James Turk's Free Gold Money Report RSS Feed en-uk Copyright 1997-2012 by FGMR. All rights reserved. http://www.fgmr.com/ http://www.fgmr.com/central-bankers-are-intellectually-bankrupt.html http://www.fgmr.com/central-bankers-are-intellectually-bankrupt.html May 11, 2012 Congressman Ron Paul says that andldquo;central bankers are intellectually bankruptandrdquo;. This is actually the title of an excellent op-ed article he wrote last week for Fri, 11 May 2012 15:45:00 GMT http://www.fgmr.com/from-government-to-robberment.html http://www.fgmr.com/from-government-to-robberment.html May 5, 2012 Back in 2009 when the Greek crisis was just starting to make headlines, I wrote an article concluding that sovereign debt defaults would bring the end of socialism. My Sat, 05 May 2012 13:30:00 GMT http://www.fgmr.com/some-answers-to-doug-caseys-questions.html http://www.fgmr.com/some-answers-to-doug-caseys-questions.html April 13, 2012 In the April edition of The Casey Report, Doug Casey tackles the matter of gold price manipulation. He does this in an excellent article comparing gold's bull market today Sat, 14 Apr 2012 14:00:00 GMT http://www.fgmr.com/bernanke-goes-to-college.html http://www.fgmr.com/bernanke-goes-to-college.html March 21, 2012 Earlier this week Federal Reserve chairman Ben Bernanke gave a lecture to students at George Washington University. It was the first of a four-part series in a course entitled Wed, 21 Mar 2012 16:45:00 GMT http://www.fgmr.com/no-reprieve-for-greece-from-debtors-prison.html http://www.fgmr.com/no-reprieve-for-greece-from-debtors-prison.html February 26, 2012 Greece remains in debtor's prison. That horrible fate was confirmed this past week with the andlsquo;group-sentencing' handed down by Brussels' Sun, 26 Feb 2012 17:00:00 GMT http://www.fgmr.com/more-deficits-more-debt.html http://www.fgmr.com/more-deficits-more-debt.html More Deficits, More Debt December 19, 2011 In the first two months of the current fiscal year that began on October 1st, the US national debt has grown $320 billion. That is $21 billion Mon, 19 Dec 2011 14:15:00 GMT http://www.fgmr.com/myths-and-reality-of-gold-confiscation.html http://www.fgmr.com/myths-and-reality-of-gold-confiscation.html November 23, 2011 There are a number of common misconceptions about the gold confiscation foisted on the American people by President Franklin Roosevelt in 1933. Most of these have been Wed, 23 Nov 2011 14:15:00 GMT http://www.fgmr.com/currency-wars.html http://www.fgmr.com/currency-wars.html October 27, 2011 It was my good fortune to receive an advance copy of Jim Rickards' new book, andldquo;Currency Warsandrdquo;. It is a great book, and I highly recommend it. The book is Thu, 27 Oct 2011 18:00:00 GMT http://www.fgmr.com/swiss-national-bank-gives-up.html http://www.fgmr.com/swiss-national-bank-gives-up.html September 19, 2011 The Swiss National Bank finally gave up. For months it tried standing alone against all of the bad monetary policies being pursued by the ECB, the Federal Reserve, the Mon, 19 Sep 2011 18:00:00 GMT http://www.fgmr.com/something-more-important-than-the-debt-limit.html http://www.fgmr.com/something-more-important-than-the-debt-limit.html July 11, 2011 - Discussions by policymakers to increase the US debt limit are in the eleventh hour. Sadly, so far the circus of intense political posturing has avoided highlighting the real Mon, 11 Jul 2011 17:00:00 GMT http://www.fgmr.com/is-the-ecb-solvent.html http://www.fgmr.com/is-the-ecb-solvent.html June 14, 2011 - The solvency of the European Central Bank is being called into question by some brilliant in-depth research from OpenEurope.org.uk. This independent think tank believes Tue, 14 Jun 2011 10:45:00 GMT http://www.fgmr.com/gold-and-silver-form-promising-bullish-divergences.html http://www.fgmr.com/gold-and-silver-form-promising-bullish-divergences.html May 30, 2011 - Bull markets do not move in a straight line, nor do the price of gold and silver. Their price advances, and then retreats to andlsquo;correct' the previous advance. For the Mon, 30 May 2011 20:15:00 GMT http://www.fgmr.com/mining-stocks-still-on-the-runway.html http://www.fgmr.com/mining-stocks-still-on-the-runway.html March 1, 2012 Six months ago I wrote that the gold mining stocks were on the runway and ready for take-off. I expected the gold mining stocks from that point to start outperforming gold Thu, 01 Mar 2012 16:45:00 GMT http://www.fgmr.com/mining-stocks-on-the-runway-ready-for-take-off.html http://www.fgmr.com/mining-stocks-on-the-runway-ready-for-take-off.html September 5, 2011 Gold has been rising faster than the price of mining stocks. Here are some statistics to prove this point. In the twelve months ending August 31st, gold has risen Mon, 05 Sep 2011 11:15:00 GMT http://www.fgmr.com/update-on-long-term-core-positions.html http://www.fgmr.com/update-on-long-term-core-positions.html September 4, 2011 - Since March 23, 2001, we have been holding goldgrams as our Core Currency Position. In other words, we have been keeping our liquidity - which is sometimes also referred to Sun, 04 Sep 2011 11:00:00 GMT http://www.fgmr.com/gold-poised-to-make-new-record-high.html http://www.fgmr.com/gold-poised-to-make-new-record-high.html July 9, 2011 Gold closed in New York this past week at $1,541.20, which is only $15.50 below its all-time record high close of $1,556.70. In other words, a 1% jump from Friday's Sat, 09 Jul 2011 17:00:00 GMT http://www.fgmr.com/trading-comments-2012-may-11.html http://www.fgmr.com/trading-comments-2012-may-11.html It's been nearly a month since my last post. I haven't been recommending any trades lately because there was nothing to do except sell short, but I never recommend going against any Fri, 11 May 2012 16:30:00 GMT http://www.fgmr.com/trading-comments-2012-apr-14.html http://www.fgmr.com/trading-comments-2012-apr-14.html Gold and silver have done little over the past two weeks. The short-term volatility is noise that can be ignored. The positive news is that both precious metals have completed two more weeks of base Sat, 14 Apr 2012 21:00:00 GMT http://www.fgmr.com/trading-comments-2012-apr-2.html http://www.fgmr.com/trading-comments-2012-apr-2.html Support for gold at $1650 and silver at $32 has been now tested many times and held each time. Therefore, these support levels appear solid. One can only conclude that the precious metals will start Mon, 02 Apr 2012 06:45:00 GMT http://www.fgmr.com/trading-comments-2012-mar-22.html http://www.fgmr.com/trading-comments-2012-mar-22.html The precious metals are testing support this morning. With the weekend approaching, the shorts will probably be looking for an opportunity to buy. We should use this opportunity as well to begin Thu, 22 Mar 2012 10:00:00 GMT http://www.fgmr.com/trading-comments-2012-mar-21.html http://www.fgmr.com/trading-comments-2012-mar-21.html The precious metals are still testing support. So far gold has held $1650 and silver has held $32, which are important support levels. That is positive. Gold 1) The position bought at $1,659.10 on Wed, 21 Mar 2012 08:45:00 GMT http://www.fgmr.com/trading-comments-2012-mar-19.html http://www.fgmr.com/trading-comments-2012-mar-19.html The precious metals are still trying to re-group after being dealt two smashdowns, one at the end of February and the one last week. With the important April option contracts expiring next week, the Mon, 19 Mar 2012 09:00:00 GMT http://www.fgmr.com/trading-comments-2012-mar-15.html http://www.fgmr.com/trading-comments-2012-mar-15.html The shorts have managed a replay of the smash they engineered at the end of Feb. We've been on the sidelines waiting to step back in. Now is the time to buy once again. Gold 1) The position Thu, 15 Mar 2012 07:15:00 GMT http://www.fgmr.com/trading-comments-2012-mar-6.html http://www.fgmr.com/trading-comments-2012-mar-6.html Both gold and silver are going through the process of re-testing support. This process may take a couple of days, or maybe a couple of weeks. I do not expect support to break. I recommend Tue, 06 Mar 2012 07:30:00 GMT http://www.fgmr.com/trading-comments-2012-mar-1.html http://www.fgmr.com/trading-comments-2012-mar-1.html The metals got whacked by the paper traders and shorts. We were stopped out with good profits. I recommend re-building new trading positions from these levels. Gold 1) The position Thu, 01 Mar 2012 07:30:00 GMT http://www.fgmr.com/trading-comments-2012-feb-27.html http://www.fgmr.com/trading-comments-2012-feb-27.html Both gold and silver had a great week, with gold rising 2.9% while silver soared 6.4%. Silver is now in the process of breaking through resistance at $35. I expect it will be tough going Mon, 27 Feb 2012 07:45:00 GMT http://www.fgmr.com/trading-comments-2012-feb-21.html http://www.fgmr.com/trading-comments-2012-feb-21.html The metals this morning are heading higher, but are still mired within their trading range. With each passing day, we are getting closer to the upside breakout I am expecting. Gold 1) The Tue, 21 Feb 2012 09:30:00 GMT http://www.fgmr.com/trading-comments-2012-feb-16.html http://www.fgmr.com/trading-comments-2012-feb-16.html More consolidation, with both precious again testing support at their lows, which I assume will hold this time just like the previous times. While this sideways trading action may be Thu, 16 Feb 2012 07:15:00 GMT http://www.fgmr.com/trading-comments-2012-feb-13.html http://www.fgmr.com/trading-comments-2012-feb-13.html Gold and silver are still consolidating their gains from the January low. The upside fireworks I am expecting should start soon. Gold 1) The position bought at $1,728.00 on February 3, Mon, 13 Feb 2012 07:30:00 GMT http://www.fgmr.com/trading-comments-2012-feb-6.html http://www.fgmr.com/trading-comments-2012-feb-6.html I am not sure the retracement that began on Friday is over yet. So there may be more backing-and-filling. But I expect the metals will end the week on strength. Gold 1) Long one Mon, 06 Feb 2012 07:45:00 GMT http://www.fgmr.com/trading-comments-2012-feb-2.html http://www.fgmr.com/trading-comments-2012-feb-2.html I've been travelling which explains the absence of posts the past couple of weeks. I assume you have been following my interviews on King World News, Korelin Economics Report and many Thu, 02 Feb 2012 09:00:00 GMT http://www.fgmr.com/trading-comments-2012-jan-14.html http://www.fgmr.com/trading-comments-2012-jan-14.html As I said might happen, there was more andldquo;backing and fillingandrdquo; to re-test support. But despite the weak close on Friday, last week was a good one with gold up 0.9%, while silver Sat, 14 Jan 2012 21:45:00 GMT http://www.fgmr.com/trading-comments-2012-jan-12.html http://www.fgmr.com/trading-comments-2012-jan-12.html The andldquo;backing and fillingandrdquo; yesterday was not out of the ordinary. There may be more re-tests of support. Nevertheless, with each passing day the odds improve that the low in Thu, 12 Jan 2012 09:00:00 GMT http://www.fgmr.com/trading-comments-2012-jan-11.html http://www.fgmr.com/trading-comments-2012-jan-11.html Both precious metals are starting to build upside momentum. I expect some spectacular fireworks in both gold and silver before the end of this month. Gold 1) Long one position from $1,586.00 Wed, 11 Jan 2012 07:45:00 GMT http://www.fgmr.com/trading-comments-2012-jan-9.html http://www.fgmr.com/trading-comments-2012-jan-9.html Both precious metals had a good week, but silver did not do as well as I expected. So we are seeing some re-testing of support in both metals. We need to assume that support will again Mon, 09 Jan 2012 07:15:00 GMT http://www.fgmr.com/trading-comments-2012-jan-6.html http://www.fgmr.com/trading-comments-2012-jan-6.html Now that the September lows have been tested and held, both gold and silver are forming a double-bottom. There is considerable support for gold under $1600 and silver under $29. The Fri, 06 Jan 2012 09:30:00 GMT http://www.fgmr.com/trading-comments-2012-jan-4.html http://www.fgmr.com/trading-comments-2012-jan-4.html With yesterday's jump in the precious metals, one couldn't ask for a better way to start the new year. The question now is what kind of upward pace will the metals follow? Given Wed, 04 Jan 2012 11:30:00 GMT http://www.fgmr.com/trading-comments-2012-jan-3.html http://www.fgmr.com/trading-comments-2012-jan-3.html It was a cheerless way for the precious metals to end last year. Nevertheless, even though gold dropped -10.3% in December, it still managed to appreciate 10.2% in 2012, the 11th consecutive Tue, 03 Jan 2012 09:30:00 GMT http://www.fgmr.com/trading-comments-2011-dec-22.html http://www.fgmr.com/trading-comments-2011-dec-22.html Market liquidity normally dries up around year-end holidays, so this year will probably not be any different. The lack of liquidity means volatility increases, so that may happen this year too Thu, 22 Dec 2011 07:30:00 GMT http://www.fgmr.com/trading-comments-2011-dec-21.html http://www.fgmr.com/trading-comments-2011-dec-21.html As I suspected, December 14th was indeed a selling climax. It marks the bottom of this correction. Gold and silver are now starting the long climb back, but then again, this climb back toward Wed, 21 Dec 2011 09:00:00 GMT http://www.fgmr.com/trading-comments-2011-dec-15.html http://www.fgmr.com/trading-comments-2011-dec-15.html Yesterday felt like a selling climax. If so, it will mark the end of this correction. It was a quick and nasty test of support at the September low. We'll see if support there Thu, 15 Dec 2011 11:15:00 GMT http://www.fgmr.com/trading-comments-2011-dec-14.html http://www.fgmr.com/trading-comments-2011-dec-14.html For a moment yesterday it looked like the breakout I have been expecting had begun. As we know now, it was short-lived, and we are back to where we started. Don't be discouraged by one Wed, 14 Dec 2011 10:30:00 GMT http://www.fgmr.com/trading-comments-2011-dec-13.html http://www.fgmr.com/trading-comments-2011-dec-13.html The bottom will be in place soon enough. When the metals eventually turn higher, be ready to buy on strength. Gold 1) The position bought at $1700.00 on December 12, 2011 was sold later the Tue, 13 Dec 2011 13:15:00 GMT http://www.fgmr.com/trading-comments-2011-dec-12.html http://www.fgmr.com/trading-comments-2011-dec-12.html There has been more re-testing of support than I was expecting. Nevertheless, I still believe that the Sept lows in the precious metals marked the end of this correction and that the potential Mon, 12 Dec 2011 09:00:00 GMT http://www.fgmr.com/trading-comments-2011-nov-28.html http://www.fgmr.com/trading-comments-2011-nov-28.html The end-of-month option related weakness has finished. Looking back months and years from now, we will probably see that the Sept lows in the precious metals marked the end of this Mon, 28 Nov 2011 09:00:00 GMT http://www.fgmr.com/trading-comments-2011-nov-12.html http://www.fgmr.com/trading-comments-2011-nov-12.html The possibility remains that gold and silver may once more test support at $1700 and $32.50 respectively. I recommend buying the dip, or an upside breakout. Gold 1) The position bought at Sat, 12 Nov 2011 17:30:00 GMT http://www.fgmr.com/trading-comments-2011-oct-27.html http://www.fgmr.com/trading-comments-2011-oct-27.html The strong bounce in the metals the past few days indicates my call of a low-risk entry point this past Friday was a good one. The patience we exercised by waiting on the sidelines for nearly a Thu, 27 Oct 2011 09:00:00 GMT http://www.fgmr.com/trading-comments-2011-oct-21.html http://www.fgmr.com/trading-comments-2011-oct-21.html We've been waiting patiently on the sidelines for a low-risk re-entry point. We are there now. Yesterday's sell-off probably marked the low. One never knows of course, Fri, 21 Oct 2011 06:45:00 GMT http://www.fgmr.com/trading-comments-2011-sep-23.html http://www.fgmr.com/trading-comments-2011-sep-23.html Traders were stopped out of their gold positions with good profits. Traders had no positions in silver. Long-time readers know that I do not like to try bottom-picking, but the big Fri, 23 Sep 2011 12:45:00 GMT http://www.fgmr.com/trading-comments-2011-sep-17.html http://www.fgmr.com/trading-comments-2011-sep-17.html Support under $1840 did not hold, which was contrary to what I was expecting. Nevertheless, I did note in my previous comment that support under $1800 was solid, which was again proven this Sat, 17 Sep 2011 16:15:00 GMT http://www.fgmr.com/trading-comments-2011-sep-10.html http://www.fgmr.com/trading-comments-2011-sep-10.html Gold made a new record high this past week, as I suspected it might. But I was surprised by what happened thereafter. Not only did gold drop back one more time to test support at $1840, it Sat, 10 Sep 2011 12:15:00 GMT http://www.fgmr.com/trading-comments-2011-sep-4.html http://www.fgmr.com/trading-comments-2011-sep-4.html The gold chart is difficult to figure out at the moment. It is definitely bullish, but I'm not sure whether gold is ready to soar. It might just drop back one more time to test Sun, 04 Sep 2011 16:00:00 GMT http://www.fgmr.com/trading-comments-2011-aug-12.html http://www.fgmr.com/trading-comments-2011-aug-12.html My attempt to bottom-pick silver yesterday did not work, but it is worth trying again. There are no changes on my gold trading recommendations from yesterday. Silver 1) The position bought at Fri, 12 Aug 2011 13:15:00 GMT http://www.fgmr.com/trading-comments-2011-aug-11.html http://www.fgmr.com/trading-comments-2011-aug-11.html My summer explosion thesis is proving accurate, with both gold and silver accelerating on schedule as mentioned in the last alert. There is nothing to do now with gold, except tighten up the Thu, 11 Aug 2011 17:15:00 GMT http://www.fgmr.com/trading-comments-2011-jul-29.html http://www.fgmr.com/trading-comments-2011-jul-29.html Following on from my last comments, the correction was more than andldquo;a one or two-day eventandrdquo;, but gold indeed held support at $1,600. If my summer explosion thesis holds, look for both Fri, 29 Jul 2011 13:15:00 GMT http://www.fgmr.com/trading-comments-2011-jul-20.html http://www.fgmr.com/trading-comments-2011-jul-20.html My expectation is that this present correction is a one or two-day event. So I believe that now is a good time to add to our trading positions. The interesting development to watch is Wed, 20 Jul 2011 02:00:00 GMT http://www.fgmr.com/trading-comments-2011-jul-6.html http://www.fgmr.com/trading-comments-2011-jul-6.html The probability continues to improve that the correction in the precious metals has ended and gold and silver's long-term uptrends have resumed. Another retest of $1500 and $35 remains Wed, 06 Jul 2011 21:00:00 GMT http://www.fgmr.com/trading-comments-2011-jul-5.html http://www.fgmr.com/trading-comments-2011-jul-5.html There was yet another test of support on Thursday and Friday, and again the previous lows are holding. Today the precious metals have started to climb, which means it is once again time to build Tue, 05 Jul 2011 02:30:00 GMT http://www.fgmr.com/trading-comments-2011-jun-30.html http://www.fgmr.com/trading-comments-2011-jun-30.html The precious metals got one more test of support on Monday and Tuesday. Today's big jump indicates that it is once again time to build up our long positions. Gold 1) The position bought Thu, 30 Jun 2011 02:00:00 GMT http://www.fgmr.com/trading-comments-2011-jun-21.html http://www.fgmr.com/trading-comments-2011-jun-21.html The backing-and-filling in the precious metals is nearly over. It will probably end just before or just after the FOMC announcement due tomorrow. Thereafter, I expect strength in both Tue, 21 Jun 2011 11:15:00 GMT http://www.fgmr.com/trading-comments-2011-jun-14.html http://www.fgmr.com/trading-comments-2011-jun-14.html Gold and silver are in buying zones. My attempt to bottom-pick silver was the right day, but too high a price. Of course, there may be more backing-and-filling as the correction grinds Tue, 14 Jun 2011 06:45:00 GMT http://www.fgmr.com/trading-comments-2011-jun-13.html http://www.fgmr.com/trading-comments-2011-jun-13.html Think about the change in sentiment toward the precious metals that has taken place over the past six weeks. Even though nothing has changed the underlying factors favorable to the precious Mon, 13 Jun 2011 07:15:00 GMT http://www.fgmr.com/trading-comments-2011-jun-7-2.html http://www.fgmr.com/trading-comments-2011-jun-7-2.html Correction - Buy one position on the first Comex silver spot price close in New York above $37.20 [not $36.20]. Apologies for the misprint. Tue, 07 Jun 2011 13:30:00 GMT http://www.fgmr.com/trading-comments-2011-jun-7.html http://www.fgmr.com/trading-comments-2011-jun-7.html The evidence continues to mount that the low point of this correction is probably behind us. But we may have more back-and-filling to re-test support. For now, gold is leading, so the Tue, 07 Jun 2011 07:15:00 GMT http://www.fgmr.com/trading-comments-2011-may-29.html http://www.fgmr.com/trading-comments-2011-may-29.html The low point of this correction is probably behind us. But I am not yet convinced that the correction has ended. In other words, even though support under $1,500 on gold and $35 on silver Sun, 29 May 2011 12:45:00 GMT