Spot Prices and News Summary
Realtime Spot Charts
Market Brief: A multi-year bull market
09/17/17 The spot gold price trended lower through the week to a low on Thursday morning of 1318 and a close Friday of 1320, down $27. Silver held up relatively well until selling off late in the week to close at 17.59, down 42 cents. The gold-silver ratio was unchanged at 75.0. Miners fell sharply on Monday and then mostly resisted further selling to close down 5% (HUI).
The Fed announcement Wednesday could mark the low of the current consolidation or trigger more selling. In any event, we expect spot gold to work its way to the 1375-1400 area over the next few weeks. We expect miners to outperform.
The Left Decries our Post-Truth Society While Pushing the Ideas that Fuel It
“Relativism, subjectivism, and materialism are all bankrupt philosophies. Yet these are what drive our culture and politics. When objective truth and values are abandoned, there are no unifying principles of truth or morality that bind together the vast number of disparate individuals and groups that inhabit our nation.
“America’s greatness stems from its commitment to e pluribus unum — out of the many, one. Out of the many states, one nation. Out of the many races, religions, and backgrounds, one people. To achieve that—to bind together all these subjective entities into a functioning and civil whole—we need objective principles to which we are all committed.
“If we truly want to make America great again, if we really want peace and prosperity, we must return to the foundational principles and truths that made our nation great in the first place. If we want unity—e pluribus unum—we have to abandon subjectivism and once again embrace objective truth and morality. If we don’t, America will be transformed into a brave new world where truth is defined by the powerful.” Denise C. McAllister in The Federalist
Gold: Barbarous RelicCash or Gold? You decide. Watch full-screen.
"I see in the near future a crisis approaching that unnerves me and causes me to tremble for the safety of my Country. Corporations have been enthroned, an era of corruption in high places will follow, and the money power of the Country will endeavor to prolong its reign by working upon the prejudices of the People, until the wealth is aggregated in a few hands, and the Republic is destroyed." — Abraham Lincoln, Nov. 21, 1864
Is America Headed for Bankruptcy? (July 2016)
“America’s exploding deficit is cause for major concern and yet no presidential candidate in the running right now seems to be talking about it.” —Martin Feldstein
The Fed’s balance sheet is a pile of tinder, but it hasn’t been lit … inflation will eventually have to rise.
Where will the price of gold be in 5 years?
Greenspan: “Measurably.” (New Orleans Investment Conference, Oct 25, 2014)
Mercenary Musings: "We should always be cognizant that gold is the only real money and its true value is never subject to the decrees, fiats, machinations, whims, let alone the dreams, fantasies and whimsies of elected and/or autocratic national governments." — Micky Fulp