Spot Prices and News Summary
Realtime Spot Charts
Market Brief: Action toward a multi-year bull market
07/05/2015 The gold price bounced off $1160, $25 off Monday’s highs, finishing the week at $1168, while the dollar index recovered from an early sharp sell-off. The dollar’s recovery was not impressive in the face of the risk to the euro, however, and suggests that weakness lies ahead. Gold’s seasonal low may be behind it now, while the dollar risks breaking below its 200-day moving average. The Greek drama highlights the issues of high debt and the reliance on zero interest rates in Europe and the US to stimulate economic growth. With aging populations, debt is likely to increase while productivity continues to decline. With central bank liquidity propping up global stock markets, there is a substantial risk that stockmarket tops are in. In a rational world, interest rates would rise and the bond bubble would pop, leading to higher prices for precious metals. Expecting rationality to prevail, 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