$1300 an ounce is what I had termed a milestone number in my last report. Prices have advanced another $66 an ounce since then and yes, there’s been a $40 decline off that high. However it hasn’t been easy for prices to break and stay down, which is a characteristic of a bull market. Full Story
By: The Gold Report and John Kaiser - 8 October, 2010
Kaiser Bottom-Fish Report Writer John Kaiser sees the gold price reaching well into thousands—one of a series of events that, ultimately, could result in the kind of area-play fever not witnessed on the junior board since the mid-1990s. Full Story
We've got it easy right now. Click or call, and you can quickly and conveniently own a gold coin or bar. But if global concerns cause another panic or the dollar breaks down, you could find yourself standing in a line at the local coin shop or getting a busy signal. Simply, for reasons I’ll discuss here, you may find it very difficult to get your hands on physical gold when that time comes. Full Story
By: Peter Schiff, Euro Pacific Capital, Inc. - 8 October, 2010
Since the US economy has failed to recover as widely predicted, pressure on the Federal Reserve to conjure a solution has increased. In fact, the Fed now faces the hardest choices in its history. It can either redouble its past efforts to re-inflate America's bubble economy (risking the destruction of the US dollar) or it can stop pumping and let the economy deflate to a self-sustaining level. Unfortunately, both choices guarantee severe economic pain - but only one offers the possibility of ultimate success. Full Story
YOU MIGHT know this chart already. If not, expect to see more of it soon. It shows gold priced in Dollars per ounce across what the TV anchors would call the "very" long term... Full Story
By: Adam Hamilton, Zeal Intelligence LLC - 8 October, 2010
Inspired by gold’s relentless momentum, investors drove the flagship HUI gold-stock index to new all-time highs this week. While great fun for all of us with capital deployed in this sector, seeing the best levels in history often spawns anxiety in those with a contrarian bent. Following gold stocks’ run into record territory, are they in danger of an imminent correction? Full Story
As was generally expected, this morning’s employment situation report gave another bundle of evidence to suggest that there is in fact no recovery, never was, and that several trillion dollars of ‘stimulus’ has disappeared down a rat hole of greed. Full Story
Note that this semi-Covert Fed Equities Market Juicing via POMOS, when coupled with the Public Juicing, constitutes a Massive (e.g. $20+ Billion in one week!) Quantitative Easing. Summers is right. The Ultimate Result of all this Artificial Market Juicing will not be pretty. Full Story
By: The Energy Report and Elliot Gue - 8 October, 2010
Author and Energy Strategist Editor Elliott Gue looks to larger global energy trends to establish his investment strategies in alternative energy. Two of those trends include nuclear power development in emerging markets and the natural gas infrastructure needed for America's burgeoning shale gas plays. Full Story
The point of this is that despite the Cabal efforts to impose deflation on us, there is increasing inflation and eventual hyperinflation. In that context, welfare payments, retirement benefits and what little income most Americans are now receiving will simply not be enough to keep up with price increases, even assuming that these payments continue at the present levels. Full Story
By: Richard Daughty, The Mogambo Guru - 8 October, 2010
Rick Mills of aheadoftheherd.com posted a chart from earthpolicy.org showing “World Irrigated Area Per Thousand People, 1950-2007” which is almost Malthusian in its implications, in that the world “irrigated area” per thousand people reached its maximum of about 75.5 hectares per thousand people in 1980, but has now fallen to 43 hectares, which is the same area as was irrigated in 1960! Full Story
Bullion bears had better not get their hopes too high in the wake of yesterday’s nasty plunge in precious metals. The price of an ounce of gold on Comex fell $40 from high to low, or about 3%, and silver fared even worse, falling from 23.53 to 22.47, or nearly 4.5%. We see this action as purely corrective, however, since none of the factors that have been driving silver and gold higher have changed. Full Story
History tells us that mid-term elections are normally bullish for the markets. But it may not be the case this time. The race to the bottom with competitive currency devaluations is destructive and could ultimately end badly for everyone. Full Story
We are on the point of a major breakout by Precious Metals stocks that is expected to lead to a powerful rally. The reason that the rally will be powerful is that stocks have been held in restraint since late last year by a zone of very strong resistance in the vicinity of the 2008 highs. This resistance is on the point of being overcome and when it is the last argument that bears are using to justify their position will crumble - namely that of the non-confirmation of gold's continuing new highs by stocks - and they will be forced to cover or face annihilation. This covering should give added fuel to the accelerating rally. Full Story
I really dislike sounding inflammatory. Saying that things are going to go terribly wrong runs a risk of being classed with those who think the world will end in December 2012 because of something Nostradamus or the Bible says, or because that’s what the Mayan calendar predicts. This is different. In the real world, cause has effect. Full Story
If you’ve followed our work you know how useful intermarket analysis can be when deciphering future movements and trends in the precious metals complex. Years ago when I would analyze Gold I would only follow Gold. Now I am aware of a wealth of markets that can be analyzed, which can help provide an outlook for precious metals. Full Story
The last thing the global economy needs right now is anything that would hamper or derail economic growth. Unfortunately, there appears a growing specter of this occurring. Brazil and Japan’s recent decisions to intervene in the currency markets follow a disturbing trend. If policy makers are not careful, present dynamics may precipitate a worldwide economic slowdown, brought about by protectionist pressures and exacerbated by political motivations globally. Full Story
I have been a student of money and credit for over fifty years. I could summarize the result of my studies as follows: Most, if not all, the great events in the history of mankind since the advent of money, have a causal explanation. The causes are to be found in the use or abuse of money and credit — provided that we penetrate historiography sufficiently deeply. Full Story
By: The Gold Report and Greg McCoach - 7 October, 2010
Mining Speculator Newsletter Writer Greg McCoach is nothing if not outspoken. "The U.S. government is now getting to the point that it can no longer pay the interest on its Treasury Bill debt through normal means. Once this leaks out, the Fed will start creating money on top of money. It will become a total Ponzi scheme," he says. Full Story
Okay, so Peta's breathless analysis – courtesy of some under-sexed sub-editor in Wapping, East London – is a little awry. (Market volatility in gold actually stands at a 5-year low.) But it's little wonder gold only pushed higher again on her hot market commentary, breaking to new all-time highs above $1350 an ounce just after she shared her insights with The Sun's 7.6 million readers. Full Story
By: Richard Daughty, The Mogambo Guru - 7 October, 2010
Things are getting so, so, so weird that I was locked inside the Mogambo Bunker Of Panic (MBOP), looking through the periscope to keep a vigilant watch for the social explosion outside that was coming, I figured, so, so soon, with my finger on the trigger of something fully loaded and reassuringly .45 caliber, and a slice of yummy pizza in my one free hand to keep my energy level up via the universal Magic Of The Pepperoni (MOTP). Full Story
We want to pay very close attention to the rally in gold and silver right now, since a stall following such a dizzying climb could send bullion quotes into a 10% dive before most traders could react. We said here yesterday that silver in particular looks like it could use a rest; indeed, a key stock that Rick’s Picks follows closely and in which we have a long position may already be anticipating it. Full Story
Some significant events are in progress, extremely important developments in the grand pathogenesis that reflects the deep decay and deterioration in the US financial structure. The most recent events pertaining to mortgage loans, home foreclosures, and disclosed fraud carry great potential to open extremely wide cracks in the American social order. Full Story
The concern in the U.S. is that if the Federal Reserve pumps more money into the system, its efforts will hurt the value of the dollar and possibly stoke inflation, two events that would drive demand for gold. Yet some investors are buying gold on concern that stimulus measures might fail, leading to even deeper problems for the global economy. Full Story
Even if you’re not one who tracks currency values, you just knew the dollar was on the ropes again if you bothered to check your mail box. Whenever the dollar shows any sustained weakness the newsletter publishers will send out bulk mail advertisements with sensational headlines like, “Dollar Crash Looms!” or “The Dollar Will Soon Be Devalued and Replaced.” After receiving two such mailings on the same day last week, it was obvious to me what the investor sentiment was like on the greenback. Full Story
Before this year, precious metals demand was mostly local, with a few large institutions and investment banks buying shorts on precious metals to mitigate any possible increase in price. However, as time goes on and investment banks around the global shutter their trading desks, big money is now moving into metals. So much big money is moving, in fact, that a number of investment banks are opening up new vaults to keep up with exploding demand. Full Story
By: Bob Chapman, The International Forecaster - 6 October, 2010
Joblessness still dogs the economy, which needs 125,000 jobs monthly just to keep up with population growth. As we await September’s statistics we wonder if they’ll be as bad as August’s loss of 54,000 jobs? This unfortunate situation has been going on for more than three years; 22 million Americans do not have jobs and some 10,000 million additional are forced to work part-time, some 34 hours a week. Full Story
Gold now has an RSI reading of over 84 as I write this article; it is sitting just under US$1350 an ounce and it is very overbought. This is not to say it cannot get more overbought short term however it can indicate gold needs to take a breather very soon now. Full Story
As investors in the very volatile precious metals sector it would be very easy to make the decision to sell and get out of the market as you/we have now re-cooped our capital and hopefully everyone has profits as we write this piece. So, is it time to sell? Full Story
In Round QE1 2007-2009 of the unfolding global financial crisis, Federal Reserve Chairman Bernanke fought a remarkable round. It was the global financial and economic heavyweight fight of his life. Bernanke’s effort temporarily prevented a global deflationary debt and economic demand collapse in the unfolding Kondratieff winter season. It remains to be seen whether QE1 and the trillions it will cost U.S. taxpayers will change the ultimate outcome. Full Story
By: Richard Daughty, The Mogambo Guru - 6 October, 2010
Every time I see some government “official” pronouncement of inflation, I am always reminded of John Williams at shadowstats.com, who calculates inflation the pre-Clinton way, and as such, routinely finds that actual inflation is actually running 3 or 4 times as much as the government says, and sometimes more, probably! Full Story
The other day, we asked what kind of benighted Wall Street lackey would be so bearish on gold and silver these days as to advise their immediate sale. With nearly every central bank in the world on a monetary wilding spree, how, one might ask, could bullion prices possibly fall? And, yes, they will someday — in a big way. But that day probably lies well down the road, since there is almost no chance that a world hopelessly addicted to central-bank “free” money is about to go cold turkey. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 5 October, 2010
The argument that South African mines will be nationalized stems from Julius Malema, the head of the Youth League of the ANC. It has been rumbling on for some time now. Mrs. Shabangu the Mines Minister previously stated that it would not happen in her lifetime. This was ignored by the Youth League who held to their position. Full Story
The reality is that most gold stocks have risen solidly, and now the GDXJ is poised to attack new highs with this morning’s action in bullion. Will it happen? I think so, but the only thing I know for sure is that if it happens, I’ll be ringing my Gold Juniors cash register, and if it fails here, I’m back on the buy, and so are you! Full Story
New York Federal Reserve Bank (Fed) president Bill Dudley’s speech Friday attracted much press attention, as it should have. His speech is correctly read, as in the press commentary, as providing a broad hint of more policy easing to come. Full Story
In this article I identify the economists, academics, analysts and financial writers who hold such a lofty opinion of the prospects for gold and provide the URLs of their articles so you can ascertain for yourself their logic for such parabolic moves in the years to come. Full Story
By: Richard Daughty, The Mogambo Guru - 5 October, 2010
Bill Bonner here at The Daily Reckoning is one of those guys who, for some reason, figures that we (represented, apparently, by me) are smart enough to “connect the dots,” when some of us (again, me as “everyman”) are obviously not smart enough to engage in such mental gymnastics. Full Story
Now comes a survey that says the American public has soured on free trade. This is one populist sentiment that few politicians have the guts to debate, let alone oppose. Under the circumstances, perhaps we were wrong when we wrote here the other day that a move in Congress to sock China with punitive new tariffs would fail simply because the destructive consequences of the Smoot-Hawley Tariff of 1930 are too well-known. Full Story
By: The Gold Report and Byron King - 4 October, 2010
Some people speak softly and suppress their opinions. Newsletter Writer Byron King is not one of those people. "We have to quit screwing around. We have to get back to basics, back to capital investments and making things—important things. Great countries mine metals and minerals," he says in this exclusive interview with The Gold Report. Full Story
Officialdom will never admit it and it will NEVER be reported in the mainstream financial news but our financial system has NEVER been in a more precarious state. A banking crisis of unparalleled proportions is coming – probably soon – the exact timing is still sketchy. Got physical precious metal yet? Full Story
The UPSHOT from last week's London Bullion Market Association conference in Berlin, at least for gold prices, was that there's more sound and fury about bullion in the financial pages than in the dealing rooms right now. Full Story
At the present time the price of gold does not seem to be intimidated by the large COT “net short’ number, as in the past. Could it be that the hedge fund operators and large investors sense a possibility that the commercials are ‘on the ropes’? Full Story
So what’s all the hubbub about a nightmare? The charts are now confirming we are looking at significant inflation moving forward, and the price increases to go along with this, meaning we are staring down the barrel of an inflationary depression dead ahead. And make no mistakes about it; this will be a nightmare for the average citizen, literally wiping out the middle class financially in the process. Full Story
By: Dr. Ron Paul, U.S. Congressman - 4 October, 2010
In this struggling economy it is essential for politicians to take a step back and think about what government has been doing to business in this country. In less than 200 years, the free market, property rights, and respect for the rule of law took this nation from a rough frontier to a global economic superpower. Today, however, our nation and our economy clearly are headed in the wrong direction. Full Story
Ah, yes, the silver bubble of 1978-80 was a time to remember in financial history. Bunker Hunt, heir to the H.L. Hunt fortune, became an aggressive bull on silver and tried to engineer a silver corner. But no one has ever engineered a corner on a free market, and Bunker Hunt did not become the first. He stayed too long. He overplayed his hand. And when the bubble collapsed, he lost his daddy’s fortune. Full Story
By: Steven Saville, Speculative Investor - 4 October, 2010
The Fed's official mandate is to promote maximum employment and price stability. Since changes in employment levels are effects of changes in the pace of economic growth, this effectively means that the Fed's official mandate is to promote maximum economic growth and price stability. Which naturally prompts the question: how could a committee with only interest-rate and money-supply manipulation tools fulfill such a mandate? Full Story
Two of our three requirements for a major uptrend developing across the Precious Metals sector that were set out in the last Gold and Silver Market updates have now been met - first silver has broken out to clear new highs, then gold broke out above the top line of its potential bearish Rising Wedge - the only condition remaining to be fulfilled is a breakout by the stocks indices - and that may be imminent. Full Story
Proclaiming a gold bubble has been the mainstream financial media's Pavlovian response to every incremental increase made by the yellow metal since it emerged from a two decade low in 2001. Appreciating an astounding 400%+ in USD's from its bottom, gold has handily outperformed all major asset classes over the past 10 years. Full Story
Gold at $1,300, silver at $22, Big Mining Stocks within inches of breaking out; the buck gets gutted (and skinned), oil pops above $80, copper above $3.65 and the Fed is worried about deflation? Really? Full Story
Nine weeks of consistent upside action. It can’t continue for much longer before something gives. Gold is once more becoming the talk of the town (or the financial columnists). That by itself is a warning of impending collapse. What do I think? See below. Full Story
Gather three hundred average American investors in a room, ask how many own physical gold and how many own physical silver - and you might see one or two hands raised. Full Story
With December Gold closing on the $1340 target that we disseminated a while back, it’s time for a fresh perspective. We wouldn’t want readers to get the glum idea that $1340 is as good as we think it’s going to get. Far from it. The way gold and silver have been acting lately, it feels more like bullion prices are just getting off the launching pad. Full Story
1st Hour: Headline news & the Market Weatherman Report. Spotlight Stock Picks. Host Chris Waltzek & The International Forecaster discussion and answer listener's questions. 2nd Hour: Gerald Celente, Trends Research Institute Bill Murphy, GATA.org Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 3 October, 2010
You may be asking yourself, did the central banks ever control the gold market? Yes, indeed they did! The gold Standard was the ultimate system of control they had until it was dropped. Then President Roosevelt’s Administration took control of the U.S. gold market when he confiscated all U.S. citizens held gold. Ownership of gold was only re-permitted in the early seventies. Full Story
By: Bob Chapman, The International Forecaster - 3 October, 2010
There is no question that those who control our government from behind the scenes are bound and determined to take over the $6 trillion in private pension plans. Whether they’ll be successful remains to be seen. The Department of Labor wants to force all IRA’s and 401k’s into the arms of a corporate fascist government, that knows better what is good for you, than you do. You would exchange your hard earned investments for a guaranteed, government annuity that is not worth the paper it is written on. Full Story
By: John Mauldin, Millennium Wave Advisors - 3 October, 2010
This week I am at a conference in Houston. I must confess that I don't attend many of the sessions at most conferences where I speak. But today, the guys at Streettalk Advisors have such a great lineup that I am there for every session. But it's Friday and I need to write. The solution? This week you get a "best of" letter. Full Story
We continuously ask friends to send links to stories on gold they encounter in their daily excursions on the Internet. These are people who do not follow the financial markets. We want to get an indication of how many gold stories ordinary folks are bumping into. We were away for a week and upon returning we had almost 200 e-mails in the inbox among them many links to gold stories sent by our diligent friends. Full Story
Friday kicked off the Casey’s Gold & Resource Summit in sunny – scratch that – rainy, Carlsbad, California. With gold hitting $1,320/ounce today, the energy here is incredible. Friday's agenda was corporate presentations, where attendees listened to representatives of twenty of the premier junior mining companies in the world – the best of the best, with operations in the U.S., Canada, Central and South America, Africa, and Papua New Guinea - exploring for or mining, gold, silver, uranium and the industrial metals. Full Story
By: Richard Daughty, The Mogambo Guru - 3 October, 2010
An interesting graph of “a useful road map to any secular bull market” appeared in Casey’s Daily Dispatch. It was a graph showing how investment interest in a developing bubble classically proceeds through four stages. Full Story
September saw the S&P index roar 8.76%, the Dow was up 7.72% and the Nasdaq shot higher by a full 12.04%! Wow you must say! You must feel so much richer this month. But wait. The US Dollar index actually fell by 5.38% effectively reducing your purchasing power. Full Story
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