"Gold priced in sterling surged to the highest level in more than seven weeks as Prime Minister Theresa May failed to win an overall majority in the U.K. election, signaling further political turmoil less than a year after Britain voted to leave the European Union...
Gold Editorials & Commentary
June 9, 2017
The World Economic Forum, in conjunction with Mercers (the actuaries) recently estimated that the combined pension deficit currently stands at $66.9tr for eight countries, rising to $427.8tr in 2050. The eight countries are Australia, Canada, China, India, Japan,...
Since mid-December the precious metals sector is in an uptrend. Especially gold has been acting very well while the mining stocks are basically consolidating since early February. After their phenomenal rally in the first half of 2016 they probably now need the...
June 8, 2017
US Stock Markets just keep going higher and higher! How much higher will they go? I am FORECASTING another 25% higher for US Stocks! The ‘bullish trend’ from the breakout continues, as expected. Breadth has become strong, once again, including a new all-time high...
There is something happening in the commodities complex that has been going on for a while, now that needs to be addressed tonight. A subtle change actually started earlier this year and has been gaining momentum especially in the energy sector.
Gold prices could see strong intraday volatility – analyst. * UK election, Ex-FBI director testimony, ECB meeting set for later in the day. * Downside for gold is “limited” (especially in sterling)
June 7, 2017
In what should come as no surprise to anyone around here, the banks are once again creating as much paper metal as necessary to stall an advance in price. Already twice this year we've seen this happen in Comex Digital Silver and now the banks are working their...
Yesterday, gold broke a nearly six year-long downward sloping trend line that goes back to its all-time high of $1921 in August of 2011. Gold has not managed to cross above this trend line, currently at around $1280, since then, although it has come close a number...
In the previous edition of the Market Overview we wrote that “geopolitical risks clearly won with a hawkish Fed in a tug of war in the gold market” at the turn of March and April, as the yellow metal gained about 7 percent from mid-March to mid-April. However, the...
Tuesday’s feisty rally exceeded the 1296.40 rally target we’d been using by a relatively modest $2.40, but because the pattern associated with the target is so clear, even as small an overshoot as occurred will have bullish implications going forward.
The number of S&P500 companies reporting negative earnings is rising rapidly. Why does this matter? It matters because this usually signals right before a stock market peak.
Conventional wisdom states the following: When the Fed raises interest rates, the USD will strengthen and demand for dollar-denominated commodities such as gold will decline. This is true (theoretically speaking) because gold is a non-interest-bearing commodity that...
Gold prices have broken out above the six year downtrend (see charts) due to a 50% surge in Chinese demand and increasing safe haven demand internationally.
The price declined again today as called for by last night’s wave count. The target at 10940 was met, todays low so far reached 109.22. The declining trend channel suggests one more decline to meet the line once more. That could happen at about 108.70 at which point...
June 6, 2017
Gold is the world’s ultimate asset, and another spectacular week is underway for investors. While May was mostly sideways (and lower for many gold stocks), it’s starting to look like the month of June could be a serious “barnburner”.
With the US dollar taking another hit last Friday on a weaker-than-expected jobs report, gold closed up 1.12 percent for the day. A Bloomberg gauge of 72 junior miners, however, has lost 15 percent since the end of January, and the rebalance of the VanEck Vectors...
The bounce in Treasury yields witnessed after the election of Donald Trump is now decaying in the D.C. swamp. If the Fed continues to ignore this slow growth and deflationary signal from the bond market and continues along its current rate hiking path, the yield...
This post is a rehash of something I wrote at TSI last September in response to the article titled “The Gold Standard and Debt Jubilee“. The article is a confused jumble of Marxist, biblical and capitalist ideas/assertions, but its gist is that we need both a debt...
Banco Popular’s shares crashed another 17 per cent yesterday to record lows amid concerns the Spanish bank may have to be “wound down” and could see bail-ins of investors and depositors.
June 5, 2017
The best performing precious metal for the week was palladium, up 6.17 percent. Consumer demand is rising for gasoline- versus diesel-engine powered vehicles, yet automobile sales have started to relax in recent months. According to Bloomberg, gold bulls outnumber...
I was shocked by Friday’s announcement by the CFTC of an order and simultaneous settlement of manipulation charges in COMEX gold and silver futures. I first saw it in a Zerohedge article and subsequent articles on Bloomberg and in the Wall Street Journal, but all...
Since 2008 the financial media has been proclaiming that the US was in a “recovery.” This argument was used to justify the insane monetary policy of the Federal Reserve, which maintained ZIRP for seven years and spent over $3 trillion in QE.
The jobs report was disappointing. The prices of gold, and even more so silver, took off. In three hours, they gained $18 and 39 cents. Before we try to read into the connection, it is worth pausing to consider how another market responded. We don’t often discuss...
A summer evening on London Bridge and in Borough Market ended in terror on Saturday as attackers killed seven people and injured 48. This is the second terrorist attack on British soil in less than two weeks and the the third this year. The attack was immediately ...
We “went walkabout” over the past several years, largely deserting the Precious Metals sector for other greener pastures, because it has been performing so poorly, apart from a dramatic flurry during the 1st half of last year. However, the latest charts suggest that...
Last week, SPX re-tested support and moved to new all-time highs. With all indicators showing positive momentum, the correction appears to be over with a new uptrend starting. The latest re-accumulation area gives us a count to about 2500. Unless some negativity...
June 4, 2017
Recall the Monty Python line "A minute passed quickly past"? 'Tis how the year 2017 feels to us. The geometrically-increasing pace of unrelated, and moreover, unimportant items beset upon us on a daily basis is blurring the very passage of time itself.
As expected, the Dow Jones Index saw two new all-time highs the past week (Thursday and Friday). Just how much higher can the stock market go? On a point basis I really don’t know, could be enough to surprise me. But on a practical basis, for only as long as the...
Quite the week for stocks as we continue to notch new highs after new highs. Get it while the getting is good. The metals also did great and gold is on the cusp of a big move. Everyday there is just so much political jargon it’s hard to ignore, but I do try my best...
June 3, 2017
Ever since 2012’s failure of the ‘QE 3 rally’ in the precious metals, it has not been fruitful to micro manage the gold sector, because that failure jump started a savage bear market that would need time to work out the excesses both in the sector’s investor base...
