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Three Gold Awards for Eden Resort and Spa14:31
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Gold Is Going Up: Pay Attention To Fed Rate Hikes-Gold Relationship Says Peter Hug14:10
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Don’t Just Look At Gold; Opportunities In Zinc, Copper, Lithium Says Brent Cook14:00
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"Big Moves" Are Ahead For Gold - Auryn Resources CEO13:51
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Gold Price Is Facing Triangle Pattern Resistance13:11
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Gold settles lower after the Senate approved a bill to end the government shutdown12:09
Gold Flat As Senate Funds Government11:49
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Mining production roundup: Gold Resource, Orvana, Excellon11:30
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Gold, Silver Weaker Amid Profit Taking, Chart Backing and Filling11:29
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Genesis (TSXV: GIS) Drilling Returns 8.73 g/t Gold Over 21.35 m From Chevrier Main Zone11:16
Gold Market Consolidates Near Important Levels As US Government Shuts Down10:59
ePower Metals Inc. (TSXV: $EPWR) Reports Cobalt, Gold and Copper Results from Panther Creek Cobalt Project, Idaho and Announces Winter Program10:46
Earlier Today
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Whistleblower sues EY over Dubai gold refinery scandal10:39
Accountancy Age - Practice
The Gold Cartel, Sex Scandals, and GATA10:28
Silver Is The Key To Gold Breaking 2016 Highs - Analyst10:08
Kitco - Focus
Randgold Resources Expects Kibali Gold Mine In Production In 201809:58
London South East
Gold Prices in 2018 Will Rise Despite a Government Shutdown09:54
Money Morning
Two Factors for Gold That You Don't Want to Miss09:36
Will 2018 Be Gold's Breakout Year? - Peter Hug09:28
Kitco - News Bites
Gold Set Up For Big Move This Year – What About Cryptos?09:28
Gold Market Consolidates Near Important Levels as Government Shuts Down09:28
Anaconda Sitting on a Gold Mine09:16
SWOT Analysis: Will Gold Continue to Rally Into the Chinese New Year?09:08
Gold retreats from session highs, eases toward $1330 on USD recovery08:49
Hedge Funds Still Buying Gold, But Momentum Is Fading08:48
Kitco - Focus
Gold likely to test five-year highs this year08:38
Scrap Register - Metal News
Why Lowe's Companies, Inc. Could Be a Gold Mine for Income Investors08:08
The Motley Fool
Gold Market Consolidates Near Important Levels as Government Shuts Down07:48
Money Metals Exchange
Bitcoin backwardation, gold contango07:47
Incentivise banks to promote gold monetisation: India Gold Policy Centre07:41
The Business Standard - Economy-Policy
Canamex Gold welcomes international currency systems expert as director07:29
Proactive Investors (USA & Canada)
Performance of Iran’s gold & currency markets on Jan. 2207:17
Trend News Agency - Economy News
Could Gold Stocks Be the Big Story in 2018?06:57
The Motley Fool (Canada)
Two Factors for Gold That You Don’t Want to Miss06:47
Gold Fails To Break Out; Let The Selling Begin06:46
Kitco - News Bites
Exclusive: World Gold Council investigates standard for gold kilobars06:30
Reuters.co.uk - Commodities
Gold churns lower as markets await next move from stalled Congress06:27
MarketWatch - Markets
Gold Prices Slightly Down Amid Chart Consolidation06:27
Kitco - News Bites

by Michael J. Kosares

EARLY REPORT 1-22-2018

Gold is sideways in afternoon New York trading at $1333. Silver is also running sideways at $17.01. Now, with the latest federal government shutdown non-event now behind us – the nineteenth scare since the mid 1970s and counting – the markets seem to be looking for direction. The dollar is a mixed bag trading down against European currencies and up against their Asian counterparts.

Chart of the Day

Chart notes: On April 9th, 2011, Congress averted a shutdown with a patchwork deal very much like the one engineered last night and announced this morning. On that day gold, as shown on the chart, was trading at $1462.  Though disaster appeared to have been put on hold, gold investors were not convinced. The price in the ensuing months continued to track higher registering one all-time after another. That August, with gold trading at $1721, Standard & Poor's dropped the hammer on the U.S. government's credit rating saying that "the effectiveness, stability, and predictability of American policy-making and political institutions have weakened at a time of ongoing fiscal and economic challenges. . ." By September it reached its all-time high near $1900 per ounce – 30% higher than April's pricing.

Though the financial markets were in a very fragile state in 2011, American political institutions today are no more effective, stable and predictable than they were then. One wonders, with that in mind, how S&P might view this latest go-around. By the way, if gold were to replicate its April to September 2011 performance, it would end up trading in the vicinity of $1730 per ounce.

 LATE REPORT 1-19-2018

Gold ended the day on a high note finishing up almost $5 on the day at $1331.67. Silver also finished the day on a positive note, up 7¢ on the magic $17.00 mark.  Gold turned positive last night in Asian trading in concert with a strong Japanese yen and stayed positive through the U.S. trading session. We note that gold at one point in the day's trading flirted with the $1338 level before reversing to close on the day's lows.

On the week, gold was down $6.  Silver was down 22¢. For a week that began with cleaning out the dead timber (short term profit-takers), it didn't end all that badly as the buyers returned.  For gold though, it was the end to a five week winning streak.

If you spend time in the mountains, you learn to respect the destructive power of an avalanche. . . . . .

Quote of the Day
"Last weekend I was in the Swiss Alps in the village of Zermatt at the base of the famous Matterhorn. For several days we had a relentless snowfall not seen for decades. The snow blocked the access to the village both by train and road for several days. The force of this avalanche was of a magnitude that destroyed everything in its way.  This is exactly what we will experience in the world economy and financial markets in coming years. Most avalanches occur spontaneously due to the increased load of snow. Eventually that last snowflake and the weight of the snow triggers the avalanche. . . The force of the financial avalanche coming will be similar to the the avalanche we just had in Zermatt. It is so powerful that everything in its way will be destroyed. And no human intervention can stop it." – Egon von Greyerz, Matterhorn Asset Management


EARLY REPORT 1-19-2018

Gold firmed in early trading today at $1333.46, up $6.60. Silver is up 8¢ on the day at $17.01.  Both began their recoveries in Asian markets overnight following cues from a strengthening Japanese yen. As reported here regularly, gold and the yen have become traveling partners – their fortunes tied nearly lock-step to whatever vagaries affect the value of the U.S. dollar.

Aside: If the press is to be believed, the markets have only one thing in mind these days and that is whether or not the politicians can lay aside their differences long enough to keep the U.S. government in operation. The recognizable problem is that what the politicians seem to be feuding about has more to do with their pet social issues and various palace intrigues than it does with the dirty business of revenue, spending, deficits and the burgeoning national debt, which, by the way, is perilously near the $20.5 trillion mark.  The latter is where the debate should be focused, but you do not see much discussion along those lines, at least insofar as it is reported on the financial pages.  We, however, believe that there is much more affecting these markets than Washington's machinations – stuff of a more visceral and fundamental nature with respect to individual finances and investment – and that is where we will focus our attention on these pages.

Chart of the Day

Chart note:  The one-year chart on gold shows a positive pattern of rising lows and highs – an inherently bullish trend though not a guarantee of future price action.

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Michael J. Kosares is the founder of USAGOLD, author of The ABCs of Gold Investing - How To Protect and Build Your Wealth with Gold (Three editions), and editor of the firm's monthly newsletter. He has also written numerous published articles and essays on the gold market.


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