Gold World News Flash |
- GOLD – In Your Self-Interest
- 20 Signs That The U.S. Economy Is Heading For Big Trouble In The Months Ahead
- The Curious Case of Falling Gold and Silver Prices
- Gold Sitting at Ledge of 2-Year Support Cliff
- The Chart That Tells You All You Need To Know About Gold
- Currency wars: It’s starting to look a bit too much like 1931, February 19, 2013 – YouTube
- The Curious Case of Falling Gold and Silver Prices, February 20, 2013 – YouTube
- Inflation In Venezuela Has Made Used Cars More Expensive Than A New One!!!! – YouTube
- Marc Faber - Major Bottom Forming In Gold But Stocks Shaky
- California pharmacy floods population with free antibiotics, promoting deadly superbugs and environmental pollution
- Gold and Silver Update: “Have the Courage of Your Convictions and Hold Fast”
- Silver Lords
- Impulse and silver and investing
- Gold and Silver Nearing MAJOR Long Term Support
- BitCoin at Parity with Silver!
- Whatever It Takes
- America's TBTF Bank Subsidy From Taxpayers: $83 Billion Per Year
- Gold Continues to Break Channel Supports; Focus is on Dec. 2011 Low
- In The Strange Case Of Gold's Regular Morning Mugging
- Eric Sprott: Price of Gold and Silver are Being Suppressed & No Gold in the Treasury – YouTube
- Cashin, Klarman, & Marks: "Un-abating Risks Of Collapse"
- Inflation In 38 Seconds By Mike Maloney
- Gold Price fell to the Bottom of it's Trading Channel Multiple Indicators are Pointing Up
- Step Aside Apple: Presenting The Hedge Fund World's Newest Most Widely Held Stock
- Exploration for Minerals “to boldly go where no man has gone before” – Here's Where
- Goldrunner: These Fundamental Charts Say ?Gold Is Getting Ready to Run!?
- Gold & Silver Prices Drop Into Severely Oversold Area
- Real Estate: The New Luxury Side of Queens – YouTube
- Regarding The Markets, DUMP IT ALL NOW! By Gregory Mannarino – YouTube
- Guest Post: Who's Living Large in Retirement?
- Sprott: Platinum & Palladium’s Breakout Year
- Millions strike in India over high prices – YouTube
- Donald Trump Threatens Blogger Over Dump Trump Petition – YouTube
- Gold Posts Longest Slump in 13 Months; Silver Tumbles
- Gold Price Drops Below 1200 Euro
- Fed Minutes Trigger Stock Selling – YouTube
| Posted: 21 Feb 2013 12:05 AM PST (February 2013) IT IS IN YOUR SELF-INTEREST TO OWN GOLD AND SILVER! This may not have been true from 1982 – 2000, but it definitely is true today and will be true as long as central banks are... {This is a content summary only. Click on the blog title to continue reading this post, share your comments, browse the website, and more!} |
| 20 Signs That The U.S. Economy Is Heading For Big Trouble In The Months Ahead Posted: 20 Feb 2013 11:30 PM PST by Michael Snyder, The Economic Collapse Blog:
Gas prices are going up rapidly, corporate insiders are dumping massive amounts of stock and there are high profile corporate bankruptcies in the news almost every single day now. In many ways, what we are going through right now feels very similar to 2008 before the crash happened. Back then the warning signs of economic trouble were very obvious, but our politicians and the mainstream media insisted that everything was just fine, and the stock market was very much detached from reality. |
| The Curious Case of Falling Gold and Silver Prices Posted: 20 Feb 2013 11:30 PM PST keith weiner |
| Gold Sitting at Ledge of 2-Year Support Cliff Posted: 20 Feb 2013 11:06 PM PST
By EconMatters
A Rough Start for 2013
Well Gold hasn`t had a particularly good start to the year, in fact, a good pairs trade would be going long the S&P 500 and short the Gold market for a nice 12% return in two months. But many Gold Investors are not yet ready to throw in the towel for 2013, and some even have targets in the 2000 an ounce area, and think this pullback, although significant, represents an excellent buying opportunity.
A Buying Opportunity?
Well, all those waiting for a pullback to get long on this Gold trade now have their opportunity. The real question is whether this is a good place to buy, or the proverbial "Catching a Falling Knife"? I put some charts together, and I will let you decide that one for yourself. Just watch for key technical levels that break, and protect yourselves with stops, and you will survive with little more than some flesh wounds if you are wrong.
Charts Galore
© EconMatters All Rights Reserved | Facebook | Twitter | Post Alert | Kindle |
| The Chart That Tells You All You Need To Know About Gold Posted: 20 Feb 2013 11:01 PM PST from KingWorldNews:
Below are charts and comments from 56-year market veteran and analyst Ron Rosen: "Eric, to my knowledge this is the only chart in existence that tells us when the next high and the next low for gold will occur. The turning points in the squares at the top of this chart are a golden gift from Mother Nature. I call them LTD's. They are turning points specifically for gold bullion. Since this bull market in gold began a new high has occurred at every number [4] high and every grouped numbers [1] [2]. |
| Currency wars: It’s starting to look a bit too much like 1931, February 19, 2013 – YouTube Posted: 20 Feb 2013 10:44 PM PST Check our website daily at... [[ This is a content summary only. Visit http://www.figanews.com for full Content ]]  |
| The Curious Case of Falling Gold and Silver Prices, February 20, 2013 – YouTube Posted: 20 Feb 2013 10:38 PM PST Check our website daily at... [[ This is a content summary only. Visit http://www.figanews.com for full Content ]]  |
| Inflation In Venezuela Has Made Used Cars More Expensive Than A New One!!!! – YouTube Posted: 20 Feb 2013 10:32 PM PST Check our website daily at... [[ This is a content summary only. Visit http://www.figanews.com for full Content ]]  |
| Marc Faber - Major Bottom Forming In Gold But Stocks Shaky Posted: 20 Feb 2013 10:01 PM PST  Today Marc Faber told King World News that a major bottom is forming in gold, but global stock markets are on shaky ground. Faber, who is author of the Gloom Boom and Doom Report, was speaking with KWN as the gold market was in the midst of being smashed on Wednesday. This is part I of a series of powerful written interviews that will be released today on KWN.This posting includes an audio/video/photo media file: Download Now |
| Posted: 20 Feb 2013 09:45 PM PST by Mike Adams, Natural News:
Superbugs are caused by the abusive over-use of antibiotics. In the presence of antibiotics, bacterial strains mutate and multiply to become completely resistant to those antibiotics, transforming into "super killers" that can be fatal and have no known treatments from the world of pharmaceutical medicine. (They can still be killed by colloidal silver, but the entire medical establishment pretends that colloidal silver doesn't work.) |
| Gold and Silver Update: “Have the Courage of Your Convictions and Hold Fast” Posted: 20 Feb 2013 09:33 PM PST by Mac Slavo, SHTFPlan:
Likewise, during this time period we've seen the price of gold and silver fluctuate significantly, primarily to the downside. This has left many holders of these metals, as well as potential investors, quite nervous. Is this the end of gold's decade-long run? Hardly. Despite media claims to the contrary, there is no gold bubble (yet) and this ancient metal is nowhere close to the levels of value it will achieve as the global economic and geo-political situation worsens. |
| Posted: 20 Feb 2013 09:20 PM PST from Bigdad06: The Fed and the bullion banks are conducting an operation to separate you from your gold and silver. Don't fall for it. All war is manipulation. — Sun Tzu Fight this financial war peacefully by taking physical gold and silver off the market and out of the hands of the bankers. https://www.silverbulletsilvershield…. Thanks for watching! |
| Impulse and silver and investing Posted: 20 Feb 2013 09:00 PM PST from SilverFuturist: |
| Gold and Silver Nearing MAJOR Long Term Support Posted: 20 Feb 2013 08:54 PM PST Gold and silver along with their related miners have been under a lot of selling pressure the last few months. Prices have fallen far enough to make most traders and investors start to panic and close out their long term positions which is ... Read More... |
| BitCoin at Parity with Silver! Posted: 20 Feb 2013 08:35 PM PST As gold & silver underwent another series of waterfall declines over the past 5 trading days, a historical event took place today. BitCoin, the world's premiere crypto-currency reached parity with silver priced in the world's reserved fiat currency. While BitCoin was trading around US$29.50, silver was smashed through that level a few hours ago to [...]  This posting includes an audio/video/photo media file: Download Now |
| Posted: 20 Feb 2013 08:11 PM PST by John Mauldin, Gold Seek: Lord Melchett: "Farewell, Blackadder [hands him a parchment]. The foremost cartographers of the land have prepared this for you; it's a map of the area that you'll be traversing. [Blackadder opens it up and sees it is blank] They'll be very grateful if you could just fill it in as you go along. Bye-bye." – From the English comedy series Blackadder (Part 2, Episode 3)
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| America's TBTF Bank Subsidy From Taxpayers: $83 Billion Per Year Posted: 20 Feb 2013 07:48 PM PST Day after day, whenever anyone challenges the TBTF banks' scale, they are slammed down with a mutually assured destruction message that limitations would impair profitability and weaken the country's position in global finance. So what if you were to discover, based on Bloomberg's calculations, that the largest banks aren't really profitable at all? What if the billions of dollars they allegedly earn for their shareholders were almost entirely a gift from U.S. taxpayers? The stunning truth is that the top-five banks account for $64 billion of an implicit subsidy based on the ludicrous (but entirely real) logic that: The banks that are potentially the most dangerous can borrow at lower rates, because creditors perceive them as too big to fail. Perhaps this realization will increase shareholder demands - or even political furore? The market discipline might not please executives, but it would certainly be an improvement over paying banks to put us in danger.
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| Gold Continues to Break Channel Supports; Focus is on Dec. 2011 Low Posted: 20 Feb 2013 07:01 PM PST courtesy of DailyFX.com February 20, 2013 02:26 PM Daily Bars Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0 Commodity Analysis: I wrote yesterday that “action at the downward sloping channel (if reached) will determine whether or not I stay bearish. A daily close below the channel would warn that the decline is accelerating towards the December 2011 low.” Gold closed well beneath the channel and thus focus is on 1522.50. Watch the former resistance trendline (now an internal trendline), which crosses this level over the next few days. Today is a large range down day which may be the beginning of at least near term capitulation. Commodity Trading Strategy: Risk on shorts is moved down from 1655 to 1610. 1570/85 is now estimated resistance. LEVELS: 1478 1523 1548 1572 1585 1595... |
| In The Strange Case Of Gold's Regular Morning Mugging Posted: 20 Feb 2013 06:48 PM PST Submitted by Adam Taggart of Peak Prosperity blog, Not everyone is a morning person. And few people like Mondays. But if you're a precious metals investor, mornings – especially Mondays – are brutal. The EvidenceThe precious metals are routinely sold off at or soon after the 8:20am EST morning open of the New York NYMEX exchange. Below are the daily gold price charts (source: Kitco) for each Monday (or Tuesday, if Monday was a holiday) since early this year. The current day's gold price is noted by the bright green line. The morning takedown is highlighted by the orange oval. Monday, January 7Gold is taken down $10 immediately after the 8am NYMEX open
Monday, January 14A late breaking rally begun on the London exchange is quickly contained at the NYMEX open, and then beaten down nearly $10. Notice that the previous Friday's gold price action (the bright blue line) also showed the same behavior at the same time, but with an even more severe response once the NYMEX opened.
Monday, January 21The 8am sell-off is smaller here (only a few $), but still noticeable.
Monday, January 28Again, a sell-off happens after the 8am open. Note again how the previous Friday's action was similar, but even more severe.
Monday, February 4Finally, an outlier. While there was an initial dip in the first hour of the NYMEX, the price took off soon after. So let's not count this one.
Monday, February 11An immediate $14 drop at the 8am open. The downward momentum started in London, but the vertical downdraft once the NYMEX opened is unmistakable.
Tuesday, February 19While less sharp, the steady selling clearly begins at 8am, beating gold down $12 to the technically significant $1,600 threshold.
Volume & TimingRunning the above data by Chris, he noted two additional observations. The first is that the price suppression is commencing increasingly in advance of the start of the NYMEX's open outcry process at 8:20am EST (i.e., how trading happens at the NYMEX). This suggests that it's being done on behalf of powerful players granted permission to circumvent the rules.
The second is that the volume levels in this pre-open trading is similar to that seen during active hours. That is very unusual in markets, and exceptionally high.
SilverFor those wondering, the daily price charts for silver indicate measurably similar action during these gold takedowns. Not in exact lockstep, but directionally similar both in degree and timing. [Update: after initially writing this, I noticed Zero Hedge posted a related analysis today of the takedowns in silver for the month of February so far. Like gold, the selling is concentrated in the first few hours of the day on the NYMEX]
The ConundrumIt's hard to swallow that these charts are evidence of a free and efficient market. Otherwise, a pattern this predictable would be quickly removed as traders and HFT algos piled in to a "sure" bet. Instead, this is behavior one would expect to see if powerful interests wanted to suppress the price of gold: hit the price hard and early at the start of the trading week to prevent the price from building upward momentum, as well as to make capital think twice before entering the gold market. Who is doing this selling at the market open? Is it TBTF ("too big to fail") banks making profit on large short positions? Is it the Fed, through proxies, keeping the gold price contained so as not to signal how badly QE is devaluing the dollar? Allegations swarm across the Internet that it's one of these – or both. But we don't know for certain. The exchanges don't make that information available to the public. But while these charts above are not enough evidence to prove that the gold price is being manipulated, they sure exhibit the symptoms one would expect to see if it is. So, the big question is: if the precious metals market is being manipulated, is it wise to be in it? History is littered with the bodies of investors whose investment thesis was right, but whose timing was wrong. Even though precious metals investors may be correct in their fundamental rationale for buying gold, can the precious metals markets remain held in check (or driven further down) for long enough that it's not worth the risk of owning the metals at all right now? The DecisionAs I laid out in Time To Choose, investors are facing a junction where they need to make a decision. Since rising markets and fiscal policy have divorced themselves from fundamentals, the gap between "what is" and "what should be" is widening. The weighting of your capital allocation needs to be based on which side you see winning out here. From our perspective here at Peak Prosperity, for all of the reasons explored in the Crash Course and discussed here daily, we firmly believe that fundamentals will ultimately matter most. And when they fully express themselves, there will be a tremendous re-pricing of assets – largely higher for tangible assets that require energy to obtain, and markedly lower for paper claims on wealth (stocks, bonds, and their derivatives). But as we've often said, the corrective process may very well take much longer than we ever expected to arrive. Frankly, we're amazed that the system has held together so well over the past 5 years with all of the thin-air money printing, trillion-dollar deficits, and $100 oil. If you are playing to the fundamentals, as we are, you need to be eyes-wide-open that you may be frustrated for far longer than you'd like to be. So, if you decide to bet on the continued success of the status quo, your choices are easy: Get in the paper markets and go long. The Fed will be adding $85 billion of liquidity rocket fuel each month for the rest of the year to push the prices of your paper investments even higher. But if you choose the fundamentals, here are a few important guidelines to keep in mind:
A Time to 'Hold Fast'It's only human to have your confidence shaken when the market acts so completely differently than you think it should for so prolonged a time. Chris and I feel the same pain, both constitutionally as well as in our wallets, as much of our net worth is invested in the PMs. But every time we go through the exercise of challenging our assumptions, we walk away feeling certain that our charted course is the correct one – and that at some point, fundamentals will prevail. As for what those fundamentals are, there's a seminal piece Chris wrote back in 2011 called The Screaming Fundamentals for Owning Gold and Silver that is even more true today. I highly recommend revisiting it. Chris has mentioned many times that this market feels an awful lot like 2007, when asset prices powered ever higher month after month, even though the underlying data was deteriorating fast. As then, he sees a high and rising potential for a violent correction that will take the market by surprise and vaporize a lot of wealth before players are able to react. It's times like these when you need to have the courage of your convictions and hold fast to whatever course of action you have decided upon after careful, considered analysis. During these trying periods, it's helpful to converse with a community of like-minded thinkers who can help remind you of the facts underlying your rationale – which is why I recommend joining PeakProsperity.com's Gold & Silver Group if you own PMs. It's a great source of both informational and emotional support. Chris and I will continue to closely track the developments in the precious metals markets and report back on any material changes to our outlook as they develop. In the meantime, we'll be holding fast. We hope you'll be doing the same, too.
(click on image if in need of dramatic inspiration) |
| Eric Sprott: Price of Gold and Silver are Being Suppressed & No Gold in the Treasury – YouTube Posted: 20 Feb 2013 05:56 PM PST Check our website daily at... [[ This is a content summary only. Visit http://www.figanews.com for full Content ]]  |
| Cashin, Klarman, & Marks: "Un-abating Risks Of Collapse" Posted: 20 Feb 2013 05:49 PM PST One can spend all day watching financial media channels stuffed full of self-promoting index-hugging asset-managers and be left with the belief that all is well and that the market does indeed represent our reality... Or, as UBS' Art Cashin notes today (confirming what we first published a month ago - here, here, and here), there is more (well less) to today's global economy and markets than meets the eye or rests in the headlines. His excellent diatribe today reiterates our previous comments of investing icons such as Baupost's Seth Klarman and Oaktree's Howard Marks that "(The) underpinnings of our economy and financial system are so precarious that the un-abating risks of collapse dwarf all other factors."
Via Art Cashin, Cautionary Comments From Investing Icons – Near legendary investor, Seth Klarman caused a good deal of buzz yesterday:
Another icon causing a lot of buzz was Howard Marks of Oaktree Capital. Warren Buffet once said something like – Whatever Howard Marks writes, I try to read. Marks gave an interview which you can access at http://business.outlookindia.com/article.aspx?283882. Here's a typical part:
Anyway, there is more to today's global economy and markets than meets the eye or rests in the headlines. Then there's geo-political risk – let's not go there. |
| Inflation In 38 Seconds By Mike Maloney Posted: 20 Feb 2013 05:48 PM PST What is inflation? Prices going up right? WRONG. A short preview clip of Mike Maloney's upcoming series "Gold & Silver: Hidden Secrets Of Money" explains the core idea of inflation. Mike Maloney shows the currency pool, and visualizes separately prices. The idea is that an expansion of the currency supply results in prices going up, like a sponge in a water has to rise to suck up the excess currency. Governments never stopped printing more currency and adding currency to circulation. Therefore prices keep on going up, not because the things that we are trying to buy are changing. The real estate does not change. What changes is the currency purchasing less and less. The currency is going down, prices are not going up. Learn more about gold, silver, inflation and deflation by signing up here. |
| Gold Price fell to the Bottom of it's Trading Channel Multiple Indicators are Pointing Up Posted: 20 Feb 2013 05:22 PM PST Gold Price Close Today : 1577.60 Change : -26.00 or -1.62% Silver Price Close Today : 28.615 Change : -0.798 or -2.71% Gold Silver Ratio Today : 55.132 Change : 0.612 or 1.12% Silver Gold Ratio Today : 0.01814 Change : -0.000204 or -1.11% Platinum Price Close Today : 1646.00 Change : -50.40 or -2.97% Palladium Price Close Today : 736.00 Change : -27.75 or -3.63% S&P 500 : 1,511.95 Change : -18.99 or -1.24% Dow In GOLD$ : $182.50 Change : $ 7.50 or 4.29% Dow in GOLD oz : 8.828 Change : 0.363 or 4.29% Dow in SILVER oz : 486.72 Change : 9.53 or 2.00% Dow Industrial : 13,927.54 Change : -108.13 or -0.77% US Dollar Index : 81.07 Change : 0.554 or 0.69% Whooo! The GOLD PRICE lost $26.00 (1.62%) to $1,577.60 and silver lost 79.8 cents (2.71%) to 2861.5 cents. Reckon that's the Day of Doom for silver and gold? Ahh, come not too hastily to judgment. Today's fall brought silver and gold to the bottom of their trading channels. That ought to be the place where they turn around, "ought" being the key word. But then, it's hard to imagine sentiment becoming more universally negative. The only fact that bothers me and argues against that turn around is that gold closed today the least bit below the downtrend line from the 2011 high. Silver did not. In fact, silver's bottom channel line sands considerably above that downtrend line from the 2011 high, still. Then there are other indicators. The RSI for gold has been extremely low for a week, lower than 2008, lower than any time in the past ten years. Gold's MACD has turned straight down, lowest since mid-2012. The SILVER PRICE RSI has been very negative for two days, and the MACD is plummeting. RSI isn't the lowest in 10 years, but about the only time it was lower was 2008. Those indicators scream that some pivotal low is near. However, "near" might last a while. The GOLD/SILVER RATIO has nearly reached the top of its trading channel, too, also whispering that some sort of low in metals lurks in the near future. Tis also way overbought. Remember, too, those Bollinger Bands I mentioned yesterday, showing gold and silver poised for a turnaround. Gold's low for today was $1,565.60, which marked a retracement of the previous rally slightly greater than 75%. Silver's 75% retracement lies at 2842c, and today's low was 2831c. If none of these factors catch silver and gold, look for falls to $1,525 and silver to 2610c. Wait a day or so before buying, to see some sign confirming a turnaround. Meanwhile keep your eye on the horizon, not on the headlines. Behold, the Fed MUST inflate, or die. It was created to inflate, and it must inflate or die, taking the economy down with it. Therefore, whenever the Fed talks about ending or containing inflation, it is lying. But it lies artfully and well, as it must to keep the victims of inflation -- that's y'all -- in the trap. Otherwise the realizers will wake up and escape the depreciating dollar. In the course of managing inflation expectations, the Fed from time to time appears to change course abruptly, as it seemed with the FOMC minutes released today. Why? To punish the realizers, to make them doubt themselves and scoot them back into the trap. The trap remains eternal, only the number of victims varies. Today on the Fed's FOMC publication stocks, bonds, and metals tanked and the dollar shot up 55 basis points. Is that merely Fed clumsiness roiling markets? Well, no, although that often explains their goofy moves. Rather, it is aimed at manipulating sentiment in their direction, at confusing markets so no movement -- like a flight from the dollar into gold and silver -- builds too much momentum. Look, do y'all want to understand the Fed and its magic? It's all explained in the movie, "The Wizard of Oz." Remember when Dorothy and her friends visit the Great and Terrible Oz in his audience room? They are trembling, but her little dog Toto pulls back the curtain that conceals the real wizard, working the levers of the smoke machine and mirrors. If you want to understand the Fed, just remember that scene. The shabby, feckless medicine man behind the curtain is Ben Bernanke, and he and his crew are constantly shouting to the trembling public, "Pay no attention to the man behind the curtain! I am the Great and Terrible Oz!" That great philosopher Yogurt in Mel Brooks' movie "Space Balls" summed it up: "It's moichendizing!" Here's a quotation that says it all, from Peter Schiff in a CNBC interview on 15 February: "The real gold investors are not selling. The traders are selling; those are leveraged speculators focused on the short term price. Individual investors, buyers of gold in the past years, and my clients are buying for gold for his store of value. They see this price correction as an opportunity to buy more. They do not care about the short term market noise." Now, what happened today? Stocks took a deep wound. Dow fell 108.13 (0.77%) to 13,927.54 and S&P500 fell 18.99 (1.24%) to 1,511.95. Next support for the Dow is about 13,850 - 13,800. Below that lay large gaps, with the first support about 13,600, next at 13,350. That fall doesn't nearly break stocks' uptrend yet. A close below 13,750 would do that, though. Here's an eyecatcher: Dow in Gold and the Dow in Silver both gapped UP [not down] strongly today. Looks like an exhaustion gap, that is, the limit of the move. If so, both will trade lower immediately or after a few days crabwise movement. These indicators show us not only what stocks are doing, but what silver and gold intend, too. The US dollar index' surge today hurt the euro much more than the yen. Dollar index rose 55.4 basis points (0.71%) to 81.068. Don't miss the close above 81. Just above at 80.91 stands the 200 Day Moving Average. How the dollar acts there will foretell whether it will rally or melt away again. The 80.66 to 80.90 level has stopped rises since Mid-November 2012, so today's jump promises higher dollar rates. Today the yen closed 106.84c/Y100, down a tiny 0.04%. The euro, however, fell 0.82% to $1.3277, so maybe the entire FOMC drama was staged to bring the euro down and satisfy Draghi after the price-cutting Japanese got away with their spoils at the G20 meeting. Euro is verging on falling through its 50 and 62 DMAs. Argentum et aurum comparenda sunt -- -- Gold and silver must be bought. - Franklin Sanders, The Moneychanger The-MoneyChanger.com 1-888-218-9226 10:00am-5:00pm CST, Monday-Friday © 2013, The Moneychanger. May not be republished in any form, including electronically, without our express permission. To avoid confusion, please remember that the comments above have a very short time horizon. Always invest with the primary trend. Gold's primary trend is up, targeting at least $3,130.00; silver's primary is up targeting 16:1 gold/silver ratio or $195.66; stocks' primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold; US$ or US$-denominated assets, primary trend down; real estate bubble has burst, primary trend down. WARNING AND DISCLAIMER. Be advised and warned: Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that short term trading outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures. NOR do I recommend investing in gold or silver Exchange Trade Funds (ETFs). Those are NOT physical metal and I fear one day one or another may go up in smoke. Unless you can breathe smoke, stay away. Call me paranoid, but the surviving rabbit is wary of traps. NOR do I recommend trading futures options or other leveraged paper gold and silver products. These are not for the inexperienced. NOR do I recommend buying gold and silver on margin or with debt. What DO I recommend? Physical gold and silver coins and bars in your own hands. One final warning: NEVER insert a 747 Jumbo Jet up your nose. No, I don't. |
| Step Aside Apple: Presenting The Hedge Fund World's Newest Most Widely Held Stock Posted: 20 Feb 2013 05:11 PM PST Quarter after quarter we would recap the hedge fund world's infatuation with one stock and one stock alone: Apple. This inverse-mormon love affair hit its peak in the quarter ended September 30, when a record number of hedge funds were invested in AAPL stock. This was also the quarter when AAPL hit its all time high price and has since proceeded to slump by nearly 40% in four short months. Which was to be expected: hedge fund hotels always become flaming death traps when the sucker rally finally ends and what so many mistook and goalseeked for fundamentals, ended up being merely euphoria and momentum chasing as one after another marginal buyer put their money into a stock that seemingly could do no wrong or so we were told day after day. As of December 31, AAPL is no longer the darling of hedge fund groupthink. In its place we have a new hedge fund hotel. Presenting: AIG, which with 80 hedge funds reporting it as a Top 10 holding (compared to GOOG with 73, and AAPL with 67), is now the stock that has suckered in the most hedge fund capital, and where any future growth will depend solely on pulling incremental dumb money in.
As a reminder: just as every most widely held name rises ever higher as the Beta chasers pretend they generate Alpha, while merely piling into one or several names, so once hotel, in this case cAIGfornia, starts burning down, the scramble for the exits is fast and furious. The chart below shows AAPL's recent gradual rise and epic fall. AIG is now in the rising phase. The fall always follows.
Finally, it would be especially poetic if the one company that was there at the end of the beginning, and nearly brought down the financial system 5 years ago is responsible for the beginning of the end, and whose collapse the second time around completes what its first, bailed-out attempt, couldn't. |
| Posted: 20 Feb 2013 04:53 PM PST "Follow the munKNEE" via twitter & Facebook or Register to receive our daily Intelligence Report (Recipients restricted to only 1000 active subscribers) With growing global demand and declining mine grades commodity prices So says an introduction to the following infographic* by www.visualcapitalist.com brought to you courtesy of www.FinancialArticleSummariesToday.com (A site for sore eyes and inquisitive minds) and www.munKNEE.com (Your Key to Making Money!). This paragraph must be included in any article re-posting to avoid copyright infringement.
This infographic was the result of our first Visual Capitalist hackathon – an all day marathon research and design session. Our blog has all the details including pictures and videos from the event. * http://www.visualcapitalist.com/the-next-frontier-of-mining (This work is licensed under a Creative Commons Attribution-NoDerivs 3.0 Unported License; Copyright 2012 © Visual Capitalist. Stay on top of investment opportunities in the resource sector, and get rich visual information delivered via social media by connecting with us on Twitter, Facebook, or (NEW!) LinkedIn. )
Other Commodity-related Infographics: 1. The Silver Series: Silver as an Investment (Part 3)
Silver has had double digit gains in 7 of the last 10 years. In this infographic, we look at the investment properties of silver as well as its chief differences with gold. Highlights include a study on silver correlation, volatility, performance against the US Dollar and money supply, and portfolio diversification. 2. The Silver Series (Part 2): Supply & Demand
3. All the Facts About Physical Platinum & Palladium and How to Easily Invest in Them
With demand rising and supply under pressure, the outlook for investment in physical platinum and palladium is compelling. What are they used for? Where are they produced? What is the global supply/demand for each? Learn the full story from the infographic below. 4. Death, Deception & Betrayal: The Crazy Things Done in the Name of Gold & Silver
5. Why Is There Such An Interest In Gold?
6. Part 1: An Infographic on the History of Gold and What Makes It So Great
7. Part 2: An Infographic on Gold Mining & Supply
8. Part 3: China's Role in the Future of Gold
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| Goldrunner: These Fundamental Charts Say ?Gold Is Getting Ready to Run!? Posted: 20 Feb 2013 04:25 PM PST [B]"Follow the [COLOR=#0000ff][U]munKNEE"[/U][/COLOR] [/B]via twitter & [B]Facebook [/B]or Register to receive your daily Intelligence Report (Recipients restricted to only 1000 active subscribers) The U.S. Dollar is being very aggressively devalued in a parabolic…[manner] as we enter the final stage in the paper currency cycle. The government needs Gold to go vastly higher*so the budget can be balanced after all of the paper promise debts are added to the balance sheet.*Interestingly, Michael Belkin, arguably one of the best analysts in the world, expects earnings for companies to plunge this year causing the DJIA to crater about 30%.* This fits with the kind of correction in the now high flying DJIA that we have discussed per the late 70's charts where Gold and the Dow would meet between 10,000 and 12.000. Words: 1022 So writes Goldrunner* ([url]www.GoldrunnerFractalAnalysis.com[/url]) in edited excerpts from his most recent newsletter to subscribers (excluding his illustrati... |
| Gold & Silver Prices Drop Into Severely Oversold Area Posted: 20 Feb 2013 03:58 PM PST How do you feel when the price of gold or silver drops like a rock as today (or even worse, over the past 8 trading sessions)? Well, as a reader of a precious metals site, we probably have the answer. On downdays an increasing number of "long investors" reach out looking for evidence that their "investment" is a good one. The wise thing to do is to stick to the facts. This article attempts to be as factual as possible. First, the gold and silver price drop is significant. We would say it is out of proportion, although the latter does not matter (it is an opinion, like so many other opinions out there). The fact of the matter is, the gold and silver price charts reveal a waterfall decline over the past two weeks, that's a fact. Although they are oversold, they can go even lower.
Second, in terms of sentiment, the ravage is even more significant. The next chart shows the public opinion of gold since 2008, as measured by sentimentrader.com. "The data show that sentiment on gold dropped markedly with its latest push lower. Bullish opinion is under 42% for only the 2nd week in more than a decade (February 11th, 2005 was the other week)." The second chart shows the daily sentiment since 2001 (courtesy dailymarketsummary.com). No additional comments needed on these charts, except that we are at a significant long term bottom. Could it go lower? Always. But the downside in "normal circumstances" seems limited for now.
Coming back to the above comment that the gold and silver price drops are out of proportion, there is no real macro economic driver visible that could have triggered this sell off. As Michael Pento from PentoPort points out in today's update to his subscribers: "The reading on last quarter's GDP growth was negative, while the January unemployment rate actually increased." There has been a good news show at the economic top at Davos though. The equity markets are at historic tops as well. Dan Norcini points out that speculation could be taking place in anticipation of the Fed minutes which are released later today. In the physical market, no specific data were released that contributed to a price drop. No reports on the US Mint figures or ETF holdings. The only option left? A sell off in the paper market, in particular the COMEX futures market. The traders (hedge funds, large bullion banks like JP Morgan or Citi Group) brought the price down to levels below key moving averages, which resulted in technical selling. Why is it important to have that information? Because there is a fundamental difference between trading gold and owning gold. Traders do their thing in the paper market. Obviously they have power over the short term price setting. The focus for owners of (physical) gold should be on the longer term. Down days are hard to stomach, but the bigger picture and the fundamental reasons to own gold, did not change. Jim Sinclair wrote to his subscribers today:
Those are words of wisdom, at least in our opinion. Jim Sinclair, being one of the most experienced people in the gold business both as an investor and a trader, laid out that Gold is on its way "to balance the balance sheets of the sovereign balance sheet disasters [which is the result of QE to infinity]. Just as there is no tool other than QE to feign financial solvency, there is no tool to balance the balance sheet of the offending entities other than Gold." The world cannot continue forever on this QE sponsored illusion of solvency. Meantime, with or without fundamentals, everyone who believes in the benefits of gold needs to control emotions. As an owner of physical gold, the price drop should not be of a concern as the world is moving towards a currency war of global scale. By contrast, for traders the critical support zone down the $1,500 or €1,100 area will be of utmost importance. |
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| Guest Post: Who's Living Large in Retirement? Posted: 20 Feb 2013 03:46 PM PST Submitted by Dennis Miller, via Casey Research, Who fares better in retirement, pensioners or folks who saved up their own respective nest eggs? If you look at the numbers, you might be surprised to learn who's really "living large" after retirement. Regardless of how you made your money, what determines if you're rich when you retire? Frankly, it isn't how much money you made, but how much you accumulated that counts. So who are the real rich people? Retirees generally fall into one of four groups: folks who retired from the private sector with a 401(k), IRA or a lump sum payout in lieu of a private pension; those with a government pension; self-employed folks who saved their own respective nest eggs; and finally, those scraping by on Social Security alone. The U.S. Census Bureau reports that in 2010 the top 10% had a median net worth of $1,864,000. If you're worth that much or more, 95% of the population thinks you're rich. But are you? When my wife and I were first married we had a negative net worth. No silver spoons for us! By our late 50s we were successfully self-employed and in the top income tax bracket. And yet, once we paid federal and state income taxes, plus Social Security and Medicare, about 50% of our gross income went to taxes. We raised a family with what was left. Once the children left the nest, we were in the race to the retirement finish line. For us, like most folks, that's when we really began to accumulate wealth for retirement. Here was our challenge. For a self-employed person to end up in the top 5%, with a net worth of $1,864,000, he would have to earn a spare $3,728,000 before taxes. Now that sure sounds rich, but is it? Assuming this person lives in a paid for home worth $564,000, that leaves $1,300,000 in his portfolio for retirement. And let's assume he and his spouse receive $35,000 a year in combined Social Security payments. Today the best rate for a FDIC-insured CD is 1.1%. If the entire portfolio was in CDs, it would pay $14,300 in interest. Add that to their $35,000 in Social Security and they earn just under $50,000. Remember, 95% of the population thinks they're rich. Their retirement income is likely no more than 40% of what they earned when working. And the winner is... Firefighters in Contra Costa County, CA have a state law protected pension; many receive over $100,000 annually. (Their department is also closing four stations to make budget.) I have several friends who retired from the government who've received a large increase the last couple of years, bumping their pensions to well over 80% of their former salaries. Many regularly risked their lives, and I don't begrudge them a dime. But it would take a self-employed person $2 million in earnings to net $1 million, which could fund an $11,000 pension. It would take just over $9 million for a person in the private sector to fund the pension equal to a Contra Costa County firefighter. So who is living large? Those who are fortunate enough to have sound government pensions are living very well compared with those in the private sector. So what do I tell baby boomers in the private sector? First get out of debt. The quicker you can start accumulating wealth, the better. If you have any type of tax-deferred retirement plan like a 401(k) or an IRA, strive to maximize your contributions. Once you have maximized tax-deferred accumulation, move on to the next phase. Start accumulating wealth long before your nest is empty. Even saving just $20/week beginning at age 50, with a modest 4% growth rate, will turn into $31,573 by the time you are 70. Through the magic of compounding, $20,800 saved over 20 years will earn $10,773 on top. Start the process and watch it grow; it will make you want to save more. Don't rush out and join the fire department. Whether you are in the government or private sector, the combination of tax-deferred retirement income, savings and prudent investing, and most importantly—having an easy to use plan that you'll actually follow—is what will help you enjoy your "golden years." In our Money Forever letter we recently developed a monthly income plan using some of the safest dividend stocks on the market. The plan is easy to follow, doesn't require an extensive background in investing or even that you start with a lot of money; you just need a willingness to learn and a desire for reliable monthly income. Click here to find out more. |
| Sprott: Platinum & Palladium’s Breakout Year Posted: 20 Feb 2013 03:32 PM PST By: Rick Rule, David Franklin, David Baker and Shree Kargutkar Hard assets are gaining momentum once again as market participants digest the potential impact of central bank printing initiatives. After last year's record level of central bank intervention, 2013 is gearing up to be an even more prolific year on the money-printing front.1 Japanese Prime Minister Shinzo Abe recently unveiled Japan's tenth Quantitative Easing program to follow the country's current $224 billion stimulus announced on January 11th. The US Federal Reserve is steadily printing US$85 billion a month under its QE3 & QE4 programs, and reports indicate that the European Central Bank is close to launching its much-awaited Open Market Transaction (OMT) program to purchase European sovereign debt. It's a money-printing party and everyone's invited. Even the new Bank of England head, Mark Carney, has hinted of plans to launch more monetary stimulus.2 Professional investors have noticed and are expressing concern over the consequences of concerted currency devaluation and the continuation of zero-percent interest rates. PIMCO's Bill Gross, aka "The Bond King", is now regularly touting gold and hard assets as a prudent investment in 2013.3 While his advice appears to have fallen on deaf ears, interest in inflation protection is once again on the rise. We continue to believe that precious metals remain the place to be invested in this environment and are always interested in different avenues with which to participate in the sector's inevitable rise. Despite being long-time precious metals enthusiasts and active investors in gold and silver, we did not focus on "the other precious metals", platinum or palladium, until very recently. Our interest in the space was ignited by a client's request to assess investment opportunities in the debt and equity of Platinum Group Metal (PGM) mining companies – an exercise that came up almost completely dry. As long-time resource equity investors, we are familiar with the mining industry's supply/demand cyclicality and the impact it has on commodity prices. Looking more closely at the PGM miners, the platinum and palladium industry reminds us of the uranium industry back in 2003. Like uranium, platinum and palladium are crucial to a number of important industrial applications where demand for them is relatively inelastic to price. And like uranium in 2003, palladium is also marked by an opaque, but rapidly diminishing foreign supply stockpile, which had previously balanced out the market and effectively capped the price. Investors will remember that uranium proceeded to perform extremely well from 2003 onwards based on the fundamental supply/demand imbalances that ensued. Our assessment of the PGM industry has led us to believe that platinum and palladium have the potential to do the same. The one difference being, however, that whereas in uranium, where we chose to build our exposure primarily through uranium mining equities, platinum and palladium exposure appears to be best gained through the metals themselves… hence the launch of the Sprott Physical Platinum & Palladium Trust this past December (NYSE Arca: SPPP, TSX: PPT.U). … PALLADIUMThe palladium story is similar to that for platinum from a demand perspective, but has a different supply picture that makes it more compelling in our view. Palladium generally occurs with platinum and other PGM metals and is usually associated with nickel and copper. Like platinum, palladium's main industrial usage is in catalytic converters, most notably in gasoline engines. It is also used in jewellery, watchmaking, dentistry, surgical instruments and electrical contacts. Almost 40% of the world's annual palladium mine supply comes from Russia, primarily through operations at Norilsk. Russia, naturally, does not provide much information on its palladium stockpiles, but various reporting agencies are able to piece together reliable estimates for annual supply and demand. The palladium market is tight, and appears to be getting tighter. It has gone from a 1.26 million ounce surplus in 2011 to a 915,000 ounce deficit in 2012. This represents a swing of over 2 million ounces this year due to contracting supply, increasing gross demand and diminished recycling, resulting in a supply decrease of 790,000 ounces (see Figure E). If you factor in the ~200,000 ounces we purchased in our Trust, the deficit for 2012 increases to 1.15 million oz.11 As bullish as we are on the supply dynamics of platinum, it is palladium that appears to be poised to move higher in the short-term. The palladium market is now in supply deficit globally and will experience a residual deficit in 2013 even after existing stockpile sales are taken into account. Russia has historically maintained a sizeable palladium stockpile which has represented a key source of supply over the past two decades. 2012 reports suggested that that stockpile was nearing depletion, with sales expected to fall below 100,000 ounces in 2013, versus the 250,000 ounces that are believed to have been sold last year.12Those numbers were also supported by Swiss PGM data, where the most recent 2012 numbers show Russian palladium shipments running 72% lower than the same period in 2011.13 All of this was recently confirmed by Norilsk itself, when an executive conceded in an interview on November 29th (and later confirmed by industry watchers like GFMS this past January) that the supply overhang from Russian stockpiles is officially close to being depleted. If this proves to be true, it will represent a significant shift in supply, since those stockpiles were a main contributor in balancing the palladium market for the last ten years. FIGURE E  Source: Johnson Matthey Platinum 2012 Interim Review One other bullish palladium supply factor relates to the Norilsk mines themselves, which produce more palladium than the next four largest palladium producers combined. Norilsk's 2012 palladium production is expected to account for 42% of global supply. Despite higher prices, Norilsk is not expected to expand its annual palladium production for at least 10 years, because that's how long it will take to develop the new mines it requires to increase production. In addition, the existing operations are reported to be having difficulty maintaining their average 2.7 million ounces of annual production due to diminishing ore grades at depth within the ore bodies Norilsk is mining. With Russian state supplies dwindling, and Norilsk's palladium production flat at best, the supply picture in 2013 has a very high probability of tightening further. This is especially likely if South Africa's 1.5 million ounces of palladium production is also impacted by further strikes and mine shutdowns. Palladium demand has been robust, having risen by 15% year-over-year in 2012 to 9.73 million ounces.14The growth has been primarily driven by increased use in autocatalysts, the demand for which alone is forecasted to increase by 7% in 2013. Given the probability of tightening supply in the years ahead, we could potentially see a hoarding reaction by industry users as supply constraints become more pronounced. In year 2000, a similar reaction by industry users led palladium to trade over $1,000/ ounce. It is also interesting to note that palladium has the second highest amount of short positions in the futures market in relation to total annual production – second only to that for silver. The reversal of those short contracts may represent a significant source of investment demand as prices continue to rise.15 Read More: SprottPhysicalBullion |
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| Gold Posts Longest Slump in 13 Months; Silver Tumbles Posted: 20 Feb 2013 03:23 PM PST 20-Feb (Bloomberg) — Gold fell, capping the longest slump since December 2011, as economic concerns eased in the U.S., eroding demand for the metal as an investment hedge. Silver tumbled to a six-month low. …"The economic data is telling us that the economy is definitely showing signs of improvement," Vedant Mimani, a portfolio manager at Atyant Capital Management Ltd. in Miami, said in a telephone interview. "A lot of sellers came in after gold broke below the psychological $1,600 mark, and concern about the end of stimulus is adding further pressure." [source] |
| Gold Price Drops Below 1200 Euro Posted: 20 Feb 2013 03:02 PM PST Since July of 2011, forays in gold priced in Euro terms, have been met with solid buying on approaches towards 1200. Only ONCE over that time period did gold end the week below this psychological support level. There was no downside follow through however and the price rebounded the following week moving back towards 1320 before faltering. The week is still young but the gold price has now fallen below this level with today's sharp move lower.
Some of what we are seeing today in gold is tied to selling ahead of the release of the FOMC minutes for January. Traders/Investors continue to fear a more hawkish tone to the minutes with a rising number of voices perhaps calling for an ending to the QE program sooner than expected. That remains to be seen given the extremely tenuous state of this so-called "recovery" but this is the current thinking for whatever that is worth. It is no different over in Europe where many believe the worst is now behind the region and has been the case over here in the US, money flows are moving into equities and exiting gold for the time being. Any reversal to the downside in the equity markets there, and here as well, would change that mentality quite rapidly were that to occur.
As far as the US Dollar priced gold chart goes, support at $1600 was crushed with the market attracting fresh short selling on the break below last week's low just under $1600. There is no support just below today's session low on the chart until price nears $1565. Below that, should it fail, is the $1550 level. That one is a biggie. Should it not stem the bleeding, gold is going to test $1535.
Some data providers are showing that the 50 day moving average has already managed to cross below the 200 day moving average, the infamously known "Death Cross". My data does not yet show it although it will probably do so within the next day or two. Either way, technical analysts will view this as further confirmation of a bearish trend in gold prices. The ADX that I have been including recently picked this up much sooner than the death cross occurence itself. It continues to rise with bearish momentum increasing as it has picked up the fund flows OUT OF GOLD and FRESH SHORTING. The market has fallen rather sharply 7 out of the last 8 trading sessions, so it is perhaps due for a bit of a bounce but expect rallies to be sold unless gold can get back above $1640 for a bare minimum. Even at that, bulls will not be out of the woods until price can move past $1660 – $1665. The bears are currently in the driver's seat. Physical market buyers of size as of yet do not seem to be interested in moving in right now. Let's see if we can spot their footprints when they do. I should also note here that the Continuous Commodity Index or CCI, has been getting worked over rather harshly the past week. That is continuing this week. I am getting reports of several large funds and banks exiting commodities due to the sector's poor performance over the last year.
(Courtesy of Dan Norcini) |
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Is the U.S. economy about to experience a major downturn? Unfortunately, there are a whole bunch of signs that economic activity in the United States is really slowing down right now. Freight volumes and freight expenditures are way down, consumer confidence has declined sharply, major retail chains all over America are closing hundreds of stores, and the "sequester" threatens to give the American people their first significant opportunity to experience what "austerity" tastes like. 
KWN has received tremendous interest in 56-year market veteran and analyst Ron Rosen's charts and comments which have recently been published exclusively on King World News. With the weakness in gold and silver today, we followed up with Rosen to get his take on what to expect going forward, and Rosen did not disappoint. He gave another tremendous interview.
Antibiotic-resistant superbugs kill 48,000 Americans each year — roughly the same number of American soldiers who died in the entire Vietnam War. This data was published in the 
The last couple of weeks have seen stock markets bounce around inexplicably and reach new highs, all in the midst of an economy that is, once again, 
Was it only a few years ago I visited the Emerald Isle of Ireland? So recently had this fair land come to such a sad state. The collapse of its largest banks foreshadowed the demise of many other European banks that had borrowed money from British, German, and other European banks to lend against homes and property. The Irish government had to guarantee deposits and bond holders in order to prevent a bank run. I think I am correct when I state that the Central Bank of Ireland was the first central bank to avail itself of large-scale use of the Emergency Liquidity Assistance (ELA) provision of the European Central Bank. This was before we became so familiar with the process in Greece.
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