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So I think now of all times this is a good time to have a large allocation to metals, really for the first time in many years. — Jared Dilllian, The Daily Dirtnap, August 1, 2018.
The history of paper money is that it is printed until it is worthless. The Zimbabwe dollar is the perfect example.
. . . so writes Ben St. Clair in a recent issue of The Wall Street Journal. The essence of St. Clair’s argument is that gold is down 4% this year and that lower prices have not generated buying. But, has gold lost favor as a safe haven? No, and here is one reason why
“My precious metals positions are my largest positions, by far,” wrote Fred Hickey in his June High-Tech Strategist newsletter. Why would an analyst of high-tech stocks make his largest investment position be in gold? Because he is a bear on stocks, especially high-tech stocks, and because he recognizes a bubble when he sees one. Although
Last week, Switzerland’s government pension fund took delivery of its first physical gold under a new program of buying gold bars, which have to be stored in Switzerland. Previously, the fund used “swaps,” which were only window dressing and the gold involved in the swaps could be stored outside the country. More countries are starting
So far this year, gold has outperformed stocks, up 2.5%, about what the Dow Industrials are down, for a 5% difference. Still, gold’s performance this year has been disappointing to many investors considering the huge downside moves that stocks put in this year. For 2017, the S&P 500 gained 19.4%, the Nasdaq 28.2%, and the
According to news wire reports, gold’s $20 plus upside move today is part of a rush to safe havens. US Treasuries are up also, which means that yields are down. The blame, again according to reports, lies with the tariffs that Trump laid on Chinese imports. China fired back with tariffs of its own. Will
Millennials, It was astonishing that when Ron Paul dropped out of the 2012 presidential race many of his followers jumped to supporting Bernie Sanders, an avowed socialist. Ron Paul, of course, is a libertarian who rails against socialism in all forms.
Rather than endure another government shutdown, in the early hours of February 9, GOP and Dem Swamp Creatures joined hands and laid on the American people a budget-busting two-year agreement that will add $400 billion to the national debt. The deficit is now locked in at $1.2 trillion or 6% of GDP for fiscal year 2019. The
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
