By: Chris Waltzek Ph.D., GoldSeek Radio - 27 June, 2019
- A sea change in central bank attitude towards silver occurred recently in Moscow, where stockpiles include seventy pound bars of silver. - If the trend continues, the already dwindling supply conditions could reach a tipping point faster than anticipated by most financial models. - Against the unprecedented backdrop of over 90 : 1 silver to gold ratio, once silver closes above $21 on a weekly basis, Bill Murphy expects the price to rapidly begin an ascent to the $50 peak of 2008 / 1980, build a new base and ignite the 2nd rocket stage onward to triple digits. Full Story
August Gold’s attempt to reverse from a morning sell-off prompted a subscriber to ask in the Rick’s Picks trading room whether bullion is already getting second wind. I doubt it, since June’s sensational run-up was too steep to sustain and will likely require a breather of perhaps 2-3 weeks to recharge. But I do expect the uptrend to resume after a proper pullback because this month’s surge decisively exceeded clear Hidden Pivot resistances at 1412 and 1432. This is usually a reliable sign that the dominant trend will continue, and it is quite clear in this instance. Full Story
We've decided to play it cautious, by investing in some physical gold, leaving a portion of our portfolio in cash, and following/ investing in gold juniors that are fully cashed up and going drilling, on good projects.
With all that is going on in the world, we believe the gold price will do well over the next few months - there might be a price correction, a reset after so many jumped on the gold bandwagon - but in our opinion the trade is gold, not bonds or equities, with the exception of junior gold stocks. Full Story
Furthermore, if I’m wrong about an imminent price attack to take the price of gold lower, it means that the Central Banks/bullion banks have lost control of the market – at least for the time being – and the market is experiencing Bill “Midas” Murphy’s “commercial signal failure.” If this turns out to be the case, and it is ultimately an inevitability, strap in for some fun if you own physical gold, silver and mining stocks. Full Story
Bitcoin's impressive rise from the dead has hit 11,467 today, exactly two-tenths of a percentage point from the 11492 target I sent out to Rick's Picks subscribers a few weeks ago. There is further potential to 19,850 if certain conditions are met. Let me show you what to look for. Full Story
Central banks continue to show their love for gold. Kazakhstan raised its gold holdings to 11.93 million ounces in May, up from 11.79 million ounces in April. Russia’s climbed from 70.2 million ounces to 70.42 in May. Turkey was also up to 16.03 million ounces in May from 15.99 in April. Additionally, Turkey saw its gold reserves rise $167 million this week from the previous week to now total $21.7 million worth of reserves, according to central bank data.
Illegal gold mining in Ghana is now being cracked down on. A veteran NASA engineer developed a software tool that is capable of identifying illegal mines from satellite photos, making it easier to find and shut down illegal operations. Refiners are also taking steps to reduce illegal mining. Full Story
What happens to the gold price this week will likely set the trend for the foreseeable future. While many precious metals investors disregard technical analysis and key chart formations, you can bet your bottom dollar that large traders and institutions are watching the price action of the yellow metal quite carefully. And if you think that these large traders and institutions don’t believe in market intervention, then you are sadly mistaken.
The entire market is rigged, so we should get past the notion that only the gold and silver prices are controlled. Furthermore, one of the reasons that the gold and silver prices have languished over the past 5+ years has to do with the “Grand Trading Market Casino.” For example, one of the new trendy stocks is ROKU. Full Story
US Dollar took a beating, FOMC leaning on cutting interest rates. One of the board members wants a 50bps cut already. If China and US get together at the G20 then things can change. (video update) Full Story
Here are three numbers to jot down to get an accurate and potentially useful ‘read’ on the aging bull market: 27,436, 28,738 and 33,161. These are ‘Hidden Pivot’ resistance targets for the Dow Industrials, and any one of them could stop the bull in its tracks. Full Story
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