Tuesday, January 21, 2020

Another Week, Another Improvement In Gold’s Prospects

by John Rubino, Dollar Collapse:

The past few months have added some cred to the “sell in May and go away” rule of thumb for precious metals, as gold’s price action has been both boring and depressing. It’s now close to its 12-month low, while a lot of miners are providing material for the old joke: “Want to make a small fortune in gold mining stocks? Start with a large fortune…”

But, to paraphrase one more aphorism, the cure for low prices is … low prices. The further gold falls, the more pessimistic futures speculators become, to the point that they’re now close to being net short, something that hardly ever happens. On the following chart the speculators are represented by the silver bars and “commercial” traders (who tend to be right at big turning points) are red. Both groups are trending towards the “neutral” mid-point of the chart, which in the past has proceeded big up moves in gold’s price.

Market Report: Sell-off intensifies

by Alasdair Macleod, GoldMoney:

Gold and silver lost further ground this week, as the dollar rallied back above the 95 level on its trade weighted index. As our headline chart shows, both metals have made a clear break below the important low established last December, with gold now 2.9% below it, and silver 2.3% lower.

This week, gold lost a further $15 from last Friday’s close to trade at $1207 in European trade this morning (Friday), and silver lost 18 cents over the same time-scale to trade at $15.32.

Fun on Friday: This Gold Heist Reads Like a Plot from a Comic Book

by Peter Schiff, Schiff Gold:

OK, I’m not endorsing crime here. But I have to admit, I admire the creativity and work ethic some criminals put into their craft. I always wonder what some of these people could make out of themselves if they would channel their talent into more socially constructive channels.

Take these guys from Australia. They pulled off one heck of a gold heist using a stolen sewage truck.

Yup. You read that right. These guys jacked a sewage truck and used it to steal gold.

Keiser Report: ‘Happy winners’ of Trump’s trade war (E1262)

from RT:

In the second half, Max interviews Mish Shedlock of MishTalk.com about why Trump’s trade war is a lose-lose situation and what the real reasons are for America’s mass industrial unemployment.

The Weekly Perspective with David Morgan for August 3rd, 2018

by Kerry Lutz, Financial Survival Network:

David Morgan‘s weekly perspective for August 3rd, 2018…

Today’s monetary system is based upon a lie. The lie is that you can get something for nothing, or perhaps more simply stated, wealth can be printed. History has shown throughout 5000 years that whenever a country has tried to maintain this illusion (lie), failure has been the result. You Can Continue To Grow Your Wealth Regardless Of The Changing Winds Of Politics, The Economy And The Financial Markets. Let me show you how…

Click HERE to Listen

Sales of Physical Gold Explode as the Currency Wars Continue to Unfold – Nathan Mcdonald (03/08/2018)

by Nathan Mcdonald, Sprott Money:

Trade wars are erupting, scandals are unfolding and now the United States is entering into the much prophesied currency wars that many experts have predicted was coming for years.

The United States and China, who continue to hold out against American tariffs, are entering into a quickly accelerating downward spiral.

Already the US government has ordered a massive $34 Billion worth of tariffs on Chinese goods entering into the United States, while at the same time, China has fired back shots of their own, issuing tariffs of their own kind.

As predicted, this would be far from the last that we would see, as now, we are learning today that President Trump plans on increasing tariffs by an additional 25% , up from the previous 10%.

This equates to a stunning $200 Billion worth of tariffs on Chinese goods, attempting to enter the United States marketplace.

GOLD UP $3.10 TO $1214,90/SILVER RISES BY 7 CENTS TO $15.45

by Harvey Organ, Harvey Organ Blog:

CHINA CATCHES YUAN SHORTS OFF GUARD WITH CURRENCY SWAPS, TRYING TO CONTAIN THE HUGE FALL IN THE YUAN/TRUMP WARNS MORE TARIFFS AGAINST CHINA/CHINA RELEASES ITS LIST OF TARIFFS TO BE IMPLEMENTED/USA RELEASES ITS JOB REPORT AND IT WAS SUB PAR

HYPERINFLATIONARY GOLD AT $175 BILLION DOLLARS

by Egon Von Greyerz, Gold Switzerland:

The Sword of Damocles is hanging over the world economy, held only by a single hair of a horse’s tail. With such visible danger, the problem could have been fixed easily by either using a gold chain or even removing the sword altogether.

But the elite, and central bankers have had other plans. Instead of replacing the hair with a solid metal chain, the sword is today hanging by a very fragile thread that can break at any time.

The global financial system was on the verge of collapse a decade ago. Central banks around the world, led by the Fed injected around $25 trillion in loans and guarantees. Banks like Citigroup, Morgan Stanley, Merrill Lynch and Bank of America got trillions. (see table below).