Author Archives: USAGOLD

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

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.

Here 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.

To end right, start right.
Choose the right portfolio mix with the right firm at the right price.
Choose USAGOLD
Reliably serving physical gold and silver investors since 1973.
Posted in ClientInsights, Today's top gold news and opinion | Tagged |

Ask the Governor about the future of money

Bank of England/Mark Carney

“For example, EMEs’ share of global activity is now 60%, but their share of global financial assets lags behind at around one-third. And half of international trade is currently invoiced in US dollars, even though the US has a much lower 10% share of international trade. As the world re-orders, this disconnect between the real and financial is likely to reduce, and in the process other reserve currencies may emerge. In the first instance, I would expect these will be existing national currencies, such as the RMB. However, history suggests these transitions will not happen overnight. The US economy overtook Britain’s in the second half of the 19th century, but it took until the 1920s before it became a dominant currency in international trade.”

USAGOLD note:  Remarkably candid and detailed assessment from the Governor of the Bank of England throughout this Q&A with the public.  He covers a wide-range of topics and states what he has to say without the usual central bank-speak we get as a matter of course. His comments on China’s yuan though will take many by surprise. He does not see much of future for cryptocurrencies, at one point stating that they “currently are not promising even as a form of money let alone as a global currency.” In response to a question about banking the IMF’s SDR with gold, he makes the following comment:

“It would be undesirable to base the value of a global currency on gold. Under the Bretton Woods system – the international system of linking exchange rates to the US dollar which was pegged to gold existing from 1944 to 1971 – there was a fundamental tension in that the global supply of gold did not grow in line with the global demand for money. This tension peaked in the early 1970s and the system collapsed. Since then, major economies have moved towards a system of floating exchange rates, and the basis for the SDR’s valuation has also been switched from gold to the more stable arrangement of valuation based on a basket of currencies.”

Such thinking underscores the flaw in the SDR as a store of value, and why it will never replace gold as the primary asset of last resort on central bank balance sheets.  The great mistake made by the Bank of England, or better put the British government, was to encourage and sponsor the sale of a good portion of UK’s gold reserve at the turn of the century.  In the throes of Brexit, there are many within Britain, no doubt, who would rather see that gold sitting on the BoE’s balance sheet rather than someone else’s.


Repost from 1-11-2019

Posted in Today's top gold news and opinion |

Short and Sweet

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Worry about the return ‘of’ your money,
not just the return ‘on’ it

“To be fair, the fiscal side of our current system has been nonexistent. We’re not all dead, but Keynes certainly is. Until governments can spend money and replace the animal spirits lacking in the private sector, then the Monopoly board and meager credit growth shrinks as a future deflationary weapon. But investors should not hope unrealistically for deficit spending any time soon. To me, that means at best, a ceiling on risk asset prices (stocks, high yield bonds, private equity, real estate) and at worst, minus signs at year’s end that force investors to abandon hope for future returns compared to historic examples. Worry for now about the return ‘of’ your money, not the return ‘on’ it. Our Monopoly-based economy requires credit creation and if it stays low, the future losers will grow in number.”

Bond-fund guru Bill Gross posted that piece of advice in his Investment Outlook column back in 2016.  It still applies today – maybe even more so now than it did then. In the wealth game, emphasize defense when you need to, offense when it makes sense. At all times, remain diversified. And by that, we mean real diversification in the form of physical gold and silver coins and/or bullion outside the current fiat money system. There is nothing wrong with owning stocks and bonds. Realize though that these assets are denominated in the domestic currency.  If it erodes in value, the underlying value of those assets erodes along with it.  A proper diversification addresses that problem now and in the future.  Bill Gross, by the way, has recommended buying gold on a number of occasions over the years.

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Posted in Short and Sweet, Today's top gold news and opinion | Tagged |

What you need to know before you launch your gold and silver IRA

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“A customer of mine who is 55 years old recently asked if it was not too late for him to get into precious metals. The answer is no—it is not too late to invest in gold and make a profit at any age. Quite the contrary, with the market showing the early signs of a correction, it is, in my humble opinion, a perfect time to invest in precious metals.” – Oliver Garret, Forbes

Time to diversify?
How to hedge market uncertainty in your
retirement plan with gold and silver

As the ultimate asset preservation vehicles, gold and silver are also important retirement investments especially in these precarious times. Find safe harbor –– and some retirement peace of mind.

To end right, start right.
Choose the right portfolio mix with the right firm at the right price.
Choose USAGOLD serving gold and silver investors since 1973

We have helped hundreds of investors include precious metals in
their IRA and other retirement plans. We can help you.


Coins & bullion since 1973

1-800-869-5115
Ext#100

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Posted in ClientInsights, Today's top gold news and opinion |

Short and Sweet

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Gold coins, hoofs found in 2,000 year old Chinese tomb

“Chinese archaeologists. . . discovered 75 gold coins and hoof-shaped ingots in an aristocrat’s tomb that dates back to the Western Han Dynasty (206 BC – 24 AD). The gold objects — 25 gold hoofs and 50 very large gold coins — are the largest single batch of gold items ever found in a Han Dynasty tomb. They were unearthed from the tomb of the first ‘Haihunhou’ (Marquis of Haihun) in east China’s Jiangxi Province. The coins weigh about 250 grams each, while the hoofs’ weights vary from 40 to 250 grams, said Yang Jun, who leads the excavation team.” – Xinhuanet/11-17-2015

USAGOLD note: These gold artifacts were found along with a portrait of Confucius, perhaps the oldest known. Wisdom and gold make easy company. Confucius once said something that has current applicability:  “In a country well governed, poverty is something to be ashamed of. In a country badly governed, wealth is something to be ashamed of.”  Or at the very least, well-hedged . . . . . . . .

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Posted in Short and Sweet | Tagged , , |

USAGOLD Special Report

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Gold’s Century
While stocks dominated headlines, gold quietly performed
by Michael J. Kosares

Over the last nearly two decades, gold has been in a secular bull market. Many believe that we are now on the verge of a second leg in its ascent. This article reveals nine little known and surprising facts about gold’s price performance since 2001 and tells why we are living in gold’s century, not the stock market’s.

–– Full Article ––

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Posted in Announcements, Gold and Silver Price Predictions from Prominent Players, Premium Bulletin Board, Today's top gold news and opinion |

Gold specs continue to push bullish bets higher this week

Through Tuesday, June 18, 2019
Charts and commentary courtesy of CountingPips.com
Tables courtesy of GoldSeek

Note: Commitment of Traders reports are published Friday with data from the previous Tuesday.


Gold specs continue to push bullish bets higher this week

Gold Non-Commercial Speculator Positions:

Large precious metals speculators once again boosted their bullish net positions in the Gold futures markets this week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.

The non-commercial futures contracts of Gold futures, traded by large speculators and hedge funds, totaled a net position of 204,323 contracts in the data reported through Tuesday June 18th. This was a weekly rise of 20,085 net contracts from the previous week which had a total of 184,238 net contracts.

The week’s net position was the result of the gross bullish position (longs) growing by 24,519 contracts (to a weekly total of 274,633 contracts) while the gross bearish position (shorts) increased by 4,434 contracts for the week (to a total of 70,310 contracts).

The large speculator position has surged higher for a third straight week and by a total of 117,635 contracts over just that period. The gold speculative position was recently as low as +37,395 contracts on April 23rd before sentiment turned and has taken off. A record weekly rise on June 4th has helped push bullish bets sharply higher and the current speculator standing now sits at the best level since January 30th of 2018.

Gold Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -223,855 contracts on the week. This was a weekly drop of -21,828 contracts from the total net of -202,027 contracts reported the previous week.

Gold Futures:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the Gold Futures (Front Month) closed at approximately $1350.70 which was a rise of $19.50 from the previous close of $1331.20, according to unofficial market data.


Silver speculators further boosted their bullish bets for a 3rd week

Silver Non-Commercial Speculator Positions:

Large precious metals speculators raised their bullish net positions in the Silver futures markets this week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.

The non-commercial futures contracts of Silver futures, traded by large speculators and hedge funds, totaled a net position of 14,516 contracts in the data reported through Tuesday June 18th. This was a weekly gain of 11,856 net contracts from the previous week which had a total of 2,660 net contracts.

The week’s net position was the result of the gross bullish position (longs) rising by 8,050 contracts (to a weekly total of 93,275 contracts) while the gross bearish position (shorts) dropped by -3,806 contracts for the week (to a total of 78,759 contracts).

This week marked the third straight week of gaining bullish positions and has pulled the overall net position level from -8,443 contracts on June 4th to a bullish level of 14,516 contracts this week.

Previously, the large speculator position had deteriorated from a strong bullish level in February (a peak of +58,313 contracts on Feb. 26th). Bullish bets declined throughout April and dropped into an overall short position on May 7th. The sentiment continued lower throughout May and culminated at a low of -22,409 contracts on May 28th.

Silver Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -34,487 contracts on the week. This was a weekly drop of -9,296 contracts from the total net of -25,191 contracts reported the previous week.

Silver Futures:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the Silver Futures (Front Month) closed at approximately $1499.30 which was a rise of $25.30 from the previous close of $1474.00, according to unofficial market data.


US Dollar Index speculators raised bullish bets

US Dollar Index Speculator Positions

Large currency speculators raised their bullish net positions in the US Dollar Index futures markets this week while also sharply cutting back on bearish bets in the Japanese yen and the euro, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.

The non-commercial futures contracts of US Dollar Index futures, traded by large speculators and hedge funds, totaled a net position of 28,549 contracts in the data reported through Tuesday June 18th. This was a weekly advance of 4,560 contracts from the previous week which had a total of 23,989 net contracts.

This week’s net position was the result of the gross bullish position growing by 3,434 contracts (to a weekly total of 40,319 contracts) while the gross bearish position fell by -1,126 contracts for the week (to a weekly total of 11,770 contracts).

The large speculators added to their bullish bets for the dollar after decreasing their positions in the previous two weeks. The gain brought the overall long position to the highest level in seven weeks and above +28,000 contracts.


*COT Report: The COT data, released weekly to the public each Friday, is updated through the most recent Tuesday (data is 3 days old) and shows a quick view of how large speculators or non-commercials (for-profit traders) as well as the commercial traders (hedgers & traders for business purposes) were positioned in the futures markets. The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually small traders/speculators). Find CFTC criteria here: (http://www.cftc.gov/MarketReports/CommitmentsofTraders/ExplanatoryNotes/index.htm).
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Posted in COT Reports |

COT– Gold specs continue to push bullish bets higher this week


–– Now posted ––
Commitment of Traders reports for Tuesday, June 18, 2019
GOLD • SILVER • US DOLLAR INDEX

Commentary by Zac Storella, CountingPips

[LINK]


Posted in Announcements, Today's top gold news and opinion | Tagged |

USAGOLD’s Online Order Desk

Great prices. Quick delivery. All the time.
We invite your visit and participation.

Our Online Order Desk offers state-of-the-art transactional technology that allows you to order anytime day or night and on the weekends at current gold and silver spot prices from your desktop, pad or mobile device.  The items presented for sale are among the most popular with investors and are organized into four broad categories of investor interest:

Modern gold coins and bars
American Eagle • American Buffalo • Canadian Maple Leaf • Austrian Philharmonic • South African Krugerrand • Australian Kangaroo

Modern silver bullion coins and bars
American Eagle • Canadian Maple Leaf • Austrian Philharmonic • United States Pre-1965 Silver Coin Bag • Silver Bullion Bars • United States Morgan and Peace Silver Dollar

Historic fractional gold coins
British sovereign kings • Swiss 20 franc • Dutch 10 guilder • German 20 marks • Select inventory currently available

Historic U.S. gold coins
$20 Liberty • $20 St. Gaudens • $10 Liberty • $10 Indian • Graded $20 Liberty and St. Gaudens – Mint State 63, 64 and 65

If you haven’t visited our Online Order Desk as yet, we invite you to take a test drive. We are surprised by its instantaneous popularity and the large number of clients who have already placed their first order. 


An important note on Special Offers

For those among our regular clientele who like to participate in our Special Offers, the Online Order Desk presents a clear advantage.  Because the number of items available is almost always limited and orders are reserved on a first-come, first served basis, the online system provides the opportunity to secure your orders quickly and confidently at your convenience any time day or night.  As our regular participants already know, these offers can sell out quickly – often within 24-hours of announcement.  If you have not already registered, some advance planning might be in order.


Posted in ClientInsights, Today's top gold news and opinion |

Short and Sweet

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Gold in six easy lessons

1. Don’t buy it because you need to make money; buy it to protect the money you already made.

2. Don’t look at price as a barrier; look at it as an incentive.

3. Don’t buy the paper pretenders; buy the real thing in the form of coins and bullion.

4. Don’t fall prey to glitzy TV ads; do your due diligence instead.

5. Don’t allow naysayers to divert your interest; allow yourself the right to protect your interests as you see fit.

6. Don’t forget the golden rule: Those who own the gold make the rules!

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Posted in Short and Sweet, Today's top gold news and opinion | Tagged |

Worth a revisit . . .

NEWS & VIEWS
Forecasts, Commentary & Analysis
on the Economy and Precious Metals

June, 2019


Gold breaks to the upside
COMEX speculator positions post largest single gain on record

The June issue of News & Views takes a look at the sea-change occurring in the Commitment of Traders numbers for gold through the eyes of Zac Storella, an expert COT analyst.  It also delves into the changing sentiment toward gold among professional money managers and small private investors alike. A few days after the newsletter’s release, another billionaire, Paul Tudor Jones, joined the group on Billionaire’s Row advocating gold ownership. The newsletter, in toto, is worth revisiting now. . . .particularly in light of the past two days’ events.

[LINK]

[FREE SUBSCRIPTION sign-up]

If you appreciate analysis that is a bit off the beaten track and concentrates on the long term merits of gold and silver ownership, you might appreciate receiving our monthly newsletter on an on-going basis. It is offered free-of-charge as a service to our regular clientele and as a courtesy to prospective clients.


Posted in Announcements, Premium Bulletin Board, Today's top gold news and opinion | Tagged |

USAGOLD – Quality service and pricing since 1973

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USAGOLD ranks among the most reputable gold companies in the United States with several thousand clients and multi-millions in annual revenue. Founded in the 1970s and still family-owned, we are one of the oldest and most respected names in the gold industry. Our unblemished, zero-complaints record and solid reviews with the Better Business Bureau testify to the exceptional customer service and professional excellence which sets us apart from the competition.

USAGOLD specializes in gold and silver coins and bullion delivered to our client’s safekeeping. For over 45 years, we have resolutely advocated owning precious metals for asset preservation purposes rather than speculation. Admittedly, this philosophy does not resonate with all prospective gold and silver owners, but if it does with you, we think you will find our firm a kindred spirit.

When it comes time to pursue your first (or next) purchase, we invite you to learn first-hand why so many have chosen USAGOLD as their precious metals firm.

Call or drop us an e-mail.

1-800-869-5115
Ext#100
orderdesk@usagold.com


To end right, start right.

Choose the right portfolio mix with the right firm at the right price.
Choose USAGOLD – reliably serving physical gold and silver investors since 1973.

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Posted in ClientInsights, Today's top gold news and opinion |

Better Business Bureau Five Star Review

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Recent Better Business Bureau Client Review

Scorecard: 38 45 48 53 five star reviews. Zero complaints.
A+ rating. Accredited since 1991.

“We were first time gold investors. In search for information we came across their web site, which is excellent. When we contacted them, Jonathan Kosares lead us through the process. He provided information, suggested gold coins, but did not direct how we invested. He is always available to answer questions. The service has been excellent. Their business practices have been outstanding. We have absolute faith the company. They are the best investment company we have ever dealt with.”

John G.

[Link]

USAGOLD Recommendation: The precious metals industry is unique in the financial industry in that it is not subject to oversight or regulation by third-party government entities like the SEC or CFTC. As such, marketplace forums and feedback sites often serve as a replacement for investors attempting due diligence. While several options can be found, by far the most impartial and least susceptible to vested influence is the Better Business Bureau. When looking at a company’s BBB profile, don’t focus solely on the rating. To be honest, pretty much everybody has an ‘A’ or ‘A+’ rating. What is far more important to assess is the number and nature of complaints, number and caliber of positive and negative reviews, longevity with the BBB, as well as the number of ‘stars’ given a company through the actual customer review system.

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Posted in ClientInsights, Today's top gold news and opinion |

Short and Sweet

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Copernicus on the debasement of money

“Although there are countless scourges which in general debilitate kingdoms, principalities, and republics, the four most important (in my judgment) are dissension, [abnormal] mortality, barren soil, and debasement of the currency. The first three are so obvious that nobody is unaware of their existence. But the fourth, which concerns money, is taken into account by few persons and only the most perspicacious. For it undermines states, not by a single attack all at once, but gradually and in a certain covert manner.” – Copernicus, Essay on the Coinage of Money (1526)

Few know that Copernicus applied his genius to the insidious effects of currency debasement. The ground-breaking essay linked above probably influenced both John Maynard Keynes (See below) and Thomas Gresham of “bad money drives out good” fame. Supply Side Blog’s Ralph Benko says Copernicus’ essay has been translated into English several times yet those translations remained difficult to obtain for students of the monetary arts and sciences.  It has remained mostly the property of elite historians.” Above we link Edward Rousen’s translation that you might keep company with the knowledgeable elite.

It cost 8¢ to mail a one-ounce letter in 1973 as indicated by the commemorative Copernicus stamp shown above.  It costs 55¢ today – an illustration of his assertion that currency debasement “undermines states, not by a single attack all at once, but gradually and in a certain covert manner.”  The post office increased the cost of mailing a letter by 5¢ – to 55¢ – beginning in 2019.


“By a continuing process of inflation governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By this method they not only confiscate, but they confiscate arbitrarily; and, while the process impoverishes many, it actually enriches some. The sight of this arbitrary rearrangement of riches strikes not only at security, but at confidence in the equity of the existing distribution of wealth.” – John Maynard Keynes, The Economic Consequences of Peace (1919)

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Posted in Short and Sweet, Today's top gold news and opinion |

MEMBER ALERT
Exclusive Premium Bulletin Board updates now posted.


Not a member?  We invite your interest.  Please sign-up here!

Can’t find your link? Request re-issue here.

 

Posted in Announcements, Today's top gold news and opinion | Tagged |

Favorite web pages

Daily gold and silver price history
1968 to present

Our Daily Gold and Silver Price History pages are among the heaviest traffic pages at the USAGOLD website. The archived data is licensed from the ICE Benchmark Administration and the London Bullion Market Association and Netdania Creations and run from 1968 to present.  FOREX prices for the day are posted as a live feed and then frozen at the end of each trading day.  These pages are frequented by data gatherers of all descriptions from professors and their students to market professionals and investors – all interested in gold’s price performance both over the long run and within specific time constraints for their own research purposes.

Daily Gold and Silver Price History is another of the quiet pages at USAGOLD that garners significant global interest particularly when the market is moving or breaking news warrants more than average interest. We also invite you to return here regularly – to this Live Daily Newsletter page – for up-to-the-minute gold market news, opinion, and analysis as it happens.

We invite your visit.  We encourage your bookmark.

GOLD • • • SILVER

USAGOLD’s
Daily gold and silver price history pages

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Posted in Favorite web pages, Today's top gold news and opinion | Tagged |

Short and Sweet

TECH ANALYST
Gold could go to $1800 to $2200 in the long run

A number of technical analysts have reverted to a more bearish forecast over the past few weeks with the $1250 area once again being touted as the downside support area.  Many of those same technical analysts, though, have a significantly more positive outlook for the longer term.

Among that group is Gary Wagner of the Wagner Financial Group who sees $1267 or even $1247 as possibilities in the short run, but also forecasts the possibility of $1800 to $2200 in the longer run.  “Our research,” he explains in an article published recently at the Singapore Bullion Market Association website, “suggests that gold is in the final phase of a major long-term impulse cycle. This model also provides a look-back at the final major bullish wave could be traced back to end of 2015, following a correction to $1,040. This corrective fourth wave developed from the all-time high at $1,900 in 2011. The model suggests that gold could re-test the record highs that, if taken out, could see an extensive surge to between $1800 and $2200 per troy ounce.”

Caveat: At USAGOLD, it bears repeating, we have always advocated the ownership of both gold and silver coins and bullion for long-term asset preservation purposes rather than speculative gain.  Though we pass along various projections, we do so with the caveat that anything can happen.  The analyst who forecasts downside today can quickly change his or her outlook to the upside tomorrow – or vice versa.  The long term charts for gold and silver, though, reveal a consistent upward trend that has served investors well in the period since 1971 when the global monetary system departed the gold standard and entered the fiat money era.

Posted in Gold and Silver Price Predictions from Prominent Players, Short and Sweet, Today's top gold news and opinion | Tagged |

Better Business Bureau Five Star Review

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Recent Better Business Bureau Client Review

I made my first purchase of gold about 5 years ago and it was with USAGOLD. They answered all my questions and allowed me to buy a larger amount than they usually allow for a first time buyer. They trusted me and it worked out fine for both parties. Their BBB rating was a big factor in me trusting them. Other firms looked pretty sketchy and I didn’t want to spend that much money on a shaky firm. Since then I have purchased coins quite a few times from USAGOLD and have never been disappointed with the quality of the coins. The whole staff is very professional and courteous and are not pushy at all. They treat you as a friend, not a number. They remember me as soon as I tell them my name. That is a nice feeling. I will continue to buy from them and I highly recommend them.

Jim W.

Scorecard: 38 45 48 53 five star reviews. Zero complaints.
A+ rating. Accredited since 1991.

[Link]

USAGOLD Recommendation: The precious metals industry is unique in the financial industry in that it is not subject to oversight or regulation by third-party government entities like the SEC or CFTC. As such, marketplace forums and feedback sites often serve as a replacement for investors attempting due diligence. While several options can be found, by far the most impartial and least susceptible to vested influence is the Better Business Bureau. When looking at a company’s BBB profile, don’t focus solely on the rating. To be honest, pretty much everybody has an ‘A’ or ‘A+’ rating. What is far more important to assess is the number and nature of complaints, number and caliber of positive and negative reviews, longevity with the BBB, as well as the number of ‘stars’ given a company through the actual customer review system.

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Posted in ClientInsights, Today's top gold news and opinion | Tagged |

Gold Classics Library

Who owns and controls the Federal Reserve
by Dr. Edward Flaherty

“Is the Federal Reserve System secretly owned and covertly controlled by powerful foreign banking interests? If so, how? These claims, made chiefly by authors Eustace Mullins (1983) and Gary Kah (1991) and repeated by many others, are quite serious because the Fed is the United States central bank and controls U.S. monetary policy. By changing the supply of money in circulation, the Fed influences interest rates, affecting the mortgage payments of millions of families, causing the financial markets to boom or collapse, and prompting the economy to expand or to stumble into recession. Such awesome power presumably would be used to benefit the U.S. economy. Mullins and Kah both argued that the Federal Reserve Bank of New York is owned by foreigners. Although the New York Fed is just one of twelve Federal Reserve banks, controlling it, they claimed, is tantamount to control of the entire System. Foreigners use their command of the New York Fed to manipulate U.S. monetary policy for their own and, as Kah asserted, to further their global political goals, namely the establishment of the sinister New World Order.” – From the author’s preface.

[LINK]

[Gold Classics Library Index]

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Posted in Gold Classics Library, Today's top gold news and opinion | Tagged |

Gold specs sharply boost bullish bets for 2nd week

Through Tuesday, June 11, 2019
Charts and commentary courtesy of CountingPips.com
Tables courtesy of GoldSeek

Note: Commitment of Traders reports are published Friday with data from the previous Tuesday.


Gold speculators sharply boosted their bullish bets for the 2nd week

 

Gold Non-Commercial Speculator Positions:

Large precious metals speculators once again sharply advanced their bullish net positions in the Gold futures markets this week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.

The non-commercial futures contracts of Gold futures, traded by large speculators and hedge funds, totaled a net position of 184,238 contracts in the data reported through Tuesday June 11th. This was a weekly gain of 28,123 net contracts from the previous week which had a total of 156,115 net contracts.

The week’s net position was the result of the gross bullish position (longs) advancing by 9,637 contracts (to a weekly total of 250,114 contracts) while the gross bearish position (shorts) declined by -18,486 contracts for the week (to a total of 65,876 contracts).

The net speculator positions rose strongly for a second week after rising by a record weekly high last week (+69,427 contracts). This week was not as strongly bullish as last week because the net change saw twice as many short positions abandon their positions this week compared to the longs initiating bullish bets (it was the opposite last week).

Gold net positions have now jumped by 97,550 contracts in just the past two weeks and currently, the bullish level has moved up to the highest point since March 27th of 2018, a span of 64 weeks.

Gold Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -202,027 contracts on the week. This was a weekly drop of -29,451 contracts from the total net of -172,576 contracts reported the previous week.

Gold Futures:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the Gold Futures (Front Month) closed at approximately $1331.20 which was an increase of $2.50 from the previous close of $1328.70, according to unofficial market data.


Silver speculators boosted their bets this week into a small bullish level

Silver Non-Commercial Speculator Positions:

Large precious metals speculators raised their net positions in the Silver futures markets this week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.

The non-commercial futures contracts of Silver futures, traded by large speculators and hedge funds, totaled a net position of 2,660 contracts in the data reported through Tuesday June 11th. This was a weekly increase of 11,103 net contracts from the previous week which had a total of -8,443 net contracts.

The week’s net position was the result of the gross bullish position (longs) increasing by 8,572 contracts (to a weekly total of 85,225 contracts) while the gross bearish position (shorts) declined by -2,531 contracts for the week (to a total of 82,565 contracts).

The speculator trend reversed a little this week and saw positions improve for a second straight week after seeing rising bearish positions in the previous four weeks. The silver spec level has risen by 25,069 contracts over the past two weeks and this week’s cross back into a small positive position is the first bullish standing in six weeks.

Silver Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -25,191 contracts on the week. This was a weekly drop of -12,902 contracts from the total net of -12,289 contracts reported the previous week.

Silver Futures:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the Silver Futures (Front Month) closed at approximately $1474.00 which was a fall of $-2.90 from the previous close of $1476.90, according to unofficial market data.


US Dollar Index speculators dropped bets for 2nd week

US Dollar Index Speculator Positions

Large currency speculators decreased their bullish net positions in the US Dollar Index futures markets this week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.

The non-commercial futures contracts of US Dollar Index futures, traded by large speculators and hedge funds, totaled a net position of 23,989 contracts in the data reported through Tuesday June 11th. This was a weekly reduction of -2,245 contracts from the previous week which had a total of 26,234 net contracts.

This week’s net position was the result of the gross bullish position lowering by -2,463 contracts (to a weekly total of 36,885 contracts) while the gross bearish position dipped by -218 contracts for the week (to a total of 12,896 contracts).

US Dollar Index speculative positions fell for a second straight week and brought the bullish standing to the lowest level since July 17th of 2018, a span of 48 weeks. The trend for speculator positions has continued to point downward after reaching a high of 40,513 contracts on January 13th. This week marks the thirteenth straight week of net positions under the +30,000 contract threshold.


*COT Report: The COT data, released weekly to the public each Friday, is updated through the most recent Tuesday (data is 3 days old) and shows a quick view of how large speculators or non-commercials (for-profit traders) as well as the commercial traders (hedgers & traders for business purposes) were positioned in the futures markets. The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually small traders/speculators). Find CFTC criteria here: (http://www.cftc.gov/MarketReports/CommitmentsofTraders/ExplanatoryNotes/index.htm).
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Posted in COT Reports |

The USAGOLD Website – A guiding light for current and would-be clientele since 1997

Welcome newcomers!

When the USAGOLD website was established in 1997, there was no Google, no Facebook, no I-Tunes, no Amazon. Instead there was just a handful of scattered websites trying to figure what this new technology was all about and how it could be used to some advantage.  We were among that group.  Our idea of innovation in those early days was two spinning globes on either side of the USAGOLD logo.  We marveled at it; considered it state of the art.  If you would like to witness that piece of technology in action, you can see it here at the WaybackMachine.  (Don’t laugh.)

But being among the first on the internet to have spinning globes was not our only achievement. We were also among the first to sponsor a Daily Market Report (1996), a Discussion Group (1997), Live Prices and Charts (2007) and a Mobile Website (2011) – to mention just a few of our ground-breaking internet ventures.  We await the next wave of innovation so that we can offer even more value to our regular visitors.

Through our 22-year presence on the world wide web, the philosophy underlying our website has always been a simple one – to act as a guiding light for our current and prospective clientele by providing a state of the art information portal coupled with a reliable and competitive brokerage service.  We had and still have no aspirations beyond that, and that pinpoint focus has paid dividends beyond anything we would have imagined in 1996.

From a humble beginning (When you visit the WayBackMachine, take special note of the number of visitors registered on our counter!) we have grown to over 600,000 visitors per month currently and there have been times when that count has been significantly higher. USAGOLD today remains one of the most highly referenced and visited web portals in the gold business. We once had a client tell us of visiting the Gold Souk in Dubai and being surprised that so many merchant stalls had USAGOLD on their computer screens. 

If you would like to gain a better understanding of what USAGOLD has to offer to you as a current or prospective client, the menu at the top of the page is good place to start.  For a full site outline including links and page descriptions. . . . . .

We invite you to visit our
Table of Contents

Posted in ClientInsights, Today's top gold news and opinion |

Better Business Bureau Five Star Review

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Recent Better Business Bureau Client Review

“Before investing in gold I really didn’t have a clue about what or how much to invest in. I came across the USAGOLD website and found an excellent resource for both first time and seasoned buyers. My representative has always provided me with useful and trustworthy analysis related to the markets and trends that has further informed my purchase decisions. Transactions are timely and handled with a high degree of professionalism and integrity. I cannot recommend this company highly enough.” – Y.O., 5-14-2018

Scorecard: 38 45 48 53 five star reviews. Zero complaints.
A+ rating. Accredited since 1991.

[Link]

USAGOLD Recommendation: The precious metals industry is unique in the financial industry in that it is not subject to oversight or regulation by third-party government entities like the SEC or CFTC. As such, marketplace forums and feedback sites often serve as a replacement for investors attempting due diligence. While several options can be found, by far the most impartial and least susceptible to vested influence is the Better Business Bureau. When looking at a company’s BBB profile, don’t focus solely on the rating. To be honest, pretty much everybody has an ‘A’ or ‘A+’ rating. What is far more important to assess is the number and nature of complaints, number and caliber of positive and negative reviews, longevity with the BBB, as well as the number of ‘stars’ given a company through the actual customer review system.

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Posted in ClientInsights, Today's top gold news and opinion |

Short and Sweet

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Doomsday prep for the super-rich



“Survivalism, the practice of preparing for a crackup of civilization, tends to evoke a certain picture: the woodsman in the tinfoil hat, the hysteric with the hoard of beans, the religious doomsayer. But in recent years survivalism has expanded to more affluent quarters, taking root in Silicon Valley and New York City, among technology executives, hedge-fund managers, and others in their economic cohort.” – Evan Osnos, The New Yorker

Everyday on this page we report on the reasons why gold ownership makes a great deal of sense to ordinary investors.  In doing so, we have always taken exception to the mainstream media’s portrayal of the ordinary gold owner as “the woodsman in the tinfoil hat”. . . etc.  I would think that many among the media are utterly amazed that people like Steve Huffman (Reddit, CEO), Peter Thiel (PayPal founder) and the long roster of other luminaries mentioned in this New Yorker article are identified as “preppers” in one capacity or another.

They would probably be even more amazed to find that a good many of this same group are likely to be gold and silver owners as well. As such, they take their place alongside a wide range of Americans who own gold – physicians and dentists, nurses and teachers, plumbers, carpenters and building contractors, business owners, attorneys, engineers and university professors (to name a few.)  We know because that is the description of our clientele. In other words, gold ownership is pretty much a Main Street endeavor. One Gallup poll a few years back found that 34% of American investors rated gold the best investment “regardless of gender, age, income or party ID. . .” In that survey, investors rated gold higher than stocks, bonds, real estate and bank savings.

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Posted in Short and Sweet, Today's top gold news and opinion |

A USAGOLD Special Report

≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠≠

CHART STUDY

Toward a better understanding
of the U.S. national debt . . .
and its consequences

“As of Friday, April 12, 2019, the national debt stood at $22,027,837,127,788.04 – $966 billion higher than a year ago, $2.081 trillion higher than when Donald Trump took office January 20, 2017, and nearly double where it was ten years ago. It is no doubt much higher now than it was then as that is the nature of the national debt. It always grows. It never shrinks. And that has consequences for the country and for you as an investor.”

–– Full Study ––

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Posted in Announcements, Today's top gold news and opinion | Tagged |

Twenty years of one-tenth ounce gold American Eagles!

Limted availability!

*Contiguous date sets: 1998-2017 (Each set includes one each of every date)
*Only 20 Sets Available – Sold First-Come, First-Served
*Just $3.5 per coin more than common 1/10 oz Eagles (roughly $154 ea.)

A USAGOLD special offer!
Shipping included. Available for immediate shipment.
First come – first served


ORDER DESK: 1-800-869-5115 x100/orderdesk@usagold.com

ORDER ONLINE • Description/Details

Posted in Today's top gold news and opinion |

Short and Sweet

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For gold . . .
It is not a question of if, but when

The lesson is one as old as the gold market itself:  The best time to buy is when the market is quiet – a strategy that requires both discipline and conviction.  As an old friend and client used to say (he passed away years ago):  “It is not a question of if, but when.” He accumulated a large hoard of the metal in the 1990s and early 2000s between $300 and $600 per ounce and lived to see his prediction come true.  His estate though was the ultimate beneficiary of his wisdom. He was not one to sell gold once he had acquired it.  We chatted regularly on the phone back then and I told him that I had used the story just told in one of my newsletters.  He was in his late 80s at the time. “Tell them,” he said resolutely, “that I bought my first ounce of gold at $35.”

The possession of gold has ruined fewer men than the lack of it.”
– Thomas Bailey Aldrich –

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Posted in Short and Sweet, Today's top gold news and opinion | Tagged |

Recent client testimonial

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“Thank you! It has been a pleasure doing business with your Company! You’ve treated the small investor (me) just like you would a millionaire. Best wishes, and I hope I can make some purchases in the future.” – L.W., Savannah, Georgia

We also treat millionaires . . . well. . . like millionaires – whether they admit to being millionaires or not [smile].

We receive unsolicited testimonials like L.W.’s routinely. Please see our Client Testimonials page for more feedback, and be sure to visit the Better Business Bureau for even more in the way of FIVE-STAR reviews.  Don’t do business with any gold company until you have checked it out.

Posted in ClientInsights, Today's top gold news and opinion |

Better Business Bureau Five Star Review

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Recent Better Business Bureau Client Review

“When I first became interested in purchasing gold, I merely followed the advertising recommendation of a conservative national personality. This experience was not favorable, as the recommended firm seemed to be just another high pressure marketing boiler room, only interested in making a sale at the highest possible commission. Of course I was disenchanted, and thus lumped (unfairly) all gold brokers into the same category.

A few years later, my interest in purchasing gold overcame my earlier experience and I began seeking a trustworthy firm. As I researched various options, USAGOLD caught my attention. After a few weeks of following their website presence (the Live Daily Newsletter and their weekly video), I began a telephonic dialog with Jonathan Kosares. Recognizing that I was a novice, Jonathan patiently provided general precious metals background and technical information, while also directing me to various educational resources. Since I sought a long term relationship with a stable firm, and because of my earlier experience purchasing gold, my next step was to schedule a personal visit to USAGOLD’s offices in Denver. The meeting at USAGOLD was quite comforting and further instilled a deep sense of trust. . . All that I encountered underscored and reinforced USAGOLD’s unique history and competency with regard to gold and precious metals.

Over the next few months, I engaged in several significant transactions, and all aspects of those transactions could not have been better. I could not have been more pleased with the specific recommendations and pricing, strategies related to IRA/HSA alternatives, balancing exposures to both gold and silver, and the execution of shipping and delivery. I intend to be a lifelong customer, and to this day Jonathan is always available to share his knowledge of precious metals and his perspective on the markets. If you are looking for personal attention from a trustworthy firm that has decades of impeccable history along with a focused depth of expertise, you have found it in USAGOLD.” – R.N., 1/29/2017

Scorecard: 38 45  48  49 53 five star reviews. Zero complaints.
A+ rating. Accredited since 1991.

[Link]

USAGOLD Recommendation: The precious metals industry is unique in the financial industry in that it is not subject to oversight or regulation by third-party government entities like the SEC or CFTC. As such, marketplace forums and feedback sites often serve as a replacement for investors attempting due diligence. While several options can be found, by far the most impartial and least susceptible to vested influence is the Better Business Bureau. When looking at a company’s BBB profile, don’t focus solely on the rating. To be honest, pretty much everybody has an ‘A’ or ‘A+’ rating. What is far more important to assess is the number and nature of complaints, number and caliber of positive and negative reviews, longevity with the BBB, as well as the number of ‘stars’ given a company through the actual customer review system.

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Posted in ClientInsights, Today's top gold news and opinion |

Short and Sweet

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JP Morgan study ranks gold second best
investment over past twenty years

J.P. Morgan Asset Management released a report recently ranking investments over the past twenty years. It shows gold as the second best performer over the period at a 7.7% average gain annually. REITs (Real Estate Investment Trusts) were number one at a 9.9% gain. Stocks ranked fourth at 5.6%.

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Posted in Short and Sweet, Today's top gold news and opinion | Tagged |

Gold spec bets surge to highest level in a year

Through Tuesday, June 4, 2019
Charts and commentary courtesy of CountingPips.com
Tables courtesy of GoldSeek

Note: Commitment of Traders reports are published Friday with data from the previous Tuesday.


Gold spec bets surge to highest level in a year

 

Gold Non-Commercial Speculator Positions:

Large precious metals speculators sharply lifted their bullish net positions in the Gold futures markets this week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.

The non-commercial futures contracts of Gold futures, traded by large speculators and hedge funds, totaled a net position of 156,115 contracts in the data reported through Tuesday June 4th. This was a weekly boost of 69,427 net contracts from the previous week which had a total of 86,688 net contracts.

The week’s net position was the result of the gross bullish position (longs) gaining by 46,014 contracts (to a weekly total of 240,477 contracts) in addition to the gross bearish position (shorts) falling by -23,413 contracts for the week (to a total of 84,362 contracts).

The net speculative position had fallen in the previous two weeks before this week’s jump in positions. This was the largest one-week net increase on record, according to out COT data dating back to 1986.

The current position is now back over the +100,000 net contract level and is at the most bullish level since April 17th of 2018 when the net position totaled 163,069 contracts.

Gold Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -172,576 contracts on the week. This was a weekly decrease of -62,622 contracts from the total net of -109,954 contracts reported the previous week.

Gold Futures:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the Gold Futures (Front Month) closed at approximately $1328.70 which was a boost of $51.60 from the previous close of $1277.10, according to unofficial market data.


Silver speculators lowered their bullish bets for 2nd week in January

 

Silver Non-Commercial Speculator Positions:

Large precious metals speculators reduced their bearish net positions in the Silver futures markets this week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.

The non-commercial futures contracts of Silver futures, traded by large speculators and hedge funds, totaled a net position of -8,443 contracts in the data reported through Tuesday June 4th. This was a weekly gain of 13,966 net contracts from the previous week which had a total of -22,409 net contracts.

The week’s net position was the result of the gross bullish position (longs) rising by 2,990 contracts (to a weekly total of 76,653 contracts) that combined with the gross bearish position (shorts) that dropped by -10,976 contracts for the week (to a total of 85,096 contracts).

The net speculative position had fallen for four straight weeks and for eight out of the previous nine weeks before this week’s turnaround. The gain of +13,966 contracts on the week was the highest gain since December 31st when speculators were strongly bullish and had pushed their net position to over +40,000 contracts.

Despite this week’s advance, the current standing remains in a bearish position for a fifth consecutive week.

Silver Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -12,289 contracts on the week. This was a weekly decline of -13,404 contracts from the total net of 1,115 contracts reported the previous week.

Silver Futures:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the Silver Futures (Front Month) closed at approximately $1476.90 which was a boost of $44.90 from the previous close of $1432.00, according to unofficial market data.


US Dollar Index bets fell this week

US Dollar Index Speculator Positions

Large currency speculators cut back on their bullish net positions in the US Dollar Index futures markets this week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.

The non-commercial futures contracts of US Dollar Index futures, traded by large speculators and hedge funds, totaled a net position of 26,234 contracts in the data reported through Tuesday June 4th. This was a weekly decrease of -864 contracts from the previous week which had a total of 27,098 net contracts.

This week’s net position was the result of the gross bullish position lowering by -2,571 contracts (to a weekly total of 39,348 contracts) while the gross bearish position declined by -1,707 contracts for the week (to a total of 13,114 contracts).

The net speculative position dipped this week after a couple of small gains in the previous two weeks. The dollar index speculator positions have continued to be on a slow and steady downtrend over the past several months after reaching a high-point of 40,513 contracts on January 13th. This week’s level marked the least bullish position since the end of March.


*COT Report: The COT data, released weekly to the public each Friday, is updated through the most recent Tuesday (data is 3 days old) and shows a quick view of how large speculators or non-commercials (for-profit traders) as well as the commercial traders (hedgers & traders for business purposes) were positioned in the futures markets. The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually small traders/speculators). Find CFTC criteria here: (http://www.cftc.gov/MarketReports/CommitmentsofTraders/ExplanatoryNotes/index.htm).
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Posted in COT Reports |