Blog

September 13, 2010 – I am pleased to present the following article written by Mark Lundeen. He explains why the Barron’s mining stock average has outperformed the Dow Jones Industrials since 1920. The analysis excludes dividends on both averages, which in itself could be an interesting study. Nevertheless, his conclusions are thought provoking and worthRead more

July 29, 2010 – Much has been made recently of the news that the BIS last year completed a 380-tonne gold swap with an unnamed commercial bank. This BIS transaction intuitively strikes me as being hugely important.  Unfortunately, the BIS and the bank involved have disclosed too little information for any of us outside theRead more

June 1, 2010 – Numerous records continue to be broken by gold, including some longstanding ones that go back to the January 1980 peak.  Gold closed the month of May at a new record high against every major world currency except the Japanese yen. Various charts of the gold price in terms of major currenciesRead more

The IMF does not own gold; it owns claims to gold

Greece’s debt troubles are well known. Less recognized is the worrying truth that Greece is just the tip of the iceberg.

April 12, 2010 – On August 16, 1999, I recounted how legendary traders Jim Fisk and Jay Gould had profited handsomely from a massive short squeeze in gold 130 years earlier.  The opportunity they took advantage of arose because of the ongoing monetary turmoil of their day arising from the so-called “greenback”, the irredeemable fiatRead more

April 10, 2010 – Gold climbed $36.00 this past week, a substantial 3.2% weekly gain.  Importantly, gold has finally hurdled above resistance around $1140.  In fact, it literally blew right through it. It has been nearly a month since I wrote that we should “note how strong gold has been throughout this correction.”  Even thoughRead more

The shorts in gold – and particularly the shorts in silver – felt some pain today. Gold climbed $11.80 to close on the Comex at $1125.10, a 1.1% gain for the day. Silver did nearly twice as well, up 2.1% for the day and ending at $17.876, the highest in ten weeks. The gold/silver ratio fell to 62.9 from 63.6 the day before.

March 16, 2010 – Gold has been stopped time and again in its decade-long bull market by recurring hurdles that appear at an ever-higher price.  During these encounters, several things happen, most notable of which is the growing bearish sentiment in the face of a seemingly insurmountable price barrier.  We are seeing that pattern repeatRead more

The nearly $30 surge in the gold price from Friday to yesterday’s close in New York should not surprise anyone familiar with the gold price suppression scheme documented so carefully and thoroughly by GATA. For years the gold cartel has been manipulating the gold price to repeatedly feed upon those traders who are guided by black-box trend following models.