In the first edition of the new Gold Videocast, Peter delivers his verdict on the gold market for the first half of 2014, analyzes Janet Yellen’s performance so far as Fed Chair, and makes some contrarian forecasts for the rest of the year.
1:00 – Gold’s rise has confounded Wall Street banks that advised their clients to sell in expectation of a big correction.
1:40 – Even though the financial media has focused on the Dow breaking 17,000, gold has actually outperformed the Dow this year.
2:10 – Mainstream forecasters have bought into the narrative of a genuine US economic recovery and the ability of the Fed to effectively withdraw its monetary stimulus. In fact, the economy is not recovering and will relapse into recession, perhaps beginning in the second half of 2014.
3:17 – The price of gold is putting in a bottom, supported by the mining stocks. They led the market down in 2013, and are now leading it up.
4:15 – There is going to be a short squeeze as gold sellers try to buy back their positions when they realize the economy is not recovering.
5:30 – Even though the Fed’s own inflation measure has passed its target of 2%, Janet Yellen continues to claim inflation is under control.
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thanks, very realistic
roger
Thanks for the commentd
Great updates
if your ‘buying metals’ like stocks, your going to feel like your a Trader..sleepless nights, worries of buy and sell. however if your stacking it for savings..you know its always going to be there. more time at the pool swimming, less time worrying..!
Thanks for you half-time report! Reports like yours, Greg Hunter’s, Martin Armstrong and others have opened my mind to what’s really going on in this world of today. Thanks again, in providing us with your knowledge and information!
Best Regards
very good report
Thank you for the very informative and prescient comments. I like the new video format.
How is the FATCA law going to affect gold ans silver
Thank you for the question, Sharon. Thus far, FATCA has not had a dramatic effect on our business, but could possibly affect gold held in storage in the future. We strongly advise that you speak with a tax professional about how the law would affect your personal holdings. We would be happy to discuss this with you on the phone – please call us at 1-888-GOLD-160 to speak with a Precious Metals Specialist.
Thanks Peter, it is always good to hear your analysis.
With the Fed annoucing that the QE3 will end in October and they may raise rates, won’t that hurt the price of gold?
Thanks Peter, your video cast is a hit for me. Been following you for many years. Thanks for keeping us Americans informed.