Artificial intelligence (AI) is seen as both a boon and a threat. It uses our personal data to influence our lives without us realising it. It is used by social media to draw our attention to things we are interested in buying, and by our tablets and computers to predict what we want to type (good). It facilitates targeting of voters to influence elections (bad, particularly if your side loses). Full Story
It is my privilege now to welcome in Greg Weldon, CEO and President of Weldon Financial. Greg has over three decades of market research and trading experiencing, specializing in the metals and commodity markets and even authored a book in 2006 titled, Gold Trading Boot Camp where he accurately predicted the implosion of the U.S. credit market and urged people to buy gold when it was only $550 an ounce. He's a highly sought-after presenter at financial conferences throughout the country and is a regular guest on many popular financial shows, and it's great to have him back here on the Money Metals Podcast. Full Story
In interviews, whenever I try to make the case that US policies are leading to the kinds of currency disruptions common in developing countries, I say something like, “For a glimpse of America’s future, take a look at Argentina, where they’re eating cats and dogs because of hyperinflation … wait, no, I meant Venezuela.” Full Story
Today’s letter will be a little different. First, I want to relate some of the conversations I’ve had over the last week in my travels—a little glimpse into the life of John. Then I’m going to reproduce some recent letters from readers, with some mea culpas and comments from me. I literally get dozens and sometimes hundreds of interesting letters each week. They make me think and I read as many as I can. I think you’ll enjoy them. Full Story
Gold was enjoying a solid spring rally until a couple weeks ago, nearing major upside breakouts. But its nice advance has crumbled since, really weighing on sentiment. Gold fell victim to a rare major short squeeze in US Dollar Index futures. The surging USDX motivated gold-futures speculators to flee rather aggressively. But this will likely prove a short-lived anomaly, after which gold’s assault on highs will recommence. Full Story
Peter Kendall, coeditor of The Elliott Wave Financial Forecast makes his show debut. Current Elliott Wave analysis suggests that the US shares indexes are registering ominous signals. Whereas hard assets such as the precious metals have swung so far out of favor relative to paper assets (stocks/bonds), a multi-year uptrend may be commencing (Figure 1.1.). Full Story
The bottom line is that the macro is shifting now but speaking personally and for NFTRH analysis, we are only managing a bounce to the next technical objective in the gold sector at this time. But when the macro indicators engage more fully we will prepare for a lock-and-load buy. That time is not here yet as we consolidate the 2016 up surge. Full Story
GATA consultant Robert Lambourne, our expert on the Bank for International Settlements, noted this week that the BIS is late in posting its monthly statement of account for March, which typically contains obscure data about the bank's largely surreptitious interventions in the gold market on behalf of its client central banks. Full Story
Ryan Wilday is our newest analyst. When we found him, he had already been trading over two decades for a supplemental income, but without the Elliott Wave Theory. He was a quick study in the theory and soon was producing professionally accurate wave counts, according to our method- Fibonacci Pinball. Ryan was also an early adopter of cryptocurrency and trading the new asset class. Full Story
Another month passes and another hundred thousand ounces (3.11 tons) of physical gold get added to the Kazakhstan gold reserve vault. Each month this nation makes another deposit of physical gold and each month the vast majority of media completely ignores it. Not only has she been adding physical gold to her gold reserves for the past 66 straight months the last two years have seen an increase in the overall volume of gold added. Full Story
Thanks to the Fed and Central bank intervention, sales of Gold and Silver Eagle sales declined sharply over the past year. Yes, it’s true… precious metals investors have lost interest in gold and silver as the stocks, real estate, and crypto markets reached new highs in 2017. So, who wants to continue purchasing gold and silver when many cryptocurrencies were experiencing 10% increases in a day. Full Story
The Global Currency RESET has 100 steps and the first 10-12 appear complete. This is not a fantasy, but very real and in progress. Its progress is not very visible to most observers. Some important steps are seeing tremendous progress, but they are executed in the East with very little press coverage by the insidious lapdog Western press networks. Review many of the RESET features, but in summary form. These are covered steadily in the Hat Trick Letter reports. Full Story
The price of gold has been feeling the pressure lately from a stronger U.S. dollar, which is at a four-month high, and rising Treasury yields. Nevertheless, the yellow metal eked out a positive March quarter, returning close to 1.3 percent, while the SPX 500 Index posted its first negative quarter since 2015. This tells me the investment case in gold and gold mining stocks remains as strong as ever. Full Story
Wolf Richter, founder of WolfStreet.com returns to the show with cautionary comments on the US financial sector. Unlike many Wall Street bears, Wolf Richter does not expect the markets to implode, but instead, following a decade of record growth, stocks / bonds could under perform expectations. Full Story
Since roughly the middle of January of this year we’ve seen some big changes in character taking place in many different areas of the markets. After nearly two years of low volatility, which is much easier to take, volatility has come back with a vengeance and doesn’t seem to be slowing down much. Its been most obvious in the stock markets, but now the US dollar’s volatility has spiked which may be suggesting something is in the wind. What that something is can be anyone’s guess, but something changed in mid January of this year. Full Story
It’s not hard to see that each bounce up has become weaker than the bounce before. What happens when the collapsing ceiling and the floor meet? If the market breaks through that floor, typically the floor collapses. From there, it now has a long way to fall without any obvious support. In my view, its a fall that eventually leads back to the bottom of the Great Recession and maybe even further. Full Story
For me, the greatest asset my dog Fido, a German Rottweiler and French Poodle mix, is his uncanny ability to sense when the gold and silver markets are going to turn. Whenever gold runs into its generally accepted waves of interventionalist price "management" (otherwise known as "manipulation") by the unregulated and under-sanctioned bullion banks, Fido has usually retreated to the safety of the crawl space beneath my tool shed. Full Story
Apparently there’s gold in them there trash cans!! At least in South Korea. It seems a janitor was doing his daily routing when he lifted an unusually heavy bin of refuse. Upon further investigation, the janitor who wishes to remain anonymous ( can’t blame him!! ), found 7 kilo bars of gold worth $325,000. Full Story
So how has gold performed in this financial virtual reality? The short answer is surprising well. The seven charts below provide a picture of its performance over the past few years as computer-based systems have taken on an increasingly important role in the pricing of assets. They also offer an inkling how gold might perform in the future should the holodeck suddenly shut down and substance once again trump perception. Full Story
I have tried to explain this concept many times before but never had a chart to do it with. Please note the start date of the chart is 1971, this is not by any coincidence as that was the year the U.S. dollar became fully fiat and backed by nothing but "faith". Before getting started, it is important to understand what August 15, 1971 really meant and why Nixon took us off the gold standard. The obvious is because with France and other nations demanding conversion of dollars into our gold, it would have only been a few short years before our stockpile was completely depleted. Full Story
As part of Merk's in-house research we regularly evaluate a consistent set of charts covering the economy, equities, fixed income, commodities and currencies. The aim is to keep our eyes open and to look through the noise of the headlines, avoiding the distractions of sensationalized click-bait. In sharing this content, we offer a cross-check to your own thinking and aim to add value to your own process. Full Story
As some of you may know me by now, I run a trading room with over 3500 traders, have over 450 money manager clients, have over 23,000 followers on Seeking Alpha, and have the 6th largest service out of the 169 that are offered in the Seeking Alpha Marketplace (even though I am a technical analyst on that fundamental analysis web site). I have certainly come a long way since I first opened the doors to my trading room a little over 6 years ago. Full Story
It appears we are seeing another sign of the frequency shift. Over the past few weeks we have been speaking more about this shift in terms of spirituality and and community, but today we see it manifesting in a whole other area. Full Story
Donald Trump’s enmity towards Amazon and its founder Jeff Bezos, the richest man on Earth, has indeed been going on for a long time, and it’s easy to frame the tiff as two billionaires marking their territory like two pit bulls in a fight ring. After all, Trump is a billionaire capitalist too, and it’s not as though he hasn’t done his fair share of tax dodging. Full Story
One dealer bankrupted in 2016 with two of its directors indicted in April 2018 on fraud charges. The other dealer still gets over from its 1980’s branding yielding high volumes of google searches, and thus possibly churning and burning new novice customers every day. Allegations of fraud total $362.5 million USD in lost customer and vendor funds combined. Full Story
I'm quite new to the cryptocurrency analyst scene. While I've been trading over two decades, it was always a supplemental income. That started to change in August 2017 when Avi Gilburt brought me on staff at Elliott Wave Trader to lead cryptocurrency analysis. In my opinion, I sit as the latest analyst to join the world's leading team of Ellioticians, applying the art to nearly all exchange traded classes- and now cryptos. Full Story
If you’re running a business and the price of one thing goes up, you can work around it by economizing elsewhere. But when everything – wages, rent, supplies, taxes – goes up simultaneously, you have a problem that can be solved one of only two ways: Raise prices or close up shop. That’s the dilemma apparently facing restaurants pretty much everywhere. Full Story
Taiga owns 5 projects targeting gold in the area near the Seabee Gold Operation, owned and operated by SSR Mining Inc., formerly Silver Standard Resources Inc. and along the Tabbernor Fault structure in eastern Saskatchewan, a highly-prospective mining jurisdiction which was recently recognized by the Fraser Institute as the second best place in the world in terms of Investment Attractiveness. Full Story
The precious metals sector is on a long-term buy signal. Short term is on mixed signals. The cycle is up. COT data is supportive for overall higher metal prices. We are holding gold-related ETFs for long-term gain. Full Story
To start off, I find it astounding that of all the ways that dictionaries might cite the usage of the word "shenanigans," they elected to discuss it in its context to the financial industry and how shenanigans have "ruined the fortunes of many." To wit, as we move into the month of May, we are entering the six-month period during which stock prices have historically faltered, setting up the old saw that one should "sell in May and go away." Full Story
For data wonks like me, the annual Yearbooks from various gold and silver consultancies make for fun reading. You can always find little gems about what’s going on in the markets, and sometimes you can spot changes in trends early on. Seeing a compelling chart, especially one that’s not been widely reported, is almost as exciting as seeing my wife in a short skirt on date night. Full Story
This clip is taken from an interview Mike Maloney conducted with Trace Mayer for the eighth episode of his Hidden Secrets of Money series. It is still one of Mike's all-time favorite quotes on the importance of Bitcoin, but due to time constraints, it was not included in the final edit for the episode. Watch the full video here. Full Story
Some Fed speakers have talked about the potential for the central bank to become more aggressive, given the inflationary implication of tax cuts coming at this late stage of the business cycle. If Powell himself makes any such statement this week it could create an institutional investor panic. That would likely send the Dow tumbling under my line in the sand zone. Full Story
Sovereign debt will be “rolled over,” never extinguished, and repaid with new debt. We delude ourselves and pretend total debt will increase forever (it can’t). That explains global debt exceeding $230 trillion today and official U.S. government debt over $21 trillion, with unfunded liabilities adding another $100 – $200 trillion. There are two choices. Full Story
Thank you to all Macro Analytics/Gordon T Long YouTube followers. I will continue to add the following message to each video, which many have already seen to help all of those that haven’t learned of the new update. Thank you again for your support! Full Story
Bitcoin is back in the news in a big way. The world’s largest cryptocurrency neared $10,000 last week, meeting strong 200-day moving average resistance of around $9,800. Also last week, the 17 millionth bitcoin was mined. Remember, the crypto was originally designed to have a limited supply of “only” 21 million, an attractive feature that should continue to burnish its value as we get ever closer to that ceiling. Full Story
The bottom line is that the LBMA has recently released the new edition of “Alchemist”. As always, it includes several interesting articles. The three most important take-home messages are as follows. First, silver seems to be undervalued relative to gold. Second, gold shares can provide some leverage relative to bullion prices, but the growth potential of mining companies is limited due to the focus on cash flow and reduction in capital spending. Third, low interest rates could be more permanent than we thought, as Asian economies have a different propensity to save. It should be positive for gold, which does not like high yields. Stay tuned! Full Story
Gold and silver have risen substantially off the price bottom put in just 2-˝ years ago, but the gains have yet to attract much notice. Gold has gained roughly 28% and silver is up 20%. Meanwhile, another metal has more than doubled since bottoming. This performance should have been more than enough to catch the attention of metals investors, if only they were watching. The metal is palladium and, for those who haven’t paid much attention, it is time for a brief update. Full Story
We have done a lot of work delineating what the best investment environment would be for gold and especially the gold mining sector. The gold miners leverage (for better or worse) gold’s performance vs. cyclical items like stocks, commodities and materials. Gold vs. stocks is a macro fundamental indicator on investor confidence, or lack thereof. Gold vs. Energy and Materials are gold sector fundamentals directly informing a gold mining company’s bottom line performance (their product vs. mining cost inputs). Full Story
The best performing metal this week was gold, down 0.92 percent. This week was fairly negative for gold as the dollar held strong and the 10-year Treasury yield reached its highest since 2014 to 3 percent. A new use of blockchain technology will allow jewelers to track diamonds and gold from where they were mined to where they will be sold in retail. Full Story
A reader asked us this week about the personal savings rate. Most people can sense that something is wrong if the rate is in a long-term falling trend, or if it falls too low (whatever level that may be). We argue that falling savings is part of the larger process of capital destruction. And unfortunately, one should expect falling savings rates when there is falling yield purchasing power. Full Story
As each day goes by, it offers me another opportunity to chuckle when I see so many attempts by pundits to try to explain what latest news events cause each whipsaw. And when they try to fit their square pegs into round holes, or, when they don’t have any pegs at all when there is no news to even attempt to explain a move, it just makes me wonder when these market participants will finally open their eyes as to how the market really works. Full Story
The USD Index reversed in a quite clear way on Friday and gold rallied. It looked like a great bullish combination for the precious metals sector, but was it really one? Gold moved higher on volume that was the lowest since the beginning of the year and this means that Friday’s rally shouldn’t be taken at its face value, but instead it should be closely inspected. Moreover, silver just did what was previously followed by big and volatile price moves in all recent cases. What can we really infer from it? Full Story
Just when you thought it was safe to go back into the market, along comes something to smack you in the chops. The markets topped back on April 17, 2018, then started what appeared to be a slow decline. After that came April 24, 2018, when the Dow Jones Industrials (DJI) fell over 500 points before recovering into the close. In one fell swoop volatility was back again. The triggers were the threat of a trade war with the EU, the U.S. 10-year Treasury note hitting 3%, and Trump’s threats against Iran of tearing up the nuclear agreement. Full Story
Gundlach’s comment was included in every piece of Gold literature that recently crossed my desk. No doubt, if Gold starts breaking to the upside, Gundlach’s quote will be used by aggressive marketers and publishers. But I digress. According to ZeroHedge, Gundlach said that based on classic chart reading, there is an “explosive, potential energy” of a huge “head and shoulders bottom” base, signaling a move of $1000/oz. Full Story
When it comes to what happens during the next major market correction-crash, we can count on that “this time will be different” for the gold and silver prices. While many precious metals investors believe that gold and silver will crash along with the broader markets, the charts and data suggest the opposite. Full Story
Economists have been struggling to explain how unemployment can fall to 4% without wages starting to accelerate. The following chart shows paychecks rising at about the rate of inflation over the past five years, which means the average worker’s earnings don’t buy much more now than in 2013. Full Story
Part I. with Bix Weir of RoadtoRoot-A continues the ongoing investigation into the intriguing crypto-phenomenon, which may be the early adopter stage of a ubiquitous revolution. Chris Powell of GATA.org returns from a speaking tour in Hong Kong and Singapore including CNBC and Bullion Star, with intriguing research on the Bank of International Settlements (BIS). Full Story
As for today, with very few exceptions the explorcos aren't going to flourish as a group until either the underlying commodity price explodes higher (as did zinc and cobalt last year) or until there is a new BIG discovery where the junior moves tenfold resulting in a mass migration of crypto or battery metal players into the PM space in a quest to get a piece of the discovery "action." The names I cover in this commentary are all involved with exploration projects in "elephant country" locales with Mexico and Nevada certainly host to some major deposits and where both states rank in the top percentile for silver production. In fact, Mexico is second to Peru in global silver production and remains a favourable exploration site. Full Story
Gold continues to build towards a breakout from a major base pattern, a giant Head-and-Shoulders bottom that we can see to advantage on its latest 10-year chart below. At present it is battling the headwinds of a dollar rally, but a dollar rally won’t stop it, because when we talk about a dollar rally, we mean against other fiat, and all fiat is in the latest stages of a journey to oblivion, which actually started way back in 1913 with the Federal Reserve, and started to enter the terminal blowoff phase as long ago as 1971 with Nixon’s elimination of the gold standard. Full Story
Getting a fever is no fun. You likely get chills, you sweat, and you’re just generally uncomfortable. You get tired easily and need to rest. But here’s the weird part: Fever isn’t the real problem. It’s a symptom of something else. You must treat whatever that is to relieve the fever. Full Story
The U.S. dollar has been on the rise in April – could it be breaking out? Mike Matousek, head trader at U.S. Global Investors, explains the dollar’s recent positive price action and how investors might participate. He also explains how the dollar and gold have historically had an inverse relationship, with one generally rising when the other slumps. Full Story
It’s easy to dismiss seasonality in the price of a tradable asset. After all, if supply and demand fluctuate regularly you’d think the resulting arbitrage would attract enough traders to smooth out prices. But that’s apparently not the case with gold and silver. Here’s an analysis from Casey Research on the subject with a couple of highly revealing charts. 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
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