Featured is the daily gold chart. Price broke out at the 200DMA (red line) in February and since meeting with resistance at $1400, a test of the breakout has been underway. The supporting indicators (green lines), are providing hints that support is available here. A breakout at the black arrow will tell us that a bottom may well have been carved out. The green arrow points to a ‘golden cross’, with the 50DMA moving into positive alignment with the 200DMA. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 4 April, 2014
As the Ukrainian crisis unfolded threats of financial war came from Russia and to a lesser extent from the E.U. and the U.S. They were not carried out except a few sanctions targeting key personnel in Russia. These were shrugged off and the crisis appears to have dropped to a series of posturing by both sides. A sigh of relief crossed the developed world and investment life went back to normal. Full Story
The shocks will be many as the USDollar struggles and falls off the global financial stage in full view. The desperate maneuvers like in Syria and Ukraine should be seen as last ditch efforts to save a dying system. For two decades the USDollar has been defended by military means. Worse, for 50 years the USGovt has been a hidden nazi enclave of wicked fascists who have hidden behind their overt disdain for communism, with Kissinger the flag bearer, with Brzezinski the ideologue, with Papa Bush the executor, with narcotics and genetics and gold thefts their principal agenda. Full Story
For the past decade, we have described why TPTB are so desperate to suppress gold and silver prices – while at the same time, no doubt, acquiring them for themselves. Plain and simple, PMs are the only known substances to have retained their monetary properties throughout history; as opposed to the fiat currencies they attempt to control the world with, which have a 100% failure rate. Full Story
This report lays out the investment thesis for gold. Silver is mentioned only where necessary, as a separate report of equal scope will be forthcoming on that topic. Various factors lead me to conclude that gold is one investment that you can park for the next ten or twenty years, confident that it will perform well. Timing and logic for both entering and finally exiting gold as an investment are laid out in the full report. Full Story
It’s been a while since we looked at Gold in a vacuum. We’ve focused on the gold stocks as they have led the sector. We covered Silver last week. Gold is more interesting because in its current state its more difficult to draw a strong conclusion. One could look at the evidence and go either way. Today Gold is back above $1300. Is this the start of a run to and past $1400? I don’t know. My gut says more range bound activity is ahead. Full Story
By: Adam Hamilton, Zeal Intelligence - 4 April, 2014
Gold stocks have lapsed back to despised status after late March’s sharp selloff. Thanks to their strong 2014 rally before that, traders were slightly warming to this abandoned sector. But despite the rekindled extreme bearishness, gold stocks remain the greatest bargain in all the stock markets. Their prices are still absurdly undervalued relative to gold which drives their profits, fantastic buys for brave contrarians. Full Story
I have been revisiting estimates of the quantities of gold being absorbed by China, and yet again I have had to revise them upwards. Analysis of the detail discovered in historic information in the context of China's gold strategy has allowed me for the first time to make reasonable estimates of vaulted gold, comprised of gold accounts at commercial banks, mine output and scrap. There is also compelling evidence mine output and scrap are being accumulated by the government in its own vaults, and not being delivered to satisfy public demand. Full Story
By: Peter Schiff, CEO of Euro Pacific Capital - 4 April, 2014
In recent years a good part of the monetary debate has become a simple war of words, with much of the conflict focused on the definition for the word "inflation." Whereas economists up until the 1960's or 1970's mostly defined inflation as an expansion of the money supply, the vast majority now see it as simply rising prices. Since then the "experts" have gone further and devised variations on the word "inflation" (such as "deflation," "disinflation," and "stagflation"). Full Story
A recent 60 Minutes television show interview revealed the long established electronic trading mechanism used to front run and carry out price management and profit schemes across trading seconds. In the wake of the interview, one cannot help wonder how many degrees of separation exist between public awareness of this and its connection to futures and precious metals price manipulation. Full Story
This infographic, part two in our 2014 Gold Series, covers the full supply picture behind the yellow metal. Within the planet’s crust, there is only 1 gram of gold for every 250 tonnes (550,000 lbs) of earth. Gold’s rarity means that finding economic deposits is extremely difficult. To understand how gold mining and supply work, we must first unearth how gold deposits form. Full Story
Regarding June Gold, a 1272.00 target broached here earlier still looks like a promising spot to try bottom-fishing if it’s reached. Alternatively, if bulls have no patience for more correcting, a print today at 1296.60 would trip the unqualified ‘buy’ signal’ we’ve been waiting for. Full Story
So what is money? Money they say has three purposes – a medium of exchange, a store of value and a unit of account. Money is used to purchase goods and services, to pay debts and to pay taxes. At one time all people did was barter. They even used cows or sheep. The Egyptians used grain. The trouble with those methods was they were perishable or in the case of barter, it was sometimes difficult to find common ground. Full Story
There is a war going on in America and around the world that is insidiously destroying jobs and enriching the few. It receives little visibility outside the corporate board rooms, but the war is as deadly as the casualties and dead bodies on any battlefield. The casualty in this battle is the employed worker. The victors are those who understand the rules of engagement in the "Free Money War"! Full Story
You may have heard the old adage: “What is worse than being lost? Not knowing you are lost.” In that same vein: What is worse than being at risk? You guessed it! Not knowing you’re at risk. Full Story
Zero Hedge has run an excellent article explaining the use of commodities, beginning with copper, to work around the Chinese government’s imposed capital controls[1]. Capital controls are intended to prevent arbitrage between the dollar interest rate and the yuan interest rate, which is much higher. To keep this gap open, and prevent the arbitrage—aka hot money—they have a choice to shut off trade with the outside world as North Korea does, or resort to capital controls. Full Story
Regardless of the number major “booms” and devastating “busts” the majority of investors/speculators are normally wrong in the end. History has provided us with valuable lessons, yet the key emotions of fear and greed combined with a dose of stupidity create extreme volatility in both directions and opportunities for those not swept up in the herd activity. Full Story
By: The Gold Report and Oliver Gross - 2 April, 2014
The bottom is in, declares Oliver Gross of Der Rohstoff-Anleger (The Resource Investor), and the bulls are ready to charge. In this interview with The Gold Report, Gross says that the woefully undervalued juniors will exploit their leverage advantage, with best-in-class companies gaining as much as 500% to 1,000%—or more. Full Story
For all the bullish 2014 expectations among Wall Street analysts, few if any consider the impact of the long-term cycles. After all, it’s in late 2014 when several major long-term yearly cycles are scheduled to bottom in unison, from the widely followed 4-year cycle to the well-known 10-year cycle and on to the even bigger 40-year and 60-year cycles. Each of these cycles tends to stamp its unique presence on the stock market when they bottom individually. How much more then can we expect to feel their presence when they’re bottoming contiguously? Full Story
By: Peter Schiff, CEO of Euro Pacific Precious Metals - 2 April, 2014
So far, 2014 has been a paradoxical year for gold. Many investors aren't even aware that it has rallied almost 8%. On the rare occasion that the financial media mentions the yellow metal, it is only in the context of comparing the recent rise to last year's decline. In spite of this overwhelming negative sentiment, gold is experiencing a stealth rally as one of the best performing assets of the year. Let's look at some important metrics of the most under-valued sector in this market. Full Story
Gloom Boom & Doom Report publisher Marc Faber discusses the fragile state of the US and global financial systems… how rising inflation will affect the average American… how soon the bubble will burst… and why gold and silver will triumph. Full Story
With April Fools’ Day behind us, it’s time to get serious about investing. Don’t be fooled by this week’s non-farm payroll report; nor by the assertion that the U.S. may have the cleanest of the dirty shirts. And certainly don’t be fooled into thinking the market has your interests in mind… Full Story
It is not necessary to delve into the realm of wild conspiracy theory to arrive at a belief that the price of gold is subject to some manipulation. Considering how central and controversial the respective roles of gold and the fiat USD are as major world currencies, it would be naïve to assume that fiat stakeholders do not have both strong means and strong motive to manipulate the price of gold in USD. Full Story
The gold sector is peopled by a high concentration of contrary indicators because it is a relatively (to the vast world of equities and bonds) small market that offers refuge from some of the damaging aspects of the spectrum of investment products that are supported by the manipulation of interest rates and printed (and digitally created) money supplies. Thus, gold has moral high ground if an asset can be thought to have morality. Full Story
Briefly: In our opinion short speculative positions in gold (half), silver (half) and mining stocks (full) are justified from the risk/reward perspective. Generally, everything that we wrote in our previous alerts remains up-to-date – precious metals are likely to move lower in the coming weeks – and the thing that we would like to emphasize today is that even if we see an upward correction, it will likely not be anything more than just that – a correction. Full Story
The whole “recovery” in Europe never made much sense to us. We are told repeatedly that Europe has passed through the storm, that the EU economy and financial system are on the mend, and that Europe is now the place to be investing. However, the fact of the matter is that economic data can be fudged for political reasons (e.g. Angela Merkel’s re-election bid in Germany), riots/ protests can be ignored or marginalized by the media, and the real state of bank balance sheets can be hidden as long as you avoid major margin calls or funding stressors. Full Story
By: The Gold Report and Stephan Bogner - 2 April, 2014
Stephan Bogner, mining analyst with Rockstone Research and CEO of Elementum International, views the crisis in Crimea as the beginning of a larger global power shift east of the Atlantic. In this interview with The Mining Report, Bogner details what these shifting power dynamics will mean for the commodities market. Full Story
"Too many people know firsthand how devastating it is to lose a job at which you had succeeded and be unable to find another; to run through your savings and even lose your home." –Janet Yellen, March 31, 2014. I’ve predicted that quantitative easing will be replaced with actions taken by the Fed to force commercial banks to increase lending. Dr. Yellen could put downwards pressure on interest rates by charging banks a fee to keep reserves with the Fed. Full Story
Janet Yellen has only been Chairman of the Federal Reserve for less than two months and I am already convinced that she is the best thing to happen since Barack O'Bomber was first elected and awarded the Nobel Peace Prize. There are a number of reasons for that. First, as we can see by her speech yesterday she is going to be a laugh riot. And, secondly, all of her actions will undoubtedly, indisuptably destroy the dollar... Full Story
We have examined all six exits from the budget box. Default and telling the truth are unacceptable. Increasing taxes and cutting spending are painful, especially to reelection dreams. Expect more borrowing and monetizing debt. Expect more spending as the national debt climbs to new heights of craziness. Expect higher prices for everything you need, and more talk-talk as the remaining choices become more painful. Full Story
By: Steve Saville, The Speculative Investor - 1 April, 2014
First, silver tends to perform better than gold -- causing the gold/silver ratio to decline -- during the late stages of intermediate-term precious-metals rallies and especially during the late stages of cyclical precious-metals bull markets. It does so for the same reason that highly-speculative junior gold-mining stocks tend to be much stronger than their larger/lower-risk counterparts during the late stages of multi-year advances. As a rally progresses, speculators are emboldened to take more risk and go further down the food chain in search of the proverbial killing. Full Story
Marc Faber had it right when he pointed out last week that Putin, Vlad, was just protecting Russian interests by moving into Crimea, and that he was right to do so. But as you may remember from our discussion on the topic a few weeks back, it's more than that. You see both Vlad and Ivan (the Russian people) realize the West, and more specifically Anglo - American elites and their bankers are screwing them out of a fair price for their wears (think oil and gas, which is already happening, not to mention gold and silver); and, have decided to do something about it. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 1 April, 2014
Unfortunately the World Gold Council's program at UC Berkeley again will be open only to people who "spend no time whatsoever thinking about gold" -- open only to "central bankers and finance ministry officials," not to the public and not even to gold mining company executives. A respected market analyst cordial to GATA applied to attend last year's program but was rejected. Full Story
Dieting is a four-letter word to many, but a necessary evil for an equal number of people. Losing weight is not only good for your health, it can also be good for your wallet. On average, people aged 65+ spend more than $5,000 per year on health-related expenses. Not all of them can be avoided, but there are some life changes that you can make now to slim your waistline and redirect some of those healthcare dollars back into your portfolio. Full Story
Commodity returns vary wildly, as experienced resource investors can attest and our popular periodic table illustrates. This inherent volatility can spell opportunity for the nimble investor who can look past the mainstream headlines to identify hot spots. Our global resources expert, Brian Hicks, CFA, identified four we believe are revved up for a resources boom. Full Story
By: The Gold Report and Robert Cohen - 31 March, 2014
Like the rest of the market, Dynamic Funds is being choosy as it shifts cautiously from bullion to equities, in what Vice President and Portfolio Manager Robert Cohen describes as "baby steps." In this interview with The Gold Report, Cohen explains his method of analyzing miners and what factors will push the gold price higher this year. Full Story
Indeed, it is getting better, a little at a time. The bear market for junior resource stocks began on Monday March 7, 2011, and has continued unabated for over three years. If you are skeptical about this statement, this chart of the Toronto Venture Exchange Index illustrates my point. Full Story
We’ve all heard of the inflationary horrors so many countries have lived through in the past. Third-world countries, developing nations, and advanced economies alike—no country in history has escaped the debilitating fallout of unrepentant currency abuse. And we expect the same fallout to impact the US, the EU, Japan, China—all of today’s countries that have turned to the printing press as a solution to their economic woes. Full Story
Gold is a free market and international unit of account. It got that way without a Pharaoh. It got that way because of its properties as a good that was internationally valued and recognized, by its durability, divisibility, high value per unit of weight, relatively low variation in supply, and so on. Once it became a numeraire, paper certificates could be issued against it. It still remained the numeraire. Full Story
There is a growing presence out there talking about a potential Inverted Head & Shoulders (IH&S) on the HUI, which NFTRH has had going since mid-late last year. Below is a simple view of it, with last week’s ‘Week 2 down’ making perfect sense (symmetrically speaking) with ‘Weeks 1 & 2 up’. Full Story
The story that commodities are at the centre of China's shadow banking system has gained prominence in recent weeks. No firm evidence has been presented to confirm the scale of these activities, bearing in mind China's State Administration of Foreign Exchange (SAFE) clamped down on these activities last May. Full Story
Precious metals retailer Tanaka Kikinzoku Jewelry has reported a five-fold surge in sales of gold bars this month, according to the Financial Times. The FT reported: ‘At the company’s flagship store in Ginza on Thursday, people queued for up to three hours to buy 500g bars worth about $22,500. March has been the busiest month in Tanaka’s 120-year history.’ Full Story
A bad dream jolted me awake one morning last week: the economy had crashed, the banks were shuttered, commerce had ceased, the stores were stripped bare and rioting was everywhere. This bleak vision is not unusual for anyone who has imagined what the U.S. economy is going to look like when the ponderous hoax that sustains it has been fully revealed.** What was most troubling about the dream was that the collapse evidently had taken me and my friends by surprise. Full Story
Doug Casey, Chairman of Casey Research,LLC., is a highly respected author, publisher and professional speculator who literally wrote the book on profiting from periods of economic turmoil: his book "Crisis Investing" became the best-selling financial book in history, remaining #1 on the New York Times bestseller list for a then-record 29 weeks... Professor Tutterow teaches Economics. He holds a B.S. in Decision Science from Berry College and a M.A. and Ph.D. in Economics from Georgia State University. Prior to joining Mercer University, Dr. Tutterow held faculty and administrative appointments at West Virginia University, Georgia State University and Kennesaw State University. He has also served as a visiting professor at the University of the West Indies in Trinidad and at the Institute for Industrial Policy Studies in Seoul, South Korea. Full Story
So, you woke up this morning to learn you’ve been asked to replace Janet Yellen as chairman of the Federal Reserve. You would normally be full of questions but the guy on the other end of the phone is the president, and either the person is doing a great impression or he’s the real thing. With a robe thrown hastily around her your wife comes into the bedroom with three stout, suited men behind her. None of them is smiling. All of them are over six feet and athletic-looking. Your wife looks like she’s seen a ghost. You figure you’re talking to the guy in the White House. Full Story
As most of you know by now I believe we are going to see a big surge in inflation this year. As I've noted in my previous articles the first leg up in the CRB has run its course and broken the 3 year down trend that's been in place since 2011. I think it's time for the second leg up in that inflation. The two-week dip in the CRB has cleared the overbought conditions from the initial surge and I think we will now get one more push to test that 2012 high before commodities experience a more significant pullback this summer that sets up the big inflationary spike that I am anticipating to occur during the second half of the year. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 30 March, 2014
Fiat currency advocates aren't the only ones who perpetuate myths about economics, like the desirability of central banking. Central banking works great in theory but in practice central banking is the power to create infinite money, which is absolute power, and of course it is never exercised by an impartial machine following infallible formulas; rather is it exercised by fallible people who are corrupted absolutely by absolute power. Full Story
Plutarch argued over 1900 years ago that it was income inequality that lay at the heart of the failure of the Greek republics. Other writings of that period demonstrate that the leaders were worried about the distribution of wealth in society. The causes of unequal distribution have certainly changed over time, but it seems to be built into our DNA to obsess over what we have relative to what others have. Full Story
Almost all who read our commentaries know that we place the greatest importance on reading the developing market activity, as best seen in charts, in order to have the closest pulse on what is going on in the market[s]. The reason is because the activity found in price and volume behavior reflects the decisions of all market participants. Full Story
Today’s supposed “financial markets” will one day be viewed by historians with awe and wonderment. The bubbles created by money printing and market manipulation – not just in the U.S., but the entire world – have no precedent in centuries of economic experience, as never has currency been universally unbacked, nor government intervention so widespread. Full Story
Markets remain choppy and in correction mode and that’s why we’ve mostly been in cash the past 3 weeks. So many people always want and need action but this type of market is hard on an account and will chop it up quickly. The secret to making it in the long-run is having the patience and fortitude to sit out these periods. I guarantee you’ll be much happier moving forward into a strong market with all your cash ready to go. Full Story
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