July 8, 2020 by SchiffGold 0 1 Bailouts are the name of the game right now. It seems like everybody is in line for a bailout. Airlines. Movie theaters. Small businesses. Hospitals. Not to mention the fact that the Federal Reserve has resorted to directly buying corporate debt. Conventional wisdom tells us this is necessary. After all, the… Read More
July 8, 2020 by Michael Maharrey 0 0 The Federal Reserve serves as the engine that makes all of the US government’s unconstitutional spending possible. Without the Fed, the entire system would collapse. Just consider this: in March and April of this year, the Federal Reserve effectively monetized 100 percent of the new debt taken on by the… Read More
We are all used to the bullion banks covering their shorts on Comex by waiting until the speculators are over-bullish and vulnerable to mark-downs that trigger their stops. Algorithmic traders go from long to short in a heartbeat as well, and they dump contracts into a falling market, speeding up the decline. We should say… Read More
July 7, 2020 by SchiffGold 0 0 Last month we reported that the Chinese government has launched a pilot program for a digital version of the yuan. The virtual currency ups the ante in the war on cash and creates the potential for the government to track and even control consumer spending. China isn’t alone in using COVID-19… Read More
Gold – Entering the red zone with room to run in terms of distance from the 60-day moving average. Silver – Stage 1 still in progress. Reproduction, in whole or in part, is authorized as long as it includes a link back to the original source. Source: GoldBroker.com
Miles Franklin sponsored this article by Gary Christenson. The opinions are his and are not investment advice. Suppose you knew tragedy would occur at the end of a long journey. That knowledge would change your behavior, attitudes, and expectations. Global financial systems are near the end of a long journey. What Long Journey? Most unbacked… Read More
July 6, 2020 by SchiffGold 0 0 On June 9, the national debt surged above $26 trillion. Just over one month before that, the debt eclipsed $25 trillion. And 28 days before that, the national debt stood at a mere $24 million. May’s budget shortfall came in at a staggering $398.8 billion, pushing the fiscal 2020 deficit to… Read More
◆ Physical Demand Supply Imbalance Spreading from Gold to Silver and Platinum and Prices To Gain ◆ ‘Chaos’ in gold markets ripples to silver and platinum markets ◆ Silver, platinum exchange physical bar deliveries surge as banks reposition ◆ Falling open interest signals increase of metal on CME exchanges as turmoil causes inventories to jump… Read More
More new people may have made their first purchase of physical gold or silver in the past 4 months than in any four-month period in history. This sort of data isn’t reported and tracked. But if our experience as one of the nation’s largest precious metals dealers is representative, we believe that’s the case. We’ve… Read More
July 3, 2020 by Michael Maharrey 0 0 Independence Day has always been one of my favorite holidays. I love the food, the fireworks and the parades. And the message of independence has always resonated with me – ever since I was a little kid. Unfortunately, Fourth of July festivities have been canceled in most cities and counties … Read More
July 3, 2020 by SchiffGold 0 0 Gold just finished Q2 at its highest level in over 8 years, wrapping up its best quarter since 2016. The Fed monetary policy in response to the coronavirus pandemic has put a strong tailwind behind gold. But as host Mike Maharrey details in this week’s Friday Gold Wrap podcast, gold has… Read More
With stockmarkets barely ruffled, few are thinking beyond the very short-term and they are mostly guessing anyway. Other than possibly the very short-term as we emerge from lockdowns, the economic situation is actually dire, and any hope of a V-shaped recovery is wishful thinking or just brokers’ propaganda. But for now, monetary policy is to… Read More
July 2, 2020 by Michael Maharrey 0 0 Gold just had its best quarter since 2016 and finished at its highest level in over eight years. But Q2 2020 wasn’t an anomaly. Gold has charted gains for seven consecutive quarters. That represents the longest quarterly run of gains for the yellow metal since the 2008 financial crisis. Looking… Read More
July 2, 2020 by Michael Maharrey 0 0 Don’t expect the Federal Reserve to pull back on its monetary Hail Mary anytime soon. The central bank released the minutes from the June meeting yesterday. There were no big surprises, but they did reaffirm the Fed’s commitment to continuing its unprecedented monetary policy into the foreseeable future. And it… Read More
◆ Central Banks are “Gold’s Greatest Ally” and Will Push Gold Prices Much Higher Jim Rickards holds gold bar in Zurich vault You’re likely aware of the price action in gold lately. Gold has rallied from $1,591 per ounce on April 1 to $1,782 per ounce as of today. That’s a 12% gain in less… Read More
Welcome to this week’s Market Wrap Podcast, I’m Mike Gleason. Last week we heard the first half of an interview Money Metals president Stefan Gleason did during a recent 360 Gold Summit. Today we’ll hear part two of that interview. Stefan gives some important warnings to gold and silver investors; discusses why he favors one… Read More
July 1, 2020 by SchiffGold 0 0 Gold just wrapped up a strong quarter, up 13%, and finishing at the highest price level in over eight years. On the year, gold is up about 16% and many mainstream analysts are starting to eyeball record gold prices in the coming months. But there has been some drag on the… Read More
Source: Finiz.com ◆ Gold is the top performing asset in the world in the first half of 2020, outperforming all stock markets including the S&P 500 and the Nasdaq and outperforming “safe haven” U.S. government bonds (see table above). Gold had an 18% gain in dollars in the first half of 2020 as risk assets,… Read More
As third quarter trading kicks off following a tumultuous first half of the year, investors are hoping for an auspicious July. Both stocks and precious metals posted impressive advances in the second quarter. The S&P 500 finished the April-June period with a gain of nearly 20%, its best quarterly performance since 1998. The Dow Jones… Read More
June 30, 2020 by SchiffGold 0 0 Citibank has joined other mainstream gold bulls calling for record gold prices. Citi raised its gold price forecast this week. It now projects a three-month price of $1,825 per ounce and for the yellow metal to head into record territory in 2021. Citi analysts expect gold to eclipse the $2,000 mark… Read More