I wanted to start off by asking you about the presidential election which has been a free-for-all since the beginning. One headline in the past week has been about a recent poll that revealed a full 70% of Democrats think that Hillary should still run if she is federally indicted. On the other hand, a prominent Democrat pollster said this week that Hillary could lose California's primary on Tuesday and that, if she does, Sanders can actually win the Democratic nomination. Who do you think will be the Democrat nominee? Full Story
Bill Murphy from GATA.org returns to the show with his latest insights on the PMs sector. He notes that market dynamics have changed. For instance, gold prices are off to their best start in a decade, while the value of more than 10 major mining companies have doubled. In the first quarter, about 1,100 fund managers including billionaire George Soros bought more than 78 million shares of Barrick Gold Corp., the world’s biggest producer. Full Story
By: Steve St. Angelo, SRSrocco Report - 3 June, 2016
The reason I believe the markets have been manipulated is because Wall Street and the U.S. government have bamboozled Americans as well other governments across the world by funneling their citizens money or funds into paper assets since the 1980’s. This is where the majority of manipulation has taken place. Full Story
All the commentary one hears from the media and financial institutions is based on the fallacy that fiat currencies, led by the dollar as reserve currency, are the ultimate measure for all prices. This explains the commonplace error of regarding gold as an investment asset instead of money. It is a mistake reinforced by central bank and commercial bank attitudes, desperate to protect their seigniorage for base money and bank credit respectively, as well as their profitable casino businesses. But measured by relative performance as competing forms of money, not only is the dollar already demonstrably overvalued when priced in gold, but there is a growing inevitability of a further, substantial decline over the rest of the year. Full Story
Today’s market action has neutralized the uptrend on the Daily Chart. I now think the market is in a consolidation phase as it trades on either side of the 18-Day Moving Average of Closes, the red line with a value of 1235.7 on this chart. I’ve labeled the current trading range as I see it. It has a low of 1207.7 and a high of 1287.8 in this contract. If I’m right, it won’t have a lot of downside and most likely won’t get under the most recent low of 1207.7. Full Story
China’s decision to devalue on the Yuan clearly illustrates that the “devalue or die” program is being embraced worldwide. Nations will continue to devalue their currencies in a bid to stay competitive; the global economy is weak and only hot money is creating the illusion that all is well. Mass psychology indicates that the masses love to be told a sweet lie as opposed to the blunt truth. In that sense, they will get what they secretly desire, a market that looks magnificent from the outside but is rotten to the core from the inside. Full Story
Do you think the Gold Bull Market has returned? Obviously I do, and have been trading as if the Gold Bull Market has returned. You need to be aware of this opportunity and appreciate that another big move in this Gold Bull Market is again developing. If this next move is anything like the moves seen during past Gold Bull Market’s, then you will not want to miss the next buying entry after this current correction winds down. Full Story
"This realignment is the logical evolution in the development of our business and culminates one year of planning and positioning to bring together GoldMoney and BitGold," said Roy Sebag, CEO of Goldmoney Inc. "A new brand identity is a fundamental step that reflects the increasing unification of our global operations. As part of this transition, we've created a unique look for Goldmoney.com, which will be unveiled later this year." Full Story
After studying the silver market closely for more than three decades, I find it nearly unbelievable that its single most important price factor is widely unknown. Admittedly, the vast majority of the investment world has little interest in silver and that’s unlikely to change any time soon. But underappreciation has its merits in the investment world. After all, silver does have a history of climbing in price higher and faster than just about any other asset and a multitude of factors now point to another massive price move higher ahead. Full Story
Well, your time has come! Gold is in the process of testing the February breakout at a very important moving average. Whenever the market tests a breakout, it affords those who missed the breakout an opportunity to get onboard, and it enables those who helped to create the breakout, an opportunity to double up. Full Story
The reason for bringing this up isn’t to brag about getting something right; it’s to point out that gold now appears to be stuck in a similar situation to the one we described on 4th November. As was the case back then, to ignite the next tradable gold rally it appears that the Fed will have to stop vacillating. Either the Fed will have to take its second step along the rate-hiking path or the economic/stock-market situation will have to become bad enough that all thoughts of a 2016 rate hike are wiped out. Full Story
As a newsletter writer who keeps an eye on the long term prospects for silver, there are a few indicators I follow which have proven reliable over the years past. When each indicator issues a buy signal in succession, the probability of a long term silver bull market increases and so does my confidence as a precious metals investor. Full Story
Global investors snapped up a record 89.6 million one ounce silver coins in 2015, according to USAGOLD’s annual survey of global bullion coin sales. The strong 2015 showing follows an equally impressive 2014 for silver coins at 77.9 million ounces and 2013 at 85.4 million ounces. Year over year, silver bullion coin demand was up 14% from 2014. Full Story
David Morgan a.k.a. "The Silver Investor" from the Morgan Report gives a detailed overview of current silver market conditions. Our guest adds must hear information to the Silver Majestic story, where the CEO was contacted by a large electronics manufacturer seeking silver supply. The PMs bottom could be in place, due in part to a slow motion global economic implosion. Full Story
The good news as we move forward is that the Cretins have gorged themselves pretty good the past eight sessions as open interest has shrunk rapidly, indicating the crystallization of profits by the bullion banks and losses by everybody else. The Cyborgs controlling the gold market will probably be close to taking their heels off the throats of gold and silver by mid-next-week and after we get the Bureau of Labour Statistics number on Friday. Full Story
Bill Murphy from GATA.org returns to the show with his latest insights on the PMs sector. Gold is off to the best start in a decade, while more than 10 major mining companies have doubled in value. In the first quarter, about 1,100 fund managers including billionaire George Soros bought more than 78 million shares of Barrick Gold Corp (ABX). Full Story
While the correction in the GDX has taken a month, the one in the GLD has been continuing now for 3 months. The technical top to the market was seen in early March, and, as noted earlier, the higher high seen in May was actually the top of the counter-trend corrective leg. This chart supports our perspective that the next impulsive rally may very well be setting us up for a major break out, which can take the GLD to the 157-170 region before its next multi-month consolidation. Full Story
With one session left in the month, the US Dollar (USD) bounced off the lower trading range of this over a year-long consolidation with an outside reversal monthly candlestick, which suggests that the correction is complete and more strength ahead in coming months. A rising dollar is not friendly to the metals. Full Story
Last week, President Barack Obama was in Vietnam and Japan drumming up additional support for the Trans-Pacific Partnership (TPP), and meanwhile I was in the U.K., where Brexit drama is dominating headlines and airwaves. Only a month remains before voters decide whether the country will stay in or leave the European Union. As I said before, an exit could trigger a currency crisis with both the euro and pound, in which case owning gold might be a good idea. Full Story
The corporate bond market is a $6 trillion time bomb waiting to go off. It took the US half a century to grow its corporate bond market to $3 trillion. Thanks to the Fed implementing ZIRP and holding rates there for seven years, we’ve doubled the corporate bond market, adding another $3 trillion in corporate debt… since 2009. Full Story
This bares watching very closely. COMEX looks to be nearly 50 tons short of what needs to be delivered. Can they entice "eligible" (stored customer) gold to move and serve delivery? We will know shortly! I might add on a separate topic, OPEC has a meeting this Thursday. We have speculated Saudi Arabia would at some point announce they will accept yuan for oil settlement. What would an announcement such as this do to a lopsided delivery for COMEX gold? Full Story
Some steps that an investor might take: diversify savings across banks and even countries; look carefully at the health of your bank or financial institution; own assets outright and reduce or avoid risk to custodians and trustees; avoid investments where there is significant counterparty risk, such as exchange-traded funds (ETFs) or structured products; avoid banks with large derivative or mortgage books; and be aware of your bank’s or financial institution’s credit. Finally, it would be wise to own physical gold in fully allocated accounts where you are the owner. Gold, unlike banks, has no liability. Full Story
Investors who may have recently become somewhat obsessed with calling a gold price correction may want to consider throwing a bit of caution to the wind. This is a time for investors to position themselves for the next wave higher, and for gold stocks, that wave may just begin on Friday morning! Full Story
What if we exit the “reality distortion field” created by central banker obfuscation, political disinformation, television programming, and media distractions? What if we ignored the latest Kardashian scandal, transgender bathroom controversy, and red carpet fashions, and instead we examined the reality behind each of the above questions? Full Story
Wouldn’t it be nice if precious metals go sideways and consolidate this month – giving us our positive Fibonacci monthly count set-up. That wasn’t a question – it was a statement. Such an outcome is looking increasingly possible (but not probable) as the dollar($) corrects higher, keeping the shorts in precious metals placated. Because if we don’t get this, which, as you will see below is likely based on several important technical signals, the metals might need to go to sleep for several months, and the correction will be more severe. Because that’s what happens post record-breaking moves – it’s the nature of the beast. Full Story
This week the World Gold Council reported that in the first quarter of 2016 global demand for gold was 1,290 tons – the highest ever for a first quarter – as investors seek safe haven investments in a time of economic fragility and uncertainty caused by negative interest rates, reports China Daily. The article continues by pointing out that buying U.S. Treasuries or other sovereign debt from Western countries has also become a “less attractive option for central banks because of their low yields.” Full Story
The voice of complacency says no pullback in gold. Anyone who took profits will not get a chance to reenter. Here is the chart. Clearly this analyst was expecting gold to soon take out the 2014 high. It’s forming a bull flag and cup and handle patterns in preparation for the rocket launch right? Full Story
I have always liked to explore mines. My grandfather was a mule driver in the zinc mines of Aurora, Missouri. One of my prize boyhood memories was going with my dad during the dead of winter to those old mines. Carefully avoiding the water-filled sinkholes formed by collapse of old workings, we would venture onto the waste dumps (called “chat piles”), and dig maple saplings for transplant to our orchard 20 km away. Some of those trees still provide cool shade at the old homestead. Full Story
Since early February I have visually described my position and mental framework in the precious metals market as being “Cool as a Cucumber”. This has served me well as it has allowed me to stay invested as the move powered higher and many bailed to the sidelines expecting an early correction. Well now that we are into the first significant pullback lets see how Mr. Cucumber is doing and some of the market factors he is considering. Is he keeping his cool? Full Story
As GATA is not an investment adviser but a civil rights and educational organization, it doesn't presume to tell people how to invest, though if they are going to invest in gold, of course GATA would prefer, for the sake of the free and transparent markets we pursue, that they purchase real metal and not imaginary metal, not mere claims against financial institutions that, at the behest of governments, are doing their best to control the metal's price by creating imaginary supply. Full Story
The plain and simple fact is that the Semiconductor Equipment sector is firming, with the April Book-to-Bill (b2b) joining Applied Materials’ quarterly report noted in NFTRH 396’s opening segment as another bullish [economic] indicator. Semi Equipment was a leader to the general Semi sector in early 2013, which in turn led the economy and job creation. Our fundamental gold view improved in January 2016 as gold launched upward vs. global stock markets, joining its positive status vs. commodities. Full Story
Head of the Trends Research Institute, Gerald Celente outlines the bullish case for gold - the yellow metal is up 15%+ in 2016. According to the Trends Research Institute, gold is destined to cross $1,400 on the way to $2,000 an ounce. Chris welcomes Bob Hoye, senior investment strategist at Institutional Advisors who makes investing entertaining. His research indicates the 100 year fiat monetary experiment has failed, which could culminate in an epic economic earthquake. Full Story
One of the biggest buzz-terms of the falsetto, faux recovery has been ‘escape velocity’. If there are any NASA engineers left, they can correct me, but I believe the term was used in physics or perhaps rocket science to describe the velocity an object must reach to break the hold of the Earth’s gravity. And you think Economics has some formulas? I’d LOVE to see the one for the real escape velocity. Full Story
This is disturbing on a lot of levels, but it’s also quite conceivable. When governments figure out that in a world of deflation (caused by the industrial overcapacity and bad debt from their previous policy mistakes) they really can borrow and spend whatever they want — and if it causes inflation, well, great, they win the currency war — then the floodgates will open. Japan, as it has with past monetary and fiscal insanities, is leading the way. And if history is any guide the rest of us will follow along shortly. Full Story
"Gold," Plender writes, "has been a bubble for millennia." Some bubble! Don't millennia compare pretty well with the individual human lifespan? For how many millennia are Plender and the Financial Times planning to keep disparaging the monetary metal? Repeating the appalling rookie mistake Rogoff himself made, Plender writes that gold "yields no dividends or interest," though central banks and others lend gold at interest every day just as government currencies are lent at interest. Full Story
The larger the consolidation the bigger the bull move will be once a breakout occurs. Considering gold’s 29 year consolidation phase I don’t think it’s unreasonable to expect gold to go to a minimum of $10,000 before this bull is done. Full Story
At the conclusion of my conference yesterday, I did a number of interviews and then made my way a few miles home, collapsed into my favorite chair, and thought back over the myriad of ideas, the whirlwind of friends, and the just general all-around fabulous time I had experienced over the past four days. Full Story
"Firstly," Manly writes, "LPMCL keeps the entire pyramid of London's unallocated precious metals trades spinning. By not reporting any trade information, the London Bullion Market Association and LPMCL keep the entire gold world in the dark about the extent of the London paper gold trading scheme. Full Story
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