Get ready for a new era of precious metals investor. That’s correct. Up until now, the primary buyer of gold and silver have been the older generation, 40-65+, but that will all change when the next financial crisis hits. The Millennials, or those in the 23-38...
Gold Editorials & Commentary
February 4, 2019
On January 6, we wrote the Surest Way to Overthrow Capitalism. We said: “In a future article, we will expand on why these two statements are true principles: (1) there is no way a central planner could set the right rate, even if he knew and (2) only a free market...
The best performing metal this week was gold, up 1.11 percent. Gold traders were bullish on the outlook for a 12th straight week and the most bullish in five weeks, according to the weekly Bloomberg survey. The yellow metal is up more than 2 percent for the year and...
HUI, the Gold Bugs Index, is close to triggering its first buy signal on the weekly chart in more than two years. The first proved to be a dud, and it sent this popular trading vehicle into a ratcheting downtrend that would have driven most bulls to the edge of...
First we need to define what a breakout actually is. Its when the price breaks a pattern or a range and a new trend is therefore established. Today, people are all too quick to refer to almost every move higher as a breakout. Just google “Gold Breakout” and you’ll...
7. Diversify, diversify, diversify – Truly balance your savings and investments. 6. Avoid leverage and speculation and focus on saving and owning quality assets. 5. Don’t make money the guiding principle for what you have or do.
The Fed didn’t just fold on Wednesday, it crumpled, capitulated. A long time ago we had figured out that when push came to shove, this is what it would do. However, we thought that it would take a market crash to force it to change course, in order that it could use...
February 3, 2019
We can categorize the decline from 2941 to 2346 as having taken place in two phases, with the first ending at 2682 and the second one starting from 2800 and concluding at 2346. The rally from the low was initially labeled as a countertrend rally with two potential...
Now before all y'all get yer boxers in a bunch over "How can you say 'Ordinary' when the likes of Franco-Nevada gained 10.6% for January?", remember: here at The Gold Update we tell it like it is.
Let see, on December 24th the Dow Jones Index found itself on the BEV chart below at -18.77%. Twenty-seven NYSE trading sessions later, the close of this week, it has increased to -6.58%. As always, a big Bravo Zulu for the Plunge Protection Team (PPT) for...
February 2, 2019
Last month the Government’s Bureau of Lies And Statistics served up an employment report purporting 312,000 new jobs in December. This despite massive seasonal retail lay-offs in the latter half of the month. The BLS happily counts those jobs when hired in October...
Official gold purchases reached a new record in 2018 as central banks continued to diversify away from the U.S. Dollar. Not only was 2018 a banner year for central bank gold purchases, but it was also the highest amount for more than five decades. Central banks...
Our proprietary cycle indicator is up. Gold sector is on a major sell signal. GLD is on short-term buy signal. Long-term – on major sell signal. Short-term – on buy signals. Gold sector cycle is up. The pullback has ended with breakouts this week.
February 1, 2019
We recently closed our GDXJ trade for a 10.5% total profit with our members. We are preparing for a lower price rotation over the next 45+ days that will allow us to plan for new long. Our research indicates the metals/miners should enter a downside price rotation...
Here are today's videos and charts.
– Central banks buy gold in largest buying spree in a half century. – 2nd largest year of gold purchases by banks on record – WGC. – Central banks bought more gold bullion last year than anytime since 1967, prior to the U.S. ending the gold standard in 1971.
While some may have been confused by Fed Chairman Powell's circular statements in yesterday's press conference, the takeaway should be abundantly clear: the period of Fed tightening, is over. The Fed will now hold steady on interest rates, and when they move again,...
January 31, 2019
Gold markets were rocking on Tuesday, lifted by a basket of factors that included poor stock market performance earlier in the week, slow growth in China, weak earnings reports and expectations the US Federal Reserve would strike a dovish tone at its two-day meeting...
During the lackluster and otherwise unremarkable trading of 2018, a hugely important development took place in the precious metals markets. Gold production, in the estimation of some top industry insiders, peaked.
Gold prices (weekly chart) formed an impressive inverse head and shoulders formation during a five-year base. Gold prices, which bottomed in December 2015, should climb the wall of worry.
As the stock market cracked on October 10th we noted… Looks Who’s Holding Firm Amid the Carnage; the Gold Miners. And sure enough the GDX bottoming pattern noted in that post (and before that in an NFTRH subscriber update) played out perfectly amid the stock market...
– Gold breaks out of range to highest in 8 months after dovish Fed. – Fed keeps benchmark interest rates unchanged (range between 2.25 percent and 2.5 percent), will be ‘patient’ on future hikes and “flexible” on its balance sheet as indebted and vulnerable US...
January 30, 2019
Many of you know that I have an affinity towards gold and silver mainly because it is no one else’s liability and I don’t have to rely on a promise to get repaid. “Gold is money- all else is debt” JP Morgan.
West Virginia legislator Delegate Pat McGeehan (R-01) has introduced the West Virginia Sound Money Act, House Bill 2684, to eliminate all tax liability on gold and silver in the state.
An improving technical picture can be a key driver of the institutional fund flows that will be necessary to drive COMEX gold and the mining shares upward in the weeks ahead. However, let's make one thing perfectly clear before we go any further...
Are you sick of your gold just sitting there when it was supposed to have long since made you rich? Have you been fantasizing about a world in which your gold really does make you rich? If so you’re in good – or at least numerous – company.
– “World’s most dangerous hotspot” is in the South China Sea. – Currency and trade wars can lead to shooting wars warns Rickards. – Chinese buildup in South China Sea like ‘preparing for World War III’ says US senator (see news)
January 29, 2019
Two years ago at a conference during which I both presented and attended, a Keynote speaker, "Rich Dad" Robert Kiyosaki, introduced me to a different way of looking at things. He posed the question, "How many sides does a coin have?"
The magnificent gold price rally has paused in the $1300 area for the past few weeks. Monday was COMEX option expiry day. With that now out of the way, gold is already staging more upside action!
Bitcoin’s hot streak is well and truly dead. The cryptocurrency has not been able to crack above $4,000 in three weeks just 12 months after trading at more than $12,000.
