With gold hovering near the key $1,900 level, the gold correction may be ending soon, plus look at who is buying gold and silver miners across the board.
At Some Point The Debt Will Matter
September 22 (King World News) – U.S. Congressional Budget Office: By the end of 2020, federal debt held by the public is projected to equal 98% of GDP. The projected budget deficits would boost federal debt to 107% of GDP (the highest amount in the nation’s history) in 2023 and to 195% of GDP by 2050. (See chart below).
US Debt vs GDP Just Hit 98%
Estimate: 107% By 2023 & 195% By 2050
Another Day, Another Record
Holger Zschaepitz: ECB balance sheet tops €6.5tn for the 1st time ever as Lagarde keeps printing press rumbling. Total assets rose by another €27.8bn, most since July, on QE. Balance sheet now equal to 63.6% of Eurozone GDP vs Fed’s 36.3% and BoJ’s 135.3%. (See chart below).
ECB Balance Sheets Hit Record €6.5 Trillion!
US Dollar Bear Market Rally
Holger Zschaepitz: After sliding for the past six months, Dollar breaks free from key resistance on haven demand. (See chart below).
This Is What The Gold Market Is Watching
Got Gold?
Ronnie Stoeferle: Global debt/GDP surging to 252%, biggest quarterly jump in history, according to BIS (See chart below).
Global Debt/GDP Hits Staggering 252%!
Gold Correction Ending Soon?
Fred Hickey: According to the SPDR Gold Shares (GLD) website, GLD added 32 tons of gold since last Friday (Sept 18). Assuming it’s accurate (it’s a huge number), the increase more than wipes out the 20 tons of outflow that occurred (in dribs & drabs) since gold’s Aug. 6 top. Could be an important development as investment demand has been the primary driver of this gold bull market and much of the demand has come via the gold ETFs (globally). GLD is the largest ETF. A return to inflows may mean the resumption of the bull market (correction ending soon?)…
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Buying Gold & Silver Miners
Fred Hickey: Buying gold & silver miners across the board (12 different names – including 2 new ones). Details in the next mo. newsletter. Putting some of my cash hoard to work, but still have plenty in reserve. Traders pushing dollar up, gold down. Trying to break $1900 (again). Might fail (again). Even though the US Dollar Index is screaming higher today, there’s no rule that says when dollar is rising against the euro, it also has to rise against gold. Gold should outperform ALL of these rancid fiat currencies as the governments are all fiscally irresponsible and wildly printing money.
Gold Plus Some Really Big Surprises
***ALSO JUST RELEASED: Gold Has Been In A Strong Consolidation, But Here Are Some Really Big Surprises CLICK HERE.
***To listen to 8-time Graham & Dodd Award Winner Rob Arnott, whose firm oversees $150 billion click here or on the image below.
Rob Arnott: Legend And 8 TIME Graham & Dodd Award Winner!
***To listen to Stephen Leeb discuss the upcoming chaos and why gold and silver will be the primary beneficiaries click here or on the image below.
***To listen to billionaire Ross Beaty discuss the coming chaos and why gold and silver will be the primary beneficiaries click here or on the image below.
Billionaire Ross Beaty, Chairman of Pan American Silver!
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