Tag: dollar

Why Not Gold Instead Of The US Dollar, Says Turkish Prime Minister

| November 13, 2012 | Articles: General

The international pressure on the usage of the US dollar as a world reserve currency is increasing. Turkish Prime Minister Erdoğan openly asked why the International Monetary Fund is not using gold as its reserves instead of the dollar. It’s becoming increasingly clear that the dollar isn’t necessarily a blessing but rather an issue for some countries. These are some highlights from what Erdoğan publicly said (source: Sabah.com.tr) Expressing that he doesn’t feel it is right for the IMF to act according to one nation’s currency, Erdoğan states, “The IMF extends aid on a who, where, how and on what conditions bases. For example, if the IMF is under the influence of […]

Continue Reading

The Age of Entitlement and Need to Own Gold

| November 13, 2012 | Articles: Insights
The Age of Entitlement and Need to Own Gold

This can be a good thing, if (and it’s a big “if”) the people do their homework and vote based on facts, not on rumor or innuendo – Shakespeare in Julius Caesar Many of our leaders, writers and philosophers have said similar things down the years and it would appear to be apt today. It’s time for us to admit that we vote for those who offer us the most regardless of how it will be paid for. As voters we are all for getting the economy sorted so long as it doesn’t involve our entitlements being diminished in any way at all. After all we have become accustomed to these benefits […]

Continue Reading

Technical Charts For Gold, HUI Index And The US Dollar

Technical Charts For Gold, HUI Index And The US Dollar

Looking at the gold chart below, we can see that gold has been correcting over the last two weeks. When applying some technical analysis to the gold chart, we can clearly see that there would have been overhead resistance at $1800 since most of the year gold has traded between $1550 and $1800. A few weeks ago, we also noticed a big build in the short position on the Comex’s Commitment of Traders report COT by the commercial and bullion banks. The effort to stop gold’s advance at a key resistance level was successful in part because of the huge increase in the short position at that level, which is […]

Continue Reading

The USD October Mystery and Its Influence on Precious Metals

The USD October Mystery and Its Influence on Precious Metals

Right now all currencies on the planet are backed by debt. If you need a refresher course in why fiat money can become toast, here are some words published this week on the website of Texas Congressman Ron Paul about fiat money and gold standard : Fiat money is not good money because it can be issued without limit and therefore cannot act as a stable store of value. A fiat monetary system gives complete discretion to those who run the printing press, allowing governments to spend money without having to suffer the political consequences of raising taxes. Fiat money benefitsthose who create it and receive it first, enriching government and its cronies. And […]

Continue Reading

Financial Astrology: A Silver Lining For the Dollar & Key Dates For Precious Metals

| September 25, 2012 | Articles: Insights

This article was written by financial astrology expert Karen Starich as a result of a Q&A with GoldSilverWorlds.   There have been some very significant events in the astrology recently that suggest a turn, or shift, has occurred for gold and silver, as well as for the dollar.  In July I wrote to my subscribers that on August 2nd  there could be a significant pullback to both gold and silver that could rattle investors who were long.  There was a harsh Saturn (rules gold and mining) aspect in the Federal Reserve’s chart that suggested a potential restriction on the metals that could have led to a serious pullback.  I also felt there was […]

Continue Reading

The Bottom Line on Gold, the Dollar, and the Euro

| September 15, 2012 | Articles: Insights
The Bottom Line on Gold, the Dollar, and the Euro

By Louis James, Casey Research One of the points we’ve made several times over the last year is that traders stuck in an old paradigm are frequently selling gold for the wrong reasons. The most egregious (or just plain silly) example is that gold often drops when the euro drops. This happens, not because there’s anything wrong with gold at such times, but because gold is priced in dollars. Instead of being thought of as a store of value in many investors’ minds, gold is viewed as a hedge against weakness in the dollar. But what are dollars priced in? Nothing, actually. Purchasing power is the underlying reality any “price” […]

Continue Reading

Infographic about gold, the dollar and inflation

| September 11, 2012 | Articles: Insights
Infographic about gold, the dollar and inflation

We were sent an infographic that was created by Wholesale Gold Group, a US precious metals dealer with a good reputation. The owner of the company Michael MacDonald, has recently written the book “The Silver Bomb: Beyond The Return Of Metal As Money.” The infographic shows how the purchasing power of the dollar has fallen dramatically over the past century and especially in the last decade. Basically it links an increasing inflation rate to the absence of a gold standard. The loss of the purchasing power is presented based on the Consumper Price Index (CPI). One dollar for example was worth 129% more in 1980 than it is today. Two […]

Continue Reading

Ratio Chart Looks Bullish For Gold

Ratio Chart Looks Bullish For Gold

This is sort of a follow up to Karen’s article a few days ago highlighting gold and silver as a sector that you’ll want to pay attention to in the coming weeks. Here is a ratio chart of the Gold:USD. If you are unfamiliar with what a ratio chart is here is Stockcharts definition: “You can divide any security by another and chart the results by entering the first security’s symbol, a colon (:), and then the second security’s symbol. For example, to compare how Intel has been doing relative to the Semiconductor Index, you’d enter “INTC:$SOX” in the “Enter Ticker” box of our SharpChart tool.” One of the main reasons […]

Continue Reading

Dollar Index is losing trendline support – Gold is breaking out

Dollar Index is losing trendline support – Gold is breaking out

The Dollar Index failed to hold the rising trendline support of the triangle on the near term 30 minute chart, see left hand side below.  This trendline was identified early in this past weekend’s update on the Dollar Index. The dominant pattern is still the bullish “Cup with a handle” on the weekly chart.  The Bulls are struggling with the extended neckline support there and failed patterns are very strong signals. The link to this past weekend’s update on the Dollar Index can be found here. Moving on to the precious metals, they are breaking out of chart patterns that were identified in this past weekend’s updates as well. The latest post on silver from last […]

Continue Reading

Peter Schiff: Priced for collapse

Peter Schiff: Priced for collapse

Where is the gold price today? If you’re like many Americans, you have no idea whether it went up, down, or sideways. Fortunately, I know my readers to be more informed – you likely know that after falling from almost $1900, gold has been trapped around $1600 since early May. But you may still be curious why despite continued money-printing and abysmal US economic reports, gold hasn’t been able to hit new highs. Here’s the truth: gold is currently priced for collapse. Many investors believe the yellow metal has topped out and are selling into every rally. Nerves of Tin Being a gold investor is tough business. The last thing […]

Continue Reading

Complex “Head and Shoulders” a “Cup with a handle” on Dollar Index and the Gold Triangle

Complex “Head and Shoulders” a “Cup with a handle” on Dollar Index and the Gold Triangle

Interesting topping pattern on the Dollar Index in the near term 30 minute chart, see left hand side chart below.  This is a complex bearish “Head and Shoulders” reversal pattern.  All of the right shoulders off the head have held their stop losses so far. The big issue is really the Weekly chart, see right hand side below.  There is a very bullish “Cup with a Handle” pattern.  Weekly charts are “numero uno” when it comes to understanding order flow from the larger degree timeframe traders.  Since the breakout there has been a few profit taking “Throwbacks” to the breakout area.  This cup with a handle is the dominant pattern and should […]

Continue Reading

Richard Russell: Get Rid Of Debt & Prepare For Tough Times

With continued uncertainty in global markets, the Godfather of newsletter writers, Richard Russell, issued the following warning: “This is the time to cut back on needless expenses — get rid of all the debt you can, and prepare for tough times.  I don’t like the utter calm and complacency that I see today.  The last few generations can’t conceive of drastic changes and hard times.” Richard Russell continues: “Deluxe restaurants are still full at dinner time, and people are still taking their families to expensive, fun places like Disneyland.  The only real signs of change are the ‘sale’ and ‘for rent’ signs that seem to be everywhere.  This bear market is going […]

Continue Reading

Are Lower Stock Prices in the Cards and What Would it Mean for Gold?

Are Lower Stock Prices in the Cards and What Would it Mean for Gold?

The Federal Reserve will hold a two-day policy meeting on July 31 that is expected to yield no change in U.S. interest rates, but markets will analyze and dissect every word of Chairman Ben Bernanke for any clues that the central bank will do more to promote economic growth. Already it seems that three top Federal Reserve policymakers on Monday laid the groundwork for a third round of bond purchases by saying the U.S. recovery was weak and unemployment too high, but at the same time they said the situation is not bad enough to warrant another QE right now. In the June 22, 2012 Premium Update we wrote that […]

Continue Reading

Gold Price: Flat from a Year Ago

Gold Price: Flat from a Year Ago

Friday the Thirteenth saw the Gold Price in Dollars do something it’s managed only 7 times in the last 11 years, writes Adrian Ash at BullionVault. Gold traded flat from 12 months before. If you bought on 13 July 2011, you hadn’t made a dime by the time New York got itself showered and brushed its teeth this morning. You held just the same Dollar-value one year later – basis the London AM Fix – at $1579 per ounce. Between then and now, in fact, anyone Buying Gold to insure, hedge or speculate-to-accumulate with their Dollar savings was more than likely to have paid a higher price, too. The Gold Price in Dollars has been higher than it […]

Continue Reading