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Key Gold Headlines

POSTED ON December 14, 2017  - POSTED IN Key Gold Headlines

The last few weeks have been tough on gold. If you have a short-term mentality, you might even think the gold market has gone bearish. But as World Gold Council chief market strategist John Reade pointed out in a piece he wrote for the December issue of WGC Gold Investor, 2017 has been good for gold. And he sees some key reasons to believe 2018 will be as well.

POSTED ON December 14, 2017  - POSTED IN Key Gold Headlines

The December Federal Open Market Committee meeting went pretty much according to scrip.

Analysts widely expected the Fed to raise rates by .25. It did. Analysts also expected the Fed to signal three more hikes in 2018. It did that too.

Gold went up, as we said it probably would, hitting a one-week high in the wake of the rate hike as investors “bought the fact.”

POSTED ON December 12, 2017  - POSTED IN Key Gold Headlines

Bitcoin mania is in full force.

When I get to my desk in the morning, the first thing I do is check the latest gold news. But lately, when I google the word “gold,” I mostly get Bitcoin news. In his most recent podcast, Peter Schiff even suggested CNBC should rename its network the “Crypto News Bitcoin Network.”

Many analysts have suggested Bitcoin is replacing gold. In fact, an article on CoinTelegraph reported that some investors are actually dumping their yellow metal in favor of Bitcoin. During a recent interview on CNBC. RJO Futures’ Phillip Streible declared that “Bitcoin has stolen a large market share of gold.” There is at least some anecdotal evidence backing this up.

POSTED ON December 12, 2017  - POSTED IN Key Gold Headlines

Every year, the Federal Reserve robs you of a little bit of your wealth.

And it does so by design.

Writing for the Sovereign Man, Jeff Thomas called it a “magic trick.” But it’s not magic in a mystical way. It’s magic in the show business sense of the word.  It’s an illusion, facilitated by distraction that fools the audience. As a result, we all miss what’s actually happening.

POSTED ON December 11, 2017  - POSTED IN Key Gold Headlines

President Trump has completely flip-flopped the way he looks at economic data. When he was on the campaign trail, he called the stock market a “big, fat, ugly bubble.” Now that he’s sitting in the Oval Office, he takes credit for the same bubble.

He’s done the same kind of 180 when it comes to employment data. On the campaign trail, he called 5% unemployment “the biggest hoax in American history.” But when the jobs report came out last week, Trump eagerly tweeted,  “The unemployment rate remains at a 17-year low of 4.1%. The unemployment rate in manufacturing dropped to 2.6%, the lowest ever recorded. The unemployment rate among Hispanics dropped to 4.7%, the lowest ever recorded…”

Peter Schiff called Trump out on his flip-flop in his most recent podcast.

POSTED ON December 8, 2017  - POSTED IN Key Gold Headlines

The US national debt stands at over $21 trillion and neither political party in Washington D.C. seems inclined to do anything about it. In fact, the GOP tax plan winding its way through the political process will add an estimated $1.5 trillion more to the debt over the next decade. And that doesn’t even account for the increases in spending that Congress will certainly approve over that timespan.

Of course, all of this government debt has serious ramifications. Corporations are also piling on credit. Last month, Mint Capital strategist Bill Blain predicted that “the great crash of 2018 is going to start in the deeper, darker depths of the credit market.”

Now consider this. China has an even bigger debt problem than the US, and analysts say it could threaten global financial security.

POSTED ON December 7, 2017  - POSTED IN Key Gold Headlines

When I was a kid, my mom always went shopping on the day after Christmas. She wasn’t going out to spend her Christmas cash on some goody Santa failed to leave under the tree. She went out with the express purposes of buying Christmas cards, wrapping paper and decorations.

But why go out and buy Christmas items the day after Christmas? After all, you’re not going to need that stuff for about 11 months.

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