Rick Rule talked with David Lin of Kitco News at the Vancouver Resource Investment Conference. Rule is the senior managing director at Sprott Inc., and he’s bullish on gold. During this discussion, Rule explains why, touching on a range of subjects including the Federal Reserve, the trade war, the US dollar, the bond market and more.
To kick off the interview, Lin points out that gold has been rather range-bound since the price spiked in the wake of tensions in the Middle East. Rule said this is a sign of a healthy gold bull market.
It’s like Dawn of the Dead on Wall Street. Zombies are everywhere.
Even as stocks continue to push to new highs, the number of money-losing companies listed on US stock markets has ballooned to levels not seen since the dot-com bubble of the late 1990s.
According to a recent Wall Street Journal article, nearly 40% of US-listed companies are losing money.
Peter Schiff has been saying the Federal Reserve is going to let the inflation monster loose and this is going to be good for gold. Some people in the mainstream are starting to pick up on this theme.
During a recent interview with the Financial Times, Bridgewater Associates co-chief investment officer Greg Jensen said gold could surge over $2,000 as central banks embrace higher levels of inflation.
Donald Trump and Chinese Vice Premier Liu inked their signatures on the Phase 1 trade deal this week. But was it really a big deal? Or was it no deal? Mike Maharrey talks about it on this week’s Friday Gold Wrap podcast. He also talks about why the gold market seems to be holding steady despite some strong headwinds and the outlook for the yellow metal in 2020.
A week ago, nearly $100 billion in short-term liquidity was added via the Federal Reserve Bank of New York offering cash in the repo market.
As a reminder, the repo market is the overnight market of repurchase agreements. This is where one sells an asset with an agreement to purchase it back at a slightly higher price the next day. In other words, very short term collateralized lending.
We have a trade deal! Maybe. Meanwhile, the Fed wrapped up its last FOMC meeting of the year this week and did nothing. But Powell and Company did give us some indication about what we should expect next year. The week’s news played tug-o-war with gold. In this episode of the Friday Gold Wrap, host Mike Maharrey breaks it all down and says there’s a lot to be skeptical about, both with the trade deal and the rhetoric coming out of the Fed.
The Federal Reserve wrapped up its final Federal Open Market Committee meeting of 2019 on Wednesday doing pretty much what was expected — nothing. But in the processing of doing nothing, the central bank said a lot and managed to out-dove expectations.
After cutting interest rates three times in 2019, the FOMC stood pat during its final meeting of the year, holding the interest rate steady at 1.5%.
Stocks have pushed to record highs in recent weeks. If you read the headlines, you’d think it was all about optimism for a trade deal. Or maybe just some general bullishness on the US economy. But Peter Schiff has said that’s not the real reason stocks have continued to climb. In fact, there are a lot of things that should be causing them to go down, but only one thing causing them to go up — the Federal Reserve.
We’ve seen new records in the stock market in recent weeks. The headlines tell us it’s all because of a potential trade deal, but Friday Gold Wrap host Mike Maharrey doesn’t buy it. He says it’s really all about Fed money printing. That may juice the stock market, but there’s a downside – inflation. In this episode of the podcast, Mike talks about it along with the week’s gold news.
The Dow Jones was down over 280 points yesterday, marking the third straight day of declines. Sudden pessimism about a trade deal has tanked stocks. In his latest podcast, Peter Schiff talked about it.
Typically, December is a strong month for stocks with the so-called “Santa Claus rally.” Peter said maybe the Grinch is going to steal that rally this year.
