The silver market appears ready to blow its top, much like a pressure cooker whose relief valve stopped functioning even as the heat and pressure continued to build. The gold market is also likely to overheat, but at least in gold, its relief valve - the price of gold - appears to be functioning somewhat and has bled off much of the pressure. After all, the price of gold is up substantially on a year-to-date basis and is not that far from all-time highs. While gold looks poised for further gains, perhaps substantial, its price relief valve has allowed much pressure to be released. Full Story
According to public records, Kingold began borrowing using gold as collateral in 2013. The company’s debt continued to climb every year. Eventually, Kingold pledged 2.7 million ounces of gold in total, worth about US$4.8 billion today.
Kingold not only offered the gold as collateral, but even had its gold inspected by government certification offices and insured for US$4.3 billion by a state-owned insurance company.
We are nearing that mid-point in July when I said we would start to see the news turn from euphoria-inducing reopening positives to depression-developing realism.
And, so it has tuned out. The Dow and S&P have stalled at about a 60% retracement of their earlier crash, which is right where I said I thought they would. They stopped rising well below their all-time peaks because the COVIDcrisis raised its ugly head (the one caveat I gave for stocks continuing rise to the moon) very quickly after our nationwide economic reopening … Full Story
Gold has had a great run over the past year. Gold prices have risen in every single currency on earth and in many currencies gold prices are up well over 30 percent from last summer. Full Story
It’s time to leave the cult of fiat currency and instead denominate your savings in something that has no history of loss of value. Yes, the gold price fluctuates, but its value does not. An ounce of gold bought a suit 100 years ago, it will buy a suit today, and it will still buy a suit 100 years from now.
It’s time to denominate a portion of your savings in real money and not in paper currency. It’s time to leave the cult of fiat currency behind, and add some real money to your life. Your future standard of living will thank you. Full Story
And, as stated above, negative real rates are The Key Driver for gold prices. Why? Because you can't eat gold and it doesn't pay interest. Isn't that what all the permabears and fiat shills always say? But if gold's primary competition as a Tier One asset is a U.S. treasury bond—and if that treasury bond now comes with a negative, inflation-adjusted return—then suddenly your non-edible pet rock looks pretty good as a store of value and fiat devaluation hedge. Full Story
There are so many fallacies perpetuated and regurgitated throughout the market, yet there is so little time to appropriately address them all.
Of late, almost all the “analysis” or comments you read or hear is based upon a superficial understanding of the market propagated through “common-speak.” And, that is exactly why they all seem to be so confused.. Full Story
These days opening the morning newspaper or switching on the evening news can be akin to an assault on mind and senses, as the media compete daily to see who will do the best job of ‘shocking and awing’ us. The sensual bombardment has risen to a new level upon the 2020’s visitation of the pandemic – as we all know. Quite often, we let that assault get the better of us – the blood pressure rises and the mood sours. Sandy McHoots, as Wodehouse describes him in the short profile quoted above, harbored a healthy, well-cultivated disdain for that sort of thing. My guess is that McHoots was not just the greatest living exponent of golf, he was also a gold owner. How could it be otherwise?
Though rarely discussed, gold ownership has as much to do with personal philosophy and how we wish to conduct our lives as it does finance and economics. In many ways, it is a rational portfolio decision that suits the times, but it is also a lifestyle decision that provides some peace of mind no matter what happens with the pandemic, the latest mania on Wall Street, or the election-year machinations in Washington D.C. As Richard Russell, the now-deceased editor of the Dow Theory Letters once put it, “I still sleep better at night knowing that I hold some gold. If or when everything else falls apart, gold will still be unquestioned wealth.” Full Story
There is an increasingly good chance that the United States could end up following Europe and Japan, and that the Federal Reserve could use its vast powers of monetary creation to force a move to negative interest rates.
If that deeply unnatural event happens, it will invert and distort the very foundations of investment pricing, in ways that are little understood by most investors today.
It will also - for a time - create an unnatural source of profits that most investors have no idea about, because it has never happened before in the United States (and is still in the early stages in the United Kingdom). Full Story
By: Stewart Thomson, Graceland Updates - 7 July, 2020
Ancient Rome had the denarius, which was diluted into hyperinflationary oblivion. America has the dollar, which is on track to suffer an equally disgusting fate.
Gold is in a spectacular position here, both fundamentally and technically, but ecstatic gold bugs still need to exercise patience.
More new people may have made their first purchase of physical gold or silver in the past 4 months than in any four-month period in history. This sort of data isn’t reported and tracked. But if our experience as one of the nation’s largest precious metals dealers is representative, we believe that’s the case.
We’ve never seen so much retail demand, and a big portion of the buyers are first timers.
With the new wave of people entering the market comes a fundamental question lots of them have before they get started: What do I do with the metal after I buy it? Full Story
Last week we heard the first half of an interview Money Metals president Stefan Gleason did during a recent 360 Gold Summit. Today we’ll hear part two of that interview. Stefan gives some important warnings to gold and silver investors; discusses why he favors one of the precious metals over the others and also talks about some really important things to consider when selecting a precious metals dealer. Don’t miss the eye-opening conclusion of Stefan’s interview, coming up after this week’s market update. Full Story
The entire global financial structure is in the process of faltering, breaking, and crumbling. It is better described as sabotage by the Globalist cabal in league with their fascist partners. As the entire economy fractures, as all debt faces failure, as most assets break down, as countless households struggle, the King Dollar faces a certain sunset, true safe haven will be uniformly sought. Correspondingly, the Gold price is ready to launch onward and upward. It will light the fuse on the Silver price in sequence. Demand will skyrocket, while supply has been limited. Behold the greatest fraud and hoax in the history of mankind behind the corona virus. It is named after the Queen of England, a primary funding partner. She filed a corona virus patent in December 2018, from engineered creation. The COVID-19 entity is far more a fascist project to force political change than actually a virus at all. The disease is a mirage, and exaggerated agent of deep fear and fright. Let it be known that not 5% of the population know what a virus is, how it works, the method to identify, or the best prevention. Ignorance is a great ally to the global cabal. Full Story
I don’t see the US central bank, or any other major Central Bank around the world slowing down the money printing presses.
Nor do I don’t see any developed nation’s central bank have the ability to raise interest rates right now. This type of currency devaluation provides a solid long-term thesis for gold.
I do think gold needs more time to consolidate in this upper range before making a sustainable move higher. Full Story
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