• Tag Archives Precious Metals
  • Stocks and Precious Metals Charts – Building a Dream

    “Seek the Lord, all you humble of the land,
    who have observed his law;
    Seek justice, seek humility;
    And perhaps you will be sheltered
    on the day of the Lord’s justice.
    This was the triumphal city, high and mighty,
    Saying to herself, ‘I am the one, and none dare stand beside me.’
    How desolate now has she become, a place fit only for wild beasts.
    Those who pass by her scoff, and shake their heads at her ruin.”
    Zephaniah 2:3,15
    I have a feeling that we are going to be seeing some real fireworks in the precious metals before the end of the year.
    But feelings really do not count in markets. But it is there, tempting my trading discipline. I know that you have never experienced that. lol.
    Stocks bobbled a bit today. I also think we will be seeing a slide in stocks. But let’s see how the earnings come out, and what the Fed does about their bloated balance sheet.
    While I am not so sure yet about where gold and silver and stocks are going, here are three things that I am pretty sure about.
    1. There is no sustainable recovery. Basic items like housing and healthcare are fast outstripping the growth in real wages.

    This post was published at Jesses Crossroads Cafe on 27 JULY 2017.


  • Are Silver Prices Going Up in 2017?

    This is a syndicated repost courtesy of Money Morning. To view original, click here. Reposted with permission.
    Silver prices today (Wednesday, July 26) are off 0.4% from the one-month highs seen yesterday, but they won’t stay down for long…
    Silver currently trades at $16.43 an ounce, down 0.4% from yesterday’s $16.50 close. That was the highest settlement since June 30, when the metal closed at $16.57, according to data from FactSet.
    The silver price has been volatile in July, with the metal falling 7.2% from $16.57 on July 1 to a 15-month low of $15.37 on July 7. It has since rebounded 6.5% to today’s price of $16.43.
    With volatile price swings this month, our readers want to know if silver prices will keep going higher in 2017. That’s why Money Morning Resource Specialist Peter Krauth – a 20-year veteran of the precious metals markets – is going to share with you his silver price prediction for the rest of the year.

    This post was published at Wall Street Examiner by Alex McGuire ‘ July 26, 2017.


  • Stocks and Precious Metals Charts – Nocturne

    “A horse walks into a bar, the bartender says, ‘Why the long face?’”
    And so we had both an FOMC and a precious metals option expiration on the Comex today.
    Stocks are continuing to edge higher, although with a big less verve than previously.
    Pundits are now saying that a crash is probably at least two months away, so now is a good time to buy more stocks.
    You cannot make this stuff up.
    I think that the theory is that when the Fed starts unwinding their balance sheet in September, that the air of liquidity, which is one of key components of these bubbles, is going to start coming out of the markets much faster than it went in.
    And the result may be terrific – not with a bang, but a whimper.

    This post was published at Jesses Crossroads Cafe on 26 JULY 2017.


  • North Carolina Governor Signs Bill Eliminating Sales Tax on Gold and Silver

    North Carolina Gov. Roy Cooper has signed a bill into law exempting the sale and purchase of gold and silver from state sales taxes. This removes one barrier from buying gold, silver and platinum. It will also help encourage their use and take the first step toward breaking the Federal Reserve’s monopoly on money.
    Rep. Dana Bumgardner (R-Gastonia) and Rep. Jeff Collins (R-Rocky Mount) introduced House Bill 434 (H434) in March. The legislation exempts precious metals in various forms from state sales tax, including investment metal bullion, US Mint-produced gold and silver, investment coins and non-coin currency.
    The House passed H434 on second reading by a 104-8 vote in May. It then gave final approval on the third reading by a voice vote. The Senate concurred with a vote of 35-13 on June 27. With the governor’s signature, the law went into effect retroactively to July 1, 2017.

    This post was published at Schiffgold on JULY 26, 2016.


  • RECONCILING THE US DOLLAR OUTLOOK with the SUPER BULLISH GOLD AND SILVER COTs…

    Because the dollar has such an important bearing on everything, especially the Precious Metals, it is timely for us to take a close look at it here after its recent steep drop, for as some of you may have seen, a number of indicators pertaining to the dollar suggest that, possibly after some further downside it is likely to bounce, or at least take a rest in a sideways range for a while, before the decline perhaps resumes in earnest. We’ll start by looking at a couple of these indicators. The latest US dollar Hedgers chart, which is a form of COT chart, is certainly starting to look bullish, and until these positions ease somewhat, further significant downside for the dollar in the short-term looks unlikely.
    ***
    Meanwhile the latest Dollar Optix, or optimism chart, also shows that pessimism is getting overdone. This doesn’t necessarily mean that the dollar’s downtrend is done, however, as minor rallies can cause this to ease before it then plumbs new lows. These two indicators taken together suggest that a relief rally is likely in the dollar soon, perhaps after it drops a bit lower first, although they don’t mean that the rally will get very far.

    This post was published at Clive Maund on Tuesday, July 25, 2017.


  • FOMC Decision and Comex Option Expiration For Precious Metals Tomorrow – Beware the Leaven of the Pharisees

    “Beware the leaven of the Pharisees, which is pious, hollow hypocrisy. There is nothing covered that shall not be revealed, and hidden, that shall not be made known. Whatever has been said in the darkness shall be heard in the light: and what has been whispered behind closed doors shall be shouted from the roof tops.”
    Luke 12:1-3
    ‘Those among the fortunate rich who are not, in the rigorous sense, damned, can understand the neediness of poverty, because they are needy themselves, after a fashion; but they cannot understand true impoverishment.
    Capable of giving alms, perhaps, but incapable of stripping themselves bare, they will be moved to the sound of beautiful music, at Jesus’s sufferings – but His Cross, the reality of the self-denial of His Cross, will horrify them. For they want it all out of gold, bathed in light, costly and of little weight; pleasant to see, and hanging from a beautiful woman’s throat.’
    Lon Bloy
    The charts are still pretty much lined up in areas where one might expect to see some movement when volatility returns to the markets.
    The option expiry tomorrow is more significant for gold than silver.

    This post was published at Jesses Crossroads Cafe on 25 JULY 2017.


  • Against Irredeemable Paper – Precious Metals Supply and Demand

    The Antidote
    Something needs to be said. We are against the existence of irredeemable paper currency, central banking and central planning, cronyism, socialized losses and privatized gains, counterfeit credit, wealth transfers and bailouts, and welfare both corporate and personal.
    When we write to debunk the conspiracy theories that say manipulation is keeping gold from hitting $5,000 (one speaker here at Freedom Fest claimed gold will go to $65,000), we are not trying to defend the Fed. When we discuss the flaws in predicting that kind of price, and the error in expecting to profit from it, we are not expressing a pro irredeemable dollar view.
    We are saying there are good arguments against the regime of irredeemable paper currency – but this is not one of them. Irredeemable currency has two fatal flaws. One is the interest rate is unhinged.
    It can skyrocket as it did from the end of WWII through 1980, or collapse as it has been doing since then. Two is there is no extinguisher of debt. Debt grows – must necessarily grow – exponentially. As it has been doing for many decades.

    This post was published at Acting-Man on July 25, 2017.


  • Asian Metals Market Update: July-25-2017

    Factors which can affect markets
    Gold and silver need to break and trade over $1262 and $16.64 for another wave of rise. Sell off will be there if gold does not break $1262 and silver does not break $16.64. Trend after the FOMC statement will be the key. Cautious optimism for gold and silver despite the bullish technical. Crude oil seems to have formed a short term floor around $44 while copper seems to be in the race to outperform silver and zinc.
    Any reduction in Trump related risk is the only key factor that can cause precious metals to move into a short term bearish phase. I still expect an October interest rate hike by the Federal Reserve. Whereas markets are factoring in a December interest rate hike. One needs to watch for Trump related news as US economy is on a strong footing. Mild slowdown in US economy (if any) will be cyclical due to advent of American summer driving season.

    This post was published at GoldSeek on 25 July 2017.


  • Stocks and Precious Metals Charts For the Week Ending 21 July – No Fear

    “He who sows good seed is the Son of Man,
    the field is the world, the good seed the children of the kingdom.
    The weeds are the children of the evil one,
    and the enemy who sows them is the devil.
    The harvest is the end of the age, and the harvesters are angels.
    Just as weeds are collected and burned up with fire,
    so will it be at the end of the age.
    The Son of Man will send his angels,
    and they will collect out of his kingdom
    all who cause others to sin and all evildoers.
    They will throw them into the furnace,
    where there will be crying and grinding of teeth.
    Then the righteous will shine like the sun
    in the kingdom of their Father.
    Whoever has ears let them hear.”
    Matthew 13:30-43
    “No place so sacred from such fops is barred,
    Nor is Paul’s church more safe than Paul’s churchyard:
    Nay, fly to altars; there they’ll talk you dead:
    For fools rush in where angels fear to tread.”
    Alexander Pope, Essay on Criticism

    This post was published at Jesses Crossroads Cafe on 23 JULY 2017.


  • SWOT Analysis: Silver In the Spotlight

    Strengths
    The best performing precious metal for the week was silver, up 3.34 percent as investors loaded up on ETFs that purchase the physical metal, perhaps speculating that silver would outperform gold if the latter rallied. Gold traders and analysts remained bullish this week, for the fifth week, as the European Central Bank keeps its stimulus going, reports Bloomberg. In addition, as the dollar slumps amid an investigation into President Trump, gold heads for the first back-to-back weekly advance since early June, another Bloomberg article reads. Gold bulls are keeping their faith in the metal, reports Bloomberg, as the equity rally pares the yellow metal’s gains. Gold bulls have pointed to slow inflation and Fed concerns that asset prices look ‘somewhat rich.’ Similarly, a Bank of America Merrill Lynch survey shows fund managers are growing hesitant to buy U. S. equities. Jason Mayer of Sprott Asset Management says that the non-stop bull market has led to a lot of complacency where managers aren’t hedging. ‘Once that tide turns, that could prove to be bullish for gold and precious metals,’ Mayer said. After President Trump’s economic revitalization agenda once again faltered, the U. S. dollar fell to an 11-month low this week, reports Bloomberg. Opposition to Trump’s health-care reform bill, along with European shares dropping amid earnings disappointments, sent gold to its highest level this month.

    This post was published at SilverSeek on July 24, 2017.


  • SILVER GREEN ALERT – ONE OF THE BEST BUYING OPPORTUNITIES FOR YEARS…

    There will be no equivocating, fence sitting or any kind of hedging or expression of doubt in what is written in this update. Let me be absolutely clear: – we are now at the threshold of a barnburner rally in the Precious Metals sector, and silver is set to scream higher driven by a massive short covering panic, because short positions in it have ballooned in recent weeks to levels way above what we saw in December 2015, when silver hit its final bearmarket bottom, before the big sector rally during the 1st half of 2016.
    We have been on to this for some time, hence the rash of articles over the past couple of weeks on the site recommending various good looking gold and silver stocks, and we will look at more this weekend. This is truly a massive opportunity, but these low prices are not going to be around for much longer. So if you want to fully partake of this rally and buy at the current crazy cheap prices, and haven’t done so yet, you had better pull your finger out and get on with it, because this market is not going to wait on your convenience.
    Don’t be fooled into thinking that because silver has rallied towards still bearishly aligned moving averages over the past week or so that it must drop back towards its lows again. That huge candle early this month on big volume which we can see on the 6-month chart below was a final capitulation reversal candle – a bottom. While the price has since been edging higher, the COT has continued to improve to the point that it is even more extremely bullish, so we can expect this so far hesitant rally to gain serious traction soon. Even if we do see a dip, which is considered highly unlikely, it would simply make the picture even more positive, although it is now scarcely possible that it can look much more positive than it is already.

    This post was published at Clive Maund on July 22, 2017.


  • Stocks and Precious Metals Charts – One Day In Texas

    ‘Beware the Jabberwock, my son!
    The jaws that bite, the claws that catch!
    Beware the Jubjub bird, and shun
    The frumious Bandersnatch!’
    Lewis Carroll
    “Grigory Yefimovich Rasputin –
    spiritual advisor to the Romanovs.
    In 1916, at a dinner in his honor,
    he was poisoned, shot stabbed,
    clubbed, drowned, and castrated.”
    Hellboy, 2003
    “A shudder in the loins engenders there
    The broken wall, the burning roof and tower
    And Agamemnon dead.
    Being so caught up,
    So mastered by the brute blood of the air,
    Did she put on his knowledge with his power.”
    W. B. Yeats
    Tomorrow is a stock options expiration.
    Next week there will be a precious metals option expiration on the Comex and an FOMC meeting.
    If the metals can make it past these, then the path to a breakout may be clear.
    Stocks look toppy. Wait for it.

    This post was published at Jesses Crossroads Cafe on 20 JULY 2017.


  • JULY 20/MUELLER NOW EXPANDS SCOPE INTO TRUMP’S BUSINESS DEALINGS SENDS GOLD AND SILVER NORTHBOUND/GOLD UP $3.50/SILVER UP 5 CENTS/BANK OF AMERICA PULLS OUT OF ALL FUNDING FOR LARGE CHINESE CONGLO…

    GOLD: $1246.00 UP $3.50
    Silver: $16.38 UP 5 cent(s)
    Closing access prices:
    Gold $1245.00
    silver: $16.36
    SHANGHAI GOLD FIX: FIRST FIX 10 15 PM EST (2:15 SHANGHAI LOCAL TIME)
    SECOND FIX: 2:15 AM EST (6:15 SHANGHAI LOCAL TIME)
    SHANGHAI FIRST GOLD FIX: $1247.75 DOLLARS PER OZ
    NY PRICE OF GOLD AT EXACT SAME TIME: $1239.50
    PREMIUM FIRST FIX: $8.25
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    SECOND SHANGHAI GOLD FIX: $1246.52
    NY GOLD PRICE AT THE EXACT SAME TIME: $1238.10
    Premium of Shanghai 2nd fix/NY:$8.42
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    LONDON FIRST GOLD FIX: 5:30 am est $1236.55
    NY PRICING AT THE EXACT SAME TIME: $1237.70
    LONDON SECOND GOLD FIX 10 AM: $1238.70
    NY PRICING AT THE EXACT SAME TIME. $1239.15
    For comex gold:
    JULY/
    NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 0 NOTICE(S) FOR NIL OZ.
    TOTAL NOTICES SO FAR: 149 FOR 14900 OZ (.4634 TONNES)
    For silver:
    JULY
    34 NOTICES FILED TODAY FOR
    170,000 OZ/
    Total number of notices filed so far this month: 2956 for 14,780,000 oz
    XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
    end
    The key event today was the revelation that Mueller is probing Trump’s business interests around the globe. That sparked gold and silver to rebound after the bankers had targeted our precious metals to the dumpster today. That plan was foiled with the Mueller news.
    I would really like you to read the Stockman commentary at the bottom of my commentary. It is a must read..
    Let us have a look at the data for today
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    In silver, the total open interest FELL BY 1845 contract(s) DOWN to 207,844 DESPITE THE TINY RISE IN PRICE THAT SILVER TOOK WITH YESTERDAY’S TRADING (UP 4 CENT(S). TODAY WE HAD NEW SPECULATOR LONGS ENTER THE MARKET WITH THE BANKERS SUPPLYING THE NECESSARY PAPER. THE BANKERS ARE HAVING AN AWFUL TIME TRYING TO SHAKE THE SILVER LEAVES FROM THE SILVER TREE. HOWEVER SOME SILVER LONGS DID DEPART
    In ounces, the OI is still represented by just OVER 1 BILLION oz i.e. 1.061 BILLION TO BE EXACT or 152% of annual global silver production (ex Russia & ex China).
    FOR THE NEW FRONT MAY MONTH/ THEY FILED: 34 NOTICE(S) FOR 170,000 OZ OF SILVER
    In gold, the total comex gold FELL BY 2948 CONTRACTS DESPITE THE RISE IN THE PRICE OF GOLD ($0.50 with YESTERDAY’S TRADING). The total gold OI stands at 481,256 contracts. THE BANKERS ARE STILL LOATHE TO SUPPLY THE GOLD PAPER AND WISH TO COVER MORE OF THEIR SHORTS. SOME NEWBIE SPEC LONGS STARTED TO ENTER THE GOLD COMEX ARENA AGAIN. THE PLETHORA OF DATA RELEASED ON FRIDAY SHOWING RETAIL SPENDING BASICALLY COLLAPSING ALONG WITH SMALLER INFLATION NUMBERS MUST BE SCARING OUR BANKERS TO DEATH.
    we had 0 notice(s) filed upon for NIL oz of gold.
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    With respect to our two criminal funds, the GLD and the SLV:
    GLD:
    Today no changes in gold inventory
    Inventory rests tonight: 816.13 tonnes
    for 5 consecutive days, gold rises appreciably and yet gold inventory drops at the GLD
    (In the last 5 days gold rises $27.70 and yet GLD inventory collapses by 16.26 tonnes)
    GLD IS A MASSIVE FRAUD/INVENTORY SHOULD BE RISING NOT FALLING.
    SLV
    Today: : WE HAD A HUGE CHANGES IN SILVER INVENTORY TONIGHT/A WITHDRAWAL OF 945,000 OZ WITH SILVER UP AGAIN BY 5 CENTS
    INVENTORY RESTS AT 347.121 MILLION OZ

    This post was published at Harvey Organ Blog on July 20, 2017.


  • Preparing for THE Bottom: Part 4 – Gold Stocks and Bonds

    In the first part of the Preparing for THE Bottom series, we emphasized the need to be sure to stay alert and focused in the precious metals market, even though it may not appear all that interesting. We argued that preparing for the big moves in gold that are likely to be seen later this year should prove extremely worth one’s while. In the second part of the series, we discussed when, approximately, one can expect the key bottom in gold to form (reminder: this winter appears a likely target) and in the third part of the series, we discussed one of the confirmations that could indicate that the final bottom is in or at hand – the gold to silver ratio. The latter is not the only important ratio that one needs to keep in mind and in today’s article, we’re going to discuss two additional ones: the one based on gold and the bond market and a second one, which includes gold stocks and gold. Both ratios add to the clarity regarding the upcoming bottom and they could be used as confirmations that the bottom is indeed in or at hand.

    This post was published at GoldSeek on 20 July 2017.


  • Millennials Can Punt On Bitcoin, Own Gold and Silver For Long Term

    – Bitcoin volatility shows not currency or safe haven but speculation
    – Volatility still very high in bitcoin and crypto currencies (see charts)
    – Bitcoin fell 25% over weekend; Recent high of $3,000 fell to below $1,900
    – Bitcoin least volatile of cryptos, around 75% annualised volatility
    – Gold much more stable at just 10% annualised volatility
    – Bitcoin volatility against USD about 5-7 times vol of traditional forex trading
    – Cryptos remain subject to huge speculation with little fundamental analysis
    – Despite major differences many crypto currencies correlated, mimic one another
    – Extreme hype – bitcoin expert bets will eat own body part on national television
    – Millennials can punt on bitcoin, should also own gold and silver for long term
    – Cryptos mere ‘babies’ when compared to time tested gold and silver
    Editor: Mark O’Byrne
    Crypto volatility and hype shows immaturity remains
    The joy about working in precious metals is that for part of the weekend you can switch off.
    There is a precious time when markets are closed and you don’t have to worry about market movements and what might be happening. You check back in on Sunday afternoon/evening and can delight in the markets starting to wake up for the week ahead. This isn’t the case in cryptocurrencies.
    This weekend crypto-currency market participants got a wake-up call as to what 24/7/365 market trading really means. They watched the price of bitcoin plummet around 10% on Sunday morning (EST) alone. This contributed to bitcoin’s overall fall of 25% since last Thursday and into the weekend. Other crypto currencies fell by more.

    This post was published at Gold Core on July 20, 2017.


  • Thoughts On Gold

    From Jim Richards’ Strategic Intelligence:
    ‘Russia and China are well-positioned to execute the greatest gold short squeeze in history. Of course, they have no interest in doing so right now because both are still buyers who favor low prices. At some point, they will flip to hoarders who favor high prices, but not yet.’
    From Hugo Salinas Price:
    ‘The present monetary system of the world, based on the dollar, is on its death-bed. A fiat currency – such as the dollar – cannot be replaced by another fiat currency, he explains. Therefore the world will necessarily have to take up [precious metals] as the world’s money.’
    ************* From Steven Warrenfeltz of http://www.free-bullion-investment-guide.com
    Gold and Silver Are Moving Back Up
    GOLD (Warrenfeltz comments)
    Last week, after the dust settled from gold’s price drop, a ‘falling expanding wedge’ formed in gold’s price chart (below).
    All falling wedges are positive technical patterns, however for gold to confirm the pattern it will need to break above the upper resistance trend-line of the wedge.
    In addition, gold’s MACD (lower indicator) is showing that its direction is about to change from negative to positive, so we should continue to see gold climb this week, but some profit taking is also expected as it moves up.

    This post was published at GoldSeek on 19 July 2017.


  • Collapse of Western Civilization | Jim Rogers

    The following video was published by FinanceAndLiberty.com on Jul 19, 2017
    Debt is higher than ever. Therefore, this crisis ‘will be worse than anything in our lifetime,’ Rogers predicts. Governments, countries, and banks will fail, he says.
    How should we prepare? ‘If you start investing in things you don’t know about, I assure you you’re going to have real problems when the situation goes bad, ‘ Rogers warns, ‘Stay with what you know.’ He expects agriculture to do well going forward. In the short run, he in is bullish on the U. S. Dollar and bearish on precious metals. But in the long run, he sees confidence being eroded in the Dollar, and more movement into gold and silver.
    Rogers expects governments to restrict the use of gold and silver when the crisis hits.


  • Hedge Funds Are Losing Faith in Precious Metals

    Gold is out of favor with money managers and it’s not the only precious metal facing investor exodus.
    Hedge funds and other large speculators are hitting the exit as they brace for monetary tightening in the U.S. and Western Europe. Money managers are not waiting around for signs that the Federal Reserve may change its rate trajectory, as they turn bearish on precious metals. These charts show the trend in sentiment.
    In the week ended July 11, the net-long position in gold fell to the lowest in 17 months, before the metal posted its first weekly gain in six weeks. The changes came just before government data showed consumer prices were little changed, fueling speculation the Fed may take longer to meet its goal, especially after Chair Janet Yellen said earlier in the week she sees uncertainty over inflation.
    Silver is also losing its luster in the eyes of hedge funds. The position in gold’s cheaper cousin swung to a net-short from a net-long and is the most bearish since August 2015. Investors concerned by the prospect of higher interest rates exited in droves — just as the metal capped its biggest weekly advance in six months on dovish U.S. economic data.
    Money managers pushed their net-short position in platinum — used to curb vehicle emissions — to a record before data showed European car sales slowed in June as Brexit-related concerns weighed on a peaking vehicle market.

    This post was published at bloomberg