Latest Gold & Silver Price News

Why Debt, Default, and Taxes Are Destructive In The Long Run

| December 8, 2014 | Category: Economy
Why Debt, Default, and Taxes Are Destructive In The Long Run

The official US National Debt is about $18,000,000,000,000, or 57 times the current market price of the US gold SUPPOSEDLY stored at Fort Knox, the NY Fed, and elsewhere. With so much paper in the system it is easy to see why the Fed publicly denigrates gold. In the single year from Sept. 30, 2013 to Sept. 30, 2014, the US official national debt increased by over three times the value of all the gold that the US supposedly owns. The total debt and the increase in that debt is clearly “a problem.”

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Gold Investors Weekly Review – December 5th

Gold Investors Weekly Review – December 5th

In his weekly market review, Frank Holmes of the USFunds.com summarizes this week’s strengths, weaknesses, opportunities and threats in the gold market for gold investors. Gold closed the week at $1,192.51 up $25.10 per ounce (+2.15%). Gold stocks, as measured by the NYSE Arca Gold Miners Index, rose 1.90%. The U.S. Trade-Weighted Dollar Index slipped 1.13% for the week.

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First Signs Of Gold And The Dollar Decoupling

| December 6, 2014 | Category: Price
First Signs Of Gold And The Dollar Decoupling

Friday aside, the dollar has not had as much impact on gold’s direction as it did previously, for the dollar index has continued in its upward trajectory this week. Therefore, it will be very interesting to see how the yellow metal will do relative to the dollar’s performance next week. If the greenback continues in its upward trajectory, but gold fails to head in the opposite direction, then one could conclude that the two assets have decoupled for now. So, there is a chance that investors are finally starting to treat gold as an independent asset, not a USD-denominated FX pair.

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Gold-Backed Currency? Not Any Time Soon Based On The Trends, But Be Prepared.

Gold-Backed Currency? Not Any Time Soon Based On The Trends, But Be Prepared.

Most trend bottoms have a certain look about them, and weekly silver does not fit any pattern with which we are familiar. It could be the result of central bank artificial manipulation as opposed to the natural forces of supply and demand. If it turns out to be the bottom, fine, but for now, there is no confirmation either way. What we know for certain is that every bottom undergoes a process of retesting, with none yet apparent.

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U.S. Jobs Report Hits Euro, Bonds And Gold

U.S. Jobs Report Hits Euro, Bonds And Gold

Non-farm payrolls for November surged to 321,000, which was the biggest monthly gain since January 2012. This positive news on the labor market weighed on the 20+ YR T-Bond ETF, the Euro ETF and the Gold SPDR. Bonds were down because this puts more pressure on the Fed to raise rates in the middle of 2015. The Euro was down because US economy is growing much faster than the European economy and demand for Dollars is outpacing demand for Euros. Gold was down because the Dollar was up and there is less demand for a safe haven.

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Spot The Bubble: Gold Price vs Citi Stock

Spot The Bubble: Gold Price vs Citi Stock

Citi analyst Buiter claims gold is a 6000-year-old bubble, perhaps Mr. Buiter has not seen this chart?

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Could Gold Surprise Us All?

| December 4, 2014 | Category: Price
Could Gold Surprise Us All?

Consider the fact that Gold has failed to break down below $1,200 properly on back of very negative news, where Swiss Referendum has voted no to Gold backing. Many great investors, such as Marc Faber, who taught me throughout my career that when an asset fails to break lower on very negative news, it is a sign that a major reversal in trend could be in the cards. Instead of the Gold falling to lower lows, price has recently shown that sellers have potentially exhausted themselves. Could we see a breakout, instead of a group-think breakdown, from the wedge seen in the chart?

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Metals Look Bullish As Evidenced By Gold to Silver Ratio

| December 3, 2014 | Category: Price
Metals Look Bullish As Evidenced By Gold to Silver Ratio

Adding evidence to the bullish case, is the magnitude of how oversold Silver became. On Monday Asian trading hours, Silver was being dumped so quickly that it reached 80 on the ratio between it and Gold in matter of hours. This level isn’t a magic by any means, but has usually been some kind of a historic floor and good buying spot. We have seen major bottoms at this ratio level in 1986, 2001, 2008 and maybe even currently (in early 1990s ratio widen even more).

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New Signs Gold and Silver Are Returning as Monetary Assets

New Signs Gold and Silver Are Returning as Monetary Assets

Granted, it seems unlikely that the U.S. or any major country will return their currency to a classical gold standard anytime soon. But signs abound that precious metals are re-entering the public consciousness – and will be playing a more prominent role in monetary systems as geopolitical tensions rise, debt levels become more unmanageable, and public confidence in political institutions wanes.

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Palladium Outshines Other Metals

| December 2, 2014 | Category: Price
Palladium Outshines Other Metals

It has been a rough ride for metals over the last six weeks, but two stand out since mid October. The PerfChart below shows the percentage change in six key metals since mid October, which is when the stock market bottomed. The Silver ETF, Gold SPDR, Platinum ETN and Copper ETN are down, while the Aluminum ETN and Palladium ETF are up. I would not go as far as to suggest that money is rotating into aluminum and palladium, but these two are clearly the strongest of the lot.

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Ted Butler’s Comments On The Latest COT Report

| December 2, 2014 | Category: Trading
Ted Butler’s Comments On The Latest COT Report

In the Managed Money category, the traders there covered 6,776 short contracts at a huge profit. This short covering by the Managed Money traders was all rocket fuel that Ted Butler says won’t be there on the next rally, which may be underway. The ‘non-blinking’ non-technical funds in the Managed Money category blinked a bit, as they sold 1,652 contracts of their long position.

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Dramatic Increase in Gold Flows into China

Dramatic Increase in Gold Flows into China

The larger rationale for holding precious metals is even better – when times are good and people have more disposable income, as literally hundreds of millions of “Chindians” are in the process of achieving right now – the buy-and-hold demand for precious metals looks destined to rise in a big way and continue doing so in the foreseeable future.

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Gold Price 3% Higher Today While Silver Jumps 5.8% On Huge Volume

| December 1, 2014 | Category: Price
Gold Price 3% Higher Today While Silver Jumps 5.8% On Huge Volume

Today was a very exceptional day in the precious metals. COMEX Gold soared with 3.05% on the day on very high volume. Although that is certainly good news for gold bulls, the most exceptional characteristic was the huge jump from its intraday lows. The yellow metal touched $1,140 after a big decline which started in overnight trading (Asian opening) before making a big reversal, straight up to $1,220 in a matter of hours. That is a 5.9% intraday swing. It goes without saying that the price action is very encouraging.

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Silver: Anomaly In Open Interest

| December 1, 2014 | Category: Trading
Silver: Anomaly In Open Interest

Open interest is roughly 175,000 contracts, which is about 875,000,000 ounces of paper silver. At market price that is about $13 Billion, or only about 15% of what the Fed created each month during QE3. It would take very little digital currency, relatively speaking, to buy all the open interest, or to crush prices via naked sales of paper contracts. Stacks of physical silver are much safer and far more “real.”

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