U.S. Manufacturing Weakest in 10 Years Ep. 498

Published: Sept. 4, 2019, 12:17 a.m.

b'Don\\u2019t miss my upcoming appearances:
\\nThe Las Vegas Trading Conference, Oct. 4-5
\\nThe Dallas Money Show October 13-14
\\nand the\\xa0New Orleans Investment Conference, Nov. 1-4
\\nSilver DID Join Gold\'s Party
\\nBack in mid-July I titled my podcast, "Is Silver Finally Joining Gold\'s Party?". Well, I think we know the answer to that question. Since I recorded that podcast about a month and a half ago, the price of silver is up another 15%.\\xa0 In fact, it\'s up better than 30% since the end of May. Silver having a sterling performance today. As I am recording this podcast, it\'s about an hour after the close of the U.S. market, we\'re up almost 90 cents an ounce. We\'re at 19.22.
\\nGold Still Meeting Resistance at $1,550
\\nGold, not quite having as strong a day as silver; gold isn\'t making a new high.\\xa0 It\'s up $19.50 on the day: $1548.\\xa0 Still having some problems with the $1550 resistance area. GLD, the exchange-traded ETF did make a new high for this move, but the spot market did not register a new high - but I think that\'s just a matter of days - if not hours - before that happens.
\\nSilver is Leading the Charge
\\nBecause silver is leading the charge. It\'s leading gold higher; pretty much the way I said.\\xa0 A week ago, I titled my podcast, "Hi Ho Silver, Away" and that prompted a number of people to comment that somehow I had just capped the silver rally by getting too optimistic on silver.\\xa0 Well, that was a week ago.\\xa0 We just hit $18.00, we\'re now over $19.00, and I said on that podcast, I thought we would have a pretty quick move up to about $20, and once we take out $20, I think this thing could really, really take off.
\\nOverdue Move Down in the Dollar
\\nWhat is going to be the catalyst, I think, for a much bigger move up in both gold and silver is going to be the long overdue move down in the dollar. Paradoxically, when the dollar starts its decline, it is even possible that gold and silver take a bit of a breather, or maybe pull back a little bit, in terms of dollars, but pull back even more in terms of other currencies. Remember, as strong as gold has been in dollars, it has been even stronger in other currencies.\\n\\nOur Sponsors:\\n* Check out Rosetta Stone and use my code TODAY for a great deal: https://www.rosettastone.com/ \\n\\nPrivacy & Opt-Out: https://redcircle.com/privacy'