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BofA Technical Analyst: Gold Is Set For A Rally, Could Go As High As $3000 Max Nisen May 22,2012 The technical analysis team at Bank of America Merrill Lynch thinks a month's long decline in gold is coming to an end. Here's an excerpt from a note by Mary Ann Bartels and Stephen Suttmeier: Gold has pulled back to test support at $1550-1500. This support is holding, which sets up gold for a rally. The downtrend line from the August/ September highs provides initial resistance near $1700. Chart resistances are near $1800 and $1900-1925. Our longer-term view remains that gold...

Forget Greece, China Biggest Risk to Global Economy: Faber Published: Friday, 18 May 2012 | 6:16 AM ET By: Jean Chua Writer for CNBC.com Forget Greece, which is an "insignificant" economy, it is China that poses the biggest risk to the global economy, Marc Faber the editor and publisher of the Gloom, Boom and Doom report told CNBC on Friday. "I think the biggest risk is actually China because if you look at Greece, it's an insignificant economy," Faber said on CNBC Asia's “Capital Connection.” "Yes, they owe money, but the market knows that it's bankrupt." The European Central Bank...

Time To Accumulate Gold And Silver By Jeff Clark 05/01/12 Do you own enough gold and silver for what lies ahead? If 10% of your total investable assets (i.e., excluding equity in your primary residence) aren’t held in various forms of gold and silver, we at Casey Research think your portfolio is at risk. After speaking at the Cambridge House conference last month and talking with many attendees, I came away convinced that most investors fall into one of two categories: those who hold an abundance of gold and silver (which tends to be physical forms only), and those with...

We'd Like To Introduce You To Dr. Aluminum Sam Ro April 19, 2012, 8:21 PM Copper was given the nickname "Dr. Copper" because the industrial metal supposedly has a Ph.D in economics. Why? Because copper is widely recognized as a good indicator of economic health. However, copper might not be the smartest metal out there. According to this chart published in Citi's massive 110-page Q2 Commodity Update report, aluminum is much more vulnerable to the economy.

More pandering from Obama: [VIDEO AT SITE] Of course government needs to step in to protect consumers because god knows us consumers can't think for ourselves and we need to be protected from those eeeevvviiiiiilllllll bankers...woops, I mean those eeeeevilllllll CEO's....woops, I mean those evvvvvillllll speculators. Now it's the speculators and their evil capitalist ways. I mean how dare they want to make a profit? To a Socialist, like this man, it's pure evil to want to make money. Everything should be done to help the State, all profits should be confiscated and the government should be allowed to...

President Obama's call to rein in oil market speculation comes just as those very market forces appear to be accomplishing his real goal of lowering gasoline prices in the middle of an election campaign. The president announced Tuesday that he wants Congress to crack down on oil market speculators whom he argues have helped drive up the price of crude oil and gasoline. ,,,,, House Speaker John Boehner, R-Ohio, denounced the plan as unnecessary, saying the White House already has the tools available to crack down on any possible oil price manipulation. "Where is his Federal Trade Commission? Where is...

Why High Oil Prices Even At $200 Won't Cause A Recession Commodities / Crude Oil Apr 12, 2012 - 07:43 AM By: Money Morning Martin Hutchinson writes: Last Friday's weak unemployment numbers, with only 120,000 jobs created, brought renewed wails that high oil prices were causing a recession. Having heard this refrain so many times, I thought I'd dig a little deeper. After all, a peak of $145 per barrel in the West Texas Intermediate oil price pretty well coincided with the onset of the 2008 recession. The question is whether or not high oil prices are always correlated with...

From Ron Griess and the always fascinating Chart Store, we see a very different read of inflation. He shares this awesome selection from his weekly blog (subscription only) of commodities,  crude oil, copper, gold, silver, corn, coffee, cotton, and the S&P500 — all priced in terms of hourly earnings:>Click to enlarge:˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜

Why U.S. Gov't Confiscated Gold In 1933. Can It Happen Again? Commodities / Gold and Silver 2012 Feb 29, 2012 - 01:54 PM By: Julian DW Phillips More and more investors are asking this question. Many observers and commentators have ridiculed this idea as archaic with the conditions that led to the confiscation being so different as to leave such a possibility as remote as the return of the dinosaurs. In this the first part of a series on the subject we look at the picture that led to the confiscation and look at factors that caused the confiscation to...

New York, NY (PRWEB): Danny Esposito, co-editor of financial web site and newsletter Penny Stock Detectives, believes India’s recent purchase of farmland in Africa and China’s recent purchase of 1.4 million acres in Venezuela are just the beginning of a rise in commodities, as both countries secure agricultural commodities for the future. According to Esposito, there are compelling entrenched trends in place that make owning agricultural commodities in 2012 essential to every portfolio: 1. Expanding middle class in emerging markets (China, India) 2. Growing worldwide population 3. Bizarre weather patterns “As the economies in Asia continue to develop, a middle...

Why Rising Debt Will Lead To $10,000 Gold Commodities / Gold and Silver 2012 Jan 07, 2012 - 09:55 AM By: Nick Barisheff Good afternoon, it's a pleasure to speak about gold at this Outlook for 2012. Today, I'd like to focus on one important idea: the direct relationship between the rising price of gold and the rising levels of government debt that result in currency debasement. Since we measure investment performance in currencies a clear understanding of the outlook for currencies is critical. In order to understand gold's relationship, it's important to understand that gold is money. It is...

New York 28/12/2011 - Gold on the Comex division of the New York Mercantile Exchange moved sharply lower Wednesday after the euro plummeted on concerns that Europe is creeping closer to a deflationary recession. Gold futures for February delivery were last down $30.50, or about two percent, at $1,565.00 an ounce. Trade has ranged from $1,563.90 to $1,595.00. The markets have been under pressure ever since the euro smashed through the $1.30 level, Sterling Smith, an analyst with Country Hedging, said. “The bulls are really nervous. They aren't comfortable getting long - especially considering this is a funny time of...

Liquidation Of Customer Stored Gold And Silver Bullion From MF Global Commodities / Gold and Silver 2011 Dec 17, 2011 - 12:27 PM By: Jesse The bottom line is that apparently some warehouses and bullion dealers are not a safe place to store your gold and silver, even if you hold a specific warehouse receipt. In an oligarchy, private ownership is merely a concept, subject to interpretation and confiscation. Although the details and the individual perpetrators are yet to be disclosed, what is now painfully clear is that the CFTC and CME regulated futures system is defaulting on its obligations....

More Upside For Gold As Government Spending Continues Unabated By Bill Bonner 12/16/11 Baltimore, Maryland – Have yourself a merry little depression. Dow up 45 points. Gold down $9. We’re still waiting for a major correction in the gold market. Each time one begins, it seems to run out of steam before doing any real damage. At yesterday’s closing price, $1,577, gold is still solidly ahead for the year. So, where’s the soft spot? Where’s the test? Where will it come from? When? Don’t worry, dear reader, Mr. Market will test us. He’ll throw his curve ball. We have to...

Everyone Is Mocking Gold Bugs And Ron Paul Fans These Days Joe Weisenthal Dec. 15, 2011, 12:01 PM Gold bugs are some of the most annoying people in the world, so with gold cliff-diving these days, people loving the chance to mock them. Nouriel Roubini, for example, has been tweeting up a storm about how gold bugs are in hiding. Yesterday, Paul Krugman put up a post pointing out how the hyperinflationary predictions of Ron Paul fans aren't coming to pass, as commodity prices and gold prices sink. Matt Phillips at the Wall Street Journal twists the knife by pointing...

Buy Silver…Now!By Matt Badiali 12/08/11 Silver is an amazing metal…which is why it’s likely to soar over the coming years… You see, silver has more than 10,000 uses. It’s one of the world’s best conductors of heat and electricity. Inventors filed more patents on silver uses than any other precious metal in the world. And when silver is used for most industrial and technological purposes, it is used up forever… It simply costs too much to try to recycle the tiny bit of silver from every cell phone or casino chip. I’m not saying industry is going to use up...

RICHARD RUSSELL: The Gold Skyrocketing Phase Still Lies Ahead Cullen Roche, Pragmatic Capitalism Nov. 24, 2011, 4:41 AM Via Richard Russell’s Dow Theory Letters: “Day after day, everyone asks whether gold has topped out. Nobody ever asks whether the market has topped out. Think about it, we’re in a low inflation, low investor fear environment, a dollar that appears to have bottomed and is now firming, and still gold holds above 1700 an ounce. This is a remarkable performance aided by heavy buying in China, India, and Asian nations. But what happens when we hit the inevitable inflation; when investors...

Are You Prepared For What’s Coming? Stock-Markets / Financial Markets 2011 Nov 16, 2011 - 05:35 AM Michael A Burnham writes: The US$ is the world reserve currency and a huge amount of it is used in international commerce and held in foreign banks. What is the real value of the US$ or any currency for that matter? Money is no longer backed by gold or anything other than “good faith”, thus coined “fiat currency". Whenever the US Treasury runs short of money, it auctions Treasury notes…IOUs. But since there are fewer interested buyers in the world today, it then...

U.S. Dollar Teetering On The Abyss Currencies / US Dollar Nov 15, 2011 - 03:01 AM By: Toby Connor We all better hope I'm wrong on this one, but I think the CRB just put in its three year cycle low in October. I'm also afraid that Bernanke has done irreparable damage to the dollar. If I'm right about both of those assumptions then we are on the brink of a historic inflationary period. I've marked the major three year cycle bottoms in both the CRB index and the dollar index on the chart below with blue arrows. (Actually the...

Evidence Of A Downtrend In The US Stock Market By Bill Bonner 11/14/11 Paris, France – What happened on Friday? A “moment of truth” arrived for Europe. But what is the truth? We’ll have to wait to find out. The Dow rose 259 points. Gold was up $28. But who cares? Up, down…up, down… Every day brings more ‘truth.’ But what we want is a truth with legs. We’re not day traders. Not week traders. Not even year traders. We want a long, sure…mega trend. We want the Dow at 900 in 1983. Or gold at 260 in 1998. What...

Stock Market Will Fall, World Is Drowning In Debt, Much Of Which Is Unpayable Stock-Markets / Stocks Bear Market Oct 21, 2011 - 08:04 AM By: Bob Chapman It could then be that this is the top of the stock market, which is fundamentally very overpriced. The latest rallies are the result of statements by French President Sarkozy and German chancellor Mrs. Merkel that a financial solution is at hand for Europe. This announcement named the end of the month as the date for release of this information. Thus far there has been no further comment. This was the justification...

Stock Market Poised For A Sharp Pullback Near Term Says Dr Copper Stock-Markets / Stock Markets 2011 Oct 21, 2011 - 12:59 AM By: David Banister Back on October 3rd I wrote a public article forecasting a major market bottom at around 1088 on the SP 500 index. I surmised we were about to complete a 5 wave move to the downside that commenced with the Bin Laden highs of 1370 in early May of this year. The following day we bottomed at 1074 intra-day and closed over my 1088 pivot and continued higher as we all know. That brings...

A Quick Look At Copper, Lumber And Rubber Prices Global Macro Monitor Oct. 21, 2011, 5:21 AM Take a look at copper, lumber, and rubber. Down big. What does it mean? No doubt a reflection of a slowing global economy and confirms the contracting manufacturing PMIs in many of the emerging economies. Hard landing in China? Don’t know but makes us more vigilant. Stay tuned.

Copper Tumbles 6% Eric Platt Oct. 20, 2011, 2:07 PM Copper, after tumbling 4% yesterday, plummeted again on the COMEX today. It's down 6% to $3.07 per pound. Take a look: Image: FinViz Precious metals are also taking a beating: * December gold contracts: Down 2.0% to $1,614 an ounce * December silver contracts: Down 2.8% to $30.36 an ounce * January platinum contracts: Down 2.1% to $1,491 an ounce * Southern Copper Corp. is trading 1.5% lower today. (snip)

"Dr Copper" Says Recession Is Around The Corner.... But May Only Be Half Right. by Vikas Ranjan Oct 19, 2011 07:28:31 AM In my last blog entry on October 7th, I argued that that the bull phase in copper is far from over. The most recent drop in the price of copper is suggesting softness in demand but this could only be a temporary phenomenon. Apart from a keen interest in copper’s own investment prospects, market watchers also look at copper for guidance on the direction of the economy. As I mentioned in my previous article, since copper is...

One big decision looms ominously on Obama’s horizon and he will not be able to blame anyone but himself for the consequences. Obama must render the momentous verdict by November 1 to give or not to give approval for the historical Keystone XL Pipeline Project. This pipeline will carry one of the world’s dirtiest fuels… tar sand oil… vastly different from regular oil, being ten times heavier than water and very corrosive. Presidential permission is required because the 2,147-mile pipeline crosses the border between Canada and eight states of the United States. The present route is scheduled to cross prime...

China Reveals Its Copper Stockpile Linette Lopez Oct. 13, 2011, 12:54 PM According to the FT, China's Non-Ferrous Metals Industry Association has announced that the country's copper inventories were at about 1.9 million tons at the end of last year. That's more that the U.S. consumes in a year. Estimates by the International Copper Study Group had the number 1.0 to 1.5 million tons higher. Here's why it matters: The fact that the amount China is carrying in its reserves means that their demand for copper may be less than we thought. And Chinese demand is so significant, that if...

Don't Miss The Rally In Metals Prices Eric Platt Oct. 10, 2011, 12:53 PM Precious metals are rallying this afternoon with December deliverables of gold and silver trading up 2.3% and 4.2% to $1,674/oz and $32.295/oz, respectively. News that European leaders would come to a consensus on bank recapitalization and the European Financial Stability Facility by the end of October sent the Euro above $1.36, reversing last week's low of $1.31. Other metals posted gains including copper, which is up 3.3% to $3.3825/lb.Copper(Snip)

Load Up On Gold and Silver As Bernanke Dives Off The Deep End Commodities / Gold and Silver 2011 Oct 06, 2011 - 07:41 AM By: Money Morning Martin Hutchinson writes: I first thought U.S. Federal Reserve Chairman Ben Bernanke was being deceitful when he denied the existence of inflation - but now I'm beginning to think he's simply delusional. Anyone who watched or listened to Bernanke's Oct. 4 congressional testimony must have reached the same conclusion. "Persistent factors continue to restrain the pace of recovery," Bernanke said. Then the Fed Chairman promised to consider yet more stimulus "to promote...

Economic Growth According to the World’s Leading Economists By Bill Bonner 10/05/11 Paris, France – We were on the edge of our chairs yesterday. We wanted to see if the Dow would crash through the 10,000 barrier. A break below 10,000 would probably hit the markets like a drone attack on a birthday party… …perhaps causing investors to panic…and the feds to do something really stupid. The feds are getting ready. They’re being egged-on by some of the world’s leading economists. Nobel prize winner, Peter Diamond, for example, urges the feds to spend more money on infrastructure projects. Richard Koo,...

U.S. Secretary of Defense Leon Panetta will arrive in Israel on Monday and meet with Defense Minister Ehud Barak. The two are due to discuss several issues including security ties between the U.S. and Israel, the Palestinian drive for independence, the "Arab Spring" and the Iranian nuclear program. This will be the second meeting between Barak and Panetta within two weeks. The last meeting took place when Barak visited Washington just before the opening session of the United Nations' General Assembly that dealt with the Palestinian application. Barak also held meetings with General David Petraeus, who replaced Panetta as director...

The Stock Market Smells Deflation Stock-Markets / Stock Markets 2011 Oct 02, 2011 - 11:06 AM By: Clif Droke In previous commentaries we've talked about how the 6-year cycle is scheduled to peak around Oct. 1. That now appears to be all but certain following the last few trading sessions. Although the cycle has a 1-2 week standard deviation (plus or minus), it appears that it peaked on schedule last week and that the stock market has lost the last remaining cyclical support it had throughout most of September. Interestingly, it was the commodity stocks that performed the strongest in...

A Hard Landing In China Now Seems Inevitable Also Sprach Analyst Sep. 30, 2011, 5:08 AM This is not an easy call to be made, but it does strike me that there is something wrong with the Chinese economy, even though the focus these days are mostly in Europe, as the European debt crisis is moving ever closer to a tipping point. For China, it seemed as though a hard-landing was avoided as of 2 months ago. As it turns out, even myself was getting a little bit too optimistic. Now, the probability of a hard-landing is getting even higher...

Jim Rogers is a long-term bull on commodities based on scarcity in a growing world. Silver and gold "will both go much higher over the next few years," he tells Economic Times. Oil prices will recover as "known quantities of crude continue to decline." Sugar is going to "at least double or triple before this all is over." But there's only one sector he would buy right now: I am thinking about buying agriculture right now. I am not thinking about buying base metals or gold or oil right now, but I am thinking of buying agriculture maybe this afternoon....

<p>Nothing has represented the rise of the hyperinflation meme more than the price of silver has over the last few years. At every twist in the market the rise in precious metals and silver in particular, has been used as the cornerstone of evidence of “money printing”, debt monetization and raging inflation that was guaranteed to ravage the US economy.</p>

Why Gold's Decline Is Accelerating? Commodities / Gold and Silver 2011 Sep 25, 2011 - 04:34 PM By: DK Matai "The era of procrastination, of half-measures, of soothing and baffling expedients, of delays, is coming to its close. In its place we are entering a period of consequences." That was Churchill in a speech to the House of Commons at the Palace of Westminster in London on November 12, 1936, as the clouds darkened over Europe. Dark clouds are hovering once again in regard to the euro, eurozone sovereign defaults and an interlinked banking crisis. More than $3.4 trillion has...

What Are Copper And Oil Signaling? By Eric McWhinnie September 24 2011 With the markets in turmoil, investors are looking for indicators that will help clean their crystal balls. Two of the more widely used economic indicators are copper and oil. Copper (NYSE:JJC) is often referred to as Dr. Copper, because of its ability to give insight to the future of the global economy. Oil (NYSE:USO) is often seen as the lifeblood of the economy since it is used in everything from plastics to finished motor gasoline. Recently, copper and oil have given investors reason to worry. On Friday, copper...

Here Are The Real Reasons Why Gold And Silver Plunged Mike "Mish" Shedlock, Global Economic Trend Analysis Sep. 24, 2011, 7:28 AM Many people have asked me to comment on the plunge in gold and silver. First let's take a look at the wrong answer: Case Closed: CME Hikes Gold, Silver, Copper Margins And there you have it: CME just hiked gold margins by 21%, silver by 16% and copper by 18%. Mystery solved. Sorry Tyler, wrong answer. Four Reasons for Metals Plunge * Fed did far less than expected * Mutual fund redemptions * Margin calls at hedge funds...

What the heck is going on with the price of silver the last 3 days? Anyone know why its dropping like that? Seems to me with all the turmoil in europe, silver and gold should both be spiking.

Copper And Copper Stocks To Collapse Much Further James A. Kostohryz September 21, 2011 The Malthusian ideologues of "peak everything" fooled an outsized portion of the investing world into believing that commodities and commodity stocks could only go up. Even if these Malthusian prophets of scarcity were correct in their basic theory about the long-term supply and demand fundamentals for commodities (I think that they are partially correct depending on the time-frame you look at) the fact is that they are only correct from a secular standpoint, if at all. The problem is that many of these folks have confused...

Red Alert On The Red Metal?Bruce KrasteringSeptember 20,2011 At the end of last year I made predictions (a total of 44) of what might come. So far I’ve got (at least) one right and other dead wrong. I’m worried about the one I'm wrong on. Right -Volatility is going up across the board. If you have the stomach for the swings that are coming across all markets there is a ton of money to be made; balls and timing are all that are necessary. The markets will create dozens of opportunities to make and lose. . Wrong -Copper will continue...

Gold Still Looking Really Sick... Joe Weisenthal Sep. 19, 2011, 1:42 PM It just keeps getting worse today, not benefiting from the aggressive nervous selling in every market around the world.

Awaiting The Inevitable Correction In The Silver Price By Eric Fry 09/15/11 Laguna Beach, California – The International Can-Kicking Team is busy again today, as the European Central Bank, US Federal Reserve and three other central banks linked arms to kick the European debt crisis down the road until the end of the year. Specifically, the Can-Kickers announced that they would provide three-month US dollar loans to European banks to insure that the banks have enough liquidity to make it to the end of the year. If past scams of this nature are any guide, the “short-term” assistance will somehow...

Copper Continues To Show Risk On By Jonathan Chen Benzinga Staff Writer September 07, 2011 3:28 PM If you look at a chart of copper, you wouldn't know the world is ending in Europe. Sure, we dropped from nearly $4.50 per pound at the end of July, beginning to almost $3.80 per pound just a few days later in August. Since that low in August, we have seen a somewhat shaky, climb higher. We touched a technical level of $4.225 on August 31, bounced off that and found support at $4.02 last week. It has not been a steady climb...

The steady internationalisation of China’s renminbi will see at least 40%, or $100-billion, of China’s trade with Africa being made using the currency unit by 2015, according to research just published by Standard Bank Group. Standard Bank economist Jeremy Stevens, currently based in Beijing, says the $100-billion in renminbi-denominated trade by 2015 amounts to more than the total Sino-African trade in 2010. In addition, at least $10-billion of Chinese investment into Africa will be denominated in renminbi over the same period. He says among the main benefits for Africa of renminbi internationalisation will be cheaper funding and lower transaction costs,...

China Forecast: Cloudy With A Chance Of Rain By Chris Mayer 09/06/11 Gaithersburg, Maryland – Remember the phrase “Buy what China needs to buy”? It was a good thesis for us for years. I dipped the ladle into this idea bowl often. And the stocks of producers of potash, oil, iron ore and other stuff from the earth did well. But the tides of fortune ebb and flow. Will these commodities be good investments from here? First, let me state again what every investor in commodities everywhere should know by now: China is your biggest buyer. Take a look at...

Why Food For Fuel Is A Terrible Idea By Jonathan Chen Benzinga Staff Writer September 02, 2011 12:17 PM Pretty soon, corn will be more valuable than a barrel of oil. There is an article on Bloomberg Government from last month that still holds true today. (Gasp! Something written more than 30 seconds ago still holds true?) It is a sad fact that the U.S. is using corn almost as much as Saudi oil as fuel in this country. The "food for fuel" idea has been around for a long time, and it has been seen as a bailout of...

Gold Jumps To Highest Level In 9 Days Gus Lubin | Sep. 2, 2011, 5:32 AM Remember gold $1900? Gold took a $20 jump this morning on its way to the highest level since Aug. 24. The metal was at record levels as recently as Aug. 22 before slipping.

August 27 2011: Et tu, Commodities?August 27,2011 Detroit Publishing Co. Apocalypse Then April 18, 1906 "Looking up Market Street from near Ferry", San Francisco in the aftermath of the earthquake and fire Stoneleigh: Our most consistent theme here at The Automatic Earth has been the developing deflationary environment and the knock-on effects that will follow as a result. Now that the rally from March 2009 appears to be well and truly over, it is time to revisit aspects of the bigger picture, in order for people to prepare for a full-blown liquidity crunch. October 2007-March 2009 was merely a taster....