By: Rudi Fronk and Jim Anthony Rudi Fronk and Jim Anthony, the cofounders of Seabridge Gold, discuss the significance of gold breaching its downward sloping trend line.Today, gold broke a nearly six year-long downward sloping trend line that goes back to its all-time high of $1921 in August of 2011. Gold has not managed to cross above this trend line, currently at around $1280, since then, alth...Read More
By Craig HemkeIn what should come as no surprise to anyone around here, The Banks are once again creating as much paper metal as necessary to stall an advance in price. Already twice this year we've seen this happen in Comex Digital Silver and now The Banks are working their alchemic magic in Comex Digital Gold, too.Frankly, I'm not even sure why I'm taking the time to write about this. You kno...Read More
By: Arkadiusz Sieron In the previous edition of the Market Overview we wrote that "geopolitical risks clearly won with a hawkish Fed in a tug of war in the gold market" at the turn of March and April, as the yellow metal gained about 7 percent from mid-March to mid-April. However, the price of gold declined about 4.8 percent until May 9 when it started its rebound. As the chart below shows, at...Read More
By Frank HolmesWith the U.S. dollar taking another hit last Friday on a weaker-than-expected jobs report, gold closed up 1.12 percent for the day today. A Bloomberg gauge of 72 junior miners, however, has lost 15 percent since the end of January, and the rebalance of the VanEck Vectors Junior Gold Miner ETF (GDXJ), which I previously wrote about, is also having a depressing effect on many gold n...Read More
Tuesday's feisty rally exceeded the 1296.40 rally target we'd been using by a relatively modest $2.40, but because the pattern associated with the target is so clear, even as small an overshoot as occurred will have bullish implications going forward. Accordingly, I'll suggest using the pattern shown (see inset), with a 1314.50 target that should be familiar to you. It is a logical minimum upsid...Read More
- Gold prices break 6 year down trend on safe haven demand (see charts)- Chinese gold demand set to surge 50% to 1,000 metric tonnes- Chinese demand for gold bars on track to surge more than 60 percent in 2017- Geopolitical risk internationally leading to safe haven demand- UK election, terrorism and rising tensions in Middle East supporting gold after attacks in London and attacks in Iran toda...Read More
Gold Today -New York closed at $1,293.80 yesterday after closing at $1,279.60 Monday. London opened at $1,292.65 today. Overall the dollar was slightly weaker against global currencies, early today. Before London's opening: - The $: EUR was slightly weaker at $1.1254 after yesterday's $1.1246: EUR1.- The Dollar index was slightly weaker at 96.68 afte...Read More
It seems all terror attacks in democratic nations happen before an election. I rarely find any terrorist attack after an election. I am confident that once UK and German elections are over, Europe will not see terror attacks for quite a long time. In Europe or the UK all terrorists were known to the law enforcement agencies and still they slept. It is very easy to radicalize anyone these days. G...Read More
Full Article: SWOT Analysis: Trump Probes Boost Gold's Safe-Haven DemandBy: Frank HolmesStrengthsThe best performing precious metal for the week was palladium, up 6.17 percent. Consumer demand is rising for gasoline- versus diesel-engine powered vehicles, yet automobile sales have started to relax in recent months. According to Bloomberg, gold bulls outnumber gold bears this week as Trump probe...Read More
Full Article: If You Want To Get Rich, Own Gold - Rich Dad, Poor Dad's KiyosakiBy: Daniela Cambone(Kitco News) - Gold is a wealth attractor, this according to Robert Kiyosaki, the best-selling author of Rich Dad, Poor Dad, who uses the metal to boost his net worth."If I want $10,000 a month, I hold $10,000 in gold; gold is an attractor and people need to understand that if you buy more gold, your...Read More
"Instead of buying low and selling high, you're buying high and crossing your fingers." Bill Gross is the Lead Portfolio Manager of the Janus Global Unconstrained Bond strategy and is a member of the Janus Global Macro Fixed Income leadership team. Mr. Gross also serves as an integral member of the Janus Capital Group Global Allocation Committee focused on the expansion of their global asset alloc...Read More
Former presidential candidate Ron Paul on the Trump administration's push to replace ObamaCare.Dr. Ron Paul is a physician and former twelve-term congressman from Texas who ran for president in 2008. He is the author of eight books, including the New York Times bestsellers The Revolution: A Manifesto and End The Fed. An unwavering defender of the US Constitution, Paul has been an advocate of sound...Read More
Mike "Mish" Shedlock a registered investment advisor, representative for Sitka Pacific Capital Management and he operates one of the most popular websites about the economy and investing online: MISH'S Global Economic Trend Analysis.Read More
Polishing cloth"The desire for gold is the most universal and deeply rooted commercial instinct of the human race." So said Gerald M. Loeb, founding partner of Wall Street brokerage E.F. Hutton & Co. and "the most quoted man on Wall Street" according to Forbes, in his 1935 book The Battle for Investment Survival.Investors seem to agree, of late; spot gold today rose to its highest levels since Nov...Read More
* Dollar/yen's slide deepens as equities turn bearish* Dollar index struggles near 7-mth lows as US yields fall further* Euro's advance vs dollar limited before Thursday's ECB decision By Shinichi SaoshiroTOKYO, June 7 (Reuters) - The dollar wallowed near a six-week low against the safe-haven yen on Wednesday, with traders cautious ahead of Britain's general election, a European Central Bank poli...Read More
British Prime Minister Theresa May is on track to win a 64-seat majority in Thursday's national election, a model by businessman and former Conservative Party donor Michael Ashcroft showed on Tuesday.Ashcroft, who has funded a significant amount of opinion polling in recent years, said his model now pointed to a greater majority for May's Conservatives than it had on June 2, when it indicated a ma...Read More
By David Lawder | WASHINGTONThe U.S. and Mexican governments reached a new agreement to significantly shift their sugar trade mix, but U.S. sugar producers have failed to endorse the deal, leaving question marks over whether it could still sour broader trade relations.U.S. Commerce Secretary Wilbur Ross said the "agreement in principle" with Mexican Economy Minister Ildefonso Guajardo calls for Me...Read More
President Donald Trump had a brief message for former FBI Director James Comey on Tuesday ahead of Comey's Thursday testimony to the U.S. Congress on his conversations with Trump about Russia."I wish him luck," Trump told reporters as he met with Republican congressional leaders.(Reporting By Steve Holland; Editing by Phil Berlowitz) Disclaimer: The views expressed in this article are those of th...Read More
Please Note: There will not be any Gold Seeker reports for the next week or two. CloseGain/LossGold $1293.80+$14.20Silver$17.69+$0.12XAU87.39+5.13%HUI204.55+6.07%GDM661.77+4.62%JSE Gold1410.81+91.44USD96.54-0.27Euro112.79+0.21Yen91.37+0.87Oil$48.19+$0.7910-Year2.143%-0.037T-Bond156.375+0.71875Dow21136.23-0.23%Nasdaq6275.06-0.33%S&P2429.33-0.28% The Metals: Gold climbed higher throughout m...Read More
Gold Today -New York closed at $1,279.60 yesterday after closing at $1,278.20 Friday. London opened at $1,289.50 today. Overall the dollar was weaker against global currencies, early today. Before London's opening: - The $: EUR was slightly stronger at $1.1246 after yesterday's $1.1264: EUR1.- The Dollar index was slightly weaker at 96.73 after yeste...Read More