The politicians in Washington are beginning to see that their tens of trillions of dollars of bailouts and guarantees over the past few years have failed to save the economy. Now the rumblings emanating from the nation’s capital are that another round of quantitative easing (which used to be properly described as a huge increase […]
Massive Drain Of COMEX Silver Inventories Continues
On June 16th, the COMEX reported total silver inventories of 119.5 million ounces. Ten trading days later, on June 30, total inventories had fallen to 113.56 million ounces, a 5.94 million ounce (4.97%) decline. There have been significant declines on nine of the last ten trading days, but this story has received almost no coverage […]
Possible Run on COMEX Silver Inventories May Already Be Underway
On June 16th, the COMEX reported total silver inventories of 119.5 million ounces. Six trading days later, on June 24, total inventories had fallen to 114.9 million ounces, a 4.6 million ounce decline. On June 24th, the COMEX silver market had over 137,000 open contracts. At 5,000 ounces per contract, that means that commodity contract […]
Five Reasons To Expect Gold and Silver Prices To Be Suppressed This Week
There are some weeks when there are stronger incentives for the US government to work with its trading partners to hold down gold and silver prices. Precious metals prices took a tumble as soon as the US markets opened on Monday this week. The trading pattern on the COMEX shows that the prices have been […]
The Main Reason the US Government Is Unlikely To “Confiscate” Gold, But the Legal Basis on Which It Could Theoretically Try To Do So
My June 8 column proclaiming that the specter of “gold confiscation” is a deceptive marketing gimmick rather than reality touched a lot of nerves. There are obviously a number of people who are deeply fearful that there could be some kind of mandatory redemption unleashed with no notice. Even the economic information I presented in […]
Thinking of Selling Your Gold Jewelry? Watch Out for Gold Buying Tricks and Scams
With the highest unemployment levels in decades, many Americans are looking for ways to bring home extra cash. Well, just about everyone has heard that the price of gold has been at or near all-time record levels for much of the past two years (ignoring inflation). In addition, there are a number of so-called gold […]
Fractional 2010 Gold Eagle Sales Begin
Sales of the United States Mint’s fractional 2010 American Gold Eagle bullion coins are off to a brisk start, but the initial sales failed to match the torrid pace set by last year’s offering. The fractional Gold Eagles are available in one-half ounce, one-quarter ounce, and one-tenth ounce sizes. Typically, these coins are offered along […]
Prediction: Gold and Silver Will Enjoy Price Spikes by the End of July
Short term predictions are treacherous. There are so many factors that could impact the timing and the size of a market move, that it is easy to be wrong on direction of a move, the extent of the change, as well as the timing. Despite that, a number of points lead me to predict that […]
The Specter of “Gold Confiscation” Is a Deceptive Marketing Gimmick Rather Than Reality!
When people are fearful, they more likely to be duped by marketing ploys that, to be generous, stretch the truth. The general public’s lack of knowledge makes them more vulnerable to be steered toward merchandise that makes a higher profit for the seller, but may end up being a poor deal for the buyer. In […]
May’s 195,000 Job Losses Reported As Largest Monthly Jobs Gain In Past Decade?
At 8:30 Eastern time this morning, the US Bureau of Labor Statistics (BLS) released its monthly jobs report. The news headlines for the release of these reports say, for example, “Largest Monthly Jobs Gain In Past Decade!” But, if you actually read the details in the reports (there are over two dozen of them), and […]
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