Gold gained for the third straight session, the longest rally this year, on the realisation that the European crisis may worsen. Fitch Ratings cut Italy’s credit rating by one level on Friday. Fitch downgrading Italy is likely providing support as is robust demand in Asia, particularly China.
Average daily trading combined volumes on the three main gold contracts on the Shanghai Gold Excha... read more
In February 2013, the U.S. Mint reported that it sold almost 3.7 million ounces of silver in coins. In the same period of 2012, it sold 1.49 million ounces of silver.
Simple calculation would show that’s an increase of more than 148% in demand for silver coins in one year! (Source: U.S. Mint)
Looking at the long-term chart of silver, we see it is still in a bull market.
As central ba... read more
Today Michael Pento writes for King World News to explain exactly why “Investors need to own precious metals now more than ever as a means of protecting their portfolios during times of currency depreciation and economic chaos.” Below is Pento’s tremendous piece:
“When central bankers dedicate their existence to re-inflating asset bubbles, it shouldn’t at all be a surprise to inve... read more
The Dow Jones Industrial Average climbed a steep wall of worry and last Tuesday returned to its all-time high from late 2007. The Dow finished at 14253.77, topping the previous record set in October 2007 and is already up 8.8% for the year. The Fed’s expansive monetary policy to prop up the economy has kept stocks climbing higher despite a less than glowing global economy. By pumping trillion... read more
"As 2013 begins, the downside risks to the global economy are gathering force." - Noriel Roubini
"Madness is rare in individuals - but in groups, parties, nations, and ages it is the rule." - Friedrich Nietzsche
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Pre-Game
I recall a terrifying experience years ago. It was my last flight of the year, and I was headed home for Christmas. The plane was speeding down the runway to take off, when the pilot suddenly reversed thrust and slammed on the brakes; the plane shook like I have never experienced before as the pilot aborted the takeoff. As we stopped mere feet from the end of the runway and caught our breath, t... read more
Today 40-year veteran, Robert Fitzwilson, wrote the following piece exclusively for King World News. Fitzwilson, who is founder of The Portola Group, urges investors to keep in mind, “Nothing has changed whatsoever as far as the case for gold and silver ... The case for energy and the precious metals has never been stronger.”
“Many decades ago, Memorex Corporation created a very succes... read more
You wouldn't know it by looking at the price of gold (GLD) and silver (SLV) today, but this morning's labor report was actually a positive development for precious metals.
As detailed here earlier, nonfarm payrolls rose by 236,000 while the unemployment rate fell from 7.9 percent in January to 7.7 percent in February and, at first, this was seen as a negative development for gold and silver... read more
The quantity theory of money and its accompanying equation of exchange are generally accepted as defining the relationship between money and prices. The equation has been expressed a number of ways, always including “velocity of circulation”, which is a variable essential to balance the equation.
Few disagree with the simple premise that an increase in the quantity of money tends to incr... read more
BEIJING (MarketWatch) — China’s policy makers are grappling with an uptick in inflation, just as industrial output and retail sales seem to be softening, data released on Saturday showed.
Compounding the challenges for the government, property sales have been soaring, rising 77.6% from last year’s levels in value terms over the first two months of the 2013, and highlig... read more
