Gold and Silver Market News and Reviews
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By: Jordan Roy-Byrne, CMT (January 31st, 2015)
Gold has performed very well under the circumstances of declining inflation and a surging US$ index. Since 2014 the US$ index is up nearly 18% while Gold is up 3%. Since Gold’s November low the US$ index is up over 10%. Had we known that at the time, we’d have thought Gold would be headed for $1000 and not the $1300 it recently hit. At present, the US$ index appears ripe for a correction or major pause in its uptrend. Given that Gold is priced in US$ and that Gold has shown strength in real terms, sustained US$ weakness could be a major boon for Gold and precious metals as a whole.
By: Clive Maund (January 31st, 2015)
As you are doubtless aware we are living in a new paradigm – the age of global QE has arrived. Amongst the major power blocs it started with the US, spread to Japan, which adopted it with a particular gusto, after suffering from deflation for decades, and just has been taken up by Europe in a big way, after waiting for half its young people in many constituent countries to become unemployed due to the ravages of deflation. Smaller countries will have to join in or their currencies will soar and they will become uncompetitive.
It is vital to understand that, having become a universal policy, QE is here to stay – this is a genie that can’t be put back into the bottle. The reason is that any attempt to reverse course and rein it in would quickly lead to soaring interest rates because of immense debt levels, a global market crash and a liquidity crisis, in other words a deflationary implosion. Another important to note is that in this “Golden Age of Fiat” where money does not have to be backed by anything and where our masters are accountable to no-one, they can indulge in as much QE as they like.
By: Adam English, OutsiderClub.com (January 29th, 2015)
What if I told you that your gold could be multiplied over and over... that a single bar of gold can be turned into a nearly endless hoard of the yellow metal?
I certainly couldn't blame you if you think I was either full of it or living in a fantasy land. But it's true. And all you need to get started is a central bank, a bullion bank, and a bunch of greedy brokers.
Pass around that gold bar, and it'll turn into a nearly infinite supply of gold...
Welcome to the bizarre reality we know as gold rehypothecation.
By: Peter Cooper, ArabianMoney.net (January 29th, 2015)
Elliott Wave theorists, and there a lot of technical chartists that follow their work too, argue that gold still needs to put in one last low price before it can be said to have completed the classic wave formation and then power upwards in a big price spike. If so how could this happen?
If we look back to how gold behaved in the 2008-9 Global Financial Crisis then the answer is pretty clear. In a really big market sell-off gold will tumble out of bed along with everything else. The good is sold off with the bad in such situations as many investors will have urgent margin calls from their brokers that demand immediate liquidation and gold is always eminently liquid.
By: Henry Bonner, SprottGlobal.com (May 3rd, 2014)
John Embry said last month that the rally at the beginning of the year was encouraging, but to remember that sentiment for gold was still extremely negative. He says that the stock market’s new highs are a result of the Fed ‘jamming cash into the economy.’ With nowhere else to go, cash is creating bubbles in stocks, real-estate and bonds, he warns.
By: Andrew Hoffman, MilesFranklin.com (May 3rd, 2014)
On his weekly podcast, Andy Hoffman discusses the precious metals suppression, Sunday night sentiments, the Dow, physical demand for silver, drop in home sales, increase in food prices, Japan, labor force, gold and silver.
By: SRSroccoReport.com (May 2nd, 2014)
Not only did Canadian Maple Leaf sales shatter all records in 2013, their percentage gain was twice as much compared to Silver Eagles. The Royal Canadian Mint just released their 2013 Annual Report and sales of their Silver Maples were the highest on record.
You see, there’s a new Silver Sheriff in town, and it happens to be located north of the U.S. border. While Silver Eagle sales and growth were impressive in 2013, Silver Maples outgunned the competition by a wide margin.
By: Alasdair Macleod, GoldMoney.com (May 2nd, 2014)
Gold kicked off the week at just over $1300 before declining to a low of $1278 yesterday. Most of the time prices just moved sideways, drifting lower from time to time to test support. And when support materialised, the price quickly reacted upwards, because no bullion bank really wants to sell; instead they are trying to close short positions as profitably as possible.
By: Dr. Jeff Lewis, Silver-Coin-Investor.com (May 1st, 2014)
The low hanging fruit of retirement assets currently overwhelm any return on investment for punishing gold and silver investors. This is in addition to the very liquid numismatic and graded coin markets - which add another layer to the complexity of enforcing or confiscating metals.
Precious metals are something that a person should buy/trade in order to protect themselves from widespread economic collapse. Any macro view of the economy reveals an ultra slow motion form of this playing out as you read these words.
By: Andrew Hoffman, MilesFranklin.com (May 1st, 2014)
Today is May Day in Europe and Labor Day in China smack in the middle of Japan’s “Golden Week.” In other words, one of the year’s thinnest global trading days – with the U.S. being one of the only major markets open. Three years ago, May Day fell on a Monday; providing optimal conditions for the Cartel to launch a last-ditch effort to prevent a global silver default, via its heinous “Sunday Night Silver Price Massacre.”
By: Peter Cooper, ArabianMoney.net (May 1st, 2014)
The bear case most popular these days goes like this: the US economy is recovering, interest rates are going up so gold will be more expensive to hold and go down in price.
It’s an inconvenient truth then that US GDP managed a whopping 0.1 per cent annualized growth in the first quarter. Rising job claims suggest Friday’s non-farm payrolls number may be another huge miss.
By: Patrick A Heller, CoinWeek.com (April 30th, 2014)
If you asked the average person on the street if government should be responsible for establishing monetary standards and the issuance of circulating money, I suspect that a very high percentage would agree.
In my judgment, those who think that way would be wrong.
By: Kevin Michael Grace, The Gold Report (April 30th, 2014)
With gold hovering around $1,300 an ounce, there's not much room for error, says Duncan Hughes of RFC Ambrian. In this interview with The Gold Report, Hughes counsels that investors should seek high-grade, low-cost projects with exploration upside in stable jurisdictions. He suggests three such companies in West Africa and another with silver, gold and antimony resources in Chile and Australia.
By: Greg Hunter, USAWatchdog.com (April 30th, 2014)
Jim Rogers thinks sanctions on Russia over the Ukraine crisis are bad for the dollar. Rogers says, "This just pushes people further away from the U.S. dollar. I don't like saying this because I am an American, but the U.S. dollar is a terribly flawed currency. We're the largest debtor nation in world history, and now we are telling people you'd better be careful if you use the U.S. dollar. We may take it away from you. We may block you. Of course, people are going to look for an alternative."
Rogers is also a best-selling author that most recently wrote the book "Street Smarts: On the Road and in the Markets." Where is he investing his money? Rogers reveals, "I own real assets. I own agriculture." Is Rogers afraid of a systemic crash in the global economy? His reply, "Aren't you? I don't think it will happen over Ukraine, but it could because politicians do very foolish things."
By: Julian D. W. Phillips, Gold/Silver Forecaster (April 30th, 2014)
In addition to the latest excellent study of the Chinese gold market by the World Gold Council, we have received other reports on the Chinese gold market that differ with the conclusions drawn by the World Gold Council. But we shouldn't be surprised by this, not only because of the opaque nature of the Chinese gold market and the dearth of accurate statistics that are accessible. Which ones are right is critical for the conclusions each draw paint very different pictures of the future of the gold price.
By: Jeff Clark, CaseyResearch.com (April 28th, 2014)
I wrote to Silver last week, and she answered back. I’d like to share our correspondence with you…
Happy anniversary. It was on April 25, 2011 that you hit $49.80 per ounce in the New York spot market.
Today, three years later, you sell for around $20, nearly 60% less.
Is your bear market almost over—or are these low prices here to stay? Your price has lagged gold this year, so your normal volatility is lacking. How much longer will you be stuck?
Jeff Clark, silver investor
Here’s her polite response:
Dear Mr. Clark,
I have good news for you. While some investors have lost interest in me and my price is at 2010 levels, things will soon change.
By: Greg Hunter, USAWatchdog.com (April 28th, 2014)
When the spot price of gold is higher than the future price, it's a rare occurrence called "backwardation." James Turk from GoldMoney.com says, "The weird thing that has happened and it's never happened in history, when the gold price was driven down last year to its lows in June 2013, gold went into backwardation, and since then, it has been in backwardation more than 50% of the time. The only other times backwardation occurred were in 1999, with the lows in gold, and 2008, with the lows in gold. After both of those backwardations, the gold price soared."
Turk, who recently co-wrote a book called "The Money Bubble," goes on to say, "Sooner or later, we are going to go over the cliff as we did in 2008. They saved the system, the system in 2008, but I don't think this time around they are going to be able to save the system. So, you have to prepare for it."
By: Peter Cooper, ArabianMoney.net (April 28th, 2014)
The catastrophe for financial markets now unfolding in the Ukraine will have a very positive upside for gold. If Russia invades eastern Ukraine this week what price will gold be by next weekend? $1,350? $1,400? Or much higher?
Only on Friday did the penny begin to drop on Wall Street in the final hours of trading. If the Russians have been orchestrating this crisis right from the start, what is their end-game? Are the 40,000 troops massing as close as a kilometre to the border just there for window dressing? Why do things keep getting worse on the ground in Ukraine?
By: Brittany Stepniak, OutsiderClub.com (April 25th, 2014)
In Alan Greenspan's days, the idea of a housing crisis was insane, but guess what — the housing crisis came anyway.
So even if you are more comfortable believing that the Fed has since gotten its act together and there's no way another epic crisis could come in light of the latest tapering miscalculations and confusion, think again.
After the Fed's last secret meeting, committee members struggled to get on the same page and outside experts predicted a looming global crisis.
While the U.S. faces this current predicament — figuring out how to best taper all that money-for-nothing that's been whimsically printed for the past few years without sending the economy crashing — the rest of the world has its eyes on China, waiting for the final misstep that really shakes things up...
By: Bud Conrad, CaseyResearch.com (April 25th, 2014)
After World War II, the dollar became the world’s preeminent currency. Convertible to gold at $35 an ounce, it was the backbone of international trade. Foreign central banks used it to back their own currencies.
Nixon removed the dollar’s convertibility to gold in 1971, rendering its value dependent on prudent management by its issuer. That issuer, of course, is the Federal Reserve—which conjures dollars into existence to support the US government’s spending habit.
The Fed has issued a lot of dollars since 1971, and even more since the financial crisis of 2008—thanks to Washington’s exploding debt levels. And it’s only going to get worse, as even the Congressional Budget Office (CBO) admits in its own forecasts.
By: Alasdair Macleod, GoldMoney.com (April 25th, 2014)
Gold is now extremely oversold, with emotional opinion in paper markets unanimously bearish. Traders tell us the 200-day moving average is well and truly broken and the next support level is $1260. However, when gold broke down through the $1280 level yesterday it rallied sharply to test the $1300 level in a one-day spike reversal.
By: Jim Willie, SilverDoctors.com (April 25th, 2014)
Systemic failure and its pathogenesis have been over 50 years in progress, with countless events. The origin is found with the cabal murder Kennedy, but the climax finale will be found with the Saudi Petro-Dollar rejection and the arrival of Eastern gold-backed currencies. The pathogenesis is fierce, vicious, multi-faceted, coordinated, enforced, unstoppable, destructive, vile, with many unfortunate aspects and facades. The extreme vulnerability of the financial crime syndicate can finally be seen, the symptoms obvious. If somebody had asked Greenspan in 1995 whether the day would ever come when the US Federal Reserve would install Zero Interest Policy and keep the 0% rate in place indefinitely, then install Quantitative Easing and keep the bond monetization in place permanently, approximately 0% of the experts would say the day would arrive. But here it is. In early 2009, the Jackass forecasted that the arrival of official rate cuts would result in ZIRP Forever. In mid-2011, the Jackass forecasted that the arrival of official unsterilized bond monetizations would result in QE programs in a long series. In 2013, the Jackass forecasted that QE would continue and Taper Talk would be abandoned, resulting in QE to Infinity. It is the New Normal, and Sir Alan Greenspan is aghast, unable to defend the current monetary policy.
By: Dr. Jeff Lewis, Silver-Coin-Investor.com (April 25th, 2014)
Silver and gold price sentiment is an unmentionable reflection of the desires of central banking, backed by a currency enforced by decree. Real price discovery is the forbidden yet beating heart of darkness - where few are willing to travel.
A million barriers are self-constructed to protect the sinister truth. And a million barriers rise up to justify price action, whether up or down.
By: Lawrence Williams, MineWeb.com (April 24th, 2014)
Did no-one tell Goldman Sachs equities analysts Andrew Quail and Jitendra Pandey that the same company’s Jeffrey Currie is still saying that gold is a ‘slam-dunk’ sell and that the gold price will collapse to around $1,050 an ounce by year end, and may go even lower on the way. If so one assumes they don’t believe this ultra-downbeat forecast, which so far this year has been pretty wide of the mark. But then it’s early days yet.
By: Peter Byrne, The Gold Report (April 24th, 2014)
Despite the ongoing attack of the short-sellers, the fundamentals of gold and silver production are increasingly robust. ROTH Capital's Joe Reagor tells The Gold Report why he believes the price of gold is steaming toward $1,500/oz, with silver prices following in the wake. Reagor highlights several junior precious metals miners in a market that is out to prove the bears on Wall Street wrong.
By: Shivom Seth, MineWeb.com (April 23rd, 2014)
India's Commerce Ministry came out in favour of axing restrictions on gold imports.
"The present gold import policy is workable only for a short distance. When this policy was conceptualised, it was for a limited objective...the Department of Commerce has taken a very clear decision that this policy is not sustainable in the long run," Commerce Secretary Rajeev Kher told media persons.
By: Bill Holter, MilesFranklin.com (April 23rd, 2014)
When I first saw this survey of Chinese consumers I had to take a step back and wonder exactly “who” did it. Much to my surprise, the WGC (World Gold Council) who is more “anti-gold” than any group or agency that I know of was the culprit. If they say that 25% of Chinese consumers plan to buy 24kt gold or jewelry in the next 12 months…you can bet that the real number is much higher because as long as I’ve been following gold, the WGC has done nothing but steer people away from it. In my opinion they have consistently underestimated global demand and overestimated global supply since I have followed them.
By: Pater Tenebrarum, Acting-Man.com (April 22nd, 2014)
Last week, gold's rebound was cut short after Goldman Sachs and Morgan Stanley concurrently issued bearish reports on the gold price, which were widely trumpeted in the press (although it is such an allegedly unimportant asset class, gold gets an unusual amount of attention in the financial media – and there is almost always a bearish spin associated with the reportage. This is largely independent of whether the price is in trending up or down). It is of course de rigeur on Wall Street to hate gold, unless it is really overpriced, in which case it gets a little love out of sheer necessity.
By: Greg Hunter, USAWatchdog.com (April 21st, 2014)
Macroeconomic researcher Rob Kirby thinks the global economy is in deep trouble. What is the problem? Kirby contends, "The real problem is with the money itself. We need to revert back to real capitalism which is real weights and measures and honest commerce. Otherwise, we are going to devolve into a very dark period of feudalist oppression."
Why is this happening? Kirby thinks, "It doesn't really matter who occupies the Oval Office. The office of the President has been captured, and it has been captured by the bankers. We are living under banker rule. What we are witnessing, in real time, is this experiment with central banking, and fiat money is failing. The evidence is written all over the walls. It's completely clear. Anyone who is not paying attention to this, at this point, is delusional."
By: SRSroccoReport.com (April 21st, 2014)
In the past week, the Shanghai Futures Exchange suffered another large withdrawal of silver from its warehouse stocks. Actually, this is the lowest level of silver inventories since the exchange started building its silver stocks in August, 2012.
By: Rudy J. Fritsch, GoldSilverWorlds.com (April 21st, 2014)
I have written many articles explaining and expounding on the Unadulterated Gold Standard, on how the world economy is doomed to collapse unless an ultimate extinguisher of debt… Gold… is re-introduced into the system.
I have written about the technical aspects, the moral aspects, the historical aspects… yet people still resist, still don’t want to know. They hope that hope alone will keep them out of trouble… and at best, most want a quick and easy explanation of why we should bother with Gold; in effect, they ask for a sound bite. Well, that is easy enough… here is the sound bite; “Gold, the Real Thing!”… end of sound bite.
By: Bob Kirtley, Gold-Prices.biz (April 17th, 2014)
This is a distressing time for gold and silver bulls like me who are constantly on the lookout for a turnaround in the precious metals sector. I’m confident that it will come but not just yet, as a final capitulation has not taken place.
By: Dr. Jeff Lewis, Silver-Coin-Investor.com (April 17th, 2014)
The mainstream is on an academically-driven mission to politicize conspiracy theories and lump them all into the same category. While gold and silver manipulation is an ancient conspiracy fact, eyes are wide shut to the general awareness in the face of one revelation after another.
By: Bill Holter, MilesFranklin.com (April 17th, 2014)
I received a reply to my article and a question yesterday from John Embry of Sprott Asset Management. He asks, “Where” the silver has come from to supply the excess demand over these past years. I have reprinted his question and then my response to John. I will follow my reply at the bottom with some parting comments and a more in depth explanation.
By: Dan Hassey, UncommonWisdomDaily.com (April 17th, 2014)
Gold has been trading in a range around the psychologically important $1,300 level, and yesterday was no exception.
While the day-to-day fluctuations in bullion prices are oftentimes more headline-driven than fundamentals-driven, gold investors and traders need to understand where prices are in relation to the prevailing long- and medium-term trends.
Knowing these trends can help you to make better strategic decisions about whether to hold, hit the exits or "back up the truck."
By: Alasdair Macleod, GoldMoney.com (April 17th, 2014)
Many decades of Keynesian-inspired economic and monetary corruption have left advanced economies with a legacy of debt and low savings. In a nutshell, that is the problem which is driving us into another financial crisis. That moment could be drawing upon us, signalled by the recent collapse in bond yields.
This nearly happened in 2008. It was bought off by an open-ended central bank guarantee of infinite quantities of cash and credit, initially by the Fed, rapidly followed by all the other major central banks. Six years later, monetary medicine is still being applied globally in unprecedented quantities. And in some countries bank credit has finally begun expanding more rapidly than before.
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