Latest Gold & Silver Price News
Rep. Mooney Seeks to Audit Gold Intervention, Ban Federal Tax on Precious Metals
Surreptitious intervention in the gold market by the U.S. government is the target of legislation introduced in the U.S. House of Representatives by Rep. Alex X. Mooney (R-WV). Congressman Mooney just circulated a letter to his House colleagues seeking formal cosponsors and support for his Gold Reserve Transparency Act, H.R. 2559. The bill calls for a full audit, inventory, and assay of America’s gold reserves for the first time in almost 70 years. But this audit goes deeper… attempting to get to the root of whether, and to what extent, America’s gold has been compromised. Mooney writes: “Because there are concerns the U.S. Treasury may have sold, swapped, leased, or […]
Coin Shortage Ramps Up War on Cash
Many retail businesses including grocery stores and fast food restaurants have been wrangling with a national coin shortage. Some are posting notices informing customers that they will need to pay in exact change or use alternative payment methods such as credit cards. What’s driving this scarcity of quarters, dimes, nickels, and pennies? The answer from the U.S. Mint: COVID-19. The virus caused some Mint branches to temporarily slow or suspend production this spring. By May, the total number of circulating coins minted this year came in at around 4 billion, a 1 billion-coin shortfall compared with the same period in 2019. Now as economic activity recovers, there aren’t enough coins […]
Gold Is Dangerously Under-owned by Americans, Especially Now
Far from being mired in the summer doldrums, precious metals markets appear to be on their way to making this summer one for investors to celebrate. $20+ silver and new record highs for gold are both well within reach. Even as the big tech stocks that make up the Nasdaq are posting rip-roaring gains, the best performing sector of 2020 has actually been the gold miners. The HUI gold mining stock index is up 30% year to date – and up over 90% since bottoming in March. Investors who bought just about any stock market sector near the climax of the panic selling have since been able to make big […]
The #1 Question for Beginners in Precious Metals
More new people may have made their first purchase of physical gold or silver in the past 4 months than in any four-month period in history. This sort of data isn’t reported and tracked. But if our experience as one of the nation’s largest precious metals dealers is representative, we believe that’s the case. We’ve never seen so much retail demand, and a big portion of the buyers are first timers. With the new wave of people entering the market comes a fundamental question lots of them have before they get started: What do I do with the metal after I buy it? Physical gold and silver are useful both as […]
Gold/Silver Ratio Timeline (1862-2020)
Number of silver ounces worth 1 oz Gold (1862-2020) Courtest of SD Bullion
Fed Chairman: “We’re Not Even Thinking about Thinking About Raising Rates”
Market volatility has suddenly spiked in recent days came after the Federal Reserve vowed last Wednesday to keep its benchmark rate near zero through 2022. That’s an unusually long period for the Fed to be projecting rate policy. It reflects the fact that it will take many months and perhaps years for the tens of millions of jobs that were recently lost to return. During his press conference, Chairman Powell stumbled and stammered his way into stating that he would be happy to let inflation continue to rise until the economy approaches full employment. Jerome Powell: We’d be looking to get inflation back up and we’d be prepared to tolerate, uh, […]
Frank Holmes: “Silver is going to have a sudden, massive move to $50 that everyone will be surprised over…”
Mike Gleason: It is my privilege now to welcome back Michael Pento president and founder of Pento Portfolio Services. Michael is 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 it’s always a pleasure to have him on with us. Michael, thanks for the time again today and welcome back. Michael Pento: Thank you so much for having me back on Mike. Mike Gleason: Well, Michael, it’s been a few months since we’ve had you on last and just a little bit has been going on […]
Investors Confused as Governors Spur Protests While Keeping Others Locked Down
A violent and chaotic week in America’s cities was met with little apparent concern on Wall Street. For the most part, the stock market continued on its merry way higher. Precious metals markets, meanwhile, are giving back some of their recent gains. It’s no surprise that silver encountered some resistance at $19. In fact, on May 26th we had pointed to that very level being the next important target for silver in weekly Money Metals News Alert we send out via email every Monday morning. $19 was also the high point for silver in late February before the steep selloff began. So, this week silver essentially made up for all […]
Michael Pento: “Central Banks Have Jumped the Shark,” May Even Buy Stocks
Mike Gleason: It is my privilege now to welcome back Michael Pento president and founder of Pento Portfolio Services. Michael is 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 it’s always a pleasure to have him on with us. Michael, thanks for the time again today and welcome back. Michael Pento: Thank you so much for having me back on Mike. Mike Gleason: Well, Michael, it’s been a few months since we’ve had you on last and just a little bit has been going on […]
Is America Headed for a Post-Apocalyptic Currency Collapse?
Just when it seemed as though America may be turning the corner after months of lockdown… just when it seemed as though we were on a path to reopening and gradually returning to normalcy… just when the prospects of panic-induced social unrest seemed to be behind us… …America’s cities erupted into flames. Antifa and BLM-organized rioting, looting, violence, and mayhem have pushed cities across the country into pandemonium. Even if the insurrections are soon quelled – as President Donald Trump promised to do in a speech in front of the White House on Monday – the consequences won’t soon go away. Some epidemiologists seized on the protests to predict a […]
Social Unrest Rises as Confidence Falls
Protests egged on by the legacy media quickly devolved into large-scale riots and looting over the weekend in more than a dozen U.S. cities. Some important institutions have betrayed the public trust, and Americans facing quarantine and staggering unemployment have arrived at the boiling point. Meanwhile, the ranks of people buying gold and silver as a hedge against economic chaos and financial malfeasance swelled again in recent months. A new wave of Americans is grappling with what it means for Congress to spend trillions it doesn’t have. Or for Federal Reserve bankers to print trillions of electronic notes and hand them over to their friends on Wall Street. Seymour Hurst […]
Gerald Celente Unloads: “We Got Sick Bastards DESTROYING Our Lives and There’s Hardly Any 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 has been a regular guest on the Money Metals Podcast over the years and is perhaps 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 and welcome back. Gerald Celente: Well thanks for having me back again Mike. Mike Gleason: Gerald, I’d like to start by getting your outlook on what lies ahead for the nation. Some states are easing the lockdown. Other places, such as California, are extending such restrictions. Regardless, there has been […]
Trump vs. Biden: What’s at Stake for Metals Investors?
The China virus, the economic lockdowns, and the multi-trillion-dollar rescue efforts of central bankers have dominated markets over the past three months. However, as lockdowns gradually lift and the 2020 election draws nearer, investors will begin to focus more on political developments. The once-strong economy that President Donald Trump had hoped would propel him to re-election has collapsed. The President has also taken a tremendous amount of heat from the media over his handling of the COVID-19 crisis, and that has hurt his poll numbers. Despite these headwinds, polls show Trump still has a good chance of defeating a stumbling and bumbling Joe Biden. The opinions of pundits and pollsters […]
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