Gold Editorials & Commentary

Technicals -

Icebergs floating around a sea of lust . .

Although our own database goes back 200 years, the Jastram study is the best to use not only because it contains data back to the year 1560, but because Jastram was able to keep the basket of commodities he used consistent from 1560-1976, and because I am able

After spending most of October and November in a relentless runup, the Dow Jones Industrials may finally be losing steam.

Although fear and greed usually drive the stock market, they took a back seat to investors' third deadly sin in mid-October, when brash certitude reared its ugly head among the bears.

In his 1841 book, Extraordinary Popular Delusions and the Madness of Crowds, Charles MacKay describes several investment schemes gone awry, including Tulipmania, the Dutch flower frenzy that redefined European garden styles while making and breaking huge fortun

Summary: The global equities markets have enjoyed and extremely bullish rise from early October to the present, with many market indexes retracing 100% of their previous losses or more.

Technicals -

Contemplate the enormity of the following. There are 1.2 billion Chinese, 1.0 billion Indians and 1.1 billion Arabs in the world. That represents nearly 60% of the world's population. Your response might be, "SO WHAT?!" …Well, here's the WHAT!

A short-term market top? That's the most obvious interpretation of this week's push against a rising-tops continuation channel, simply as both a straight-line shot above previous highs argued, and as the most-likely outcome for a market conditi

Technicals -

There is no common definition of the terms "inflation" and "deflation" and certainly not much agreement even generically as to what they are. Most consumers feel inflation is when they must pay more for goods and deflation is when commodity prices decline.

Our currency, the beloved Federal Reserve Note, is printed by the Bureau of Engraving and Printing on 15th Street in Washington, D.C., and in Pyongyang. The Pyongyang printing is unauthorized, and small-time---only about 20 million yearly.

The last two months in the U.S. equities market have been nothing short of nerve wracking, especially for investors of a bearish mindset (as we have maintained throughout).

Joining the "shooting stars". . .light parade in the skies, a number of high-flying Internet stocks are at risk of suffering the same fate as the meteor particles, at least in the fullness of time.

Technicals -

It is widely known the crushing debt of Southeast Asia caused its demise last year when their currencies, stock markets and economies were totally devastated - with only the behemoths China and Japan being able to stave off the inevitable.

Ah, those incomparable Canadian junior gold mining stocks. Where else in these troubled financial times replete with deflation, volatility and falling prices can one find such comfort, such joy, such amazing profit potential for so little?

It is widely recognized that the roaring engine of the U.S. economy is showing the signs of wear and tear from its high octane performance over the past several years - and almost certainly will slow down in the coming months.

The article began like it was right out of our Forecast '97 and Forecast '98 annual reports:

A practical definition of the word shortage as it pertains to a tangible commodity would evolve around supply being insufficient to meet demand.

Canadians, much more so than Americans, are inveterate goldbugs. They are especially fond of gold mining stocks and exploration companies—as well they should be since so much of Canada's economy depends on the market condition of the yellow metal.

Financial Panic . . . truly gripped the Street, not so many weeks ago. Aggressive Fed ease was called for here, weeks in advance to calm things, and to psychologically help stabilize currencies abroad, and thus indirectly our markets.

Technicals -

Bears will have some explaining to do if the current stock-market rally achieves new record highs.

Our call this week . . was for a "pop-up" after Elections to convince many others on the Street that it's onward & upward once again.

The technical outlook in gold is looking better than it has in quite some time and it is starting to be confirmed by a rapidly improving fundamental picture as well.

This week U.S. investors were reassured that the Clinton Administration's agenda to "do something" about the global economic crisis is, in fact, now being implemented.

The outlook for U.S. stocks, while somewhat mixed, is still firmly bearish based on our indicators. A serious decline in the major indices is still a distinct possibility as we head into November.