Gold is back in a bull market for the first time since 2013 as concerns about global growth rise.
Gold spot prices climbed to $1,272.77 an ounce on Friday, after settling at $1,264.25 on the previous day.
Thursday's close marks a 20pc gain from the most recent low of $1,052.94 in December, meeting the typical definition of a bull market.
Signs that US gro... read more
Less than 24 hours ago we presented the latest reason byJPM's Mislav Matejka explaining why the equity strategist refuses to buy this market, to wit: "equities are down ytd, but notably the ’16 P/E is not much cheaper today than it was at the start of the year. In fact, for the US, the P/E multiple is currently higher than it was on 1st January, at 16.8x vs 16.6x then."
Fast forward to tod... read more
Gains from December low top $200 or 20%
Gold price: It's official – bull market is back
Gold’s 2016 rally gathered momentum on Thursday with the metal exchanging hands for $1,269.30 an ounce in late afternoon trade, up $27.50 or 2.2% from yesterday’s close to a one-year high.
Gains in Comex futures for delivery in April, the most active contract, came in heavy volumes of more... read more
With the price of gold surging nearly $30 at one point, today a famed short seller covered the big news in the gold market and the reason why gold is on a tear.
Bill Fleckenstein on pullbacks in the gold sector:
“There will always be corrections, the only question is how deep they will be. Currently, those on the sidelines are looking for a SEVERE decline, and I don’t think they will... read more
Between 2008 and 2015, central banks pretended that they had fixed the economy.
In 2016, they’re starting to admit that they haven’t fixed much of anything.
The current head of the Bank of England (Mark Carney) said last week:
The global economy risks becoming trapped in a low growth, low inflation, low interest rate equilibrium. For the past seven years, growth has serially dis... read more
With the public’s large short position in stocks continuing to remain under some pressure, today a 50-year market veteran spoke with King World News about the war in gold and a historic opportunity in the silver market.
John Embry: “Right now I’m focused on the interesting action in gold. Despite the commercials best attempts to knock gold down with relentless shorting, gold seems in... read more
The astonishing strength behind the most recent rally in gold is known to all readers. Also, the reasons behind gold's change in fortune have been well documented by such writers as Michael Pento, Egon Von Greyerz, Peter Schiff, Marc Faber, James Turk, Rick Rule and on this site by Clive. Hence, there is no need to discuss this here. Suffice it to say that the scale of the developing global f... read more
Gold is currently trading in excess of $1200 an ounce. This is well above the 1980 all-time high. However, this is an incomplete representation of what gold is trading at relative to US dollars. When you look at the gold price relative to US currency in existence, then it is at its lowest value it has ever been. This is an example of how paper assets are completely out of tune with tangible (re... read more
