Spaniards who violate the ban will face fines of 25% of the payment made in cash. Continue reading
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David Chapman
Technical Scoop:Chart of the Week – Long term trend of gold remains intact by David Chapman Continue reading
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Several analysts have declared that the gold bull market is dead, the bubble has burst and a gold bear market has begun. But bubble markets go up relentlessly, and when the bubble bursts the market… Continue reading
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The Bureau of Economic Analysis (BEA) released its headline US GDP number (2nd estimate) for the 3rd quarter on Tuesday. The number was revised down from 2.5% to 2%. The market had been expecting at least 2.3%. As Shadow Government Stats www.shadowstats.com points out this is little more than statistical noise. They noted that given a 95% confidence interval this number could have easily been negative as it was positive. Continue reading
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A weekly chart of gold dating back to the start of the bull market in 2001 shows the yellow metal has been in a relentless uptrend since its double-bottom lows near $250 in 2001. Based… Continue reading
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Consumer confidence in the US continues well below its longer term regression. The most recent reading
was 58.5 which is well below its regression (long term trend) over the past thirty five years of 83.8. Continue reading
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The final component of the growing crisis is the price of oil. Oil drives the Western economies and is also driving the emerging economies in China and India. The unrest in the Middle East and North Africa threatens low oil prices. The Middle East produces 65 per cent of the world’s daily output. Most countries are producing at near full capacity. For the few that are not, such as Saudi Arabia, the additional oil is heavy oil where refining becomes an issue. If the political situation deteriorates further, oil prices could rise further and that would translate into another hike in energy prices. Continue reading
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