The U.S. inflation story made further inroads this month, with year-over-year price growth for consumers and producers alike hitting multiyear highs. U.S. consumer prices expanded at their strongest pace in more than six years, climbing to an annual change of 2.8 ...
Gold Editorials & Commentary
June 18, 2018
The best performing metal this week was silver, down just 1.37 percent. Gold traders and analysts were bullish on the yellow metal due to speculation that the now confirmed interest rate hike by the Federal Reserve could ease the dollar’s rally, according to...
The pressure on the current monetary establishment has been building steadily. Just because gold and silver has not made a major move up, does not mean that the terminal illness of the international monetary system has now gone away. On the contrary, its imminent...
Each Friday after the markets close, I usually write an end-of-week note covering the COT report which provides a forum for commentary on the outlook for the following week for the metals and the miners and allows me to sound off on events from the past week that...
Fed week is exciting for some. Gold bulls and bugs alike hope the Fed will do something or say something that will trigger a huge move in precious metals. It doesn’t work like that. The Fed follows the market, which for the Fed Funds rate (FFR) is the 2-year yield....
I hadn’t planned on submitting anything this weekend, however in light of Friday’s action I felt it may be useful. After Friday’s smashing in the commodities and precious metals market many investors are now rattled and may have bailed from the sector already. It...
On 6/13, SPX reached a recovery high of 2791.47 and started to correct the rally which started two weeks earlier and 102 points lower. On Friday, the index sold down to 2762 and closed at 2779. A three-day correction of thirty-two points does not look sufficient to...
Closing out a big week in the markets, we see the US markets rotating a bit lower after a number of news events. Some of these were very positive and others were negative. The take away from last week can be condensed into the following:
I am going to do a larger degree overview of the DXY, since I have not done one in while, and I have been getting a number of questions about it of late. So, if you are following along, please take a look at the attached monthly chart, as I go through the...
The Texas Bullion Depository officially opened for business this week. The creation of the facility represents a power-shift away from the federal government, and sets the foundation to undermine the Federal Reserve’s monopoly on money.
June 17, 2018
Large precious metals speculators raised their bullish net positions in the Gold futures markets this week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.
When two opponents are locked in a quite evenly balanced bitter and struggle, the balance tends to sway first one way and then the other as either side manages to find and exploit an opportunity until the other counters it then pulls out all stops to regain any lost...
Be it from the Golden sun of the Côte d'Azur to now the southwest corner of the Golden State, all that glitters is everything -- except Gold. Fed-Speak and Tariff-Talk both served to give Gold a Fatal Friday Finale in finishing the week yesterday at 1282, price...
I thought I’d start out with the Dow Jones’ Bear’s Eye View (BEV) chart going back to 1885 showing every bear market decline of the past one hundred thirty-three years. This week ended with the Dow Jones 5.73% from its last all-time high of January 26th, which is...
Sifting through Twitter, I came across a curious assertion posited as a reply to a post on “unemployment” on Steph Pomboy’s twitter feed (@spomboy). The tweeter asked, “have you noticed that gold is being dumped?” But was gold “dumped?” Perhaps the tweeter should...
June 16, 2018
Gold is facing what is potentially its toughest test of the year right now. Its attempt at rallying despite a strengthening dollar will test not only the buying power of the gold bulls who believe the metal can rally despite the powerful headwind from gold’s...
Our proprietary cycle indicator is up. Gold sector is on major buy signal since early 2016. Major signals can last for months and years and are more suitable for long-term investors.
June 15, 2018
Gold weathered the Federal Reserve’s 7th rate hike of this cycle this week. Gold-futures speculators and to a lesser extent gold investors have long feared Fed rate hikes, selling ahead of them. Higher rates are viewed as the nemesis of zero-yielding gold. But...
Silver soared, while gold and mining stocks moved higher and reached new monthly highs. All that despite a move higher in the USD Index. It seems to be a clear bullish combination for the PMs. The moon appears to be at hand. Is it the last chance to jump into the...
Powell delivered and hiked again. Draghi halved the amount of purchased assets, but did not have the courage to end the quantitative easing program. Does the former have bigger cojones than the latter? And what does it mean for the gold market?
June 14, 2018
I am sure you remember the lead up to Q1 2016. The US economy and stock market were transitioning from a Goldilocks environment and narrowly avoiding a bear market while the rest of the world was still battling deflation. Precious metals and commodities were in the...
The recent growth acceleration in the EU could distract attention from problems of the common bloc. Fortunately, you can always count on Italy. Whenever you start thinking that only bright future is ahead of the union, the descendants of the proud Romans remind...
Why a seemingly run-of-the-mill announcement yesterday by Fed chairman Powell might signal a major turning point for the gold market. . . and perhaps ALL markets. At the end of Fed chairman Jerome Powell’s opening statement for his press conference yesterday he...
Regular readers of Goldmoney’s Insights should be aware by now that the cycle of business activity is fuelled by monetary policy, and that the periodic booms and slumps experienced since monetary policy has been used in an attempt to manage economic outcomes are the...
Over the last 12 months, the purchasing power of your dollar has dropped at the fastest rate since 2011. According to the latest data released by the Bureau of Labor and Statistics, the Consumer Price Index (CPI) jumped by 2.8% year-over-year in May. That follows on...
According to the Gann astro/cycles and my wave counts, we are near another important top. Ideally, this top should occur on June 14/15. The next possible cycle low is due sometime between June 28/29 and July 3/5 depending on the count and final top. My preferred...
Is the cashless society upon us? Cashless society or ‘Lesscash’ society? Do you carry cash and how much? When might we see the world’s first completely cashless society? Who wins the payments battle – Apple, Google, WeChat, Alipay?
June 13, 2018
Based on the feedback I received over the weekend, I thought a quick follow-up would be in order on the topic of "deviant conundrum" because it was told to me by a wonderfully gifted retired English teacher that I was on the edges of plagiarizing my hero, Sir...
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:
Back in April, we first reported upon the surge in the use of "Exchanges For Physical" on the COMEX. We thought we should provide an update today. As a refresher, here's a link to the first report from eight weeks ago:
