Gold Editorials & Commentary

The smaller gold miners and explorers have suffered catastrophic stock-price losses in recent years. These extreme declines have led investors and speculators to assume that much of this sector won’t survive lower prevailing gold prices. But nothing could be...

At the end of the week before last the amount of physical gold held by the SPDR Gold Trust (GLD), the largest gold bullion ETF, fell to its lowest level since September-2008. What does this tell us?

There are various reasons, both fundamental and technical, to believe that a market crash is almost upon us. This crash will affect virtually all world markets, including and especially the big Western Markets which have thus far escaped the devastation already...

Originally published May, 2004: For many months now I have been spending many long, enjoyable and fruitful hours reading hundreds of excellent essays in the modern day equivalents of the public library. These websites, their owners and contributors are similar to...

We concluded in previous article that gold is not an inflation hedge, at least for the short or medium-term investors. So maybe it is a safe-haven, the second most important feature assigned to gold?

It is official; the multi-month trading range on Wall Street has now ended with a breakout to the downside. You will recall that the major US indices were in a quiet, consolidation phase since December and over the past several weeks, we wrote extensively about the...

A five year old could look at today’s stock market chart and see that it is set for a free-fall! The question remains, WHEN and HOW MUCH will it decline? I have said before May is a good month to go on vacation and return after the usual fall correction, just...

I always advise investors to follow the smart money, and two people high on the list are Stanley Druckenmiller and Warren Buffett. Second-quarter regulatory filings show that Stanley Druckenmiller, the famed hedge fund manager, just placed more than $323 million of...

NFTRH 353 introduced the idea of a Macrocosm, a planetary representation of elements that need to come into place for a real investment stance on the gold stock sector (as opposed to the imagined elements cooked up by perma-bulls over the last few years). The...

I hate to be the bearer of bad news, but our cycle work suggests an additional 12-18 months of correction before the Major bottom in both gold and silver prices. Now, before you get too upset let me explain why we are supporting such an unpopular view.

China's recent mini-devaluations had less to do with her mounting economic challenges…and more to do with a statement from the IMF on 4 August, that it was proposing to defer the decision to include the yuan in the SDR until next October.

Most people are blissfully ignorant of the fact that 2007-8 was just a mild rehearsal of what we soon are going to experience. The additional $60 trillion in credit and printed money since then and the lowering of interest rates to zero have given the world the...

“On May 22, 2015, Yi Gang, the Vice-Governor of the People’s Bank of China (the “PBoC”) said at a forum in Beijing that “It’s not necessary”1 to bolster growth by devaluing the yuan. Mr. Yi pointed to China’s trade surplus, which has narrowed in recent years but...

The idea of a "Dollar price of gold" is a mistaken idea, although universally shared. Just as mistaken as the idea that the Sun revolves around the Earth. Gold is the most highly demanded of all things in this world. Every single gram of gold in the world is owned...

Many have written about the devaluation of the Chinese currency last week, in particular its causes and consequences. In mainstream media, most opinions are centered around the weakness of the Chinese economy which is now growing less than 7%. Logically, they argue...

The FOMC minutes release tomorrow should bring some short-term weakness to global gold prices, but I expect many individual gold and silver stocks to continue their strong rallies.

HSBC, the fourth-largest bank in the world, is predicting that the price of gold will be up 10 per cent by the end of this year and finish the year worth around $1,225 an ounce. Gold is down six per cent year-to-date.

How is it that the paper price of gold can be on the verge of collapse, while oddly enough the demand for the physical precious metal itself can barely be met by the supply?

Stan Druckenmiller is going big on gold. Moreover, Druckenmiller is one of the world’s most successful and respected traders. As a hedge fund manager from 1986 to 2010, he generated an incredible average annual return of 30%.

But will the gold price and silver price hold? Various commentators have said over the past few weeks that the precious metals have been subjected to what seems desperate action from the intervensionists to prevent a rising trend. It is also noticeable that at the...

Gold is very different from all other commodities. This is due to physical characteristics that caused it to be money for thousands of years and led to its aboveground supply becoming orders of magnitude greater than its annual production*.

The short and simple answer to this question is yes! Some will say--that is just my opinion. I could show you numerous equations proving the gold stocks were cheaper in 2008 than today and vice versa using similar metrics.

In the past, the topic of "backwardation" has come up -- and I've tried to write about and simplify understanding it.  We now have backwardation deeper and further out than anything we've seen in the past. Therefore, it's time again to visit this anomaly. 

As we noted in a recent article, bear markets typically are caused by one of two things: a recession or tight monetary conditions. For example, the 2000-2002 bear market featured a rough economic period in 2001 (see table below).

The inherent risk associated with the junior mining sector steers many prospective investors away from opportunities. Commonly cited reasons for resistance include the speculative nature of the properties being prospected and foggy relationships with governmental...

Stronger than expected US retail sales data undercut some of the recent safe haven trades (buying bonds, the yen and gold) sending all three lower in today’s session. For the first two weeks of August, retails sales are up 1.7% versus a year ago and up 0.3% from...

Stan Druckenmiller is going big on gold. Druckenmiller is one of the world’s most successful and respected traders. As a hedge fund manager from 1986 to 2010, he generated an incredible average annual return of 30%.

Here are ten basic gold-market realities that are either unknown or ignored by many gold ‘experts’. 1. Supply always equals demand, with the price changing to maintain the equivalence. In this respect the gold market is no different from any other market that clears...

We have looked at plenty enough evidence in recent weeks that a crash is looming for US markets, and now we are going to take a look at another important piece of evidence that we haven’t previously considered – the Junk Bond market.

As the world races towards another financial calamity, the U.S. Empire’s strategy to shield itself from this impending disaster, is to export all of its gold supply. That’s correct. The U.S. Gold Market can be explained in three simple words… ZERO SUM GAME.