Gold Editorials & Commentary

After a few months of slower growth, FMQ has picked up again. FMQ is the sum of True Money Supply (as defined by the Austrian School of Economics), plus the banking system’s reserves and other banking-related liabilities on the Fed’s balance sheet.

1970s: Gold rallied from about $35 in 1970 to nearly $200 in December 1974…and then fell to about $100 in August 1976. So what? Examine the graph of average monthly gold prices Jan. 1970 – Sept. 1976. Compare it to the graph of gold prices from April 2002 –...

It finally looks like a major inflection point is getting very close to resolving itself in many different areas of the markets. The US dollar is the key driver of this inflection point which is starting to breakout from a nearly eight month bullish falling wedge...

WOW! I know no other way of saying it than to say that the Fed took everyone by surprise. I certainly did not expect this Fed, this timid FOMC, to sound such a hawkish note. As dovish as Draghi and the ECB sounded last week, the Fed sounded hawkish this week. Talk...

The primary focus this week is again on the “all powerful” Fed. If the Fed leans toward a rate hike in December, gold could come under pressure again in the short-term. However, if it leans toward raising rates next year, then gold would be expected to eke out...

Calling your attention to two recent stories, the debate over the debt limit and Russia's new moves into the Middle East, are they mutually exclusive or are they somehow connected?

I thought it only fitting in honour of Halloween to provoke a little discussion on The Dead, Zombies, and those Prematurely Declared Dead. My subject is the Junior Mining Sector. But I’m not going to be too ghoulish and hopefully not too pessimistic.

The latest data for the weekly Commitment of Traders (COT) report, released by the Commodity Futures Trading Commission (CFTC) on Friday, showed that large traders and currency speculators reduced their overall net bullish positions in the US dollar last week for a...

I am amazed at how investors have such short memories. Yet, it probably explains why the public makes the same mistakes over and over when it comes to investing. When QE3 was announced in 2012, everyone cried in unison “gold is going to the moon.” However, we, at...

A – 1913: Gold was money in the United States. Double eagles ($20.00), Eagles ($10.00), and Half-Eagles ($5.00) circulated freely. Silver dollars and smaller coins were common and used for commerce. And then the bankers created “The Federal Reserve.”

On October 2 the BLS reported absolutely atrocious employment data, with virtually no job growth other than the phantom jobs added by the fantastically wrong Birth/Death adjustment for all those new businesses springing up around the country.

Gold was extremely quiet in the overnight session, and we did reach a high of 1167.10. Gold has still not given us the confirmation we need to say that wave ^iv^ or some other more bullish corrective wave has definitively ended at the 1158.90 low.

Gold is the world’s ultimate asset. So, even when nothing important is occurring in the market, investors can experience “ultimate greed” or “ultimate fear”. Because the quality of the asset is so high, it’s crucial that investors are emotionally able to buy gold...

Even though the price of gold failed to make a decisive break above the 200 day Moving average, the price looks set to continue its upward trajectory. However, one can expect some resistance close to the 200 day MA at around the $1185 an ounce level.

Seven years of extraordinary fiscal and monetary stimuli are proving ineffective towards achieving the growth and inflation targets laid out by the Federal Reserve. The Consumer Price Index (CPI), the Producer Price Index (PPI) and Gross Domestic Product (GDP) have...

Everybody who's owned gold and silver mining shares through a couple of cycles has their favorite story of the stock that took off and ran away. There was Glamis Gold, which rose from $1 to $40 in the space of a few years before selling out to Goldcorp. And Silver...

In my two “Gold Is Not Money” posts (HERE and HERE) I explained why it is not correct to think of gold as money these days, and in a subsequent post I explained why it was not correct to view gold as an economic constant (there is no such thing as an “economic...

"The clear and present danger is, instead, that Europe will turn Japanese: that it will slip inexorably into deflation, that by the time the central bankers finally decide to loosen up it will be too late." ~ Paul Krugman, "The Euro: Beware of What you Wish for",...

Last Thursday I had the pleasure of attending an intensive daylong ETF conference in Austin, just up the road from our office in San Antonio. Hosted by Cantor Fitzgerald, the conference was designed for institutional investors.

The usual suspects in the gold bug and perma-bull camps got their panties all wet last week when the yellow metal briefly set a four-month high of $1184 per ounce. Of course when the price backed off a bit, the conspiracy theorists immediately played their trump...

The charts below show that the recent rally is just fodder for the beast. Prior to the last FED meeting on September 17, I warned of an impending sell-off due to the FED's statements. The S&P500 fell from a high of 2020 to a low of 1871 in 8 trading days or...

As expected Gold has been breaking out of its triangle formation and quickly pushed higher. So far $1,191 has been the high of this move - still way below my target at $1,237. Unfortunately during the last seven trading days the bullish momentum has been slowly...

Gold traders are maintaining their bullish calls on the precious metal for the third week in a row. Of the 24 traders surveyed by Bloomberg, 13 hold a bullish outlook on gold. Gold got a boost this week as China announced further interest rate cuts and the ECB re-...

I have some free time tonight and the better part of the day tomorrow to post a few charts before I have to catch my flight home on Tuesday. I just want to thank you again for your patience. Let’s take a quick look at the daily INDU chart I posted on Wednesday that...

As hinted at here since the DJIA held at and started to bounce off 16000, recovery to 18000 must have a very high priority as a signal for the man on the street that the US economy is really healthy. Thursday and Friday saw a substantial 480 point jump in the DJIA...

More and more institutions are trying to make it harder for you to move your money into cash. Globally, over $5 trillion in debt currently have negative yields in nominal terms, meaning the bond literally has a negative yield when it trades. In the simplest of terms...

Michael J. Kosares has over 40 years’ experience in the gold business. He is the founder and executive director of USAGOLD (both the website and gold brokerage service), the author of three books on the gold market, and the editor of "News & Views," the firm's...

We believe the stock market has started a massive Bear Market that could last many years. The top arrived for the Industrials in May 2015. Since then, a new Primary Dow Theory Bear Market Signal was generated.

"What's up, Doc?" Try the Dollar, the Stock Market ... and Gold. Who knew? Surely such positive correlation amongst these three specific markets is a phenomenon not normally found in nature. But on the heels of our having noted a week ago how un-October-like things...

For stock-market bears; in the years following 2009 watching the market on a daily basis has been much like watching paint dry. But just as paint does eventually dry, this market will resume the crash it began in Oct 2007.