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Why Buy Bonds When You Can Buy Gold? – Ep. 178
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I wish everybody a happy July 4th weekend; U.S. markets will be closed It's unfortunate that we can't really celebrate all the traditions that we're supposed to be honoring were lost generations ago The values our founding fathers risked their lives for have all been lost I wanted to comment on what is going on in the markets particularly today Today was the capper on the week You had silver prices up about a dollar an ounce Gold closed up about $19, so gold closed above $1340 Maybe by the time the market opens on Tuesday silver will be over $20/ounce Who knows, maybe gold will be over $1400? This is a powerful rally - gold finished at three year highs today GDX was up about 5% on the day The stock market didn't do that much today, but the real story, other than the gold market is in the bond market U.S. Treasury yield plunging again - these are the lowest yields ever Certainly below the crash lows The yield on the 10-year treasury is below 1.5% The yield on the 10-year treasury is 2.24% So yields are plunging, bond prices are surging What is going on? The answer is money printing; Quantitative Easing The most recent catalyst being the Brexit vote, which scared the hell out of everybody because of the collapse, particularly of the European banks Now the central bankers are rushing to the rescue all around the world
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