European stocks opened higher Wednesday, while Wall Street futures edged into positive territory after a softer session in Asia as investors grow increasingly concerned over the prospects of a global trade war following the firing of Rex Tillerson as U.S. Secretary of State and reports of new tariffs targeted specifically at China. Early indications from U.S. equity futures suggest a h...Read More
Is bitcoin a new stock market indicator?It would seem the one has nothing to do with the other.What is bitcoin’s P/E ratio?It has none.Its earnings per share?There aren’t any.Is its corporate management on the ball?It has no corporate management to speak of.As well compare apple to orange... fish to fowl... Paris, Texas, to Paris,France.But according to the Wall Street Journal:Investor...Read More
Buried far down on page 21 of the 2014 Berkshire Hathaway annual shareholder letter was an important warning from Warren Buffett:"Local and state financial problems are accelerating, in large part because public entities promised pensions they couldn't afford."Citizens and public officials typically under-appreciated the gigantic financial tapeworm that was born when promises were made that confli...Read More
“Put your money where your mouth is!”That’s what my brother said to me when I challenged him to a March Madness basketball contest.Each year, we fill out a bracket for the big basketball tournament that kicks off tonight. And the winner gets bragging rights for the next year.Since I’m not much of a gambler, we’ll stick with our traditional one-dollar bet.But with that...Read More
CloseGain/LossGold $1316.50-$8.70Silver$16.39-$0.16XAU78.81-1.23%HUI171.57-1.50%GDM600.49-1.22%JSE Gold1067.94-9.34USD90.15+0.41Euro123.05-0.62Yen94.11-0.03Oil$61.19+$0.2310-Year2.825%+0.008T-Bond145.96875+0.09375Dow24873.66+0.47%Nasdaq7481.74-0.20%S&P2747.33-0.08% The Metals: Gold edged up to $1327.90 in Asia before it dropped back to $1315.00 in midafternoon New York tr...Read More
For a while there it looked like the blow-off top of this expansion was somewhere in the future. Now it's starting to look like 2017 was as good as it's going to get - with serious implications for stocks, bonds and real estate. At least that's what interest rates now seem to imply. From today's Wall Street Journal: Yield Curve Once Again Sends Dour Signal on EconomyA bond market barometer that...Read More
Who will win: bulls or bears? The LBMA published its annual forecast survey for precious metals prices in 2018. Gold prices range from $1,120 to $1,510. Where is the price of the yellow metal headed? Summary of the SurveyThe views of about 30 analysts in the 2018 forecasts are strongly divergent. The average price of gold is projected to be $1,318, so it is expected to be around the current lev...Read More
By Michael J. KosaresGold is trading lower this morning and most media reports attribute the weakness to next week's Federal Reserve Open Market Committee meeting. At that meeting, as we have heard endlessly, the Fed is scheduled to raise interest rates by a quarter of a point, and rising interest rates are bad for gold.But are they? Paul Farrugia of First Macro Capital put together a fairly d...Read More
By Frank HolmesAs our loyal readers know, at U.S. Global Investors we carefully monitor the price of gold. We pay close attention to the macro drivers moving the yellow metal, like government policy and cultural affinity spurring demand globally. We also monitor the micro drivers, like company management and quant factors that make one gold stock superior to the next.Gold's qualities make it one...Read More
CloseGain/LossGold $1316.50-$8.70Silver$16.39-$0.16XAU78.81-1.23%HUI171.57-1.50%GDM600.49-1.22%JSE Gold1067.94-9.34USD90.15+0.41Euro123.05-0.62Yen94.11-0.03Oil$61.19+$0.2310-Year2.825%+0.008T-Bond145.96875+0.09375Dow24873.66+0.47%Nasdaq7481.74-0.20%S&P2747.33-0.08% The Metals: Gold edged up to $1327.90 in Asia before it dropped back to $1315.00 in midafternoon New York tr...Read More
Who will win: bulls or bears? The LBMA published its annual forecast survey for precious metals prices in 2018. Gold prices range from $1,120 to $1,510. Where is the price of the yellow metal headed?Summary of the SurveyThe views of about 30 analysts in the 2018 forecasts are strongly divergent. The average price of gold is projected to be $1,318, so it is expected to be around the current level,...Read More
By RambusIf you've been following me for any length of time you know I've been a major bull when it comes to the stock markets. The last two years were some of the best years to be a bull in one of the greatest bull markets of all time and I don't say that lightly.A little over a month ago we got our first correction of 12% in over two years on the SPX. Everyday the SPX would be up four or five...Read More
The Russia-Britain spat needs to be closely watched. Any deterioration of relations between the two nations will be bullish for gold and bearish for the US dollar. Theresa May is using Russia as a way to divert attention from her political woes and Brexit fears. All international treaties and conventions have been broken by the UK over the killing of an ex spy. I am not even sure whether the UK...Read More
Breakthrough Sound Money Bill Becomes Law Todaywith Wide SupportCheyenne, Wyoming (March 14, 2018) – Sound money activists rejoiced as theWyoming Legal Tender Act became law today. The bill restores constitutional,sound money in Wyoming.Backed by the Sound Money Defense League, Campaign forLiberty, Money Metals Exchange, and in-state grassrootsactivists, HB 103 removes all for...Read More
Gold is trading lower this morning and most media reports attribute the weakness to next week's Federal Reserve Open Market Committee meeting. At that meeting, as we have heard endlessly, the Fed is scheduled to raise interest rates by a quarter of a point, and rising interest rates are bad for gold.But are they? Paul Farrugia of First Macro Capital put together a fairly detailed analysis of the...Read More
The insanity of Central Bankers knows no bounds.The latest indication of just how far "down the rabbit hole" the financial world has gone comes from Japan where it was announced that the Bank of Japan bought 75% of Japanese Government Debt issuance in FY17.That is not a typo. Japan's Central Bank bought $3 out of every $4 in debt Japan issued in fiscal year 2017. And it now owns 40% of Japan's tot...Read More
Gold is trading lower this morning and most media reports attribute the weakness to next week's Federal Reserve Open Market Committee meeting. At that meeting, as we have heard endlessly, the Fed is scheduled to raise interest rates by a quarter of a point, and rising interest rates are bad for gold.But are they? Paul Farrugia of First Macro Capital put together a fairly detailed analysis of the...Read More
– Gold Cup at Cheltenham – ‘The Olympics’ of the European horse racing calendar – Gold Cup trophy contains 10 troy ounces of gold – worth £9,000– £620 million bets on horses, 230,000 pints of Guinness will be drunk, 9.2 tonnes of potato eaten – Since the 5th century BC, gold has been the ultimate prize...Read More
CloseGain/LossGold $1316.50-$8.70Silver$16.39-$0.16XAU78.81-1.23%HUI171.57-1.50%GDM600.49-1.22%JSE Gold1067.94-9.34USD90.15+0.41Euro123.05-0.62Yen94.11-0.03Oil$61.19+$0.2310-Year2.825%+0.008T-Bond145.96875+0.09375Dow24873.66+0.47%Nasdaq7481.74-0.20%S&P2747.33-0.08% The Metals: Gold edged up to $1327.90 in Asia before it dropped back to $1315.00 in midafternoon New York tr...Read More