Precious metals news

Gold recently had two fake rallies, and price action has been worse than discouraging, but just how low can gold go? Here's some insight...

Dave Kranzler says the set-up is bullish, and it would only take one bad economic report or geo-political event to trigger a spike-up in price. Here's more...

China takes a bold step to take the commemorative coin beyond the realm of collectors and into the world of live commodity trading.

What is it about human beings that gives them such a titanic capacity for self-delusion? When credit is cheap and risk asset gains are easy, investors very readily drink the Kool-Aid and believe that this time, 2+2 = 22. Even as so many of the exact same macro issues that birthed the Great Recession stare us directly in the face yet again.

What happens when China moves from simply responding in kind to Trump's tariff raises to striking first? Obsessed with maintaining an image of strength and elected for life, Xi can afford economic measures that bring significant short-term domestic pain if they inflict the same on US citizens. Can Trump?

In Venezuela, the world's most depressing attempt at a monetary magic show continues. As it always does, so many years of corruption, value destruction, and political incompetence are demanding their pound of fiscal flesh. And no political statement, action, or mandate can change the fact that the bolivar is worthless.

And with such nosebleed valuations come historical comparisons stock, bond, and real estate enthusiasts are not going to like. This story always ends the same way: with a bang, then a whimper. Bubbles can inflate over a long period of time, but they only pop one way: suddenly and completely.

But the Nobel Prize-winning economist, for all his past accuracy in appraising overvalued markets, understands the basic, maddening truth that once a market has completely detached from its fundamentals, guessing exactly when that bubble will pop is impossible guesswork.

"...will trigger a Fed reversal in policy to “monetary insanity on steroids” and a peak in the dollar. This will be tremendously bullish for Gold..."

While it’s hard to buy low after a capitulation when bearishness is suffocating, that’s when fortunes are won. Here's where things stand today...

Chris says there's an intriguing, developing connection between the Chinese and Barrick, which brings a few questions to mind. Here are the details...

People talk about how gold "crashed" in 2008, but in 2009, investors flowed into gold as one of the top safe haven assets of choice. Here are the details...

SD Friday Wrap: It has been a rough week, but it's not over yet. Here's where we've been, and why we're still not in the clear...

Later in the afternoon, US stocks recovered to finish unchanged (S&P to 2905), while the 10-year yield moved back up to 2.996%. The DX remained firm but stayed below 95, and gold was $1,194 bid at 4PM with a loss of $8.

The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s precious metals news coupled with thoughtful analysis. You can subscribe to the podcast on iTunes.

I'm a pretty cynical person. And I don't really trust people. To call me skeptical would be an understatement. I'm the guy who wastes time Googling an even slightly sketchy sounding story posted on Facebook to see if it's really true. So, I don't think I would be very easy to scam.
Now, I'm not arrogant enough to think it could never happen. I'm sure there are ways I could be fooled. But I still find it really difficult to understand how some of these scammers ever make a dime. I mean, who actually believes that Nigerian prince is going to send them $8 million? Who actually goes to Target to buy gift cards to send to the Indian IRS agent? (Yes. That is a thing.) And who goes to a storage facility to buy cheap gold?
That last one ... It just happened. 

As Peter Schiff put it in a Facebook post, Trump promised to drain the swamp, but today, "The swamp is now bigger and more expensive than ever!"
The US government spent a record $433.3 billion last month, running up a monthly deficit of $214 billion, according to data released by the US Treasury Department.
That's $433 BILLION spent in a single month.

"The whole premise for gold going down, which is this phony premise...It’s like, man, there’s not going to be enough gold around..."

GoldSilver’s Senior Precious Metals Analyst Jeff Clark gets all sorts of questions from our customers. Today, we introduce The Jeff Clark Mailbag, an ongoing series that will feature some of the most frequently asked and interesting inquiries Jeff has received, along with his answers.

What's worse than having bought at the height of the subprime bubble? Having bought in a country where 1 in 4 (or more) "homeowners" still owe 25% (or more) mortgage debt than their house is worth, even after 10 years of Fed-induced real estate bubble reinflation nearly everywhere else.