It’s probably the #1 question on every gold investor’s mind right now: Why are gold stocks underperforming gold? Aren’t they supposed to bring us leverage to the gold price? Full Story
By: Peter Schiff, CEO of Euro Pacific Capital - 9 September, 2011
Although it was labeled and hyped as a "jobs plan," the new $447 billion initiative announced last night by President Obama is merely another government stimulus program in disguise. But semantics are of supreme importance in American politics...some could argue that word choice is the only thing that matters. Full Story
By: The Gold Report, Chris Marchese and Jason Burack - 9 September, 2011
The exciting tech sector of yesterday will pale in comparison to the precious metals sector of tomorrow, say Chris Marchese, portfolio strategist with a hedge fund under Vishni Capital, and Jason Burack, independent investor and creator of Wall Street for Main Street. In an exclusive interview with The Gold Report, they share their analysis of one last solid-gold—and silver—investment frontier. Full Story
By: Richard (Rick) Mills, Ahead of the herd - 9 September, 2011
According to the Organization for Economic Co-operation and Development (ODEC) the combined economies of Germany, France and Italy will grow by under one percent this year. OECD forecast the US economy will grow at a 0.4 per cent annualized rate in the fourth quarter, while in Europe, the three largest economies (Germany, France and Italy) will contract by 0.4 percent over the same period. Full Story
By: Daniel Aaronson and Lee Markowitz - 9 September, 2011
From the onset of QE2 in 2010, stocks rose despite a weak economy. Investors believed that stocks would rise either because the economy would improve or because the Federal Reserve would print enough money to ensure that stocks would rise - a classic “Don’t Fight The Fed” situation. Full Story
By: Adam Hamilton, Zeal Intelligence - 9 September, 2011
Early August’s sharp stock-market plunge ignited an explosion of bearish theories. And with the headline stock indexes still grinding along near lows over the month since, fears of a new bear market continue to proliferate today. But interestingly, the fast selling velocity that spooked traders is not characteristic of young bear markets. Instead it is a bull-market-correction phenomenon. Full Story
In a nutshell, this week we decided to provide you with the analysis of the previous bull market in the precious metals. The goal is to see how the current bull market compares with the previous one. After all, since history rhymes, looking at the analogy should provide us with clues as to what can happen next. In particular, we will be able to estimate if we’re currently on a verge of the final parabolic upswing and if this bull market is likely to end soon. Full Story
Crises are Magnifying and Intensifying but are also providing Substantial Profit Opportunities, providing one knows what to focus on, and what to avoid – our dual focus here. Full Story
Given that many know Merk Investments as "euro bulls", arguing that the euro can thrive despite all the turmoil in the Eurozone, we wanted to share with our investors and the public that in our hard currency strategy, currently with over $700 million in assets, we sold over U.S. $90 million worth of euros late Thursday to re-allocate to the Australian dollar. This re-allocation was an acceleration of a recent trend to deploy euro holdings elsewhere. The strategy is now underweight in euros. Full Story
In only two months Gold surged from $1500 to $1900/oz. Over the past few weeks Gold has remained range bound from $1750-$1900. The longer Gold holds this range then the more optimistic we can be. That $400 move was not a parabolic blowoff top but the initiation of an acceleration. Full Story
By: John Downs, Vice President at Euro Pacific Capital - 9 September, 2011
In this system, taxpayers are forced to foot the bill no matter who wins or loses. Imagine if football worked that way. If all points scored always were credited to the away team, would the home team even bother to suit up? The problem with the FHFA lawsuit, like all these Washington games, is that unbeknownst to the spectators, both teams are playing on the same side - and so is the ref. Full Story
If you are interested in currency or precious metals, please enjoy this short educational video about how silver coins are minted. It tours an actual operating mint near Reno, NV and covers the whole process from raw silver to final strike. Full Story
Personal and institutional finance differ in the most important way; personal finance assumes a limited lifespan, whereas institutional finance operates on the framework of a perpetual life. The lifecycle of an individual investor dictates that with each passing year, risk must be taken off the table to create a better trajectory for a coming retirement. Full Story
Millrock Resources Inc. [TSX-V: MRO, USA-PK: MLRKF] is a mineral exploration company that is using the prospector and project generator business model to develop their portfolio of over a dozen highly prospective properties. Millrock specifically targets early stage exploration projects with geological potential to host large bulk tonnage gold-copper deposits in Alaska, and copper porphyry deposits in Arizona. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 8 September, 2011
In the five years from 2003 to 2008 china added 454 tonnes of gold to their reserves. They amassed these reserves in a government agency which handed over the extra tonnage to the People’s Bank of China in 2008. We believe that they continue this policy of using a non-central bank agency to gather gold for their reserves. If they do stick to this policy they should make their next announcement in 2013. The volumes of gold added up to 2008 could be seen as adding 91 tonnes a year since 2003 or, more likely, adding the growing domestic gold production directly to their stockpile. If that is the case then we expect an additional amount of at least 2,000 tonnes to be passed from the gold buying agency to the People’s bank of China. Full Story
While the US markets were closed on Monday in observance of Labor Day, it became grossly apparent that the European debt crisis would be far worse than the American financial crisis of 2008. Full Story
By: Stefan Molyneux and David Galland - 8 September, 2011
Our video host Stefan Molyneux speaks with Casey Research Managing Director David Galland about the debt situation in the US and whether the federal government can do anything about it… assuming they’d even want to. Full Story
It seems that every time gold makes an important high followed by a sudden collapse the comments that the gold bubble has burst dominates the commentaries. The problem with making that comment is that every time following what may be a sharp correction gold has moved on to new highs. Over the past decade no previous year’s low has been broken by any correction, usually a good sign that the market remains in a bull market. And until that occurs, while the bubble people may ultimately be right, gold can go a lot higher before the final peak is seen. Full Story
There are many reasons why pension fund managers, private investors and even governments are beginning to add bullion to their portfolios. Perhaps the most important reason for this shift is that bullion provides superior insurance in times of financial uncertainty such as we are facing today. Full Story
By: Dr. Stephen Leeb & Chris Waltzek - 8 September, 2011
My featured guest today says that the nation is facing the greatest economic peril in decades, perhaps rivaling even The Great Depression. Dr. Stephen Leeb has over 25 years of investment experience, ranging from growth stocks to commodities and precious metals. He’s the author of several best selling books, including his latest, Red Alert. That’s also a best seller on Amazon.com. Welcome back, Dr. Leeb. Full Story
In a previous White Paper titled "U.S. Investors Overexposed to U.S. Dollar Risk?," we discussed the aggregate level of U.S. dollar risk inherent in U.S. investors’ assets. This research report takes the analysis further. The aim of this paper is to analyze in greater detail the potential actions investors may take, not only to address concerns surrounding further deterioration of the U.S. dollar, but to diversify currency holdings in general. Full Story
By: Dominique de Kevelioc de Bailleul - 8 September, 2011
As a growing sense of a world about to turn upside down at any minute—and pretty hard, too—one has to wonder if much of the extreme political, social and economic events coming at us all at once from across the globe tie to the natural forces of a world desperately disentangling itself from the gross unfairness of a global economic model, its political systems contrived to enforce it, and the side-effects of its once-willing participants seeking justice through the use of a new model now that the old one no longer works from them. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 7 September, 2011
Just when you start thinking that everything is futile, that everyone connected with the markets is bought off or stupid, and that "Say Not the Struggle Naught Availeth" is getting old, we find out that we're being watched -- and not just by the usual peeping Toms and repo men but by some pretty important and even sinister people. Full Story
Whenever it suits Team Titanic from the increasingly tense helm, more phony comparisons are trotted out in baseless news stories posing as legitimate analysis. The latest propaganda plank is that the current financial climate, worse by the week, resembles 2008 and therefore bodes badly for the Gold & Silver prices. The implicit inference has no basis. In the final months of that fateful 2008 year, when Lehman Brothers served as the flagship going down in icy waters, writing the epitaph that marked the historic death event for the US banking industry, not yet recognized, the precious metal price fell by a huge amount in a liquidity drain amidst a grand crisis. While the current climate does resemble that fateful cardiac arrest and death event, followed by the coroner being paid off to falsify the death certificate (see the FASB accounting rules change enacted in law April 2009), the differences are so profound as to warrant a better description. Full Story
By: The Gold Report and Mickey Fulp - 7 September, 2011
With the patience of a good contrarian, Mercenary Geologist Mickey Fulp has spent the last couple of months watching for buying opportunities among fundamentally strong micro caps that have drifted down during the summer doldrums. Noting that precious metals have been on an almost unprecedented run, in this exclusive Gold Report interview, Mickey said that he expects a lot of the patient money sitting on the sidelines to get itchy soon, resulting in a rebound in junior resource equities that he hopes will mimic the sector's post Labor Day rally last year. Full Story
By: Doug Hornig, Casey Research - 7 September, 2011
I’ve used the term outrage fatigue on numerous occasions in this forum as a way of trying to explain why there has been such a muted outcry from the general population as the tally of financial atrocities committed against American citizens has exploded. Full Story
I've been asked to comment on the work of a few noted deflationists who are calling for a top in commodity prices here. Their argument is pretty clear cut: Because inflation is a function of available money plus credit (their definition), and because credit has fallen, deflation is what comes next. When looking about for things to deflate in price, commodities are an obvious candidate for attention because they have risen so much over the past decade. Full Story
According to the World Gold Council – the overall level of global mine production is relatively stable. Supply has averaged approximately 2,497 tonnes per year over the last several years. 2500 tonnes is equal to 80.4 million troy ozs. Full Story
Just a few days ago, the Swiss National Bank effectively abandoned the floating exchange rate of the franc by imposing a lower limit of 1.20 on the EUR/CHF exchange rate. This means that the SNB will try to buy so much foreign currencies to bring the rate above that level. The immediate result was the rally of the euro, a rally that was also visible in the EUR/USD currency pair. Full Story
The world's second-most famous beard in economics today – arch-Keynesian, stimulator extraordinaire, Nobel-winner Paul Krugman of Princeton – says he's squared the fact of rising gold prices with his view that we're in economic deflation. Indeed, Professor Krugman's apparently been awake all night worrying about gold prices. You might hope all economists and columnists who insist on writing gold off would do the same. Otherwise, their model of how things work might be revealed as a sham, a fraud at best, and you're left wondering how they get any sleep at night at all. Full Story
By: Bob Chapman, The International Forecaster - 7 September, 2011
August was sure a barnburner and we believe that was a prelude for an even wilder September. How often do you see gold fall $200.00 in 3 days and recover $187 in 6 days? In our 53 years of involvement in this sector we have never seen anything like this. This shows you what government manipulation is all about. Get used to it, this is what living in a corporatist fascist society is all about. Full Story
Since the Fall of 2008, Ben Bernanke and his co-pilots at the Federal Reserve have loaded around $1.8 trillion of paper money, or its electronic equivalent, on helicopters, dirigibles and whatever other flying machines they could find. Yet despite all the monetary aviation, very few pieces of the funny green paper called Federal Reserve Notes have fluttered to the ground. Full Story
By: Jeff Berwick, The Dollar Vigilante - 7 September, 2011
These are grand times to be dollar vigilantes. The whole premise of being a dollar vigilante is the acknowledgement that the entire global financial system is an artificial and oppressive system that is nearing the end of its road (and purchasing hard assets and internationalizing our assets to protect ourselves). Full Story
My long-time friend and mentor Seymour Schulich forwarded an email to me that puts today’s U.S. government debt mountain startlingly into context. By removing several zeros, one can place the debt situation in terms we all can understand—that of a family’s income and expenses. Full Story
Gold is trading above $1900/oz once again, pushed up by continuing financial turmoil in the Eurozone, weak US economic data and strong words from a voting member of the FOMC who reiterated his conviction that the Fed should continue its large scale monetary stimulus policies. Full Story
By: Dominique de Kevelioc de Bailleul - 6 September, 2011
With an avalanche of ever-tantalizing news stories and upcoming nail-biting scheduled officialdom events in both Europe and the U.S. all hitting the gold market at once in September, discerning the story that could propel some distance from Jim Sinclair’s exosphere target of $1,764 in the gold price weighs heavily in favor of the WikiLeaks story and its potential explosive impact on the price of gold from today's $1,900 print to Sinclair’s ultimate target of $12,000+. Full Story
Last night the gold punisher officially destroyed the latest and crew of gold top callers and dollar bugs. Click here now to view their financial carcass. Thank-you. After ripping down the dollar bugs’ door at $1900, gold roared to a new all-time high at about $1920 last night, before going on a huge $75 night time sale for you, but only briefly, for those with powerful alarm clocks. Full Story
I know I have been on a one-track mission recently about the extraordinary development of the COMEX gold commercials miscalculating in establishing their giant short position. I know I have been virtually alone in depicting the resultant commercial short covering as being the prime price driver behind gold’s $300 run from $1600 in early August. But government data still suggest that the unprecedented commercial blunder is very much at the core for explaining the volatile price action we are witnessing. Today, I would like to explore what this means for the future, even though I am on record as warning that the correct explanation for something that has occurred can be different from accurately predicting what may happen next. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 6 September, 2011
More news media-monitoring cables from the U.S. Embassy in Beijing to the State Department in Washington show that both China's government and the nation's financial press, tightly controlled by the government, consider gold to be the main weapon in a world currency war that is under way. Full Story
Share investing can be a minefield at times, currently this appears to be an understatement yet our educational fund is up over 23.6% in 7 months just from investing in and trading stocks. These were larger stocks not super high risk juniors that got lucky. Over the course of over 30 years investing in stocks I have made all of the mistakes, even discovered a few new ones I am sure. Full Story
Just weeks after a dramatic $200 correction the gold price surged past $1,921 today to a new all-time high, and speaking to Bloomberg from his home in Chang Mai in Thailand legendary investor Dr. Marc Faber said gold is not in a bubble just yet. Full Story
A cup and handle pattern is a bullish continuation pattern that represents a period of consolidation followed by an eventual breakout, which is the continuation of the previous trend. Typically these patterns last months and not weeks or days. Cup and handle patterns also entail precise price targets. To find the price target, one measures the distance from the top to the bottom of the cup and then adds the distance to the top of the cup. In some cases analysts can use a logarithmic scale though its best to use a arithmetic scale. Full Story
By: Rick Ackerman and Doug Behnfield - 6 September, 2011
It was nearly a year ago that our good friend Doug Behnfield, a financial advisor based in Boulder, Colorado, lucidly described here how America was headed into an economic coma that would last for many years. With the financial phase of the crisis winding down, says Doug, we are about to enter a prolonged period of asset deflation, high joblessness and stagnant-to-negative GDP growth. A chief cause of this will be by-now-unavoidable, drastic cutbacks baby boomers must make in their retirement plans. Full Story
By: Bill Murphy, Le Metropole Cafe, Inc. - 5 September, 2011
So much that can be covered here, but first and foremost, GATA’s credibility and proof of our understanding of the real gold market (one not reported on by the mainstream gold world, Planet Wall Street, and the financial media) just took another giant leap forward. We have been all over the Chinese buying gold story for MANY years, having reported them buying secretly via intermediaries from our STALKER source. Full Story
By: Chris Powell, Gold Anti-Trust Action Committee Inc. - 5 September, 2011
"According to China's National Foreign Exchanges Administration, China's gold reserves have recently increased. Currently, the majority of its gold reserves have been located in the United States and European countries. The U.S. and Europe have always suppressed the rising price of gold. They intend to weaken gold's function as an international reserve currency. They don't want to see other countries turning to gold reserves instead of the U.S. dollar or euro. Therefore, suppressing the price of gold is very beneficial for the U.S. in maintaining the U.S. dollar's role as the international reserve currency. China's increased gold reserves will thus act as a model and lead other countries toward reserving more gold. Large gold reserves are also beneficial in promoting the internationalization of the renminbi." Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 5 September, 2011
Venezuelan gold mining companies had until recently been forced to sell 50% their gold production to the government for their reserves. This was increased last month to 100%. It accompanied President Chavez’s nationalization of the mining industry. This lays the country open to the seizure of foreign-based assets belonging to Venezuela, including all its gold. To guard against this Chavez has ordered that all the country’s gold held in foreign vaults be repatriated back to the country. Full Story
- Headline news & the Market Weatherman Report. - Spotlight Stock Picks. - Host Chris Waltzek & Bob Chapman, The International Forecaster discussion and answer listener's questions. Full Story
Gold has been rocketing up to, and through, the price levels that we laid out many months ago (although a couple of months later than we had expected). This is the equivalent move for Gold that we have recently seen Silver making. As Gold starts to rise more parabolic on the log chart, it creates a very important consequence for the Precious Metals (PM) stock indices since they are heavily weighted in Gold Producers. Suddenly, the price of Gold is rocketing up through, and above, the mining costs of the Gold Producers and triggering heavy leverage for the earnings of those Gold Miners. Full Story
By: Bob Chapman, The International Forecaster - 5 September, 2011
We find it amusing that Mr. Bernanke in his press conference after the FOMC last week said, US bank exposure to Greece was minimal. We guess he forgot part of that $16.1 trillion and the credit default swaps from NYC banks to the tune of $150 billion. In addition we do not see the US and England escaping the fallout from Europe. From the very beginning 1-1/2 years ago we told Greece to default and that it was inevitable. Of course, the Greek government did not do that, because they wanted to hand their Illuminist friends Greek assets on a silver platter - that is public and private assets. Full Story
By: John Mauldin, Millennium Wave Advisors - 5 September, 2011
This week we briefly look at yesterday morning’s dismal unemployment report, then drop back and survey some other very eye-opening data on employment. Some groups are (surprise) doing better than others. What would it take to get us back to “normal,” whatever that is? I give you a link to some webinars I will be involved in and finish with the answer to the question I am asked most often, “What do you think about gold?” I tell all. There are lots of topics to cover, so let’s get started with no “but firsts.” Full Story
The phrase "sovereign debt" has become popular. I used Google to search for "sovereign debt" and got over six million hits. Yet I cannot recall hearing the phrase as recently as 2007. If I ever did hear it, I did not pay attention to it. It was called "government debt" back then. Full Story
By: Robert Kiyosaki & Chris Waltzek - 5 September, 2011
Let’s begin with gold. You know, 11 years after the bull market began, people are only now beginning to wake up to the explosive investment potential. You’ve been a big fan of the yellow metal now for at least 40 years. Tell folks what you turned you on to gold. Full Story
The latest issue of the extremely popular magazine The Economist drums up a long-list of unlikely recession indicators. But the most curious was a correlation between searches on Google for the gold price and past recessions. Full Story
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