From Birch Gold Group
This week, Your News to Know rounds up the latest top stories involving gold and the overall economy. Stories include: Gold prices hit six-year highs after U.S. strike kills Iranian general, what to expect from gold prices in 2020, and stash of 1,200-year-old gold coins discovered in Israel.
Gold soars alongside other havens after U.S. airstrike kills top Iranian general
On Friday, the appetite for safe-haven assets intensified as investors looked to shield themselves from repercussions of a potential military conflict between the U.S. and Iran. Gold, bonds and the Japanese yen all saw an increase in demand as it was revealed that the deployment of 750 U.S. troops to combat Iran-backed militias in Iraq resulted in the death of Iranian general Qasem Soleimani.
The military action came after two days of sieges on the U.S. embassy in Baghdad, which forced the personnel on site to evacuate. The Department of Defense issued a statement after the strike, revealing that Soleimani was responsible for this and many other recent attacks in the region, which claimed the lives of hundreds of American and Iraqi personnel. Iran’s foreign minister posted an ominous tweet just hours after the statement, and the Fars News Agency reported that Iran’s top officials will soon meet to discuss their response.
Speaking about the developments, Chris Rupkey, chief financial economist at MUFG, said that the markets have been hit with a high degree of uncertainty, as an escalation of the conflict could quickly disrupt the global economy.
Not long after the news, the stock market came under a sell-off that brought the Dow Jones Industrial Average index down by 300 points within a day. Aside from the yen, which appreciated against the dollar, investors also sought out government bonds despite the 10-year Treasury recently posting its worst month on record. Gold has stood out the most among the havens as it has climbed above $1,570, the highest levels since 2013.
After a spectacular 2019, here are some of the drivers that will keep pushing gold up
Gold closed 2019 with an overall 18% gain, making it one of the best-performing assets of the year and bringing prices to levels last seen in 2013. The metal has since shown that the price action was far from a one-off, as gold has managed to climb above $1,570 just days into the new year.
With plenty of tailwinds to power its unparalleled momentum, CNBC TV’s Amit Pabari went over some of the major drivers to look out for this year. The global growth contraction is bound to continue playing a major role in gold’s movement, as economies around the world post increasingly concerning showings. Pabari notes that Germany, one of Europe’s top economies, narrowly avoided a recession with a 0.1% growth rate in the third quarter. According to various analysts, the U.S. faces its own recessionary concerns over the next twelve months.
Pabari also notes that elections in the U.S. have been very favorable for gold, pointing out that three of the last four elections saw the metal climb an average of 23% during the Presidential race. Diversification by both private investors and the official sector is likewise expected to play an important part in the gold market. Central bank purchases in the first six months of 2019 pushed gold demand to a three-year high, with China buying as much as 100 tons of gold and several other countries re-entering the market and showing a renewed interest in bolstering their stockpile. As pundits wait for data to see if last year’s official sector purchases will surpass 2018’s all-time-high figure, Pabari says that investors will follow cue in order to hedge their bets in a potentially overblown stock market.
The metal’s technical chart is another source of optimism, as Pabari thinks gold could follow the same pattern from last year. In 2019, gold jumped from $1,290 to $1,550, traced back to the $1,450 level, and then started climbing again towards the end of the year. Should similar action occur this year, a gain of roughly 15% would translate to gold reaching $1,720. Pabari lists $1,570 as an important resistance level that, if breached, could send gold flying to the aforementioned heights.
Israeli archeologists uncover a 1,200-year-old stash of “Arabian Nights” gold coins
On the fourth day of Hanukkah, archeologists from the Israel Antiquities Authority uncovered a stash of 1,200-year-old gold coins while excavating a site that is being prepared for housing renovation. The hoard, discovered by veteran archeologist Marc Molkondov, is believed to date to the Early Islamic period and was found near a site that the team believes was an industrial area that was active for hundreds of years.
The coins themselves are believed to be a personal stash hidden by an unknown party, as they were found inside a clay jug. Robert Kool, the coin expert responsible for dating the hoard, said that the coins are a remarkable discovery for numerous reasons.
Kool said that some of the coins found in the stash are of mintages rarely found in the region, such as the gold dinars issued by the Aghlabid dynasty that ruled over what is now modern Tunisia. Making the discovery even more exciting, the team noted that one of the coins features the image of Caliph Haround A-Rashid, whose reign formed the basis of the renowned Arabian Nights story.
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Don’t forget to run to your broker and get MIC stocks in your portfolio.
Military Contractors Raytheon, Lockheed Martin See Stock Prices Soar Amid Iran Crisis:
Everyone has their own strategy, but personally, I prefer NOT to vote in support of these companies with the money I can voluntarily withhold. Other companies will benefit from war, without being active promoters of it.
I was being sarcastic but forgot the /s switch.
The 10 year’s at a buck eighty one (not much changed), so the markets don’t seem too roiled. I’m curious about what Trump will say, but I’m more curious about what President Pompeo will do.
Any moron that is willing to blame Soleimani for 9-11, isn’t fit to remain in the US, let alone continue as vice-president. I think we all know what that idiot would do if he were president….and it isn’t pretty. Hopefully Trump will wake up and realize the grave mistake he made, and not have him as his running mate in 2020.
https://www.youtube.com/watch?v=LFlGIZj89PY
Financial writer and book author John Rubino says, “We have entered a new stage which feels like one of the end stages of this process—when governments just give up and don’t even pretend to try and control their finances anymore. Well, we are there. That’s when it will be clear to everybody that is the case, and then your gold goes through the roof. The investment thesis ends with you loading up on precious metals and then riding the inflation and/or monetary reset that has to happen because of past mistakes. . . . The nightmare scenario is if we are already having a financial crisis and then we have a war with China and Russia, it’s unimaginable. I cannot factor that into a scenario for financial asset prices because it is too crazy.”
Join Greg Hunter of USAWatchdog.com as he goes One-on-One with John Rubino, founder of DollarCollapse.com.
“The nightmare scenario is if we are already having a financial crisis and then we have a war with China and Russia, it’s unimaginable.”
then that’s what they’ll do. “the nation that will not serve you shall be destroyed.” plan accordingly.
gman,
Yep, ‘the nightmare scenario, WW3’ is coming at some point, of that there is no doubt in my mind, sad and scary.
At the bottom is a good overview link on WW3 from a Christian perspective…but I’m not Pre-Trib, I lean to Pre-Wrath or Mid Trib, and prepare accordingly spiritually, mentally, and self-sufficiently.
If you’re interested in a good read on prophcy and the Rapture timing subject I recommend this book, I’m almost finished with it: ‘The Prophecy Puzzle’ subtitled: ‘Fitting prophecy from the whole Bible into the book of Revelation, by Joseph R. Ebenhoe’. He proves his points by using scripture from the entire Bible to Interpret scripture in Revelation. Strong book.
The Prophecy Puzzle is an interesting and practical study of the whole book of Revelation. The subtitle is, “Fitting prophecy from the whole Bible into the book of Revelation” and that is what I tried to do. I go into great detail about how and when end-time events will occur. I have no desire to be controversial, but I do believe I have the responsibility to clearly state what I understand the Bible to teach, and unfortunately that will inevitably lead to controversy.
One controversy is the rapture and I believe it will happen near the middle of the seven-year tribulation.
Yes, that is controversial, but I hope you’ll consider the reasons I present and then prayerfully make up your own mind. My goal is not to convince everyone that I am right, but for anyone who reads this book to walk away with a better understanding of God, His plan, His kingdom and salvation. Besides end-time events the book of Revelation is filled with very practical teachings. The gospel of Christ Jesus is presented in several different places, and there are instructions on how to live out the day-to-day Christian life.
I believe you will find this book to be understandable, engaging and beneficial. It is different from other prophecy books in that I believe the style of Jewish writing called, “Parallelism” was largely used in the writing of the book of Revelation. Understanding this gives a much clearer understanding of the book of Revelation, especially in regards to the chronological order of end-time events.
The book of Revelation is also a practical book in that it deals with basic Christian doctrine and I discuss how these doctrines and prophecies should affect our day-to-day lives. Whether you are new to Biblical prophecy or if you’ve been studying it for forty years, you will be challenged with new ideas and possibilities. You might agree or disagree, but you will be engaged in thought and hopefully prayer.
Does Bible prophecy predict that there will be a World War 3 before the end times?
https://www.gotquestions.org/world-war-3.html
” I lean to Pre-Wrath or Mid Trib”
our sunday school teacher is teaching mid-trib. it occurred to me that mid-trib is nothing more than pre-trib with the “tribulation” redefined from the full 7 years to the second 3.5 years, the first 3.5 years being defined as irrelevant and unrecognizable.
“Does Bible prophecy predict that there will be a World War 3 before the end times?”
not as far as I can tell. all the descriptions of the soldiers and weapons are fitted exactly to middle eastern ancient warfare equipments and practices with no deviation whatsoever. if it’s describing a world war, then it’s not III, but IV or later.
“controversy”
having been through the biblical text several times and having listened to many “interpretations” over the years, I’ve concluded that it’s not possible to conglomerate all the disparate prophetic statements into a coherent whole – there’s always going to be an unacceptable gap or a major contradiction to argue over.
gman,
There are many that say that…had a pastor once tell me he was Pan-Trib, it will all panout. However, I believe he was just trying to avoid the controversy in his church, as it is a divisive issue with some.
After five years of almost daily study on it I discount Post Trib…But feel Pre-Wrath, then Mid-Trib, then Pre-Trib are most likely. Not, dogmatic, just believe that is the order I feel is most likely.
The first 3.5 years of the Tribulation will be no picnic. I believe Christians will experience the opening of the first 5 Seals, and sometime of the beginning of the 6th. That will be horrific, but is nothing compared to the 7th Seal on.
Any way you slice it, the ‘Season’ is upon us.
2% is not “soaring”.
well … actually, in this regime of -.1% to .01% interest rates, I guess that is “soaring” ….
and down it goes again. to be fair, that should be called a “crash”.