Junk Silver – Here Are The Reasons To Buy Now

There are many reasons to purchase a bag of junk silver. Most Americans these days do not know what a bag of junk silver is, although I imagine that half a century ago most Americans actually had a jar of junk silver sitting somewhere in the house. Perhaps I should clarify the term junk silver, and then the vision of a sack of junk silver or a jar of junk silver will make more sense to your mind. Buy Bags of … Read More »

A-Mark Bullion Update

Yesterday’s Federal Open Market Committee was predominantly dovish.  The Fed left interest rates unchanged and the projection for further rate hikes for the remainder of the year was notably less ambitious than in previous meetings.  Gold had been trailing lower for most of yesterday’s trading session but the FOMC ignited it.  Gold shot up to make fresh three month highs before sellers emerged ahead of the 200 day moving average at $1,132.  After failing at the 200 DMA technical barrier, … Read More »

A-Mark Bullion Update

Over the last three weeks, the 100 day moving average (currently at $1,106) has rejected gold’s advances on four separate occasions.  Yesterday’s equity market sell off finally encouraged enough safe-haven bids to lift gold over this hump though. Traders who were short gold ahead of the 100 day moving average were forced to cover positions which has allowed gold to reach three month highs this morning.  Should gold’s momentum continue upward, the next major resistance level is the 200 day … Read More »

Stock Market Irrationality Blame Game

Stocks

Last Friday I posted on the ITM Trading Facebook page an article that was surmising the large drops in the Dow Jones stock market industrial average on Thursday and Friday. These stock market drops delete hundreds of points each and they reminded me of the volatility that I saw in the DJIA back in 2008 when I was a senior analyst on the floor at ITM Trading. One day the stock market would be down 400 points and the next … Read More »

West Point Mint – An Unusual US Mint

If you own gold American Eagles, or if you buy gold American Buffaloes both of those gold coins have one thing in common; both of these gold coins were produced at the West Point Mint. The West Point Mint is very unique in its own right. In addition to being the only US Mint that currently produces gold bullion coins, the West Point Mint was also at one time the largest United States silver depository, and West Point, believe it … Read More »

Chinese Currency Devaluation Explained

Renminbi

China is in the news a lot recently, should I say the financial news, due to a Chinese currency devaluation, but most people who do not study the markets were not involved in the markets professionally don’t truly grasp the severity of China’s current position. Now if you extrapolate China’s current position to include the current position of the United States and its dollar, and this is exactly the kind of information you would get if you consulted an ITM … Read More »

A-Mark Bullion Update

At the European Central Bank meeting today, key interest rates and the existing 1.5 trillion euro monetary stimulus program were left untouched. In ECB President Mario Draghi’s commentary, the door was left open for further European stimulus measures to be considered at the next meeting should the central bank deem them necessary. The euro tanked against the USD in the wake of Draghi’s remarks and gold was brought down with it. The US equity market started off today ripping higher … Read More »

A DOW Crash Of 1000 Points Means Expensive Trouble

One week ago today the market opened to a very sharp decline. In fact, the market suffered a 1000 point DOW crash in the first opening hour. Tumultuous days of trading ensued, with wild swings happening intraday, and the closing bell seeing both the high positive and negative sides of gains and losses respectively numbering in the hundreds of points. Of course, those who were there or those were watching closely remember that just prior to the market meltdown of … Read More »

How To Profit In A Summer Gold Market

This has been an interesting summer in the gold market. There have been erratic and somewhat violent eruptions in the ongoing Greece situation which is exposing itself to be an all-out currency war. We have recently had China devaluate the yuan, which is their currency. They did this simply because they just can’t afford to keep the value of their currency artificially high in very much the same manner that then Pres. Nixon was forced to remove the United States … Read More »

A-Mark Bullion Update

Overnight, Chinese economic data revealed worse than expected GDP growth (y/y) for 2015 with the figure coming in at 6.90% versus 7.30% a year earlier.  It was the slowest growth rate for 25 years but the Shanghai Composite Index ended up rallying over 3% on the day.  Investors shrugged off the disappointing GDP figures and instead focused on the People Bank of China’s decision to inject $91 billion of funds into the market in order to meet medium-term liquidity demand.  … Read More »