Gold Bottoming In Late December, For The Second Straight Year?

By: Andrew Hoffman

After publishing my "2016 review, and 2017 predictions" opus on Friday; and writing the MUST READ "why Bitcoin will make gold and silver go up" on Christmas Day; I wasn't planning to write this morning. However, several articles and news items inspired me to pen today's offering; which per its self-evident title, suggests we may be amidst perhaps the best Precious Metals buying opportunity since a year ago, when prices bottomed the day the Fed, LOL, "raised rates" to "preserve credibility - when none exists."

And none more so than the following tweet from Donald Trump; who, for all his brilliance, is too dumb to realize that the reason the final phases of "history's largest bubble (U.S. stocks) and anti-bubble" (paper Precious Metals)" were inflated and deflated, respectively, in the wake of his election were NOT due to renewed "hope," but TPTB's all-out desperation to portray this historically anti-establishment event in a positive light, amidst the historic global fixed income and currency market carnage that ensued. Not to mention, as the simultaneous commodity bubble I discussed three weeks ago is starting to deflate, in a quite material manner. And by the way, talk about propaganda, from El Presidente himself! I mean, what exactly does "Christmas spending is over a trillion dollars" mean? Last I looked, the holiday spending season has been disastrous!

Next, an actual - I kid you not - You Tube clip from the Bank of Canada itself warning of why it believes the Canadian housing bubble (my term, not theirs) is about to burst. Which sadly, is the case in nearly all major money printing nations, now that the Central-bank fostered, 35-plus year bond bubble - er, "bull market" - appears highly likely to be over.

Next, articles emphasizing how not only has the Chinese government expanded its increasingly vocal admissions that its economy is dramatically slowing (hence, portending additional Yuan devaluation, capital flight, and capital controls); but that it may well be on the verge of instigating a war with its long-time political and financial enemy, Taiwan.

And last but not least, articles from Ronan Manly regarding the systematic overstatement of London Inter-commodity Exchange and New York COMEX gold inventories (and by proxy, silver as well); and Dave Kranzler, of how not only has gold been down for seven straight weeks (since the election) for the first time ever; and not only are Swiss refiners paying large premiums for physical metal - just like Indian and Chinese consumers; but that gold market "pessimism" - amidst the most powerfully strong, across-the-board fundamentals in (my) memory - has fallen to its lowest level since...drum roll please...exactly a year ago, when prices dramatically bottomed.

Regarding the latter, trust me, this is no "coincidence" from a timing perspective; as in recent years, the Cartel has made it a habit of not only demoralizing Precious Metal holders at year-end, but destroying the performance of "big money" investors daring to hold gold, silver, and/or mining stocks - like hedge and mutual funds - to discourage them from "trying again" the following year.


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