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Why is bank credit so destructive?

Alasdair Macleod

Gold Daily News: Thursday, January 16

Przemyslaw Radomski CFA

Doubts over phase one trade deal as US-China ties ‘still in deep trouble’

USA GOLD
South China Morning Post/Dewey Sim “Jia Qingguo of Peking University told a forum in Singapore that bilateral ties are in ‘bad shape’ as the US seeks to contain China.” USAGOLD note:  We continue to get conflicting accounts on the trade negotiatio...

Investors stick to their guns on gold to reap last minute payoff

USA GOLD
Bloomberg/Justina Vasquez “A volatile week ended in favor of gold investors, with geopolitical tensions reigniting haven demand for the metal.” USAGOLD note:  This Bloomberg piece reinforces the point made in the USAGOLD note to the post immediate...

Gold Prices 'Not Yet in Bull Market' as Bids Below $1555 Support in Asian Trade

Bullion Vault

Why Do Prudent Indians Diversify Into Gold?

Mark O'Byrne
◆ Indians diversify into gold coins, bars and jewellery because it never fails them in an emergency◆ Indians are simply very prudent and practical and believe in channeling some of their wealth and saving into physical gold◆ “A woman’s gold is bot...

Stock Bubble III: The Great Unraveling - Stock Option Expiration Friday

Jesse

Polyphony and Cacophony

Jesse

Short and Sweet

USA GOLD
__________________________________________________ Only real intrinsic money survives the test of time Here is a timeless observation from the now-deceased Richard Russell (Dow Theory Letter): “Paper money is now being created wholesale throughout...

USAGOLD’s Online Order Desk

USA GOLD
Great prices. Quick delivery. All the time. We invite your visit and participation. Our Online Order Desk offers state-of-the-art transactional technology that allows you to order anytime day or night and on the weekends at current gold and silver...

Gold Price $2,000 Forecast as Fed Swears Off Fighting Inflation

Bullion Vault

Phase 1 trade deal stops bleeding, doesn’t end U.S.-China dispute: U.S. Chamber

USA GOLD
Reuters/Gabriel Crossley/1-13-2020 USAGOLD note:  Some perspective from the U.S. Chamber of Commerce . . .

World’s Most Precious Metal Surges Over 30 In 2 Weeks and 12 Fold In 4 Years On Supply Concerns

Mark O'Byrne
◆ Rhodium has surged 30% in January to the highest levels since 2008 and has risen more than 12 fold in less than four years from $575 per ounce to nearly $8,000 per ounce◆ Rhodium is now 5 times more costly than safe haven gold and 440 times more...

Risk On - Sitting on Top of the World

Jesse

Investors pull gold from Hong Kong as tensions rise

USA GOLD
Financial Times/Hudson Lockett and Henry Sanderson “Private investors have begun to shift their holdings of gold from Hong Kong, months into the financial centre’s worst political crisis since the handover from British to Chinese sovereignty in 19...

Gold-backed ETF holdings reached all-time highs in 2019

USA GOLD
World Gold Council/Adam Perlaky “Investment demand increased as the gold price reached or was near all-time highs in every major G10 currency apart from the US dollar and Swiss franc, moving the most in ten years . . .” USAGOLD note:  Funds, insti...

Reserve Bank of India buys 15 tonnes of gold in October-November

USA GOLD
ETMarkets/Gayathi Nayak USAGOLD note:  This report notes that India’s central bank bought the gold as a hedge against currency volatility. Repost from 1-10-2020

US budget deficit topped $1 trillion in 2019 for the first time in seven years

USA GOLD
CNBC/Jeff Cox/1-13-2020 “The budget shortfall hit $1.02 trillion for the January-to-December period, a 17.1% increase from 2018, which itself had seen a 28.2% jump from the previous year.” USAGOLD note: And that’s the political deficit, i.e., the ...

Profit-Taking Hits Gold ETFs on Price Spike, Silver's SLV Shrinks 1,000 Tonnes from Peak

Bullion Vault

A USAGOLD Special Report

USA GOLD
≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠ CHART STUDY Toward a better understanding of the U.S. national debt . . . and its consequences “As of Friday, April 12, 2019, the national debt stood at $22,027,837,127,788.04* – $966 billion high...

Short and Sweet

USA GOLD
Part 5 of 5 . . . . . What makes this gold market rally different from all others Yields in economically important parts of the world are negative, not positive Negative interest rates are a reality in both the European Union and Japan, and Ala...

Ben Bernanke says the Fed shouldn’t rule out using negative interest rates

USA GOLD
CNBC/Jeff Cox/1-10-2020 “In a blog post released over the weekend, Bernanke cited the benefits of at least keeping the option alive to take short-term rates below zero. Doing so, he said, would give the Fed flexibility at a time when its policy to...

Wealthy Investors Are Buying Gold Coins and Bars and Storing Them In Secure Bunkers

Mark O'Byrne
CNN and Goldman Sachs via Russia TodayThe strategic case for owning gold remains strong, according to analysts at Goldman Sachs. They point to such factors as political uncertainty, recession fears and other worries among the global elite. Data...

Gold Erases Last of 2013 Price Crash with Comex Speculators 5x More Bullish

Bullion Vault

US-Iran tensions cast doubt on dollar’s haven credentials

USA GOLD
Financial Times/Eva Szalay and Colby Smith/1-10-2020 “Typically, the dollar jumps, along with gold, when bouts of geopolitical nerves strike. But after the US assassination of Iranian military commander Qassem Soleimani last week the currency bare...

Recent client testimonial

USA GOLD
“Thank you! It has been a pleasure doing business with your Company! You’ve treated the small investor (me) just like you would a millionaire. Best wishes, and I hope I can make some purchases in the future.” – L.W., Savannah, Georgia We also trea...

‘No one questions its value. . .’ – Alan Greenspan

USA GOLD
________________________________________________ ‘No one questions its value. . .’ – Alan Greenspan “No one refuses gold as payment to discharge an obligation. Credit instruments and fiat currency depend on the credit worthiness of a counter-party...

USAGOLD – Quality service and pricing since 1973

USA GOLD
_________________________________________________ USAGOLD ranks among the most reputable gold companies in the United States. Founded in the 1970s and still family-owned, it is one of the oldest and most respected names in the gold industry. The ...

Investors stick to their guns on gold to reap last minute payoff

USA GOLD
Bloomberg/Justina Vasquez/1-12-2020 “A volatile week ended in favor of gold investors, with geopolitical tensions reigniting haven demand for the metal.” USAGOLD note:  This Bloomberg piece reinforces the point made in the USAGOLD note to the post...

Gold Bullion Gains Extend ETF Growth as Inflation Worries Hit 'Even the Yellen Fed'

Bullion Vault

Announcement

USA GOLD
We are suspending our COT updates for the time being at the USAGOLD website and will announce their resumption at our Online Daily Newsletter should we decide to begin publishing them again.

Payrolls and Wages Come in Light

Jesse

Options traders bet that this gold rush isn’t just a flash in the pan

USA GOLD
CNBC/Tyler Bailey “[I]s this gold rush just a flash in the pan? Not according to the options market.” USAGOLD note: Speculators are betting gold will jump higher in the short term, according to this CNBC article.  The interesting part of this is ...

Thinking about buying gold and silver?

USA GOLD
Gold in six easy lessons 1. Don’t buy it because you need to make money; buy it to protect the money you already have. 2. Don’t look at price as a barrier; look at it as an incentive. 3. Don’t buy the paper pretenders; buy the real thing in the fo...

Doubts over phase one trade deal as US-China ties ‘still in deep trouble’

USA GOLD
South China Morning Post/Dewey Sim/1-9-2020 “Jia Qingguo of Peking University told a forum in Singapore that bilateral ties are in ‘bad shape’ as the US seeks to contain China.” USAGOLD note:  We continue to get conflicting accounts on the trade n...

Gold Bullion Flirts with Bearish 'Outside Week' But Negative Real Rates 'Very Positive, Unlike Geopolitics'

Bullion Vault

The Gold Market in 2019

Przemyslaw Radomski CFA

Here Is Why Gold Could Rise Above $7,000 An Ounce

Mark O'Byrne
by Charlie Morris via Money Week (Part II) The gold price could have a lot higher to go from here In Part I, I reiterated that gold is in a bull market, and I suggested that a bullish target for $7,166 is both logical and plausible. So how d...

Gold-backed ETF holdings reached all-time highs in 2019

USA GOLD
World Gold Council/Adam Perlaky/1-8-2020 “Investment demand increased as the gold price reached or was near all-time highs in every major G10 currency apart from the US dollar and Swiss franc, moving the most in ten years . . .” USAGOLD note:  Fun...

Reserve Bank of India buys 15 tonnes of gold in October-November

USA GOLD
ETMarkets/Gayathi Nayak/1-9-2020 USAGOLD note:  This report notes that India’s central bank bought the gold as a hedge against currency volatility.

Lawlessness - Non-Farm Payrolls Report Tomorrow

Jesse

The USAGOLD Website – A guiding light for current and would-be clientele since 1997

USA GOLD
Welcome newcomers! When the USAGOLD website was established in 1997, there was no Google, no Facebook, no I-Tunes, no Amazon. Instead there was just a handful of scattered websites trying to figure what this new technology was all about and how i...

Better Business Bureau Five Star Review

USA GOLD
–––––––––––––––––––––––––––––––––––––––––––––––––– Recent Better Business Bureau Client Review “Thank you so much for your high rating for USAGOLD, Denver. They were recommended by a close friend and I researched them on your website in Oct 2009 ...

Short and Sweet

USA GOLD
Part 1 of 5. . . . . . What makes this gold market rally different from all others It is led by institutions and funds, not private investors Global quantitative easing created a huge and mobile pool of capital in constant need of a place to cal...

Gold Prices Rebound from 2011-2013 Support Line, Asian Buyers 'Take Advantage' Ahead of Chinese New Year

Bullion Vault

Our Poisoned Chalice

Jesse

Schlock and Awe - Hubris That Knows No Bounds

Jesse

10 lustrous facts about gold

USA GOLD
Mental Floss/Elizabeth Miller “Gold’s symbol on the periodic table, Au, comes from its Latin name aurum, which means ‘glowing dawn.’ This metal’s tantalizing yellow color and shining exterior has made gold a prized element in jewelry and treasured...

Comex Trading Sees Gold Price Spike on Iran Rocket Attack But Stock Markets Rally on US Jobs Data

Bullion Vault

Gold Reaches $1,610/oz Prior To Retreating, Oil Higher and Stocks Lower As Iran Attacks U.S. Bases

Mark O'Byrne
◆ Gold surged to a seven year high at $1,610.90 overnight prior to retreating as markets experience volatility due to the risks of a U.S. retaliation after Iran’s attacks on U.S. bases in Iraq.◆ The severe, but long expected, re-escalation of geop...

Stock Futures Plunge, Gold Tops $1600

Jesse

No Fear for Equities - Gold Hits New All-time High in Euros

Jesse

The Fed could face a possible ‘inflation scare’ in 2020 with commodity prices on the rise

USA GOLD
CNBC/Patti Domm “The Fed has plenty on its agenda in 2020, including fixing the short-term funding market, but some market pros expect it to also face inflation in the near future.” USAGOLD note:  We have spent the past year with a nary a word on ...

Huge cosmic explosions that produce platinum, silver and gold may be more common than previously thought

USA GOLD
Newsweek/Aristos Georgiou “‘A kilonova is a flash of light produced by the radioactive debris of a neutron star collision,’ Troja said. ‘During the collision a lot of neutron-rich stuff is spewed into space at a velocity that is 20-30 percent the ...

The Precious Metals Safe Storage Advantage

USA GOLD
It only takes a few minutes to complete a Precious Metals Safe Storage account opening form, but it could mean all the difference for the investor seeking a superior alternative to gold and silver ETFs. We use the word “superior” because depositor...

Better Business Bureau Five Star Review

USA GOLD
–––––––––––––––––––––––––––––––––––––––––––––––––– Recent Better Business Bureau Client Review I made my first purchase of gold about 5 years ago and it was with USAGOLD. They answered all my questions and allowed me to buy a larger amount than t...

Options traders bet that this gold rush isn’t just a flash in the pan

USA GOLD
CNBC/Tyler Bailey/1-7-2020 “[I]s this gold rush just a flash in the pan? Not according to the options market.” USAGOLD note: Speculators are betting gold will jump higher in the short term, according to this CNBC article.  The interesting part of...

US-Iran Gold Price Jump 'Hits Physical Buying' as Stock Markets Rebound

Bullion Vault

Kuwait witnessed great demand for gold despite higher prices

USA GOLD
ArabTimes/Staff/1-6-2020 “Al-Sayegh [a jewelry dealer] said . . .  “It is noticeable that many citizens want to buy bullion besides gold jewelry, with the aim of investing in this yellow metal because it is considered as a safe haven for investors...

India gold prices hit record high on safe-haven rush, weak rupee

USA GOLD
INDIA WATCH Reuters/Rajendra Jadhav/1-6-2020 “Gold prices in India jumped over 2% on Monday to record levels amid a rush to invest in safe-haven assets globally as well as a steep fall in the rupee, dampening demand for the precious metal in the w...

Gold’s New Bull Market and Why $7,000 Per Ounce Is “Logical” (Part I)

Mark O'Byrne
◆ Gold could rise to more than $7,000 an ounce according to respected MoneyWeek contributor and fund manager Charlie Morris (Part I today and Part II tomorrow) The gold price is going higher. Source: Money WeekA year ago, in my occasional free ...

Short and Sweet

USA GOLD
_______________________________________________________ – One for the history buffs – 730 years of a strong British pound ends in 1931 with gold standard exit The St. Louis Federal Reserve recently released this interesting chart on consumer price...

Why precious metals make sense for your IRA in the age of low to negative real rates of return

USA GOLD
The warnings from financiers and analysts on the impact of low to below zero interest rates on investment planning come almost daily.  Reuters’ Toby Sterling recently told the story of a Dutch pension fund that was actually reducing monthly payout...

Gold Prices Jump to 7-Year High, 'Better Hedge Than Oil' as US and Iran Threaten to Attack Each Other

Bullion Vault

Gold Surges To Test $1,600/oz, Oil Over $70, Stocks Fall on Risks of World War In Middle East

Mark O'Byrne
◆ Gold has surged to test $1,600 per ounce, up 4% so far in 2020 and building on the stellar near 18.9% gain in 2019◆ Gold is testing it’s highest levels since 2013 as investors diversify into gold; Goldman, Citi and other gold analysts are advoca...

Trade Debate: US Mulls Lifting Sanctions on China to Hasten Deal, Calm Markets

Mish

Many don’t know yet what crops they’ll plant next season among a host of dicey options

USA GOLD
Reuters/Karl Plume and P.J. Huffstutter/1-2-2020 “Many don’t know yet what crops they’ll plant next season among a host of dicey options.” USAGOLD note:  Uncertainty reigns in agriculture. Federal government assistance accounted for one-third ...

China trade delegation to travel to Washington on January 13 to sign phase one deal

USA GOLD
South China Morning Post/Zhou Xin/1-5-2020 “The Chinese trade delegation tentatively plans to travel to Washington on January 13 for the signing of the phase one agreement that would herald a truce in the costly trade war between the world’s two l...

Gold goes vertical on Globex open

USA GOLD
(4:15pm MT) Up $23 at $1575.50. Silver up 21¢ at $18.24.

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USA GOLD
Gold Trading Hours Whenever the gold market gets active, we have a large increase in visitors at our Gold Trading Hours page.  Investors want to see which markets – Asian, European or American – are the focal point for price movement.  They also ...
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