Spot Prices and News Summary
Realtime Spot Charts
Market Brief: A multi-year bull market
11/12/17 Spot gold closed at 1275, up just $5 after being battered by large futures selling over a few minutes on Friday morning. Gold had reached a high for the week of 1288 the day before. Spot silver closed at 16.88, up 4 cents, and the gold-silver ratio closed at 75.5. Miners continued to trade in a narow range and rose 0.5% (HUI).
With the dollar likely to rise over the coming weeks, gold is likely to struggle, now looking like it will test support around 1210 in our view. A sharp drop in miners would shake out weak holders in preparation for a strong rally in late December or the new year. We will use the coming weakness to add to our positions in miners, some of which will be subject to tax selling over the next several weeks.
“We’re presently at a major historical juncture – a time in which much of the former free world is in the final stages of decay and approaching the tyranny stage.
“At this point, the process tends to speed up. We can observe this as we see an increase in the laws being passed to control the population – increased taxation, increased regulation and increased promises of largesse from the government that they don’t have the funding to deliver.
“When any government reaches this stage, it knows only too well that it will not deliver and that, when the lie is exposed, the populace will be hopping mad. Therefore, just before the endgame, any government can be expected to ramp up its police state. The demonstrations by governments that they’re doing so are now seen regularly – raids by SWAT teams in situations where just a small number of authorities could handle the situation just as well. Displays of armed forces in the street, including armoured vehicles, in instances of disruption.” — Jeff Thomas Read the article
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