Precious metals news

While nearly everybody agrees the long-term outlook for gold is bullish, what would an Elliott Wave trader say about the near term? Here's the answer...

Stewart Thomson shares what he says may be the most beautiful chart pattern in the history of markets, and it's a gold chart! See it right here...

Right on schedule. At the very peak of bubbles, usually immediately prior to precipitous stock market declines, consumer confidence, fueled by that very bubble, hits extreme levels. And here we are.

Simple. It's not. Of the 120 million working-age, non-disabled Americans without a job, only 15 million are counted as "unemployed." The majority of the rest, a full 105 million, have been out of the workforce for more than six months and have given up looking, which, against all reason and logic, eliminates them from the statistical "unemployed."

A solid decade of booming global car sales, driven by easier-than-easy credit (in the US, even if you've burned every credit card bridge in the world, zero-credit/atrocious-credit car loans have been a dime a dozen), has come to a screeching halt as artificially inflated input prices, thanks to tariffs, take their toll.

If there's a metric that has to do with the American housing market right now it's underperforming expectations and headed in the wrong direction if you're hoping for rising prices and demand.

Secure in his position as Russia's leader for as long as he wishes to remain such, Putin can sit back, hoard gold, and form alliances with America's most bitter enemies. He can afford to wait as long it takes. Strategizing for a lifetime of consequences vs. a timeline of next few years, in politics and investing, is chess vs. checkers.

Perhaps the only other world administration less grounded in reality than the US's current one, North Korea knows they have the upper hand: Kim Jong Un simply needs to maximize PR opportunities and extract whatever delays and goodwill he can from the US, do absolutely nothing of substance, and wait. Sooner or later, he'll still be there, and Trump will be gone.

Xi enjoys enormous popular support among the people and has been installed as leader for life. Trump's reelection in just over two years is far from assured. Xi understands that he simply needs to stand his ground and wait, and as the trade war pain hurts both sides, his adversary will likely be gone, along with the tariffs, and he will remain.

America's "forgotten man and woman", who were promised policy that would boost wages and their quality of life, are in worse shape today than they were a year ago, as inflation has outpaced wage growth, which remains stagnant while tax cuts and corporate QE loans have handed giant windfalls to the richest 1%.

While the Fed has stopped its direct market support via QE for now, global central banks continue with their risk-asset prop-up regimes, and State Street estimates they will be net buyers of stocks, bonds, and other bubble-inflation supporting securities to the tune of $3T in 2018.

Chris Vermeulen has identified something the the US markets that investors may have overlooked, or are simply not prepared for. Here are the details...

TraderStef is bullish on gold long-term, but she also explains why we could be set-up to see a nice bounce in the near-term. Here are the details...

Rick describes the "negative trifecta" weighing on the gold price, but if price continues to fall, what effect could that have on supply? Here's more...

Many factors have negatively impacted the gold price. How are the miners holding up, and when could gold finally start moving higher? Here's some insight...

Friday was an active day in the markets. The S&P 500, the Russell 2000 and the Nasdaq all hit record highs. The Dow Jones didn't quite crack into record territory, but it was up over 100 points. Meanwhile, the dollar fell and gold was up more than $20.
In his latest podcast, Peter Schiff said he thinks the dovish speech by Federal Reserve chair Jerome Powell at Jackson Hole drove all of this. And it could have longer-term ramifications.

We are well into the third quarter of 2018. In our perpetual fast-forward world, analysts are already looking toward Q4. What will the last quarter of the year bring?
It's virtually impossible to predict the short-term. Who knows what kind of political event, natural disaster or emerging trend will drive the markets over the next few months?
Of course, we can't predict the future at all. We're not fortune tellers or Old Testament prophets, but as Dan Kurz notes in his latest post at DK Analytics, it is a bit easier to project what will happen to the economy in the long run because we can clearly see the big-picture dynamics and fundamentals underlying it. As he put it, he's less sure where America is headed in Q4 than ‘down the road' in general. The whole thing (political, financial, economic) could fall apart at any time."

There are specific reasons why Steve St Angelo is not looking for gold & silver to go much lower from here like they did in 2008. Here are the details...

The US 10-year yield ticked down to 2.844%, while the DX hovered between 94.75- 94.80. Gold pulled back but was able to hold support at $1,209 (Friday’s high). Gold was $1,210 bid at 4PM with a gain of $4.

Wells, it's harder to commit fraud on a mass scale when you have less people to do it. But, finding the market for lying, cheating, and swindling had shrunk, to optimize profits, Wells Fago decided it was time to downsize.