Spot Prices and News Summary
Realtime Spot Charts
Market Brief: Action toward a multi-year bull market
07/26/2015 A crash at the Sunday night opening in Asia took gold down to $1085 to start the week. After a bounce, prices hit a 5-year low just above $1070 before a recovery to $1100 on Friday. Does this mark the low of the summer before typical August-September seasonal strength? It is anyone’s guess, and every gold commentator has expressed one. We believe a change is coming in the markets, with the US stockmarket due for a serious nearterm correction and the US and global economies weak beyond the wishful thinking of lemming investors. In any event, a bounce in gold back to the 1130-1135 area would be expected at this point. Interestingly, silver and junior minors performed relatively better than gold and seniors last week, and a reasonable trade on a bounce, given the current ratio around 75, would be to sell gold and buy silver. We continue to hold a core balanced portfolio of physical metals and miners.
To the Rescue!
Peas in a Pod: Disdain for Private Enterprise
If you’ve got a business, you didn’t build that!
Corporations and businesses don’t create jobs!
"There is a strange new and dangerous sentiment brooding below the spoken surface that whatever is going on in the world and in America today cannot go on much longer." Victor Davis Hanson: The Reckoning (Image: EdDriscoll.com)
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
The Fed Sets Another Trap "In these days of froth, the persistence of extraordinary policy accommodation in a financial system flooded with liquidity poses a great danger. Indeed, that could well be the lesson of recent equity- and currency-market volatility and, of course, plummeting oil prices. With so much dry kindling, it will not take much to spark the next conflagration." --Stephen S Roach, Dec 23, 2014
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