Gold Editorials & Commentary

[Editor’s note: The following was sent out to clients in mid-July by my friend Doug Behnfield, a financial advisor and senior vice president at Morgan Stanley Wealth Management in Boulder, CO.  Long-time followers of Rick’s Picks will be familiar with Doug’s work,...

Suspicion that there is surreptitious official support for Wall Street has gained much ground in the alternative media since the blatant Fed support for the stock exchange and the economy in 2009. Two more recent bear spikes on Wall Street tested official resolve to...

There is some evidence that we are still in the bull market which started in 2009 and which could continue into 2021 until major cycles take over, and it ends.  A move up to ~4500 is possible before the current bull market makes a final top and SPX corrects into its...

Last week's trading saw gold forming its high in Tuesday's session, here doing so with the tag of the 1797.60 figure. From there, a sideways-to-down consolidation was seen into a Thursday low of 1774.60 - before bouncing slightly off the same into Friday, managing...

Never was anything of such high intrinsic value so unloved: Gold. Never was anything of such low earnings output so adored: the S&P 500. And as you regular readers well know, the current market levels of Gold (1783) and the S&P (4442) ought justifiably be...

All is well with the stock market, as per the Dow Jones’ BEV chart below.  Exactly like every other daily closing since November 4th of last year, where the Dow Jones has closed either at a new all-time high (BEV Zero) or in scoring position of making one (within 5...

In our last editorial, we noted that if the gold stocks (HUI & GDXJ), which were in a precarious position, lost their lines of support, it could lead to another 15% to 20% downside.

Don't want to listen? Read the podcast below! Welcome to this week’s Market Wrap Podcast, I’m Mike Gleason. A rising U.S. Dollar Index is putting downward pressure on hard assets markets this week.

Our proprietary cycle indicator is DOWN. Gold sector is on long term SELL signal. Long term – on major SELL signal. Short term – on sell signals. Gold sector cycle is down.

Gold stocks’ best-performing subset has been pummeled lower recently, leaving a wake of devastated sentiment.  Traders have wholesale abandoned the mid-tier and junior gold miners which are this sector’s sweet spot for upside potential during gold uplegs.  These...

The inflation monster has reared its ugly head. The CPI annual rate surged to 5.4% in June, accelerating from already mind-blowing 5% in May. It was the hottest pace since the Great Recession. However, Powell and his colleagues from the FOMC still claim that...

Ladies and gentlemen, we have a breakdown! Gold stocks underperformed the yellow metal so much that they reached the lowest levels seen this year…

The rise and fall of gold stocks is a story of hurt and disappointment. That is because most of the time gold stocks are in decline.

The intermediate cycle in gold (chart below) has formed turning points roughly every 128-calendar days (4.2-months). That cycle just turned again, triggering an intermediate low on August 9, 2021. Gold must now stay above that low to prevent a breakdown to the $1500...

Today marks 50 years since President Richard Nixon closed the “gold window,” ending the ability of foreign governments to exchange United States dollars for gold. Nixon’s action severed the last link between the dollar and gold, giving the U.S. a fiat currency.

In our post on August 11 titled End of an ERA: The Bretton Woods System and Gold Standard Exchange, we discussed the significance of then-President Nixon’s action of closing the gold window thereby ending the Bretton Woods Monetary system.

The latest FOMC minutes show that the Fed will likely taper quantitative easing this year. It’s largely priced in, but downside risks to gold remain.

The gold cartel is going to attack gold as much as they can to keep commodity markets in check. The miners are playing out as I warned this would. The cartel would undercut the lows of the mining stocks, attacking the miners

Exactly 50 years have passed since the US Government famously suspended the convertibility of US dollars into gold on 15 August 1971 in a speech announced by then US president Richard Nixon.

Central bankers were handed the Midas curse half a century ago. Midas turned everything that he touched into gold– even his own food. Exactly 50 years ago (15 Aug, 1971) central bankers were handed a much worse curse by Nixon. But instead of turning everything into...

Gold’s potential reward vs. the risk in stocks is absolutely compelling now. That is not a comment on near-term price action, but it is something a real risk/reward investor would be all over. Here is a chart we use in NFTRH to keep an eye on this concept while...

Afghanistan has fallen. The U.S. government’s nearly two-decade-long, multi-trillion-dollar “nation building” effort in the troubled, tribal country may now have nothing to show for itself.

The junior mining stocks’ extreme underperformance is the “new normal” that barely anyone talks about. Ignorance is pleasant, but it comes at a cost.

When I predicted the virus crisis of 2020 before there was any Corona, I did it using long-term cycles.  I’ve since suggested that investors need to be prepared for a possible (and potentially more ominous) war cycle in 2021-2025.

Hey, you want to hear a joke that’s just not funny? Gold miners’ performance. I told you it wasn’t funny. It’s very informative though. With gold stocks completely ignoring gold’s gains, the myriads of factors that I’ve been discussing for weeks might not have been...

Inflation eased a bit in July, but it remained disturbingly high. According to the latest BLS report on inflation, the CPI increased 0.5% in July after rising 0.9% in June. The core CPI, which excludes food and energy, also softened, as it rose 0.3% in July after...

Gold is probably at a resistance where it take another hit. I doubt the cartel will let gold get through on the first try.  Gold miners' bottom opportunity.

Nixon Abandons Gold 1971 - Bill Holter & Andy Schectman join us to explain what happened, the negative changes since 1971 and how the market is on the verge of forcing us back onto a gold standard.

Another Federal Reserve speaker speaks to manipulate gold price and bring it down. Boston Federal Reserve Bank President Eric Rosengren said yesterday that one more month of strong job gains could satisfy the U.S. central bank’s requirements for beginning to reduce...

The best performing precious metal for the week was platinum, up 4.93%. Barrick Gold’s earnings exceeded estimates as higher metal prices blunted the impact of rising costs and lower output for the world’s second-largest bullion producer.