Precious Metals

Sprott Money's picture

The Krugman Con





Gold’s biggest enemy is a brilliant Nobel Prize winning economist, university professor and columnist for the New York Times. Sadly, he is also a con man. 

 
Tyler Durden's picture

"Hawkish" FOMC Statement Confirms "Moderate" Domestic Growth, No Longer Focused "Abroad"





With a 4% probability, it is no surprise that The Fed did not raise rates. Since The FOMC "folded" in September blaming global turmoil, stocks, bonds, and precious metals have soared as China (and EM) chaos has calmed while domestic data has declined. This has led to 'lift-off' expectations extending to April 2016, and so the question today is - how will The Fed convince the world it 'will' raise rates when it really can't...

  • *FED REMOVES LINE THAT GLOBAL DEVELOPMENTS MAY RESTRAIN GROWTH
  • *FED SAYS U.S. ECONOMY `HAS BEEN EXPANDING AT A MODERATE PACE'

A definite hawkish bias but so we are left data-dependent (fundamentals bad, stocks good), and less economically optimistic, but are supposed to believe that December (34%) is still a live meeting (because of some hockey-stick expectation in data) because The Fed needs to raise to show that it can.

 
Tyler Durden's picture

As FOMC Looms, Silver & Gold Back Above Key Technical Level





With a 4.5% chance of rate hike priced into the markets at today's FOMC meeting, it is unlikely that anything exciting will happen today. However, with China outflows, BoJ easing expectations, and Draghi still promising moar, it appears precious metals are once again bid. Both Gold & Silver have broken back above their 200-day moving-averages this morning...

 
Sprott Money's picture

Deflation on the Horizon





For years, a rather pointless argument has been ongoing amongst economists - that of inflation vs. deflation.

 
Tyler Durden's picture

The Calm Before The Storm





Have you noticed that things have gotten eerily quiet in the month of October? For those that don’t want to believe that hard times are on the way, they can take comfort in the eerie period of calm that we are experiencing right now. What they don’t realize is that this truly is “the calm before the storm”, and the global economic crisis that is ahead of us is going to be far beyond what most people ever dared to imagine was possible.

 
Tyler Durden's picture

Futures Flat After Yen Carry Tremors As Fed Starts 2-Day Policy Meeting





Two biggest move overnight came from everyone's favorite carry pair, the USDJPY, which may have finally read what we said yesterday, namely that with the Fed and ECB both doing its job, there is little need for the Bank of Japan to repeat its Halloween massacre for the second year in a row, and as a result will keep its QQE program unchanged. It promptly tumbled from its 121 tractor level, to just above 120.25, where BOJ bids were said to be found. With the FOMC October meeting starting today, the other overnight catalyst was not surprisingly the latest Hilsenrath scribe in which he removed any uncertainty about a Wednesday hike, "leaving mid-December as the central bank’s last chance to raise rates this year."

 
Tyler Durden's picture

Overstock Holds 3 Months Of Food, $10 Million In Gold For Employees In Preparation For The Next Collapse





"What do we do as a business so that we would be prepared when the next crash happens. One thing that we do that is fairly unique: we have about $10 million in gold, mostly the small button-sized coins, that we keep outside of the banking system. We expect that when there is a financial crisis there will be a banking holiday. I don't know if it will be 2 days, or 2 weeks, or 2 months. We also happen to have three months of food supply for every employee that we can live on."

 
Tyler Durden's picture

Bitcoin Soars As China's Creeping Capital Controls Loom





Since China devalued the Yuan and surprised the world's carry traders (and central planners) by stirring up FX volatility, the demand for 'paper' gold has begun converging to the demand for physical precious metals. Gold prices are now up over $100 since August 10th, but it is another (easier to 'transport') alternative currency that has soared. Bitcoin has spike post-China-devaluation (since dipping on 'governance' concerns), accelerating from under $200 to almost $300 today, and up 25% since our September 2 explanation why China's capital account crackdown is "great news" for bitcoin.

 
GoldCore's picture

Gold Q&A With John Butler - How To Allocate, Dollar Cost Average, Rebalance and Store Where?





Butler believes that since the end of the Bretton Woods monetary system, there is a strong case for having higher allocations to physical gold. He warns of the risk inherent in gold ETFs due to the levels of legal indemnifications.

 
Sprott Money's picture

Global Wealth Continues to Shift, 25% of the Western World is Broke





Consumer debt culture has completely and utterly taken over the West.

 
Tyler Durden's picture

What Your High School Chemistry Teacher Never Taught You About Gold





The ‘money’ in your account doesn’t even really exist. There’s just enough of a thin layer of confidence in the system (at the moment) that this is a widely accepted practice. It seems rather strange when you think about it. Though for thousands of years, early civilizations had some pretty wild ideas about money. There are examples from history of our ancestors using everything from animals skins, to salt, to giant stones, as their form of ‘money’. Though we suppose these weren’t any more ridiculous than our version of money - pieces of paper that don’t even really exist, controlled by unelected central bankers.

 
GoldCore's picture

Gold Is Long Term Inflation Hedge - Leading Academic Expert





Gold can be useful as a hedge against inflation but it's been consistently so only in the long run.

 
Tyler Durden's picture

Futures Firm On Hope Draghi Will Give Green Light To BTFD





After yesterday's dramatic late day market rout catalyzed by the tumble in the biotech sector in general, and Valeant in particular, and foreseen in its entirety by Gartman who went bullish just hours before, this morning US equity futures and European stocks have recouped some losses on the recursive, and traditional, hope that Mario Draghi will say something to push risk higher when he speaks in 2 hours at the ECB's press conference in Malta. And yet, just like Yellen a month ago, Draghi faces the paradox of reflexivity that after years of being ignored, is the "new thing" in town: how does he intervene and demonstrate he is readier than ever to set up stimulus, without panicking investors over euro area’s health.

 
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