Precious metals news

Nobody is left to refinance at this point. Homeowners had a solid decade to refi at as close to 0% as the market had ever been, so it's entirely sensible that the refi market is closed. What's a desperate mortgage broker to do? It's hard out there selling bubble-priced houses to bad credit risks.

Ghost cities. Imagine the outcry if President Trump decided to debt-spend billions to build empty buildings that house no one in the name of "economic progress." Yet that has been exactly what China has done. This ghost city in Baodi District, about 70 miles from Beijing, has an occupancy rate of 10%.

At a time when you can throw a rock and hit a "Never in the history of the stock market have stocks been this expensive" metric, this one stands out. A new ceiling for the absurd: an indicator that indicates 100%-greater current overvaluation than at the peak of the biggest bubble ever.

Here before you were born, here long after you're gone. Gold's extraordinary ability to pass on value through 50 generations on display in the form of a horned-animal-design earring dating back to the early Hellenistic period.

In extreme cases of inflation and hyperinflation such as the case of Venezuela right now, gold can literally help save lives. Here's why...

"by any traditional measure, the COMEX gold price is oversold and ripe for a rebound as Speculators are heavily grouped into the..."

SchiffGold’s It’s Your Dime features “straight talk” interviews with movers and shakers in the world of precious metals, investing and economics.
In this episode, I talk with Peter Schmidt about the dunces of Washington and Wall Street.

Peter Schiff appeared on RT America recently to talk gold.
The host noted the decline in the price of the yellow metal over the last few months and asked Peter if he thought it was because of the Fed's interest rate hikes. Peter said, "No." He said he thinks it has more to do with the "collective delusion among investors around the world."

Gold was $1213 bid at 4PM with a gain of $2 – again unable to breach and hold above the key down trendline at $1214.

Stewart says that while nothing technical or fundamental is really bad for gold right now, for gold to really take off, it needs to drop to this price level first...

Are we having fun yet? The world's least-exciting, most-damaging, all-loser ping-pong match continues unabated.

A peg implies both buying and selling to maintain the peg, but the Chinese aren't selling, so what else could be taking place? Here's some insight...

SD Midweek: Gold & silver really need to hold here, but with the dollar, the stock market, and the VIX, it will be difficult. Here's why...

The Fed, by way of "solutions", only has options that further compound the mistakes of its past at its disposal. Trapped in a system of its own creation that is now broken beyond repair, all it can do is delay the inevitable while giving disingenuous, empty speeches about how it has everything under control.

Managed Money Net Gold Futures are almost *never* out-and-out short. And they are right now, to the largest extent they have been in over a decade. The stuff historically-over-negative-sentiment inflection points are made of.

"Gold and silver hedge funds have the least exposed position to the gold market since 2016. We are seeing one of the largest negative correlations ever. All the other times that they were this extreme, the gold market bounced substantially."

The difficult work that is required when you're right about the fundamentals of hyper-overvalued markets, and the crash they indicate is inevitable, is sticking to your guns and being early (which appears at the time to be "wrong") and contrarian for a while. You never know how long the greed-delusion feeding frenzy will last. But it can't, and won't.

Pressed with economic and social issues within their own borders, the members of the European Union are increasingly retreating into themselves, seeking national solutions, and in direct conflict with the goals upon which the EU was founded.

The cost of living continues to ratchet up in the United States.
You don't need me to tell you this. You probably feel the squeeze in your own wallet. As Peter Schiff pointed out in his most recent podcast, the average wage rate has gone up 2.7% in the last year. Meanwhile, the Consumer Price Index (CPI) has increased by 2.9% during the same period. The CPI almost certainly understates the cost of living, but even if you take that number at face value, Americans are losing ground.
Most people accept inflation as "part of life." But why? Why do prices steadily increase? As Nick Giambruno put it in an article published by the International Man, "This is all a predictable consequence of the US abandoning sound money."

Gold is up. Way up.
I'm not talking about in the US. I'm talking about Venezuela. On July 30, an ounce of gold was going for 211 million bolivars. That's a 3.1 million percent increase from the beginning of the year.
We've said before that inflation is good for gold. The hyperinflation in Venezuela demonstrates this truth by offering us a glimpse into the most extreme situation. It teaches another lesson as well.
Gold could save your life.