Thinking about the 105th anniversary of the sinking Titanic, the Titanic-sized debt in the world, and the role of central bankers… The RMS Titanic departed Southampton, England at noon on April 10, 1912 and struck an iceberg in the North Atlantic just before midnight on April 14. She sunk less than three hours later. Her maiden voyage lasted about 110 hours. Full Story
A new US Housing bubble has arrived, a.k.a. the echo bubble, due to institutional speculation. But this time the subprime debt is also concentrated in delinquent auto / student loans putting $4 trillion at risk. US equities are also in bubble territory with the Dow higher only a few percent in 2017 compared with the spectacular 10%+ gains of the PMs. Full Story
By: Adam Hamilton, Zeal Intelligence - 14 April, 2017
The get-no-respect gold-stock sector is in a strong young bull market. Past gold-stock bulls have grown to utterly-massive proportions before giving up their ghosts, greatly multiplying the wealth of contrarian investors and speculators. Today’s gold-stock bull is very likely to grow vastly larger before fully running its course. Fundamental gold-stock-bull upside targets reveal the lion’s share of gains are still yet to come. Full Story
We learn, out of the blue, that “the Eurozone is performing well, but with opinions divided on the causes, doubts linger over whether it is a sustainable recovery” (Daily Telegraph, 19 April). We are also told that economic growth in the US is stalling, as evidenced by downward revisions by the Atlanta Fed, and the fact that the rate of increase in Loans and Leases by commercial banks is also stalling. The Bank of England was unable to forecast the strength of the UK economy in the wake of Brexit. Full Story
In a bizarre series of events that have had limited coverage but which are sure to have far-reaching consequences for benchmark pricing in the precious metals markets, the LBMA Gold Price and LBMA Silver Price auctions both experienced embarrassing trading glitches over consecutive trading days on Monday 10 April and Tuesday 11 April. At the outset, its worth remembering that both of these London-based benchmarks are Regulated Benchmarks, regulated by the UK’s Financial Conduct Authority (FCA). Full Story
After a long wait, President has finally presented his budget blueprint “to make America great again”. Let’s analyze its possible impact on the gold market. First, we need to praise a 1.2 percent cut in discretionary spending, on balance. In particular, Trump wants to cut the budget of the Environmental Protection Agency by 31 percent, the budget of the Department of State and USAID by 29 percent, and both the budget of the Department of Labor and the Department of Agriculture by 21 percent. Full Story
The frustration out there is palpable. Skim the comments sections of popular financial sites like Zero Hedge or Seeking Alpha and you’ll see gloom-and-doomy articles drawing responses like “You’ve been saying the same %^#*! thing for years…he’s a broken clock…this is just scare mongering.” And those are the polite responses. Full Story
Gold gained a nice 2.48% on the week. We were treated to a solid breakout above the 200 day average from gold on heavy volume, which is key. Friday, April 7th saw gold breakout in overseas action, only to fail once we began trading in North America but this week we saw that diverge. Tuesday saw strong action from North America and the strength continued. Full Story
Over the last year we transitioned from the stock market angst of 2015 to the bullish breakout of 2016. For NFTRH, the real proof in the pudding was the ramp up in the cyclical Semiconductor sector’s Equipment sub-segment (Applied Materials, Lam Research and the like). Specifically, we tracked a trend in Equipment orders and projected a bullish Semi sector a year ago. The logical extension of this was a bullish stock market, since the Semis are a leader. Full Story
An unusual confluence of seemingly unrelated factors may have created an opportunity to do something about the silver (and gold) manipulation. On Monday, April 10, two new officials assumed key roles with the Commodity Futures Trading Commission (CFTC) – a new director of the Enforcement Division and the first chief officer of the newly-created Market Intelligence Unit. The main mission of both departments is to uncover and terminate market fraud and manipulation, the same overall prime mission of the agency itself. Full Story
Question: How can you tell when a politician is lying? Answer: His/her lips are moving. In the last few weeks Trump has become another puppet of the Deep State and his new policies suspiciously resemble the campaign platform on which Hillary Clinton ran for president – at least on the big geopolitical and economic issues. To be sure, at least for now there appears to be some differences between a Trump White House and a hypothetical HRC White House on domestic and social issues. Full Story
Bill Murphy of GATA.org returns with upbeat commentary on the PMs sector. With silver higher by approx. 15% and gold over 10% already this year, the silver market appears to be winding up for an explosive move. For the technically savvy, a bullish head and shoulders pattern implies a possible run back to the $21+ peak of 2016. Full Story
So, overall, I would say that I am bit more “bearish” of the metals themselves as compared to the GDX. But, as you also know, as I have been reiterating for quite some time, I am quite bullish the complex in the bigger picture. You see, all I am looking for is another decline to take hold before this market can be ripe to see a parabolic rally. In fact, the type of rally I am expecting after the next drop is similar to what we experienced in early 2016. For this reason, I note over and over that I will not sell my positions, but have only hedged those positions. Full Story
Digital gold seems to be springing up and finding some legs all across the planet. We first reported on digital gold with James Turk almost two years ago when Mr. Turk first introduced GoldMoney. As of today there are two new players on the scene with slightly different offerings than what GoldMoney has to offer. Full Story
We believe the 6 April 2017 Tomahawk missile attack on Syria indicates that Donald Trump has concluded that the fiscal, economic and political situations in the United States are beyond repair, and that without continued, massive military interventionism and spending, U.S. GDP will plunge, taking all of his campaign commitments down with it. Therefore, he has capitulated to the agenda of the Deep State looters and war profiteers. Trump’s capitulation has profound personal and financial implications for the citizens of the United States and the world. Full Story
Headed into what we anticipate will bring some fireworks to the currency markets this month, the US dollar index has again turned down modestly in the front half of this week. Currently trading behind a series of lower highs and lows from this past December’s cycle peak, our expectations remain for a breakdown below the index’s long-term uptrend extending from the July 2014 breakout. Full Story
Several times before I’ve commented on the implications of a possible U.S.-China trade war in response to Trump’s repeated calls to raise tariffs on goods shipped in from the Asian giant. On the campaign trail, Trump threatened to name China a currency manipulator and even suggested that, were he to become president, he would serve Xi a “McDonald’s hamburger” instead of a big state dinner. Full Story
The market has triggered four such readings in the last two years. Two of them preceded sharp corrections of 9+% in the span of a week or so. A third resulted in a gradual 5% grind lower. The fourth just hit. Full Story
By: Steve St. Angelo, SRSrocco Report - 12 April, 2017
The current silver price trend is once again at a critical juncture. It has been four years since the price of silver crossed an important trend line. However, the present setup will result in either another correction lower, or a much higher price. Full Story
You want drama. ..and TRUTH? Well, let’s start with this amazing, must see, three-minute 2009 clip from Ron Paul; or, as I deemed him five years ago, “America’s greatest man.” Given what I discussed in Friday’s “did America just start World War III”; and yesterday’s “beating of the drums”; it couldn’t be more appropriate – as in it, he asks “what if” America’s foreign policy is misguided; and “what if” it continues down the horrifying road it appears dead set on taking. Full Story
The timing and path to $10,000 are important! When and how will gold prices rise to that level? No one can guarantee gold will sell for $10,000, but that price is likely even without hyper-inflation. Regardless, do your own due diligence and make appropriate investment decisions. Gold might sell for an astronomical number and $10,000 could become the price for a cup of coffee. Hyper-inflation of the U.S. dollar is possible but hopefully unlikely. Argentina has devalued their peso since 1945 by ten trillion to one against the U.S. dollar, and Venezuela is suffering from self-created hyper-inflation. Full Story
By: Steve St. Angelo, SRSrocco Report - 11 April, 2017
U.S. gold bullion exports to Asia started off with a bang in 2017, as the majority of the total shipped in January went to Hong Kong. Not only did the U.S. export most of its gold bullion to Hong Kong, it was the highest monthly amount in quite some time. Looking back at the data for the past two years, Hong Kong’s highest monthly amount of gold bullion imported from the United States was less than half of what was shipped in January. Full Story
It is my privilege now to be joined by a man who needs little introduction, Marc Faber, editor and publisher of The Gloom, Boom and Doom Report. Dr. Faber has been a long-time guest on financial shows throughout the world and is a well-known Austrian school economist and an investment advisor and it's a tremendous honor to have him on with us today. Full Story
Several things happened on Friday and the markets reacted to them, so it’s not easy to interpret the final outcome. Was the reversal bearish or was the session bullish as gold didn’t decline substantially even though the USD rallied? Was gold’s reaction adequate, too small or too big? Let’s start the discussion with a reminder of one of the reasons for Friday’s pre-market rally. Full Story
Last week I returned from Zurich, where I spoke at the European Gold Forum. Investor sentiment for the yellow metal was particularly strong on negative real interest rates and heightened geopolitical uncertainty in the U.S., Europe, Middle East and South Africa. A poll taken during the conference showed that 85 percent of attendees were bullish on gold, with a forecast of $1,495 an ounce by the end of the year. Full Story
Technically speaking, the futures became a ‘mechanical’ buy on this morning’s plunge to the red line, a midpoint Hidden Pivot support at 17.745. In practice, however, due to the $1500-per-contract entry risk, the only way I could have suggested getting aboard would have been to ‘convert’ the mechanical signal to a 'camouflage' one. This is never an easy task, and that’s why I didn’t suggest it. Lest subscribers feel they missed an opportunity, the ‘camo’ entry approach, even on the 3-minute chart, and even seen in retrospect, was treacherous, to put it mildly. What this implies is that we will get long in silver futures using only the most cautious approach. Full Story
Robert Parry has a blue chip track record as an investigative reporter. He broke many news stories about the Iran-Contra affair for AP and Newsweek (back when mainstream news sources were a lot less fake) and he broke the story revealing the CIA was trafficking cocaine with the Contras in the United States in the 1980’s (we’re confident the CIA has upped its drug dealing game now that it has control of the poppy crops in Afghanistan). Full Story
Last year the California Public Employees’ Retirement System, otherwise known as Calpers, cut the expected return on the funds it invests for plan beneficiaries from 7.5% to 7%. Seems like a modest change that should have a correspondingly limited impact on all concerned, right? Alas, that’s not how things work in the realm of compound returns, where small initial changes produce hugely different outcomes. In fact, this is a bankruptcy-level event for some California cities. Full Story
The best performing precious metal for the week was pretty much a tie between gold, platinum and palladium with roughly a 0.50 percent gain. Following the launch of a U.S. missile strike on Syria this week, gold rallied to its highest level in nearly five months, reports Bloomberg. Bullion was pushed back above its 200-day moving average, a level that analysts use to predict whether further gains will continue or stall. Full Story
So while profound change may be afoot in broad market measures, there’s still a ways to go before we can talk about a noticeable sentiment change in precious metals. That said, the groundwork is being laid for such a change, from a sector-wide bullish posture to bearish in proper fashion given precious metals should decline in the initial stages of a ‘deflation scare’ anyway, which is the set-up right now. Once this occurs, and the fools that play the derivatives start betting bearish / hedging (like they do in broad market measures now), the next leg of the precious metals bull market can commence, as prices begin to climb a ‘wall of worry’. Full Story
The Dow has been trading sideways for a couple of weeks now and has formed a volatility coil. My expectation is that price will break sharply lower (below 20,400) over a period of 3-5 days, then be followed by a move to new highs. Full Story
The correct silver fundamental price is below the market price. My commentary actually stands up pretty well, in light of the correct data. Even while I erroneously reported a silver fundamental running up to about $19, I have not been enthusiastic about silver. I haven’t “trusted” it enough to encourage a big silver trade, nor called for a major price move. I think there were two reasons. Full Story
According to Harry S. Dent Jr., investors should ignore FOMC rate hikes and buy gold - slower job growth could cap US equities prices in 2017. The imminent Greek default slated for this July could be another stumbling block for the financial markets. Jeffrey Nichols finds a bifurcated American economy, where a few thrive economically, while the majority struggle to make ends meet. The gold-bull market never ended; bullion and shares are poised for astronomical gains. Full Story
A few weeks ago I spent two days giving multiple speeches alongside my friend Steve Blumenthal of CMG in a very cold New Jersey on the heels of a rather strong blizzard that had left the countryside white and beautiful. I listened to Steve do deep dives on stock market valuations. He started each of his presentations with Warren Buffett’s hamburger story, quoted above, before jumping into multiple charts. After a while, we began to go back and forth during his presentations, as I had my own insights on market valuations, generally in sync with his. Full Story
The gold price was down about a dollar until the cruise missiles hit the ground in Syria, which was just a few minutes after 9 a.m. CST [China Standard Time] on their Friday morning. The powers-that-be were waiting — and within an hour, had the price capped and heading low. From noon onward in Shanghai, the price didn’t do much, but that all changed at 8:30 a.m. in New York. The job numbers brought out the technical fund buyers in droves — and within five minutes, over 20,000 contracts traded — and the price was soon driven back to where it started before the job numbers were released. Full Story
Since the cruise missile attack on the Syrian airbase may be a “one-off” and tensions are likely to ease going forward, any positive impact on gold and silver prices is likely to fade fast, and in fact it already started to before trading was done yesterday, as we will now see on the charts. So it could be said that what we talking about here is a “sell on a strike” situation, selling the PM sector on a missile strike rather than buying the broad market on a labor strike as in Britain in the distant past. Full Story
As there seems to be a lot of interest in some of the currencies I would like to show you some charts we’ve been following for a very long time. Most of the charts will be long term in nature which won’t do us much good in the short term, but they will keep us in tune to the direction these currencies are most likely to take. Full Story
Wall Street would much rather see a lively bull market when stocks are roaring and participation is widespread among all classes of investors. But sometimes even a trading range-type market is good enough for the Street, provided stock prices are near all-time highs. For even when prices are making no headway, the aggregate yield on stocks pays enough in dividends to make the lack of action worthwhile. Full Story
By: Steve St. Angelo, SRSrocco Report - 9 April, 2017
There is an eerie calm in the precious metals market as investors continue to pile into the broader stock indexes. Precious metals sentiment that was flying high last year when the Dow Jones Index fell 2,000 points, is now at an all-time low. Investors who are highly fickle, have no idea that they will lose a great deal of their “supposed” paper wealth. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 9 April, 2017
I understand the industry's cowardice. No industry is more vulnerable to government than the mining industry -- for its mining permits, royalty requirements, and environmental regulation compliance. Since it is the most capital-intensive industry, with an ordinary mine commonly requiring a billion dollars in financing to get started, the industry is also very dependent on the biggest investment banks, which in turn are formally agents of the central banks. Governments and investment banks may not respond well to complaints from gold and silver mining companies about suppression of monetary metals prices. Full Story
Precious metals ended a quiet week with quite a reversal. Gold surged above its 200-day moving average for the first time since November, only to lose the gains and then close below the 200-day moving average. Silver was already trading above its 200-day moving average before it moved higher but it then reversed strongly and even below its 200-day moving average. Full Story
The reason I know Bitcoin is so early in its bull market is that there is literally no one employed to write about it on a full-time basis. Thus, to get information on the topic, I largely have to seek out the tiny handful of “good, smart” Bitcoin people on Twitter and You-Tube. For Precious Metals, you’d think that after a 17-year bull market – in varying degrees, depending on which currency you price them in – there’s be dozens, if not hundreds of commentators to follow; like, in say, the stock market, where thousands of commentators discuss it, in real-time, on a daily basis. Full Story
Stocks just chopped around this week as they remain in their ranges for now. Glimpses of weakness were followed by glimpses of strength and then we’d rinse and repeat as the week wore on. All good, as rest is fine for the longer-term health of the bull market. Metals looked super all week and were ready to break higher and, as we see so often, they did, in overseas action. This strength sadly faded as Friday wore on. Let’s see what Monday brings but I may be out of my mining positions shortly. Full Story
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