Latest Gold & Silver Price News
THIS Is What a Run on the Bank for Precious Metals Looks Like…
The explosive price action seen in palladium recently is indicative of a physical shortage. Put simply, available inventories are failing to keep up with demand (largely from the automotive industry). According to Refnitiv GFMS, the palladium market will be under-supplied by 883,000 ounces this year. Stresses on the physical market are showing up in spiking lease rates, illiquidity, widening bid/ask spreads, and disconnections between quoted spot prices and actual physical prices. Most importantly, the deficit in palladium supply is manifesting in the form of rising prices. Palladium hit a record, briefly touching the $2,500 level last month. And despite selling off a little in recent days, Bank of America Securities […]
Axel Merk: Fed to Stimulate in Any Crisis; Don’t Let Short-Term Events Bother You
Mike Gleason: It is my privilege now to welcome in Axel Merk President and Chief Investment Officer of Merk Investments and author of the book Sustainable Wealth. Axel is a well-known market commentator and money manager and is a highly sought-after guest at financial conferences and on news outlets throughout the world and it’s always great to have him on with us here on the Money Metals Podcast. Axel, it’s a pleasure to have you back and thanks for joining us again. Welcome. Axel Merk: Good to be with you. Mike Gleason: Well, I’d like to start by getting your take on the coronavirus since that has been dominating headlines in recent days. There is […]
Gerald Celente Speaks Out on Iran, Coronavirus, Gold and Global Protests
Mike Gleason: It is my privilege now to welcome back the one and the only Gerald Celente, publisher of the renowned Trends Journal. Mr. Celente is a frequent guest here on the Money Metals podcast and perhaps is the most well-known trends forecaster in the world and it’s always great to have him on with us. Gerald, thanks for the time again today. I guess we can still say happy new year. Welcome back to you. Gerald Celente: Well thank you and thank you for your kind words. Mike Gleason: Well, Gerald, here we are at the start of another year and a new decade also. At the start of the last decade in […]
Central Banker Pull Out Their Monetary Bazookas to Try to Avert a Coronavirus Crash
The emerging coronavirus pandemic is already crimping global commerce. In response, the S&P 500 has thus far put in two weeks’ worth of declines (the index fell 2.1% last week) since making new highs to start the year. Even though the U.S. stock market hasn’t even entered a true “correction” phase yet, Wall Street is already clamoring for more Fed stimulus. Mainstream stock market mavens figure the central bank will step in to limit downside – and they are probably right. Following the Federal Open Market Committee’s decision on Wednesday to keep rates unchanged, Fed Chairman Jerome Powell said he is “carefully monitoring the situation” with regard to the Chinese […]
There’s No Fever Like Gold Fever…
In late December 2019, a bill from the German finance ministry – which had passed the lower legislative house – proposed lowering the “anonymous purchase limit” for precious metals from €10,000 to €2,000 (about $2,200), a reduction of 80%. At the current price, one could buy less than one and one-half troy ounces of gold without activating customer ID paperwork, and for businesses – a criminal background check! This is an additional decline from the €15,000 mandated just two years ago. Set to become law in early 2020, the effect was immediate, as long lines outside a coin shop in Cologne show. Some of the world’s largest banks – including […]
Why Palladium Is on a Tear
Physical palladium and rhodium markets are buzzing. Reported prices for both metals leapt higher in recent days. The story behind palladium’s move is that a physical shortage has developed in London. Traders sold metal they didn’t physically possess. Now they are being asked to deliver the bars and they are scrambling to secure the metal needed, bidding prices higher. It looks like bullion bankers selling paper metal are finally getting called for selling way more than they can actually deliver! People have complained about this practice in precious metals markets for decades. More and more contracts have been sold, but inventories of actual physical metal have not kept pace. Price discovery is […]
Michael Pento: THIS ONE THING Will Tell Us When the Bubble Economy Is Bursting…
Mike Gleason: It is my privilege now to welcome back Michael Pento, President and founder of Pento Portfolio Strategies. Michael’s a well-known money manager, market commentator and author of the book, The Coming Bond Market Collapse: How to Survive the Demise of the U.S. Debt Market. He’s been a regular guest with us over the years and we always love getting his fantastic insights. Michael, thanks for the time again today, and welcome back. Michael Pento: It’s always a pleasure to be on with you. Thank you for inviting me back on the program. Mike Gleason: Well, we’re having a hard time seeing a big move higher in metals prices until one of two […]
Former Fed Official Says Government Can Borrow a LOT More
Narayana Kocherlakota, the former President of the Federal Reserve bank of Minneapolis wants you to know the Federal Government can never borrow too much money. Our government already borrowed $23 trillion and deficits are expected to exceed $1 trillion per year. He knows many Americans feel anxious about the federal government going bankrupt, and he has a simple solution. He just wrote the following in an editorial published by Bloomberg: Policy makers and voters often express concern about the level of the federal deficit, which topped $1 trillion last year, and the national debt, now more than $23 trillion. But, unlike a household that owes money to a bank, the U.S. government […]
Precious Metals Set to Keep Powering Ahead
Precious metals got off to an explosive early start to 2020 as tensions between the U.S. and Iran drove safe-haven buying. Of course, gold and silver markets will need more than a geopolitical flare up to drive a long-term bull market advance. The question for investors is whether the fundamental picture now looks promising or fleeting. In our view, the fundamentals are turning in favor of higher gold and silver prices. From fiscally reckless trillion-dollar deficits in Washington, to a Federal Reserve obsessed with generating higher rates of inflation, to mining supplies of gold and silver tightening, the ingredients for a big bull market are in place. Fed Doubles Down on Higher Inflation […]
Yes, China Is a Currency Manipulator – And the U.S. Banking System Is a Metals Manipulator
The U.S. Treasury Department announced Monday that China is no longer on a list of countries deemed to be “currency manipulators.” The timing was awfully convenient, coming just ahead of an expected Phase One trade deal between the two powers. Nobody actually believes China has stopped manipulating the value of its yuan versus the U.S. dollar. But the Trump administration is apparently willing to accept a certain degree of currency rigging in exchange for other concessions on trade. It’s not as if the U.S. government has a stellar record when it comes to heeding principles of free and fair currency markets. It (through the Exchange Stabilization Fund and other vehicles) […]
Fighting the Fed (and the Crooked Banks) by Holding Gold
Market forecaster Martin Zweig famously warned investors against underestimating the power of the Federal Reserve Bank to control markets. He coined the phrase “Don’t fight the Fed” back in the 80’s. Precious metals investors are wondering if this is still good advice. On one hand, it is pretty hard to argue with that bit of wisdom. The Fed Zweig was referencing had begun taking a more overt role in markets, using interest rates as a tool for managing the economy. Paul Volcker dramatically raised interest rates to put price inflation from the late 1970’s back under control. Zweig hailed from an era of less irresponsible central bankers. He expected them […]
Craig Hemke Makes 2020 Prediction on Gold & Silver, Slams Biased Gold Naysayers
Mike Gleason: It is my privilege now to welcome in Craig Hemke of the TF Metals Report. Craig is a well-known name in the metals industry and runs one of the most highly respected websites in our space and provides some of the best analysis you will find anywhere on banking schemes, global macroeconomics, and evidence of manipulation in the gold and silver markets. Happy New Year to you, Craig. Thanks for coming on and welcome, how are you? Craig Hemke: Mike, it’s always a pleasure. New Year’s started off with a bang, man. I hope it’s not indicative of how crazy this entire year is going to be. We’ll see. Mike Gleason: Yeah, […]
Bullion Banks Used Paper Gold and Silver to Restrain Price Advance in 2019
Gold and silver investors buy metals because they are scarce. Precious metals are by nature difficult to find, and hard to produce. Consequently, above ground stocks are limited and valuable, particularly when priced in unlimited fiat currencies. The bankers and government officials behind these fiat currency systems don’t like stable monetary benchmarks such as gold putting their inflation schemes on full display. They absolutely hate that gold works as a refuge. Inflation is a stealth tax. Instead of overtly raising taxes, politicians simply borrow and print the money needed for more government. They just need people not to notice. Which brings us to the futures markets for gold and silver. […]
Weldon: “This Opportunity Here Is As Good As It Gets…We’re Playing Gold & Silver Very Aggressively.”
Mike Gleason: It is my privilege now to welcome back our good friend Greg Weldon, CEO and president of Weldon Financial. Greg has decades of market research and trading experience specializing in the metals and commodity markets and even authored a book back in 2016 titled Gold Trading Boot Camp where he accurately predicted the implosion of the US credit market and urged people to buy gold when it was only $550 an ounce. He’s made a lot of great calls right here on this podcast this year and it’s great to have him back on with us. Greg, thanks for the time again and welcome. How are you? Greg Weldon: I’m great, Mike. My […]
