Gold Exploded Higher, But Gold And Gold Stocks Remain Incredibly Cheap

After the price of gold exploded higher on Wednesday, gold and gold stocks remain incredibly cheap.

Gold Surge
August 20 (King World News) – Peter Schiff:  Today the Trump administration should have dashed any remaining hopes that Warsh will achieve his goal of 2% inflation. Gold’s rise of more than $170 so far today, trading above $4,500, confirms that higher inflation is not only here to stay, but that it’s headed much higher.

Gold Stocks
Ronnie Stoeferle:  GOLD STOCKS ARE CHEAP. 

KING WORLD NEWS NOTE: HUI Gold Miner Index PE (GREEN LINE) Is Remarkably Cheap at Just 11x Earnings!

More QE
Willem Middelkoop:  First, the FED has quietly added over $300 billion to its balance sheet since the start of this year (by buying Treasuries)

Now, the US Treasury joins the party to support the Treasury markets a bit more .. 

The money needed for these operations is printed out of thin air 

All done in a desperate effort to lower US interest rates 

Markets understand, so all that can’t be printed (gold, silver, bitcoin) is off to the races

This is massive support of US bond markets by increasing the money supply, in order not to lose control 

Call it what you want, in my world it’s called QE…

Listen to the greatest Egon von Greyerz audio interview ever
by CLICKING HERE OR ON THE IMAGE BELOW.

Gold Rips Higher
Willem Middelkoop:  Major North American Bank Comments:

Gold ripping +4% as the classic conspiracy theory of “yield curve control” has now become a reality

The debasement trade is alive and truly kicking. As we have consistently written, Bessen has a decision given the US’ fiscal math: “save the UST or save the USD; you cannot save both.” His hand has been forced by the recent price action of the long-end of the yield curve.

 Conventional Wall Streeters will say this is “Not QE” in the same way the RMPs by the Fed was not “QE.”  We still don’t know the full details, but the fact is the Treasury is trying to contain the long-end of the yield curve is incredibly bullish gold. 

Specifically, it will raise “by at least double, the size of liquidity support buyback operations for longer-dated nominal coupon securities (10-20 and 20-30yr sector). “At least $4bn per month” to keep a bid for the surging long-end of the curve. 

Whilst mainstream insists it’s not QE as the stock of debt is not increasing, there is no explanation for where the buying is coming from; certainly no claim the Treasury is going to be dumping bills to fund bond bids

Gold Remains Incredibly Cheap
Otavio Costa:  Here is the wild part about the Treasury market today:

The US debt‑to‑GDP ratio is now roughly on par with World War II — actually a bit worse.

However, back then:

Nearly 50% of all Treasuries were backed by gold.
Today, it’s about 3%.
That’s how deep the problem runs.

US 10-Year Yield Maintains Breakout
Alasdair Macleod:  Bessent’s yield suppression scheme has taken the steam out of rising UST yields for now. But I note that main stream media has finally woken up and together with USG debt crossing the $40 trillion barrier are alerting the sleepy public to why rising bond yields are a problem.

The chart detail below puts it in a technical context:

$180 Silver
To hear how high Nomi predicts the price of gold and silver will be next year CLICK HERE OR ON THE IMAGE BELOW.

Could The Price Of Gold Surge To $8,000 In Just A Few Months?
To listen to Alasdair Macleod discuss skyrocketing gold, silver, oil, and mining stocks CLICK HERE OR ON THE IMAGE BELOW.

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