Precious Metals

Bill Bonner: Why the Sell-Off in Gold is Good News

"Gold is giving us another good opportunity to buy a life vest before the boat sinks. No market goes up without a correction. Speculators typically get ahead of themselves. They need to be slapped around a bit... tested... and tempered. Like a steel blade, they need to be hammered before they are ready for the final battle. In the last major bull market in gold the gold price rose from $40 to over $800 an ounce. This was one of the greatest bull markets of all time. But it wasn't without its challenges. The price of gold moved up fast. It needed to be knocked down at least once before it finally reached its top. Gold fell by 47% before rising eight times to its peak in 1980." Continue reading →

Continue ReadingBill Bonner: Why the Sell-Off in Gold is Good News

Stock Market Guru Cody Willard Is Buying Precious Metals Coins.

"We can’t control when or where opportunity arises. And as you know with gold having crashed some 30% from its highs, I started rebuilding my own physical gold and silver assets in April, looking to take about 1-2 years to build up those assets to about 10%-15% of my portfolio to own/hedge/protect my family with forever. Which leads us to a little more on why I’m so bullish right now on gold and silver coins and bullion and why I am so against gold and silver exchange-traded funds and other precious metal ETFs. It’s my belief that the big banks who control the paper ETF and spot prices have less gold per promise than they’ve ever had in our lifetimes." Continue reading →

Continue ReadingStock Market Guru Cody Willard Is Buying Precious Metals Coins.

Who Says the Market Cannot Supply Its Own Money?

"I just arrived back from lecturing at the week-long Free State Project’s Tenth Annual Porcupine Freedom Festival, a huge gathering of libertarians of all stripes from all over the U.S. in the beautiful White Mountains of New Hampshire. Many of the vendors accepted an array of payments media. I was particularly struck by the sign on one stall which read: 'Bitcoin, silver coins, Shire Silver, ammo and even Federal Reserve notes accepted.' I was also delighted to discover that privately minted gold and silver money were circulating at the festival in the form of the aforementioned Shire Silver. These were widely accepted as media of exchange by vendors and paid out in change." Continue reading →

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Sitka Pacific Capital Management Client Letter, May 2013

"In many respects, the market action over the past 2 years — in stocks and gold — seems to reflect a misunderstanding of how periods of monetary expansion affect consumer prices and asset prices. In the pages that follow we’ll highlight a few of these monetary expansion/inflation misunderstandings, and we’ll explain why equity investors should be growing more pessimistic — not optimistic — in light of current market valuations and the Fed’s continued quantitative easing." Continue reading →

Continue ReadingSitka Pacific Capital Management Client Letter, May 2013

Crisis and Opportunity in the Junior Miners

"While it's true that junior miners routinely rise and fall like a roller coaster, the opportunity that today's dirt-cheap prices present is far from normal.To put it in perspective, remember when Lehman Brothers, Merrill Lynch, and Bear Stearns all succumbed to the subprime crisis? When the financial system itself seemed to be crumbling, and panicked investors were selling everything they could catch a bid on? Well, junior mining companies are as cheap now as they were then. Even if you go all the way back to 2002 – before the gold bull really got running, and gold was going for just $315 an ounce – junior miners still weren't as cheap as they are today." Continue reading →

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Gold: Dead Cat Or Raging Bull?

"Gold prices are falling, but gold sales are going through the roof – what is the real truth behind these puzzling developments? Is the gold bull market dead, or is the best yet to come? And what are the implications for investors today? TheStreet has partnered with Casey Research to answer these questions – and more – in an exclusive video event focused on the gold debate that's raging across investment communities worldwide." Continue reading →

Continue ReadingGold: Dead Cat Or Raging Bull?

Ghana arrests 124 Chinese citizens for illegal Gold mining

"Local police arrested the suspected illegal miners in the country's capital, Accra. Many of them are likely to face deportation. Ghana, the continent's second-largest gold producer, has forbidden foreigners from working in its small-scale mines since the 1980s. Locals have criticised Chinese miners for taking local jobs, polluting lakes and rivers, and wielding weapons such as AK-47 rifles to ward off robbers. More than 50,000 Chinese gold miners have been to Ghana since 2005. Two-thirds of them come from Shanglin, an impoverished county in southern Guangxi province where news of the gold rush spread by word of mouth." Continue reading →

Continue ReadingGhana arrests 124 Chinese citizens for illegal Gold mining

Silver found to be key weapon in fight against antibiotics resistance

"Silver may be a key weapon in the fight against drug-resistant bacteria, according to Boston University scientists. A team of researchers lead by biomedical engineer James Collins, say adding silver to antibiotics can make them up to 1,000 times more effective, especially when it comes to combating Gram-negative bacteria — one of the hardest pathogens to kill. The findings, published in the journal Science Translational Medicine, comes only weeks after Britain’s top doctor, Sally Davies, began its media campaign to warn about the rise of drug-resistant superbugs, which she considers a risk for humankind of 'apocalyptic consequences.'" Continue reading →

Continue ReadingSilver found to be key weapon in fight against antibiotics resistance

New Gold Import Tax In Sri Lanka

"Sri Lanka has announced a 10 per cent tax on gold imports in what observers said was a bid to curb smuggling to India as global markets trading in the precious metal reported sharp price drops to 2010 levels. Earlier this week India — the world’s largest consumer of gold — hiked import duty on the precious metal to eight per cent to stem surging demand and reduce the country’s ballooning current account deficit, as consumers sought to exploit the fall in prices. Local industry watchers say the new tax in Sri Lanka would push up local prices and claimed the government move was aimed at curbing local traders who smuggle gold into India." Continue reading →

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