Gold Editorials & Commentary

Time to bust yet another hole in the “stocks are cheap” argument. As we’ve already noted earlier this week, based on the only valuation metric that can’t be massaged, stocks are more expensive than they were in 2007 and on their way to tying the all-time high...

Gold has had a wild ride since Trump’s surprise election win in early November.  This metal first plunged then surged, ultimately making little headway.  It wasn’t until mid-April that gold regained its pre-election levels.  This overall lackluster gold action was...

Ten years ago, U.S. Global Investors embarked on an experiment in digital communications. Let me set the stage. It was April 2007, when the financial crisis was not yet a blip in the capital markets. The Dow Jones Industrial Average was holding steady above 13,000,...

This time, the U.S. central bank did not make us wait too long for the next hike. Just three months after the hike in December, the Fed moved interest rates up again. Although the pace of the current tightening cycle is extremely gradual, the U.S. central bank is...

There’s this notion put forth by the majority in the precious metals community that the Fed and Central Banks control the market price of gold.  I have even heard that some analysts believe the Fed could push the gold price anywhere they saw fit…even to zero.  While...

In last week’s Insight article, America’s Financial War Strategy, I described how the Chinese government viewed the geopolitical scene. It is clear from earlier remarks by the Peoples Liberation Army’s senior strategist, Major-General Qiao Liang, that the view in...

Gold has lost 1.5% since the close last week. The French election outcome supported risk assets, and traditional safe havens like gold, US Treasuries and the Yen got sold.

What happens when new currency is created with few limits by central banks and commercial banks? Answer: Far too much debt and currency are created. Central Bank Balance Sheets have increased by $10 trillion in the last decade and $1 trillion YTD in 2017.

Trump’s first 100 days in office have been a whirlwind but so far the ‘Trump Trade’ of being long stocks has worked for investors and speculators. Will markets continue to be so forgiving of the many foreign and domestic policy failures including the failure to...

An up thrust soon exceeding 1290.10 would put bulls squarely back in charge. At that point our minimum upside objective would be 1315.10, a Hidden Pivot taken from the hourly chart where A=1248.20 on April 10. Alternatively, if the futures fall for a second...

On the heels of gold and silver continuing to consolidate gains, the war in the gold and silver markets continues as the commercials (Fed, BIS, bullion banks) shorts in the silver market just hit a new all-time record! As we know the silver futures short positions...

The US Congress runs up against their self-imposed borrowing limit once again this week. During the last tussle over the borrowing cap in October 2015, Congress agreed to schedule this week’s political theater to occur well after last Fall’s elections.

Traders could bottom-fish there with a stop-loss as tight as four ticks, but I’ll recommend this only to those of you who have caught a piece of the short on the way down.

Gold bullion imports into China via main conduit Hong Kong more than doubled month-on-month in March, data showed on Tuesday as reported by Reuters.

A tsunami of inflation is rapidly moving through the financial system. Most investors only pay attention to the Federal Reserve. And they are missing the BIG PICTURE for Central Bank monetary policy. The Fed is tightening policy by hiking rates. But the rest of the...

Gold price enthusiasts are wondering why the recent rally has suddenly lost its “mojo”.  Some analysts worry about the GDXJ ETF portfolio rebalancing, and others are focused on the global stock markets rally.

OK, drama’s over. The French election has turned out pretty much exactly as expected. For all that some of the papers are leading with “French revolution” headlines, the reality is that a face-off between the right-wing Marine Le Pen of the Front National and...

The Federal Open Market Committee is set to meet in early May to decide whether it will continue to raise rates. Now, traders are pricing in this event already, and they’re expecting rates to remain unchanged, just a few weeks ahead of the meeting. The yield curve...

With the first round of the French elections over and a potential beginning of the end for the Eurozone might be within sight, this is only one of the macro-political events that are causing gold prices to be within 1% of shuttering its 10-year resistance level.

This week I will be in Washington, D.C., attending Evercore ISI’s Energy Policy & Geopolitics Conference, where I will be visiting senior staff from the White House infrastructure team and House Energy and Commerce Committee. I will also be meeting with John...

Last week spot gold closed at $1,284.77, down $3.11 per ounce, or 0.24 percent. Gold stocks, as measured by the NYSE Arca Gold Miners Index, ended the week lower by 3.62 percent. Junior-tiered stocks outperformed seniors for the week, as the S&P/TSX Venture...

The gold sovereigns – semi-numismatic gold coins made up of both gold sovereigns and half gold sovereigns dating from the reigns of Victoria, Edward VII and George V – were discovered inside an old piano after it was donated to a school last year.

Many commentators like to speculate on where the dollar-denominated gold price is ultimately headed. Some claim that it is destined to reach $3,000/oz, others claim that it won’t top until it hits at least $5,000/oz, and some even forecast an eventual rise to as...

Wall Street and our central bank are in for a rude awakening very soon! The idea that the US economy is on stable footing and about to experience a surge in growth is ridiculous. Hence, the consensus that the Fed can normalize interest rates and its balance sheet is...

This was also a holiday-shorted week. As we write this, the big news comes from the election in France. The leading candidate is a banker named Emmanuel Macron, with about 24% of the vote in a 4-candidate race. The anti-euro Marine Le Pen came in second with just...

SPX ended the week in a near-term neutral position as it probably awaits the result of the French election to decide on its next move.  Whatever it turns out to be, the intermediate correction is still in force, and lower prices are expected before it ends.

As seen in the Bear’s Eye View (BEV) chart below, the last all-time high for the Dow Jones Index happened on March 1st.  Since then however, it’s been slowly deflating.  The post-election run up in the Dow Jones (enclosed in the Red Circle) was an excellent advance...

Our last two weekly missives have highlighted gold's being technically "high" near-term, (yet fundamentally undervalued -- understatement -- in the broadest sense). And as the above panel shows, gold remains higher than where 'twas at this time a year ago (1236),...

Both speculation and open interests are expanding, positive for overall higher prices. 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.

If it’s not in May it will very likely be in June. When the Fed will finally be forced to be honest and admit that it is wrong on the economy and therefore will have to drop its tighter monetary policy with as consequence that precious metals assets will skyrocket....