Here is a look at $2,764 gold, what a summer for silver, a crazy world, plus the chart of the day.
TELLING: One Year Returns
September 4 (King World News) – Lawrence McDonald, Former Head of Macro Strategy at Societe Generale: “One Year Returns are Telling Us Something
US Treasuries: +36%*
Utilities +21%
Staples +17%
S&P 500: +2%
Facebook +2%
Google -4%
Apple -10%
Netflix –21%
What A Summer For Silver
Lawrence McDonald, Former Head of Macro Strategy at Societe Generale: “What a Summer for Silver, now up 35% since late May.”…
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What A Crazy World
Daniel Lacalle, Chief Economist at Tressis: “The exponential rise of gold and negative yield debt are clear symptoms of the global slowdown and diminishing faith in central banks’ magic wand. Markets seem to discount both global slowdown (hence neg yield bonds) and rising currency risks in Emerging Markets (hence gold) (See below).
Massive Rise In Gold And Negative Yield Debt
Chart Of The Day
Plus the chart of the day from Keith McCullough (see below).
CHART OF THE DAY: Gold (Yellow) vs Emerging Markets (Red)
Inflation Adjusted $2,764 Gold
Holger Zschaepitz: “Gold would need to rise to $2,764/oz to make new peak in real terms, DB has calculated. 2 most extreme gold rallies in history were marked by high inflation from 1978-82, when gold peaked at $2,764/oz on Jan 21, 1980, & QE from 2008-13, when gold peaked at $2,127/oz on Sep5, 2011. (See below).
Deutsche Bank: Gold Would Need To Rise To $2,764 To Make A New All-Time High In Real Terms
Comex Gold
Ole Hansen, Head of Commodity Strategy at SaxoBank: “The speculative net-long in Comex gold futures rose by 1% to reach a record 288k lots. Interestingly the gross-short jumped the most in six weeks, potentially driven by spread trades against silver as it broke above $17.50 (see below).
Record Speculative Net-Longs In Gold
Speculative Silver Net-Longs Still Far From Record Levels
This Is Not Good
Jeroen Blokland: “Japan’s corporate profits -12.0% YoY in Q2, biggest drop in eight years! (See below).
Japan’s Corporate Profits Plunge 12% Year-Over-Year, Biggest Drop In 8 Years!
Gold Targets
Graddhy out of Sweden: “Here we can see that the next major fibonacci level is pretty close at circa $1,575. And that the price target for my version of the inverse h&s is circa $1,785. To the left we see that even during the rise back in 2010/11, it came back perfectly to EMA150 daily=EMA30 weekly. (See below).
Gold Targets Of $1,575 And $1,785
Silver Surges 5%, Gold Rallies, Plus Big Surprises
READ THIS NEXT! Silver Surges 5% And Gold Rallies Near $1,550 As Stocks Tumble But Here Are The Big Surprises CLICK HERE TO READ
More articles to follow…
In the meantime, other important releases…
We Are Now Reaching The Monetary Policy Endgame CLICK HERE TO READ
GOLD UPDATE: One Of The Greats Says Despite Volatility Gold Bull Is Headed To $1,800 CLICK HERE TO READ
What A Wipeout, Hedge Fund Gold Bets Increase, China Can Play The Game…But They Are Losing, Plus A Reality Check CLICK HERE TO READ
This Is What Is Really Driving The Price Of Gold Higher CLICK HERE TO READ
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