Anthony Ward, famed London commodities trader, closed shop after nearly forty years of trading. His reason: he couldn’t keep up with computer trading. According to Reuters, Ward blamed the rise of computer-driven funds and high-frequency trading. Other well-known commodities investors also threw in the towel. They are now looking for opportunities where machines can’t make
I noted the correlation between gold ETFs buying or selling gold and the price of gold In my January 10, 2018 post ETFs, central banks buy gold in 2017; sign of higher prices?. The correlation is eerie. Now, Adam Hamilton, a longtime prolific contributor to Gold-Eagle.com, has written a valuable article, Radical Gold Underinvestment, about
John Scurci, Corona Capital Partner and Chief Investment Officer, is bullish on gold for 2018. One of his reasons is the ratio of the price of gold to stocks. He asserts that stocks are punching out new highs because of the money-printing orgy that the world’s central banks have gone on since 2008. Not coincidentally,
The dollar sank 11.7% over the last twelve months, and gold climbed 10%. The dollar is measured against a basket of non-redeemable paper currencies, the euro (57.6%), the yen (13.6%), pound sterling (11.9%), Canadian dollar (9.1%), Swedish krona (4.2%) and the Swiss franc (3.6%). Only a few decades ago currencies were measured against gold. For
Worldwide, gold ETFs (Exchange Traded Funds) increased their holdings 8.4% in 2017. Collectively, they now own 2,363 tons, having added 197.5 tons for the year. By comparison, the U.S. Treasury claims to own the world’s largest horde of gold at 8,133.5 tons; Germany, second place, claims 3,373.6 tons. Since 2003, only in 2009 did ETFs
Recently a client wrote: “In 2004, I started buying gold and silver because of increasing US debt, thinking that inflation would come about and the dollar would suffer. Now David Stockman (former Budget Director under Ronald Reagan) forecasts imminent doom for the stock and the bond markets. And, I agree that it will most likely
Marc Faber, famed investment advisor, fund manager and publisher of The Gloom, Boom & Doom Report, noted in his October 2017 issue that the Fed’s announcement about implementing quantitative tightening has depressed precious metals and mining stocks. He then added, “I shall use the current weakness to increase my position in physical precious metals.”
The North Koreans are now believed to have developed a hydrogen bomb, hundreds or even thousands of times more powerful than the atomic bombs dropped on Hiroshima and Nagasaki. Further, North Korea has exhibited the capability to launch intercontinental ballistic missiles, which could deliver their bombs.
Last week Germany’s central bank pompously announced that it had completed its repatriation of $31 billion in gold from Paris and New York, ridiculing earlier speculation that the gold had somehow been compromised. A widely circulated theory was that Germany’s gold had been borrowed by bullion houses and delivered against futures contracts that were sold
Famed investor Jim Rogers recently granted a video interview to a Singapore gold dealer. The video, less than 15 minutes, is worth the time as Rogers is one of the few well-known billionaires who publicly advocates owning gold (although the number is increasing).