Underneath relatively calm closes, there was quite a bit of turmoil in global markets. Here is a look at the gold pullback, a Brave New World, silver could go straight to $20, and why it may be 1929 all over again.
A Brave New World
July 25 (King World News) – Lawrence McDonald, Former Head of Macro Strategy Societe Generale: “Negative out to 50 Years: The entire Switzerland yield curve has now fallen into negative territory as 50-year yields fall below 0% for the first time since August 2016.”
Say It Isn’t So
Holger Zschaepitz: “ECB’s Draghi: Inflation expectations have declined. Says significant monetary stimulus is needed. Risks to economic outlook still tilted to downside. (See chart below).
SAY IT ISN’T SO: “Significant Stimulus Is Needed” As Economic Risks Still Tilted To Downside
1929 All Over Again?
John Hussman: “Our estimate of 12-year prospective returns for a conventional portfolio mix (60% S&P 500, 30% Treasury bonds, 10% Tbills) is now down to 0.46%. The single week in history with a lower estimated prospective return was August 26, 1929 at the market peak. Just FYI. (See chart below).
GREAT DEPRESSION II? The Only Comparison Dates Back To August 26, 1929 At The Market Peak
Gold Pulls Back
Jeroen Blokland: “Gold tumbles as rates rise after nuanced message from Draghi. ECB still likely to cut rates and start QE, however. (See chart below).
Gold Pulls Back As It Consolidates Recent Gains
After Failing For 10 Years…
Sven Henrich: “After having failed reaching inflation targets for 10 years in a row maybe, just maybe, central bankers don’t know what they’re doing. But let’s wait another 10 years to reach a definitive conclusion.”
Silver Could Go Straight To $20
Graddhy out of Sweden: “Get the feeling that silver is forming a bullish rising wedge right on the neckline for my double bottom, which would be a running correction. Very bullish normally and if so, even extra bullish here as it sits right on a large neckline. We could go straight to 20. (See charts below).
Despite Pullback, Silver Could Go Straight To $20
Silver Weekly Chart Also Bullish After Breakout
This Ignited Gold Before Pulling Back
READ THIS NEXT! This Is What Ignited The Gold Market In Early Trading Before Pulling Back CLICK HERE TO READ
More articles to follow…
In the meantime, other important releases…
Richard Russell Warned People To Prepare For Something Worse Than 1929-1932, And Will U.S. Seize Gold? CLICK HERE TO READ
The Final Fantasy, Lowest Since 2009, Silver Outpacing Gold, Plus Chart Of The Day: Train Wreck CLICK HERE TO READ
Gold & Silver On The Move, Plus How Is This Even Possible? CLICK HERE TO READ
This Should Send Gold Soaring, ECB To Restart QE, IMF Warns, Plus Chart Of The Day CLICK HERE TO READ
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