Readers who have read ‘Can lightning strike twice?’ will be aware that the Friday PM gold fix was right at major long term support for the gold price. When on June 30 of 2013, also a Friday, gold fixed at $1192, it was also right on similar support – and that saw a...
Gold Editorials & Commentary
July 29, 2015
Anyone who has been bearish on gold for the last four years has been right. They have been right in Euros…and though the trend appears to have been gently changing over the last year or two, they have been right in Canadian & Aussie (i.e. commodity currencies)...
The financial press and blogosphere are still exploring the topic of Chinese reserves. Recently, some voices have arisen that China supported the recent plunge of the gold price in order to boost its reserves. Are these opinions justified?
When the market made it clear three years ago that much lower levels were going to be seen, as the bottoming set up we were tracking was invalidated in June of 2012, I put out the lower targets we have had on our metals charts for the last three years.
For some observers it came as no surprise in 2019 when the US economy suffered a collapse that was much, much worse than what had happened after 9/11; even worse than the Great Financial Crisis (GFC) that began in 2007/8. This is an attempt to pre-empt the...
An attempt by Austria to bail-in junior bondholders at the Heta “bad bank” has been overturned by the highest court in the country. Last year Austria passed legislation which annulled guarantees previously given by the state of Carinthia to bondholders of Heta,...
July 28, 2015
One of the most commonly held beliefs among gold investors is that the market for gold is heavily manipulated. It has become an article of faith among gold advocates that the price is subject to direct control by government, central banks and other parties who have...
The Gold/Housing ratio is a quite useful measure for evaluating relative values between real estate and gold, and also has an interesting historical track record for identifying turning points in long-term gold price trends. In light of the commodities rout...
The saying goes that lightning can strike twice in the same place. Perhaps it can do so and also in the same season. Just more than 2 years ago, the following chart of the gold price and part of the comments appeared in the US Markets report. In this chart, the...
Gold did not move very much in the overnight session, perhaps due to today’s option expiry. The good news is that we are encouraged by the fact that we seem to have an impulsive wave structure from 1076.60 low to the current highs!
Since around mid-June, gold prices have come under substantial selling pressure. One of the main drivers behind this fall has been the on-going debate about interest rates.
This is a busy week. Today is “options expiry day”; COMEX August gold options expire. As options expiry day approaches, gold tends to trade in a sideways pattern near round numbers, and $1100 is the number in focus now.
Casey Research is making the same case it has made numerous times over the past few years, and always been wrong: namely that now is the moment for contrarian investors to pile into gold mining stocks.
IN THE BEGINNING: Gold and silver coins were used as real money for several thousand years. Gold and silver were universally recognized as a store of value. 140 YEARS AGO: The $20 Gold Double Eagle Coin was globally recognized as money. It contained 0.9675...
While taking a short vacation last week, this article was intended to be my first one upon returning. That plan was squashed a week ago with the brutal "interventions" upon gold and silver during the illiquid overnight hours early Sunday morning. Let me add to what...
So we are now well within our long forecast downtrend. Having broken to five year lows, we are watching to see how we fall over the coming weeks…and how badly we end the month. We remain bearish in the short-term, but wouldn’t be surprised at a bounce over the...
The whole "market economy" thing is turning out to be a little trickier than China's dictators expected. To set up the story: After the 2008 crash the country borrowed about $15 trillion (an amount that dwarfs the US Fed's quantitative easing programs) and spent the...
- “I own Krugerrands” says legendary Jim Grant. - He is “very bullish indeed” on gold. - Gold is “investment in financial and monetary disorder” – says Grant. - It thrives in current environment – “uncertainty, turbulence and disorder” - “One of the most radical...
July 27, 2015
As many of you know, I was in San Francisco the week before last where I had been invited to speak at the MoneyShow, one of the biggest, most preeminent investor conferences in the world.
Trading position (short-term; our opinion): Short positions with a stop-loss order at $65.23 are justified from the risk/reward perspective. On Friday, crude oil extended losses after bearish Baker Hughes report. As a result, light crude lost 1.82% and hit a fresh...
On July 17, in the first update since 2009, the People’s Bank of China said it owns about 1,658 metric tons of gold, implying purchases of just 100 tons a year. That’s significantly less than consensus expectations and thus leaves the door open for further...
A few readers may think this editorial analysis is far-fetched and possibly unlikely. Nonetheless, it is about FIVE well-known billionaires, who have become FILTHY RICH during the recent secular bull market in US stocks.
Research Director and founder of GoldCore, Mark O’Byrne, was interviewed by Bobby Kerr on Newstalk’s “Down to Business” on Saturday morning. A range of aspects pertaining to gold and the gold market were discussed including the rarity of physical gold; the enormous...
For those who are speculating on the dollar—i.e. most people—there was good news this week. The dollar rose almost a milligram, to 28.3mg gold. That’s a big gain, and welcome news for those who keep all of their eggs in the one dollar basket, perhaps because they...
Over 2 years ago I presented my first analysis of this precious metals bear market. After extensive study of the characteristics of past bear markets, I forecast a brutal bear market that would undergo three psychological stages. The third stage would be a wrenching...
Last week, I mentioned that the technical aspect of the rally left something to be desired. This was proven correct by the SPX action in the past week. With the technical deterioration not only continuing but increasing, the 1040 level which has confined prices to...
Gold cracked support and plunged to new lows since the last update, which came as no surprise to us. So what now? We are seeing signs that a recovery rally is about to begin, but it probably won’t get all that far before a new down-leg gets underway that sees gold...
Last week saw markets top out. Therefore, it wasn’t difficult to predict resistance levels after such a strong previous two week. Consequently, there are some stocks which are holding up…so I did do some buying. So it ended up being a solid week for me and my...
July 26, 2015
One of the big questions which the gold sector may be asking is what is the low gold price doing to Chinese demand. Have the Chinese become disillusioned with gold given they piled in so strongly in 2013, when Shanghai Gold Exchange withdrawals for the year hit a...
We wrote on July 5th that Markets Become Scary: Crash Point Or Turning Point? Now, only 3 weeks later, the situation seems to be escalating. Let's get it straight: this is a serious deflationary bust in the making. The most worrisome fact is Dr. Copper's technical...
