Precious metals news

The Admiral of the Silver Market Eric Sprott Breaks Down Today's HUGE MOVE in Gold and Silver: "A Very Significant Reversal In Precious Metals"...

The reckoning has begun...

The reduction in gold’s open interest on Comex, which has fallen nearly 110,000 contracts since 16th May, informs us that speculative positions worth $13.6bn have been extinguished, and the Comex […]

Everyone in the mining sector, literally everyone, was worried about a correction...

AT THE COMEX THE FRONT JUNE CONTRACT ADDS 7800 OZ TO THE AMOUNT STANDING- NOW WE HAVE A MONSTROUS 47.29 TONNES STANDING FOR GOLD DELIVERY!!

More & more this environment feels like late 2007/ early 2008: when the economy was in collapse but stocks held up on hopes that the Fed could maintain the bubble

This article was written by Dickson Buchanan, SchiffGold Precious Metals Specialist. Any views expressed are his own and do not necessarily reflect the views of Peter Schiff or SchiffGold.
Many Americans are concerned about their privacy today. And rightly so. The NSA and governmental authorities maintain their policies are ultimately for the safety and security of the American people. We will leave that debate in the capable hands of others, but where is this same concern when it comes to money? Have central governments given us a safe, secure, and stable money in the dollar system lead by the Federal Reserve? In this article we will compare the dollar to gold and even throw in the most popular cryptocurrency Bitcoin (BTC) to spice things up a bit.
First, let's define what we mean by security.

Not long ago, a video surfaced featuring Democratic Party candidate Bernie Sanders claiming bread lines were a sign of good times.
You know, it's funny. Sometimes American journalists talk about how bad a country is when people are lining up for food. That's a good thing. In other countries, people don't line up for food. The rich get the food and the poor starve to death."
Well, it must be the best of times in Venezuela!
Here’s how Public Radio International described the scene just a couple of weeks ago:

Let's face it, the system is coming down. Have you ever wondered "who" would be blamed this time around?

Sure, it may just go to $650 an ounce first, which incidentally would be awesome for those of us who love going long asymmetry. Rest assured however, when the wheels […]

Chaos in the markets has the metals going vertical as next week's rate hike, which had already been fully been priced in by the markets apparently, is suddenly not-so-certain as […]

What if the Bottom ISN'T in?...

Gold & Silver may never been cheaper than they are at the bottom in this cycle compared to the amount of money & debt in the world

MASSIVE MOVEMENTS OF GOLD AND SILVER INSIDE THE COMEX!

Demand for physical gold and silver continues to surge with bullion coins flying out of the US Mint at a frenzied pace.
May gold coin sales increased more than 206% over the same month last year. The mint sold 76,500 ounces of American Gold Eagles in May and 18,500 ounces of Gold Buffalos. That compares with 21,500 ounces of Gold Eagles and 9,500 ounces of Gold Buffalos in 2015.
May typically marks the beginning of the slow season for gold coin sales, but 2016 was atypical. This was the strongest May for US Mint gold coin sales since 2011.

During the Mauldin Strategic Investment Conference, Jim Grant said if you want to make money, you have to be willing to go into “scary places.” In an interview after his speech, he clarified what he meant saying you have to have the guts to go against the flow and do things the mainstream will ridicule you for.
Buying gold definitely fits that definition, at least here in the West.
Grant said he just doesn’t understand the mainstream’s disdain for gold:
Gold I think is seen as the vestigial organ of money. People who hold that view necessarily hold the view that the stewards of our paper and digital currencies have the answers. That this monetary improve conducted for the past seven or eight years by the Western central bankers certainly and those in Japan – that this is the way forward. And I try to understand what they’re saying, but I can’t make head or tail out of it. Seems to me the opposite is so obviously true.”

This bares watching VERY closely. COMEX looks to be nearly 50 tons short of what needs to be delivered.   Can they entice "eligible" (stored customer) gold to move and serve […]

What I want to show here, is how government is growing at a faster rate than the general population, & how dangerous to our prosperity that is.

"I don't buy gold, I own it.  I don't buy gold at $1,100 because I think it's going to go to $1,200.  I buy it for what it does, not […]

We had a rather large 30 million dollars worth of gold (at 42.22 per oz) leave NY in April. In ounces, we had 30 million /42.22 dollars = 710,563 oz […]