Precious metals news

"As investors across all asset classes limp toward the end of 2018, gold is approaching what has been a reliably strong season in recent years. Since 2013, there’s been a more than 80 percent chance of a positive return in gold prices in January."

With gold down $4.25 and palladium closing at $1239, Here's Harvey with an update on the metals markets...

"Interestingly, gold and silver are much closer to their BASE PRICE LEVELS than are the broader markets. Which is why I don’t believe we are going to see a crash in the precious metals prices along with the broader markets."

"Between 2004 and 2016 (the last year for which audited financials are available) unfunded liability quadrupled, to $123.8 billion, according to the Illinois Commission on Government Forecasting and Accountability, the Legislature’s financial watchdog unit."

"The Federal Reserve has rejected Wells Fargo & Co's plans to prevent further consumer abuses and told the scandal-plagued lender it needs stronger checks on management, according to three people with knowledge of the discussions."

"Credit-card delinquencies, application rejections, and involuntary account closures are all on the upswing, according to a report from the Federal Reserve Bank of New York."

World Gold Council chief market strategist John Reade projects healthy demand for physical gold in 2019 and said any kind of economic slowdown could boost demand — and the price — significantly.

How will the softening of both trade and monetary policy affect the gold market? Will gold finally be able to fly? Here's some insight...

"Market Cap to GDP is a long-term valuation indicator that has become popular in recent years, thanks to Warren Buffett. Back in 2001, he remarked in a Fortune Magazine interview that 'it is probably the best single measure of where valuations stand at any given moment."

"Bear in mind, I am not suggesting it is wrong for the Fed to hike. Rather, I suggest there should not be a Fed at all and interest rates should be left to the free market."

"A bear market in the S&P 500 — a decline of 20 percent or more from recent highs — would be a catalyst for an economic slowdown, according to Peter Boockvar, chief investment officer at Bleakley Advisory Group."

The arrest of Meng Wanzhou, daughter of the Huawei founder and prominent member of Chinese society (and the ruling party), for helping the company to violate US sanctions against Iran, likely slammed the brakes on any would-be trade progress between the two countries.

The stacking of gold is off the charts! What's this nation up to, why has it stacked so much physical, and what's this nation preparing for? Find out here...

"Comparing the current debt super-cycle to the previous one, which ended with the outbreak of World War II in 1939, 2007-09 were similar in nature to 1929-32, and the phase we are going through now is similar to 1935-39, where a sharply rising gap between poor and rich led to a monumental rise in populism."

If you see the future as China sees it, you need to have a meaningful exposure to physical gold. Anything that represents a small portion of your net worth will not provide the kind of asset and lifestyle protection you'll need. It's about the role it will serve in your finances, investments, and everyday way of life during a major currency upheaval.

The stock market got a nice bump on Monday with the news that there was a "truce" in the trade war. That lasted all of one day. The markets tanked on Tuesday as investors realized the "truce" really didn't mean anything. The Dow Jones plunged 799 points, a 3.1% drop. The S&P 500 declined 3.2%, while the Nasdaq was down 3.8%. As one news outlet put it, "investors are quickly realizing that the US-China trade war is not over. The tariffs already put in place remain. And new tariffs could be implemented if the two sides fail to make progress."
Well, yeah. Duh.
In his latest podcast, Peter Schiff said he wasn't surprised at all by the drop.

"There’s still no public code for the platform, meaning confirmation of its existence is practically impossible. Additionally, there are no charts reflecting confirmations, hashrate or network activity, making it difficult to verify the health of the platform."

"It's just like, 'Are you serious? Are you kidding me?' Like they destroyed my kids' life and my life, and now you want me to – 'We're sorry?"

"There was a time when European governments couldn't utter a fiscal policy statement without mentioning the word 'austerity.' Now, the policy seems to be out of favor. the concept seems to have all but disappeared from public discourse."

"There has been an explosion of discussion about whether to cancel student debts. Critics of the idea point out that wealthy people would be the main gainers, posing moral hazard. The debate has quickly slipped into a discussion of modern economies and whether it was moral to cancel the debts of people who are in arrears."