webcastGoldTrump.jpgBetween June 2004 and June 2006, the FOMC increased its target funds rate by 25 basis points at 17 consecutive meetings! During the span, fed funds more than quintupled, from 1.0% to 5.25%, yet spot gold climbed as much as 86% along the way (from $392.55 to $730.40).
Obviously, Fed tightening has far less reflexive impact on the gold price than commonly perceived.

Precious metals have given back a large portion of their 2016 gains. Nevertheless, 2017 has started with a bang. Perhaps we have finally put in the low many of us have been anticipating.
David Morgan, publisher of The Morgan Report a research newsletter focused on the silver and gold marketscertainly thinks so…

trumpHistory tells us that in the gold market it is quite common to experience sizable corrections (often 50%) following first leg of a new bull market:

gold-bar-vaultWe have long maintained the central thesis for gold is more complicated than a simple hedge against inflation, deflation or economic collapse. 
We view gold as a mandatory portfolio asset in an investment landscape in which paper claims on productive output (stocks and bonds) have wildly exceeded reasonable relation to underlying productive output itself (GDP).
While the Fed may ultimately attempt in December its second rate increase in ten-and-a-half years, it is important for investors to “see the forest through the trees,” and recognize that macro fundamentals supporting the gold thesis only continue to strengthen:

banksThe IMF reported last week that global debt hit a record $152 trillion.  I’m old enough to remember when a million was a lot, and in the past two decades we have blown right through talking of millions and billions and are now throwing around trillions like its nothing…

EmbryFor investors who are both just beginning their foray into gold investment, and for those who have been long time proponents of gold, Sprott Senior Advisor John Embry breaks down the recent history of the U.S., highlighting the pressures that have brought fiat currency to the brink, U.S. debt liabilities to staggering heights, and gold back to the institutional investor’s crosshairs.
It’s a must-hear, dispassionate and highly instructional speech for anyone seeking to fully understand the state of the global economy and its implications for gold and silver, and why gold remains a cornerstone of a well-constructed portfolio today:

gold-bar-vaultBill Gross just called out Janet Yellen as the penultimate market manipulator.
His solution for investors? Avoid stock and bonds, move toward gold bullion and tangible assets.
We’re glad Mr. Gross has finally caught up.
But as this has been an ongoing narrative for gold investors since 2011, we asked Rick Rule what has changed in the gold story…