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September 20, 2019 | Don’t Ignore Today’s Stock-Market Time Machine

Gold fell off a bit of a cliff Wednesday when the Fed cut rates. The rate cut was expected, but uncharacteristically, Powell managed to calm markets in his press conference. For some reason, the paper gold traders in New York decided to ignore the weaker dollar policy of the Fed and sell gold. This was […]

September 19, 2019 | Am I Wrong About Uranium?

The contrarian in me loves how hated uranium has become again. Even some longtime uranium bulls are throwing the towel in. I can see why, so it’s prudent to ask if I could be wrong in my outlook. And of course I could be; I’m a speculator, not a time traveller. That said, I’ve compared […]

September 17, 2019 | The Day Nothing Changed—And Everything Was Different

Nothing really changed when a series of drone attacks took out half of Saudi Arabia’s oil-processing capability last Saturday. Experts have been warning for years that “soft” targets like this infrastructure are extremely difficult to defend. And drones have been proliferating in our skies for years. It was inevitable that someone would put the two together. All […]

September 13, 2019 | Buy on Rumor, Sell on News—Then What?

You’ve probably heard the old Wall Street saying: “Buy on rumor, sell on news.” I’m sure I don’t need to tell anyone that it’s foolish to buy anything just because of some rumor. And yet, savvy speculators know that a strong story can run share prices up much higher than any reasonable valuation. That’s why […]

September 10, 2019 | Gold Sold Off Last Night—And I slept Well

Gold prices have been wobbling. Readers—I’m happy to say—have been writing in to ask what to buy. Yesterday, gold and silver were down sharply and I was able to buy my top silver pick for the price I wanted. When I alerted readers to this, several wrote back saying they’d beat me to the punch […]

September 7, 2019 | The US Dollar vs. Gold—Has Something Changed?

Gold is priced internationally in US dollars. So generally, when the USD rises, gold drops, and vice versa. But over the last year, gold and the USD seem to be rising together. That’s a strong indication of safe-haven demand driving money around the world into both gold and the USD. You can see both the […]

September 5, 2019 | Silver: Happening Now, But It’s Not Too Late

I’ve been reminding readers this year that in a major precious-metals bull market, silver usually lags gold, then goes screaming higher faster. I predicted the gold and silver breakout of 2019 in January, but ever since silver showed signs of getting going in July, I’ve been urging readers to load up on quality silver plays. I argued that though […]

September 4, 2019 | Melville’s Warning

Melville’s 1853 masterpiece, Bartleby, the Scrivener: A Story of Wall Street, has turned out to be too prophetic for comfort. What seemed like an extreme caricature—a negative ideal designed to make a point—is alive and plentiful on Wall Street today. This situation is a cornucopia of opportunity. You see, Bartleby was a law clerk gifted with […]

August 30, 2019 | How to Ride a Golden Bull—Without getting Gored

Gold breaking out of a five-year trading rut in the $1,300 range was a significant financial event. It was evidence of a major shift in global markets. Gold rising above $1,400 and staying there showed the new market reality has staying power. The way gold rose above $1,500 and keeps probing recent highs shows that gold […]

August 28, 2019 | What Happens When the Trade War Is Over?

A lot of investors are thinking that everything would be fine if the US and China could just negotiate a deal to end their trade war. Even some savvy metals investors who know there are deeper problems with the global economy are thinking that copper and other industrial metals in short supply will rebound when […]

August 26, 2019 | Gold Wants to Go Higher… Are You Ready?

I’m sure I don’t need to tell you that the Chinese retaliated in the trade war last week. Trump fired back on Friday, roiling markets even more. It was good to see gold doing its job as a safe-haven asset—and even better to see silver doing the same.     I’ve been saying that it […]

August 23, 2019 | Recession-Proof Industrial Metal Gets a Boost

The drumbeat of bad news for the global economy keeps getting louder and more insistent. China’s industrial growth just hit a 17-year low. Germany, the economic heart of the EU, is also slowing at an alarming rate. And then there’s Italy… and Brexit… and the list goes on. I take no pleasure in other people’s […]

August 14, 2019 | Russian Nuclear Scare, Chernobyl, and Lies

My wife and I just watched the highly acclaimed HBO miniseries, Chernobyl. In the very first minutes, she paused the show to point out tiny details that showed how accurately the producers captured life in Soviet times. For instance, the scientist at the center of the story takes out his trash in a bucket with no […]

August 13, 2019 | ETFs, Gold, and Silver

A reader asked me to discuss the impact of ETFs on precious metals. The basics have been covered many times in articles like this one. So I’m taking the question as: do I have anything useful to add to what people are saying about ETFs? Perhaps I do… Paper Is Not Gold This may seem […]

July 26, 2019 | Uranium: When Price and Value Diverge, There Is Opportunity

When the price of pet rocks crashed in 1976, that didn’t make them a bargain. When the share price of my favorite silver stock dropped 50% over the last year, with no serious bad news from the company, that was a bargain. After this month’s rebound, I’m up 10% over my average cost. I still […]

July 23, 2019 | Near-Term Opportunity, Courtesy of the Fed

Federal Reserve officials have gone into their blackout period before the July 31 FOMC meeting. That means there won’t be any helpful—or hurtful—Fed comments on economic developments before the meeting. This in turn means that financial talking heads will flood us with guesses about every scrap of economic news until then—and bold predictions about what […]

July 18, 2019 | Drink the Kool-Aid, and Your Portfolio Will Be Massacred

One of the most disturbing things about the 1978 Jonestown massacre was that many of the victims knew they were committing suicide. Apparently there were practice runs. People didn’t know if the Kool-Aid was poisoned or not. It was a test of commitment. Students of human psychology—which all investors should be—would do well to remember […]

July 17, 2019 | Silver Breakout—You Won’t Want to Miss It

On June 25, 2019, I wrote that silver’s day is coming, and urged readers to get ready for it. On July 11, I pointed out that silver had not yet broken out with gold, and was a relative bargain. The most common response has been to ask: “When will silver catch up with gold?” To […]

July 16, 2019 | US Uranium Meltdown: Market Error Is Golden Opportunity

As luck would have it, last Friday—the day after I published an article calling uranium stocks the best speculation in the resource sector—a wild market overreaction created some golden buying opportunities. Without citing any sources, an Australian paper reported that it “understood” that Donald Trump would reject a Section 232 petition for support by US […]

July 12, 2019 | US Uranium Plays Take a Hit—And That’s an Opportunity

US uranium plays are taking a big hit today, apparently based on a report from the Australian Financial Review that Donald Trump will not support the US uranium industry as requested in the DoC Section 232 petition. NOTE: The facts may change materially by the time you read this, so please check my Twitter account for updates in between […]

July 11, 2019 | What’s the Best Opportunity Today to Buy Low and Sell High?

Yesterday, Fed Chair Powell’s testimony in Congress sent prices on just about everything higher. Happy days again… But if fortunes are made buying low in order to sell high, which assets qualify as the best “buy low” opportunities today? Well, seeing the green across the board reminded me of the old “one of these things […]

July 9, 2019 | Gold Is Free-Market Money—We Can and SHOULD Profit From Delivering It

I believe that free markets are the most efficient and ethical way to organize human effort for the individual and common good. Please bear with me, because this has important practical implications not everyone has thought through. Accepting the free-enterprise system implies that markets—meaning the people, not the government—should determine what is used for money. […]

July 8, 2019 | No, a Giant Golden Asteroid Is NOT About to Crash the Market

NASA is advancing a mission to explore a metallic asteroid called 16 Psyche to launch in 2022. The immediate result is reporting by sloppy journalists, saying this “golden asteroid” will “make everyone on Earth a billionaire.” Somehow, the same articles say this will collapse commodity prices and perhaps the global economy as well. This is so obviously […]

July 1, 2019 | The Trade War, the Gold Correction, and the Opportunity

Saturday, Donald Trump announced a new ceasefire in the trade war between the US and China. He said the tariffs on $300 billion more of Chinese goods will not go into effect next week. The US also eased up on Huawei, which signals real willingness to negotiate with China. And as soon as gold started […]

June 25, 2019 | Silver’s Day Is Coming—Are You Ready?

Gold just broke out of years of imprisonment in the $1,300 range. Long-suffering gold bugs are breaking out the champagne, and some are cashing in. That’s great, but for investors still looking to make a lot of money, the key fact is that silver has not yet broken out. And silver’s track record tells us […]

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