Author Archives: USAGOLD

Exclusive offer to Online Order Desk registrants sold out. . . .

It was actually sold out by the open of business today, but with everything going on in the markets, we didn’t get around to posting this announcement until now.

Many thanks to those who participated in this special offer and congratulations on your timing!

If you have not registered as yet to use the Online Order Desk, we invite you go to our sign-up page so you will be in a position to purchase when we e-mail and post the next offer. Quite often our special offers sell out quickly as was the case with yesterday’s sale of Dutch 10 guilder queens.

We will keep you informed of future offers.

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Exclusive Offer – Online Order Desk registrants only

Online Order Desk Special Offer
Dutch Queen 10 Guilder

Netherlands / Queen Wilhelmina /.1947 troy ounces / Minted – 1892-1933 / Uncirculated grade

You can own this historically-important, elegant and scarce old world gold coin at a price comparable to what you would pay for a modern bullion coin – a solid opportunity. First-come, first-served.

Only 300 available at this special pricing –– 8% over melt value. Online Order Desk registrants only *

New to USAGOLD? Questions?
Please call our ORDER DESK to place your first order – 1-800-869-5115
, Extension # 100

* To complete your registration, please go to our sign-up page linked at the top the Online Order Desk entry page.

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Upcoming release of an important edition of our client letter


Next week we release the February issue of our client letter. 

The feature article this month is titled:

Gold takes center-stage in dollar scare
Not strong, not weak but strategically benign
by Michael J. Kosares

From that article. . . .

“In the end, the international FOREX markets will determine the dollar’s value against other currencies, but that journey will be influenced by other players on the stage, i.e., central banks and governments, including the U.S. government and the Federal Reserve, whose main interest in each instance is the value of their currency. More specifically, their interest lies in the value of their currency against all others especially their largest trading partners.
It is there, on the ultimate battleground of the political economy, that the plots and subplots can become as twisted and complicated as the intricacies of a John LeCarre novel. Note, for example, the couching of terms in the following two statements delivered during the Davos conference late last month. . . .”

If you are not a subscriber and you would like to be, we invite you to sign-up at this link.  We make the newsletter available to our current and prospective clientele as a free service and we welcome your participation. You will receive notification of the February edition’s publication by e-mail.  In the meantime, you will have open access to the January edition.


Mr. Kosares is the author of The ABCs of Gold Investing: How To Protect and Build Your Wealth with Gold and the founder of USAGOLD.
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Gold sideways today, but breaking above long-term trendline

EARLY REPORT

Gold is sideways in early trading today – up $2.20 from yesterday’s close at $1329.00.  Silver is down 3¢ at $16.99.  Both metals seem to be stabilizing at these levels after the past few days of downside related mostly to profit-taking after the strong run-up since mid-December.  Currencies, particularly the Japanese yen, are moving up against the dollar this morning – a trend that might push the metals higher before the day is done.

“Gold bugs,” says Tumblr’s Dana Lyons, “might just get their opportunity to finally move the needle here soon, however. At least, they have a potential catalyst close at hand, based on the chart of the GLD. How so? The fund is presently testing the Down trendline stemming from its 2011 all-time high. Should the GLD be successful in breaking out above that trendline (presently near 127), it may open the way for further, perhaps considerable, gains in the near-term.” (See our nearby Chart of the Day)

Chart of the Day

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Are we heading for another developing world debt crisis?

The Guardian/Larry Elliott/1-14-2018

“Global interest rates are rising. Poor countries are finding it tough to pay back money borrowed from banks in anticipation of a commodity windfall that never materialised. Stir in some dirty dealing that has seen funds stolen and what do you have? That’s right: the makings of another debt crisis.”

USAGOLD note:  Quietly while the focus of attention has been the status of U.S. debt, the compressed yield curve, the end of the U.S. bond bull market, etc. another potentially serious crisis is brewing in the emerging world, particularly in Africa.  If the bubble pops, it will likely catch the markets and policy-makers by surprise.

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Apple’s repatriation drives dollar higher, gold down

LATE REPORT

Gold finished down $11.50 today at $1326.77 reacting almost immediately to the announcement that Apple would repatriate $250 billion in overseas cash. Silver finished down 19¢ at $16.96.  Prior to Apple’s announcement, gold was moving along nicely attempting to recapture the $1340 mark and silver was back over $17.

So why would Apple’s announcement influence the price of gold?

There  is a school of thought in the financial markets that says corporate repatriations will drive up the dollar because overseas holdings will need to be converted to dollars before their return.  There’s another school of thought that says those funds are already in dollars so repatriations will not drive up the greenback’s value. It has to be one, the other, or something in between.  Today the first school was dominant and the second was left scratching its head.  But tomorrow’s another day. . .

If you are looking for more on gold, please scroll.  A wealth of information awaits. . . . . . . .

Quote of the Day
“Now that the tax bills have passed both houses of Congress, ‘dollar bulls have started banging their drums’ again, analysts at Unicredit said. However, they said this attitude is misguided because the vast majority of the earnings that companies will repatriate are probably already in dollar-denominated securities in the United States. ‘Even a significant wave of repatriation might not lift the dollar directly, as some of the largest U.S. corporations already hold a lot of cash in dollar-denominated assets,’ said Shaun Osborne, chief FX strategist at Scotiabank in Toronto.” – Gertrude Chavez-Dreyfuss and David Randall, Reuters (12-8-2017)


Why choose USAGOLD as your precious metals broker?

REASON #1 –– RELIABILITY

USAGOLD has always attracted a certain type of investor — one looking for a high degree of reliability and market insight coupled with a professional approach that emphasizes guidance and individual needs over high-pressure sales tactics. It is not uncommon for sophisticated gold owners to comment how happy they were to find us after their experiences with other gold firms. From the first point of contact through the delivery of your orders, we think you will find, as have many thousands of clients before you, that you have chosen a firm with your interests in mind.

For the other six reasons. . . .

 

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Martin Feldstein: Stocks will face downward pressure from rising interest rates

NewsMax/Rob Williams/1-17-2018

“An excessively easy monetary policy has led to overvalued equities and a precarious financial situation,” Feldstein wrote in The Wall Street Journal. “The Fed now faces the difficult challenge of trying simultaneously to contain inflation and reduce the excess asset prices—without pushing the economy into recession. Feldstein doesn’t say how much the market may decline in discussing how expensive stocks are in relation to historical norms.”

USAGOLD note:  Feldstein, a Harvard economist, was chairman of the Council of Economic Advisors under President Ronald Reagan.

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Quick Update: Gold’s intra-day $11 drop

Gold began its roughly $11 descent from today’s highs ($1340) about the time news broke on Apple’s repatriation of its $250 billion overseas cash pile.  Someone, or better put, someone’s algo read it as dollar bullish . . . . .MORE in tonight’s LATE REPORT. . .

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Davos World Economic Forum: Risk Report says systemic collapse possible, but will the word “gold” be uttered publicly?

World Economic Forum/The Global Risks Report 2018/

“When a risk cascades through a complex system, the danger is not of incremental damage but of ‘runaway collapse’—or, alternatively, a transition to a new, suboptimal status quo that becomes difficult to escape. For example, even though a runaway collapse of the global financial system was averted a decade ago, the global financial crisis triggered numerous economic, societal, political and geopolitical disruptions. Many are still only poorly understood, but they shape a ‘new normal’ that in turn will create its own disruptions, spillovers and feedback loops in the months and years ahead.

As the pace of change accelerates, signs of strain are evident in many of the systems on which we rely. We cannot discount the possibility that one or more of these systems will collapse. Just as a piece of elastic can lose its capacity to snap back to its original shape, repeated stress can lead systems—organizations, economies, societies, the environment—to lose their capacity to rebound. If we exhaust our capacities to absorb disruption and allow our systems to become brittle enough to break, it is difficult to overstate the damage that might result.”

USAGOLD note: Next week we have the Davos conference.  President Trump will address the gathering on Friday (1-26-2018), its final day.  Needless to say, his presence there has already generated considerable controversy, so this year Davos will get its fair share of attention in the mainstream media.  As you might have gathered, conference organizers have a long list of risks to occupy their attention (as covered in the Risks Report linked above) culminating with the dangers to our financial systemic outlined briefly above. One doubts that the word “gold” will be uttered publicly in this context, but as we have come to find out over the past year, a good many of the participants are, in fact, gold owners. The subject no doubt will be raised in a conversation or two held privately.

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Gold continues to give ground early

EARLY REPORT

Gold continued to give ground today in a continuation of the profit-taking/position rejiggering that began yesterday.  It is trading at $1333 and down almost $8 on the day.  Silver finds itself in similar straits, down 16¢ at $17.06.  An attempt to recover during Asian trading hours last night failed at the $1344 level for gold and $17.28 for silver. The London market was relatively quiet.

Undergirding the precious metals markets are general concerns about the overall health of the financial markets going forward. Reuters reports this morning that “In the longer term, gold will be supported by risk that global share prices could fall from record highs and strong growth around the world could stoke inflation. ‘Concerns regarding (share price) overvaluations and the possibility of rising inflation have reignited interest in gold,’ Standard Chartered analysts said.”

Chart of the Day
Last night we mentioned gold’s strength in terms of the Japanese yen.  For the curious among our readers,  here is the two-year chart for gold in yen from our friends at Gold Charts ‘R’ Us.  Note the spike that began in mid-December.

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Gold, silver register muted reaction to stock market’s “wild flip-flop” (at least for today)

LATE REPORT

Gold finished down $3.39 on the day at $1339.05 recovering some of the loss it experienced earlier in the day.  Silver finished 20¢ lower at $17.24. The most important news of the day, of course, is the Dow Jones Industrial Average’s harrowing 283-point reversal. CNBC followed the day with an appropriate headline: “Stock market’s wild flip flop comes as warning signs build”.  As for gold and silver, the reaction to events on Wall Street was muted at best, at least for today.

Quick update:  Gold is showing some spunk in the overnight (Asia) market, now trading at $1344.  Silver is trading at $17.30. The price of gold in yen is up sharply.

Quote of the Day
“Money, again, has often been a cause of the delusion of multitudes. Sober nations have all at once become desperate gamblers, and risked almost their existence upon the turn of a piece of paper. To trace the history of the most prominent of these delusions is the object of the present pages. Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, and one by one.” – Charles Mackay, Extraordinary Popular Delusions and the Madness of Crowds (1841)


From the January edition of USAGOLD’s News & Views:

“In studying the chart, it is difficult to ignore the possibility that we may have come to an inflection point for gold. As you can see, the DJIA price line went vertical in the last five years of the cycle beginning in the sixteenth year. As mentioned earlier, gold’s secular bull market is now going into its 16th year. There is a possibility, given a convergence of dynamic events, that gold’s price line could follow the DJIA template – a turn of events that could make 2018 a critical year for the gold market. At the same time, it could turn out that gold’s cycle will be more protracted and the entire time line stretched. If the market does roll into the mania phase, the verticality, as suggested by our chart, will take a good many by surprise. In either case, at the very least we are likely to be in for a very interesting five-year period.”

If you would like to see that chart (and the accompanying in-depth commentary) which compares the 1980-2000 bull market in stocks to the current secular bull market in gold, we invite you to subscribe to our monthly newsletter.

FREE SUBSCRIPTION
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As a bonus,  you will also receive immediate access to our in-depth investor information packet  – The SafeHaven Investor
(Six articles of interest to current and would-be gold owners)

 

 

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Gold down early today on technical selling

EARLY REPORT

Gold is down about $7 this morning at $1335.00 mostly, it appears, on technical selling after last week’s run-up.  Silver, down 24¢ at $17.12, is following gold’s lead.  In the recent past, it has bounced back from these technical episodes – sometimes during the same trading session. We shall see if that’s the case today.

The World Gold Council is out with its assessment for gold in 2018 and says that demand will be strong the result of global economic growth, shrinking central bank balance sheets, rising rates and frothy asset prices. “Gold’s performance in 2017 was not an anomaly,” says the Council, “It has provided competitive returns over the long run, growing by 10% on average since 1971 – following the collapse of Bretton Woods and the end of the Gold Standard. It has also performed well compared to major stock indices over the past two decades.”

Chart of the Day

ChartNote:  A number of news sources have run the 10-year Treasury yield chart to show the 30+ year bull market run for bonds.  What they fail to show, in most instances, is what inspired it – the runaway inflation of the 1970s and parallel spike in interest rates and yields.  For every action, as Sir Issac Newton instructed us, there is an equal and opposite reaction and implementation of that law applies to Fed policy in this respect as well.
After the 1970s inflationary spike, the Fed radically tightened the money supply and pushed interest rates higher (the Action).  That combination inaugurated the long-term run to the bottom on yields you see on the chart.  Now, in response to the conclusive disinflationary crisis of 2007-2013, it has responded with a flood of money and near-zero interest rates, (the equal and opposite Reaction.) Gold reacted well to the systemic crisis spawned by that disinflationary crisis and few would be surprised if it reacted other than positively to some future inflationary scenario as it did in the 1970s.
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Massive short sale Friday failed to reverse gold’s uptrend

USAGOLD note:  Someone dumped a massive amount of paper gold on the COMEX at the open on Friday, January 12, 2018. The sale of 49,507 contracts (over 150 tonnes, noted below) temporarily caused a $13 drop in the price from $1334 to $1321.  Gold quickly recovered trading at one point near the $1340 level. We often hear about the paper dumps that kill an uptrend. This is one that failed and worth posting for future reference – the best laid plans of mice and men (and algorithms). . . . .gone awry.

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Gold flexes muscle, posts $15+ gain today

LATE REPORT

Gold flexed some muscle today posting a $15.52 gain on the day and finishing at $1337.73.  It was up $18.48 on the week, or 1.4%, the fifth week in a row it has posted gains.  Gold is up 2.7 % in January and a strong 7.7% since its December 11 interim low. Silver also had a respectable day finishing up 26¢ on the day. Kind of lost in the day’s shuffle, the dollar fell broadly against all of its major competitors – the euro, pound, franc, yen and yuan.

For the details on today’s market action, we direct you further down the page to our EARLY REPORT and the run of posts on today’s developments.  It was quite a day. . . .

Quote of the Day
“But there will almost certainly be big losses in the system if rates did jump higher.  Leveraged corporate borrowers, and even governments, would also suffer shocks.  The Congressional Budget Office calculated that costs on US federal debt will rise from $270 billion to $712 billion over the next decade if 10-year yields rise from 1.8% to 3.6% (excluding the Trump tax cuts).  If that happened in just year, it would be deeply painful.” – Gillian Tett, Financial Times (1-12-2018)


If Gillian Tett’s concerns align with your own, you might benefit from “The National Debt and Gold” – one of six important investor-oriented articles included in. . . .

A magazine-like,  in-depth information packet on today’s gold market
for newcomers to the gold market and market veterans alike

When you consider that the 10 year Treasury hit 2.5% today,
the 3.6% rate pain threshold she mentions doesn’t seem that far off.  But what does it mean for Fed policy, for the dollar, for gold?


We invite you to register now for free immediate access.
Open to ALL including existing clientele.

“It’s not a question of IF but WHEN”

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Gold up 2.2% in January, commodities and core CPI drive today’s pricing

EARLY REPORT

Gold is tracking higher today in an extension of a rally that started last night in Asia.  Gold is up $9 at $1331.00. Silver is following suit, up 15¢ at $17.10.

As discussed in last night’s LATE REPORT, it looks like the move higher is being pushed by general strength in commodities. Since mid-December, commodities are up about 5% according to the Bloomberg Commodity Index. Underlying the move is China’s stronger than expected economy in the second half of last year.  Gold sold off at the U.S. open, but then quickly regained its footing after the December Consumer Price Index report showed a surprise .3% gain (3.6% annualized) in core inflation.

As our chart of the Chart of the Day illustrates, gold is having a strong January as has been the case the past several years.  It is up 2.2% on the year and up 7.2% from the December 11 lows.

“It’s not a question of IF but WHEN”

An exclusive in-depth information packet on today’s gold market that will appeal to newcomers and market veterans alike


We invite you to register now for free immediate access.
We think you will appreciate this magazine-like update,
including six key articles, on the current gold market.

Open to ALL including existing clientele.


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Gold strong in Asian trading, looks like commodity-based rally

LATE REPORT

Gold is exhibiting some strength in the Asian market tonight trading near the $1327 level and up about $3.50 from the U.S. close.  Silver has cracked the $17 barrier once again trading at $17.11, up about 7¢ from the close. There is not enough movement in the yen or yuan to explain the strength in precious metals. The only visible push at the moment is soaring oil and other commodity prices, including platinum and palladium – markets in which China occupies the epicenter. Gold is up firmly in Japanese yen as are the industrial metals.  We will go with a commodity-based rally for now.

Quote of the Day
“The question this raises is if the ratio breaks in gold’s favor, what will the majority of investors and hedge fund managers choose, yen or gold? Generally, choices like this are made based on momentum, leading us to believe that they will follow gold instead of the declining yen. Prepared investors are getting ready by selling their yen and buying up gold.” – Value Walk, The yen and gold correlation: A rush to precious metals (1-9-2018)


 

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Newcomers’ Corner: Paper gold sets the gold price, not the buying and selling of physical metal

USAGOLD note:  We at USAGOLD are often asked by newcomers:  “If the demand for physical gold is so strong internationally, why isn’t the price considerably higher than where it is trading today?”  Here is a straightforward and succinct answer to that question from gold expert Ronan Manly who writes for Singapore’s BullionStar. This explanation will be especially meaningful to those trying to understand what drives the gold pricing mechanism.  I should add for purposes of clarity that physical trading does affect the pricing of paper gold in due time as the fundamentals come to influence traders’ thinking.  That last statement will make more sense once you have read Mr. Manly’s description below.

“However, ‘gold’ trading in London and on COMEX is really trading of very large quantities of synthetic derivatives on gold, which are completely detached from the physical gold market. In London, the derivative is fractionally-backed unallocated gold positions which are predominantly cash-settled, in New York the derivative is exchange-traded gold future contracts which are predominantly cash-settled and again are backed by very little real gold.

While the London and New York gold markets together trade virtually 24 hours, they interplay with the current status quo gold reference rate in the form of the LBMA Gold Price benchmark. This benchmark is derived twice daily during auctions held in London at 10:30 am and 3:00 pm between a handful of London-based bullion banks. These auctions are also for unallocated gold positions which are only fractionally-backed by real physical gold. Therefore, the de facto world-wide gold price benchmark generated by the LBMA Gold Price auctions has very little to do with physical gold trading.”

LINK: Ronan Manly, Bullion Star, Singapore

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Bond market sell-off, dollar worries pushing gold higher today

EARLY REPORT

Gold is tracking higher in early trading, up $5.00 at 1322.25 on continuing concerns about the U.S. bond market and the near-term value of the dollar.  Silver is up 5¢ at $17.01. The ECB minutes revealed a hawkish tone that pushed the euro up against the dollar.  As reported here yesterday, a similar tone from Japan’s central bank pushed the yen higher yesterday.  Financial Times ran a front-page story this morning  citing a slew of factors weighing on the market for U.S. Treasuries and causing a “fierce” sell-off yesterday –– a new era in the bond market, something called “Trumpflation,” the China reports we’ve featured (below) and Bill Gross, the Bond King, shorting Treasuries.  Gold has been a direct beneficiary of the bond and dollar concerns now preoccupying the financial markets.

Chart of the Day

Chart note:  This long term gold chart is drawn in log-scale. “Common percent changes,” says Investopedia of log-scale charts, “are represented by an equal spacing between the numbers in the scale. For example, the distance between $10 and $20 is equal to the distance between $20 and $40 because both scenarios represent a 100% increase in price.” On a linear chart the lesser values are compressed to the point that the viewer misses the strength of a price move, and the greater values are extended to a degree that they tend to dramatize a price move – up or down.  The log-scale chart presents data in a more realistic framework without the drama.  As you can see from the chart above, the upward trend of the gold price since the early 2000s is not nearly as strong as the move between 1970 and 1980 in percentage terms leading some analysts to believe that we have considerable upside yet to be charted.

If you haven’t visited our new Online Order Desk as yet, we invite you to take a test drive. We have been surprised by its instantaneous popularity and the number of clients who have already placed their first order – a number that grows daily. One of its most useful features is that you can order anytime day or night and on weekends. The state of the art system updates prices continuously, and we have a good selection of items available typical of most safe-haven precious portfolios. We invite your visit and your participation.

Great prices. Quick delivery. All the time.
Modern gold and silver bullion coins and bars
Historic fractional gold coins
Historic U.S. gold coins
Ongoing Special Offers

 

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The dragon is back

LATE REPORT

Gold finished up $4.16 on the day at $1316.73.  Most of the gain however occurred in Asia and Europe.  Silver finished up just a penny at $16.95.  In early  Asian trading gold has tacked another $2 on to the price, so we will see what happens as the evening unfolds, i.e. whether Asia and Europe pick up where they left off last night.

The big news of the day undoubtedly is China’s announcement that it may call a halt to U.S. Treasuries purchases (as reported further down the page). It was probably not a coincidence that analysts for the Bank of China predicted on the same day that commodities would come into “full bloom” in 2018.  Since China is a huge market for commodities, maybe the London-based analysts behind the report know something we don’t.  In addition, we still have the action involving the yen/gold trade working the market at the present time, as we reported this morning and last night.

To get the rest of today’s scenario, please scroll.  Once again, it was a big day for news affecting the gold market.

Quote of the Day
“In our view (supported by a century of market cycles across history), investors are vastly underestimating the prospects for market losses over the completion of this cycle, are overestimating the availability of “safe” stocks or sectors that might avoid the damage, and are overestimating both the likelihood and the need for some recognizable “catalyst” to emerge before severe market losses unfold. We presently estimate median losses of about -63% in S&P 500 component stocks over the completion of the current market cycle. There is not a single decile of stocks for which we expect market losses of less than about -54% over the completion of the current market cycle, and we estimate that the richest deciles could lose about -67% to -69% of their market capitalization. As in 2000 and 2007, investors are mistaking a wildly reckless world for a permanently changed one, and their reeducation in the concept that valuations matter is likely to be predictably brutal.” – Jon Hussman, Hussman Strategic Advisors


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“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 and have been in touch with them ever since. I am now in full trust with their extraordinary business of great integrity and expertise. I will always deal with them . . Again, thank you for your expert ratings.” – Ellie C.

Scorecard:
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Gold bounces back in early trading

Early Report

Gold bounced off yesterday’s lows posting a nearly $7 gain in early trading at $1318.  Silver is up 5¢ at $17.01. Gold tracked higher overnight during both Asian and European trading hours getting as high as $1325 before reversing course.

We continue to monitor the gold/yen relationship and, as mentioned yesterday, were a bit puzzled by the break between the two in yesterday’s trading, i.e., the yen rising, gold falling. Today, the old relationship seems to be reasserting itself.  The yen is up sharply against the dollar.  Yesterday’s disconnect is beginning to look like a one-day wonder.

••• For those catching up, here’s a solid primer on the yen/gold situation just released this morning by Value Walk – The yen and gold correlation: A rush to precious metals.

Charts of the Day
FYI:  The first chart is an overlay showing the past two days.  The second chart shows the longer term trend we’ve highlighted in several reports over the past few months.  Remember that the yen is quoted in yen per dollar. Therefore it charts inversely, i.e. an up-trending line is declining yen value vs. the dollar and a down-trending line is rising yen value vs. the dollar.

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Gold drifts sideways today, Japan ‘stealth taper’

LATE REPORT

Gold spent the U.S. trading session drifting sideways finishing down $7.73 on the day at $1312.57.  Silver had a similarly lackluster day finishing down 14¢ and moving back under the $17 level at $16.94. As mentioned in the Early Report, we didn’t see much in the way of news to vindicate the downside and, as a result, set blame with technical sellers taking profit in the wake of December’s big run-up.

Of interest: Reuters reports Japan trimming government bond purchases and general market speculation that it may be winding back monetary stimulus.  Japan’s ‘stealth tapering’, as traders are describing it, explains why the yen jumped higher the past 24 hours. It does not explain why gold, contrary to recent trending patterns, did not follow along. It will be interesting to see what happens in the overnight markets when Asia opens. This could be a one-day wonder or something else. . .We will keep an eye on the situation and report back.  Stay tuned. . . . .

There was much to report today. . .Scroll down for the full scenario.

Quote of the Day
“The dollar’s dominance as an international unit is buttressed by the country’s role as a global power guaranteeing the security of allied nations. If that role were seen as less sure and that security guarantee as less ironclad, because the U.S. was disengaging from global geopolitics in favor of more stand-alone, inward-looking policies, the security premium enjoyed by the U.S. dollar could diminish. Our estimates suggest, in this scenario, that $750 billion worth of official U.S. dollar-denominated assets – equivalent to 5 percent of US marketable public debt – would be liquidated and invested into other currencies such as the yen, the euro or the renminbi.” – Barry Eichengreen of the University of California, Berkeley, and Arnaud Mehl and Livia Chitu of the European Central Bank, Mercury and Mars

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January 2018 SPECIAL OFFER


French 20 Franc Ceres
~170 year-old coins selling for $40 less per ounce than modern 1/10 ounce equivalents ~

The least expensive antiquity on a per ounce basis we’ve ever had the pleasure of offering…


Only 500 available.  First-come, first-served.
If you have ever participated in these special offers, you probably already know how quickly they can sell out.

You can order by phone:
1-800-869-5115
Ext#100

––or––

You can
Scroll down to “Current Specials”
If you haven’t yet set up an account, it only takes a few moments. New accounts will be approved within thirty minutes of request during normal business hours, and first thing tomorrow if you sign-up tonight.


Thank you for supporting this page and the USAGOLD website!

 

 

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Gold down early, selling in Europe sets pace

Early Report

Gold continued to sail choppy waters in early trading –  down $8.53 at $1311.72.  Silver is down 12¢ at $16.96.  At the moment gold is bouncing back from the $1310 low posted about an hour ago.  Odd, when compared to intraday trading patterns over the last several months, that gold would trade down with the Japanese yen moving up firmly against the dollar.  With that in mind, we will attribute today’s downside to technical selling in the futures’ markets having to do with profit taking on recent strength, a situation which could render the downside temporary.  Most of the selling came during European trading hours.  Gold has staged a minor recovery since U.S. markets opened.

Chart of the Day
As you can see, the dollar and gold trade inversely against one another.  The question becomes “Will current Federal Reserve interest rate policies, and the attitude of the Trump administration with respect to the dollar, lend themselves to a weaker dollar in international markets?”  If you believe the answer to that question is “Yes”, then you might want to proceed to the post immediately below. . . .

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Where to buy gold in today’s complicated precious metals marketplace

Let’s say that you have determined that the right side of the chart above represents the beginning of a trend and that gold and silver look like solid alternatives for the future.

What next?

Well, you might then consider how to go about choosing a gold firm with whom you can safely make purchases and subsequently sales.  If that is the case, you might take interest in a page here at USAGOLD that gets a considerable amount of attention among searchers trying to choose a gold firm.  It is aptly titled ––

How to choose a gold firm
A quick guideline for beginning investors

–– and it is a Question & Answer session with Michael J. Kosares, author of  The ABCs of Gold Investing – How To Protect and Build Your Wealth with Gold and the founder of USAGOLD.

It is surprising how many prospective investors simply dive into gold and silver investing without much in the way of a consumer inquiry. That lack of simple due diligence has ended up costing a good many investors thousands of dollars, and sometimes even hundreds of thousands, before the damage is detected. At the page linked above, you will find some brief but valuable guidelines to help you choose the right gold and silver company. It might be the most important decision you will make on the road to becoming a gold and silver owner.

 

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Gold starts year on a positive note, fourth straight week of gains

LATE REPORT

Gold backtracked a bit today finishing down $3.12 at $1319.25. All in all, though, it was a respectable first week of the year for the yellow metal as it posted a $16.35 gain.  Similarly, silver traded sideways today but finished the week up 27¢ at $17.19. It was the fourth straight week of gains.

As we go into the weekend, one piece of news surfaced of more than average interest to gold owners:  The U.S. trade deficit was up 3.2% at $50.5 billion, the biggest gap in six years.  Coming after a year of declining value for the dollar, it suggests room for further downside in 2018 and, for gold, a good reason to strengthen.

Quote of the Day
“I recall an offstage debate David Rosenberg (GluskinSheff), David Zervos (Leucadia Asset Management), and I had in Florida two or three years ago. They were arguing that the economy would not weaken until we had an inverted yield curve. And my question was, quite simply, ‘How can we have an inverted yield curve, since the Fed is going to hold rates down almost forever because of the risk of their rising and thereby making the economy worse?’ And they assured me that the Fed would eventually get around to raising rates, probably by too much, and that we would then get an inverted yield curve and could start thinking about storm shelters. It looks like they were right.” –  John Mauldin, Mauldin Economics


News & Views went out to our current and prospective client lists Wednesday, so it is about as fresh off-the-shelf as it is going to get. The Gold Owner’s Guide to 2018, our lead article, is now available to the public as a result. If you would like to read what we have to say about the coming year, your interest is welcome.

You can sign-up for immediate access HERE.

And as a bonus, you will also receive our in-depth investor information packet as well.

 

 

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Gold’s blustery day

LATE REPORT

Gold had a blustery day.  Facing headwinds yesterday, the direction switched and gold suddenly had the wind at its back today. “In the 15 minutes ended 8:30, gold-futures volume spiked on the Comex in New York, with contracts equal to more than 2.8 million ounces of the metal changing hands. That’s almost eight-fold the 100-day average volume for that time of day,” reported Bloomberg.

The end result?  Gold was up $9.45 on the day at $1322.37 after suffering a $4.40 loss the day before, and after getting as low as $1305 in the overnight market.  Silver caught only a breeze in its sails today, up 10¢ at $17.18.  It got as low as $16.95 overnight.

Investors are buying the dips and last night it started in the European markets.

Quote of the Day
“In the real world, physical gold is in short supply. We believe that mine production has peaked out and is likely to decline for the next three to five years. Even an unexpected sharp price increase would not change the glide path of forward production because capital, environmental, and political headwinds are lined up against building new mines. Demand, notwithstanding minor year-to-year fluctuations, is on a steady growth path. Only the continual liquidation of above-ground inventories stored in London or other Western vaults over the past several years has prevented the mismatch between supply and demand from driving the gold price higher.” – John Hathaway, Tocqueville


News & Views went out to our current and prospective client lists yesterday, so it is about as fresh off-the-shelf as it is going to get.  The Gold Owner’s Guide to 2018, our lead article,  is now available to the public as a result. If you would like to read what we have to say about the coming year, your interest is welcome.

You can sign-up for immediate access HERE. 

And as a bonus,  you will also receive our in-depth investor information packet as well. 

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Gold up $14 on the day and $75 from the December lows

LATE REPORT

Gold started the year on solid footing today up almost $14 and finishing at $1317.30. Silver also had a good start to the year, up 22¢ at $17.14. Using our FOREX table as a reference, as of tonight gold has traded higher twelve sessions in a row and $75 higher than the December low of $1241.90.

Much of what has driven the metal has to do with oversold conditions at the lows, but dollar weakness has also contributed to the positive psychology for the metal.  2017 was the dollar’s worst year since 2003 – a year at the very beginnings of gold’s secular bull market.  ABN Amro analyst Georgette Boele hit on two themes as reasons for gold’s rise: “The dollar is the most important driver, and then real yields. The Fed is increasing rates, but the dollar’s not profiting.”

For a deeper understanding of what is driving the precious metals markets, please scroll immediately below.  There is good run of informative posts worth reviewing.  You might also want to try our January client letter featuring The Gold Owner’s Guide to 2018. (NEWS & VIEWS)

Quote of the Day
“We usually make major mistakes when we’re driven by emotions… especially when those emotions are fear, greed, or ego. . .We also make major mistakes when we totally misjudge (or fail to see) obvious risks. Yet risk assessment is far from rocket science:  If your government is bankrupt, it probably makes sense to diversify a bit. If assets are trading at record high valuations, it might make sense to consider taking some money off the table. Simple.” – Simon Black, Sovereign Man


If you haven’t visited our new Online Order Desk as yet, we invite you to take a test drive. We have been surprised by its instantaneous popularity and the number of clients who have already placed their first order.  One of its most useful features is that you can order anytime day or night and on weekends.  The state of the art system updates prices continuously, and we have a good selection of items available typical of most safe-haven precious portfolios. We invite your visit and your participation.

Great prices. Quick delivery. All the time.
Modern gold and silver bullion coins and bars
Historic fractional gold coins (bullion-related)
Historic U.S. gold coins

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Gold, Silver Predictions 2018

A major shift in sentiment will drive prices in the new year

by Michael J. Kosares

With such a solid end to 2017, it prompts the question what we might expect of gold in 2018. The most immediate question is whether or not it will pick up where it left off 2017 and continue its climb into the New Year, or fizzle and spend the year going sideways or worse, down. I have refrained from the perennial turn of the year prediction sweepstakes for a number years, but I will venture out on the limb this year to say a price in the mid-$1500s looks achievable in 2018.

Coming off two successive positive years, gold seems to be building toward something. Fizzling or dropping seem unlikely given 2017’s surprise performance and the general state of global equity markets – most of which seem to be overpriced, overloved and over the top. 2017 will be recorded as a transition year for gold; 2018, in my opinion, will go down as the year gold reasserted itself as a primal force in the global financial marketplace.

I base that opinion not so much on the fundamentals or a technical reading of the charts – or anything overly scientific for that matter, but rather on a gut feeling that comes with being in the gold business for 45 years. When all is said and done for 2018, after all the factors have been weighed and measured, I see sentiment – a thing that cannot be measured or weighed – emerging as the principal determinant for gold in 2018.

Investment capital is forever rummaging around for an opportunity and smart money will always find what is undervalued. That in a nutshell is what gold has going for it as we enter the new year. In 2017, we saw the first signs of a sentiment-driven, smart money migration to gold – a vanguard led by professional investors who govern institutional trading desks and manage multi-billion dollar hedge funds. In 2018, cash-flush private investors, absent the past year, will join with professional money in the pursuit of gold both in physical and paper forms. That should be enough, in my view, to generate a 20% improvement from December’s closing number and put the price in the $1550-$1560 range.

As for silver, I would not be surprised to see it trading over $22 at some point during the course of the new year – the equivalent of a 30% price increase. It has a history of outperforming gold on both the upside and the downside, and this time around is unlikely to be an exception. Silver will also continue to benefit from its new role as a safe-haven asset and junior partner to gold in the asset preservation business.


News & Views

Forecasts, Commentary & Analysis
on the Economy and Precious Metals

January, 2018 Edition
“The Gold Owner’s Guide to 2018”

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+ e-mail notification on future publication dates.


Michael J. Kosares is the author of The ABCs of Gold Investing – How To Protect and Build Your Wealth with Gold and the founder of USAGOLD.
Disclaimer – Opinions expressed on the USAGOLD.com website do not constitute an offer to buy or sell, or the solicitation of an offer to buy or sell any precious metals product, nor should they be viewed in any way as investment advice or advice to buy, sell or hold. USAGOLD, Inc. recommends the purchase of physical precious metals for asset-preservation purposes, not speculation. Utilization of these opinions for speculative purposes is neither suggested nor advised. Commentary is strictly for educational purposes, and as such USAGOLD does not warrant or guarantee the the accuracy, timeliness or completeness of the information found here. (Please see our Risk Disclosure here.)

 

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Happy New Year

Wishing all a happy, prosperous and healthy 2018!
from the staff at USAGOLD

 

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Solid uptrend ends day, week, month, year on positive note

LATE REPORT

Gold finished the day, the week, the month and the year solidly in positive territory.

On the day, it was up $8.12 or .6%
On the week, it was up $28.35 or 1.02 %
On the  month, it was up $28.16 or 1.02%
And. . . last but not least, on the year it was up $152.00 or 13.2%.

Closing price:  $1302.90

Silver also finished the day, the week, the month and the year in positive territory, but not quite as spectacularly as did gold.

On the day, it was up 7¢ or .4%
On the week, it was up 55¢ or 3.4%
On the  month, it was up 54¢ or 3.2%
And. . . on the year, it was up $152.00 or 6.4%.

Closing price:  $16.92

For gold, it was the best year since 2011, the second straight year of posting gains and one that evolved despite a strong stock market, the constant threat of rising interest rates and, rightly or wrongly, an optimistic start to the Trump administration in terms of business and finance.

Quote of the Day
“Large speculators have made a record shift in their positioning for the last two weeks. In the latest week, they reduced their net longs by 66,000 contracts after a reduction of ~51,000 contracts the previous week. This group of traders is usually considered trend-followers. The extreme positing by this group may provide a clue to a changing trend.  In contrast to speculators, commercial traders and bullion banks have reduced their net short positions in gold. This group of traders is usually referred to as smart money. When this category hits the bottom in short interest, prices usually rise. It has been hailed as an indicator that gold prices could have an advantage as we enter 2018.” – Annie Gilroy, Market Realist


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