Precious metals news

John has an update on his efforts to find Australia's missing gold, and he also has an important discussion on the coming Global Financial Crisis 2.0...  

The 10-year yield climbed back to 3.173%, while the DX remained choppy but a little lower, trading between 95.80 – 95.95. Gold was $1,230 bid at 4PM with a gain of $8.

Brien says investors are finding reasons to buy gold instead of looking for reasons to sell it. Here's what Brien sees coming for the markets and for gold...

As we reported last week, China is dumping US debt. China’s holdings of US Treasuries fell for the third consecutive month in August. The Chinese shed another $6 billion in US debt, dropping its total holdings to $1.165 trillion. Over the last year, China’s holdings of Treasury bonds fell by $37 billion year-on-year.
But China has debt problems of its own. Local Chinese governments have reportedly piled up about $5.8 billion in debt. An S&P analyst called Chinese debt "an iceberg with titanic credit risks."
Peter Schiff recently appeared on RT to talk about the US and Chinese debt. 

In fiscal 2018,  the national debt expanded by more than $1 trillion. According to data released by the Treasury Department, it was the sixth-largest fiscal-year debt increase in the history of the United States. A combination of increased spending along with shrinking revenues continues to expand the federal deficit and balloon the national debt.
GOP apologists insist the revenue shortfalls caused by tax cuts are temporary and economic growth spurred by tax relief will eventually turn things around. Tax relief is great, but without substantive government relief in the form of spending cuts, the promised economic growth won't likely materialize. 

Michael says it is getting exciting in the gold market, especially for those who are long gold. Here's why...

"We are entering a time when the economy was likely to slow down anyway, but if stocks continue to crash and global banking woes escalate, that is going to spread fear and panic like wildfire."

"Gold futures rise to a more than three-month high early Tuesday in New York as global equity markets suffer sharp losses, partly sparked by the resurgence of global growth fears as China halted a two-session rally." In early trading, the Dow, Nasdaq and S&P 500 were all off more than 1.3%.

In every direction, policy and law for sale: “There is no force on earth that can stand up effectively, year after year, against the thousands of individuals and hundreds of millions of dollars in the Washington swamp aimed at influencing the legislative and electoral process.”

For the better part of a decade, banks could count on depositors to provide them with free capital to invest, and the banks could keep 100% of the profits while supplying no interest in return. After several successive Fed rate hikes, consumers are finally able to demand interest once more.

Harvey says so far in 2018, the amount of gold transferred via EFPs from COMEX to London surpasses annual gold production. Here's an update...

While Brexit drama makes for compelling headlines and keeps eyeballs diverted from London's faltering real estate market, there are plenty of other systemic issues that will put continued pressure on one of the world's most overpriced housing sectors.

The more the EU and its representatives ramp up the no-compromise rhetoric against Italy, the more it obscures the most basic truth: Italy is too big to fail, and no matter how distasteful the eurozone finds the reality, it is on the hook for its debt.

There are several fundamental reasons to think the gold market is turning the corner and starting to move higher. Here are a few of those reasons...

Dave Kranzler casts the fundamental analysis aside for a moment to show the gold sector is set-up, technically, to make a big move. Here are the details...

While the U.S. Shale Industry produces a record amount of oil, it continues to be plagued by massive oil decline rates and debt.  Moreover, even as the companies brag about lowering the break-even cost to produce shale oil, the industry still spends more than it makes.  When we add up all the negative factors weighing down...

Earlier this month, Peter Schiff wondered out loud if the twin deficits of government budget and trade could spark an October surprise. The month isn't over yet, but it certainly hasn't been a good one for stock markets.
The Dow is down 3.8% in October. And it's the best performing of the stock indexes. The S&P 500 is down about 4.7% on the month. The NASDAQ has dropped 7.4%. Dow Transports have plummeted 8.3%. And the Russell 2000 has suffered a 9.2% decline. Now, if you want some good news, look at gold. It's up about 3% this month. But all in all, there is a lot of gloomy news on Wall Street.
All of this doom and gloom led Peter to ask an important question in his latest podcast. How many canaries have to die in the coal mine before the mainstream wakes up?

In a podcast earlier this month, Peter Schiff talked about the "twin deficits" of national debt and trade. We've talked a lot about the federal debt spiral, and there has even been some discussion about it in the mainstream. But almost nobody is paying attention to the growing trade deficit. Peter is an exception. When the August numbers came out earlier this month, Peter noted it was the largest trade deficit in merchandise since the summer of 2008. And what happened right after the summer of 2008? The collapse of 2008.
The reason the trade deficit got that big is before the collapse, we had a bubble. We had a consumer debt binge where all the cheap money that was being created was feeding imports because Americans were taking their incomes, or their cheap money, and buying imported products. And so the big trade deficit was evidence of the bubble. And of course, the big trade deficits in and of themselves are unstainable.”
Antonius Aquinas has also taken note of the trade ...

Investors who lose money in gold may have fallen for these common falsehoods which can hamper returns. Here are the details...

"Housing, being one of the most cyclically sensitive sectors of the economy, often feels the impact of higher rates well before other areas. This alone implies a peaking of economic activity right about now, leading to persistently slower growth rates through Q1 2020."