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Euro and Yen Make Up 71.2% Of Dollar Index Which Is Why I Am Dollar Bullish
How many times do you hear someone who sells gold and silver be dollar bullish? Probably not very often. But when you look at what the Dollar Index represents, a basket of other currencies, it’s quite easy to be dollar bullish right now. This doesn’t mean that the dollar is any stronger as far as it’s purchasing power mind you. It just means that it will be stronger versus the main currencies that it competes against; the Euro and the Yen, which make up 71.2% of the Dollar Index. It is the Euro and the Yen that are in deeper...
read morePeter Schiff’s One Week Sale Versus Our Everyday Low Price On Gold
While writing my next article on the Euro and European bank mess, I received a solicitation email from a friendly competitor of mine, Peter Schiff (see ad below). In this email Peter was offering 1/2 ounce gold American Eagle coins at just a 5.75% premium over spot. I wanted to see where his pricing was compared to ours and it turns out our pricing is $6 less per coin. I do agree with Peter that these 1/2 ounce fractional coins are better for barter than the one ounce gold coins, but I also like the 90% silver bags which my customers can get...
read more2012 Predictions For Gold, Silver, Stock Market, Economy and Elections
Recap of 2010 and 2011 While some well known trend forecasters like Gerald Celente were predicting a crash in 2010, I was taking the opposite side saying that “I don’t see it happening as quickly as Celente does.” In September of 2010 I cautioned traders in gold and silver mining stocks to think about taking profit. The HUI at that time was trading around 525 and today, 15 months later, it is trading at 516. I also at that time said the “ProShares UltraShort 20+ Year Treasury (TBT) is in uncharted territory. What this shows...
read moreWhen There Is Blood On The Streets Buy Gold Part 2
Continued from Part 1 Most reading this might not realize that the Fed secretly gave banks and other countries $7.7 trillion during the 2008 financial crisis. The Federal Reserve and the big banks fought for more than two years to keep details of the largest bailout in U.S. history a secret. Now, the rest of the world can see what it was missing. The Fed didn’t tell anyone which banks were in trouble so deep they required a combined $1.2 trillion on Dec. 5, 2008, their single neediest day. The reason you may not find many...
read moreWhen There Is Blood On The Streets Buy Gold Part 1
Are those that bought gold and silver panicking yet? I would hope not. My advice to dollar cost average into a position is paying off as my prediction of a stronger dollar is coming to fruition. But there are some investors who bought gold or silver the past few months that might be panicking. There is a possibility the blood on the streets is not over, but we are inching ever closer. While many other gold guru’s, the one’s who say “the dollar is toast” or “doomed” have been telling everyone to load up with...
read moreConfused About Falling Prices Of Gold and Silver? Part 2
Continued from Part 1 How Far Can the Euro Sink? There are two key areas in the charts below that we need to keep an eye on, the 6/10 low of 1.19 and the 11/05 low of 1.16. If these are breached, could it be game over for the Euro? How much money will Central Banks and the IMF throw at the Euro to keep the game going? What will France and Germany do? We already know their citizens don’t want to throw money at countries that can’t handle their own affairs through austerity. a Where Does This Leave Gold and...
read moreConfused About Falling Prices Of Gold and Silver? Part 1
Are the gold bubble prognosticators right? Is the run in gold and silver over as they fall to a three month low? Nothing could be further from the truth. The reason gold and silver prices have fallen of late is because, as I have been saying, the Dollar Index is rising. This is a 40 year pattern that was last repeated in 2008 when the Dollar Index broke above the 80 mark. Yesterday, the Dollar Index broke above the 80 mark again. The charts below show what things looked like when the Dollar Index rose sharply and gold fell in 2008 from March...
read moreDid Dennis Gartman Sell His Gold?
My first response to this question, is…”who cares?” I listened to Dennis Gartman speak at a LPL financial conference a few years back and Dennis Gartman gave a speech about how he readily admits he is wrong 80% of the time. So while Gartman was on CNBC telling everyone he was selling his gold, he actually sold 1/4 of his gold holdings for the following reason; What he did was put those proceeds into the stock market. For reference purposes of those reading this email at a later date, the DOW at the time of his remarks was...
read moreIMF Gold Sales and Credit Expansion Maneuvers Show How Desparate Situation in Europe Is – Central Banks Step In
Central Banks stepped in today to help raise liquidity for the struggling Eurozone. The Central Banks involved included the U.S. Federal Reserve (of course), the European Central Bank, and the central banks of Japan, Britain, Canada and Switzerland. Hey…where’s China? It might also be noted that G20 leaders promised this month to boost the global lender’s (IMF) warchest. However, another G20 source said policymakers had made no progress since then in efforts to boost IMF resources, which at current levels may not be...
read moreJim Rogers Says Possible Gold Correction and Is Long Dollar
Jim Rogers, author of the book, Hot Commodities, came out today with a statement that gold is “due for a correction” and that he is long the U.S. dollar. This comment comes on the heels of what he said in September; “Gold price correction will last for several months.” Gold and Silver Correction I thought it might be appropriate to quote from Rogers book Hot Commodities where he wrote a section called “Warning! There Will Be Setbacks.” P. 26,27 I cannot promise a stairway to heaven. No bull market in any...
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