On Thursday, the initial jobless claims rocketed to almost 3.3 million. Quite an unimaginable number. What does it imply for the US economy and the gold market?One of the Most Scariest Things You Will See This WeekWould you like to see something scary? I guess not, but I'll show you anyway! But don’t worry: it will not be an microscope image of the coronavirus! Instead, I will present you a...Read More
MarkTwain said that history does not repeat itself, but it rhymes. It’s certainlytrue in both life and financial markets. Let’s explore how the recent historylessons apply to the precious metals.The2008 - Now LinkLet’s recount the similarities. We already had goldreversing on huge volume, and we saw it decline very strongly in the first weekafter the top. We already had another a...Read More
The historic action of the precious metals sector over the past few weeks has continued. The strong recovery in GDX, GDXJ, and Silver has potentially invalidated the technical breakdown that occurred during the crash. It appears to be a failed breakdown. Furthermore, Gold was looking vulnerable on the weekly, and monthly chart yet was able to slingshot back to $1700/oz. It is currently up $88/oz o...Read More
"#Vancouver doesn't get it! Looking to spike the curve on #covid19?Lots of people out walking/biking on the #seawall. Little social distancing. #closetheseawall #stayathome@cbcnewsbc @DailyHiveVan @ParkBoard @CityofVancouver @GlobalBC @adriandix"Read full newsRead More
On a global scale, work is grinding to a halt and mines are being placed on temporary care and maintenance.Read full newsRead More
Forget gold coins. These companies are better opportunities for gold-hungry investors.Read full newsRead More
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Yanomami community. (Image courtesy of the Socioenvironmental Working Group of the Wataniba Amazon) Five NGOs that work for Indigenous rights in Venezuela issued a statement asking authorities to take immediate action against illegal miners operating in the Venezuelan and Brazilian Amazon, as they are likely to spread covid-19 in the region.Endorsed by the organizations Orpia, Oipus, Kuyunu, Omid...Read More
Zinc8 lab. (Image courtesy of Zinc8 Energy Solutions) Canadian company Zinc8 Energy Solutions is staying its course and continues to work on a demonstration project to deploy a 100 kW/1 MWh energy storage system to a site in New York state. This, despite the fact that the eastern US state has been massively affected by the covid-19 pandemic, with almost 200,000 people infected and close to 9,000...Read More
Gold ribbon. (Image by Dawn Hudson, Public domain pictures, CC0). An international group of researchers published a study in Proceedings of the National Academy of Sciences where they present evidence of the existence of Majorana fermions -particles that are theorized to also be their own antiparticle- on the surface of a gold object.According to the scientists, this is a major step toward isolat...Read More
Chris MarcheseChief Mining Analyst, GoldSeek & SilverSeekWeek Ended April-10, 2020 $BTG, $CXB.TO, $DPM.TO, $EXK, $EGO, $FNV, $WPM, $OR, $SAND, $RGLD, $GFG.V, $GBR.V, $GPL, $HL, $KL, $KORE.V, $KNT.V, $MOZ.TO, $PG.TO, $AUY, $CG.TO It's looking the suspension of mining activities have tapered off for the time being, though the mining industry has already been severely impacted. Approximately 5...Read More
Dave KranzlerThe CME/LBMA latest paper derivative product - the Accumulated Certificate of Exchange aka "4GC" - is failing. Badly. After its introduction last week there has been zero trade activity in the contract: 4GC Settlement data. The contract fabricates a paper claim on 25% of an LBMA 400 oz bar for Comex participants seeking delivery of the 100 oz Comex bar. It's an attempt to tr...Read More
The title of Leo Tolstoy's massive tome, War and Peace, which many have heard of but few have read, implies a cyclical alternation between these conditions, which never ends, no matter how great the level of technological advance, because of the nature of men, which does not change.It is the same with the great economic cycles which alternate between boom and bust. Once a parasitic overclass gai...Read More
Chris MarcheseChief Mining Analyst, GoldSeek & SilverSeekWeek Ended April-10, 2020 $BTG, $CXB.TO, $DPM.TO, $EXK, $EGO, $FNV, $WPM, $OR, $SAND, $RGLD, $GFG.V, $GBR.V, $GPL, $HL, $KL, $KORE.V, $KNT.V, $MOZ.TO, $PG.TO, $AUY, $CG.TO It's looking the suspension of mining activities have tapered off for the time being, though the mining industry has already been severely impacted. Approximately 5...Read More
Dave KranzlerThe CME/LBMA latest paper derivative product - the Accumulated Certificate of Exchange aka "4GC" - is failing. Badly. After its introduction last week there has been zero trade activity in the contract: 4GC Settlement data. The contract fabricates a paper claim on 25% of an LBMA 400 oz bar for Comex participants seeking delivery of the 100 oz Comex bar. It's an attempt to tr...Read More
Preventing DepressionMonetary and Fiscal Policy: Where We Are TodayInflation Is Always and Everywhere a Function of DemandThe Utter Travesty of UnemploymentThinking of the Enormity of It All"Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output. ... A steady rate of monetary gr...Read More
Even as the coronavirus cases in the U.S. grew, President Trump just kept on saying everything was fine.Read More
Chris MarcheseChief Mining Analyst, GoldSeek & SilverSeekWeek Ended April-10, 2020 $BTG, $CXB.TO, $DPM.TO, $EXK, $EGO, $FNV, $WPM, $OR, $SAND, $RGLD, $GFG.V, $GBR.V, $GPL, $HL, $KL, $KORE.V, $KNT.V, $MOZ.TO, $PG.TO, $AUY, $CG.TO It's looking the suspension of mining activities have tapered off for the time being, though the mining industry has already been severely impacted. Approximately 5...Read More
Dave KranzlerThe CME/LBMA latest paper derivative product - the Accumulated Certificate of Exchange aka "4GC" - is failing. Badly. After its introduction last week there has been zero trade activity in the contract: 4GC Settlement data. The contract fabricates a paper claim on 25% of an LBMA 400 oz bar for Comex participants seeking delivery of the 100 oz Comex bar. It's an attempt to tr...Read More
Have you read Ayn Rand’s novel Atlas Shrugged? The main theme of the book is that – overwhelmed by growing statism – entrepreneurs at one point say finally “basta!” and announce a strike. The symbolic Atlas who carries the world, shrugs. As a result, the economy collapses, plunging the world into chaos. This what we are observing right now – the only difference...Read More