Despite having a rough summer, with a number of factors pushing gold below $1,200 an ounce (the high dollar, US economic growth, interest rate hikes, booming stock markets), the precious metal appears to be back in favor, with December gold futures closing Tuesday’s trading at $1,207 an ounce - a two-week high. Full Story
The battered gold miners’ stocks are finally starting to recover after a rough few months. Their prices slid with gold in July, plummeted in a brutal forced capitulation in August, and then dropped again in an echo capitulation into mid-September. That left them at fundamentally-absurd price levels wildly disconnected from their actual profitability, leaving this sector with big mean-reversion upside ahead as it bounces back. Full Story
Bill Murphy of GATA.org rejoins the show with encouragement for PMs bulls. Gold miners just found a 90 kg $15 million "mother lode" gold nugget in Western Australia after only 4 days of work. Both Bill Murphy and co-guest Michael Pento agree that gold will soon ascend beyond $2,000 creating vast fortunes. Full Story
An enormous “sword of Damocles” hangs over all markets now. A massive liquidity drain is underway as global QE reverses into QT and rates rise against the background of immense ubiquitous crippling debt burdens. What this means is that the biggest credit crunch of all time is bearing down on us, which will involve markets crashing in the absence of bids, serious dislocation of capital markets and out of control interest rates. Full Story
Savvy Investors know that there are several Key Market and Economic Realities which are NOT reported on by the Mainstream Financial Media, usually because of the Economic Interests of Media Owners and Allies — Key Power Centers of the “Deep State”. Full Story
This past week, we saw that the Bank of Nova Scotia was charged by the Commodity Futures Trading Commission with multiple acts of spoofing in gold and silver futures between June 2013 and June 2016. Traders placed orders to buy or sell precious metals futures contracts with the intent to cancel the orders before execution, the CFTC said. Full Story
U.S. officials were infuriated last week when Germany, the UK, and France unveiled plans to create a European payments channel to help Iran to avoid U.S. sanctions. Even more surprising was their chosen allies: in announcing their sanctions busting plan, the Europeans were joined by Russia and China. Full Story
“Mr. Gold, you have disappointed us! But, really, you dropped almost four percent in the third quarter of this year.” This is what many analysts could say. But we warned our Readers against being bullish in the current macroeconomic environment. We invite you to read our today’s article about the gold market in Q3 2018 and find out what happened – and what are the implications for the end of the year. Full Story
It has been a long while since the last Amigos update because frankly if the characters, images and shticks I invent to portray market status begin to wear on me sometimes I have to believe they may do the same to you. Consider that the 3 Amigos, SPX/Gold Ratio, Long-term Yields and the Yield Curve are slow movers that we usually view from monthly chart perspectives and well, sometimes you need to take a break and just let them do their thing over time. Full Story
Gold was higher in yesterday’s day session and we reached a nice high of 1212.30. In the overnight session we moved sideways and are currently at about the 1206.00 level. We are working on the assumption that all of wave .ii. is complete at the 1167.10 low. If that is the case then we have labeled our first impulsive sequence out of the wave ii low as wave $i$, which would have ended at the 1220.70. Full Story
What does it all imply for the gold market? Well, the Italy’s irresponsible fiscal policy put the country in breach of the EU rules and risks another crisis in the eurozone, including potentially the breakdown of the common currency area. However, we are not here yet. The Italian tensions have had limited spillovers to other countries so far (just look for instance at the Spanish yields). And the Italian press reported yesterday that the government is planning to lower its deficit in 2020 and 2021. Full Story
Recently, I read an article which stated that quantitative tightening is the “death knell” to the stock market. Can this be true? So, allow me to show you why this is just another market fallacy which has been propagated by market analysts and the general media, and then regurgitated from one investor to another until it has risen to the point of “fact.” However, at the end of the day, this too is simply “fake news.” Full Story
This morning’s jobs report was stronger than expected, which – combined with Amazon’s dramatic increase in its minimum wage to $15/hr — implies rising wages going forward. The bond market reacted as you’d expect to the prospect of higher wage inflation, with the yield on 10-year Treasuries hitting its highest level in five years. Full Story
Michael Pento, President and Founder of Pento Portfolio Strategies LLC. returns to Goldseek.com Radio with his latest economic insights. While most analysts are oblivious to the current financial risks, Michael Pento says the next crisis is already underway. Global central bank QE operations will turn negative for the first time since the Great Recession 10 years ago, in 2019 (black line in graph) (figure 1.1.). Full Story
The precious metals sector is on a long-term sell signal, which is suitable for trading and not for long-term holding. Short term is on buy signals. The cycle is up. A potential bottoming pattern is in progress. Full Story
Why is it that Italy causes such a stir in financial markets when proposing a budget? Is it politics or is the stability of the financial system at stake? In our assessment, the best way to avert a crisis is to allow market forces to play out. Let me explain. Full Story
You have a headache. Treat with Advil. Well… maybe. The headache is the symptom. The cause might be tight neck muscles, brain tumor or something else. Advil relieves pain and diminishes inflammation, but it won’t fix a brain tumor and will do little to loosen neck muscles. Advil might address symptoms but not treat the cause of the headache. Full Story
Summing up, the seemingly bullish implications of the analysis of the inverse head-and-shoulders pattern in mining stocks are too weak to change the overall outlook, especially in light of the new confirmation that we saw from the SLV ETF and its volume. The analogy to 2013 remains in place and the outlook remains strongly bearish. Full Story
In a few previous blog posts (for example, HERE) I discussed the limitations of sentiment as a market timing tool. It certainly can be helpful to track the public’s sentiment and use it as a contrary indicator, and some of my most successful trades have been partly based on sentiment extremes. However, these days I place less weight on sentiment than I did in the past. Full Story
Today’s contribution in our ongoing series on commodities prices and economic metrics is a study of the relationship between the price of gold and the TSX Venture Exchange (TSXV). The TSXV is the world’s foremost venture capital marketplace for emerging nanocap companies. Our analysis begins with its inception in late 2001. Full Story
However, ALL lies and frauds eventually collapse, and the multi-trillion dollar fractional reserve precious metal pricing scheme is no different. Once the depth of the lawlessness from forty-five years of central bank and bullion bank alchemy is finally revealed, your only protection from what will follow will be the PHYSICAL gold and silver you personally own and store. Full Story
Inflation enthusiasts should consider adding some silver bullion to their investing “repertoire”. On this gold versus silver ratio chart the 75 area and higher has been a great place to sell gold and buy silver and the 50 area has been an equally great time to sell silver and buy gold. Significant wealth can be accumulated with this strategy. What’s particularly exciting now is that some major bank analysts are recommending this trade. Full Story
Not that anyone but the tireless researcher of silver market rigging, Ted Butler, will catch the significance of the dates in yesterday's announcement from the CFTC, but the regulatory agency closed without result its long-running investigation of silver market rigging in September 2013. That is, the CFTC closed its investigation of silver market rigging three months after the Bank of Nova Scotia's rigging of gold and silver futures began. Full Story
The evidence continues to mount proving the work that GATA has performed for the past two decades is, not only 100% accurate, but shows how much a part of world gold actually plays. Don’t think for a minute that gold is not part of our monetary system. If it weren’t these price rigging schemes would not happen – especially on a global basis. Full Story
Demand for the U.S. Mint Silver Eagles spiked again at the end of the September pushing sales nearly to three million. In a little more than a week, Silver Eagle sales jumped from 1.9 million to 2.9 million, nearly doubling from the previous month. Sales of Silver Eagles in August were only 1.5 million versus 2.9 million in September. Full Story
That gold’s not trading below $1,150 is, I believe, remarkable. There’s a lot motivating the bears right now. Besides a stronger dollar and higher interest rate, stocks are still going strong, buoyed by record buybacks and massive inflows into passive investment products. In the week ended September 20, investors poured as much as $34.3 billion into ETFs, taking year-to-date inflows to nearly $215 billion, according to FactSet data. Full Story
The idea that as more people move to Hurricane Alley and other storm-prone places, the future cost of those storms will rise – and that we’re not accounting for that future cost and are therefore likely to be shocked by it – makes intuitive sense. Full Story
Such a hawkish stance is bearish for the gold prices in the medium term. The yellow metal could, thus, remain under downward pressure. As one can see in the chart below, gold can’t return above $1,200. Full Story
At this point, the must-hold immediate trending support is relocated at 2915 given the Sunday night acceleration and momentum. That means that if price gets below 2915, then the immediate bull train becomes at risk of a derailment like the final two days of September where we went to neutral mode given what transpired. Full Story
Founder of the Trends Research Institute, Gerald Celente returns with essential insights for savvy investors. The Global-nomic models indicate the 10 year bull stampede in US shares could end soon. According to Mr. Armstrong, "Tangible assets survive," when paper assets evaporate, making collectible items and PMs invaluable during financial crises. Last week, Dr. Copper blasted higher by 8%; the semiprecious metal is used extensively in a broad array of industrial products such as electronics. From a financial standpoint, copper is often viewed as a key barometer of global economic output, the backbone of the technology sector. Full Story
The window of opportunity to change course for humanity is all but closed. There’s simply no more time to hope that somehow, magically, the world's entire energy complex will suddenly evolve to a bountiful and sustainable new plane -- whether by market forces, by maverick billionaires like Elon Musk, or by happy accident. Full Story
Intimate but not fully understood relationships between major gold mining companies, on one hand, and governments and central banks on the other might explain the indifference of the World Gold Council to the longstanding policy of gold price suppression by major governments and central banks. That is, what if the gold council is really representing not gold investors but certain governments in their objective of minimizing gold's traditional monetary functions? Full Story
While bigwigs from Franco-Nevada's Pierre Lassonde to crypto-anarchist Doug Casey insist that central banks don't care about gold, the World Gold Council still is planning to invite central bankers and finance ministry and sovereign wealth fund officials to another "executive program in gold reserve management" The program will be held from November 26 to 28 in Singapore, and unless you're connected to a government, you're not invited. Full Story
The best performing metal this week was silver, up 2.89 percent as traders loaded up on almost 10 million ounces in a span of one minute on Friday. Gold traders and analysts are bullish on the yellow metal for a sixth straight week, as measured by Bloomberg’s weekly survey, even as gold heads for its sixth month of losses. Full Story
Rallying mining stocks? Forget about them. Silver is the new cool kid in the neighborhood. Having rallied by almost 50 cents in just one day, silver stole the spotlight and seems to be ready to move much higher… Or much lower. Does anyone still fall for silver’s fake rallies? Based on the size of the rally and the corresponding volume, it certainly seems to be the case. Full Story
Sometimes, one just needs to look in the right place. And often in those cases, it just takes a conversation to alert one where to look. We had a call with a Swiss company this week, to discuss gold financing for their business. They reminded us that there is a negative interest rate on Swiss francs. And then they said that a swap of francs for gold has a cost. That is, the CHF GOFO rate is negative (the dollar based 12-month MM GOFO™ is +2.4%). Full Story
It’s October. It’s scary. Yes, Halloween happens on October 31 every year. It is the time of haunted mansions, black cats, and Michael Myers. It is also the month of stock market crashes. If you have been around long enough, you may have even experienced one of them. And they have dark names—Black Tuesday and Black Thursday in October 1929 live on in infamy. Then there was Black Monday October 1987. And for good measure there was the Panic of 1907, October 1907. But there were also lesser known ones like the 554-point drop in October 1997 and the back-to-back October massacres in 1978 and 1979. There was also Friday the 13th in October 1989. Full Story
I’ve noted before that gold tends to move in a distinct ABCD pattern. The A-wave is an aggressive rally out of a major corrective bottom. The B-wave is some form of correction that clears the bullish sentiment produced during the explosive A-wave advance. (B-waves can be rather complex and exhausting). The C-wave is where the gains are made. Then finally the D-wave decline as the C-wave tops and a major correction begins. I’ve shown an example in the next chart of this 4-wave pattern. Full Story
I will never compare myself to Bill Buckley, as a writer or anything else. He was one-of-a-kind and a personal hero who I am disappointed to say I never met but who I read a lot. The response to my recent tariff comments gives me a small hint of how it must have felt to “stand athwart history” and launch the modern conservative movement. Many of you support the tariffs. And I understand your reasons. I really do. Full Story
When Italy elected a bunch of rowdy populists back in March, the rest of the eurozone assumed (or at least hoped) that the weight of responsibility would bring Rome back into line. But so far the Italians appear to be serious about ending austerity and forcing the ECB to finance their spending ambitions. The just-passed Italian budget calls for a rising deficit, in direct disobedience of Continental (read German) authorities. Full Story
According to the EIA, the U.S. Energy Information Agency, total U.S. solar power generation in 2017 was 0.77 Quadrillion BTU’s versus 29.5 Quad BTU’s consumed by the entire domestic transportation sector… cars, buses, trucks, and trains. To give you an idea of how much 1 Quad BTU equals, it represents the energy in 170 million barrels of oil. Thus, the U.S. transportation sector consumes 29.5 times that amount or roughly 5 billion barrels of oil per year. Full Story
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