Peter 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...
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...
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...
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...
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...
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...
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...
Read MoreDollar 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...
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...
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...
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...
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)...
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4 Ways Gold Dealers Rip You Off!
