Double tops or double bottoms often indicate an important change in price trends. In the case of a double top, it shows a price level at which much selling is generated. The buyers on the other hand are exhausted, and cannot generate sufficient buying pressure to move the price higher. Thus, the path of least resistance is downward. Full Story
By: Adam Hamilton, Zeal Intelligence - 11 March, 2016
With gold miners’ stock prices surging dramatically this year, investors’ attention is starting to return to the gold juniors. These smaller miners and explorers suffered terribly in recent years, all but abandoned as gold slumped to major secular lows. But even during gold’s darkest quarter, the fundamentals of the juniors actually mining gold remained quite strong. This portends explosive profits growth as gold recovers. Full Story
Central bankers have been on a massive Gold Buying Spree led by Russia and China. One must remember that not only is Putin ex-KGB, but he is also an economist and holds a black belt in judo. Judo teaches you to use your opponent’s momentum to defeat him or her, and that appears to what Putin is doing. He has this administration running circles, by the time they figure out what he is up to, it is too late to do anything. Full Story
I will not be voting to put you in power over my life. I will be voting to free you of the power of others who occupy a political office. I will be voting to put you in charge of your own life through your own initiative and cooperation with others. I have great confidence in you, not necessarily from what I’ve seen but because I know how resourceful you can be when the situation calls for it. Full Story
One is the star of the year so far, grinding higher in what could be the launch phase of a new bull market as confidence wanes in the face of NIRP and other desperate global policy actions, and the realization that this disgraceful policy designed to spur speculation and asset price appreciation is all policy makers have got left in their bags of tricks. The endgame is a bag with a hole in it; a monetary black hole. Full Story
First it was the Fed, then it was the Bank of Japan, now the ECB (and maybe even China). Mario Draghi finally let loose this morning with everything left in his monetary "bazooka" and gone as far as the Bundesbank will let him. He also has to face the BIS restrictions in the next three weeks which are far from certain to be in favor of his actions. Full Story
The London Gold Market is a part of the London Bullion Market, which is a wholesale over-the-counter market for the trading gold and silver, coordinated by the London Bullion Market Association. It is the wholesale market – the usual minimum size of transaction is 2,000 ounces of gold (while the standard size is 5,000 ounces) – individual investors are practically excluded from the market. Full Story
Chris welcomes Dr. Martenson from PeakProsperity.com - the co-author of Prosper! is watching the crude oil market for signs of a double bottom pattern. Gold is higher by about 15% so far this year and remains strong, rebounding sharply from oversold conditions. Gold fundamentals continue to impress - last week, Blackrock halted issuance of new gold ETF iShares $7.7 billion, due in part to insatiable demand. Gold is best positioned to benefit from a major paper money zenith - global monetary policies virtually guarantee success. Full Story
One thing a central banker should do is keep pressure on markets by implying there's always more ammunition left to influence things. You don't say anything at a major event you haven't thought out carefully as the world of currency traders is hanging on every word as are the algos that high frequency traders use. One he said this, the market turned on a dime and began a relentless rally, culminating in a rally of nearly 400 points from the break low until he blundered. Full Story
The Fed is cornered. If core inflation continues to rise the Fed will be forced to raise rates, kicking off another market meltdown. In 1937 when the Fed hiked rates during a weak economy, stocks plunged 40% in the following 12 months. Full Story
Levitate the bond market. See chart below. Keep those interest rates dropping so the bond market continues its 35 year climb. Oops – $7 Trillion in bonds with negative interest rates, at last count, with more from Japan this week. Have we reached a limit? Probably not, but what could go wrong lending money to insolvent governments who guarantee they will return less than they borrowed in 10 years? Full Story
Canada, bucking an international trend that has seen central banks become net buyers of gold since 2010, has sold off all its official gold holdings. Canada’s official international reserves last released by the Bank of Canada (BofC) on February 23, 2016 showed gold reserves at zero (0). This is unprecedented. Canada now stands as the only G7 nation that does not hold at least 100 tonnes of gold in its official reserves. According to statistics from the World Gold Council (WGC), Canada’s current holdings would now rank it dead last out of 100 central banks, behind Albania at number 99. A footnote says that the BofC still holds 77 ounces of gold, primarily in gold coins. Full Story
Gold has closed above $1230 and indicating that a bottom is in or that one is close at hand. The trend has turned neutral from negative thus giving Gold a much-needed boost to potentially test the $1350 ranges. India however, dealt the gold markets a negative blow by maintain the tax on Gold and suggesting that they would increase it slightly. Full Story
It’s been awhile since we last looked at the US dollar which has been consolidating its big impulse move up. The reason I haven’t posted it much is because it’s stuck in a sideways trading range going back over a year now. 99.9% of Market participants are either Bullish the Dollar , with all the implications including Lower Gold Prices or Bearish the Dollar, with the opposite implications. Full Story
By: Steve St. Angelo, SRSrocco Report - 10 March, 2016
The largest primary silver mine in the world saw its average yield fall to the lowest level ever in 2015. Matter-a-fact, the primary silver mine’s yield fell nearly 16% compared to last year. This is a substantial decline in productivity from the world’s largest mine in Mexico that starting production in 1824. Full Story
My hedges are all getting blown to smithereens with the miniscule damage to my net worth being vastly outdone by the gargantuan damage to my ego as the power of the physical market is beating on the Commercials like rented mules and rag-dolling gold bears like common farm animals. The CNBC crowd are all taking complete ownership of the "gold trade" and everyone here in Toronto is scrambling for last-minute hotel rooms for PDAC inclusion. Full Story
By: Steve Saville, The Speculative Investor - 10 March, 2016
Brazil’s experience over the past 10 years is another in a long line of real-world demonstrations of Austrian Business Cycle Theory. Rapid monetary inflation and the lowering of interest rates results in an artificial boom, during which the GDP numbers look good at the same time as wealth-destroying investing mistakes are being made on a grand scale. The boom sets the stage for a bust, which wipes out all of the preceding gains and then some. Full Story
I know the above is not groundbreaking news to many of you but it needs to be reminded once in a while. The exit door for the massive paper credit buildup is small and getting smaller as liquidity shrinks and leverage grows. The entrance door for real gold and silver may not even exist once people understand they are the very core to the strong dollar fraud. You see, "liquidity" has a direct effect on how functional any door is whether it be an exit or entrance. Not enough shrinks the exit, too much closes the entrance! Full Story
So far all we've seen is a gold rally turn into an "official" bull market by virtue of prices advancing 20%. It's an encouraging sign of strength; but it's not in itself confirmation of a larger trend in force. A major bull market is characterized by a series of higher highs and higher lows over a period of months to years. Full Story
The Silver Investor David Morgan and the host discuss the best annual start in the PMs sector in 35 years, according to The Economist magazine. Our guest expects the short covering bonanza to continue for a month or two as retail investors regain confidence and push their chips back into the market. His work indicates a new bull market is underway - however, additional gains could be tame as investors slowly accumulate new long positions. Full Story
How egregious is the gold Cartel getting, in its final “death throe” stage? Well, here’s the chart I posted yesterday, of the essentially “sixth sigma” similarity between “trading” Sunday and Monday night, as well as Monday and Tuesday morning. Everyone could tell this paper market was rigged with identical algorithms. Full Story
For those that have been following us for some time, you may remember that, even before we bottomed, I have been looking for a 5 wave rally off the lows in the metals complex to take us to the 21-23 region in the GDX, the 122-125 region in the GLD and the 19-21 region in silver. As of Friday, we have reached our minimum targets in the GDX and GLD, but silver has seriously lagged. Full Story
By: Justin Spittler and Brian Hunt - 9 March, 2016
The largest underground currency market in history...how to make huge investment gains from negative interest rates...none dare call it a tax. Full Story
By: Peter Schiff, CEO of Euro Pacific Capital - 8 March, 2016
In his seventh, and final, State of the Union address this January, President Obama, clearly looking to bolster his legacy as the president who vanquished the Great Recession, boldly asserted that "Anyone claiming that America's economy is in decline is peddling fiction." Unfortunately for the President, more and more Americans seem to believe (with an adequate basis in proof) that the fiction is emanating from the White House. Full Story
Basically, here's what you need to understand. The only "price" that is discovered on the Comex paper derivative exchange is the price/value of the paper derivatives, themselves. The price discovered is definitely NOT the price of gold. Whenever prices rise, it's due to a surge in speculator interest in the paper derivative contracts. Prices fall when speculators exit this paper market and move on. To meet this surging demand for the underlying paper derivative, the Bullion Banks that are allowed to operate as de facto "market makers" create and issue new paper gold contracts from thin air. Full Story
Put simply, the inflation genie is out of the bottle. Core inflation is already moving higher at a time when prices of most basic goods are at 19-year lows. Any move higher in Oil and other commodities will only PUSH core inflation higher. The Fed is cornered. Inflation is back. And Gold and Gold-related investments will be exploding higher in the coming weeks. Full Story
What will happen if one of these the hedge funds decide to stand for delivery? If just 50% of the hedge funds stand for delivery. While it’s true that in any given delivery period that, at most, 1% of the long open interest stands for delivery, the laws of probability suggest that one of these days a significant portion of the longs will decide to take delivery. This will bust the Comex. Full Story
The broad equities market has gotten a respite from the selling pressure which plagued it for the last few months. Some of this can be attributed to the Kress cycle “echoes” which we reviewed earlier this year. The echoes, which are based on the 6-year, 10-year, and 30-year cycles, suggested that stocks could experience a rally in the March-April time frame based on past rhythms. To date that expectation has materialized as traders cover short positions that were built up to excessive proportions in prior months. Full Story
The gold price action continues to look spectacular, as the rally gains both technical and fundamental momentum. Please click here now. Double-click to enlarge this beautiful daily gold chart. Gold has staged a majestic upside breakout, as I predicted it would, from an important symmetrical triangle pattern. The upside fun continues this morning, with the world’s ultimate asset rising overnight again, in solid Asian trading. Full Story
The rise of silver and the collapse of the monetary system is inescapably linked, since the monetary system is built upon the suppression of silver. Collapse by definition suggests: to break or fall suddenly. This is exactly what will happen to the international monetary system, very soon. Full Story
In this business we spend a lot of time thinking about problems. What if we could wave a magic wand and make them all go away? Maybe we can. The wand isn’t made from wood. You don’t need Latin phrases or a special incantation learned at Hogwarts to make it work, either. It’s a simple six-letter word: growth. Get the economy growing at a decent pace again, and most of our problems will get better. Full Story
Is gold better than cash? Donald Trump accepted three bars of it as a security deposit when a new tenant moved into his 40 Wall Street property in New York’s financial district. Michael Haynes, chief executive of APMEX, the tenant, convinced the real estate mogul that accepting gold offered the greatest security for him. “I figured, Trump is a smart guy, and he’ll realize that taking gold is a better idea than taking cash.” Full Story
The yellow metal is 2016’s best-performing asset class so far, having climbed more than 19 percent. It just had its strongest February since 1975. What’s more, gold appears as though it’s back in a bull market, often defined as a 20 percent gain from a recent trough. Short-term, though, it’s way overbought, so a correction at this point would be healthy. Full Story
Because of the structure of the Chinese gold market the volume of physical gold withdrawn from the vaults of the SGE provides us a unique measure of Chinese wholesale gold demand – which in recent years has been more than twice as much as Chinese consumer gold demand reported by the World Gold Council. However, it appeared the SGE ceased publishing SGE withdraw numbers after a press release from 11 January 2016 that stated the bourse “adjusted some terms in the Delivery Reports”. Full Story
Despite gold’s historical role as money, the contemporary gold market is rather young. Until March 15, 1968, when a two-tier market for gold was established, the price of gold was maintained at a predetermined level (or rather, national currencies were defined as unit weights of gold). From that time, the market forces shaped the price of gold. Full Story
The quickening has begun in earnest. The end game might have begun in November with events picking up speed, remedy engaged in progressive steps, and geopolitical balance of power shifting in serious manner. The following are major events and factors in the Global Currency RESET in progress. The sequence of future events might become frightening, as the new financial structure comes into view. The potential for disruption to the USDollar- based supply chain and inventory system remains a high risk. The onset of the return of the Gold Standard to trade, banking, and currencies is upon us. The following are frequent topics within the Hat Trick Letter, within each and every monthly report. Full Story
Gold officially entered a bull market in last week’s trading with prices gaining more than 20% from their December lows. The silver price also put on some very nice gains, but the price needs to reach about $16.40 before watchers can make the same claim. If the white metal can exceed last week’s gains of more than 5%, the silver market will reach official bull territory too. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 7 March, 2016
Our friend the Dutch economist Jaco Schipper reports an increase in transparency about gold in the monthly reserve asset reports of the European Central Bank. Since last August, Schipper notes, the ECB's monthly report has been distinguishing the allocated from the unallocated gold in the holdings of its member central banks, with less than 2 percent of the gold now being unallocated. Full Story
Make no mistake about it; at this point the stock market is just another tax on the little people, where insiders and oligarchs run wild over them. Unless you are a high frequency trader, unicorn, or billionaire activists you don’t have a chance at winning against the forces at work here, making participation for most high-risk stupidity. Even the mighty quants and billionaire activists are starting to feel the pain now however, which can’t be good for the average Joe. Full Story
Over the last three weeks, U.S. equity markets have recovered and are now more overbought than any time since 2009. While this is the case with equities, it is not the case with high yield debt. As I have said many times before, credit analysts actually look under the hood to discern the real situation and credit at this point is not buying the equity bounce/short squeeze. In fact, high yield credit spreads are rivalling the dark days of 2008. Full Story
The internet is filled with predictions for the price of gold, from $500 to $50,000 per ounce. It depends on your world view. If you are a central banker or a powerful financial player which often supplies loyal employees to serve as Secretary of the U.S. Treasury, the low gold numbers look good. Or, if you understand the incredible $200+ Trillion of debt the world has accumulated and realize it can’t be repaid, then gold at $10,000 probably looks inevitable. Full Story
Despite all the recent focus on gold, the best performing precious metal for the week was palladium, up 14.78 percent. Platinum should also get special mention with a gain of 7.10 percent. The World Platinum Investment Council made a strong investment case for the platinum group metals going forward as over 2 million ounces of vaulted stocks have been liquidated over the past four years, depressing the price of the metals. Full Story
While some business / economic publications, like NewsMax are saying that, “Oil is pulling away from the market’s biggest storm in seven years,” I say, “Don’t believe it.” Not for one second. The real storm begins near the middle of March. Because people saw that the price of oil rose and stabilized in February and that stocks followed in lockstep, they were quick to conclude the worst is over. The final days of February were, in fact, nothing more than the calm before the main storm. Full Story
Last week I was going through gold and silver trade data released by the Indian Directorate General of Commercial Intelligence and Statistics (DGCIS) and observed strong import of precious metals in 2015. At the same time I was reading the documents, news came out that stated the Indian government was to implement extra rules to hinder its people from buying gold. In my view, the situation in India is another perfect example of a government’s nonsensical fight against the economic tide. Central banks do it all time don’t they? Full Story
Bill Holter and Jim Sinclair sat down and answered reader’s questions in their second Q+A session. Topics discussed were the ESF and monetization of debt, negative interest rates and the possibility of a cashless society, hyperinflation, derivatives, and of course gold and silver. Other topics included the state of politics in the U.S. and their upcoming premium content at Jim Sinclair’s Mineset. Full Story
So the price of silver rocketed up 80 cents, while the price of gold jumped $37. Silver is now more expensive than it was two weeks ago; the price decline of last week was more than overcompensated. Full Story
Friday’s wacky price swings easily exceeded the 1273.80 rally target we’d been using for the last several weeks. This Hidden Pivot lodestar helped keep us confidently on the right side of the move, even when the rally stalled, sometimes for days at a time. The $7 overshoot of 1273.80 suggests that bullish ABC patterns of a larger degree are at work pushing gold higher, including one with a 1384.10 target that was included with the last tout. For the moment, however, we should use a somewhat less ambitious pattern to take the stress and guesswork out of trading this vehicle’s ups and downs in the days ahead. Full Story
Chris welcomes back Bob Hoye, senior investment strategist at Institutional Advisors. His new peak momentum indicator tends to identify market zeniths and subsequent new bear markets. James Turk of GoldMoney.com returns to the show - he's watching the gold / silver ratio closely. The current reading near 80:1 may represent a significant relative value for silver, especially given the naturally occurring, geological 10:1 ratio. Full Story
Many analysts and writers have described the pattern forming in the past couple of weeks in gold as a “bull Flag or Pennant” with some appearing to be “playing to the gallery” – i.e. telling their audience what they want to hear, which is that gold will continue to go up. I, on the other hand, decided that the triangle that had formed was not a continuation pattern, but a top, and said so about a week ago. So, as you will readily understand, I was not looking good when gold seemingly broke out upside on Thursday, and came in for considerable flak. However, on Friday there were some dramatic developments across the sector which look set to vindicate my stance. Full Story
The war against the collapse of the monetary system that British economist Peter Warburton wrote about so succinctly back in April of 2001 is on its last legs. The Frankenstein economic and financial system that is currently being supported by the assorted sociopaths and psychopaths in Washington, Wall Street—and at the Federal Reserve et al, is about to die, regardless of the fact that it’s now on continuous and frantic life support. Full Story
By: Steve St. Angelo, SRSrocco Report - 6 March, 2016
If the gold market suffered a 1.4 Moz deficit in Q4 2015 even with 2.2 Moz of supply coming from Gold ETF outflows, what kind of trouble is taking place now with just two Gold ETF’s added 6 Moz to their inventories in just two months??? Folks, this translates to 187 metric tons of additional physical gold demand during JAN-FEB compared to a 2.2 Moz outflow last quarter. This is an amazing net 8.2 Moz change in Gold ETF demand in just the first two months of 2016 versus Q4 2015. No wonder Blackrock had to suspend issuance of new shares. We may be finally witnessing the REAL ENDGAME TO PAPER GOLD MANIPULATION. Full Story
The bearish reversal at resistance coupled with history makes a strong argument that gold stocks could correct recent gains in the days and weeks ahead. A 20% decline would be normal and reasonable given the context. For those of us waiting for a correction, it could be coming. The month of March may provide the best buying opportunity in the miners since December 2015. Full Story
Canada’s Financial Ministry has continued to act out its insanity. The Ministry has actually stripped Canada of every last, single ounce of gold. This at a time when China and Russia are buying whatever they can. China holds over 1,700 tons of gold though it probably holds a lot more than that. Russia holds a huge amount of gold too and is buying more. Full Story
This week we saw markets run into resistance and they are more overbought now than we’ve been since 2009 but we just aren’t yet seeing any weakness that we can short into. I had to take losses on all my short positions first thing this past week and it was the right choice as losses were pretty small and would have grown had I held. It’s fine and dandy to be wrong but it’s not fine to stay wrong. Full Story
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