The next panic is about to begin… 'The beginning of the end'… Three facts you need to know right now… The next dominoes to fall…

The next panic is about to begin… 'The beginning of the end'… Three facts you need to know right now… The next dominoes to fall…  This isn't a typical Friday Digest. This is the most detailed and timely warning I (Porter) have ever written. I hope you'll take it seriously… I know most of you won't. Later, you'll claim that you didn't see it, or you didn't take the time to read it. But the truth is… you just won't be able to process the facts I outline below. And let me be clear: These are facts. What you'll find below aren't views or opinions. Or the ramblings of some mumbling oracle. I'm not talking about "Kondratieff waves"… or George Soros' aching back. These aren't hunches or guesses. I'm going to show you, in real time, how the entire system of modern, paper-based finance is coming unraveled. It's happening right now. And I believe the panic will start in May. In fact, I believe for decades to come, the summer of 2016 will be recalled as the beginning of the end… a period of grand financial catastrophe. So I hope you'll read carefully. But I'm so afraid you won't.  When I began my career in finance 20 years ago, the world (defined as the G20 – the world's major economies) had about $40 trillion of debt. Today, the global economy has more than $230 trillion worth of debt. These obligations were not funded by patient saving, careful capital investments, a resulting gain to productivity, and increases to real wages and wealth. These credits were created, almost completely, by politicians and central bankers. The world's elite allocated this paper to achieve policy goals. The "invisible hand" of the market didn't distribute it. And it has resulted in massive, mind-blowing excess capacity in nearly every industry that's heavily financed, such as Chinese real estate development, the global automobile industry, U.S. higher education, and of course the oil business, which saw a massive ($500 billion-plus) injection of credit in just the last six years.  What's important to grasp now is that these bubbles are not isolated – they are all connected, enabled, and continued through the coordinated actions of central banks. And these policies have reached their final "end game." The 20-year supercycle of more debt, lower interest rates, and one financial bubble after another has finally reached its climax. How do I know? Because the same policies that for 20-plus years have driven finance-related profits higher have now inverted. Lower interest rates, additional debt, and more manipulation have finally led to lower earnings for the world's biggest companies and banks.  The volatility these policies have caused, the leverage that they created, and the resulting economic uncertainty are now all acting as a tax against prosperity. Every action in economics contains elements of diminishing returns. Economic stimulus is no exception. At some point, additional credit and lower interest rates can no longer propel an economy forward because the resulting overcapacity and overleverage cause more problems than they solve. Growth inevitably slows. Defaults inevitably rise. And… sooner or later… we'll see a panic. I believe that's happening now. Let me show you why.  I've been writing about the relationship between gold and the U.S. long-term Treasury bond since around 2010. Think about these two financial instruments in these terms. On one hand, the U.S. Treasury bond is the monetary "brand" that stands for inflation, easy credit, and manipulation. Its value has increased, almost every year, in an almost linear fashion since the early 1980s. Gold, on the other hand, is an ancient monetary brand. The modern bankers say it's a "barbarous" relic. Gold stands for hard money, sound banking, and market-based interest rates. It is the bane of politicians and bankers.  Since the peak of the last major banking crisis (the 2011 European "PIIGS" affair), gold has gone down 32%. An exchange-traded fund (ETF) that tracks "constant maturity" long-dated U.S. Treasury bonds (TLT) has gone up 13%. Tracked next to each other, the "spread" between the rising value of "banker's money" and the falling value of "real money" has widened significantly, and all in favor of the bankers…  As long as belief in the central bank's ability to manipulate the markets and inflate financial assets remains intact, the value of the U.S. long bonds will rise and the relative value of gold will fall. But… when the turn comes… faith in the dollar will crumble. Faith in central bankers will evaporate. And the relationship between gold and the long bond will completely reverse. Here's that relationship over the last three months…  That's my first reason. The huge move in gold can't be explained unless you realize that the same people who have been manipulating the system for 20 years know the system is crumbling… and they're trying to get out. The huge move in gold is your most obvious sign. But it's not the only one…  Another obvious sign is corporate profits. America's biggest corporations are a good way to judge the health of the global economy. When our best companies can't increase their earnings, we have a problem. For the last 115 years (for as long as we have reliable records), two consecutive quarters of falling U.S. corporate earnings led to a recession 81% of the time, according to investment bank JPMorgan. The only occasions that a recession was avoided were when there was a significant central-bank action to boost monetary stimulus. So how are our corporate profits doing now? The first quarter of this year marks the third consecutive quarter that saw a decline in U.S. corporate profits. And no, the problem isn't only a collapse in energy prices. The Wall Street Journal explains in detail… Based on the 55% of companies in the S&P 500 index that had already reported results Thursday morning, Thomson Reuters expects overall earnings to decline by 6.1% in the first quarter compared with a year earlier. Even excluding energy companies, which are expected to have their worst quarter since oil prices began to plunge in 2014, profits are on pace to fall by 0.5%. Revenues are expected to fall 1.4%.  This decline in sales and profits might have been contained with aggressive central-bank action… but interest rates can't go any lower, not unless you want to start paying people to live in houses (through negative interest rates) and taxing people to use banks. If that happens, there's a good chance of sparking a global run on the banks. That's why I don't think you'll see negative interest rates much longer.  And… there's a little-noticed bit of information about corporate earnings that I hope you'll recognize as being extremely unusual: Corporate revenues have now declined for five straight quarters. That's a longer downturn in corporate sales than during the 2008/2009 crisis. What's different now? The central banks have run out of bullets. They can't push any more money or credit into the system without causing bigger problems than they solve. In summary… the gig is up. The debt burden can't be carried any longer, not without causing overcapacity that destroys corporate profits.  The wealthiest and most experienced investors in the world have long known this day would come. That's why they're expecting a collapse in the paper-money system. They're working on a way to bolster the U.S. banking system with a gold-backed dollar (see the "Metropolitan Plan"). The last month – with gold up big and Treasury bonds down – is a tiny prelude for what's coming. It's a sign… a sign few have noticed…  I first began warning about the likelihood of a severe bear market in May 2014. I focused on the problems (the vast overvaluation) of the junk-bond market. I've been predicting a true catastrophe in the corporate-bond market ever since… and it has gone straight down almost the entire time. (And we've taken advantage of my prediction: All of our distressed-debt recommendations in Stansberry's Credit Opportunities have been profitable so far.) I still believe we're heading into a period of vast credit defaults, what I call "the greatest legal transfer of wealth in history."  Likewise, I've been warning for a long time about the "lions" that I believed would lead to a bear market in stocks and the "deviants" that showed just how bad some of our debt problems had become. I'd like to add three more categories of stocks for you to begin tracking, to see if my fears about a massive bear market and monetary collapse are coming to pass.  I want you to keep your eye on commercial real estate – as tracked by the Vanguard REIT Fund (VNQ)… the automobile industry – as tracked by General Motors (GM)… and the U.S. retail sector – as tracked by the SPDR S&P Retail Fund (XRT). The first two (commercial real estate and cars) are completely at the mercy of the credit markets. If we see a material reduction in the availability of credit, both of these industries will simply roll over… and the destruction will be immense.  OK… but why now? Here's one reason: The price of used cars has begun to decline. Automotive sources indicate they expect used-car prices to decline by 5% or 6% this year – the first declines since 2008. Used-car prices are key to leasing rates and thus to the availability of credit in the sector. The amount of subprime lending that has happened in autos since 2014 means that price declines will be larger than folks expect and that credit losses will be much worse. At some point soon, the gaudy "earnings" that GM has been boasting about will be revealed to have been nothing but stupid lending and leasing to folks who can't afford new cars and trucks.  Likewise, the U.S. consumer has been powering the global economy (thanks to a strong dollar and strong credit growth). Those trends are going to reverse, significantly, as our economy goes into recession. That will hurt the retail sector and, indirectly, commercial real estate, which always gets hammered during recessions and will get hammered doubly hard this time. Think about the amount of empty mall space. It's great that Amazon's (AMZN) earnings are soaring, but what that also means is malls are dying. Sooner or later, all of this empty commercial space will begin to hurt commercial real estate in general. Those malls are going to end up as office complexes and apartments… something nobody has figured out yet.  Over the last five years (during the most recent boom), XRT shares are up 67% (compared to the Dow Jones Industrial Average's 39% gain). That outperformance is purely a function of credit expansion. Commercial real estate, despite the drag of mall space, is up 34% over the last five years. Only GM is down… because despite the massive credit expansion, there's simply far too much global overcapacity for automotive firms to make any genuine profit. These sectors are going to completely fall apart this summer. And you'll know why.  So, what should you do with this information? Should you just go to bed scared tonight, but not change anything in your portfolio? After all, everyone knows you can't time the markets… As I've been telling you (for years), what's happening in our markets right now isn't normal. This isn't just going to be a "correction" or even a regular bear market. What's happening right now is the end of a massive credit expansion and a global experiment in paper money that is unlike anything we've ever seen before. Talking about these events as being an exercise in "market timing" is like folks on the deck of the Titanic talking about global warming. It completely misses the point. There have been periods in history – always after incredible credit inflations – when the markets themselves were destabilized to the point that there was nothing "efficient" about them. It's not that I object to the prices of stocks in the market. It's the global market itself that's broken. And if you don't think negative interest rates are the most "broken" thing you've ever seen in your financial life, you just aren't paying attention.  By the way, it's not just some raving newsletter lunatic in Baltimore who sees a calamity approaching. David Stockman, the former vice chairman of private-equity firm Blackstone Group (BX), sees the same thing in the markets today. So does Carl Icahn, one of the greatest investors of the last 50 years.  So what should you do? Please do something. Don't wait any longer. If you want to see if I'm right, wait until the end of next month. Stocks will be down big. Volatility will be up. And you will have lost a lot of money sitting on your hands. The essence of what you should do is simple: Raise cash, buy gold, establish some short positions, and ease into distressed bonds when they're trading at safe prices. (Warning: The last one isn't easy to do by yourself. Please consult our distressed-debt research inStansberry's Credit Opportunities before you try this at home.) Even if all you do is simply raise cash in your portfolio to 30% or 40%, I'm confident you'll beat the market this year. But… there's no reason you have to lose money at all. What's going to happen is a huge exchange of value… a legal transfer of wealth. And for our subscribers – who know what's happening, why it's happening, and how to profit from the situation – this year should be the best you've ever had as an investor. But you have to take action. And you have to do it right now.

Regards,

Porter Stansberry
Baltimore, Maryland
April 29, 2016

Prepare for the Coming Financial Earthquake- Jim Rickards

We are living in a time of earthquakes that could crush the walls of your portfolio and leave your wealth in ruins.

Tragically, major earthquakes have struck in recent days in Japan and Ecuador, causing death and destruction. We’re concerned about these, but we’re also concerned with financial earthquakes, which are also happening everywhere.

Financial earthquakes are just as dangerous to your wealth as physical earthquakes are to your well-being. Physical earthquakes can have ramifications in capital markets as well.

Let’s survey this new age of earthquakes and help you to find shelter from the ruin and the aftershocks.

On Thursday, April 14, a large magnitude-6.2 earthquake struck Japan on the southern island of Kyushu near Kumamoto City. Fortunately, there was relatively little loss of life. But the city was left without electricity, and extensive damage to buildings and roads was reported.

Then on Saturday, April 16, a much more powerful magnitude-7.0 earthquake struck the same area of Japan around Kumamoto City. Now the loss of life was greater, with at least 32 killed, and over 2,000 were injured. At least 180,000 people lost homes and were seeking shelter. Over 1,000 buildings were badly damaged and over 90 completely destroyed.

With hindsight, scientists could see that the April 14 earthquake was a foreshock and the April 16 earthquake was a major shock. The two earthquakes are an example of how events in complex systems interact in ways that are impossible to predict.

Within hours of the April 16 earthquake in Japan, a massive magnitude-7.8 earthquake struck the northwestern coast of Ecuador. Casualties included over 350 dead, and that toll is expected to rise. At least 370 buildings were totally destroyed, and thousands more damaged.

Ecuador is a relatively poor country, so the global economic fallout is expected to be minimal despite the horrendous suffering of those on the scene.

While the two earthquakes in Japan are clearly connected, scientists do not see any direct connection between the Japanese and Ecuadorian earthquakes. Yet there is no doubt that Japan and Ecuador are part of a single system that produces earthquakes on a continual basis.

Japan and Ecuador are both part of the “Ring of Fire” consisting of 25,000 miles of volcanoes and fault lines that circle the Pacific Ocean. The Ring of Fire stretches from Chile, northeast through the west coasts of North and South America, through Alaska, and then south through Japan, Indonesia and finally New Zealand.

The “Ring of Fire” is a band of volcanoes and fault lines that surrounds the Pacific Ocean. It is a good example of a complex system. Financial markets are also complex systems that exhibit connected behavior with timing that is impossible to predict.

These events may be front-page news, but what does seismology have to do with your portfolio?

Earthquakes and capital markets are both representative of complex dynamic systems. There’s a great deal we can learn about capital markets by studying earthquakes using a complexity theory framework. Complexity theory is one of the tools I use to understand risk and make financial forecasts.

There is a lot scientists know about earthquakes and a lot they don’t know. It is possible to identify fault lines, which enables scientists to locate potential earthquakes. It is also possible to estimate the potential size of future earthquakes based on the extent and nature of the fault lines.

The one thing scientists cannot predict is the exact timing of an earthquake.

They can tell you a big one is coming, and they can tell you where, but they cannot say exactly when. A monster earthquake could happen tomorrow, next year, in five years or even further in the future.

Does this make scientific knowledge of earthquakes useless? After all, investors always say timing is everything when it comes to buying or selling stocks. If you cannot predict the exact timing, what good is the science?

The answer is that you can make good use of what you do know, even if there are factors you do not know. For example, you may not know when an earthquake will strike on a particular fault line. But you do know it’s not a good idea to build a nuclear reactor right on top of one. The earthquake will strike eventually, and the reactor will melt down. It’s foolish to add to the known risks just because the exact timing is unknown.

The same is true in financial markets. We can see a financial meltdown is coming and we know how bad it will be. We do not know the exact timing. Although it would be surprising if we made it three years without the equivalent of a magnitude-9.0 financial earthquake. (If the Lehman Bros. and AIG meltdowns of 2008 were an 8.0 financial earthquake, you can imagine how much worse a 9.0 will be.)

If a financial earthquake worse than anything you’ve seen before is definitely coming, then the timing is irrelevant. Since it could be tomorrow, you need to prepare today with strategies that will either preserve wealth or make money when the “big one” hits.

This limited but powerful knowledge (we know size and likelihood, but not timing) is not the only common feature of seismology and finance. Both types of complex systems cause “contagion” or “spillover” effects. This is where one surprise event causes other shocks, just like dominoes falling or a house of cards collapsing.

The Russian/Long-Term Capital Management panic of August 1998 actually started in Thailand in June 1997. It then spread around the world. The Lehman/AIG panic of September 2008 actually started in the mortgage market in July 2007. Then it spread through Bear Stearns and Fannie Mae before becoming a full-scale panic.

The next global panic may have started already, but we won’t see the full scope of it for a year or more.

Sometimes natural disasters and capital markets interact directly. This is a case of one complex system crashing into another. The most spectacular example of this is the Fukushima disaster in Japan in March 2011.

Fukushima began as an underwater earthquake that morphed into a tsunami. The tsunami then crashed into a nuclear reactor that melted down. The reactor meltdown caused a crash on the Tokyo Stock Exchange and a surge in the value of the yen. The yen spike then triggered a G-7 currency market intervention to weaken the yen in an effort to help the suffering Japanese economy.

The earthquake, tsunami, reactor, stock market and foreign exchange are all examples of complex dynamic systems. Two are natural (earthquakes and tsunamis) and three are man-made (reactor, stock market and foreign exchange), yet they all crashed into each other as if they were just one row of dominoes.

This shows the power of complexity and its ability to shock and surprise investors.

Something similar happened as a result of the recent Japanese earthquakes. We had already alerted readers about the “Shanghai Accord,” a secret plan agreed among central bankers at the G-20 meeting in Shanghai, China, on Feb. 26. One of the main objectives of the Shanghai Accord is a strong Japanese yen.

While the Japanese earthquake had nothing to do with the Shanghai Accord, there was a direct and powerful market connection.

When earthquakes strike, insurance companies need to liquidate assets in order to pay claims. After April 14, Japanese insurance companies began selling overseas assets, converting the proceeds into yen and repatriating the yen in order to pay claims and finance rebuilding. This liquidation and repatriation gave us a new data point to update our Shanghai Accord thesis pointing to a stronger yen.

That thesis is now stronger.

I use a method called inverse probability to make forecasts about events arising in complex systems such as capital markets. Inverse probability is also known as Bayes’ theorem, based on an early 19th-century formula first discovered by Thomas Bayes. The formula looks like this in its mathematical form:

In plain English, this formula says that by updating your initial understanding through unbiased new information, you improve your understanding. I use this method in the CIA and in my financial forecasting.

The left side of the equation is your estimate of the probability of an event happening. New information goes into right-hand side of the equation. If it’s consistent with your estimate, it goes into the numerator (which increases the odds of your expected outcome). If it’s inconsistent, it goes into the denominator (which lowers the odds of your expected outcome).

What are some of the financial fault lines we are monitoring right now? What are the new data points that are going into the Bayes model to update our forecast of a financial meltdown?

Here’s a list of the main fault lines leading to disaster:

• Brazil is undertaking impeachment proceedings to remove President Rousseff from office. Brazil is the ninth-largest economy in the world. It is a major energy exporter and an important member of the BRICS, G-20 and other key multilateral organizations. Uncertainty in Brazil means uncertainty for the entire global economy

• A June 23 referendum in the U.K. is heading toward the U.K. leaving the EU. This will cause shock waves in Europe and may lead to a complete loss of confidence in pounds sterling. Spillover effects include Scotland leaving the U.K. once the U.K. leaves the EU. In that case, Scotland may join the eurozone, which, ironically, could make the euro stronger despite the U.K.’s departure

• On April 15, The New York Times reported that Saudi Arabia threatened to dump hundreds of billions of dollars of U.S. Treasury securities on the market if the U.S. Congress proceeds with a vote to allow 9/11 victims to sue the Kingdom of Saudi Arabia in court. (Right now the Kingdom enjoys certain immunities, which make such lawsuits impossible.) This dumping could cause liquidity to dry up in the Treasury market, with a potential spike in interest rates and investor losses that would make the panic of 2008 look like a picnic.

There’s more, but that’s enough of a list to make the point that confidence in my forecast of a major financial earthquake ahead is getting stronger by the day.

Regards,

Jim Rickards
for The Daily Reckoning

http://dailyreckoning.com/84197-2/

Gold Bullion: “Triple Threat” Could Send Gold Prices Skyrocketing

Buyers Disregard Gold Prices

It can’t be stressed enough: if you want to know where gold prices are going, then pay attention to buyers. Their actions suggest gold bullion prices could soar.

We are seeing a gold rush, but unfortunately it fails to get any recognition.

There are three things you must know: China remains a strong buyer, Indian’s gold demand is astonishing, and mint sales around the world are surging.

To give you some idea about the demand for gold in China, consider this: in March, the country imported 64.1 tonnes of the yellow precious metal from Hong Kong alone. In February, this figure was 42.9 tonnes—this represents an increase of close to 50% month-over-month. (Source: “China’s Gold Imports Jump on Investment Demand as Price Falters,” Bloomberg, April 26, 2016.)

But you must think big picture. In 2015, global gold production was 3,000 tonnes, or 250 tonnes per month. So, in March, assuming output is the same, China imported 25% of all monthly global production.

Here’s something you should also pay attention to: China is the biggest gold producer in the world itself. If it has to import more gold, it should be taken very seriously.

Next, looking at India, it remains a resilient gold buyer despite where gold prices stand. For the 2015/16 fiscal year (ended March 31, 2016), 926 tonnes of gold was imported into the country. (Source: “India’s gold imports drop 16 percent,” Reuters, April 13, 2016.) Again, going back to the 3,000-tonne annual global production figure, India imported one-third of global gold mine production for the year. Impressive.

Something else you should keep in mind: currently, the Indian government is working very hard to curb demand for the yellow precious metal in the country. The government is imposing duties and tariffs, but they haven’t impacted the demand much.

As for mint sales, they continue to amaze me.

Consider this: as of April 27, the U.S. Mint has sold 344,500 ounces of gold in American Eagle coins alone so far in 2016. In the first four months of 2015, the Mint sold 175,500 ounces of gold in American Eagle coins. (Source: “Bullion Sales/Mintage Figures,” U.S. Mint, last accessed April 27, 2016.) Simple math will tell you that gold demand at the U.S. Mint is running 96% higher than the previous year!

I have said this before and I will say it again—it will not be surprising to see gold sales at the U.S. Mint hit one million ounces if buying remains consistent throughout 2016.

Long-Term Gold Prices Outlook

Dear reader, no matter how you look at it, the demand remains solid despite gold prices trading well below their peak in 2011.

I have been bullish on gold prices for some time now. I see the dynamics of the markets are slowly turning as expected. All of a sudden gold is one of the best-performing assets. Not long ago, near the end of 2015, gold was called a “pet rock.”

Here’s my forecast on gold prices for the long-term: in a matter of a few years, we will be looking at $1,250-an-ounce gold and saying, “Man, it was cheap then,” and the mainstream will be preaching how great gold is for your portfolio. Sadly, it will be way too late then.

http://www.profitconfidential.com/gold/gold-bullion-triple-threat-could-send-gold-prices-skyrocketing/

Awesome Mothe'r's Day Gift! Vintage Tri Colored Glass Purple Yellow Clear Sterling Silver Marcasite Ring

Vintage Tri Colored Glass Purple Yellow Clear Sterling Silver Ring with Sparkling Marcasites 
Would Make a Beautiful Mother's Day Gift
Very Good Vintage Condition.
Ring Size is 9.75.
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Available at PGS Coins eBay Store:
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Or PGS Coins Etsy Store:
https://www.etsy.com/listing/289129321/vintage-tri-colored-glass-purple-yellow?ref=shop_home_active_6

As The Price Of Gold Soars, Legend Warns That The World May Now Be Facing Catastrophic Consequences

Today a legend who oversees more than $170 billion warned that the world may now be facing “catastrophic consequences.”

Today legend Rob Arnott, whose firm helps to oversee $170 billion globally, warned the world may be facing “catastrophic consequences.”

Eric King:  “Rob, your firm helps to oversee $170 billion globally.  What has you worried going forward?  What has you concerned?”

Rob Arnott:  “We are overdue for a U.S. equity bear market and if we get a bear market it will have ripple effects across other asset classes.  But the other thing that worries me even more than that is the central banks losing credibility and losing control.

Massive Wealth Expropriation
Let’s suppose that headline inflation, already up to 2.3 percent in the last 6 – 8 months, hits 3 percent in the next 6 or 8 months.  All the sudden the central bank (the Fed) has lost control. The central bank can’t keep interest rates down at zero when inflation is running around 3 percent. That winds up being a massive wealth expropriation from anyone with savings.

The government is intentionally engaging in wealth destruction for the affluent savers.  That’s the essence of negative real interest rates.  But if you are trying to carry zero interest rates in a 3 percent inflation environment, it stimulates all sorts of crazy behavior on behalf of the general public, and it winds up defeating the purpose of low interest rates, which is to stimulate the macroeconomy.

The Hairy 1970s
So, ironically, you could have the Fed’s efforts to stimulate the economy with low interest rates having the unfortunate effect of stimulating hoarding instead of stimulating inflation in the macroeconomy.  And you could have inflation get out of hand anyway so that you wind up with the worst of both worlds — a stagnation in the macroeconomy and outright recession, paired with renewed inflation.  It’s called stagflation.  We had that in the 1970s and it was brutal.  That’s a risk.  It’s certainly possible and if the Fed loses control, watch out.” King World News note:  Off the air Arnott warned me that if the above scenario unfolds it will have “catastrophic consequences.” 

http://kingworldnews.com/legend-warns-that-the-world-may-be-facing-catastrophic-consequences/

Goldman Sachs Stopped Out Of "Short Gold" Recommendation

With the Yen and Yuan surging, it appears money is greatly rotating out of US dollars and into an 'alternative' currency as Gold soars over $1290.

As Gold is bid after the BoJ Shock...

More problematically for Goldman Sachs' Jeff Currie is his "Short Gold" recommendation just got stopped out...

Goldman went short gold on 2/15 at around $1205...

We also maintain our bearish view on gold that has rallied along with the other commodities. Our short gold recommendation (which we opened with a 17% upside, in line with our $1000/toz 12-m forecast) is currently at a c.5% loss, with a stop loss at 7%.

This gold rally was driven by a lack of conviction in divergence in US growth as a weak US dollar has been highly correlated with a higher gold price.

We believe this realignment view of weak global growth is not supported by the US data, which will likely reinforce higher US yields, a stronger US dollar and the return of divergence, particularly should strong US consumer growth dissolve market fears regarding US growth.This in turn will likely put downward pressure on gold prices towards our near-term target of $1100/toz

That just ended... as the 7% loss stopped them out...

Leaving Goldman clients pensive...

http://www.zerohedge.com/news/2016-04-29/goldman-sachs-stopped-out-short-gold-recommendation

Dow Dumps 400 Points From BoJ Shock As Gold Nears $1300

Gold first closed above $1300 on September 29th 2010, 67 months ago; and as investors' faith in Central Banks falters - with The Dow down over 400 points (and Nikkei 225 down 1700 points!) from the scene of Kuroda's Kamikaze decision, gold has soared up above $1299...

NKY and JPY are bearing the brunt for now... (the former under 16,000 and the latter with a 106 handle)

Gold is soaring...

And Stocks are plunging...

As it appears Oil algos ran out of shorts to squeeze...

http://www.zerohedge.com/news/2016-04-29/dow-dumps-400-points-boj-shock-gold-nears-1300