John Rubino

John Rubino Articles

The past few months have added some cred to the “sell in May and go away” rule of thumb for precious metals, as gold’s price action has been both boring and depressing. It’s now close to its 12-month low, while a lot of miners are...
In a normal business cycle, the economy expands for a while and businesses hire lots of new people at somewhat higher wages, generating enough tax revenue to shrink the government’s budget deficit – and in rare cases produce a surplus. So...
The yield on Italy’s 10-year bond is up by about 100 basis points from its 2018 low. Meanwhile, its government continues to borrow money and roll over its existing debt. But now it has to do so at ever-higher interest rates, which means it...
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...
Beginning in early Spring, gold and silver faced two serious headwinds: Seasonality – that is, the annual decline in bullion demand from China and India once wedding season ends – and the internal structure of the futures markets, where...
Gold’s failure to take off like a rocket when conditions become this favorable has been a puzzle for its fans. One explanation that has gained a lot of, ahem, currency is that it’s been replaced of late as the world’s safe haven asset by...
Monthly economic readings tend to be full of noise and are therefore unreliable. So it’s best to save the excited assertions for established trends. The US Consumer Price Index appears to have reached that point:
This has been a uniquely boring stretch for gold and silver – especially given all the things going on in the world that ought to light a fire under precious metals. In just the past few weeks, the US started a global trade war, Italy...
For most of the past few years, emerging market stocks and bonds were among the favorite investments of everyone from hedge funds to pension funds to retirees.
Everyone seems to agree that if interest rates keep rising a recession and equities bear market will ensue. But no one knows where the breaking point is in terms of, say 10-year Treasury yields. So it’s become a topic of debate with a lot...

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A gold nugget can be worth three to four times the value of the gold it contains because they are so rare.