Peter Schiff says this could send the price of gold above $1,500 tomorrow, plus more on gold and a shocking look at today’s chaotic trading in global markets.
Schiff: Gold Could Close The Week Above $1,500
August 1 (King World News) – Peter Schiff: “GLD, the exchange traded gold ETF, had an outside day today. In the morning it traded below yesterday’s low, then surged to close above yesterday’s high. This is a very bullish technical indicator. If we get a weak jobs report tomorrow, gold could close the week above $1,500!”
Shocking Look At Today’s Chaotic Trading In Global Markets…
Jeroen Blokland: “The total amount of negative-yielding debt has crossed the USD 14 trillion mark today. It will be much more tomorrow. (See below).
Negative Yielding Debt Crossed $14 Trillion Today
The One To Watch
This is the one to watch! Offshore yuan sinks after Trump announces more tariffs on Chinese imports. Crossing 7 would be bad for market sentiment. (See below).
MORE MARKET CHAOS: Yuan Crossing 7 Would Be Bad
The MSCI Emerging Markets Future has cratered 2.7% since Trump announced a fresh round of tariffs on Chinese imports. (See below).
OUCH! Emerging Markets Futures Crater 2.7% On New Tariffs
Look At This Bloodbath
Crude oil update! Price now down a whopping 8%! (See below).
NOTHING TO SEE HERE: Crude Oil Plunges A Staggering 8%!
The Road To Zero
Wow! The US 10-year Treasury sinks to below 1.90% after Trump says he will impose a 10% tariff on the remaining USD 300 billion of imports from China. (See Below).
WILL US RATES EVENTUALLY GO NEGATIVE? US Treasury Yield Tumbles Below 1.9%
Who Buys This?
The Daily Shot: “Negative-yielding corporate debt approaching $1 trillion (see below).
AGAIN, WHO BUYS THIS CRAP? Negative Yielding Corporate Debt Approaching $1 Trillion
So Much For China Trade Deal
Christopher Smart, Chief Global Strategist & Head of the Barings Investment Institute: “So much for the China trade deal. Tariffs are now part of the furniture.”
Tariff Beatings To Continue
Sven Henrich: “The tariff beatings will continue until morale improves and the Fed cuts rates to zero.”
Plus More On Gold…
Central Banks Continue To PACMAN Gold
World Gold Council: “Central banks bought 224t of gold (net) in Q2, 47% higher y-o-y. Buying momentum continued strongly from last year, which saw the highest level of annual purchases in 50 years. (See below).
HIGHEST IN 50 YEARS: Central Banks Buy 224 Tonnes Of Gold In Q2, 47% Higher Year-Over-Year
World Gold Council: “Global gold-backed ETFs grew 67t in Q2, taking holdings to a six-year high. European-listed funds have absorbed the bulk of inflows so far in H1, underpinned by geopolitical and economic uncertainty. (See below).
Global Gold-Backed ETFs Hit 6 Year High!
World Gold Council: “This quarter saw the gold price shoot to multi-year highs and break through US$1,400/oz for the first time since 2013. Expectations of lower interest rates, political uncertainty and strong central bank buying drove this rally. (See below).
HIGHEST SINCE 2013: Gold ETF Holdings Near All-Time Highs
READ THIS NEXT! Price Of Gold Spikes Near $1,450 And Odds Of Another Rate Cuts Spike To 95%! CLICK HERE TO READ
More articles to follow…
In the meantime, other important releases…
Art Cashin – Then The Other Shoe Fell…And The Bottom Began To Fall Out CLICK HERE TO READ
One Pro Just Warned Panic Rate Cuts Coming In Fall, Investors Should Buy Dips In Gold CLICK HERE TO READ
Celente – Fed Cuts But Monetary Insanity Keeps Gold Above $1,400 Near Breakout That Will Send Gold To $2,000 CLICK HERE TO READ
FED CUTS RATES: Denial Is Powerful And Ultimately Painful, About The Fed, Plus The Biggest Surprise Of The Day CLICK HERE TO READ
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