Precious metals news

In the afternoon, US stocks pared some gains (S&P +12 to 2723), while the 10-year yield ticked down to 3.08%. The DX pulled back to its mid-morning low of 92.38, and gold clawed back to $1293.

Gold is one of the most divisive assets on the planet, but is gold still a store of value? Here's the answer, with a twist... 

On Tuesday, the Dow Jones dropped nearly 200 points. Gold fell close to 2% and fell below the $1,300 mark. Meanwhile, bond prices dropped as yields on the 10-year pushed above the 3% level.
In his most recent podcast, Peter Schiff said we're witnessing a bond breakdown as it gathers momentum.
In fact, the bond market had one of its worst days all year Tuesday.

Have you heard about what's happening in Argentina?
We talk a lot about the impact of central bank monetary policy on the US economy. We recently made the case that the Federal Reserve is in the process of driving the economy into the ditch. But the Fed's easy-money policies have also played a role in blowing up bubbles in other economies around the world. Some of those may be in trouble as well.
Argentina's currency has lost about 12% of its value since April. In a recent article published on the Mises Wire, Economist Daniel Lacalle said the trouble in Argentina could be a signal that we've hit a "sudden stop" - when the flow of cheap dollars into an economy suddenly reverses. Once central bank can wreak havoc. Get two in on the action and throw in some irresponsible government policies and you have a real mess on your hands. 

Weekly cycle analysis shows a bottom due soon. Our work says summer will be very positive.

The British Gold Sovereign has been valued by soldiers, sailors, and merchants for centuries. This English coin is struck by The Royal Mint (UK). The Sovereign’s low premiums and fractional size make it an affordable gold investment today.

Bill Baruch, the head of futures and commodities brokerage firm Blue Line Futures, says that’s no reason to be in a bearish mood. It's time to buy.

Will Europe Succumb to Recession Before Interest Rates are Positive?

"Eventually, the manipulators run out of physical gold or a change in inflation expectations leads to price surges even governments cannot control. There is an endgame."

"The environment you’re investing through today is the norm; therefore, the problem must be the driver, the investor who doesn’t realize the road conditions are back to resembling 5pm rush-hour in a downpour."

"The next big maturity day is May 31st. On that day we get almost $29 billion maturing on month-end. Watch out below."

Italian coalitions were floating plans to ask for 250 billion euros in debt forgiveness for the country.

What history is telling us today is that no material reform has happened on Wall Street to give us any comfort that its serial corruption will not play a major role in the next recession. The Fed and the public will ignore this at their peril.

It’s almost time for the Federal Reserve to stop holding the market’s hand.

"The options appear to be a slow and painful cancer or a sudden crash...pick your poison well but know you won't recover from the cancer...but you may get better after the crash."

Morgan Stanley predicted in a report this week that "stocks can mount one last rally" this summer before hitting a peak during the second half of the year.

"People, far too many ordinary, as well as well-intentioned business leaders think or believe – they actually care about what happens to you, your family, or your business. Hint: They don’t."

"Fed tightening has been a reliable catalyst for the bursting of asset bubbles globally. This time will almost certainly be no different."

Fed's Williams sees the central bank raising rates less than in previous expansions, despite a healthy economic outlook

Who didn't see that coming?