I am convinced that silver will soon explode in price in a manner of unprecedented proportions, both in terms of previous silver rallies and relative to all other commodities. By unprecedented, I mean that the price of silver will move suddenly and shockingly higher in a manner never witnessed previously, including the great price run ups in 1980 and 2011. The highest prior price level of $50 will quickly be exceeded. Full Story
By: Adam Hamilton, Zeal Intelligence - 12 May, 2017
The gold miners’ stocks have been slammed by a sharp gold pullback in recent weeks, spawning today’s bearish sentiment. Traders often get caught up in the emotional swings generated by this volatile sector. But once a quarter earnings season arrives, revealing gold mining’s hard fundamental realities which dispel the obscuring sentiment fogs. The major gold miners’ profitability actually just exploded higher in Q1! Full Story
This article looks at the background to Brexit negotiations and concludes that Britain is negotiating from a position of strength, while the EU is increasingly in a position of financial difficulty. Not only will the European Commission be forced to scale back its spending and redistribution of resources, but the euro project is threatened by capital flight between member states, despite the early signs of economic recovery which should be restoring market confidence. Politicking aside, pressure is mounting on the EU to defuse the disruption of Brexit by agreeing to a mutually beneficial deal as soon as possible. Full Story
The mining stocks moved higher yesterday and this move can be explained neither by a move higher in gold or silver, nor by a substantial rally in the main stock indices. Does the miners’ strength indicate a looming turnaround? Quite likely yes, but the emphasis should be put on “looming” and on the fact that any turnaround here is not likely to be very significant. Full Story
Bob Hoye of Institutional Advisors rejoins the show with key gold / silver market insights. The gold / silver ratio (GS) offers investors a rare glimpse into future price movements. When the GS or metallic credit spread, climbs, financial markets tend to swoon - the latest reading suggests increased market volatility. Full Story
An email from a reader (of the eLetter, I think) calling me out on trying to make too many correlations in a dysfunctional market (I think that was his bottom line point, and he’s got a good point) got me thinking about the Silver/Gold ratio and some pretty interesting post-2011 dysfunction (so it seems) in the markets. Full Story
The Bearish Gold Bull was the title of my presentation last weekend at the Metals Investor Forum in Vancouver, British Columbia. While the title could be ascribed to me personally for my recent tendency towards conservative and cautious views, it more importantly describes the current dichotomy in the gold sector. The mining sector saw its fundamentals hit rock bottom in 2014-2015 and became “bombed out” at the end of 2015. Full Story
Now, as I went through my own search of analysis methodologies early in my investment career, I always attempted to maintain an open mind and heavily contemplated any methodology which seemed to have a following. And, clearly, timing cycles have a strong following. But, intellectual honesty in the market is what will maintain your account on the correct side of the market, and anything that is unable to pass the test of intellectual honesty should be viewed quite skeptically. Full Story
The past century has been an orgy of experimentation. We tried fascism, which initially looked good to some before (literally) crashing and burning. We tried communism, which looked great to many before killing millions and withering away. Fiat currency and fractional reserve banking, meanwhile, still make sense to most economists and politicians but seem to be heading for a fiery end. Full Story
For the first time since 2002 global silver mining/scrap production dropped. Silver is a direct reflection of electronics demand and manufacturing. Without silver our world would not be the same. The computer or phone you’re reading this on would not exist. The TV, wiring in your house, just for starters, would not work without silver. Silver is a great indication of how our economy – globally – is growing or contracting. It appears there was a contraction in 2016. Just remember, the economy is robust and growing, or so they say on TV. Full Story
The growing influence of the Shanghai Gold Exchange (SGE), the world’s largest physical gold exchange, is a topic familiar to many. So it is not surprising that trading volumes at the SGE continued their dramatic rise in 2016, with a record 24,338 tonnes of gold traded across physical delivery and deferred settlement contracts. Full Story
A new day is dawning for precious metals. Gold and silver – the world's oldest money – are "connecting" with the newest money, digital cryptocurrencies. The final outcome of this nexus is unpredictable, but it is foolhardy to ignore what is taking place. Full Story
Central bankers are managing paper currencies for the benefit of the people, not the financial and political elite. Consequently consumer prices are stable and there is no reason to own gold as protection from currency devaluations. Time Magazine confirmed that Greenspan, Rubin and Summers saved the world in 1998. Bernanke did it again after the last crisis. In 2012 he was called “The Hero” by The Atlantic. Full Story
Gold is currently trading near a critical level, from where a massive move up or down is imminent. One of the measures that illustrate we are a close to a big move, is the following resistance line on the gold chart that I have previously highlighted. The red line is the critical obstacle that the gold price has to overcome, for the continuation of the gold bull market. Furthermore, since price has now failed more than four times at the line, there is a great chance that we could see a big drop. Full Story
By: Steve St. Angelo, SRSrocco Report - 11 May, 2017
Most Americans didn’t realize it, but something BIG changed in the U.S. gold market in the beginning of 2017. While precious metals sentiment and buying in the U.S. has dropped off considerably in the first quarter of 2017, the East continues to acquire gold, HAND OVER FIST. How much gold? Well, let’s just say…. U.S. gold exports have nearly doubled during JAN-FEB 2017 versus the same period last year. Full Story
This video provides a comprehensive discussion of why gold is in a new bull market. The price action of a bull market is discussed. The intricacies of cycle analysis is provided. Full Story
Trump boasts that he and Kissinger have been friends for years and that they were just meeting with Russia to discuss the Syrian war, where Trump is also accused by some of intensifying the conflict in order to change the public conversation in the press away from his supposed collusion with Russia. Just a coincidental meeting between old Watergate-era buddies and new Russian friends. The world is wobbling on its axis today, my friends. Full Story
Sound money advocates scored a major victory today when the Arizona state senate voted 16-13 to remove all income taxation of precious metals at the state level. The measure heads to Governor Doug Ducey, who is expected to sign it into law. Full Story
Over the past three weeks, approximately 11 trading days, silver has suffered one of the longest downward spirals in a great many years and some have even argued this is the longest ever. I try not to look a gift horse in the mouth and simply use this manipulated beating to acquire more money at a more favorable exchange rate. Some people call it the “price” of silver, but in doing so the monetary history of silver is discredited and wiped from memory. This has to change; but I digress. Full Story
By: Steve Saville, The Speculative Investor - 10 May, 2017
To believe that the gold market is influenced by the manipulation of a banking cartel to the extent that the gold price doesn’t reflect the true fundamental drivers it is necessary to have almost no understanding of what those price drivers are and how they should affect the market. There are many fundamental relationships between gold and other markets that I could show in chart form to support this statement, but in this post I’ll focus on a chart that illustrates the relationship between gold, commodities and economic confidence. Full Story
While we still can see one more 5th wave decline based upon the smaller degree charts I am tracking, I would want to see a bottom struck in the coming week, followed by a strong 5 wave move off those bottoming structures in order to retain a strong long term bullish bias. Moreover, as noted before, GDX probably has the cleanest of the charts, and while it suggests that we should remain over the 20.30 level, a break down below 18.58 would truly shake my conviction in the fact that a long-term bottom has been struck in the complex. Full Story
In the last 20 years, the U.S. stock market has undergone an alarming change that too few people are aware of or talking about. Between 1996 and 2016, the number of listed companies fell by half, from 7,300 to 3,600, according to a recent report by Credit Suisse. This occurred despite the U.S. economy growing nearly 60 percent over the same period. Full Story
We have unfulfilled targets as high as 2492.50, but the 2355.50 Hidden Pivot shown in the chart can serve for now. I like the 120-minute graph here because it shows the rally for what it is: a labored, grunting affair whose progress has been wholly dependent on short-covering rather than steady buying. Moreover, virtually all of the gains since mid-April have come via gaps at the opening bell, and even then it has taken as long as three weeks to consolidate for the next push, all of which have been relatively modest. Full Story
The creator of the wildly popular junior gold stock ETF has a 4 billion dollar problem. Although the mainstream media is reporting on this big problem, it’s missing the story’s most important detail… one that could help you make large capital gains over the next 12 months. I believe that very soon, a major issue with the junior gold stock ETF will create an opportunity to buy some of the world’s most valuable junior gold companies for pennies on the dollar… all thanks to a coming tsunami of selling that has nothing to do with the companies themselves. Full Story
One of the interesting things about the Great Recession was how Canada’s financial system sailed through it largely unscathed. Its banks were regulated wisely and behaved prudently, its citizens avoided the extreme stupidity of their credit-addicted neighbors to the south, and its government refrained from doubling its debt every eight years. It certainly looked like Canadians were smarter – or at least more emotionally mature – than we were. Full Story
Gold and silver have been sold down pretty hard since April 18th. But the structure of the weekly Commitment of Traders report, which shows the long and short positions of the various trader classifications (banks, hedgers, hedge funds, other large investment funds, retail) had been flashing a short term sell signal for the last few weeks. The net short position of the Comex banks and the net long position of the hedge funds had reached relatively high levels. Except Thursday (May 4th), almost all of the price decline action was occurring after the London p.m. gold fix and during the Comex floor trading hours, exclusively. Full Story
Gold has arrived at the $1220 support zone. Note the position of the Stochastics oscillator at the bottom of the chart. Significant rallies tend to begin from the current position. Since Indian dealer stocking for the Akha Teej festival peaked a few weeks ago, gold has been declining (as I suggested it likely would). Top analysts at Goldman Sachs had a target of $1220 and that’s roughly where the price has fallen to. Full Story
The move by the Bank of England to publish this data was first reported by the Financial Times in February and was supposedly part of a broader gold vault reporting initiative which was to include vault holdings for all 7 of the London Bullion Market Association (LBMA) commercial precious vaults in London. These commercial vaults are run by HSBC, JP Morgan, Brinks (on behalf of itself and ICBC Standard), Malca Amit, Loomis and G4S. While the Bank of England had single-handedly gone ahead with its side of the reporting initiative, the precious metals vault holdings data from the LBMA was conspicuously absent when the Bank of England made its move. Full Story
By: Steve St. Angelo, SRSrocco Report - 9 May, 2017
The Fed and Central banks are manipulating the gold and silver price because they are horrified that the biggest global BANK RUN in history will take down the entire system. Unfortunately, a lot of investors are still being misled about the fundamentals of precious metals market manipulation. While the Fed and Central bank are indeed intervening in the gold and silver market, they are also propping up the majority of asset values across the board. This is especially true for most stocks, bonds and real estate. Full Story
Today, gold can be moved anywhere in the world in days. The entire globe is effectively the trading region for gold. This means that gold is not subject to local gluts or shortages. Gold supply and demand are quickly smoothed out over the entire world. This helps makes gold the most liquid commodity. Full Story
By: Steve Saville, The Speculative Investor - 9 May, 2017
Most people with a basic grounding in economics know that increasing the supply of money leads to a fall in the purchasing power of money. However, this is usually as far as their understanding goes and explains why monetary inflation is generally not unpopular unless the cost of living happens to be rising rapidly. Monetary inflation would be far more unpopular if its other effects were widely understood. Full Story
At the start of the second quarter, the eurozone’s manufacturing sector grew at its fastest pace in six years, climbing from 56.2 in March to 56.7 in April and marking the eighth straight month of expansion. Of the eight eurozone countries that IHS Markit surveys, only Greece failed to show any improvement during the month. Full Story
There is such appealing clarity in the bearish pattern shown that we should have no qualms whatsoever about sticking with our game plan to catch a profitable ride on the little sonofabitch. That means never chasing a rally, buying only on weakness, and doing so only when VXX is at or very near a Hidden Pivot swing point. At the moment, that would imply a print within a few pennies of the 14.64 downside target shown. If the trade sets up that way, we’ll use call options to leverage the anticipated bounce. Full Story
Gold market closes near unchanged as the first test of the 100-Day Moving Average of Closes took place with gold not collapsing. Gold continues to gain on silver. The strong US Dollar likely held back further gains today. Full Story
Did I pique your interest with such a goofy title? We'll get to that shortly but first let's take a look at the question raised last week, "what are the chances of gold being down 15 days in a row". I received the answer from statistician Jim Willie. The answer, "in a vacuum" is once in every 32,800 trading days. Full Story
The Gold bugs and Gold experts must be going through hell; almost seven years later and the Gold Markets refuse to follow the path these individuals have laid out for it. Proclamation after proclamation has failed, and the detested dollar much to their angst and surprise has continued to trend higher. Inflation has not taken off as they expected; well at least based on the distorted figures the government issues. Full Story
As we know, Tactic #1 has been carried out by years’ worth of massive, unpredictably-timed, electronic, naked-short price attacks primarily conducted on the Comex, the Deep State’s captured and non-regulated Command and Control Center. GATA has long documented in exquisite and laudable detail the gold price-rigging scandal, and Deutsche Bank’s admission in late 2016 that they and numerous other major banks manipulated the gold market for years ended, once and for all, any possible doubt about gold market corruption. Full Story
What is quite interesting is that many begrudgingly note that this is the second longest bull market in history. Yet, when you consider how many continually fight this market rally, and the fact that this is the most hated market rally in history, it would make sense that it will simply continue until most of the market finally embraces the bull. Nothing will stop this rally, and the proverbial wall of worry will continue to be climbed, until everyone begins to love the bull. Full Story
The best performing precious metal for the week was palladium, falling just 1.39 percent. Stillwater Mining’s CEO told investors that palladium prices are likely to rise further due to growing demand in China, despite auto sales declining in the U.S. Comments released by the Fed following Wednesday’s meeting, reinforcing the interest-rate hike schedule despite a slowdown in U.S. growth, left gold traders split this week. Full Story
The problem with this is that when the Yen drops hard against the $USD, it exports deflation in the financial system. And there’s only so much the system can take until something breaks. Last month, that “something” was Oil. The commodity has dropped an incredible 15% in roughly three weeks thanks to the Bank of Japan’s meddling. Full Story
I fully intended to end my series on “Angst in America” last week, moving on to portfolio construction and what I call the Great Reset. But as I did my regular reading and research this week and reflected on it, I realized there was one piece missing from this series. That is a discussion of the angst that the Millennial generation and generations that follow are facing. And this is not just a US problem; it’s global. Full Story
The medium-term trends in gold are reflected by the medium-term trends in the USD Index and that’s been the case for many years. Naturally, there are deviations from this rule, but generally, it has to be the case simply because gold is priced in the US dollar. Consequently, it is very important for precious metals investors and traders to monitor the USD Index as signs of bottoms likely indicate lower prices for PMs in the following weeks. Full Story
The dollar moved strongly, now over 25mg gold and 1.9g silver. This was a holiday-shortened week, due to the Early May bank holiday in the UK. The big news as we write this, Macron beat Le Pen in the French election. We suppose this means markets can continue to do what they wanted to do before the threat of Frexit, shutting off trade between France and the rest of Europe, and who knows what else Le Pen was plotting to do to the French people. 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. 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. Full Story
It wasn’t as if there was not a lot happening during our absence. The US threatened North Korea over its nuclear bomb testing and supposedly, warships were headed to North Korea (but were actually headed to Australia). Gold reacted by falling and stocks rallied. The North Korean dictator blustered about blowing the world to smithereens, but as of now it remains intact. China, North Korea’s next door neighbour is not happy about all the threats as they don’t want to deal with a possible humanitarian crisis on their doorstep nor do they want US troops that close to China. Full Story
The gold price traded ruler flat until noon in Shanghai on their Friday — and then rallied five bucks in the next forty-five minutes or so. It chopped quietly sideways from there until the COMEX open. At that point, ‘da boyz’ appeared — and by the London p.m. gold fix, had the price back to unchanged. It didn’t do a lot after that. The job numbers yesterday appeared to have minimal effect on the precious metal prices. Full Story
What's important about all this is not sympathy for the poor bankers who have to accept lower wages or a pink slip. Consciously or unwittingly, they've been foot soldiers for a cabal that's done the greatest evil towards global human rights and prosperity over the past century. Personally, I'll happily take a front row seat, open up a bag of popcorn, and delight in the schadenfreude of watching that industry collapse on itself. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 7 May, 2017
Yes, gold and gold stocks are "wildly oversold," but no amount of touting is going to get them up until the sector and the people who write about it have the wit, integrity, and courage to identify just who is keeping them down and why. Full Story
One can see from Rambus’ below charts that it appears the PM stocks are still early on in the decline process. I would agree, but of course stocks don’t move in a straight uninterrupted line. Therefore I would suggest we are due for a bit of an upward retracement soon. I claim this on the following basis: RSI is now significantly oversold and is now putting in a positive divergence (note red line). Also stochastics are extended to full range and appear to be in the first stage of turning up. Full Story
The stock markets are setting up for either a choppy consolidation or corrective phase before the euphoria phase begins. The winning strategy I have found uses a combination of cycles, sentiment and some technical indicators. Full Story
Gold lost a hefty 3.26% this week but good news may be here. The major pivot area of $1,220 is here and should provide some support. $1,220 dates back to 2008 so remains a major area. Who knows how gold will react to the second round of French elections this weekend so let’s wait and see. Silver was slashed by 5.72% on the week. We’ve got some support here at $16.25 but if this fails then $15.75 is most likely in the cards in short order. Full Story
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