Precious metals news

Most observers expect the Federal Reserve to nudge rates higher this month. Stock markets continue to push upward. Analysts continue to talk up the economy. Conventional wisdom holds this should all be bad for gold. And yet the price of the yellow metal hit its highest level since November yesterday, peaking midday at $1,296.15 per ounce.
It's easy to get caught up in the moment, but the most recent rally makes up part of a broader trend. Gold is around 13% higher on the year, and as we reported last week, gold was up for fifth straight month in May, the longest "win streak" since 2010. A recent Bloomberg survey signaled more gains on the horizon.
So what gives? Why are investors buying gold?
In a word - uncertainty.

The skyrocketing gold price hasn’t been baked into the cake yet, but it will.

Companies that store valuables are expanding to meet demand

Commercial Real Estate’s boom-and-bust cycle heads south.

The longer-term outlook is further clouded by high debt levels in faster growing economies & political gridlock in Washington.

Per Hussman, “investors are accepting this current bull market with increasing dedication.”

pointing to China and emerging market slowing, events which would coalesce to various degrees with his negative market positioning.

Wealth preservation, store of value, inflation hedge, portfolio diversification, future upside, & investment fundamentals.

Although it may not “feel” like it, the price of gold has been in a nice – albeit “controlled” – uptrend since late December:

Shadow Stats John Williams sees a lack of confidence in the U.S. Dollar & discusses his view on owing gold.

The OECD has forecast that the global economy is on course for its fastest growth in close to six years but has warned that countries need to strive to do better.

The euro was slightly weaker against the dollar on Wednesday, in choppy trading, on reports suggesting the European Central Bank would lower its inflation targets at Thursday's policy announcement.

UBS' Art Cashin sees vulnerabilities in the stock market.

It’s starting to look like the month of June could be a serious “barnburner”...

Building bridges to nowhere isn't just a waste of money in the present; it saddles the economy with productivity-draining costs for decades...

Taxes and spending already are too high, and huge unfunded liabilities point to an even darker future. If there is to be any hope for the future of this state, the Governor needs to hold firm.

Rudi Fronk and Jim Anthony, the cofounders of Seabridge Gold, discuss the significance of gold breaching its downward sloping 6 year trend line.

Gross who recently said Gold is a Better Investment Than Bonds & Stocks, See's Severe Market Correction

Has the BREAK OUT Begun?

The number of S&P 500 companies reporting negative earnings is rising rapidly. Why does this matter? It matters because this usually signals right before a stock market peak. Below is a chart illustrating the percentage of S&P 500 companies reporting negative earnings running back to 1999. As you can see, we are now at levels