It's time to care again about gold and silver

INDRANIL MUKHERJEE/AFP/Getty Images

It's been a while since I've covered the precious metals in an article. They've been range-bound for much of the past year, with few notable sector developments to report.

But I feel compelled to write about them today for two reasons:

  1. The probability of an upwards re-pricing of the precious metals is rising, and
  2. Both gold & silver are quite over-sold right now, technically-speaking.

With technical and fundamental indicators flashing green simultaneously like this, now is an advantageous time to consider increasing your PM exposure (I did so myself yesterday).

The Human Factor

Before I go into further detail on the current conditions of the PM market, here's a recent personal experience that underscores how few people have any real familiarity with gold & silver as an asset class, let alone own any (beyond, perhaps, a bit of jewelry).

A good friend moved and needed help transporting some bullion from his old town to his new one. Most of it was silver, several thousand ounces worth.

That much silver is pretty friggin' heavy.

So we huffed and strained, hauling that load out of one bank vault, into his car, and from there into the vault at his new bank. While we did our best to be as discrete as possible, our sweaty, grunting 2-man production was hard for the bank staff to ignore.

Managers at both banks figured out what was going on, as it was pretty obvious. And both separately asked us out of genuine curiosity, "Is that real silver?".

My friend briefly handed over a 100-oz bar so they could see for themselves, sparking conversations about the merits of owning physical bullion.

It turns out that neither manager had ever held a bar of silver before. This was pretty shocking to me. Even though they know that the safe deposit boxes in their own vaults very likely store some bullion, neither own it personally, nor even come into contact with it. It's just not a part of their world.

Anyways, later on I mentioned this story to another buddy who shared my surprise. "Man, if the bankers aren't familiar with silver and gold, then who the heck is?", he asked. A very good question, I agreed.

But then he jolted me by asking: "So, one of those 100oz bars -- what's it worth, anyways? $150?"

This is an otherwise intelligent, math-competent person. But like most folks, as well as those bank managers, he doesn't own any precious metals and so his knowledge of them is pretty limited. Limited enough to underestimate the price of silver by over 90%.

This reminded me of Mark Dice's videos, which show just how woefully ignorant the average person is when it comes to the value of bullion. In this one, street passersby decline a free gold coin in favor of a Snicker's bar:

Simply put: gold and silver, in the West at least, are underappreciated assets. As Grant Williams famously put it in his excellent synopsis, when it comes to public and institutional sentiment of the precious metals, "Nobody cares."

Which is a big factor why the prices of PMs have languished for the past seven years. And why the flow of bullion has been uni-directional from West to East over that period.

Time To Care

But there are gathering signs that it's now time to start caring again.

Looking at the just techinical side for a moment, both gold and silver have been in a prolonged downtrend for the past two months. They're now at extreme undersold levels.

Both RSI and MACD indicators are signalling that the recent declines have likely been played out at this point:

Gold price chart

Silver price chart

And both metals have now broken below their Bollinger bands (a sign of extreme oversold conditions). Here's gold:

Gold Bollinger Band chart

While a break below the Bollinger bands could indicate that something fundamental has suddenly changed in the PM market to merit a materially lower repricing, there just don't appear to be any credible candidates for that argument. Yes, the dollar has risen over this period; but there are solid reasons that the USD and gold/silver need not always trade inversely to one another. And as we'll get to in a moment, conditions are actually becoming more PM-favorable.

Technically-speaking, it seems much more likely that the current downtrend is long-in-the-tooth and that, as prices dip down to 18-month lows, a recovery is soon due. In fact, we may be seeing the start of such today, the first material up day for the PMs in a while.

Fundamentally-speaking, world events are providing more and more reasons to own gold and silver -- from stratospheric asset bubbles threatening to burst, to a long-overdue return of market volatility, accelerating de-dollarization, slowing global economic growth, increasing credit market risk in both Asia and Europe -- the list goes on and on.

The full set of PM-positive drivers are covered in our recent excellent interview with Ronald Stoerferle summarizing the insights of his exhaustive 230-page annual report titled In Gold We Trust. If you haven't listened to it yet, carve out 49-minutes to do so soon:

To the many reasons Stoerfele gives in support of his conclusion that gold is "dirt cheap" right now, we can add the multiplying macro data points predicting market turmoil and economic recession later this year, as well as the building uncertainty of further rate hikes by the Federal Reserve -- all potential developments that should lead to higher PM prices.

Whether you're amassing bullion for the long term (which we've long recommended) or speculating in the paper markets for the short term (something we don't encourage for the average investor), you want to buy low and sell high. With precious metals trading near 18-month lows and close to the "all-in" production cost for many miners, prices are unlikely to get much lower than this.

Taking Action

So while prices remain at current lows, we recommend considering the following:

  • Creating your core physical precious metals position if you have none. Many PeakProsperity.com readers already have their core positions in place, should an abrupt crisis occur that suddently sends demand for 'safe haven' assets spiking. But if you haven't built yours yet, don't panic. But also don't delay too long in taking action. A good first step is reading our free guide Buying and Storing Gold & Silver, which details the various forms you can purchase bullion in.
  • Setting up an ongoing purchase program. The easiest and most affordable way to build exposure on top of your core position to set up an automatic purchase program that buys a consistent amount of bullion each month at a volume that fits within your budget. The MetalStream service offered by the Hard Asset Alliance is a good example of such a program, through which you can set up automatic purchases of as little as $100 per month.
  • Nibbling into the miners. The stock prices of precious metal mining companies are much more sensitive to the spot price of gold and silver than the actual metals themselves. They can yield fantastic returns during bull markets, as well as widow-making losses in bear ones. And widow-makers they have been for the past seven years. But, for the above-mentioned reasons, that long winter may be thawing. For investors with the constitution and resources to speculate, it's an opportune time to consider adding or increasing exposure to the miners. That said, when doing so, we *strongly* urge to you work with a profession financial advisor with longtime experience with this asset class *as well as* demonstrated expertise with using hedges to protect these high-risk positions to the downside. If you're having difficulty finding an advisor who meets these conditions, consider scheduling a consultation with the firm we endorse (it's completely free).

Remember, right now, nobody still cares about the precious metals. Which is why it's estimated that only 1-3% of US households own any (jewelry aside).

So even if you only hold a few ounces, that's still more than 97-99% of everyone else -- which may make a tremendous difference to your prospects when the world starts caring again.

Elon Musk responded to allegations that he exposed himself to a corporate jet flight attendant by daring his accuser to "describe just one thing, anything at all (scars, tattoos, …) that isn’t known by the public."

"I have a challenge to this liar who claims their friend saw me “exposed” – describe just one thing, anything at all (scars, tattoos, …) that isn’t known by the public. She won’t be able to do so, because it never happened," Musk posted on twitter.

A Business Insider report on Thursday, alleged that a flight attendant for SpaceX's private jet fleet was paid $250,000 in 2018 to settle a sexual misconduct claim against the company's founder and CEO. A friend of the flight attendant signed a declaration accusing the tech billionaire of exposing himself to the attendant, who is also a licensed massage therapist, during an in-flight massage.

According to the declaration, the flight attendant told her friend that Musk asked her to come to his private cabin "for a full body massage" during a flight in late 2016. When she arrived, Musk "was completely naked except for a sheet covering the lower half of his body." The friend also told Insider that Musk propositioned the flight attendant, then "touched her thigh and told her he would buy her a horse."

One day before the Insider story was published, Musk predicted an escalation in political attacks against him after revealing on a podcast that he plans to vote Republican in the next election cycle.

Musk called the sexual misconduct allegations "wild accusations [that] are utterly untrue" and challenged his accuser to verify her claims by describing a certain something “not known by the public" about his private parts.

On the radio program Friday, Glenn Beck and Pat Gray reacted to the incredible "coincidence" of such allegations cropping up just days after the SpaceX CEO announced his intention to vote Republican in the next election cycle — not to mention joining Glenn's longrunning anti-ESG crusade by calling the corporate score system a "scam."

Watch the video clip below to hear more from Glenn:


Can't watch? Download the podcast here or listen to the episode highlights below:


Want more from Glenn Beck?

To enjoy more of Glenn’s masterful storytelling, thought-provoking analysis and uncanny ability to make sense of the chaos, subscribe to BlazeTV — the largest multi-platform network of voices who love America, defend the Constitution and live the American dream.

Anyone paying attention can see that President Biden is in dire straights come 2024, regardless of who his opponent may be. His administration has been workshopping several ideas to try and craft just the right message. One that will cut through all the noise (failures) and put him on a more solid footing should he go head-to-head in a rematch with the former President.

Biden called in the big guns and he wasn't afraid to call in a few favors either. He drew on his stint as VP and called Anita Dunn out of the bullpen and tapped the Center for American Progress Action Fund to try and help pull this one out. After an exhaustive six-month-long study into how President Trump was able to summon the magic of MAGA — they finally feel they have the winning message.

Dunn has gotten sloppy, however, since her days in the Obama administration. We obtained her contemporaneous notes and emails showing how they coined the term "ultra-MAGA," trying to get a little "extra pop" to his rhetoric. The leaked emails also show the evolution of the messaging over that same six-month period.


[The preceding Memo was a parody written by MRA writers Josh Jennings and Jon Boldt – not the Biden administration.]

Almost every week, new incriminating evidence is mined from Hunter’s wild laptop. And the proof is mounting that President Joe Biden is lying about his knowledge of his family’s crooked deal-making. Everyone knows Hunter Biden is a seriously degenerate guy. Anyone who has handled his infamous laptop needs a tetanus shot.

The salacious stuff on the laptop is sad and pathetic for sure, but that stuff is NOT what is most relevant to the United States. Glenn Beck exposes how the laptop is REALLY about Joe Biden, his abuse of power as vice president, and his ongoing denials now as president.

Now that the 2020 election has passed and their man is in office, the mainstream media have suddenly decided to admit Hunter’s laptop is not Russian disinformation after all. No one has done more research into the Biden family corruption than journalist and best-selling author Peter Schweizer. He has researched the depths of Hunter’s laptop and found more than racy photos. “These aren’t HUNTER’S business deals,” Peter says, “they benefit the WHOLE family.” And he has the emails to prove it.

But the mainstream media still insist President Biden is as pure as his thinning white hair in all of this. As Glenn reveals tonight, he is not. But will anyone in the Biden family see jail time? Americans are fed up with two sets of rules – one for regular citizens and one for the ruling elites.

Watch the full episode of "Glenn TV" below:

Want more from Glenn Beck?

To enjoy more of Glenn’s masterful storytelling, thought-provoking analysis and uncanny ability to make sense of the chaos, subscribe to BlazeTV — the largest multi-platform network of voices who love America, defend the Constitution and live the American dream.

Intelligent people know that wokerness plagues society and must be ridiculed and eradicated from conversations. But what happens when people lose their jobs for calling out the absurdity of woke ideology? What happens when corporations and media sources weaponize wokeness?

Here are five videos that will help us better understand a few of the many issues that wokeness inflicts on society and how we can stand against it.

Bye bye, Target. You crossed the line!

In this clip, BlazeTV host Allie Stuckey of "Relatable" explains how Target recently announced the sale of chest binders and "packing underwear" for women. She expresses how children can be negatively impacted by the sale of confusing clothing items for people suffering from gender dysphoria and the importance of loving the body God gave us.

Today, Allie notices that Target's stock experienced a 35-year record drop. Apparel was named as one of the two underperforming departments. Was pushback from critics of gender-affirming apparel the cause? It is hard to tell, but Allie encourages her audience to continue speaking out when corporations cross the line by making harmful products available for sale to the public.

Listen to the podcast here.

Want more from Allie Stuckey?

To enjoy more of Allie’s upbeat and in-depth coverage of culture and politics from a Christian millennial perspective, subscribe to BlazeTV — the largest multi-platform network of voices who love America, defend the Constitution, and live the American dream.

Wokeness can get you fired

In this clip, Stu Burguiere covers a story about a man who challenged Black Lives Matter using nothing but data and was fired.

Here's the story: "I had been at Thomson Reuters for over six years—most recently, leading a team of data scientists applying new machine learning and artificial intelligence algorithms to our legal, tax and news data. We advised any number of divisions inside the company, including Westlaw, an online legal research service used by most every law firm in the country, and the newsroom, which reaches an audience of one billion every day around the globe. I briefed the Chief Technology Officer regularly. My total annual compensation package exceeded $350,000." Read more

"We live in the era of woke religion," says Stu.

Listen to the podcast here.

Want more from Stu?

To enjoy more of Stu's lethal wit, wisdom, and mockery, subscribe to BlazeTV — the largest multi-platform network of voices who love America, defend the Constitution, and live the American dream.

Coca-Cola circumvents Constitution with TERRIFYING mandates on diversity

Glenn Beck loves Coca-Cola. So much so, in fact, that he refuses to drink Pepsi if Coke isn't available. But ... he says the time has come for him to give up his favorite soda. Why? Because Coca-Cola just announced some terrifying new company policies on diversity and equity. It sent out notices to all partnered law firms, demanding a required percentage of diverse attorneys on any legal team working for the corporation. The notice says all legal teams also must report these numbers quarterly and they will lose Coca-Cola's business if they do not comply.

"Equity is not the same thing as equality," Glenn said, adding that equality means we all have an equal chance, while equality means we all have the same outcome.

Glenn explains how mandates like this could affect everybody — even the guy working on the factory line or the truck driver delivering the drinks. Glenn also explains how Coke's new move is nothing less than a circumvention of the Constitution, and he predicts more companies (especially those in support of the Great Reset) will follow with similar policies, too.

Listen to the podcast here.

Want more from Glenn Beck?

To enjoy more of Glenn’s masterful storytelling, thought-provoking analysis, and uncanny ability to make sense of the chaos, subscribe to BlazeTV — the largest multi-platform network of voices who love America, defend the Constitution, and live the American dream.

Coca-Cola takes a 'pause' on woke initiatives after after pressure from the Right

Glenn followed up on a story about Coca-Cola becoming the poster child for how a corporation could shove leftist ideologies onto its consumers. The company suspended advertising on Facebook in a push to censor former President Donald Trump, published a manifesto about racial equity, and demanded all legal teams working for Coke meet certain diversity quotas.

But, after Trump, Sen. Ted Cruz (R-Texas), Sen. Rand Paul (R-Ky.), and many other conservative voices called for a boycott of the company's products, Coca-Cola appeared to shift directions.

Read more on this story here.

Listen to the podcast here.

Want more from Glenn Beck?

To enjoy more of Glenn’s masterful storytelling, thought-provoking analysis, and uncanny ability to make sense of the chaos, subscribe to BlazeTV — the largest multi-platform network of voices who love America, defend the Constitution, and live the American dream.

Calvin Klein's gender blender ruins sex and Mothers' Day

Chad Prather reflected back to the Great Depression era of enticing photographic entertainment, otherwise known as the callow and deprived years of his youth, when a Calvin Klein pictorial of old would have represented something exciting, something to, say, think about at the end of the day. Had he run across this present weird concept at that age, he would have either been disgusted on sight … or possibly really disgusted when his dumb a** put two and two together the next day. Anyway, his point is: Has the whole world gone crazy? Do we really need this? At this inclusive embracing point in our recent history, what in the world makes Calvin Klein feel the need to be the standard-bearer for a lifestyle screamed largely into existence by a very vocal minority?

Listen to the podcast here.

Want more from Chad Prather?

To enjoy more of Chad's comedy, craziness, and common sense, subscribe to BlazeTV — the largest multi-platform network of voices who love America, defend the Constitution, and live the American dream.

Former Disney artist SPEAKS OUT: ‘It’s time to do something’

A former Disney artist, who wishes to remain anonymous, joins Glenn to describe WHY he recently took action against his former employer: ‘I'm tired of watching my country go down the drain. And it's time to do something.’ Today’s woke Disney is not what Walt once imagined, he says, and his recent video release — "It’s A Woke World After All" — exposes Disney’s large stray from its roots ...

Listen to the podcast here.

Want more from Glenn Beck?

To enjoy more of Glenn’s masterful storytelling, thought-provoking analysis, and uncanny ability to make sense of the chaos, subscribe to BlazeTV — the largest multi-platform network of voices who love America, defend the Constitution, and live the American dream.