It is my privilege now to welcome in Greg Weldon, CEO and president of Weldon Financial. Greg has over three decades of market research and trading experience, specializing in the metals and commodity markets, and his close connection with the metals led him to...
Gold Editorials & Commentary
July 23, 2018
Benjamin Franklin was purported to have said “that which hurts, also instructs.” Yet, society, as a whole, has a very short memory. Thus, lessons learned through the pain of generations gone by often are quickly forgotten.
The price of gold fell another ten bucks and that of silver another 28 cents. Perspective: if you’re waiting for the right moment to buy, the market is offering you a better deal than it did last week (literally, the price of gold is a 7.2% discount to the...
The USD has had a bullish run out of it’s Intermediate and Yearly Cycle Low (YCL) in early February but it is now deep in my timing band to start seeking out its next 5-6 Month Intermediate Cycle Low (ICL). While I don’t want to overplay the negative correlation...
The big question I’ve been grappling with recently is the inflation or deflation theme. Last Friday’s price action felt like a counterpunch to the deflation scenario as the US dollar fell pretty hard and interest rate reversed. It was almost exactly a year ago...
Last week, SPX reached its ~2800 P&F target and started to form a short-term top. By Friday, the hourly indicators had given a sell signal and the daily had continued to increase their negative divergence pattern, suggesting that a short-term correction was...
July 22, 2018
To say that President Trump is a new breeze blowing out of the White House might seem as something everybody knows. The difference though, it would be an insult to liken him to a ‘breeze’; perhaps a tame tornado would be more apt. Although there are some observers...
After a brutal few weeks in precious metals, you’d expect trend-following speculators to be heading for the exits. And the most recent gold and silver futures action — aka the commitment of traders (COT) report — shows exactly that. Which is good news.
High-country greetings from Squaw Valley at 6,200 feet -- but without an Olympic Gold medal, the metal for which we must extend low-price greetings at $1,232/oz. 'Tis the level at which Gold settled yesterday (Friday) in officially closing out the week below The Box...
This week’s market commentary, as it has been for the past few months is tedious. But that isn’t my fault. What’s to say about a market which since early March has been four months of hurrying up and waiting? Waiting for what?
July 21, 2018
Far too much analysis is put out there linking gold with inflation. It is true that gold often acts as an effective inflation hedge, but it all too often fails in that capacity. Far too much analysis is put out there linking gold with war, terror, pestilence and...
Long-term – on major buy signal. Short-term – on sell signals. Gold sector cycle is up. COT data is now at levels of previous bottoms. Conditions are now favorable for overall higher prices in coming weeks and months. We are holding gold related ETFs for long-term...
July 20, 2018
This past week I was invited to be a keynote speaker at Rick Rule’s Sprott Natural Resource Symposium. And every year, gold is a key topic on everyone’s mind. Let me remind you of a very old saying…
Money manager Michael Pento predicts, "The U.S. is not an island. The U.S. is not going to have 4% GDP growth while the rest of the world implodes.
Gold’s summer doldrums are dragging on this year, with this asset slumping longer and lower than usual. Several converging factors are responsible. The stronger dollar has convinced gold-futures speculators to sell aggressively, and gold’s downside momentum has fed...
New information suggests that the cost to produce gold is much higher than what the market realizes. As the cost to produce gold has skyrocketed over the past two decades, the mining industry has hidden certain costs by placing them in their capital expenditures. ...
Now that the "summer doldrums" for the metals and miners seem to be upon us – which may or may not last until after Labor Day – it might be worth your time to "measure" your precious metals' holdings.
July 19, 2018
The trading action in the paper gold markets of London and NY this week further convinces me that gold is being pushed down in price by the western Central Banks similar to the take-down in the paper price that occurred in 2008. The motive is to prevent a soaring...
With the first half of 2018 now behind us, it’s an opportune time to look at what's been happening in the Chinese Gold Market. As a reminder, China is the largest gold producer in the world, the largest gold importer in the world, and China’s Shanghai Gold Exchange...
In today’s globalized economy no market can move entirely on its own. They are all connected in one way or another. But not all links are equal – some are barely noticeable, while others are so strong that it’s impossible to dismiss them. In case of the gold market...
In his book Nobody Knows Anything, my friend Bob Moriarty wrote about the difference between signal and noise. Unfortunately, much of the information in the gold space or what passes for such is really noise. Conspiracy theories around manipulation, price...
July 18, 2018
The recent currency and debt crises in Argentina and Turkey raise questions about the condition of the global economy in general and the emerging countries in particular. Are they merely isolated events without broader implications or are they canary in the emerging...
In the 2nd July Weekly Update we discussed the risk posed by the recent weakening of China’s currency (the Yuan), and commented: “We won’t know for sure until China’s central bank publishes its international currency reserve figure for June, but the recent weakening...
I always love reading titles to articles that tell me I am about to read a bunch of "reasons" as to why a market is going to do something. So, I thought I would write my own. When someone presents you with such an article, this is what they are really saying:
This market is in the “biggest bubble in the history of mankind,” Ron Paul told CNBC’s “Futures Now” last Thursday. “I see trouble ahead, and it originates with too much debt, too much spending,” Paul said.
July 17, 2018
For every promising investment opportunity, you come across, there are multiple opportunities for bad-faith brokers and hucksters to try to rip you off.
The world’s greatest asset is on sale. In China, India, and the Western gold community, shoppers are happily placing small amounts of “golden groceries” into their shopping carts each week, and enjoying the price sale.
The first gold ETF was launched in 2003. Since then, ETFs have revolutionized the gold market. How? And, by the way, what is the relationship between gold and climate change?
The markets are in serious trouble as the extreme oil price volatility continues to devastate the global economy. Investors and analysts today are totally clueless because they have become the frogs burnt to a crisp in the frying pan. Over the past several decades...
– Global debt time bomb surges to nearly a ‘Quarter Quadrillion’ ($250T). – “The $247 trillion global debt bomb” Washington Post warn.
