Gold Breaks Out To 7 Month High
Gold powered through $940 today – its highest levels since July ’08. I also noticed that the Gold ETF (GLD) has traded more than 50 million shares today – it’s biggest volume day since Sept 17 and 18, 2008, the…
Uncle Ben Vs. Grandpa Ben
The catalyst for today’s rally is the rumor that the Obama Administration is in the process of putting together a bad bank proposal to buy up bad assets from financial institutions. The financials are crushing today with the XLF up…
Bill Gross: CPI Understates Real Inflation
I’ll tell you another area where we’ve been foolin’ ourselves and that’s the belief that inflation is under control. Gross on using owner equivalent rent instead of home prices in calculating the CPI: ….. the first occurring in 1983 with the…
Gold Bulls Unfazed By Recent Correction
I strongly suggest buying gold during this recent pullback if you haven’t already done so. – Graham Summers, “Gold: The Last Cheap Asset Class”, Seeking Alpha, April 8 Gold is still in a long term bull market and there was no…
Another Good Day To Sell Stocks And Buy Gold
A couple weeks ago I suggested it was a good day to sell stocks and buy gold (“An Opportunity To Sell Stocks And Buy Gold”, Wednesday March 19). Today strikes me as another good day to do the same. Even…
Newsletters Bearish On Gold
In a piece today, “Golden Correction”, Mark Hulbert writes that sentiment among the gold newsletters that he follows is very bearish. The recommended exposure as of the end of yesterday was 11.5% – down 54% from where it stood last…
Irwin Kellner: Money Supply Growth “Jaw Dropping”
The money supply’s rate of growth is nothing short of jaw dropping. – Irwin Kellner, “Follow the money”, Marketwatch, Tuesday March 25 According to economist Irwin Kellner in an article on Marketwatch today, M2 money supply grew at annualized rate…
An Opportunity To Sell Stocks And Buy Gold
At my recent talks on “How To Invest In The Coming Bear Market” at the Borders Bookstore in Roseville, CA, I’ve been advising people to reduce their exposure to stocks and to buy gold. The last couple days have provided…
I Told You – Gold Closes Above $1000 For 1st Time Ever
For years I’ve been telling everybody that gold was going to $1000. I’ve been saying it since gold was in the $400s. Well, today, it finally happened: Gold closed above $1000 an ounce. To everybody who thought I was a…
$1000 Gold? 100 Yen Per $? – This Is A Dollar Crisis
Gold briefly touched $1000 an ounce this morning – an all time high (Gold 5 Year Chart). The Yen/$ briefly dipped below 100 this morning – just below very long term support at lows from early 2005 and late 1999…