The historical Brexit vote last Thursday is certainly an impactful event which is still unfolding. The British people have decided to leave the European Union (EU). This messy situation will impact other countries beyond EU. For the last days, the world stock...
Gold Editorials & Commentary
June 28, 2016
Alan Greenspan, the former Chairman of the Federal Reserve has warned that Brexit was a “terrible outcome in all respects” and that we are in the “early days of a crisis.” U.K. policy makers miscalculated and made a “terrible mistake” in holding a referendum on...
June 27, 2016
Gold has probably peaked for the year. Not necessarily in US$ terms, but in terms of other commodities. In fact, relative to the Goldman Sachs Spot Commodity Index (GNX) the peak for this year most likely happened back in February. The February-2016 peak for the...
While the world continues to focus on the BREXIT, two other, much larger problems are emerging. The first is that the US is back in recession. Labor Market Conditions, Industrial Production, the Dallas Fed Workweek, Commercial and Industrial Loan Delinquencies,...
I was one of the few last week who said the stock market would fall on Friday. It has also fallen further than even I expected. So what’s next? The chart below shows a counter trend rally likely on Tuesday, perhaps back to 2049/50 SPX. This to be followed by one...
Defying sentiment polls leading up to last week’s historic Brexit referendum, British voters said “thanks, but no thanks” to excessive EU taxation and regulation, choosing to take back Britain’s sovereignty in financing, budgeting, immigration policy and other areas...
The big news this week was that the British voted to exit the European Union. This was not the outcome expected by pundits, or the polls. “Risk on” assets were relentlessly bid up prior to the vote. For example, S&P 500 index futures had closed the previous...
The British referendum should have a significant influence on the markets this coming week. It is best to keep from making specific predictions, especially about the intermediate trend, until after the results have been announced.
At long last the tyranny of the global financial elite has been slammed good and hard. You can count on them to attempt another central bank based shock and awe campaign to halt and reverse the current sell-off, but it won’t be credible, sustainable or maybe even...
There will be a new day in the UK, it will be just different. The shock of the Brexit referendum will ease, but the effects will be long lasting. In the interim, a new Prime Minister must be appointed to negotiate Article 50 with the European Union. Additionally,...
June 26, 2016
Woke up to stunning news this morning – sorry, I don’t stay up watching election results – that Britain has voted by a narrow but clear majority to leave the EU. I had feared that the British electorate would be cowed into submission by the barrage of pro-Europe...
What makes a black swan? A working definition would be the swan is an unforeseen event that has the impact to unexpectedly reroute a majority of major markets in a negative way. If an event was not foreseen, but only affects a single market, it can hardly qualify as...
Great Britain stunned pundits by voting on Thursday, June 23rd to exit the European Union. Stocks plunged globally after the vote. While there are a ton of reasons why The U.K. decided to secede, the irony cannot be lost. The fact of the matter is, what started as a...
Bravo Zulu to the people of Great Britain for deciding to kick those worthless EU bureaucrats out of their lives. Though from what I’ve read, it seems Scotland in the main voted to stay in the EU. I’m not surprised. Since the 13th century, with King Edward I, a.k...
Gold gained 1% for the week. The stock market wiped out its gains for the year. Funny how freedom confronts the artificiality of financial markets' levels, gold being at half its currency debasement value and the S&P500 at double its earnings support.
We received a batch of astounding numbers in this week’s COT report for not only silver, but also for gold. Guess what? Hedge funds are at a new all-time high on the long side exposure of gold.
June 25, 2016
It’s official – UK voters have chosen to take themselves out of the European Community and to resume taking responsibility for their own economic fate.
Today, understanding palladium is more important than ever, because there are important correlations between the palladium/gold ratio and stock market prices. Currently, the ratio of palladium to gold is giving warning signals for both the economy and the stock...
What a last 24 hours for markets! At one point Gold was up $100/oz, S&P500 futures were limit down and the British Pound was down over 8%! The volatility has subsided, perhaps temporarily and Gold settled around $1320/oz as Silver settled below key resistance at...
Gold sector is on a new major buy signal. However, the sector is vulnerable to a multi week correction which is long overdue. Silver is on a long-term buy signal. Short-term is on buy signal. However, silver is vulnerable to a multi-week correction which is long...
June 24, 2016
Technical Analysis of The Markets Via Videos.
Janet Yellen should send a note of congratulations to Nigel Farage and Boris Johnson, the British politicians most responsible for pushing the Brexit campaign to a successful conclusion. While she's at it, she should also send them some fruit baskets, flowers,...
Gold’s recent weakness has dampened bullish sentiment, but the entire precious-metals complex has actually enjoyed record early-summer strength. The summer doldrums have always been a vexing time for gold, silver, and the stocks of their miners. Without any...
BREXIT! I have to admit, I did not believe it would happen. Rather, I did not believe it would be "allowed" to happen. In retrospect I believe the elites will look back and wish they had "Diebold" doing the vote count. This vote has so many various ramifications...
Now the real ‘fun’ begins. Last night Britons voted to leave the European Union, sending shock waves around the world -- though not directly or immediately threatening the concept of European integration.
Regardless of the extent to which global fear mongers are right about the economic catastrophe that will hit every shore of the world after the Brexit, the most significant fact of the Brexit will be that the UK was the first nation to start the inevitable break-up...
The collective decision of the British electorate is to reject the recommendation of its government, excepting those of its few dissenting ministers, that Britain should remain in Europe. It is a signal failure of government policy. Above all, it is a failure that...
There has been record online sales on the GoldCore website for this time of day and the phones are ringing off the hook. We have had more sales than during the Lehman crisis and at the height of the Eurozone debt crisis. It is nearly all buying with a preference for...
With the half-year end just 5 trading days away, we suddenly have a small black gosling on the radar coming in to land. The question whether it will in fact land is perhaps not as important as to how large it will by the time it does so. As I write this on Friday...
June 23, 2016
It appeared the gap between the S&P500 and the Bloomberg Commodity Index was finally beginning to close, when we first published this chart. However, it was apparently just a flash crash for the S&P500 as the index continues to climb, while commodities in...
