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Wednesday Edition: July 24, 2024

Central Planning, Hubris, and a Lesson from 1953

No matter how good the storyline the Fed writes, things are never going to go according to the script. Unfortunately, hubris blinds people to their fallibility.

India & The PCE: Bull Signals For Gold

Gold reached my newest buy zone of $2385-$2365. Subscribers bought modestly and the price is already up $20/oz from the low.

India Slashes Import Tax on Gold and Silver

Through the first five months of 2024, gold imports into India increased by 26 percent year-on-year, with 230 tons of gold flowing into the country. This is despite record-high prices.

Big Demand for 2-Year US Debt Supports Gold

Notice how we've been just hanging here at this $2424.10 level...l ultimately think we're going up to another level here because India lowered the tax on gold.

Tuesday Edition: July 23, 2024

Gen Z and Millennial Investors Want Gold!

Young people are also becoming increasingly aware of the increasing risk in today's economy with rapidly increasing government debt and rampant price inflation.

Republican Platform Ignores Real Causes of Inflation

Other than a promise to cut “wasteful” spending, and a pledge to eliminate the Department of Education, the Republican platform is largely silent on proposals to reduce federal spending.

Biden Out: How Will Gold and Silver Markets Respond?

Bullion investors in the U.S., who tend to skew conservative or libertarian, may be feeling less anxious in recent months.

The Year of Chaos Roars!

This isn’t just the most tumultuous year of political chaos in the US; geopolitics has ramped up in the last few months to suddenly outweigh inflation as a concern for markets.

We Are in a Recession in Full-Time Jobs

The labor market isn’t telling us the economy is strong. It’s signaling recession with full-time employment dropping.

Gold SWOT: Gold Is Finding Momentum, Touching a New All-Time High of $2,470

The best-performing precious metal for the week was gold, but still down 0.80%. Total known ETF holdings of gold bottomed out at 80 million troy ounces on May 13, 2024.

Fortuna to Release Second Quarter 2024 Financial Results On August 7, 2024; Conference Call at 12 PM EDT on August 8, 2024

The company announces that it will release its unaudited financial statements and MD&A for the second quarter on Wednesday, August 7, 2024, after the market closes.

Metals Maintain Short Term Trend Down

The gold market tested a prior triple top and stays above the 18-week average. Despite pullback from a high of $2488.40, support is likely at the 18-day average of closes.

Asian Metals Market Update for 23rd July 2024

Long-term investors and medium-term investors, do not worry an iota for gold, silver, and copper. A 'buy on dips' mentality is still evident in gold and silver. Short selling is done only by intraday traders.

Monday Edition: July 22, 2024

GoldSeek Radio Nugget - Bob Hoye: Gold's Strength in Current Conditions

Hoye discussed the overbought rally in gold and U.S. dollars, expecting a correction. In a recession, liquidity will drive bids for both, but no huge price moves are expected.

Ed Steer on Money Metals Podcast: Insights on Gold, Silver, and Market Dynamics

Maharrey interviewed Ed Steer, a gold and silver analyst with nearly 30 years of experience. Steer discussed market manipulations, supply-demand, and future prices.

Political and Economic Turmoil Suddenly Surging

Dangers loom for stock market investors. Physical precious metals will continue to serve as a safe haven from risky financial assets and the ongoing depreciation of the U.S. currency.

Descending Price Peaks In Latest Gold Charts

Over time, the increasing price of gold matches the loss of purchasing power in the U.S. dollar that has already occurred.

Corporate Bankruptcies at Highest Level Since Great Recession

We’re already seeing the impacts of tighter monetary policy rippling through the economy with corporate bankruptcies through the first half of 2024 at the highest level in over a decade.

Copper: Humanity’s First and Most Important Future Metal

Extraordinary demand growth, set against a backdrop of constrained supply, is expected to deepen the structural deficit through the end of the decade.

Technical Scoop: Precious Cheapness, Cut Expectation, Oil Rest

It was not a very good week for gold. However, the other precious metals fared even worse. Gold fell 0.9% after once again making new all-time highs to $2,488.

Sunday Edition: July 21, 2024

GoldSeek Radio Nugget - John Williams: The Economy Isn't Growing

Williams says there is no GDP growth year-over-year adjusted for inflation. The gold and silver bull markets could remain solid on continued inflation concerns.

“And So Rates Will Be Higher”- Jerome Powell

In the world of interest rates, “higher for longer” is still the theme. Stocks (especially) and bonds are both fraught with risk at current levels.

Gold Stocks: Profit Booking Is Key

We have been across the board sellers of the senior miners this week (twice!), and US stock market sellers too.

Another Gold Pop n’ Flop

Despite Gold having taken a bit of a blow for the week, the fresh parabolic Long trend “ought” see yet another All-Time-High, shall we say, “sooner than later." 

Going, Not Gone

If housing prices don’t budge, neither will core services inflation. Barring some collapse in food and energy prices, that means overall inflation can’t fall much more from here. This is as good as it gets.

Friday Edition: July 19, 2024

Gold Stocks to Overshoot

Gold miners are about to report their best quarterly results and fattest profits ever, fueling institutional buying.


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