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August 24, 2009 – Please take a close look at the following chart of the gold/silver ratio.  I have again added to this chart the red horizontal line at 69.  Note that this 69 level is again proving to be a resistance point. It is possible within the next week or two that the ratioRead more

August 24, 2009 – The S&P 500 and the other major stock market averages face an important test in the weeks immediately ahead.  Please take a look at the following chart of the weekly closing price of the S&P 500. The S&P 500 broke down from its downtrend channel as the financial crisis worsened lastRead more

August 24, 2009 – With the US still in a deep economic contraction with rising unemployment, why is the US stock market rising? The Pollyannas on Wall Street and the politicians in Washington would have you believe that the stock market is forecasting better times ahead.  I have an entirely different point of view. TheRead more

August 24, 2009 – I expect considerably more volatility in the markets in the months ahead, particularly for gold and silver. Once gold climbs above $1,000, I expect a whole new ballgame will emerge. The gold cartel will be less effective in managing their staged retreat, so the gold price will rise more rapidly thanRead more

Believe it or not, but I think that we will get one more chance to buy on a dip toward support. There is in my view a better than 50% probability that the precious metals will test support one more time. So be prepared for another dip in prices this week.

August 22, 2009 – The XAU Index continues to make good progress in building support.  One of these days this support will propel the XAU Index above resistance around the 152-154 area, which is the same area of resistance discussed many times recently. In the last commentary I suggested that the XAU Index would probablyRead more

The US dollar is still on the path to hyperinflation. Here are the criteria that I am watching to confirm that the US dollar continues to head for the fiat currency graveyard. 1) Yields on long-term US government paper have been rising ever since the aftermath of the Lehman collapse. As a currency moves towardRead more

The gold/silver ratio is falling.

Gold re-tested support.

August 10, 2009 – We have been holding goldgrams as our Core Currency Position, since March 23, 2001. On May 4th traders sold the US dollar by shorting the Dollar Index at 83.97. Stop out this trade if the Dollar Index closes above 80.80. The Dollar Index broke below 78.40, the low it made inRead more