Gold Editorials & Commentary

I was originally going to do the Weekend Report on the very long term charts for the markets but after last Friday’s trading I decided to mix it up a bit with some shorter term charts. It seems like everyone is either looking for that 10% to 15% correction right...

Here are a few charts I hope everyone will find interesting. First is a short term step sum chart for gold. We see gold’s last upsurge (Blue Plot) was terminated three years ago in August 2011. Back then market sentiment (Red Step Sum Plot) was rising along with...

The Dow continues its tremendous rally from recent lows. I have stated before that it is my opinion that this is a bear market rally. Has anything happened to change that opinion? Nope, but I’ve sure got a good case of the heebie-jeebies! Let’s revise the charts to...

Since the late 1960s I have understood that the gold price is the ultimate barometer of fear in the world economy. Of course, I have not had a monopoly on this understanding and, in particular, the world’s central banks have also understood it. It is for this reason...

The momentum indicator turning positive, by the black line moving over the descending red trend line, has produced a peak that touches the rising long term trend line on every occasion. That is EVERY occasion!! The momentum indicator for the HUI has once again...

Recently I was interviewed by Jerry Slusiewicz of the Southern California radio show, Your Money Talks. This show is heard in Orange County and the Greater LA Inland Empire on KSPA am 1510 and KFSD am 1450 in North San Diego County. In the segment we discussed the...

Mr. Lassonde says timing isn’t nearly as important as recognizing great business models – like Franco-Nevada or NewGold -- and being patient. Franco-Nevada is currently the top holding of Sprott's new ETF, the Sprott Gold Miners ETF (NYSE: SGDM). As of July 31, 2014...

In our opinion no speculative positions in gold, silver and mining stocks are now justified from the risk/reward perspective.

Are you prepared for an “exit”? If the Fed pursues an “exit” from ultra low interest rate policy, are you prepared for an exit from the stock market should things turn South? We discuss how investors prepare, noting the most common mistakes investors make along the...

In any market, but especially precious metals, price pullbacks rarely proceed according to expectations. Most “buying opportunities” are perhaps better defined as gulags and torture chambers. Regardless, it’s almost impossible to build retained wealth without...

There is a story about the great Catalan surrealist painter Salvador Dali. It is said that in the last years of his life, when he was already famous, he signed checks knowing that they would not be submitted to the bank for payment. Rather, after partying with his...

In 1950 the US owned about 20,000 metric tons of gold – approximately 640,000,000 troy ounces. By August 15, 1971 when President Nixon “temporarily” closed the “gold window” that hoard had decreased to about 8,100 tons (Fort Knox, the NY Fed, and other locations...

After the 2000-2002 recession, the Federal Reserve remained fixed on holding down short-term interest rates in efforts to stimulate demand in interest-sensitive sectors of the economy. Corporations – particularly those with low quality balance sheets – were quick to...

In the first of this three-part series on managing expectations, I discussed the role cycles play in the investment management process. At U.S. Global Investors, we actively monitor both short- and long-term cycles, from the annual seasonality of gold to four-year...

Through the recurrent bubbles and collapses of recent decades, I’ve often discussed what I call the Iron Law of Finance: Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors...

Below is a combo chart that shows the TLT:GLD ratio chart on top and the GLD on the bottom. This chart shows you when the ratio is falling GLD is rising and when the ratio is rising GLD is falling. Notice back in 2008 the ratio was at its high and GLD was at its...

The US$ price of gold has soared +377% from 2001 to date. That’s a compound annual growth rate (CAGR) equal to 13.4%. Contrast gold’s monumental appreciation with the pathetic performance of the Shanghai Stock Exchange Index and the miserly return of US Treasuries...

The German index, the DAX, has been Europe’s shining light in recent years. But dats about to change if my analysis is correct. Let’s proceed with a top down approach beginning with the yearly chart to put it all in perspective.

BIG PICTURE – Over the past few weeks, geo-political tensions have increased in various parts of the world and we have also experienced a sovereign debt default. Despite these developments, the majority of the stock markets have held up relatively well and so far,...

SPX had a good rally after meeting its stated downside target. Last week’s behavior -- which found strong overhead resistance exactly where it should have -- has brought an aura of uncertainty about what comes next. At the very least, some consolidation should be...

The step sum is a single item Advance – Decline Line. In other words; if gold, silver or the Dow Jones is down from the previous day’s close, we give it a value of (-1), if they end the day up from the previous day’s close, we give it a value of (+1). So a step...

The Indian stock exchange, the BSE SENSEX, seems relatively neglected compared to its more famous counterparts in the US and UK. But with a country in excess of 1 billion people, I feel it should garner more respect on the world stage. Based in Mumbai, the home town...

The US government’s decision to apply more sanctions on Russia is a grave mistake and will only escalate an already tense situation, ultimately harming the US economy itself. While the effect of sanctions on the dollar may not be appreciated in the short term, in...

I will answer the title's question first with a flat "NO" and then explain. Thursday, Vladimir Putin made the comments "Russia should aim to sell its oil and gas for roubles globally because the dollar monopoly in energy trade was damaging Russia's economy"... and...

Long term – on major sell signal since Mar 2012. Short term – on mixed signals. Gold sector cycle – down as of 8/8. COT data suggests a top is in for the metals.

The metal had developed a long-term inverse "head and shoulders" pattern on the chart. This is a bullish pattern that often signals the reversal from a bear market to a bull market.

Gold C&H Patern, Silver Slow Stokes, GDX Tentative Breakout & GDXJ Target Zone Chart Analysis via videos.

The gold stocks are almost certainly in the early stages of a major new upleg. Given the widespread apathy and antipathy still plaguing this beaten-down sector, that’s hard for most traders to swallow. But the gold stocks’ performance this year has already been...

Outside of the sound practice that is physical gold ownership in a time of monetary gamesmanship, the precious metals sector is all about speculation, at least according to 9 out of 10 chart jockeys and momentum junkies micro managing every short-term twist and turn...

On June 30, U.S. authorities announced a stunning $9 billion fine on French bank BNP Paribas for violations of financial sanctions laws that the United States had imposed on Iran, Sudan and Cuba. In essence, BNP had surreptitiously conducted business with countries...