Fed Chair Janet Yellen’s July proclamation that “the case for an increase in the federal funds rate has strengthened,” was nullified by a weaker than expected August jobs report. Only 151,000 jobs were added, short of the 180,000 forecast by economists and far short of the 275,000 added in July.
A telemarketing firm recently began promoting 1-1/2 oz Snow Falcon silver coins, minted by the Royal Canadian Mint. We advise our clients to stay away from any silver bullion coins larger than one ounce. Not only would 1-1/2 oz silver coins not be practical if the need ever came to use them as money, but
Recent collapsing stock prices did not result in significantly higher metals prices, primarily because investors fled stocks not just in the US but around the world. Following conventional thinking, investors plowed into dollars via short-term US treasuries, which made the dollar stronger versus other currencies.
A great uproar was heard when the US Mint temporarily suspended sales of its 1-oz Silver Eagles, the world’s most popular government-issued 1-oz silver coins. The biggest outcry came from people who could not comprehend why the price of silver went down while the Mint admitted it could not meet demand. It’s not hard to
In the scheme of things, Greece’s problems are small potatoes compared with China’s. What makes the possibility of a Grexit (Greece exit from the Eurozone) significant is that it would call into question the concept of a unified Europe. If Greece exits, what about Portugal, Spain and Italy, which are also struggling with massive debt?
August 14, the 117-year old London silver fix will be no more. The fix, which now is set by HSBC, Scotia-bank and Deutsche Bank, has been deemed no longer viable because Deutsche is dropping out and cannot find a buyer for its seat on the fixing body. Critics of the fixing process have for decades
For more than a decade, GATA and others have asserted that the gold and silver markets are being manipulated, offering circumstantial evidence that manipulations are real. Now comes more solid circumstantial evidence that support GATA’s assertions.
As has been noted on this blog over the last three years, physical gold and silver are “moving east,” that is, going to Asia. To further support this position, a Singapore retailer of coins and bars announced the opening a 600-ton silver vault, with capacity to hold $390 million in silver at current prices. This
In May, I presented what appeared to be an extremely bullish divergence between the price of silver and its Accumulation-Distribution Line (ADL). I asked whether the price of silver would rise to meet its ADL or would the ADL fall to match the price? Two and a half months later, there has been absolutely no resolution to this situation. The divergence remains, and if anything, has actually increased slightly.
Precious metals investors are clearly on the sidelines as prices have suffered severe declines in the past few months. Now, though, that are indicators that prices have bottomed. Analysis of the COT Report suggest that the Large Commercials (LCs) are not position for lower prices, which may indicate that a bottom is being put in.