Monday, September 16, 2019

GOLD RISES AGAIN UP $5.25 TO $1342.50/SILVER ALSO UP 8 CENTS TO $16.61/ABE GOVERNMENT IN TROUBLE IN JAPAN FOR LYING

by Harvey Organ, Harvey Organ Blog:

PUTS THEIR QE PROGRAM IN JEOPARDY/DOW UP 428.90 POINTS/NASDAQ UP 143.96 POINTS/MARKETS REACT TO XI’S CONCILIATORY SPEECH WHICH WAS NOTHING BUT A REHASH WHAT WAS SAID IN DAVOS/RUSSIAN ROUBLE CRASHES AS THE SANCTIONS ARE HAVING A DEVASTATING EFFECT ON THE RUSSIAN ECONOMIC SCENE/EU MAY RAISE THEIR INTEREST RATE BY 20 BASIS POINTS AS THEY STOP QE AT THE END OF THIS YEAR/USA PPI RED HOT AND THIS IS A FORERUNNER OF INFLATION/PLETHORA OF SWAMP STORIES TODAY INCLUDING THE DAVID COHEN RAID BY THE FBI

Petro-yuan is the newest weapon for the China-Russia-Iran anti-USD alliance

by Jeff Brown, The Saker:

Pictured above, the currency symbols for the old Spanish peseta and the Chinese yuan. Maybe Baba Beijing can synthesize the two of them into a cooling looking petro-yuan logo.

After 25 years of dreams, planning, rumors and testing, the Chinese petro-yuan is now official. Right now, almost all global oil trade is conducted in US dollars, using two benchmark varieties of crude, West Texas Intermediate and North Sea Brent, as the industry standards. It is no accident that these two benchmarks are based on imperial crude, American and British, and the irony of this is surely not lost on Baba Beijing (China’s leadership).

SOLID DAY FOR GOLD: UP $$4.05 TO $1336.75/SILVER UP 12 CENTS TO $16.53

by Harvey Organ, Harvey Organ Blog:

NEW SILVER OPEN INTEREST RECORD AT 243,411 CONTRACTS//RUSSIAN SANCTIONS BY THE USA CAUSES THE ROUBLE TO TANK AND THE RUSSIAN STOCK MARKET/SWISS SHARES THAT ARE AFFILIATED WITH RUSSIAN OLIGARCHS CRASH AS WELL/ISRAEL ATTACKS SYRIA LATE SUNDAY NIGHT AS WELL AS DESTROY MILITARY FACILITIES IN GAZA/CRIMINAL TRIALS TO COMMENCE AGAINST 6 TRADERS

Donald Trump’s False Bravado Trade War, Implications for Gold Market

0

by Michael Ballanger, Market Oracle:

Precious metals expert Michael Ballanger discusses Donald Trump’s trade war with China and the implications for the gold market. When I played pro hockey in Richmond, Virgina, it was during the era of “Slapshot!” and the Broad Street Bullies when gooning (fighting) was fashionable and an integral part of the sport. Stocking your team with two-or three enforcers meant that the finesse players could sail around the ice doing pirouettes and triple axles and dipsy-doodles without the fear of some 250-lb lumberjack from northern Quebec impaling them. I learned quickly from our coach, the legendary Forbes Kennedy (one of the toughest NHL players ever) that the way to avoid getting into a donnybrook with someone you really did not wish to engage was “Don’t fookin’ look at ’em!” because if they caught your eye and were staring you down, you then were forced to drop the gloves. I made a habit of staring into the eyes of all the finesse players and upon the skates of the goons. Of course, there was the odd occasion I forgot and wound up holding on for dear life when one of the Neanderthals tricked me up and forced me to drop ’em but for the most part, old “Forbie” was absolutely spot on and you could stay safe if you avoided the glaring, maniacal eyes of the Gilles Bilodeaus and Billy Goldthorpes of the world but ONLY if you just “didn’t fookin’ look at ’em.”

Silver May Be Getting Ready to Shine Again

0

by Clint Siegner, Money Metals:

The setup for higher silver prices is so good it’s scary. The relative positioning of speculators versus the bullion banks in the futures markets is extraordinarily lopsided.

A bet on silver moving higher from here looks a lot like a no-brainer. So much so that David Morgan, publisher of The Morgan Report and silver guru is advising just a bit of caution, as he told listeners in an exclusive interview on this past Friday’s Money Metals Weekly Market Wrap Podcast.

The bullion banks (Commercials) are almost certainly now betting for higher silver prices and have relinquished their concentrated short position.

Is The Silver COT Bullish?

by Dave Kranzler, Investment Research Dynamics:

There’s been an abundance of commentary on the net long position of the “Swap Dealers” in Comex silver futures per the COT report. As of the latest COT report, the Swap Dealers are net long almost 22k silver contracts. This is unprecedented. At the same time, the “Large Speculators,” the majority of which is comprised of the “managed money” (hedge funds) sub-component, are net short nearly 17k silver contracts. The data my business partner tracks goes back to April 2004. In that period of time, the Large Speculator category has never been short until February 2018.

On the surface, the silver COT report appears to be extraordinarily bullish. However, there’s a bigger picture not discussed by “COT” analysts that includes the other segment of the large “Commercial” category and the COT structure of gold.

Peter Schiff: Nobody Is Prepared for the Long-Term Pain That’s Coming

by Peter Schiff, Schiff Gold:

The stock market continued its yo-yo ways on Friday. After three straight days of healthy gains, the Dow Jones Industrials fell 572 points to end the week, closing below 24,000. The Nasdaq also plunged, dropping 161 points.

Peter Schiff has been saying for weeks this is a bear market. Well, now even Pres. Trump has said investors may see some short-term pain in the stock market. But the president says it will all be worth it because we will get long-term gain, referring to the benefits we’ll reap when we win the trade war. In his most recent podcast, Peter said that’s not how it’s going to play out.

We’re going to have short-term pain and then the pain is going to get worse in the long-run.”

The big problem is, nobody is really ready for any pain at all.

Waiting On A Catalyst: These Markets Don’t Need A Reason Just An Excuse

from Silver Doctors:

SD Outlook: All the markets are now set-up. Is this the week gold, silver, and the broader markets finally start moving again?

For the mainstream financial cheerleaders, press and pundits, this is a Goldilocks week of market events – no too many, and no too few, but just right.

Starting out the week we see events and data releases are somewhat slow, but inflation statistics will take center stage by midweek:

No Revolution Just Yet – Precious Metals Supply and Demand Report

0

by Keith Weiner, Acting Man:

Irredeemably Yours… Yuan Stops Rallying at the Wrong Moment

The so-called petro-yuan was to revolutionize the world of irredeemable fiat paper currencies. Well, since its launch on March 26 — it has gone down. It was to be an enabler for oil companies who were desperate to sell oil for gold, but could not do so until the yuan oil contract.

The Top Gold Producers in 2017: Companies and Nations

by Alex Deluce, Gold Telegraph:

It has been widely reported that the global gold supply will begin to weaken over the next several years leaving investors anticipating higher prices. As noted a few weeks ago, gold supply is plateauing, with many experts now predicting an era of “peak gold.”

And as “peak gold” emerges, the world’s top 20 old miners have focused heavily on reducing debt in a turbulent mining market. In 2017, Barrick Gold stayed ahead of Newmont by a slim margin of 1.8 tonnes, however, Newmont’s gold output is expected to continue growing in 2018 which could very well push them ahead of Barrick to become the world’s biggest gold producer.

New Silver Bull Coming

by Adam Hamilton, Silver Seek:

Silver has been dead money over the past year or so, relentlessly grinding sideways to lower. That weak price action has naturally left this classic alternative investment deeply out of favor. Silver is extremely undervalued relative to gold, while speculators’ silver-futures positions are extraordinarily bearish. All this has created the perfect breeding ground to birth a major new silver bull market, which could erupt anytime.

Silver’s price behavior is unusual, making it a challenging investment psychologically. Most of the time silver is maddeningly boring, drifting listlessly for months or sometimes years on end. So the vast majority of investors abandon it and move on, which is exactly what’s happened since late 2016. There’s so little interest in silver these days that even traditional primary silver miners are actively diversifying into gold!