By: Adam Hamilton, Zeal Intelligence - 5 May, 2017
Gold has suffered a sharp pullback over the past couple weeks, stoking much bearish sentiment. While a variety of factors fed this selloff, the precipitating catalyst was a gold-futures shorting attack. These are relatively-rare episodes of extreme selling specifically timed and executed to manipulate gold prices lower rapidly. Traders need to understand these events, which are inherently self-limiting and soon bullish. Full Story
When billions of dollars flow into an ETF, it’s safe to assume this is because of its popularity among investors. The VanEck Vectors Junior Gold Miners ETF (GDXJ), which invests heavily in junior gold miners around the world, can attest to this kind of popularity, with some $1.5 billion flowing into it this year alone. Total assets jumped 60 percent in 2017 to over $5 billion. Full Story
The first 100 days of the Trump administration have brought some surprises and disappointments – as well as some new threats and new opportunities for precious metals investors. Among the disappointments was President Trump’s inability to push Obamacare repeal through Congress. The White House intended for the GOP’s replacement to reduce the deficit and lay the groundwork for tax cuts. Full Story
Chris Martenson from PeakProsperity.com returns to the show, author of the must read book, Prosper!. The guest / host concur, the Great Recession of 2008 never ended; policymakers merely delayed the inevitable day of economic reckoning. His sources indicate that Fed insiders are de facto manipulating the CME futures markets via colocation near the exchanges. Although the precious metals markets have corrected ahead of Fed rate hikes, liquidity actually expanded with approximately $5 billion directed to banks. Full Story
This article gets to the heart of why central banks’ monetary policy will never succeed. The fundamental error is to regard economic cycles as originating in the private sector, when they are the consequence of fluctuations in credit. Full Story
The first round of the French presidential elections is behind us. Now, the main developments in Europe which may affect the gold market – except the turmoil in the still fragile banking sector – are a run-off in France and Brexit. Let’s analyze them and their potential impact on the gold prices. Full Story
The past few weeks have been rough for precious metals. Gold had climbed all the way to $1297/oz but the other parts of the sector (Silver and the gold stocks) failed to confirm the move. They have since fallen off a cliff. Over the past 14 days, GDX has lost 15% while GDXJ has declined 20%. Silver during that span has declined every day. Yes, Silver has declined 14 consecutive days. Gold still has some “catching down” to do (with the rest of the sector) but the gold stocks and Silver are oversold and nearing a bounce. Full Story
The internet is slower than molasses in January and hard to annotate charts, but I got a few updated. Below is the combo chart for the PM complex we’ve been following which shows the dominate pattern being the triangle consolidation pattern. Just before I left the price action was breaking out below the bottom rail and I was looking for a possible backtest to the underside to take one last position. Some had a complete backtest but others didn’t. If you were lucky enough to get that last position great job. Full Story
HUI is torn, frayed and downright bearish. What’s more, it’s been bearish since it started to drop from the SMA 200 failure point. In NFTRH, we managed bounce #1 (off the Dec. low) as just that, a bounce. Then we managed bounce #2 as just that, a bounce. It doesn’t take a trained eye to see why; only a rise above the October high would have set an uptrend for bounce #1 and a rise above the February high would have set an uptrend for bounce #2. Full Story
By: Steve St. Angelo, SRSrocco Report - 5 May, 2017
Just like the current market frenzy pushing Bitcoin to new all-time highs, the same sort of buying mania will also push the silver price to new highs. Even though the silver price and precious metals sentiment have fallen considerably, the market has no clue just how undervalued the shinny metal truly is. Full Story
By: Steve Saville, The Speculative Investor - 5 May, 2017
Governments and central banks have invoked the writings of J.M. Keynes to justify the massive increases in government spending and monetary inflation that have occurred over the past 9 years. However, some of Keynes’s apologists have pointed out that the famous British economist would not have agreed with many of the policy responses for which his work has provided the intellectual justification. Full Story
Silver’s losing streak could make it into the record book if it continues for yet a little while longer. The July contract has fallen for 13 straight days and is starting to look like the 1961 Philadelphia Phillies, who lost 21 straight games before beating the Milwaukee Braves 7-4 on a stiflingly hot day in August, 1961. I was a bigger Phillies fan back then than I am a silver fan now. They had Robin Roberts, Stan Lopata, Harry Anderson, Ed Bouchee and a catcher name Carl Sawatski who is best remembered, if remembered at all, for having caught behind home plate without a chest protector. Full Story
Investors are under-estimating inflation risk. As a consequence, they are under-pricing inflation protecting assets including precious metals. The Federal Reserve has given itself the objective of engineering an inflation rate of around 2%. However, there are many ways in which real-world inflation can potentially outpace the Fed’s 2% target. Full Story
Michael Eastham, Founder and President of Fellowship Financial Group and author of Common-Sense Income Strategies, makes his debut on Goldseek. As investors approach the age of 50, their focus should shift away from capital performance to income maximization. Our guest guides clients away from market timing approaches in favor of solid, reliable income strategies. Full Story
1) Banks, hungry for profits, began issuing mortgages to sub-prime borrowers (people who couldn’t possibly pay the loans back). 2) Housing prices and sales began to fall. 3) Subprime borrowers began defaulting on their mortgage. 4) Subprime mortgage lenders began to collapse. 5) A crisis unfolds as the issue spreads throughout the banks. Full Story
Examine the picture below. The global economy thrives on debt and credit. We purchase essential products using debt/credit. The U.S. dollar bill is a debt of the Federal Reserve. All debt based assets have counter-party risk. The St. Louis Federal Reserve publishes data on “Total Debt Securities” in $ millions. Note the rapid rise since 1971 after President Nixon encouraged rapid devaluation of the dollar. Full Story
How does one construct a portfolio in an era of seemingly ever rising and highly correlated asset prices? Years of asset prices moving higher has changed both retail and institutional investors; it has changed the industry; and, in my humble opinion, those changes spell trouble. The prudent investor might want to take note to be prepared. Full Story
We are getting deep into gold’s daily cycle decline. The French election this weekend could provide the turning point or possibly the employment report tomorrow. Full Story
As the global economic and power shift continues to unfold if we look at history we will see that most, if not all, transfers of power happened after a major war. The odds of war being the catalyst for the coming change increases with each passing day. The endless saber rattling coming out of Washington DC is beginning to incite many of the world leaders who, over the past 15 years, have either kept quiet about the endless unConstitutional wars launched by the U.S. or have done their best to remain calm and collected as they attempt to negotiate with blood-thirsty warlords that occupy the Pentagon and State Department. Full Story
Precious metals moved visibly lower yesterday, but we can’t say the same about gold and silver mining stocks. The miners refused to follow the metals lower and the question is if this is a sign of a local (or major) bottom. In our opinion, it’s too early to say so. Miners did outperform yesterday, but due to the recent major technical development (namely, the breakdown below the key long-term support line), the implications are not necessarily bullish. Full Story
Trump’s supporters are increasingly alarmed, outspoken and feeling betrayed as their champion rolls over and plays lap dog for the political establishment. Even Rush Limbaugh, Trump’s golfing buddy and longtime advocate, said this week that what is happening with Trump and the Republicans is a “sellout” and “betrayal.” Full Story
Copper prices sink off of a stunning 32% increase in LME Warehouse Stocks. Gold takes it on the chin as the markets interpret the FOMC Announcement today to keep a June rate hike fully in play. Last, silver continues to lose to gold via the gold silver ratio. Full Story
Of all the mini-bubbles now inflating out there, maybe the least explicable is the race among emerging market companies to borrow dollars. This has gotten them – and their governments — in huge trouble so many times in the past (see the Mexican default of 1982 and the the Asian contagion of 1997) that you’d think dollar debt would be kind of a hot stove thing for Brazilians and Mexicans. Full Story
I think we are approaching a bottoming in the miners and metals, but we still have a few “squiggles” likely to be seen to the downside before we are done. But, as I noted in a Market Alert this past week, we have approached the next region for long term investors to accumulate again, as noted by the blue box on my GDX daily chart. Full Story
By: Steve St. Angelo, SRSrocco Report - 3 May, 2017
After the U.S. economy disintegrated in 2008, due to the Banking and Housing crisis, Americans pawned off a record amount of gold. How much gold? Nearly, 32 million oz (1,000 metric tons). That’s one heck of a lot of gold. Matter-a-fact, U.S. gold scrap supply at its peak of 160 metric tons (mt) in 2011, was more than any other country in the world, even India and China. Full Story
Between March 24 and April 20, JPM and their criminal pals (deceptively called "Commercials" by the criminally complicit CFTC) issued 42,128 new silver contracts and fed them to the hungry hedge funds and other "speculators" wanting "silver exposure" at The Comex Casino. At 5,000/oz per contract, these 42,128 contracts represented the potential obligation to make future delivery of 210,640,000 ounces of silver. This was silver that JPM et al did not own nor did they have it immediately available. And this "silver" was sold to speculators who had no intention of taking/demanding delivery! Full Story
We humans have been changing the world around us for tens of thousands of years. It’s pretty much what we do, we shape and we change the existing environment through design and then indifference to the results of our actions. One of the most basic, fundamental problems (other than the rapid depletion of our fresh water resources) we’ve created for ourselves is the impact of human activities on the land we need to cultivate for our very survival. Full Story
This video discusses the daily and intermediate cycles in gold. Price is now expected to at least tag the lower intermediate cycle trend line around 1240. Following a brief bounce price will likely retest the lower triangle trend line at around 1140. Full Story
On April 11th, the CME and England’s Royal Mint announced that they were testing a blockchain-based platform for trading gold. The product to be traded is a new crypto-coin called, Royal Mint Gold (“RMG”). The token will be issued by the Royal Mint and will represent the digitized version of 1 gram of gold. The gold will be stored in the Royal Mint’s vaults. Full Story
In order for the central bank ponzi scheme of fiat currency to work, especially on a global basis, the central banks learned early on that gold was the enemy of their scheme and, therefore, must be eliminated from the monetary system. The first real step was Executive Order 6102 in 1933. This was just 20 years after the hijacking of the United States. Full Story
Last week I had the pleasure of attending Evercore ISI’s Energy Policy and Geopolitics Conference in Washington, D.C., where I visited with senior staff responsible for infrastructure and energy decision-making. The meetings were encouraging and highly instructive, and they opened my eyes up to some of the lesser-known inner workings of the government. Among them is the reconciliation process, whereby Congress instructs a number of committees to report on any budgetary changes a new bill or spending package might trigger. Full Story
By: Steve Saville, The Speculative Investor - 2 May, 2017
The price of gold is dominated by investment demand* to such an extent that nothing else matters as far as its price performance is concerned. Investment demand is also the most important driver of silver’s price trend, although in silver’s case industrial demand is also a factor to be reckoned with. In addition, changes in mine supply have some effect on the silver market, because unlike the situation in the gold market the annual supply of newly-mined silver is not trivial relative to the existing aboveground supply of the metal. Full Story
When I first read about the gold hidden in the piano, put away no doubt for a rainy day, I was reminded of the settlement between King Ibn Saud of Saudi Arabia and a consortium of oil companies on rights to that country's vast oil riches in the early 1930s. That too involved a stash of British sovereigns – 35,000 of the roughly one-quarter ounce gold coins. Full Story
The markets are speaking, but no one is listening. The single driver of the stock market since election night is the hype of a Trump-policy driven economic boom. The economy is booming, but based on expectations NOT actual policy changes. Full Story
It seems the action seen this past week has bears scratching their collective heads once again. With many viewing the market as certainly "topping" back in March, the market has doused cold water on those expectations, as I had been strongly warning would likely happen. Since holding the support we noted several weeks ago at 2330SXPX, the market has seen quite a powerful move back up to the target we set between 2380 and 2410SPX. And, most of the rally was seen on the back of short covering of those who jumped the gun on the bearish side of the market. Full Story
The best performing precious metal for the week was palladium rising 4.07 percent as Metals Focus sees a global deficit of about 680,000 ounces this year. In addition, Norilsk Nickel PJSC noted this week that their first quarter production of palladium declined 14 percent. Not to be forgotten, investors were loading up on gold through exchange-traded products, reports Bloomberg, pouring $487 million into SPDR Gold Shares on Wednesday. That was the biggest daily inflow into the world’s top bullion ETF in seven months. Full Story
Michael Pento, President and Founder of Pento Portfolio Strategies makes his debut on Goldseek.com Radio. Fed policymakers are bluffing on rate hikes - their true intention is rate cuts, amid 350% national debt per GNP.Head of the Trends Research Institute, Gerald Celente returns with comments on gold and US equities. Geopolitical events are escalating amid saber rattling with Syria and North Korea. Such events oftentimes result in market trends with key implications for global investors. Although the post-election rally in US shares is impressive, a reaction is necessary to sustain the upward momentum. Full Story
Each month, BullionStar's chart wrap-ups profile a series of gold market charts from the extensive GOLD CHARTS R US website. Most of the charts featured have recently been updated with the latest data from March 2017 and in some cases data from April 2017. The charts profiled have been selected as to capture the most important trends and developments currently occurring in the world's major physical gold markets. Full Story
As we continue our tour of the widespread angst afflicting investors large and small today, I want to ask a more fundamental question: Is the angst all in our heads? The quick answer: No, it’s not. The economic challenges we face are real. Fear, or angst, is often a perfectly reasonable response. I’ve said that, with one exception, we can muddle through the coming crises. But “we” doesn’t mean every single one of us. Full Story
It’s frustrating to think there’s nothing you can do about it, because it’s all around you and pervasive in our society today. It’s born in human greed and the desire for power, which are the base modus operandi behind all its manifestations, from America’s new found extremes in neo-fascism, to the (Western) police state, to Empire. From the lowest clerk to ‘the powers that be’, all are equally guilty in allowing its spread in tacitly complicit bureaucracy. Full Story
The first thing you have to remember is anything and everything the Federal Reserve says or does is for the specific purpose of benefiting and protecting the Federal Reserve and it’s member banks, period. The Federal Reserve was designed as a way to transfer the wealth of the many to the few by way of theft using the Department of U.S. Treasury. Full Story
Future global economic growth is in serious trouble as oil discoveries fell to historic lows last year. The International Energy Agency (IEA) reported that the sharp downturn in capital spending by the conventional oil sector was due to extremely low oil prices. Full Story
The short answer to the above question is that they are neither. Read on for the longer answer. Consider what happened to nominal interest rates during the long-term gold bull markets of the past 100 years. Interest rates generally trended downward during the gold bull market of the 1930s, upward during the gold bull market of the 1960s and 1970s, and downward during the bull market of 2001-2011. History’s message, therefore, is that the trend in the nominal interest rate does not strongly influence gold’s long-term price trend. Full Story
Silver has been falling for going on one year, but clearly since March 1. After one last hurrah at the end of March, it has been taking the elevator down. And by its fundamentals it should be quite a bit lower—0.0125. In any case, we are interested in watching what the fundamentals of the metals are doing. We will take a look at the graphs below, but first, the price and ratio charts. Full Story
A few major central banks announced their statements on monetary policy on Thursday. In particular, both the ECB and the BoJ kept their key interest rates and quantitative easing programs unchanged. Hence, the divergence in monetary policies between the Fed and other major central banks remains in place, which provides support for the yellow metal. Full Story
Maybe Trump didn’t realize that all of his supporters actually expected him to deliver on all of his hard-edged statements. Or maybe he was Trojan Trump from the get go, just as I postulated many months ago to the outrage of many of my fellow anti-establishment readers who wanted to believe Trump was their champion. Full Story
Gold slid 1.61% this past week but held up relatively well considering the elections in France and a focus on earnings season. Let’s see if we can break this small downtrend line and move higher now from the $1,260 support area. Silver lost 3.33% and closed below its 100 day moving average which isn’t so hot. I’ve got to see silver move back above $17.40 by Tuesday or we will be looking to $16.75 as the next support area, and below that, $16.25. Full Story
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