News and Views

October 18, 2017

The GAME CHANGER for Gold

Mike responds to questions about Jeff Clark's recent story on Chinese oil imports being priced not in dollars, but yuan. And how they're convertibility into gold on the Shanghai futures exchange creates a new and large source of gold demand. ...read moreContinue Reading
The United States Mint has unveiled all the candidate designs for the Apollo 11 Commemorative Coins. In 2019, the U.S. Mint will release $5 gold coins, silver dollars, clad half-dollars, and 5-ounce... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] ...read moreContinue Reading
It may feel like we'll escape a debt crisis since, well, the world hasn't ended in spite of runaway debt levels. Some of us hard money people feel like we're taking crazy pills; how the heck can debt be so out of control, so completely unpayable, and yet the financial system keeps chugging along as if nothing's wrong? ...read moreContinue Reading
GOLD PRICES extended this week's drop on Wednesday as bullion-market executives got back to work after the LBMA conference in Barcelona, taking the precious metal's loss since Monday's brief 3-week high to 2.0% against a rising US Dollar. The single Euro currency retreated to 1-week lows versus the Dollar amid speculation over US president Donald Trump's likely choice as Federal Reserve chief when Janet Yellen's current term ends in February. Following the arrest of two political leaders in Catalonia's independence movement meantime, Spain's national government in Madrid today said it will suspend Article 155 removing all regional powers if Carles ...read moreContinue Reading
October 18, 2017

Gold Is In A Dangerous Spot

If the GDX is able to make a higher high in the 26 region in the coming weeks, then it leaves the door open that green wave (2) may not break below the July lows. However, if the market is unable to develop a higher high over that struck in September, and then breaks below the low made before the current rally began, it opens the door to the GDX dropping down towards the 17 region before year end to complete a much more protracted wave ii, as presented in yellow on the daily GDX chart. ...read moreContinue Reading
With a per-ounce price of $17.41 for silver futures as of Friday, analysts say the white metal is poised for a big climb, particularly as the gold-to-silver ratio stands well above historical averages. “Silver is definitely undervalued compared to gold and as a stand-alone investment. I consider it likely to be the most undervalued asset in the general investment markets,” says Paul Mladjenovic, author of Precious Metals Investing For Dummies. ...read moreContinue Reading
By: William L. AndersonOnce an avid reader of Paul Krugman's New York Times twice-weekly columns, I admit to rarely even glancing at his work now, since I know that anything he writes is going to have the theme of “Trump evil, Democrats good” each time, and it doesn't take long to get one's fill of that, even if one disagrees with Donald Trump's policies or cringes at some of his public statements. The real problem, however, is that Krugman also manages to endorse unsound and inflationary economic policies as a “solution” to what he calls “Trumpism.”If one reads Krugman to ...read moreContinue Reading
The next wave of sell off will be when gold and silver fall below yesterday's low. I am happy with the performance of copper and nickel yesterday. Zinc and lead just had a correction and are not in a short term bearish phase. The pace of rise of zinc and lead was way ahead of fundamentals. Hence the correction. A once-in-five-year Communist Party gathering starts today and will be closely watched. The focus will be on the team president Xi picks. ...read moreContinue Reading
Precious metals futures closed lower for a second straight day Tuesday, led by silver and followed by gold. Gold for December delivery declined $16.80, or 1.3%, to settle at $1,286.20 an ounce on... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] ...read moreContinue Reading
"Since 1970, every time asset values have risen above 520% of households disposable income (the dashed line in the chart) then the US has been in a bubble and a subsequent crash has followed.  This has simply meant asset values growing much faster than households income or households capability to sustain those price increases. The depth of each crash has been relative to the overshoot of ...read moreContinue Reading
Gold fell $12.70 to $1281.80 in late morning New York trade before it bounced back higher in the next few hours, but it still ended with a loss of 0.69%. Silver slipped to as low as $16.969 and ended with a loss of 1.05%. ...read moreContinue Reading