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Gold & Precious Metals

Embry – A Jaw-Dropping 8.6 Million Ounces Of Paper Gold Longs Just Blew Up At The Comex!

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Posted by John Embry via King World News

on Tuesday, 31 January 2017 06:12

King-World-News-Maguire-This-Triggered-Todays-Massive-Selloff-In-Gold-Silver-864x400 cU.S. Economy Weakest Since 2008 Collapse

John Embry:  “With all of the chaos regarding the immigration decrees, I think most observers have lost track of what is really happening with the U.S. economy.  Instead they are focusing on the turmoil in the country and the record highs on the Dow…

....continue reading about the Comex drop HERE

....also:

20,000 Dow but Will It Hold



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Gold & Precious Metals

Is the Gold Market Finally ready to breakout?

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Posted by Sol Palha - Tactical Investor

on Monday, 30 January 2017 06:59

If pleasures are greatest in anticipation, just remember that this is also true of trouble.

Elbert Hubbard

Throughout 2016, we stated we did not expect much from Gold, and we stuck to this forecast, even though many experts went out of their way to report that Gold was ready to soar to the Moon or even to the next Galaxy. In fact, since 2011, we have continuously said that until the Trend turns positive, it would be best to play other lucrative markets, such as the general equities market, the US dollar, etc. During this time several experts stated that Gold was ready to surge and some issued insane targets ranging from $20,000-$50,000. Under no circumstance can we ever see Gold going to $20,000 or $50,000 and even if drank a whole bottle of scotch or any other toxic compound it would still be very hard to visualise such a target. Issuing such targets is perfect for fear mongering, and we find that tactic to be unpleasant and distasteful.

You would think that experts would try to release targets that made some sense. After all, Gold has not even traded past $2,000, so it makes one wonder how any individuals with a shred of common sense could issue a target of over $5,000. Even this target is quite high, and we only envision it being struck under extreme conditions. Don’t fixate on these preposterous targets for such targets are only for those who live in Lala land and have plenty of time to ponder over rubbish. Gold would need to trade past $1990 on a monthly basis to indicate significantly higher prices. Until that occurs, focus on targets that are below $2,000.

Having said that Gold has for the time in many years issued a confluence of bullish signals. The trend is still neutral but moving closer and closer to the bullish zone.

Let's examine these bullish factors

Panic in the Gold Camp; we spotted a surge in frustration in the Gold camp when Gold traded below 1200 after creating the illusion that It was ready to take off in Nov 2016; this frustration soared when it broke below 1150, and it reached a screeching point when it traded below 1130

Many Technical Indicators, including several of our custom indicators are trading in the extremely oversold ranges on the weekly charts. Weekly charts, infers that each bar on the chart represents one week’s worth of data

8 out of the top 10 sectors based on relative strength are commodity based industries; Gold comes in at number 10.

Some speculative stocks such as GSS have taken off; GSS, for example, is several hundred percentage points since Jan of 2016. GSS did its own thing completely ignoring the price of Gold. Individually, this is not a big deal, but collectively it takes on more weight.

GSS Jan 2017

If you look at the weekly chart of GSS, you would not think this stock is in the Gold sector given the strong performance. When small caps stocks start to take off before the metal, it is usually a sign of good things to come. Markets are forwarded looking beasts so stocks like GSS could be pricing a future that is more favourable to Gold.

Technical outlook



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Gold & Precious Metals

Historical Official Records Reveal Gold’s Value Should Be 20 Times Higher

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Posted by SRSroccoREPORT

on Thursday, 26 January 2017 07:02

According to historical official records, the price of gold should be 20 times higher than the current market price.  While many precious metals investors have heard about the revaluation of gold to back the outstanding fiat currency, my analysis focuses on monetary gold stocks versus global GDP (Gross Domestic Product).

To understand how the global GDP versus monetary gold stocks has changed, we need to look at information and data published in the U.S. Bureau Of Mines 1932-33 Gold-Silver Mineral Yearbook:

US-1932-Yearbook-42-Countries-Abandon-Gold-Standard-768x454

As we can see from the text above, Britain abandoned the gold standard in 1931.  However, the most interesting part of the text above was, “It is surprising to learn that within a year 42 countries have abandoned the gold standard or are maintaining it artificially.”

Thus, in all actuality, the world abandoned the gold standard in the early 1930’s, even though the United States Gold-backed Dollar became the world’s reserve currency via the Bretton Woods Agreement in 1944.

Now, the Central Banks and Financial elite had a very good reason to drop the gold standard.  The financial and banking elite would profit immensely by printing money and charging interest, but only if money wasn’t gold or backed by gold.  Because, the increase in above ground gold stocks was limited to its annual gold production.  In addition, the industrial revolution had a profound impact on global economic growth.

In the past, international trade was mainly settled in gold or bills of exchange.  However, global economic growth was surging as the industrial revolution was now being powered by coal and oil.  These two energy sources enabled the world to increase economic growth at a massive scale and pace versus human and animal labor… which was the foundation of economic markets for thousands of years.

OIL ECONOMICS 101:  A Barrel Of Oil = 2,875 People Working An Eight Hour Day

For example, a barrel of oil provides the equivalent of 23,200 man-hours of labor (source). If we divide it by the typical eight-hour work day, a barrel of oil equals the labor of 2,875 people.  By taking that a step further, let’s look how daily U.S. oil consumption equates to human labor:

19 million barrels per day oil  X  2,875 people = 54.6 billion people per day


.....continue for more analysis and 6 charts HERE

 



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Gold & Precious Metals

How Much Of A Pullback Can We Expect?

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Posted by Avi Gilburt - Elliottwavetrader.net

on Wednesday, 25 January 2017 08:06

First published Sat Jan 21 for members:  Bulls and bears in this complex probably need a Xanax by now.  This market has swung so dramatically over the last several years that many are probably so whipsawed that they don’t know which way is up.  But, for now, the market is setting up in a manner to take us up even further in 2017, and potentially even further than many believe. 

As I noted last weekend, silver has finally joined the party, and has completed quite a full 5 waves up off the lows, and potentially even more.  And, as stated last weekend, since everyone was looking for a pullback coming into this past week, the market did just the opposite and continued higher early in the week.  So, can we see more of a pullback in the coming week?



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Gold & Precious Metals

Trump Is Gold Rally Accelerant

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Posted by Stewart Thomson - Graceland Updates

on Tuesday, 24 January 2017 08:31

Jan 24, 2017

  1. The 2017 gold market rally continues nicely, with a current pause at light overhead resistance in the $1215 - $1220 area. 
  2. Please  click here now. Double-click to enlarge this daily bars gold chart.
  3. Note the flat lining action of the 14,7,7 Stochastics oscillator at the bottom of the chart. That’s quite positive, and opens the door to a further move towards my $1245 target price area.
  4. Please  click here now.  Donald Trump is likely to be a positive catalyst for higher gold prices, for many reasons.
  5. On the geopolitical front, the South Sea island building by China looks like it could quickly become a major gold price driver.
  6. Trump has also been very clear about his goal of slowing US corporate outsourcing of labour to foreign countries. 
  7. This is quite inflationary and could end up creating a bit of an earnings quagmire.
  8. Please  click here now. Double-click to enlarge this daily bars US dollar versus Japanese yen chart.
  9. It’s true that US bond market yields have risen a bit, but Trump’s dollar-negative statements are overwhelming the rise and putting downwards pressure on the dollar against both the yen and gold.
  10. Gold has stopped rising at $1215 - $1220 at the same time as the dollar has stopped falling at 112.50 against the yen. 
  11. All Western gold community eyes should be focused on that 112.50 dollar versus yen price. If the dollar falls below that support, it should send gold through $1220, and on towards $1245.
  12. Many gold analysts have been trying to call an end to the current rally, and have been negative since the December lows. In contrast, I would argue that the rally is poised to accelerate.
  13. I don’t think these analysts really grasp the tremendous influence that Trump and his team can have on the value of the dollar against key currencies like the yuan and the yen.
  14. Please  click here now.  Double-click to enlarge this daily bars chart of the dollar versus the Swiss franc.
  15. The dollar is beginning to look like a train wreck on this chart. It’s broken down from a head and shoulder top pattern just as Trump has been inaugurated!
  16. When push comes to shove, the US Treasury has vastly more power than the central bank wields, and the Treasury has legal authority to devalue the dollar. The Fed has no such authority.
  17. Janet Yellen’s recent negative statements about Trump’s stimulus policies will fall on deaf ears, and may create a backlash. 
  18. Janet would not fare very well in a confrontation with Trump. I expect future statements from her about US government policy to become quite timid as she begins to realize how determined Mr. Trump is to lower the value of the dollar.
  19. Please  click here now. GDX is breaking out of a small ascending triangle, and making a beeline towards my $25 target zone.
  20. Technically, GDX looks superb now. The green downtrend line is now support, as is the horizontal resistance at $22.50!
  21. The bottom line is that the traffic light is turning green for most gold stocks, while President Trump turns it red for the dollar.
  22. Please  click here now.  Double-click to enlarge this Kinross daily bars chart.
  23. It’s blasting upwards from an inverse head and shoulders pattern at a key support zone. Investors can book some light profits near the $4.22 price zone, and use my unique pyramid generator to do so systematically.
  24. Donald “The Golden Trumpster” Trump may or may not make debt-soaked America great (he likely won’t), but he’s almost certainly going to make gold ownership a great investment during his presidency. I will dare to suggest it’s time for the Western gold community to throw a bit of caution to the wind, and sit back and enjoy this gold price rally. This is a rally that seems poised to accelerate in quite a shocking way, as the Golden Trumpster makes one dollar-negative move after another!

Thanks! 

Cheers
st



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