Ed is a former Howe Street broker. During the late ’90s, while many Wall Street firms were abandoning commodities altogether, Ed toiled for his clients on the Vancouver Stock Exchange. He was able to make his clients money even during the most vicious bear market for gold in the past two generations. Ed is now excited to take his skills and knowledge of precious metals and apply them to one of the biggest bull markets history has ever seen.
Last week, amid a stream of bearish economic news, the chairman of the Federal Reserve, Ben Bernanke, asserted his priority on price stability and uttered the word “dollar,” as if turning a new leaf.
He did that to get your attention.
Fed chairs rarely ever say that word, for reasons that Greenspan ...read more
Gold could be ready to end the summer doldrums even before summer begins.
The most relevant area of resistance in the way of this outlook is the 30-point range between $890 and $920. If gold can break through and find support at these values it will be poised to rise for ...read more
The economy doesn’t know what to do with itself. The Fed has made it all but certain that inflation will be a problem. Prices are rising and everything has become more expensive. So what ever happened to this recession we’ve been hearing about? Shouldn’t a slowing economy be depressing prices? ...read more
WHEN I LOOK AT THE POLICIES THAT CENTRAL BANKS are adopting today, everywhere, I see an inflationary epidemic that is feeding on itself and confirming the bull market in gold. In the U.S. — arguably an epicenter of the modern global monetary system — I see a central bank whose ...read more
So you own a portfolio of gold stocks and you’re worried about losing some of your gains to the return of a bear market on Wall Street, or a correction in oil prices, or a temporary bounce in the U.S. dollar.
You tell yourself that these things are not fundamentally bearish ...read more
REMEMBER THAT OLD WALL STREET MAXIM, “Don’t fight the trend”?
Now remember another one: “Don’t fight the Fed.”
Well, what happens when the Fed fights the trend, as it has been recently? Which axiom to believe?
Historically, the Fed loses that fight until the trend is ready to turn back around. Admittedly, the ...read more
The South African gold and platinum deposits are among the vastest and richest in the world.
Even after a persistent drop in annual production since the 1970s that has driven output down to an 85-year low, the country is still the second largest gold producer in the world. With gold and ...read more
THE G-7 APPROVED THE IMF’S GOLD SALES plan this weekend in Tokyo.
Quoting a Morgan Stanley analyst endorsing the plan, “This is arguably a good time to consider selling some of these gold holdings and investing the proceeds in financial securities with positive yields.”
According to the same article, the head of ...read more
GOLD CRITICS OFTEN SAY THAT THE SHINY YELLOW METAL has few industrial uses, compared with, say, silver or copper. That happens to be what we call a half truth. It’s also beside the point. It is usually lamented by bears refusing to accept the market’s valuation of gold.
The whole truth ...read more
A HISTORIC MILESTONE IS NEARBY.
In December, the gold price raced off to record highs for the first time in almost three decades. Now it looks to be closing in on 1,000 U.S. bucks. That is four digits. It will also be four times the 1999 low.
The market has added dollars ...read more
