by Clif Droke, Gold Strategies Review
Lacking a distinctive catalyst, gold prices have languished in recent weeks after a failed turnaround attempt earlier this month. Gold’s primary form of price propulsion is fear and uncertainty; as long as investors are worried what the future might hold, gold is treated as a financial safe haven and its price tends to appreciate due to increased demand. When investors aren’t worried, however, gold is typically ignored and risk assets (viz. equities) become the preferred choice.
There was plenty of fear to go around earlier this month: Ebola, the global economy, the U.S. stock market, and a host of other concerns. Now that those fears have abated the equity market has regained its attraction for investors, especially after the plethora of bargains that were offered after the steep decline in stock prices. Gold has once again been relegated to the sidelines and awaits the appearance of the next bout of investor fear and panic.
Continue Reading at GoldSeek.com…
by David Schectman
Silver Eagle sales are going through the roof, but the demand is not U.S. retail centered. There are rumors of a big buyer in Europe. At these prices, silver sales are very robust (See article in Jim Sinclair’s column today).
I was talking to Andy Hoffman this morning and he said the paper market is in total control of the prices. I said I disagree – sort of. The paper market is in control until it isn’t. The minute that physical gold or silver can’t be sourced at the suppressed (paper) prices, the physical market will control the price. Can that time be far off? I think not. And when it turns, there will be a large number of hedge funds that will be in a hurry to exit their positions and the way back up should be as rapid, or even faster, than the way down.
In today’s Featured Articles section, there are several good reports on Alan Greenspan. I think the best of the bunch is in the Money Morning section. Be sure and check it out.
Continue Reading at MilesFranklin.com…
by Rodrigo Campos
(Reuters) – The Dow industrials hit a record high on Friday as stocks rallied on Wall Street after the Bank of Japan significantly ramped up its stimulus program, just days after the Federal Reserve wound down its years-long package of incentives.
The S&P 500 came within 0.1 percent of its record high, after the December e-minis contract ESZ4 hit an intraday record earlier.
Gains were broad, with 123 new 52-week highs on the S&P 500 versus just two new lows. The Nasdaq Composite recorded 209 new highs and 27 new lows.
The BoJ’s board voted 5-4 to accelerate purchases of Japanese government bonds while tripling its purchases of exchange-traded funds and real-estate investment trusts.
Continue Reading at Reuters.com…
by Chris Campbell
Laissez Faire Books
“You say a lot about gold going up,” one reader, Jack J. writes, “but what about silver? Will it advance equally with gold when the time comes?”
Good question, Jack. Glad you asked.
Scary confession time: I am what some would call a “silver bug.”
And if, like everyone else, you hate silver right now…
Be prepared to get a little freaked out that you haven’t been buying it.
Continue Reading at LFB.org…
A big rebound in the past two weeks suggests a bear market isn’t in the cards
by Mark Hulbert
CHAPEL HILL, N.C. (MarketWatch) — The most bullish thing the stock market can do, according to an old Wall Street saw, is to go up.
[...] And that’s exactly what it’s doing — in spades.
In fact, assuming the stock market closes today where it began, the venerable Dow Theory will issue a bullish “all-clear” signal. That would represent a remarkably quick recovery for the market that just two weeks ago was on the verge of dipping into official “correction” territory.
The Dow Theory, of course, is the oldest stock market timing system that remains in widespread use today. Sell signals are generated whenever the market jumps over three hurdles:
Continue Reading at MarketWatch.com…
Don’t Bet on a 2015 Rate Hike
by Jason Simpkins
“We are each our own devil, and we make this world our hell.” – Oscar Wilde
There are a lot of different theories about what Hell is.
One popular suggestion is that Hell means having the behavior you indulged in on earth turned against you.
For example, there was an old episode of the “Twilight Zone,” in which a dead robber named Rocky was given everything he wanted in life; money, luxury, women, food… everything. At first he enjoyed it, but after a month with no mischief to make, he was bored out of his mind.
Continue Reading at OutsiderClub.com…
from King World News
Today King World News is highlighting a piece by one of the greats which discusses the incredible chaos we are seeing in the markets and urges people to “BUY AS MUCH GOLD AS YOU CAN NOW.” Below is the powerful piece which all KWN readers around the world must read.
By Art Cashin Director of Floor Operations at UBS
October 31 (King World News) – “Overnight And Overseas – The Bank of Japan has blown the lid off markets. Here’s what our pal, Peter Boockvar, over at the Lindsey Group wrote in his note this morning:
Continue Reading at KingWorldNews.com…
CNBC’s Rick Santelli discusses the latest action in the bond market, and how the Bank of Japan adding QE boosted U.S. stocks.
by Chris Powell
Dear Friend of GATA and Gold:
Another day, another attack on the monetary metals in the futures markets, another commentary by London metals trader Andrew Maguire at King World News that the price decline has prompted huge offtake of real metal –
– another commentary by the TF Metals Report’s Turd Ferguson about strange movements of metal in the Comex warehouses –
– speculation by Colorado securities lawyer Avery Goodman and others that the attack is another coordinated central bank operation, this time to discourage support for the referendum campaign that would require Switzerland to commit more of its foreign exchange reserves to gold –
Continue Reading at GATA.org…
by Fred Reed
The Burning Platform
A Done Deal
As I write America waits, again, to see whether blacks will riot, this time in Ferguson. Will they loot, burn, kill, and rape? The usual? The police in Ferguson prepare to protect stores from looters, as rioters seem to regard their insurrections as shopping opportunities. Will it come, we wonder tensely? Will the destruction get out of hand, spread to other cities?
It is curious that blacks, the least educated thirteen percent of the population, the least productive, most criminal, and most dependent on governmental charity, should dominate national politics. Yet they do. Virtually everything revolves around what blacks want, demand, do, or can’t do. Their power seems without limit.
Continue Reading at TheBurningPlatform.com…
by Chuck Butler
Good Day!… And a Happy Friday to one and all!… BOO! Gotcha didn’t I? It’s Halloween! The last day of Rocktober, and the All Hallows Eve… Funny story about my grandson, Braden… He’s decided he’s NOT going to wear a costume, even though he wanted so badly to be Batman… the pre-school he attends did a pre-Halloween event, where all the kids dressed up in their costumes, except… Braden… And he does NOT want to go trick-or-treating! I told him he could stay home with me and give out candy, but he wanted no part of that either! What a hard headed little boy! I laugh, but I’m sure his parents, Andrew & Rachel are about to pull their hair out!
Well, if I had hair, I would be pulling it out this morning… Gold is down $26… And the only thing I can see that ties to this whacking, is the talk about the Fed moving their first rate hike up in terms of time…
Continue Reading at DailyPfennig.com…