Asset protection
There are short-term manipulations in and out and they have ALWAYS been on the upside. There is no profit in suppressing the metals. The metals dealers want bull markets the same as stock brokers for then they do a lot more business. Look at the metals promoters. They always say buy – never sell. Most have some interest in the metals business no different than a stock brokers during the Great Depression who advised buy dips and average in.
Retirement planning decisions inevitably surround the issue of money: How to save it, invest it, keep it from the government, use it more productively and efficiently, pass it on to heirs, and spend it in retirement.
When the topic of retirement comes up, most people tend to focus on the questions of “when can I retire?” “How much money will I need to retire?” “How much should I save for retirement?”
With Brussels extending the lockdown for a fourth day, today King World News is featuring a powerful interview with one of the greats in the business that warns that Comex leverage is now a staggering 300 times the available physical gold.
James Turk: “Gold and silver remain bound in shackles in an ironclad lockdown, Eric. Every rally gets snuffed out. That’s the bad news…
The gap in financial wellness is narrowing, but the data in this report still hits home hard – women need to save more than men AND do it faster.
Darcie Crowe, Crowe Wealth Management
Men are short of a standard goal by $270,000. Women? Half a million dollars, according to a new report.
So here’s what you need to do: Just save a lot more while earning a lot less.
While both men and women face big retirement-savings challenges, the hurdle is higher for many women. To have a decent standard of living in old age, women, who earn on average 78 cents to a man’s dollar, need to save $126 for every $100 men do.
That’s the conclusion of a report analyzing savings shortfalls faced by both genders… CLICK HERE for the complete article
The bear market in the gold miners has been one for the record books but it is not over yet. Last week we noted that precious metals were on the cusp of making new lows while the US$ index was very close to another key breakout. This scenario remains well in play and would certainly affect the gold mining sector, which over the past two weeks failed to rebound or build on any strength.
Below is a daily candle chart that shows GDXJ (large juniors) and GDX (largest miners). Before Friday both markets had essentially traded nowhere or sideways over the past 10 days. That could be enough time to “work off” the oversold condition that developed after the miners declined 16% and 18% over the previous eight days. Friday’s sharp decline reduced the miners chances of testing the 50-day moving average and could be the start of the next leg lower. Any strength next week could be capped near $19.50 in GDXJ and $14.00 in GDX. A daily close below $18.00 in GDXJ and $13.00 in GDX could quickly lead to lower levels.
GDX and GDXJ have formed small hammers on the weekly candle charts but volume and size (of the reversal) are lacking. The miners appear to be biding time before an inevitable break to new lows. Unless they can close above the highs of this week or form a huge reversal next week, the prognosis for the weeks ahead remains bearish. Finally, note that previous declines lasted nine to ten weeks. While this decline may not last as long, it could continue for several more weeks as miners are not yet extremely oversold on a weekly basis.
The path of least resistance for gold shares (and the rest of the sector) continues to be lower. The miners, after 10 days of sideways action face an increased risk of a breakdown to new lows. While the entire sector is oversold and bounces can happen, note that severe selloffs and steep losses are born out of already oversold conditions. As Gold bulls we do not want to be buyers until we see a sector that becomes extremely oversold and is trading near strong support levels (i.e $970-$1000 Gold) amid extreme bearish sentiment.
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