The bottom line is that the gold sector is stable and in waiting for difficulties in the stock market and other heavily gamed areas of the investment world. If markets begin a routine but persistent correction the gold sector need not get sucked down with stocks. If we have a classic fall liquidity event, the gold sector could take a hit before a sustained rally takes place. If on the other hand the stock market mania continues firmly in the weeks and months ahead, the gold sector will wait until the massive asset speculation (i.e. generalized bubble) terminates before it offers anything special for investors. Full Story
Following an article in the Nikkei Asia Review, which reported China will shortly introduce an oil futures contract priced in yuan, there has been some confusion about what it means. The article pointed out that in combination with existing gold futures priced in yuan, an oil exporter to China contracting to accept yuan could use these two futures contracts to take delivery of physical gold in payment for oil. Full Story
With the third quarter’s earnings season now underway, the gold miners will soon join in and report their latest results. No data is more highly anticipated by investors, for good reason. Quarterly reports dispel the dense fogs of herd sentiment that usually obscure gold stocks, revealing their operations’ underlying fundamental realities. Q3’17’s upcoming results are likely to prove quite bullish for this neglected sector. Full Story
The reaction when the market starts to correct is the same; run for the hills, the world is ending or some variation of that theme. However, if you spend a little time on looking at the history of the markets; one thing becomes clear. Those that panic gets hammered and those that remain calm walk away with the spoils. Full Story
Bill Murphy of GATA.org returns with bullish commentary on Bitcoin and the precious metals sector. Bill Murphy clarifies news on China's in-ground gold reserves figure that soared to 12,100 tons. The discussion includes today's break above $5,200 Bitcoin - some top analysts are calling for $7,000, while Clif High makes a plausible case for $13,000 BTC. Full Story
The US Dollar Index (USDI) bottomed in September a hair below 91.00 and has recently rallied up to 94. We were skeptical Gold would break its 2016 highs as it failed to show strong performance in the wake of the USDI’s decline to new lows. The market was discounting a coming rebound in the USDI and/or future weakness in Gold. In any event, although the USDI broke key levels which leave its bull market in question, it became quite oversold and was due for a sustained rebound. Full Story
Today’s bullish surge was strongly impulsive on the hourly chart (see inset), surpassing no fewer than four prior peaks, three of them ‘external’. From a technical standpoint it transformed a bearish head-and-shoulders formation that has been taking shape since May into something else — presumably a consolidation pattern with enough energy to push the stock above the all-time high at 1083.31 recorded in late July. We shall soon see. Of course, if the bull market in AMZN is about to get second wind, it holds bullish implications for the stock market as a whole, since the company is the most important retailer in the world. Full Story
The Fed is baffled as to why inflation remains so low. It’s a clever move, given that the reason inflation is believed to be “low” is because the Fed has been purposefully understating inflation for years. Perhaps the biggest fraud ever committed in financial history concerns the understating of inflation in the Unites States post-1971. Full Story
The head of SchiffGold, Euro Pacific Capital, and Euro Pacific Gold Fund (EPGFX) returns. Our guest owns a house and condo in Puerto Rico, where a direct hit from CAT 4 Hurricane Maria plunged all 3.4 million inhabitants into total darkness. 6 months - hundreds of thousands will require relocation. The discussion includes new national emergency in California - wild fires have claimed at least 15 fatalities, hundreds of missing persons. Full Story
But as attracted to gold as Indians are, they weren’t the world’s biggest investors in the yellow metal last year, and neither were the Chinese. According to a new report from the World Gold Council (WGC), that title shifted hands to Germany in 2016, with investors there ploughing as much as $8 billion into gold coins, bars and exchange-traded commodities (ETCs). This set a new annual record for the European country. Full Story
US national debt in 1913 was $3 billion. Today it exceeds $20,000 billion. There is no plan to reduce or eliminate debt. Money supply has grown similarly. Debt has grown far more rapidly than the economy which must support the debt. This model is not viable in the long-term. The debt will never be paid in today’s dollars, and debt cannot increase forever. Hence the debt will default via outright repudiation or default via inflation. Both will be painful. Who in their right mind believes that an economy can solve an excess debt problem with more debt? The “powers-that-be” don’t want the excess debt problem solved – THEY WANT MORE DEBT! Full Story
The Dow Jones Industrial Average continued to move higher, having only one red close since the low that was struck on September 26th. Furthermore, the Dow has now broken through a key longer-term Fibonacci resistance level that we had been watching for quite some time at the 22,707 level. So although the Dow is quite stretched at current levels, the pattern still does look incomplete, thus leaving us with no solid signal of a top being in place just yet. Full Story
Recently, the western banking cartel media has been out in full force to mislead everyone regarding a narrative of falling and “soft” demand for physical gold and physical silver, as they typically frame the market in the US as representative of the global market when this is patently false. Furthermore, the usual suspects, like Goldman Sachs bankers, have piled on to this misinformation by calling for a plunge in gold prices, but more on that later. First let’s discuss the misleading statistics being disseminated by the mainstream financial media regarding physical gold and physical silver demand. Full Story
Are we overdue for the “Big One”? It seems everyone is buying stocks again. And no one is interested in precious metals. Mike Maloney believes we may have reached capitulation. Mike explains in this short video two indicators that point to a near capitulation of the markets. Unfortunately, investors are piling into a market that is topping, while they should be purchasing precious metals. The downside risk to gold and silver is very limited, but this can’t be said for the broader markets. Instead, the stock market has an extreme downside risk while the precious metals have unlimited upside potential. Full Story
One of the fascinating things about financial bubbles is how they transform great companies into screaming short sale candidates. Put another way, bear markets tend to throw even the prettiest babies out with the bathwater. Here, for instance, is what happened to Cisco Systems, the dominant maker of networking gear (the devices that run the Internet) when the 1990s tech stock bubble burst, bankrupting many of its customers and causing its earnings to miss expectations. Its stock fell by more than three-fourths and those who had bought it during the previous year’s euphoria got hosed. Full Story
Buying breakouts during the middle phase of a bull market will, most of the time, cause the trader to experience a draw down. This is because this market phase tends to stair step higher with numerous set backs. The preferred strategy is to try and catch the intermediate cycle low and ride that until the intermediate cycle tops. Full Story
The paper gold attack that I first suggested might occur in the September 7th issue has taken gold from $1360 down to $1270 (continuous contract basis). Technically, gold has moved from an “overbought” condition to a mildly “oversold” condition. The RSI and MACD indicate that gold is slightly “oversold” but I believe both indicators will flash “extremely oversold” before this price attack over. This should occur sometime in the next 2-3 weeks. Full Story
The Fed is dramatically understating real inflation. As you know, I’ve been very critical of the Fed’s inflation measures for years. The official inflation measure (Consumer Price Index or CPI) does a horrible job of measuring the actual cost of living for Americans. Full Story
Precious metals investors need to understand the coming silver price surge will not occur due to the typical supply and demand forces. While Mainstream analysts continue to generate silver price forecasts based on supply and demand factors, they fail to include one of the most important key factors. Unfortunately, the top paid Wall Street analysts haven’t figured it out that supply and demand forces don’t impact the silver price all that much. Full Story
While there are more engineers alive today than all during history there are several problems with electric cars that have to be overcome. Of course everyone knows that batteries are a problem. They are heavy, do not hold enough charge for long trips, are expensive and they are a problem to dispose of at the end of their service life. The electric motors themselves require rare earth magnets for high efficiency. You can induce an electric field without them but the efficiency suffers. Most rare earth magnets are mined in China. Full Story
I am tracking a single-contact position with a cost basis that has been reduced by profit-taking to 1204.80. At a current price of 1293.10, that would imply a theoretical gain so far of nearly $9000. As is my custom, I track positions only when subscribers have reported initiating trades with actual money, based on explicit recommendations I have made, or on precise reversal targets that I’ve calculated using the Hidden Pivot Method. We are swinging for the fences with one contract that remains from an original four, all purchased when December Gold bottomed on Friday exactly at a correction target sent out the night before. Full Story
Many are the turning points with individual nations, once firmly in the Western alliance camp, but no longer. They are flipping eastward or in the case of China cutting the major cords. The Shanghai developments are by far the most important in the financial setting. The Petro-Dollar is seeing its last months after a 43-year reign as defacto standard. Its retirement will begin in the East, then spread to the decaying loyal Western nations. The entire geopolitical chessboard is becoming more aligned with the Eurasian Trade Zone, one nation after another. Full Story
Price found support on Friday and produced an upside reversal. Then on Monday gold began to break out at the downtrendline. A close above the blue arrow will confirm the breakout with a target at $1360. The supporting indicators are positive, as well as the moving averages which are in positive alignment and rising. The Gold Direction Indicator closed at 71%. Full Story
Since the ballot in Catalonia over a week ago, which the Spanish authorities, contrary to the spirit of democracy, did their best to disrupt by the use of brute force, as any good old fashioned fascist State would, by sending in the "Brownshirts", the mainstream media have gone to work in an effort to present the pro-independence Catalans as a bunch of fringe wing nutters trying to turn the clock back to the Middle Ages. Full Story
In this analysis we will take a look at something deeply personal – which is how the $20 trillion United States national debt may change the day-to-day quality of life for savers and retirees in the decades ahead. That is likely a somewhat unusual perspective for many savers and investors. On the one hand, we have what are often thought of as abstract economic concepts - such as how large will the national debt be in 10 or 20 years? How will Federal Reserve actions to increase interest rates change future government deficits and debts? Full Story
Gold tends to stage great rallies in the days following the jobs report, and this rally is a particularly interesting one. Here’s why: First, Trump has ratcheted up his “hawk talk” in regards to North Korea and Iran. He’s scheduled to make a key speech on Thursday about Iran, a country which is now exporting two million barrels of oil a day. Second, the Chinese government recently chopped commercial bank reserve requirements. That triggered a massive rally in bank stocks around the world, and in most stock market indexes. Full Story
It was a summer fit for the start of the Epocalypse followed by a fall where every event leans into Halloween. Summer began with a total solar eclipse that cast a long shadow across the nation from sea to shining sea, and fall began with hurricanes, mass bloodshed and fire. And through it all, the stock market barely blinked. Full Story
This evening, one of my members forwarded me a public post made by another “analyst” about Elliott Wave analysis, which seemed to be supported by his novice acolytes. And, yes, that perspective suggested that Elliott Wave is “useless as a tool for market analysis.” So, please allow me to deal with the substance of the issue at hand, and that is the accuracy and usefulness of Elliott Wave analysis. Full Story
Lately I’ve been seeing more and more headlines asking whether cryptos are “killing” gold. Would the gold price be higher today if massive amounts of money weren’t flowing into bitcoin? Both assets, after all, are sometimes favored as safe havens. They’re decentralized and accepted all over the world, 24 hours a day. Transactions are anonymous. Supply is limited. But I don’t think for a second that cryptocurrencies will ever replace gold, for a number of reasons. For one, cryptos are strictly forms of currency, whereas gold has many other time-tested applications, from jewelry to dentistry to electronics. Full Story
Stocks are at record highs while volatility is at a record low. Which is another way of saying that investors aren’t as worried as they probably should be about the coming year. That’s okay. Price corrections (with their attendant volatility spikes) are normal and natural ways for markets to teach overconfident investors a little humility. Think of them as the financial word’s forest fires, clearing out the underbrush of misconception, malinvestment, and hubris. Full Story
By: Mike Gleason and Frank Holmes - 9 October, 2017
It is my privilege now to welcome in Frank Holmes, CEO and Chief Investment Officer at US Global Investors. Mr. Holmes has received various honors over the years, including being named America's Best Fund Manager for 2016 by the Mining Journal. He is also the co-author of the book The Goldwatcher: Demystifying Gold Investing and is a regular guest on CNBC, Bloomberg, Fox Business as well as right here on the Money Metals podcast. Frank, welcome back and thanks for joining us again. How are you today? Full Story
The best performing precious metal for the week was silver up 1.07 percent. Precious metals rallied to mid-day highs on Friday as it was rumored North Korea will test a missile this weekend that is capable of reaching the U.S. West Coast. Gold traders and analysts surveyed by Bloomberg on Thursday were equally split between bulls and bears this week, reports Bloomberg, after saying gold prices will go down three weeks in a row. According to data released by the Perth Mint this week, gold coin and minted bar sales increased to 46,415 ounces in September. This is up from sales of 23,130 ounces in August. Full Story
The last Gold Market update almost a month ago called the intermediate top within a day, as you may recall, and the subsequent Gold and US Dollar Interim update called the rally in the dollar the day before it started. Having seen a significant reaction back by gold, the question now is “Has it run its course?” The short answer to that is yes, although calling a bottom here is complicated by the fact that gold’s COTs have not eased as much on the reaction as we might have expected, and the dollar Hedgers’ chart is still flat out bullish for the dollar. Full Story
Newsletter writer Steve Saville of The Speculative Investor, who long has denied that manipulation of the monetary metals markets means much over the long term, has seized on the recent essay by Keith Weiner of Monetary Metals as the conclusive refutation of silver market analyst Ted Butler's longstanding complaint that JPMorganChase has been rigging the silver market. Full Story
Many gold bugs make an implicit assumption. Gold is good, therefore it will go up. This is tempting but wrong (ignoring that gold does not go anywhere, it’s the dollar that goes down). One error is in thinking that now you have discovered a truth, everyone else will see it quickly. And there is a subtler error. The error is to think good things must go up. Sometimes they do, but why? Full Story
James Rickards makes his show debut, author of The New Case for Gold, the private placement, MERAGLIM and the James Rickards Project. As a key negotiator in the 1998 LTCM bailout and advisor to the DoD / CIA / Los Alamos, James Rickards outlines sophisticated analytical models. Bob Hoye of Institutional Advisors rejoins the show with an update on the Bitcoin phenomenon. For the first time in economic history, the masses have a chance to grab the reigns of the money supply, central banks are no longer required. Full Story
As wrenching as Las Vegas was, it had no impact on global markets—except for gun stocks that soared, Las Vegas hotels that plummeted, and conspiracy theories that proliferated. Puerto Rico had no real impact on stocks either, although it was on again-off again for the Puerto Rico debt. President Trump seemed to indicate that the debt should be forgiven, but then of course he didn’t really ask anyone and was soon overruled. Hedge funds (and even the mutual funds) don’t really want to lose money. Hedge funds had already filed in court to protect their asset. Full Story
In fact, I knew what the economy did last summer before summer even began. Since the beginning of the year, I have been writing that it appeared housing was reaching a new bubblicious peak and that the real estate market was getting ready to roll over. Just before the start of the summer, I confirmed that prediction by saying that it looked like that process had begun. I anticipate it will be a slow turnover at first, just as it was in 2007, which did not reach free fall until late in 2008. Likewise, I anticipate the present decline will not reach free fall until 2018. Full Story
While there's no telling when exposure of Western central banking's longstanding scheme to suppress monetary metals prices will explode the scheme, word is getting around the world. This is signified by a long commentary published in this month's edition of an Indian magazine of politics and economics, Swarajya, written by Shanmuganathan Nagasundaram, founder of a financial consulting firm. Full Story
The extended period of Quantitative Easing (QE) and ZIRP have now left the major global central bankers in an untenable position because of the Era of Unlimited Leverage which it has fostered. According to the Bank for International Settlements, central banks’ combined asset holdings in the major advanced economies (the US, the eurozone, and Japan) expanded by $8.3 trillion over the past nine years, from $4.6 trillion in 2008 to $12.9 trillion in early 2017. Yet this massive balance-sheet expansion has had little to show for it. Over the same nine-year period, nominal GDP in these economies increased by only $2.1 trillion. Full Story
The Value Line Geometric Index ($XVG) is an equal weighting of all the stocks on the NYSE. It has been consolidating sideways for almost 20 years. In the last several months it has broken out to the upside. This suggests a powerful and sustained move higher in the stock markets is likely to take place, and soon. Full Story
The gold price traded mostly sideways in Far East trading on their Friday, but developed a slight positive bias around the time that London opened. That lasted until shortly before the noon silver fix over there -- and the price began to slide a bit. There was only a tiny price jiggle at the release of the jobs report at 8:30 a.m. in New York, but the price was pressured lower until the low tick of the day...and new intraday low for this move down...was set at the afternoon gold fix in London. It rallied sharply from there, before getting capped at the London close -- and from that point chopped quietly, but unevenly higher for the rest of the Friday session. Full Story
That definition captures the two-sided nature of a promise. One party offers an assurance, which the other converts into an expectation. You deposit money in your checking account, and the bank assures you that you can have it back on demand. You expect that the bank will fulfill its promise when you visit an ATM. Full Story
Once again, I turn over in my mind the Chinese plan regarding their imported oil, which consists in convincing their oil suppliers to accept yuan in payment (and thus re-directing their sales outside the orbit of the US dollar) with an additional sweetener in case the oil exporters do not wish to hold assets denominated in yuan: the sweetener consists in offering to exchange the yuan received by the oil exporters, for gold purchased on the world markets – and not out of Chinese reserves. Full Story
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