Reuters (via MSN), Released on 1/17/23Microsoft Corp plans to cut thousands of jobs with some roles expected to be eliminated in human resources and engineering divisions, accordingContinue... Microsoft to cut thousands of jobs across divisions added by Herman James on 01/17/2023View all posts by Herman James ?+'Read More
DoubleLine Capital - Twitter, Released on 1/17/23Gundlach: M2 leads the inflation rate. Now M2 has crashed and has hit the lowest level since 1970. This suggests perhaps a sub-2% inflation rate is coming our way - if the Fed continues to work aggressively. pic.twitter.com/NGIymgAixc- DoubleLine Capital (@DLineCap) January 11, 2023 Jeffrey Gundlach: This suggests perhaps a sub-2% inflation rate is...Read More
OilPrice.com, Released on 1/17/23"There are no issues with discussing how we settle our trade arrangements, whether it is in the US dollar, whether it is the euro, whether it is the Saudi riyal," Al-Jadaan told Bloomberg TV.Continue... Saudi Arabia says they are open to settling trade in currencies other than the US dollar added by Herman James on 01/17/2023View all posts by Herman James ?+'Read More
Michael Ballanger of GGM Advisory Inc. reviews the current state of the U.S. dollar to tell you where he believes it is heading.It was only a few months ago that the world witnessed an event in the Middle East that can only be classified as a "watershed event." For the first time since Chevron first discovered oil in the Dhahran, Saudi Arabia, a world leader not belonging to the U.S.-dominated NAT...Read More
Adrian Day of Adrian Day Asset Management reviews preliminary 2022 results from a couple of gold royalty companies and updates us on the ongoing saga in Panama.Osisko Gold Royalties Ltd. (OR:TSX; OR:NYSE) reported preliminary fourth quarter results, saying it received just over 25,000 gold equivalent ounces ("GEOs"), above expectations, leading to a record quarterly cash margin of CA$57.2 million,...Read More
LONDON, 15 January 2023 - UK industry magazine Jewellery Outlook today quotes BullionVault data on the potential path ahead for gold prices this year.Citing BullionVault's survey of its customers' New Year 2023 outlook, "They predict the gold price will surge back up to its historical highs above $2,000 per ounce," says the report from specialist jewellery trade journalist David Brough.Read his fu...Read More
LONDON, 10 January 2023 - Data and analysis from BullionVault today features at Germany's popular personal-finance site Das Investment."Because of the Ukraine war and high inflation, Bullionvault users want to continue investing in precious metals this year," says the report, quoting results and forecasts from the London-based fintech's latest customer survey.Read the full story, in German, at Das...Read More
Back in October we began to plan the prospect of a relief rally that would be fueled by over-bearish sentiment (contrary bullish), ‘Fed hawk’ relief as we anticipated inflation signals to ease, and a post (mid-term) election seasonal pattern that is bullish for stocks. This public article had a lot to say about that on November 10th:Q4-Q1 plan engages For the purposes of this week&rsqu...Read More
Gold has powered highersmartly over the past couple months, achieving big gains. But this gold buying is only starting,implying this young upleg still has a long way to run yet. Speculators’ gold-futures buying remainsmodest, while much-larger identifiable investment buying hasn’t even begun. Traders will have to increasingly chase gold’supside momentum to resto...Read More
Gold’s nasty divorce from the U.S. dollar was finalized in August 1971 when President Richard Nixon suspended any further convertibility of U.S. dollars into gold by non-U.S. citizens. That action removed any remaining links between the dollar and gold.Without convertibility, any official price for gold became meaningless. At that time, the official U.S. dollar price of gold was raised from...Read More
Gold started this year with a quickrally, but it was mostly erased. It’s still above its mid-2022 high, but willit stay there for much longer?IsIt All Bearish? The above chart features goldprices in terms of weekly candlesticks. As you can see, it justapproached its August high, and it’s trying to break above those highs onceagain. The previous attempts failed, so the question is whet...Read More
Fed officials flexed their muscles during the last FOMC meeting. Silver tripped and fell in response, but that didn’t last long – why?The hawkish force was strong with this FOMC! The minutes from the last meeting of the Committee in December offered almost no dovish signals. In particular, the document doesn’t mention anything about the Fed’s pivot. Actually, we can read th...Read More
The USD Index is a key driver of goldprices (apart from real interest rates). How much strength has it shownrecently?In yesterday’s analysis, I compared thecurrent situation in the precious metals to the one in stocks that we saw lastyear. It appears that the similarity remains up-to-date as gold is up intoday’s pre-market trading (at the moment of writing these words).As you may recal...Read More
Gold will rocket to $3,000 next year – at least that’s what Saxo Bank says. Does this prediction make any sense though?Did you hope gold would break finally $2,000 in 2023? What if I told you that gold is going to soar to at least $3,000? Have I gone mad? No; that’s not my forecast, I only summarize the Saxo Bank’s Outrageous Predictions for 2023.According to the publicatio...Read More
Here's how history rhymes in theprecious metals market and what we can glean from recent movements in gold,silver, and mining stocks.Historytends to repeat itself. Not to the letter, but in general. The reason is thatwhile economic circumstances change and technology advances, the decisions tobuy and sell are still mostly based on two key emotions: fear and greed. Theydon’t change, and once...Read More
Gold largely ignoredinflation raging out of control in 2022. Despite the first inflation super-spike since the 1970s, history’s ultimateinflation hedge disappointed. But that unsustainableanomaly driven by extreme Fed rate hikes catapulting the US dollar parabolicwon’t last. Inevitably prevailing goldprices will adjust much higher to reflect this red-hot inflation fuel...Read More
Precious metals markets are finishing out a choppy 2022 on an up note. A strong fourth quarter is pushing both gold and silver prices back up into positive territory for the year.The yellow metal got off to a hot start in 2022, reaching as high as $2,050 an ounce in March. But it suffered a severe pullback in the second and third quarters. A rising U.S. dollar exchange rate amid aggressive Federal...Read More
It was an especially intense year, and silver held on tight. If 2023 is even more intense than 2022, silver won’t have a choice but to rally.A lot has happened this year. Russia invaded Ukraine. North Korea fired off missile after missile. Latin America turned to the left. The United Kingdom lost a queen, gained a king, and saw three Prime Ministers in Downing Street. President Xi Jinping wa...Read More
While the statistics scream,investors, often blinded by emotions, do not hear them. However, since historyseems to rhyme, what do gold, silver, and mining stocks have in store for us?What a boring month!At least for those who monitor theperformance of junior mining stocks. It’s Dec. 29, and the monthly price changefor the GDXJ ETF is $0.15 (0.41%). That’s how much higher the GDXJ is no...Read More
Can gold's recent short-term rally beconsidered bullish, or can we expect a decline like in 2008?IsSilver Really Strong? Gold and silver are moving higher today,but nothing really changed despite that. Silver moved to its previous highs,while gold didn’t (chart courtesy of https://GoldPriceForecast.com). Yes, the silver price is onceagain outperforming on a very short-term basis, and it make...Read More