GDX, our proxy for large-caps is now, after almost a year of trading in a tight range, only 3-4% away from new all-time high territory. Meanwhile, ZJG, the Canadian junior gold ETF, though lagging behind, is in great position to follow GDX to new highs. Full Story
Although we waxed skeptical here the other day about Warren Buffett’s just-announced $5 billion stake in Bank of America, we allowed for the possibility that the deal will provide a handsome payoff to him no matter what happens to the bank. B of A could implode, after all, a victim of sinking collateral values for its mortgage loans, and of litigation over its securitized-lending business. Full Story
Headline news & the Market Weatherman Report. Spotlight Stock Picks. Host Chris Waltzek & Bob Chapman, The International Forecaster discussion and answer listener's questions. GUEST BIOS: Charles Goyette, The Dollar Meltdown John Williams, Shadowstats.com Full Story
Goldwatchers were reminded gold’s volatility works in both directions this week, with prices falling more than $100 an ounce in just one day. We forecasted the selloff last week, explaining a 10 percent correction would be a non-event. Once again the CME Group hiked the exchange’s margin requirements for gold investment to shake out overleveraged speculation. This is a positive for long-term investors. Full Story
It should be obvious to everyone but the most dedicated adherent of Keynesianism that the stimulus did not accomplish its end. The combination of outright spending by Congress, the desperate schemes to reflate the housing market, the attempt to transfuse bleeding firms with other people’s money, and the creation of trillions in artificial money, has not done a thing to lift the US economy. Full Story
After becoming monstrously overbought, gold suffered a heavy smackdown early last week as predicted in last week's update. It plunged back into support at the neckline of a potential Head-and-Shoulders top that we had delineated and then bounced strongly - so strongly that it calls into question the validity of this pattern. This action is shown in detail on the 2-month chart below. If the H & S pattern is negated by the price continuing to advance towards the highs again it does not mean that gold is not marking out an intermediate top or at least a consolidation, however, as it could morph into some other pattern like a Rectangle. Full Story
By: John Mauldin, Millennium Wave Advisors - 28 August, 2011
It’s not really the end of the world, but to read some of the analysis and data over the past week, it’s hard not to wonder if it’s not the beginning of the Endgame at the very least. There is more to cover than I can really do justice to, but we will just start. We HAVE to look at the US data first (briefly) and then on to Europe, where it will may be the end of the euro experiment, depending on two voting populations. Can you spell “Banking Crisis,” gentle reader? Full Story
By: Bob Chapman, The International Forecaster - 28 August, 2011
It has been almost three years since the Federal Reserve took its interest rates to 1% and most recently to zero. This allows member banks to borrow money at no cost. The Fed lends to large banks with little or no control, so that these banks, some of which are owners of the Fed, can really do as they please. The Fed even lends at zero and re-borrows from these banks at a higher level, guaranteeing the banks a riskless profit. Those profits would have gone to the US Treasury and the American taxpayer. These profits for the most part are the result of the creation of money and credit by the Fed. The banks are so overjoyed regarding the results that the Fed has told them that it will keep the current policy for at least the next two years. Full Story
The problem is not China. It is not India. It is not imports. The problem is the endless call from each special-interest group for the government to Do Something to Save America. The problem is that the government has done way to much for too long, all in the name of Doing Something to Save America. Full Story
By: Jeff Berwick, The Dollar Vigilante - 28 August, 2011
Jeff Knaebel knew that there is no way to be 100% free on this planet anymore... but we continue to seek out ways to limit government control and theft on our self and our wealth. At this point declaring your own personal declaration of independence is the only rational thing you can do for yourself and your family. Full Story
Investors in the gold sector will be familiar with the junior gold or exploration companies. These generally micro-cap companies own the gold mines of the future, or at least they hope to do as they own the rights to look for gold on land thought to have gold underneath it. Full Story
It was another week of watching and sitting for the swing trading portfolio. We still haven’t put on a swing trade lately but we’ve been watching our dividend stocks and mining portfolio and I’m thinking about adding a few new miners to our stable in the next few weeks. Full Story
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