Good day! And a wonderful Wednesday to you! A very confusing day for yours truly yesterday. I have my beliefs, and they have been proven to be true for a long time now. But now there’s something gnawing at those beliefs now… and then a wrench gets thrown into the works. I’m telling you now, so you can listen to me later: Confusion reigns…
[Read more...]Why Has Gold Been Down?
January 6, 2012 By Leave a Comment
After all, in spite of some short-term fixes, there remains no real resolution to the sovereign debt issues in many European countries. We’re certainly not spending less money in the US, and now we’re bailing out Europe via currency swaps with the European Central Bank. Shouldn’t gold be rising?
[Read more...]Another Good Year for Gold and Gold Stocks?
January 5, 2012 By Leave a Comment
A new year, yes. But a well-aged story: Generalized fear and loathing about Europe is fueling the safety trade.
The longest, most-boring financial crisis in history continues.
For laughs, let’s tote up the damage:
- The Dow is down nearly 1%. Other US indexes are down more, others less
- Banks dragged down European stock indexes. Spain closed down nearly 3%, Italy 3.5%
- The euro is down to $1.279 — a level last seen in September 2010
- The dollar index is approaching 81 for the first time in a year
- The yield on a 10-year Treasury note is back below 2%
- Oil is down about 1%, to $102.21
Is Gold Washed Up?
January 3, 2012 By Leave a Comment
A stitch in time…
Okay… We have left 2011 behind. We are rid of it forever. It won’t come back. Never. Not even if the universe lasts a million years, we will never see it again.
Or will we? One of the intriguing discoveries of 2011 came the giant particle accelerator in Switzerland. Those clever scientists set up a race, from Geneva to a finish line in Italy, 730 kilometers away. It was a race of neutrinos against light. Who do you think won?
[Read more...]Looking Past Gold’s Poor Performance
December 15, 2011 By Leave a Comment
You don’t go into a Mexican restaurant to order Fettuccine Alfredo; you don’t go into Home Depot to buy a wedding dress; you don’t go into Goldman Sachs to get fair a deal…and you certainly don’t go into gold and silver to lose money during a currency crisis.
But that’s exactly what’s happening.
[Read more...]In or Out: How to Play the Swings in the Gold Price
December 15, 2011 By Leave a Comment
Hey…what’s going on with gold? The dollar up, gold down. When we checked yesterday the price was crashing through the $1,550 level.
Our friend, Dennis Gartman, tells us to get out. Here’s the report:
Gold, in the 11th year of its longest winning streak in at least nine decades, is poised to enter a bear market, according to Dennis Gartman, who correctly predicted the slump in commodities in 2008.
[Read more...]Gold Drops Through 200-day Moving Average
December 15, 2011 By Leave a Comment
First of all, the euro (EUR) fell through the 1.30 level yesterday, and although it attempts to recover the handle, it just doesn’t have the legs to sustain a rally… There’s been no news from the Eurozone as the week has gone on, and the ratings agencies have been quiet, so the old saying that no news is good news applies here, I think… The only news we had this week was the good auction in Spain (followed by the sloppy one in Italy)…
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Investment Alternatives in a No-Growth Market
Baltimore…best bet for investors?
We drove back into town on Sunday night. People moped around in front of bars. Groups walked uptown from the stadium, their shoulders down, the chins dragging. The city was dark…and unhappy.
There was no joy in Baltimore on Sunday night. Baltimore is a sports town. The Ravens — the only team we know named after a poem — had lost. They would not be going to the Super Bowl.
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