The final fantasy, lowest since 2009, silver outpacing gold, plus chart of the day…train wreck.

Silver Outpacing Gold
July 24 (King World News) – Jeroen Blokland:  “Silver is outpacing gold in recent weeks. But that is only after the gold/silver ratio came near record high levels. (See chart below).

Silver Outpacing Gold After Gold/Silver Ratio Approached Record Levels

Continued Economic Weakness
Jeff Snider at Alhambra Partners:  “Undermined by one of their own. Powell says economy is fine outside of “crosscurrents.” Fundamental backdrop of further weakening: Chicago Fed NAI suggest growth is below-trend for all of 2019 so far. (See chart below).

ECONOMIC WEAKNESS CONTINUES: Below Trend For All Of 2019

Lowest Since 2009
Jeff Snider at Alhambra Partners continues:  “IHS Markit US Manu PMI falls right to 50 line; lowest since 2009. Manu Output at 48.9, suggesting why the layoffs have already started. Also why they may continue: “Future prospects have also darkened to the gloomiest since comparable data were first available in 2012.” (see chart below).

LOWEST PMI READING SINCE 2009: Layoffs Have Already Started

Manufacturing And Global Trade Leading Weakness
Jeff Snider at Alhambra Partners continues:  “Back in June, Fed Chairman Powell admitted “the crosscurrents have reemerged.” They didn’t actually re-emerge. Manufacturing and global trade leading the continuing weakening. (See chart below).

CAUTION: Manufacturing And Global Trade Leading Weakness

The Final Fantasy
Sven Henrich:  “Final fantasy: Central banks buying stocks directly stimulates economic growth. The thinking reveals an important reality & that is the corollary is true as well: Sinking stock prices impact economic growth negatively, hence must be prevented at all costs. This is why the Fed jawbones or goes full dovish during each correction. Latest example was early June. And this is how you create perpetual asset bubbles.”

CHART OF THE DAY
Keith McCullough, CEO at Hedgeye:  “CHART OF THE DAY: Train Wreck — Germany (See below).

CHART OF THE DAY: The Great German Train Wreck

Bill Fleckenstein discusses in detail what investors should be doing now after the surge in gold, silver and the shares as well as the discussing the action in gold and silver and what to expect next in his KWN audio interview and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.

Gold & Silver On The Move, Plus How Is This Possible?
READ THIS NEXT! Gold & Silver On The Move, Plus How Is This Even Possible? CLICK HERE TO READ

More articles to follow…

In the meantime, other important releases…

This Should Send Gold Soaring, ECB To Restart QE, IMF Warns, Plus Chart Of The Day CLICK HERE TO READ

Gold, Look At What Just Hit A 5-Year High, Plus QE Infinity CLICK HERE TO READ

Gold & Silver, Debt Ceiling And The US Dollar, Plus One Hell Of A Collapse CLICK HERE TO READ

Gold & Oil, Big Money Flowing Into Silver And Silver Stocks, Plus Print And Leverage Big-Time CLICK HERE TO READ

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