Gold – “Mother of All Bull Markets Has Only Just Begun” – Grandich

There are many reasons to believe that “the mother of all bull markets has only just begun” for gold.

So believes Peter Grandich, the market analyst dubbed the “Wall Street Whiz Kid” whose track record speaks for itself. He called the Wall Street Crash in 1987 and subsequent sharp stock market recovery, the end of the bull market in stocks in 2000 and the global financial crisis in 2008.


Gold in USD – 1971 to Today

On his website this week he entertainingly and insightfully outlined why he is so positive on gold:

I’m not going to write some long dissertation but rather just highlight some of the reasons I personally believe gold is in the earliest stages of what can turn out to be its biggest bull market ever.

The bullish fundamentals for gold ownership grow almost daily. Again, I could write pages of why, but I will just point out a few key ones:

1 – The severe gold correction literally wiped away every ounce of bullishness. It had come to last one out of the bullish camp, please turn off the lights. While bullishness is off the canvas now, we still see little or no interest in gold overall while its main rival, financial assets, are now in a full bullish blow-off mode. Being a supporter of gold is like being the “Maytag Repairman” when compared to what most investors and professional are loaded to the gills with (financial assets).

2 – We’re now just about 180 degrees where we were in 1980. Back then, financial assets were called “dead” and investment “war rooms” preaching gold ownership were widespread. Gold is the ultimate contrarian play and on a valuation basis compared to stocks and bonds, relatively cheap.

3 – Whether its debt bombs all around the world, paper currencies being debased faster than “Grant took Richmond”, or Central Banks getting ready to launch funny money from helicopters in a last futile attempt to correct their quantitative easing failures, take your pick on the inevitable ignitor that will lead to a blow up of financial systems. It’s not if, but when!

I can go on and on why this former “soothsayer” believes gold is going much, much higher. I would suggest if you’re serious and want to consider it as part of your portfolio, we’re coming close to a break out point where if and when it occurs, I suspect an acceleration to the upside will take place.
See full article here

Peter Grandich was the author of The Grandich Letter for a quarter century and had a wide audience with his subscriber base and in the financial media, such as The Wall Street Journal, MarketWatch and CNN. Peter was dubbed “the Wall Street Whiz Kid” after he forecast the 1987 stock market crash weeks before it happened. He then predicted that the market would reach a new all-time high within two years. It did. He said that 2000 would see the end of the great bull market of the 1980s and 1990s. It was. Early in the new millennium, he thought U.S. banks had gone “overboard in making loans that required near-perfect economic conditions in order to avoid substantial bankruptcies.” Another spot-on prediction. In October 2007, he warned investors to “man your battle stations” and prepare for the “unprecedented economic tsunami” that would hit America beginning in 2008.

Gold and Silver Bullion – News and Commentary

“Set up is quite bullish as we enter the fall, with autumn being a good period for gold seasonally” (MarketWatch)

Gold bounces after Fed minutes- Back above important technical level $1,350  (MarketWatch)

Gold rises on weaker dollar as Fed minutes cool rate hike expectations (Reuters)

Gold up in Asia as investors note FOMC minutes, Japan trade (Investing)

Gold set for longest run of gains in six weeks on Fed rate view (BusinessTimes)

Low rates starting to wipe out pension funds – Max Keiser (MaxKeiser)

A Black Day in Monetary History – Bill Bonner  (BonnerAndPartners)

This Week In 1971: President Nixon Closes the Gold Window (ZeroHedge)

FTSE in “critical technical zone” (MoneyWeek)

Expect A Chaotic Fall, But Gold & Silver Will Shine – Embry (KingWorldNews)

Gold Prices (LBMA AM)

18Aug: USD 1,347.10, GBP 1,023.93 & EUR 1,190.84 per ounce
17Aug: USD 1,342.75, GBP 1,031.23 & EUR 1,191.96 per ounce
16Aug: USD 1,349.10, GBP 1,039.89 & EUR 1,197.33 per ounce
15Aug: USD 1,339.20, GBP 1,037.21 & EUR 1,198.85 per ounce
12Aug: USD 1,336.70, GBP 1,032.60 & EUR 1,199.02 per ounce
11Aug: USD 1,344.55, GBP 1,037.05 & EUR 1,206.06 per ounce
10Aug: USD 1,351.85, GBP 1,035.11 & EUR 1,209.23 per ounce

Silver Prices (LBMA)

18Aug: USD 19.78, GBP 15.04 & EUR 17.47 per ounce
17Aug: USD 19.57, GBP 15.04 & EUR 17.37 per ounce
16Aug: USD 20.04, GBP 15.43 & EUR 17.77 per ounce
15Aug: USD 19.90, GBP 15.40 & EUR 17.81 per ounce
12Aug: USD 19.87, GBP 15.33 & EUR 17.81 per ounce
11Aug: USD 20.21, GBP 15.56 & EUR 18.13 per ounce
10Aug: USD 20.34, GBP 15.55 & EUR 18.19 per ounce


Recent Market Updates

– 45th Anniversary Of Nixon Ending The Gold Standard
– Gold In UK Pounds Collapses 38% Versus Gold and 56% Versus Silver Year To Date
– Will Ireland Be First Country In World To See Bail-in Regime?
– Money “Madness” Negative Interest Rates Sees Gold Buying Surge
– Gold Investment Demand Reaches Record In First Half 2016 On “Perfect Storm”
– Peak Gold – Did Gold Production Peak in 2015?
– Financial Times: “Victory For Gold Bulls Is Only Just Beginning”
– Irish Banks Most Vulnerable In Stress Tests – Banking Contagion In EU Cometh
– Gold In Sterling 2.2% Higher After Bank Of England Cuts To 0.25% and Expands QE
– Silver Kangaroo Coins – Sales Surge To Over 10 Million
– Trump, Clinton, “Ugliest” Election Coming – Gold’s “Summer Doldrums” Prior To Resumption of Bull Market
– Marc Faber: Invest 25% Of Investment Portfolios In Gold Bullion
– “Could Not Invent A More Bullish Story For Gold Bullion”

Mark O'Byrne

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