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Friday Edition: May 24, 2024

Gold Mid-Tiers’ Q1’24 Fundamentals

Mid-tier gold miners continued reporting spectacular quarterly results. They kept growing their production when adjusted for one GDXJ-upper-ranks composition change.

BRICS Go Gold: Dollar Dives as Global Economy Braces for Inflation, Bank Failures, Bank Runs & QE Returns

​​​​​​​The US dollar is in a critical state. With an alarming 34 trillion debt, unfunded liabilities approaching 200 trillion, and perpetual wars, the situation is grave. 

Why It’s Time to Stop Taxing Gold & Silver

It’s unfair for the U.S. government to tax capital gains on gold and silver. Those “gains” are the result of the debasement of paper money, which is the fault of the U.S. government!

Exceptionally Strong PBoC and Chinese Private Sector Buying Continues to Boost Gold Price

China continues to be the marginal buyer in the gold market, driving up the price. I expect that China will remain a robust buyer of gold going forward in support of the price.

Market Denial Gets Hammered Again

Rates will have to come up more to drive inflation down, and the longer Powell denies that, the worse it will be. The market still hasn't prepared for “harder and longer” tightening.

Big Banks Are Pressuring the Fed to Loosen Protection for Depositors

You should not rely on the banking regulators to protect your bank deposits because they are under significant pressure from the powerful banking lobby.

Metals: Beware of Memorial Day Trading Hours

The pattern is an instant correction. Remember, it was $2452 and suddenly it's at $2332. So the gold market is down $120 an ounce.

Asian Metals Market Update for 24th May 2024

The fall in gold, silver, and copper will be called a correction. The short-term bearish trend will be confirmed only if the falling trend continues next week.

Thursday Edition: May 23, 2024

GoldSeek Radio Nugget - Peter Schiff: Precious Metals Poised for Breakout

Schiff predicts explosive growth in undervalued precious metal stocks and expects gold to reach $10,000 to $20,000 soon, with silver potentially outpacing gold in growth.

How Artificial Intelligence Will Radically Transform the World

AI is going to be huge. We’re really on the cusp of the biggest revolution in world history. The avalanche of new wealth that will be created will effectively eliminate poverty.

The Market Knows What it Knows but Doesn't Know a Darn Thing

While investors think six months of falling inflation should prompt Fed rate cuts, they ignore that nearly six months of rising inflation now should be enough for the Fed to raise rates.

Zombie Inflation and the Return of Rate Cuts: A Detailed Breakdown

Mike Maharrey dives into the current state of the economy, inflation, and the Federal Reserve's monetary policy. He also describes inflation as a "zombie" that never truly dies.

Fortitude Gold Drills 6.10 Meters Grading 3.47 g/t Gold Within 9.14 Meters Grading 2.45 g/t Gold at East Camp Douglas North

CEO Reid: "Our East Camp North area continues to deliver exciting and impressive gold grades and interval widths including over thirty meters, or one hundred feet, of 1.2 grams per tonne gold."

Metals: NVIDIA Beats Expectations and FED Worried About Inflation

We knew we'd see some resistance in the $2450. The gold market hasn't broken the uptrend, you'd have to get under these lows to do that – and the first support's at $2359.

Asian Metals Market Update for 23rd May 2024

Long-term investors of gold and silver are suggested to hold onto their investment. Do not panic even if there is a short-lived, short-term bearish trend.

Wednesday Edition: May 22, 2024

Titillating Tidbits: Blocking CBDCs

Several states have taken steps to block the use of central bank digital currencies within their states. That is a welcome step that will slow down the adoption of CBDCs.

Chinese Gold Demand Charted Another Strong Month in April

Chinese, and more generally Asian, gold demand has helped drive the recent gold bull market. Gold has gained about 22 percent since mid-February. 

Gold and Silver Expose Stock Market’s Phony Gains

The Dow is indeed racing higher in terms of depreciating U.S. fiat dollars. But what about in terms of real money – gold and silver?

When the Rubber Hits the Road: The Scorching Precious Metals Sector Rally Ahead

Going forward, if we see widespread dumping of Treasuries coupled with a buyer’s strike and the Fed aggressively monetising new issue, as looks likely, it means that the dollar and the dollar index will drop and drop hard.

The Vietnamization of Ukraine

The U.S. media is so closely tied to the military-industrial complex that it is also a stakeholder in war profits, so they aren’t about to rock the boat.

Fortuna’s Yaramoko Mine Reaches One-Million-Ounce Gold Pour Milestone

The company is pleased to report that the Yaramoko Mine located in Burkina Faso reached the one-million-ounce gold pour milestone on May 19, 2024.

Market Will Focus on European CPI & PPI for Confirmation of Rate Cut

In the gold market, the bias is still up on a weekly basis with an all-time high in the market: $2454.20. The pattern is still one of higher and lows higher highs – bullish.

Asian Metals Market Update for 22nd May 2024

India’s physical demand for gold and silver will start in a big way only from the middle of June. Cash is still used in a big way to buy gold/silver in any form.

Tuesday Edition: May 21, 2024

Gold: Chinese Gamblers Take Centre Stage

Chinese citizens are the world’s biggest gamblers and they’ve been gambling with gold on their futures market (SHFE). 

Signed Into Law: Alabama Abolishes Income Taxes on Gold and Silver

The sale of precious metals is excluded from AL taxpayers' adjusted gross income (AGI). This shields individuals from tax on constitutional forms of currency.

End the Fed…and Replace It with What?

Rep. Thomas Massie’s bill, the Federal Reserve Board Abolition Act (HR 8421), directs the Fed to transfer its assets to the U.S. Treasury Department and thereafter cease operations.

CPI's Little Head Fake

While Powell has been hoping the past year of rising inflation would turn out to be a blip, the only “blip” was the slight return to falling inflation in April.

Is the Melt Up Ending in Metals?

You can see how the market shot up and got to $2454, and it's back down to $2430. The pattern is still bullish, with higher lows, and higher highs.

Asian Metals Market Update for 21st May 2024

Gold is still in diversification mode as traders and nations hedge against long-term decline in the purchasing value of currency markets.


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