NEWS
Gold and silver market moving news, curated from the best of GoldSilver's team and around the web. Check back often for updates, or subscribe to get the highlights in your inbox.
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TOP NEWS This Is How Trade Wars Can Lead to Shooting Wars
Join Mike Maloney as he analyzes the massive unintended consequences caused by the current foray into trade wars and tariffs. You can watch Mike's previous warnings about these actions on this playlist.
2018 Gold Price Forecasts and Predictions from the Big Investment Banks
Big banks. No matter how you feel about them, they're linchpins of the financial system and they control vast amounts of capital. Here are a dozen investment banks and their gold price forecasts for 2018 and beyond.
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Gold Traders' Report - August 17, 2018
Gold charged higher, taking out its prior high to reach $1184.50, but was capped by resistance at $1185 - the up trendline from the 10/19/08 $682 low. Gold was $1184 bid at 4PM with a gain of $9.
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Bargain Hunters Fuel Physical Gold Demand Growth in India
"Physical gold demand in India regained momentum this week as jewelers stocked up after prices dipped to their lowest in over seven months, with lower prices attracting fresh buying and driving premiums higher in other major Asian hubs as well."
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Canadians Take Second, Third, and Fourth Mortgages to Cash Out of Housing Bubble
"Cash extraction at the peak of a long housing bubble, via multiple mortgages on the same property: Does that ring a bell?"
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Ted Butler: "The Next Silver Run To $50 (And Beyond)"
"Twice in the past the price of silver has risen in a short period to $50: in 1980 during the Hunt brothers manipulation and again three decades later in April 2011, when the price rose to nearly $50. Prior to the price run up in 2011, I wrote that a move to $50 was possible. Something that has happened twice before can certainly occur again."
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Rolls-Royce's Newest Version of the Silver Ghost Is Made With Real Silver
"Rolls-Royce says it incorporated visual elements from the original Ghost in the new four-door model. Most obvious is the car's silver paint scheme, with a hand-painted coachline that takes eight hours to apply and contains pure silver particles."
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Americans' Personal-Finance Sentiment Plummets by Most in 7 Years
"Buying conditions for large household durable goods slipped to the lowest level in almost 4 years, vehicle-buying views were the least favorable since 2013, and home-buying conditions were seen less favorably than any time in about 10 years. Current conditions gauge fell to 107.8 from 114.4 in July; 6.6-point drop is biggest since Aug. 2011."
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What Makes the Gold Standard so Powerful is Exactly Why Politicians Hate It so Much
The gold standard holds one enormous advantage over any proposed 'fedcoin' or potential central-government-issued crypto. It's simply impossible for anyone to create more gold, and changing the rules/total issuance/dilution when it comes to crypto will always be possible (in what would inevitably be called) "an emergency".
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Trump Seeks to End Quarterly Earnings Reporting, Move to Six-Month System
Public companies have long been forced to focus largely on super-short-term results, largely due to the fact that they have to announce those results to stock-price-vigilant shareholders every 90 days or so. A move to lengthen the mandatory reporting period would allow companies to start to focus more on longer-term goals.
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This $263,800 Safe Is the Ultimate in Home Gold Storage; GoldSilver Pro Storage Starts at $4/Month
For those of you with a quarter-million-dollar budget for home precious metals storage, Buben & Zorweg have built quite the lockbox. If you can live without a built-in humidor and stereo (and want something this safe can't provide -- the peace of mind that your wealth is safe and secure far away from you, your loved ones, and would-be thieves), GoldSilver professional global storage still starts at $4 per month.
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Deutsche Bank's Market Cap Down to $23B; Still Has $54T in Derivatives Exposure
How are all these derivatives connected? Nobody knows. What would happen if a single bad derivatives bet triggered another, then another, then another, and this entire tangled ball of "if, then" big-bank casino-prop-bet risk came undone at a speed too fast for any human being to react to? Nobody knows.
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Venezuela Drops 5 Zeros From All Prices; Changes Color, Denomination of Currency
When your national currency borders on worthless and you're firmly in the death-spiral phase of terminal inflation, no amount of sovereign sleight of hand can change that. This is the inevitable fate of all fiat currency, without exception, but that doesn't mean politicians won't try every trick in the book to convince you otherwise.
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When Bonds and the US Dollar Collapse, Gold Will Prove the True "Safe Haven"
Stock market investors tend to follow a relatively predictable order of "flight to safety" operations when seeking refuge from a crashing stock market: first bonds, then cash, then gold. Once the bond bubble pops and the USD is finally exposed for the ink-on-paper worthless IOU that it is, tremendous capital flows will seek the true, indestructible real value of gold.
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Gold Traders' Report - August 16, 2018
Later in the afternoon, US stocks trimmed some of their gains while the 10-year bond yield dipped to 2.87%. The DX faded to 96.60, but gold didn’t advance – and dipped to $1173.50. Gold was $1174 bid at 4PM with a loss of $1.
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As Emerging Market Currencies Falter, the Market Eyes Systemic Risk in Asia
"Sovereign credit ratings have reached the lowest range since the Financial Crisis. Yet, despite the rising risks, investors have allocated large amounts of their portfolio allocations to EMs relative to Developed Markets (DMs).”
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RBS Bankers Joked About Selling "Total F****** Garbage” to Clients
"RBS's chief credit officer described the products he was selling to investors as 'total f****** garbage' loans with 'fraud [that] was so rampant … [and] all random. He wrote to colleagues saying that loans were being pushed by 'every possible … style of scumbag,' and it was 'like quasi-organised crime."
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The Cresting Wave: "Housing Tipping Back to a Buyer's Market"
"Approximately 14 percent of all listings in June saw a price cut, that's up from a recent low of 11.7 percent at the end of 2016, according to a new report from Zillow. In addition, home price growth is slowing in nearly half of the 35 largest U.S. metropolitan markets."
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"It's the Pension Promises, Stupid!"
Broken math equations are the fundamentally flawed quicksand upon which the US financial system is currently built. Nowhere is this more apparent than in hopelessly insolvent public pensions. The only two sides that can't admit this? Willfully blind pension recipients and the politicians who lie to them to get votes.
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New Housing Starts With a Giant Miss: 0.9% Reality vs. 7.4% Expectations
For the second month in a row, expectations of a robust and resilient housing market meet the firm reality of a market that is realizing its bubble days are drawing to a close.
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Just Like 2008: FBI Investigating Multi-Billion-Dollar Mortgage Fraud Case
And, of course, the mortgages in question involve Ginnie Mae and Freddie Mac, meaning they're guaranteed by the American taxpayer. It's a system so broken and so lucrative to defraud, bubble-level prices make it a near-inevitability. "If borrowers or their mortgage brokers choose, they can easily submit and certify false numbers."
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