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- Gold Market Headlines - |
 Friday Edition: May 16, 2008 |
Road to Roota V
By: Bix Weir
I’m going to say it flat out…SELL ALL YOUR GOLD INVESTMENTS NOW AND BUY PHYSICAL SILVER! This is not a joke and don’t get me wrong, I am the biggest “gold bug” you’ve ever meet, but it is time we ended their evil game. The Cabal has shown their Achilles Heal over the past few months and it is not gold but the depletion of Physical Silver available for delivery that will ultimately lead to their demise.
The Economic Sky Has Fallen
By: Richard Daughty, The MOGAMBO GURU
I naturally jump to the conclusion that this is the worst inflation in U.S. history, and that it is time to seal myself into the Impregnable Mogambo Bunker (IMB) and shoot at anything that moves because the economic sky has fallen…
Skeptics Gather At NYC Dinner
By: Rick Ackerman, Rick's Picks
I'm in New York for the annual spring meeting of the CMRE, the Committee for Monetary Reform and Education. This group attracts men and women from the investment community who share your editor's disdain for fiat money and other falsehoods promoted by Big Government.
Asian Metals Market Update for 16th May, 2008
By: Chintan Karnani, Insignia Consultants
Eurozone and Japan as first quarter growth beat market expectations. The US dollar has so far ignored the weak US manufacturing sector. Markets will take note of the difference in manufacturing growth sooner than later and there could be short term weakness in the US dollar
Thursday Edition: May 15, 2008 |
Gold Seeker Closing Report: Gold and Silver Gain While Miners Surge Higher
By: Chris Mullen, Gold-Seeker.com
Gold fell to $862.10 in Asia and traded near unchanged in London before it exploded higher in early New York trade to as high as $887.65 by late morning, but it then fell back off slightly in the last couple of hours of trade and ended about 1% off that high with a gain of 1.47%. Silver fell to $16.48 and rose to $16.965 before it closed with a gain of 0.18%.
The Fed's Emperor's Club
By: Bill Bonner & The Daily Reckoning Crew
-Accidents don't cause bubbles - Fed policy does…the world, again, turns its weary eyes to Paul Volcker…
-The real cost of the war between inflation and deflation hasn't even begun to register…Bernanke has chosen the pump, not the lance…
-Why the oil price will correct itself…everything happens at the margins…and more!
Correction in Gold Near End
By: Jim Willie CB
The springtime corrections are really about done. They have gone on for a couple of months. The extent of the pullbacks have been tested and retested. The long-term trends are just about ready to asset themselves again. Grand deceptions have resumed to attempt to fool the public and the investment community that the worst is over for banks, housing, and mortgage bonds. That is not even remotely true.
Government Inflation data at Odds with Reality
By: Gary Dorsch, Editor, Global Money Trends
In an age where governments of every political stripe distort economic data to promote their own self-interests, it’s hardly surprising that they present inflation statistics that are wildly at odds with the reality faced by consumers and businesses, and regarded with utter disbelief.
On Bookies and Economic Gurus
By: Gary North, Mises on Money
I think the recession will arrive this year. I do not expect a severe recession. I also do not think the recovery will be strong or rapid. The slowdown will last for over a year. So will a depressed housing market. But I do take seriously Intrade's assessment. We are less likely to have a recession than we were as recently as mid-April.
Gold Boosted Within the Range on Weak Data
By: Peter A. Grant, USAGOLD
Gold surged higher within the range following a series of mostly weak economic data, which caused stocks and the dollar to slump. The yellow metal seems to be taking its cues from the dollar lately. Despite recent activity, both remain well contained within their respective ranges, although the greenback is looking increasingly vulnerable.
Gold & Euros Bounce on "Persistent" Inflation Fears; Ex-Fed Volcker Warns of Return to the 1970s "or Worse"
By: Adrian Ash, BullionVault
SPOT GOLD PRICES turned higher alongside the Euro early Thursday, gaining 0.5% after strong economic data dashed short-term hopes of Eurozone rate cuts.
Gold Investments Market Update
By: Gold Investments
While the dollar is down today, the dollar's short term bounce may continue and this could put further pressure on gold and result in further consolidation at these levels (the $850 to $890 range). But oil is up more than 0.5% again this morning to over $125 a barrel again and this should result in gold being well supported at these levels.
International Forecaster May 2008 (#4) - Gold, Silver, Economy + More
By: Bob Chapman, The International Forecaster
The long line of exposure of debt problems by major and minor corporate entities has a long way to go. The signals by the Fed, Treasury and some corporate leaders that the credit crisis is over is very misleading, as we see one corporation after another declare some of their losses. From our vantage point we are nowhere out of the woods.
A Shrinking Trade Deficit is Still a Deficit
By: Richard Daughty, The MOGAMBO GURU
So the total swing from a monthly surplus of $63 to a deficit of $58 billion has been a staggering $121 billion! You can probably tell by the way my eyes spin comically in my head that this is a Big Freaking Change, and it scares the hell out of me.
Asian Metals Market Update for 15th May, 2008
By: Chintan Karnani, Insignia Consultants
Metals are tracking the US dollar and nothing else. They sold off yesterday after the inability to rise resulted in profit taking and short sellers coming to picture. If global equities rise further and the US dollar gains over the coming weeks then gold and silver will be affected more in a negative way than other commodities.
Wednesday Edition: May 14, 2008 |
Gold Seeker Closing Report: Gold and Silver Fall Slightly
By: Chris Mullen, Gold-Seeker.com
Gold fell to $859.00 by late trade in Asia before it rose to find a slight gain at $870.85 by early trade in New York, but it then fell back off a bit in the last few hours of trade and ended with a loss of 0.4%. Silver fell to $16.54 and rose to $16.89 before it also fell back off and ended with a loss of 0.9%.
Four Proofs of Silver Manipulation!
By: Jason Hommel, Silver Stock Report
The very nature of silver itself is that it is not a promise, it is payment in full. All kinds of paper promises are by nature, a substitute for silver and gold, and hence a manipulation, because their very existence creates a substitute demand for something other than physical silver and gold.
Ira Epstein & Company Weekly Metal Report
By: Ira Epstein
Gold has temporarily lost its “coveted” position. The key word here is “temporarily” as I believe that once the US economy rebound sets in, even with a stronger Dollar, metal prices will rebound due to increased inflation along with increased real physical demand for Gold and Silver. However, the market is not yet near that point. Rather, I see the metal markets as being in a liquidation mode.
Success Leads to Excess
By: Bill Bonner & The Daily Reckoning Crew
-The U.S. economy is still 'far from normal'…when houses go down - so does the rest of the consumer economy…
-How much did 'just-in-time' inventory systems save consumers?…a look back at the 1970's…
-Food prices rise the most since 1990…when you can't borrow your way out…and more!
New Study Finds Silver Futures Market is Functioning Properly
By: U.S. Commodities Futures Trading Commission
The Commodity Futures Trading Commission’s (CFTC) Division of Market Oversight (DMO) today released a report that re-examines long-term and recent allegations of misconduct in the silver markets and finds that there is no evidence of manipulation in those markets for the trading period examined.
Gold Resource Intersects Highest Gold to Date at Its El Aguila Project
By: Gold Resource Corporation
Returns 1.3M of 142.5 g/t (4.58 oz/t) Gold and 800 g/t (26 oz/t) Silver at La Arista Deposit.
A Critical Point?
By: Theodore Butler
Here are a few brief observations on the current market structure, as depicted in the most recent Commitment of Traders Report (COT), for positions held as of the close of business May 6. On the surface, there were no big surprises, with slight reductions being recorded in the total net commercial short positions in both COMEX silver and gold futures.
The “BRICs” (and Mortar) of the New Global Economy
By: John Browne – Senior Market Advisor, Euro Pacific Capital
In the early days of the American republic, fortune seekers were urged to “Go west young man!” Unfortunately, with the American economy now clearly showing its fragility, the rallying cry for today could be, “Go abroad!”
How to ‘Invest’ with $100,000
By: Dudley Pierce Baker
For the last two days, I attended and participated in the Hard Assets Investment Conference in New York City which was well attended with many great speakers and companies. I always encourage investors to attend these conferences to get a real ‘hands on feel’, after all, it is your money. Meet the management, ask questions and visit newsletter writers.
Stopped Out! When to Get Back into the Gold Market
By: George Cocalis
As gold tries to gain traction and reverse its course on the upside, traders are starting to re-enter the market cautiously. After strategically placing stops on the downside and getting stopped out, the question is: where do you get back into the market?
Gold Remains Lackluster Within Range
By: Peter A. Grant, USAGOLD
Gold continues to trade in a heavy manner, confined to the lower third of the recent range. The yellow metal got an intraday boost from a new record in oil on Tuesday, but these gains could not be sustained.
Gold Bounces into US Open on Strong Inflation Data; Real Wages Fall 0.5% as Home Foreclosures Surge
By: Adrian Ash, Bullion Vault
"The Gold Market is at standstill," reckoned Tatsuo Kageyama, a precious metals analyst at Kanetsu Asset Management, in Tokyo this morning.
Gold Investments Market Update
By: Gold Investments
Momentum traders and short term speculative players continue to exert pressure on the gold market but continuing demand for physical bullion from those with a more medium to long term investment horizon, namely individual investors, pension funds, sovereign wealth funds and indeed central banks in Asia, Russia and elsewhere will ultimately lead to higher gold prices in the medium and long term.
Gold and Oil Price Limits
By: James West, Midas Letter
Now everybody’s getting crazy in the price forecasting side of things. Increasingly, in an effort to draw attention as contrarian prophets, tout sheet vendors around the world are making price calls on oil and gas that while possible, are not likely. There are very real market factors that limit the heights to which any commodity price can soar.
Maps of Real Estate Doom
By: Gary North, Mises on Money
We are all in a large canoe. The canoe is headed for the falls. We can hear the roar of the water.
Meanwhile, Dr. Bernanke is giving us lectures about past scenery and future prospects if we can just find a new creek to go down.
When Boredom Turns Stressful
By: Rick Ackerman, Rick's Picks
Yesterday’s headline implied that it might be time for bears to take a vacation, but perhaps the mental health of bulls too might benefit if they “go away in May.” Seasonality will favor longer lapses of tedium on the nation’s bourses in the months ahead, but on Wall Street that is surely no remedy for hypertension. Quite the opposite, in fact, since prolonged stretches of sideways price action are almost as stressful as the number one killer of money managers, bear markets.
Asian Metals market Update for 14th May, 2008
By: Chintan Karnani, Insignia Consultants
For the rest of may, Euro zone and UK economic numbers will affect the US dollar more than US economic numbers as the worst on US economy has already been discounted.
Tuesday Edition: May 13, 2008 |
Not Your Father's Recession
By: Bill Bonner & The Daily Reckoning Crew
-Not your garden-variety recession…the main crisis may be over - but the long, slow slump awaits us…
-The world is moving and improving - and leaving the United States behind…the globalization of inflation…
-The Great Moderation was fun while it lasted…still opportunity in emerging markets - especially India…and more!
How to Safely Play China’s Growth
By: Fitzroy McLean, Casey Research
Unless you’ve been cooped up in Guantanamo for the last few years, you’re already familiar with the miracle of China, Inc.; 11.4% GDP growth, the world’s “go to” manufacturing center, a 1 billion strong local consumer market, and some of the greatest business opportunities in the history of the world.
Pay Me Now or Pay Me Later?
By: Gary Tanashian
At some point the miners will anticipate the next rise in the curve and it would certainly be nice if they do so after already having dropped to test the recent lows or preferably, break to new lows and hold strong lateral support. All of this happening before that right shoulder has a chance to even think about forming would be quite a set up for those of us who like to buy the washouts in this sector.
Gold Bounces as Western Stocks Fall on "Horrific" Data; Volatility and Risk-Aversion Set to Surge Once Again, Says UBS
By: Adrian Ash, BullionVault
SPOT GOLD PRICES fell to a three-session low early Tuesday, finally bouncing higher from $876 per ounce as European equities slipped alongside crude oil prices and government bonds.
Gold Investments Market Update
By: Gold Investments
Gold was down 80 cents to $883.90 yesterday but silver was up 36 cents to $17.16. The London AM Gold Fix at 1030 GMT this morning was at $877.00, £450.18 and €566.61 (from $887.25, £453.91 and €573.60 yesterday).
Gold versus Industrial Commodities
By: Steven Saville, Speculative Investor
With reference to the following long-term chart*, notice that oil moved back and forth within a wide horizontal trading range between 1980 and the early years of the current decade before finally breaking out to the upside in 2004. Notice, as well, that after it broke above long-term resistance at $40 in 2004 it quickly gained about $15 (37%) and then dropped all the way back to $40 to 'test' its breakout before resuming its upward trend.
Big Government Responsible for Housing Bubble
By: Dr. Ron Paul, U.S. Congressman
The House passed two bills attempting to rehabilitate the housing and mortgage market this week. There doesn't seem to be any shortage of criticism and blame for the bad decisions, and rightly so. Lenders and banks do share much of the blame for the overheated market.
Government Approves 'Unemployed' as Job Description
By: Richard Daughty, The MOGAMBO GURU
Maybe this 'recession' thing is why the Labor Department reported that the U.S. lost another 20,000 jobs in April. In fact, the economy has shed 260,000 jobs since New Year's Day!
Bears Should Take a Holiday
By: Rick Ackerman, Rick's Picks
Bears eager to stay out of harm’s way might want to consider taking a week’s vacation, since just about every stock we track looks like it’s headed higher – including mining shares. Issues favored by the bullish lunatic fringe in particular look explosive at the moment -- none quite so powerfully, perhaps, as Research in Motion (RIMM).
Asian Metals Market Update for 13th May, 2008
By: Chintan Karnani, Insignia Consultants
The earthquake in China should result in greater demand for base metals as the counties which are affected will need to restore power and other essential supplies. At the beginning of the year China experienced the worst snowfall in over fifty years and now the earthquake.
Monday Edition: May 12, 2008 |
American Stock Exchange Lists the Common Stock of Timberline Resources Corp: TLR
By: GoldSeek.com
"The American Stock Exchange is the premier exchange for mining companies and we are pleased to welcome Timberline Resources to this growing segment," said Neal Wolkoff, Chairman and CEO, of the Amex. "We look forward to working closely with Timberline on building additional shareholder value as well as providing the solid support and services that are essential in today's competitive marketplace."
GOLD/HUI - Bottom Must be Near!
By: Eric Hommelberg
In this short technical piece I want to show a few charts which do suggest a bottom for gold (and major gold stocks) must be near indeed. The recent drop in gold has spooked many investors out of their gold positions but again investors should realize that we've been there before and nasty corrections like these will happen again and again during the remainder of this gold bull market.
How Do You Say 'We Surrender' in Mandarin?
By: Bill Bonner & The Daily Reckoning Crew
-China: bigger, faster, stronger…the world's up-and-comer does have some trouble on the way…
-More and more people competing for the world's resources…farmers say 'rain, rain go away' throughout the United States…
-The Chinese work their way up the ladder, as Americans work their way down…only hours remain to get three free months of Resource Trader Alert…and more!
Neither A Borrower Nor A Lender Be
By: Captain Hook
And most certainly, don’t be a gold producer, as the deck is definitively stacked against you here too. We will get back to this subject in just a minute. But first, let’s expand on that title, as it’s a beauty given global monetary conditions appear to be progressing into a state of hyperinflation.
Triage In Financial Markets
By: Darryl Robert Schoon
Global financial markets are in extreme triage following the credit contraction of August 2007. It is believed central bankers are trying to restore markets to help the economy. In truth, they are like life insurance companies fighting to keep a wealthy patient alive so the high premiums will continue to be paid and the large death payout will be postponed.
The Little Recession That Never Was
By: Howard S. Katz
Since the sub-prime crisis broke last August, there has been a great deal of discussion of a coming recession. I am calling this discussion to an end with Katz dictum #375: DICTUM #375: Nobody who believes in recessions is allowed to call himself a gold bug.
Technically Precious with Merv
By: Merv Burak, CMT
This is a difficult time for a gold analyst, especially when one doesn’t REALLY know what the heck’s going on behind the scenes. However, one must go on with whatever little intelligence one has and still make broad pronouncements. Let’s see what the charts are telling us.
Precious Metal Stock Review
By: Warren Bevan
Gold had a very constructive, textbook week bouncing off sharply from the multi-decade support line at $850. There appears to be clear sailing to $900, and that should be early next week. Look for some resistance between $900 and $910 but it should not prove significant.
Gold Slips as "Sea Change" Spied in Forex Market, Inflation for UK Factories Hits 23%
By: Adrian Ash, BullionVault
THE SPOT PRICE OF GOLD slipped $10 early in London on Monday, trading below $890 per ounce as world stock markets ticked higher and government bonds sold off. The Euro picked up 1.5¢ against the Dollar from last week's two-month beneath $1.5300.
Gold Investments Market Update
By: Gold Investments
After last week’s more than 3% gain in gold, gold surged to nearly $890.00 in early trading in Asia prior to succumbing to subsequent profit taking. The London AM Gold Fix at 1030 GMT this morning was at $887.25, £453.91 and €573.60 (from $863.50, £434.64 and €556.74 on Friday).
Asian Metals Market Update for 12th May, 2008
By: Chintan Karnani, Insignia Consultants
The US dollar has weakened against the yen but gained against the sterling last week. The US dollar was mixed against the euro as it gained but later recouped some of the losses. US retail sales and consumer prices index numbers will be the key for the weekly trend of the US dollar.
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