Q: A roughly 20-year bear market in gold bullion and gold mining shares ended approximately with 9/11. What role, if any, did 9/11 play in this major market turn? A: First of all, my view is that markets are made by human reaction to events. The reaction is a subjective judgement. Objective events do not […]
Q: Could you please comment on the question of whether gold is money or a commodity. Many analysts say that money is whatever society has agreed to use as a medium of exchange, and gold no longer performs that function. Furthermore, if gold were money, it could not significantly increase in value as that would […]
From a purely mental perspective it’s a snap. We know when the low will occur and the gold market will turn from a bear to a bull. It will happen when most market participants expect a higher future price than the then spot price plus the cost to carry. Ludwig von Mises, in Human Action, […]
The women I know love clothes and gold and I think both at least at the wholesale level will be going on sale in the very near future. Cotton prices have been dancing the up-sloping trend line for the past 6 months as seen on the chart below. Current prices have July futures higher by […]
To say that “serious damage” has been done to the metals complex… well, that’s the understatement of the year! This is the quickest, most prevalent drop I have experienced in my career. In the words of Mohammed Ali, “float like a butterfly sting like a bee.” Consider yourself stung. It was good while it lasted. […]
The volatility in the economic sector has crossed all barriers from Wall Street to Main Street. The Stock Market has experienced triple figure moves on a regular basis causing sheer panic with investors.The price of Crude Oil has dropped from the $150.00 per barrel level down below $67.00 per barrel. Gold has not gone unscathed […]
Gold Bears Now Eye Longer-Term Support at $640.00 December Comex gold futures on Thursday morning hit a fresh 14-month low of $695.20. Serious near-term technical damage has been inflicted in the precious yellow metal recently, as price action in just over two weeks’ time has seen prices fall below major psychological support levels of $900.00, […]
The Gold market during the past seven months has truly been incredible. Flash back to mid-September 2007 and you will find Gold trading in the $680.00 range, while six months later in mid-March ’08 it was trading $1,030. (more…)
