Precious metals news

Elijah Johnson and Eric Dubin welcome David Morgan to the show. The Silver Guru says a major shift is transpiring in the markets right now. David brought some gold & silver […]

In the next recession expect rates to fall nearer to Japan & Germany type levels; below 1% & possibly below 0.50% or 0%

The SchiffGold Friday Gold Wrap Podcast provides you with a brief overview of the past week's precious metals news.

Almost every morning as I scour the interwebs for gold news, I run across a story about gold smuggling. It's big business, you know. Particularly in countries like India that have high import tariffs on the yellow metal. Just yesterday, customs authorities arrested a father-son duo at the international airport in Delhi.
In fact, according to an article I read about smuggling, gold is the fifth-most smuggled item in the world. It ranks higher than food, cigarettes, and cash.
It's a lucrative business, as you can imagine. People want gold, and they'll go to great lengths to have it. But smuggling isn't as easy as you might think. You have to be clever.

One thing about the mainstream media - it almost always reacts. It rarely anticipates. This is pretty indicative of the general public. People see a bandwagon rolling by, and they want to jump on.
Earlier this week, gold finally broke through the $1,300 barrier and held that position. Safe-haven buying has been key in pushing gold higher, but there are other factors driving the bulls as well, including a weak dollar and a growing sense that the Fed is going to back off interest rate hikes.
Of course, gold has been doing well for months. People just haven't been paying attention. Gold has outperformed the S&P 500 so far this year, yet the stock market has gotten all the press. But with gold finally trading above that key $1,300 level, the spotlight has finally swiveled to the glittering yellow metal. The bandwagon is rolling, and everyday folks are grabbing on to take a little ride.

Gold, palladium, platinum, silver: ALL UP ON THE WEEK. Copper up on the week. The commodities super-cycle running of the bulls is NOW IMMINENT. Central banks and their minions might want to […]

There is no lack of fundamentals supporting the move upwards.

Gold prices continued to make headway in US trading on Thursday as the US currency lost ground. Prices drifted slightly lower in Asia on Friday, although there was support just below the $1,320 per …

The bad news just keeps piling on for the dollar.

Rate on Treasury bills maturing Oct. 5 rose by roughly 5bp to 1.1375% as investors continue shunning short-term securities vulnerable to a debt-ceiling deadline.

Bloomberg: Fed Demands Wall Street Protections Against Lehman-Like Runs

The fund says there’s every indication that global trade is suffering from something more serious than a temporary slowdown.

At 62.9%, Labor Force Participation Stuck Near 38-Year Low

For the second month in a row (and 3rd of the last 4), US construction spending dropped in July.

Wells Fargo's fake accounts scandal now looks bigger than expected. If CEO Tim Sloan doesn't fix this, the bank might not survive.

The news continues to worsen for America’s public pensions & for the people who depend on them.

This surge comes despite a drop in New Orders (and new export orders) and plunge in customer inventories.

The point is the present system cannot endure. Despite all the happy talk about "recovery" and higher growth, wages have gone nowhere sin...

There’s been a lot of buzz in Venezuelan financial circles recently about how inflation has taken off once again.

While Wells Fargo was ripping everybody off, its derivatives book expanded 5-fold from $1.7T to $8.4T