Time to position in gold is right now James Rickards
Fed has hit the ‘pause’ button; No more rate hikes for foreseeable future
Fed’s theories bear no relation to reality and has blundered by raising rates
Growth is weak, inflation is weak, retail sales and real incomes are weak
Tight money, weak economy & stock bubble classic recipe for market crash
Reduce allocations to stocks and reallocate to defensiveassets such as gold
Gold will be the big winner when the Fed suddenly realizes its blunder
Gold in USD 10 Years
James Rickards, geopoliticaland monetary analystand best selling author of ‘Currency Wars’, ‘The Death of Money’and‘The New Case for Gold’wrote yesterday in the Daily Reckoning that thetime to position in gold is right now.
In an timelypiece, Rickards points out how the Federal Reserve is behind the curve, hastheories that bear no relation to realityand hasblundered by raising rates.This is happening at a time when the U.S. economy and stock markets are very vulnerable.
Rickards warns that growth in the U.S. remains weak, as are inflation, retail sales and real incomes. Tighter money in a weak economy with a stock market bubble is a classic recipe for stock market crash.
After making his case succinctly Jim concludes:
It’s time for investors to go into a defensive crouch by selling stocks and reallocating assets to cash, Treasury notes, gold and gold mining shares.
In particular, gold will be the big winner when the Fed suddenly realizes its blunder and has to pivot quickly to ease, probably by late summer. The time to position in gold is right now.
Jim Rickards
for The Daily Reckoning
News andCommentary
Dollar Falls as Trump Agenda Falters; Gold Climbs (Bloomberg.com)
Gold Prices Aim Higher as Fed Rate Hike Bets Continue to Wilt (DailyFX.com)
Gold steady near highest in over two weeks on weaker dollar (Reuters.com)
U.S. Republicans left scrambling after health bill sinks again (Reuters.com)
Homebuilder Sentiment in U.S. Declines to an Eight-Month Low (Bloomberg.com)
Depository Silver Stocks. Source: Goldchartsrus.com
New U.S. Subprime Boom, Same Old Sins: Auto Defaults Are Soaring (Bloomberg.com)
Financial Repression To See Balanced Portfolio Return Just 1% Annually (HussManFunds.com)
China just had a ‘Black Monday’ (BusinessInsider.com)
JPM seems to have stopped stacking Comex metal (TFMetalsReport.com)
Gold gains new lustre as global threats go (DailyMail.co.uk)
Gold Prices (LBMA AM)
19 Jul: USD 1,239.85, GBP 950.84 & EUR 1,074.83 per ounce
18 Jul: USD 1,237.10, GBP 949.47 & EUR 1,071.82 per ounce
17 Jul: USD 1,229.85, GBP 940.71 & EUR 1,074.03 per ounce
14 Jul: USD 1,218.95, GBP 940.54 & EUR 1,067.92 per ounce
13 Jul: USD 1,221.40, GBP 944.51 & EUR 1,071.05 per ounce
12 Jul: USD 1,219.40, GBP 947.60 & EUR 1,064.29 per ounce
11 Jul: USD 1,211.90, GBP 938.98 & EUR 1,063.68 per ounce
Silver Prices (LBMA)
19 Jul: USD 16.23, GBP 12.44 & EUR 14.08 per ounce
18 Jul: USD 16.17, GBP 12.41 & EUR 13.99 per ounce
17 Jul: USD 16.07, GBP 12.30 & EUR 14.02 per ounce
14 Jul: USD 15.71, GBP 12.11 & EUR 13.76 per ounce
13 Jul: USD 15.95, GBP 12.34 & EUR 14.00 per ounce
12 Jul: USD 15.83, GBP 12.31 & EUR 13.82 per ounce
11 Jul: USD 15.51, GBP 12.02 & EUR 13.61 per ounce
Recent Market Updates
Bloomberg Silver Price Survey Median 12 Month Forecast Of $20
Bigger Systemic Risk Now Than 2008 Bank of England
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India Gold Imports Surge To 5 Year High 220 Tons In May Alone
Silver’s Plunge Is Nearing Completion
China, Russia Alliance Deepens Against American Overstretch
Silver Prices Bounce Higher After Futures Manipulated 7% Lower In Minute
Precious Metals Are Best Defence Against Bail-ins In Economic Crisis
Buy Gold Near $1,200 As Insurance UBS Wealth
UK House Prices ‘On Brink’ Of Massive 40% Collapse
Gold Up 8% In First Half 2017; Builds On 8.5% Gain In 2016
Pensions Timebomb In America National Crisis Cometh
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