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Arizona Ends Income Taxation on Gold and Silver Coins

Posted by on May 24th 2017 in Uncategorized | Be the first to comment!

Sound money advocates rejoiced today as House Bill 2014 became the law in Arizona. HB 2014, which passed in the Arizona state Senate on May 10th by a margin of 16-13, removes all income taxation of precious metals coins at the state level. …read more

Source:: GoldSeek

A Wild Week

Posted by on May 24th 2017 in Federal Reserve, General Economy, JPMorgan, Monetary Policy, Short Sellers, Silver, Ted Butler, Uncategorized | Be the first to comment!


by Theodore Butler

Despite what you may have read, the big banks did not sell gold and silver to depress the price on the big drop recently. The data will show, just as they have always shown that the managed-money traders (computer-driven hedge funds) were the big sellers and the commercials (big banks) were the big buyers. In that fashion, JPMorgan and the big banks successfully closed out a large portion of their profitable short positions. The commercials rig prices lower through the magic of spoofing and other computer scams, but they do so only to generate managed-money selling, so that the commercials can then buy. And this week, the managed-money traders sold COMEX gold and silver in droves, while the commercials bought every contract sold. That’s the game. With record trading volume, this past week was among the best financially for the commercials and worst ever for the managed-money traders in gold and silver. Including the extraordinary price turnaround on Tuesday evening into Wednesday, I’d estimate that JPMorgan and the other commercials made more than $3 billion in gold and silver this week and the managed-money traders lost the same amount.

That’s a far cry from the near $4 billion the commercials were in the hole for during the summer price highs. This is the money game that drives gold and silver prices. The good news is that the market structure is nowhere near as bearish. We have taken a large step towards getting most of the downside price damage behind us. The commercials whacked huge chunks off the price and there seemed to be an urgency in getting the job done.

When the selloff is done, it is likely to be the final selloff in silver. JPMorgan is in the best position for a silver blastoff than it has ever been, particularly after this week, with its largest physical position ever and a sharply reduced paper short position (the whole point of the selloff). It is impossible that the commercials aren’t tuned into the managed-money traders’ behavior, especially considering how few in number are the large commercials. Earlier this year, the commercials were in the hole $4 billion in gold and silver, only to have made that back and $3 billion more over the decline. These are stakes guaranteed to get attention.

The reason for the $4 billion loss was that the commercials miscalculated in allowing themselves to sell short to the managed-money longs at too low gold and silver prices earlier in the year. The reason the commercials miscalculated is that they misjudged the extent to which managed-money traders have attracted investor money. It was large investor inflows that created the much larger positions the managed-money traders put on this year.

Better than anyone else, the commercials and in particular JPMorgan now fully appreciate the tremendous buying and selling power that the managed-money traders possess. Armed with this knowledge, the commercials will never sell as aggressively at low prices when the prospects are for much more managed-money buying to come. It will be to the commercials’ advantage to lay back and hold off when the managed-money traders begin to buy, rather than rush to sell too soon as was the case earlier this year. This would result in much sharper price moves for silver than we’ve witnessed to date.

The right time to buy silver is after it has fallen sharply in price. That’s true with many investments, but buying silver at the right price can make you more money than just about anything else. The good news is that silver has fallen sharply from its summer price highs; making it a better buy now than it has been in many months.


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Gold and Silver Market Morning: May 24 2017 – Gold pulled back by a stronger dollar, but still within a narrow trading channel!

Posted by on May 24th 2017 in Uncategorized | Be the first to comment!

Again it was a day for the gold price to change because of the dollar’s influence as it strengthened a little, but remained at low levels. There was a significant sale of gold from the SPDR gold ETF which assisted the fall. The discounts of London and New York to China widened quite heavily yesterday, but only to the extent that held the euro price of gold relatively steady. …read more

Source:: GoldSeek

Silver Prices Test ‘Bullish 400-DMA’ with Hedge Funds Most Bearish Since 2015 Lows

Posted by on May 24th 2017 in Uncategorized | Be the first to comment!

By Adrian Ash SILVER PRICES slipped from yesterday’s 3-week highs but held firmer than gold to bounce back above $17 per ounce on Wednesday ahead of the release of minutes from the US Federal Reserve’s latest interest-rate meeting.

Physical gold bullion dipped to bounce $4 higher from $1250 per ounce as world stockmarkets held flat with major government bond prices.

Crude prices held firm ahead of Thursday’s Opec oil cartel meeting on output cuts in Vienna, but other commodities also slipped as silver prices retreated over 40 cents from yesterday’s top at $17.31 per ounce.

That pulled the Gold/Silver Ratio of the dearer …read more

Source:: BullionVault

Asian Metals Market Update: May-24-2017

Posted by on May 24th 2017 in Uncategorized | Be the first to comment!

The UK terror attack has failed to support gold and silver. There is some speculation that Indian demand for gold and silver is higher as jewelers expect higher tax rates on the GST front (Goods and Services Tax). GST rates on gold, silver and jewelry sales will be finalized on 3rd June. Gold and silver demand will fall after 3rd June as jewelers reduce buying. I do not expect the Modi government to lend support to the jewelers of India. The Modi led NDA government has increased taxes on every industry which is labour intensive. Jewelry making is still a …read more

Source:: GoldSeek

ESPN and the Bursting of the Sports Bubble

Posted by on May 23rd 2017 in Uncategorized | Be the first to comment!

By William L. Anderson By: William L. AndersonWhen the cable TV sports giant ESPN announced 100 layoffs recently, including letting go a number of high-profile broadcasters, a lot of people took notice, and well they should: things no longer are business as usual in sports broadcasting, and we are not even at the beginning of the end, and maybe not even the end of the beginning.Like the slow crashing of the retail sector as online purchase firms like Amazon begin their domination, we are seeing a sea change in sports broadcasting and that is going to mean big changes are down the road not …read more

Source:: Mises Daily

Gold, Silver Slip from 3-1/2-Week High

Posted by on May 23rd 2017 in Uncategorized | Be the first to comment!

By Precious metals futures were mixed Tuesday with palladium higher and gold, silver and platinum lower.

Gold for June delivery slipped $5.90, or 0.5%, to settle at $1,255.50 an ounce on the Comex…
[[ This is a content summary only. Visit my website for full links, other content, and more! ]] …read more

Source:: Coin News

2017-P Proof American Liberty Silver Medal Images Unveiled

Posted by on May 23rd 2017 in Uncategorized | Be the first to comment!

By Mike Unser The United States Mint published product descriptions, limits and images of the upcoming 2017-P Proof American Liberty Silver Medal.

The silver medal is one of five expected from the U.S. Mint this…
[[ This is a content summary only. Visit my website for full links, other content, and more! ]] …read more

Source:: Coin News

S&P May Disconnect Telecom Sector Index

Posted by on May 23rd 2017 in Uncategorized | Be the first to comment!

By Sinead Carew, Trevor Hunnicutt New York (Reuters) – The S&P 500 Telecommunications Services Sector index may have to hang up on investors, as its creators are considering a restructuring of the once-hot index that has shrunk to just four companies from 14.
After years of consolidation and diversification, today’s telecommunications sector would be unrecognizable to investors in the index, which was created in 1996. The index could be three stocks in the third quarter. …read more

Source:: Hard Assets Investor

Stocks and Precious Metals Charts – Breaking You

Posted by on May 23rd 2017 in Uncategorized | Be the first to comment!

By (Jesse) You’ve been let down, it’s true
Your pain is so easy to see
You’re haunted by your history
And it feels like you’ve got no escape.

Your life left you high and dry
You used to be sure of yourself
But then your whole world went to hell
And tomorrow looks just like today.

Lift up your eyes
Love is on the way
And it won’t pass you by
You just gotta reach out your hand.

Audrey Assad, Breaking You …read more

Source:: Jesse’s Café Américain

ETF Watch: Active Socially Responsible Funds Launch

Posted by on May 23rd 2017 in Uncategorized | Be the first to comment!

By Staff Legg Mason is rolling out today two ETFs that bring socially responsible investing (also called “ESG,” for environmental, social and governance) and active management together—something that’s extremely rare in the ETF space. …read more

Source:: Hard Assets Investor

Gold Seeker Closing Report: Gold and Silver Edge Lower As Dollar Bounces Higher

Posted by on May 23rd 2017 in Uncategorized | Be the first to comment!

Gold waffled between $1263.80 and $1258.40 in Asia before it edged back up to $1263.10 at about 9:30AM EST, but it then dropped back off into the close and ended near its late session low of $1250.70 with a loss of 0.67%. Silver slipped to as low as $17.026 and ended with a loss of 0.41%. …read more

Source:: GoldSeek