Debt Binging! We can’t let this benchmark event pass without remarking on it. The US national debt hitting $22 trillion, I mean. It’s quite an achievement. All of that money, all $22 trillion of it, had to be borrowed. And borrowed it was, despite the fact that every lender knows it can never be paid […]
More on the Central Bank Gold Rush
Central Banks Continue the Gold Rush The importance of the rush of the world’s central banks to buy gold cannot be over-emphasized. After all, how could a class of gold buyers that already own 30,000 tons of gold and are intent on acquiring more not deserve our full attention? We think that this move to gold is a […]
Monetary Scapegoats
We spotted a foreign news story the other day that is right out of the paper money fraudsters’ playbook. We wanted to highlight it for you because it is a play that governments and central banks run again and again, seeking to deflect blame from themselves for their destructive practices. Turkey’s monetary policies have been […]
The Bullish Picture of Gold and Silver
Just over two weeks ago gold broke through the $1,300 per ounce level. At the time we described for you the technical picture for gold, writing, “Gold’s bullish outlook is also confirmed by a look at the charts. This week gold’s closely watched 50-day moving average broke above its 200-day moving average. This ‘crossover’ is […]
Follow up on Bonds
Shelter from the Storm The US Treasury’s borrowing needs are about to explode, as we wrote last week, and for more reasons than growing deficits. Consider the convergence of some of the contributory factors: The Fed has proposed that it will clean up its balance sheet, swollen by Quantitative Easing (QE), with Quantitative Tightening (QT). That means […]
Market Notes and Quotes
Sometimes key insights and financial news, things that shed light on the value of the dollar, the solvency of the country, and gold, come our way at a furious pace. As part of our commitment to keep our clients and readers informed, we occasionally assemble them in one post. Cities Can’t Pay Their Bills […]
Central Banks are on a Gold Shopping Spree
Central Banks Continue Agressive Acquistions of Gold The world’s central banks were aggressive gold buyers in 2018, according to a new World Gold Council report. The banks’ gold acquisitions jumped an astonishing 74 percent over the year before. Altogether central banks added 651.5 metric tons to their official gold reserves in 2018, according to the WGC. Driven in part by […]
Fed to Borrow $1 Trillion to Finance Deficit
A Trillion Here, a Trillion There… A Bloomberg story begins with this headline: U.S. Treasury Set to Borrow $1 Trillion for a Second Year to Finance the Deficit. A trillion here, a trillion there, and pretty soon you’re talking about real money. That phrase, adapted from a quote attributed to the late Illinois Senator Everett Dirksen sometime in the 1960s, […]
The Fall of the Venezuelan Economy
The New Venezuela Q: How many Venezuelan bolívars does it take to buy an ounce of gold? A: Who cares? It’s a good joke because no one we know, or can reasonably imagine, would be willing to trade perfectly good gold for bolivars, knowing full well that the bolivars taken in exchange today will likely […]
Gold Breaks $1,300 to Hit Seven-Month High
Gold Breaks $1,300 Gold broke through $1,300 an ounce on Friday, roaring up $22.70 on the day, and closing in New York at a seven-month high of $1302.50. That’s the second time in this new year that gold has punched through $1,300. At the beginning of the month it tested that level but didn’t hold. […]
China Adds 10 Tons of Gold to Its Reserves in December
it’s China’s Turn… Just last week we reported to you on Russia’s aggressive gold acquisition. We wrote, “Russia, seeking to protect itself from a dollar crisis, continues to reduce its holdings of US Treasury bonds while beefing up its gold stock at an accelerated pace. The Bank of Russia, the central bank, bought 8.8 million […]
Sam Zell is Buying Gold
Sam Zell, realestate billionaire, is buying gold for the first time in his life. It’s enough to make us sit up and take notice. Sam Zell is a real estate billionaire many times over. His Wikipedia entry repeatedly uses the word “largest” to describe Zell’s accomplishments. His company, Equity Group Investments, Wikipedia tells us, […]
Russia Adds Gold, Surpasses China… (For Now!)
Russia Agressively Adding to Their Physical Gold Position Russia, seeking to protect itself from a dollar crisis, continues to reduce its holdings of US Treasury bonds while beefing up its gold stock at an accelerated pace. The Bank of Russia, the central bank, bought 8.8 million troy ounces of gold in 2018, increasing its total gold holdings by […]
Inflation Unchained: Part Two
Currencies are Being Inflated to Eventual Worthlessness In our last post, we wrote that “A hundred years ago a dollar bought roughly 0.05 ounces of gold. Today the dollar buys only 0.00077 ounces of gold.” “Something changed, but it wasn’t the gold.” Of course, the same kind of value destruction that has taken place with […]
Inflation Unchained: Part One
Inflation: Prices are Rising All Around Us They deny it. They suppress it. They even ignore it. Then it bursts out into the open and suddenly it can’t be ignored any longer. I’m talking about rising prices. Those of us that watch the economy like a hawk keep a close eye on things like the consumer and producer price […]
Still Time for the Gold and Silver Strategy
Gold and Silver Ratio: It’s Not Too Late Both gold and silver have shown impressive strength lately. Regular readers of these comments will note that we repeatedly urged clients to take advantage of the Gold/Silver Ratio late in 2018. (See our December 14 post, Time for Silver to Play Catch Up! and September 30 The Gold-Silver Ratio is Making a […]
The Fed: Mighty, but Flighty!
Audit the Fed Washington is a land of hypocrites. You probably don’t need any convincing but let me give you one example because it is relevant today. In 2010, Congressman Ron Paul’s bill to audit the Federal Reserve had 320 sponsors in the House of Representatives. No surprise that it had so many sponsors. Their constituents were […]
Gold Targeted at $1,425 Over Next 12 Months
Wall Street Can No Longer Ignore Gold Gold’s bullish performance in the face of political, geopolitical, and economic confusion is exactly what we have been expecting and writing about. Now, even though they would like to, Wall Street – the money center banks and brokerages – are finding gold hard to ignore. Political, geopolitical, and […]
Making Sense of the Markets
The Wild Ride in the Stock Market Continues… “Get the defibrillator! Grab the paddles!” The flatlining stock market was jolted into an appearance of life at the end of the week by two electro-cardio interventions: The first jolt was the release of the employment numbers. The Drudge Report shouted the news with this headline: “JOBS UP BIG! +312,000. RECORD NUMBER […]
Gold and Silver Performance Over Last Six Months
A Few Words about the Last 6 Months of Gold and Silver Charts… Gold, as I mentioned last week, remains above its 50-day moving average (MA), and moved decisively above its 200-day MA about the same time the Dow Industrials broke down below its 200-day MA. (The moving average is the average closing price over […]
Watching the Fed’s Actions in 2019
The Fed is on the Razor’s Edge We enter 2019 on the financial razor’s edge. One wrong move, one little slip by the Federal Reserve, and the money supply and price inflation could explode. That’s not just my view. I’m citing the views of a former chairman of the Senate Banking Committee. In a Wall Street Journal article this week, former […]
Ten Things That Won’t Happen in 2019
The end of the year calls for new year predictions, so here are 10 things you won’t see in 2019… 10. The Federal Reserve won’t stop managing the monetary system to benefit the banks that created it to serve their interests in the first place. 9. Foreign central banks won’t increase their dollar holdings, although […]
Confidence in the Fed
Trump Criticizes Fed, Chairman Powell It’s not hard to see that confidence in the Federal Reserve is collapsing. Usually the Fed quietly booms and busts the economy for its own reasons and escapes unnoticed for it, like a thief in the night. But President Trump has changed that, unleashing a firestorm of criticism on the Fed and Chairman […]
Things You Need to Know About Bear Markets
About Bear Markets Here are a few things you need to know about bear stock markets, some bullet points from CNBC: A “bear market” is when stocks see a 20 percent decline or more from a recent high — but they’re also marked by overall pessimism on Wall Street. Since World War II, bear markets have lasted […]
The Stock Market has Topped Out
We’ve Seen the Top of the Stock Market We’re flattered at the number of our clients and readers that have reached out to comment on our calling the top of the stock market last fall. And our repeated recommendation to ”take any stock market profits and move them into gold.” There’s an old saying that nobody rings a bell at the […]
The Fed Rate Hike
Another Hike So, President Trump’s objections notwithstanding, the Fed raised interest rates once again on Wednesday. That’s its fourth rate hike this year. The Fed does not seem to realize the stress the US economy is under: stress from stock market volatility, political uncertainty, trade wars, threatened hot wars, growing deficits, big debt, global de-dollarization, […]
Market Bubbles Popping
Bubbles are Popping They used to call him “The Maestro.” That would be Alan Greenspan, the former Chairman of the Federal Reserve. Greenspan knows something about bubbles, having engineered several of them during his 18 plus years as the chief money manipulator. The worst of the bunch was the housing bubble that burst in 2008. […]
Time for Silver to Play Catch Up!
Time for Silver to Play Catch Up! Have you taken advantage of the Gold-Silver ratio yet? The recent bounce in gold has so far happened without a similar move in silver. That might be about to change, according to Saxo Bank A/S. Ole Hansen, head of commodity strategy at Saxo Bank, tracks the ratio […]
Fundametal Numbers
Fundamental Numbers A recent Reuters Business News headline advised readers that, “Foreign buyers find U.S. Treasuries less appealing.” This may be news to their readers, but not to ours. We have talked and written about this many times. In many ways the US is shooting itself in the foot, driving the rest of the world […]
Thanks Fed, for Shorter, Poorer Lives
Thanks, Fed! 2018-12-11 Researchers at the Federal Reserve know what they have done to the Millennial Generation, and it isn’t pretty. But don’t expect them to stop. Ryan McMaken at the sound money, free market Mises Institute has examined a new Fed report on how the Millennial Generation is doing at this stage of their […]
Watch This One Carefully…
Watch This One Carefully… Sometimes the things that move the markets the most violently – gold, silver, and other markets as well – are things that aren’t on most people’s radar screens. Front and center in the attention of economic and financial news observers is the on-again, off-again trade war with China. I do not […]
The January Gold Spike
Gold in Indian Tradition With the turn of the calendar page to December, the holiday season is underway. Here and throughout the Western world it means a jump in consumer spending for Christmas presents. But the approach of the New Year means something else in other parts of the world. It often means a big, cyclical jump […]
Federal Reserve Acknowledges Potential Plunge in Market Prices
I have been warning about the overvalued stock market for some time. Because we are clearly moving into a very troubling economic period, I have suggested you take profits you have in stocks and move them to the safety of gold. The problems that I have described are so apparent that even the Federal Reserve […]
Monetary Lab Experiments
The failure of a currency is not a pleasant thing. It is usually accompanied by widespread social unrest, crime, impoverishment, and ruin. Venezuela is like a laboratory experiment in currency failure – something going on before out very eyes. Of course, a lab experiment is useful only if something is learned from it. Yet there […]
The Next Bear Market According to Jim Rogers
When a Legendary Investor Speaks, We Should Listen. Jim Rogers deserves his reputation as a legendary investor. Right now, Rogers says the next bear market in stocks will be “the worst of my lifetime.” Rogers knows something about stock bear markets. The bear market of the 1970s was brutal for stocks, but during […]
Something’s in the Air – 11/19
Something’s in the Air- 11/19 Another Stock Market Sell-Off. The Drudge Report headline Thursday morning read, “STOCKS ERASE GAINS FOR YEAR; TRILLION WIPED OFF TECH; GOLDMAN: BOOST CASH. Another wave of selling in the stock market was no surprise to our readers. It’s been a rout in Nasdaq stocks. We have already pointed out the […]
Debt, Debt, and More Debt
Debt, Debt, and More Debt Here’s the headline: US Household Debt Hits Record $13.5 Trillion As Delinquencies Hit 6 Year High. A New York Fed report says that “that total household debt rose by $219 billion to reach $13.51 trillion in the third quarter of 2018—an increase of 1.6 percent, up from a rise of […]
Dragging Gold Down
Dragging Gold Down It’s been a pretty bloody few weeks in the oil trading pits. From the high at the beginning of October of almost $77 per barrel, the benchmark price of West Texas Crude fell to around $55 this week. A sell-off of that magnitude in any market is a big deal. It’s a […]
Stop Digging
Stop Digging When you find yourself deep in a hole, the best advice is to stop digging. Governments that find themselves in a fiscally unsustainable situation must either stop digging or destroy their currencies. When the hole is too deep to climb out, you can be sure that a crisis looms ahead. Of course, it […]
Three Items of Note
1. WELL, NOW. THIS IS DIFFERENT! With President Trump’s firing of Jeff Sessions, the new acting Attorney General is Matt Whittaker. Whatever else he may believe and ultimately do in his new position, we have learned that Whittaker has a more sensible view of the nature of money, the Fed, and gold than 99.9 percent […]
No Change
You may be cheered or dejected by the results of this week’s election. Certainly, there is something for everybody on the political spectrum to find either encouraging or discouraging in the outcome of Tuesday’s voting. But our beat is money: the dollar, spending, debt, the Fed, and the monetary system. In short, all the things that […]
It’s Still Money– and They Know It!
One day, not so many years ago, in the middle of testimony before the House Banking Committee, Federal Reserve Chairman Ben Bernanke was asked a question by committee member Congressman Ron Paul. “If gold is not money,” asked Paul, “why does the Federal Reserve insist on owning it?” It is an important question, one that […]
Something in the Air!
What War Means to Gold and Silver Through centuries of invasions and wars, conquests and collapses, occupations and upheavals, there is one constant: In such a crisis, the go-to money is some form of gold or silver: coins and bars, jewelry, art, watches, and even silverware and tea sets. While wars are one of the […]
Paper Money’s Last Hurrah? Trump fears the “Crazy” Fed
Consumer Goods Prices are on the Rise President Trump says the Federal Reserve is “the biggest threat” to his presidency. He is afraid the Fed will create a new recession. “I think the Fed has gone crazy,” he said last week. The stock market is noticeably nervous about the Fed as well. But the Fed may […]
What’s It Mean When the Stock Market is Breaking Down & Gold is Running Up?
It was a rough week for the stock market. Commentators and headline writers are calling it everything from a rout to a bloodbath. The Dow Industrial average is down 8.4 percent from its recent record high. The Nasdaq market is 13 percent lower, while the S&P500 is off about 10 percent. The fun of the last […]
Warning Signs Still Flashing!
October 24, 2018: Investors hit by another DOW tumble as another 608 points are lost. – The stock market has given up all of its 2018 gains. – The Dow Industrials have already lost 7.1 percent of their value just this month. – The NASDAQ is currently having its worst month since November of 2008. […]
Help a Millennial Today!
Help a Millennial Today! As the stock market sell-off continued this week, I saw a headline that asked if Millennials are about to get slaughtered. Could be. Millennials, generally agreed to be those born between 1981 to 1996, are about a quarter of the US population. They are almost 30 percent of the voting age […]
In a Nutshell
In a Nutshell: Hungary is Buying Gold Here’s a little noticed item that tells the whole story. The central bank of Hungary has just announced a 1,000 percent increase in its gold holdings. That’s right. It increased its gold reserves 10-fold! And it did it all in the first two weeks of October! Here’s what’s […]
What We’re Up Against: Government Accounting
What We’re Up Against: Government Accounting There are a lot of things fishy about the way the government operates. But nothing is fishier than government accounting. That’s a problem for us all, because government accounting helps determine the prospects for the US dollar. The financial news outlets this week are filled with stories about the Fiscal Year […]
Weapons of Global Financial Warfare
Weapons of Global Financial Warfare The establishment financial press denies it. Experts laugh at the idea. Few people think about it. But…There are a lot of weapons aimed like arrows at the heart of the American economy. For example, the conventional wisdom is that the Saudi’s will never use their oil as a weapon against […]
The Outlook for Businesses is the Outlook for Stocks
Ford Says Trade War has Already Cost $1 Billon and Could Layoff 24,000 Workers Gold ended the week higher. Stocks ended the week lower. Now that the dust has settled, I’d like to ask you to look at the prospects for the stock market in this economic environment. A trade war is tax on […]
The Good News About the Stock Market Sell-Off
Gold is up. Stocks are down. At RME Gold, we’re in the business of helping people protect their wealth and prosper, so we don’t like to see anyone lose money. But some good can come out of this week’s treacherous stock market: It is proving to be a wakeup call for a lot of people […]
Ron Paul: Stock Market Trouble Ahead
What does Ron Paul have to say about the stock market bubble? Former congressman Dr. Ron Paul says we are in the midst of “the biggest bubble in the history of mankind” and a correction in inevitable. In fact, Paul has said that a 50 percent stock market sell-off should not be a surprise. “If […]
Is the Fed About to Tank the Stock Market?
Sometimes I like to share the views of others, views that deserve serious consideration. One of those views is that the Federal Reserve is about ready to tank the stock market. Although there are some, not all of those who believe this think the Fed is about to drive a stake through the heart of […]
Crisis Investing
CRISIS INVESTING Gold is the currency of choice in times of crisis. Whether it is called a “flight to quality” or a “flight to safety,” gold is the world’s money of choice in times of trouble. That’s because of its superior qualities as money, qualities that have outlasted every conceivable type of government and countless […]
Two Thoughts on the Market Action
The gold price spiked after a close, but brief, encounter with reality on Tuesday. From a low of $1192, gold surged to a high of $1212, before coming to a close at $1207. The price of silver popped, too, knocking on the door of $15 an ounce before closing at $14.69. As always, the question […]
Abandoning the Dollar Standard
World Reserve Currency Breakdown: Abandoning the Dollar Standard Today I’d like to alert you to what is happening to the dollar’s role on the world stage. But first, the backstory: In more sensible times, back before trillion-dollar deficits and a national debt that runs to fourteen places (think about that!), the US was on a […]
The Gold-Silver Ratio is Making a Strong Case for Silver
The Gold-Silver Ratio is Over 80:1- Time to Act on Silver Suppose you had 10 ounces of gold and you agreed to trade it for 800 ounces of silver. Then, sometime down the road as prices change, suppose you could trade that 800 0unces of silver back into gold, but that you got 16 […]
Student Debt: The Next Bubble?
Is Student Debt the Next Bubble? An article by New York Post contributor John Aidan Byrne the other day made a couple of points worth repeating regarding student debt. Bryne wondered if the student debt crisis will be the trigger for the next financial meltdown. It’s a good candidate. Today more than 30 percent […]
Central Banks, China Add Gold
Central Banks and China Are Adding Gold… Again. The numbers are in on central bank gold buying for the first half of 2018. For the six months central banks increased their gold buying by 8 percent over the year before. Altogether central banks accounted for 10 percent of global gold demand. The officially reported numbers for […]
Trump Chooses the Printing Press
A Word to the Wise: Trump Chooses the Printing Press Last week I promised to share with you some revealing information that makes clear that money printing will be the government’s preferred policy option in the days to come. I said, “It is a story that may disappoint some of you. But it is another warning that […]
10 Years Ago
TEN YEARS AGO: The Financial Crisis of 2008 As the week began, gold continued to trade in the $1200 range; silver’s trading neighborhood so far in September remains just over $14.00. Ten years ago this week the Panic of 2008 was picking up steam. It turned out to be the biggest financial calamity since the […]
This is What We Have Been Warning You About!
We are now only weeks away from the end of the US governments 2018 Fiscal Year. And it will be one for the record books. But not in a good way. In fact, the year-end numbers are very bad, the worst since the last financial crisis. Originally, the FY 2018 deficit was projected to total “only” $526 […]
Currency Deaths
Currency Deaths Remind Us Why We Own Gold and Silver Wednesday, 9/12/2018 There is only one answer to the question “how many paper currencies have failed?” All of them. Or stated differently, thousands of them have already failed, while those that haven’t quite given up the ghost yet, the newer ones including the paper Federal Reserve […]
Warning Signs Flashing Red!
Tuesday September 11, 2018 “Warning Signs Flashing Red!” Gold started off the week little changed, continuing to consolidate around $1200. This leaves us a moment to loop back around and underscore an important item we have already shared with you. But we think it is one that demands repeating. Goldman Sachs’ bear market indicator for […]
Shortage as US Mint Is Running Out of Silver Eagles for 2018
US Mint Is Running Out of Silver Eagles Right now everyone is looking for 2018 silver eagles, and few can find them. In fact, the US Mint is running out of silver eagles for this year. They have temporarily sold out of them, but expect more before the end of the year. Last year the […]
Trade Talk and Dollar Weakness Supported Gold This Week
Dollar Weakness Supported Gold Precious metals headed higher this week with gold hovering around $1,200. Dollar weakness supported gold prices, but gold stayed fairly quiet. Silver hovered around $14.50. Trade talk once again was a mover for both gold and the dollar. President Trump announced the possibility of new tariffs for China in the ever-escalating […]
Gold Regained Traction as Trump Found Fault with Fed Policy
Gold Regained Traction and Climbed to $1,200 Again Gold had its first weekly gain in over a month this week. By Friday with gold prices up $20, gold regained traction enough to remain firmly over the $1,200 mark. It had been wavering back and forth over $1,200 earlier in the week though. Metals had been […]
Gold Prices are Rising Elsewhere Despite Sinking This Week in the US
Gold Prices are Rising Elsewhere than in the U.S. – Why? This week gold dipped under $1,200. Silver took a hit this week too. It dropped under $15, keeping the gold-silver ratio high. It was able to clamber back some gains by Friday and close up $10, but many investors are favoring treasuries as a […]
The Gold to Silver Ratio Is Near 80 – Is Silver Undervalued?
Gold to Silver Ratio Is Near 80, Signaling Time to Buy Silver Right now the gold to silver ratio is near 80 (hovering in the high 70s). Essentially, about 80 ounces of silver are equal in value to 1 ounce of gold. This is an unusually high ratio, and historically, it signals a buying opportunity […]
Trump Vs the Fed: The President Confronts Federal Reserve on Rising Rates
Trump vs. the Fed It was President Trump vs the Fed and chairman Jerome Powell this week. The President caused a stir when he questioned the Federal Reserve’s monetary policy. It was something of an unprecedented move. Since the Federal Reserve is independent and separate from the federal government, it broke the standard norm of […]
Mining Experts Caution that World Gold Supply Is Running Out
Mining Experts Caution that World Gold Supply Is Running Out The miners are getting nervous as it appears the world gold supply is running out. Experts are warning that discoveries of gold are becoming more difficult to find. In fact, they expect to hit “peak gold” (which is the maximum rate of extraction) within a […]
Trade War with China Dominated Market Movement
Gold Made Slight Gains for the Week Gold posted slight gains for this week after battling tough headwinds the last couple of weeks. It closed over $1,250. On Wednesday with the U.S. markets closed for 4th of July, gold hit over $1,260 on the global exchange. The dollar softened and fear levels were elevated this […]
Weak Gold Demand Kept Prices Subdued This Week
Weak Gold Demand Kept Prices Subdued As Dollar Stays Strong It was a quiet week for precious metals. Weak gold demand kept prices subdued continuing the trend from last week. Gold spent much of the week fluctuating just over the $1,250 mark. Silver closed out the week at $16.10. Friday saw metals slightly up with […]
Russia Is Ditching Treasuries for Gold, Re-Thinking Safe Haven
Russia Is Ditching Treasuries for Gold, and It’s Not the Only One Are the Russians re-thinking safe haven? Russia is ditching treasuries for gold in recent months. In April, Russia slashed its holdings of U.S. debt in half. This was following fresh sanctions slapped on various Russian businesses and individuals. The senior adviser at Danske Bank […]
Gold Hammered by Strong Dollar Friday
Gold Hammered by Strong Dollar Friday As Trade War Remains in Focus Precious metals struggled Friday. Though gold hit a two week high earlier in the week climbing to $1,313, Friday saw gold hammered by strong dollar index. Trade war and tariffs dominated headlines. President Trump levied 25% tariffs on 800 Chinese imported goods, and […]
Gold Fluctuated with the Dollar This Week
Italian Bond Drama Continued This Week European geopolitics continued to cause volatility in the markets this week. Last week, Italy in particular triggered concern, and this week the Italian bond drama continued. This week, the Italian 10-year bond yield was at a 4 year high while the Italian 2-year yield had its biggest jump in […]
Gold Rallies on North Korea Fear & Interest Rates Are Sounding Alarms
Gold Posted Best Day in over a Month on North Korea Tension Gold had its best day in over a month this week. On Thursday, gold prices pushed back up to over $1,300 after continuing to struggle from last week. Gold held on to the gain through Friday. Silver prices hovered around $16.55. A stronger […]
Gold Prices Struggled During Sell-Off
Gold Prices Struggled This Week and Saw a Sell Off It was a tough week for metals after a positive week last week. Gold prices struggled and dropped under $1,300 as a huge sell-off took further toll on prices. Silver was down this week too, but posted gains on Thursday. Gold was struggling against a […]
Gold Posted a Positive Week after Early Struggle
After Battling a Strengthening Dollar This Week, Gold Posted a Positive Week by Friday Metals were down in the early part of the week. However on Thursday it got a slight boost that it held onto through Friday. In the end gold posted a positive week despite the earlier losses. The dollar rallied this week […]
Fed Leaves Interest Rates Unchanged; Inflation Expectations Increasing
Gold Battled Headwinds Early in the week gold struggled against a rising dollar index. It managed to hold just above $1,300. Some muted geopolitical fears after North and South Korean peace talks continued to put the brakes on gold as well. There was also some sell-off, which pushed prices down further. On Wednesday though, gold prices […]
Gold Under Pressure This Week from the Greenback
Gold Under Pressure from Rising Greenback This Week Precious metals were rallying early in the week, but faced some push back on Thursday. By Friday gold prices lifted again slightly and were sitting just over $1,320. Silver ended the week around $16.55. The resistance mid-week came from a rising dollar index. As it retreated again […]
The Price of Gold Relative to the Value of the Dollar in the Last Year
The Price of Gold Relative to the Value of the Dollar – CHART This chart depicts the price of gold relative to the value of the dollar over the last 15 months. The price on the left is the movement in gold prices since January of last year until last month. The right side shows […]
Gold Hit Its Highest Close in 2 Years This Week as Tensions Ramp Up in Syria
Gold Hit Its Highest Close in 2 Years On Wednesday, gold hit its highest close in 2 years. Gold started the week at around $1,335, climbed to over $1,350 mid week, and settled around $1,345 by Friday. Silver finished the week just shy of $16.70. Silver looks poised for surge right now, in fact. Gold […]
Gold Continued to Rally on Trade War Fear This Week and Stagnating Output
This Week Gold Continued to Rally on Trade War Fear, Stocks Got Slammed The biggest news this week for the markets and gold was trade war fears. Gold continued to rally this week as China and the U.S. imposed and threatened new tariffs on each other. By Friday the Dow had fallen nearly 3%. The […]
Several Reasons Gold Is Looking More Bullish Right Now to Investors
Gold Is Looking More Bullish As Goldman Sachs Upgrades Gold Expectations to “Outperform” As the stock market teeters on correction mode, gold is looking more bullish. Goldman Sachs even upgraded gold outlook this week. The investment bank expects precious metals to “outperform” over the coming months. This is based partly on empirical data that shows […]
Trade War Fears, Market Sell-Off, and Fed Action Triggers Moves This Week
Trade War Fears Spark Market Sell Off It was another dramatic week for the markets as the Dow fell over 700 points on Thursday due to trade war fears. In fact it was the worst week for stocks in over two years. President Trump announced the likelihood of tariffs on at least $50 billion worth […]
Gold Remains Desirable Despite Struggle to Break Out This Week
Mixed Week for Gold and the Markets Gold had an up and down week. It was under $1,320 to start out Monday, but during the week it rallied past $1,325. However on Friday it pulled back again to around $1,315. Silver followed a similar rise and fall pattern. The stock market was similarly choppy. It […]
Mixed Week for Gold as Trade War, Geopolitics & Jobs Data Drives Markets
Mixed Week for Gold Starts with Rally It was a mixed week for gold this week. Monday started out with gold continuing its upward move from last week and crossing $1,330 midweek. On Friday though it fell to just over $1,320. Silver also had a midweek spike. By Friday though, metals pulled back initially as […]
Looking Back at the Smoot Hawley Act after Trade Tariff Announcement This Week
Possible Trade War? It’s Time to be Looking Back at the Smoot Hawley Act of 1930 History has a cyclical way of repeating itself, and looking back at the Smoot Hawley Act could provide some crucial lessons right now. The big news of the week for the economy was President Trump’s announcement that the U.S. […]
Gold Buying Goes Up Around the Globe As BRICS Countries Eye More Gold, Venezuela Toys with Gold Backed Cryptocurrency
Russia Passes China in Gold Holdings as Gold Buying Goes Up Around the Globe The Russian central bank passed China last year in increasing gold holdings as gold buying goes up around the globe. Russia has been buying gold every month for almost three years, while China’s accrual has tapered off slightly. This past month, […]
Gold Was Up and Down this Past Week As Inflation Concerns Set In
Gold Was Up and Down This Past Week After previously being quiet, gold was up and down this past week. However by Friday it was on pace for its biggest weekly gain in two years. It started the week just under $1,320 and rallied to $1,350 on Wednesday. Friday opened with gold still over the […]
Stock Market Drop Off: One of the Worst Weeks Since 2008
Stock Market Has One of the Worst Weeks since 2008, But Gold Remains Quiet For Now Volatility was the word of the week. The Volatility Index went as high as 40 points Friday before closing around 30 (last week it was around 17). The volatility in the stock markets is becoming more pronounced, especially following last […]
Volatile Week for Stocks Sparks In Worst Trading Week in 2 Years
After a Volatile Week for Stocks, Gold Set To Move Higher? It was a volatile week for stocks all week with Friday marking the worst day this year for the markets. Friday saw the Dow Jones plunge nearly 700 points and it marked the biggest loss in 2 years for the Nasdaq. It was overall […]
Gold & Oil Hit Multi-Year Highs This Week
The Dollar Hit a 3-Year Low, Boosting Gold Over $1,360 The recently falling dollar hit a 3-year low this week, and helped gold rally to its highest level in 17 months. The last time we saw gold prices reaching $1,360 was in August of 2016, and it looks like they will keep rising. Silver also […]
Good News for Gold in 2018: Bitcoin, Bonds, and Bubbles to Drive Prices?
Investors Fleeing Bitcoin to Gold in Increasing Numbers Gold continued to hold strong above $1330 this week. There was some pull back midweek on profit taking, but by Friday it got another bump on news of a possible government shut down. While gold rose though, crytpocurrencies had another sharp drop off. This week bitcoin came […]
A Bearish Bond Market, Inflation, and Gold – What’s Ahead?
A Bearish Bond Market, Inflation, and Gold The “bond king”, Bill Gross, was on record this week saying that the bond market is falling. For the past 25 years the bond market has been on a roaring bull run, so there are significant implications to this turn. A bearish bond market, inflation, and gold – […]
Gold Kicked Off 2018 Above $1300 and Ends Week on Rally
Despite Stock Rally, Gold Kicked off 2018 above $1300 and Held on to Gains In contrast to last year, gold kicked off 2018 above $1300 and held on above $1310 for the first week of 2018. It continued its rally through trading on Friday to end the week just over $1,320. Gold just had its […]
Gold Will Continue Its Climb in 2018
Gold Will Continue Its climb in 2018, According to WGC The World Gold Council (WGC) released a report on Friday that predicts gold will continue its climb in 2018. This year it is up 9% and in 2016 it was up 8.5% for the year. This followed after three years of decline for gold. It […]
The Runaway National Debt Problem & Why It Keeps Janet Yellen Up at Night
Fed Chief: Runaway National Debt Problem Should Keep Us Awake at Night It’s no secret that there is a runaway national debt problem in the U.S. The total national debt right now is about $20 trillion and rapidly rising. Federal Reserve chair Janet Yellen was recently on record of saying that she is worried about […]
A Wild Week for Gold and the Markets Due to D.C. Drama
Tax Reform and D.C. Drama Made for a Wild Week for Gold and the Markets It was a wild week for gold and the markets. The Dow went from breaking above 24,000 to falling over 350 points Friday. Gold also fluctuated rising to just under $1,300 at the start of the week to dropping below […]
Gold Broke Out Over Its 50-Day Moving Average As Stock Market Fell
Gold Broke Out Over Its 50-Day Moving Average This Week Closing out the week just over $1,290, gold broke out over its 50-day moving average this week. With gold making its second weekly gain, it was building on last week’s safe haven rally. It opened the week at $1,277. Silver opened at about $16.95 and […]
Political Developments Sparked a Gold Rally This Week after Slow Week
Political Developments Sparked a Gold Rally This Week Gold ended the week around $1,275 after climbing over $1,285 earlier in the week. Political developments sparked a gold rally that broke the rut that gold has been stuck in the last few weeks. Some of these political developments driving the rally were overseas, and some domestic. […]
October Spending Hit A Quarter of a Trillion Dollars
October Spending Hit a Quarter of a Trillion Dollars The big story right now that no one is talking about is that October spending hit a quarter of a trillion dollars. October is generally considered a better month for the U.S. Treasury Department with the additional revenue of tax extension filers, but even with the […]
Monetary Policy, Treasury Highs, and Dollar Index Drove Gold This Week
Dollar Index Drove Gold This Week While Treasuries Hit 5 Month High Building on recent strength, the dollar index drove gold down slightly this week. Gold prices hovered in the mid $1270 range all week. Silver started the week just short of $17 and closed lower at about $16.77. Stocks were up at the beginning […]
Quiet Week and Stock Market Highs Kept Gold Down This Week
Gold In Holding Pattern During Quiet Week and Stock Market Highs Not much to report on precious metals after a quiet week and stock market highs keeping gold from moving up much. Starting the week, gold touched just above the $1,300 mark, but maintained roughly between $1,285 and $1,290 the rest of the week. The […]
Gold Was Up This Week and Hit $1,300 As Alarm Bells Sound
Gold Was up This Week and Reached $1,300 Again After a couple weeks of resistance, gold was up this week and closed Friday just above the important $1,300 mark. Gold climbed steadily from the 4 week low it hit last week despite some slightly more positive global economic growth data. Geopolitics was a drive for […]
Complacency in the Markets Affecting Gold
Complacency in the Markets Affecting Gold Negatively This Week The stock market continues to set new highs this week. As these records rack up, there is right now a great deal of complacency in the markets affecting gold. Gold fell slightly again this week under pressure from new stock market highs and interest rate talk. It […]
What Weighed on Gold Prices This Week? And What Is Ahead? Gold Still Looks Bullish
After an Initial Rally, What Weighed on Gold Prices This Week? Gold opened the week just over $1,300, but fell mid-week below $1,290. By Friday, gold had made back some of of those gains to close up. More bellicose rhetoric from North Korea sparked the initial flight to safety. So what weighed on gold prices? There […]
Gold Rally Met Resistance This Week and Prices Dipped
Gold Rally Met Resistance This Week and Prices Dipped – Buying Opportunity? A couple weeks ago gold hit a year high, but the gold rally met resistance this week and prices dipped. Gold fell most of the week, but was able to turn positive late Friday to close out the week just under $1,300. Silver […]
Gold Looks Poised for a Break Out Despite Pull Back This Week
Metals Pull Back, but Gold Looks Poised for a Break Out After reaching $1,350 last week, gold hit some resistance this week, though it maintained its position over $1,350 to close out the week at approximately $1,325. However, gold looks poised for a break out for a few different reasons including an increasingly shaky dollar […]
Plunging Dollar Sent Gold Higher As U.S. Debt Limit Increases
A Plunging Dollar Sent Gold Higher This Week The recent metals rally continued this week as a plunging dollar sent gold higher. Gold opened after the long weekend just over $1,330 and by Friday had hit $1,350. There were many factors impacting the markets this week including the Democrats’ and Trump’s agreement on the debt […]
Gold Hits Year to Date High, Continues to Climb Above the Crucial $1,300 Mark
Gold Continues to Climb above the Crucial $1,300 Mark Reaching its highest level this year, it was another shining week for metals, as gold continues to climb above the crucial $1,300 mark. It opened the week around the $1,305 mark, and closed just over $1,320 to head into the long weekend. Fed comments, more North […]
Gold Chases Last Week’s Highs and Germany Repatriates Gold
Gold Chases Last Week’s Highs of $1,300 Last week gold hit $1,300 for the first time in 2017. Although it eased back slightly this week, still gold chases last week’s highs. Gold opened the week at $1,289 and closed at $1,290. Mid-week it climbed over the $1,290 mark to nearly reach $1,300 again. Political uncertainty […]
Gold Breaks Through $1,300
Gold Breaks Through $1,300 for the First Time in 2017 Gold had a volatile trading range of $1,283-$1,301 intraday on Friday, which was the first time this year that gold has broke the psychological resistance of $1,300. There has been some pull back since, as gold is currently sitting at around $1285 as of print. […]
Market Volatility Around North Korean Tension Spurred Gold Rally This Week
Volatility Around North Korean Tension Spurred Gold This week, volatility around North Korean tension spurred gold into a rally. Gold opened the week at at $1257 and closed $30 higher. On Thursday it hit $1290. Silver also rallied, closing the week at $17.10. The news came out this week that North Korea has the capability […]
7 Week High for Gold This Week after Disappointing U.S. Economic Data
7 Week High for Gold This Week We had a 7 week high for gold this week. Although Friday saw some pull back on profit taking, it was still a good week for gold. Gold finished out the week just short of $1,260, but climbed as high as $1,270 mid-week. It was not such a […]
The Dollar Index Is at Year Low and Gold Rallies This Week
Shining Week for Gold as Dollar Index Is at Year Low The dollar index is at year low this week. The last time it was this low was June of last year, and it’s currently in a two week losing streak. Gold was up all week, and closed the week just shy of the $1,270 […]
Gold Added on Last Week’s Gains; 10 Reasons You Should Buy Gold
Quiet Mid-Week, But Gold Added on Last Week’s Gains With a rally this week, gold added on last week’s gains. The week opened at $1,234 and closed at $1,253. Silver opened the week at $16.15 and closed at $16.54. Although metals were trading fairly quietly during the middle of the week due to lack of […]
Gold and Cryptocurrency Forming a New Relationship?
A Cryptocurrency Backed By Gold? Sure Makes Sense, Doesn’t It? Cryptocurrencies like bitcoin have experienced massive rallies recently as a possible, alternative safe haven investment. Are Gold and Cryptocurrency forming a New Relationship? Naturally, a cryptocurrency such as Bitcoin brings inherit fears of instability and raises questions from investors. This being mainly because the “currency” […]
Gold Prices Are Down Right Now – It’s a Prime Time to Buy
Gold Prices Are Down Right Now – It’s a Prime Time to Buy When metals are low, it’s a perfect time to buy, and gold prices are down right now. This could be an important, new price bottom before the next rally. If you have been waiting for the right moment to get in, this […]
How Are Global Tensions Going to Affect Gold?
How Are Global Tensions Going to Affect Gold? Gold had some pull back at the start of the week, but closed out the week making back some gains. However, going forward, there are global tensions going to affect gold, most likely. Although lately gold has at times been fairly quiet on the volatility trade, there […]
Gold Retreats after Fed Raises Rates, but Gold Still Looks Safe Long Term
Gold Retreats after Fed Raises Rates a Quarter Point This week gold retreated from its rally following the Fed announcement Wednesday that lifted rates a quarter point. Gold still looks safe long term, however, and made back some small gains Friday as the dollar index experienced some weakening. The dollar index strengthened Wednesday following the […]
Gold Is at 7 Week High on Weak Dollar Index
Gold Is at 7 Week High on Weak Dollar Index, Nearly Reaches $1300 This week, gold is at 7 week high on weak dollar index (among other driving factors). Gold prices started out the weak with a rally climbing over $1,290, however it pulled back some on Thursday and Friday. The dollar index was up […]
Arizona Authorizes Gold as Legal Tender
Arizona Authorizes Gold as Legal Tender as Alternate to Fiat Currency This fall, Arizona authorizes gold as legal tender with Governor Doug Ducey’s signing of House Bill 2014 this past week. The bill eliminates capital gains tax on gold and silver, which encourages its use as currency. Previous version of the bill passed the state […]