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Dollar Still Rising and US Treasuries Still Strong While Gold Falters
The US Dollar made it up over the 79 mark today and moving closer and closer to breaking 80 on its way to the 85 range. Thank you Europe! (Click on image for sharper view) This rise in the dollar can put pressure still on gold and silver prices despite all the problems going on in Europe. It’s a thought process I shared just last week when gold was at $1,780.90 and silver $34.28 with the U.S. dollar index sitting at 77.53. Today we have gold under $1,690 and silver at $31.77. Mass psychology has seen an increased demand for the...
read moreEuro Fall and Dollar Rise Will Put Pressure On Gold and Silver Prices
Richard Russell of Dow Theory Letters fame repeats what I have been saying about the Euro, U.S. dollar and gold of late. I see the Euro fall and Dollar rise as a short term event that can put pressure on gold and silver prices moving forward. I still see $1,800 and $35 as a resistance point for gold and silver. Russell has been writing Dow Theory Letters for over 40 years and is well respected in the industry. He is the reason I started selling gold and silver to begin with in helping people understand what’s really going on in the...
read more4 Ways Gold Dealers Rip You Off – Bait and switch tactics gold dealers use
4 Ways Gold Dealers Rip You Off Bait and switch tactics gold dealers use San Diego, Nov. 4, 2011/Buy Gold and Silver Safely/- Countless investors are paying 30% or more in commissions when gold dealers bait and switch them from buying bullion gold to buying rare or semi-numismatic coins. In today’s tough economic times, you really have to be careful with your investment portfolio. Don’t get ripped off when buying gold. Learn: * Confiscation; Fact or Fiction? * Why Gold Dealers Push European Coins * Are First Strike & Early Release...
read moreFalling Gold and Silver Prices Being Driven By Market Makers and Traders Not Fundamentals Part 3
Continued from Part 2 Banking System Similarities Just look at the banks that lend out multiples of their deposits. Once the 2008 financial crisis hit (actually well before this), the bad loans started to hit the banks. The banks don’t have enough cash on hand to cover the write-down on the assets, so they got the Financial Accounting Standards Board (FASB) to give them permission to mark to fantasy (2006/2007) values the real estate they have on the books instead of marking the properties to market price (today’s values)....
read moreFalling Gold and Silver Prices Being Driven By Market Makers and Traders Not Fundamentals Part 2
Continued from Part 1 What Does All This Have To Do With Gold and Silver Prices? Most people know that trading in stocks or ETFs is not the same as trading in the actual physical metal, at least for the retail investor. But the big boys get to play the physical metals in the Over The Counter (OTC) market. From WIKI: Internationally, gold is traded primarily via over-the-counter (OTC) transactions with limited amounts trading on the New York Mercantile Exchange (NYMEX) and Tokyo Commodity Exchange (TOCOM). These forward contracts are...
read moreFalling Gold and Silver Prices Being Driven By Market Makers and Traders Not Fundamentals Part 1
Every time we get a run up in the price of gold and silver of late, we seem to get it pushed right back down again like today when we see falling gold and silver prices. Sure, news of what’s going on in Europe or Japan can have some short term effects on the price of gold and silver, or even the movement of the Dollar Index, but some of the time the fall in the price of gold and silver has nothing to do with news at all. While a fall in the price of gold or silver is a cause for concern for some people it isn’t for me. Not because...
read moreCongress Gives IMF Your Tax Dollars to Bailout Greece
This was an article I wrote about Greece and how they exactly are being bailed out by the IMF/U.S. taxpayer. Back then, the debt in the U.S. was just over $12 trillion. Today, the debt in the U.S. is approaching $15 trillion. Greece is now in the process of writing down their debt by 50% by the beginning of 2012. And now because of this perception that Greece has somehow solved its problems (and of course no consideration for the remaining PIIGS and their debt issues), the Euro is now above 1.40 and the dollar has fallen to just over 75 on the...
read moreOn and On – The Fed Keeps On Failing
Whether it’s Bernanke and Geithner, today or Greenspan and Snow of years past, the Fed will always do what they do best, interfere in the markets. But how effective are they? Author’s Note: Seeking Alpha, a financial website, did not allow this article to be posted on their site. They claim they are not biased against gold, but their editors compared gold to “wine, stamps, rare coins and baseball cards.” I have lost all respect for Seeking Alpha and their editors and will not be posting there any longer. The Federal...
read morePhysical Gold or Silver – Which Metal Is A Better Investment Today?
Recently I was quoted in an article for Fox Business called; The Lowdown on Buying and Selling Silver. In this article I was quoted as recommending a 75% allocation to physical gold and a 25% allocation to physical silver for investors who are looking to insure their U.S. dollar risk of their porfolios. This diversification I first recommended when I wrote my book Buy Gold and Silver Safely September 2010. Have things changed since I first wrote the book? Does this same allocation hold true today having seen this recent pullback in the...
read moreFox Business Quoted Me in Article – The Lowdown on Buying and Selling Silver
Fox Business writer Michael Estrin wrote an article yesterday for the Personal Finance section, The Lowdown on Buying and Selling Silver, in which he quoted me saying how silver, like gold, is known as money and can be used as a hedge against economic uncertainty. Below is the section I was quoted (at the end of the article). An Invaluable Hedge While many investors view silver as a solid way to diversify a portfolio’s asset allocation, some investors view silver and other precious metals as an invaluable hedge against an...
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4 Ways Gold Dealers Rip You Off!
