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Why Is Silver Stagnant, and When Will it Start Moving?

By Jeff Clark Senior Analyst, GoldSilver.com

It hasn't been fun for silver investors. Gold has moved higher in response to the crisis, but silver has been nothing but weak and vulnerable this year.

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Is this silver's destiny? Is this all that we can expect for the foreseeable future?

No. History says a big change in the silver price is coming. We'll look at that, but first let's examine why, at this point in the crisis, it's been so lifeless.

Silver at the Onset of Crisis

We've fielded a lot of questions on why silver isn't rising right now, in the midst of the biggest crisis in modern times. And at a time when gold is rising.
But actually, the lag in the silver price is historically normal behavior when these types of crises first strike.

The two biggest effects of the pandemic have been a stock market crash and a hit to economic activity. How has silver performed during these events in the past?

First, here's how both gold and silver prices have performed during the eight biggest stock market crashes before this one. Green means it was a positive return, yellow means it fell but less than the S&P 500, and red means it fell more than stocks.

You can see that gold rose in every instance but two, with one of those declines less than the S&P 500. And we should point out that the 1980-1982 period was right after gold's biggest bull market in recorded history, so the selloff wasn't exactly surprising. Overall, a pretty good track record.?

But for silver it was almost the opposite. Over the past 45 years, it has risen in only two of the biggest stock market crashes (one of which was only 1%), and fallen in all the others. It did fall less than the S&P 500 in five of those instances, but more in two of them.

This data suggests that in the throes of a stock market crash, a decline in the silver price is historically normal behavior, even though it's usually less than the S&P 500.

If we added in the 2020 crash, the bar would be red for silver. Through April 24, silver is down about 15% YTD, while the S&P 500 has fallen 12%.

What about during economic slowdowns? While we haven't officially entered a recession, it's clear one is on the way.

Here's how silver has performed during the past seven recessions in the US, going back 50+ years...

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Jerome Powell, Chairman of the Federal Reserve, appeared recently on 60 minutes. Join Mike Maloney as he uncovers the true meaning of what Powell said, and the implications that will follow. This is a very important video, thanks in advance for sharing it with family and friends.

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How to Deprogram Your Friends & Family from the Cult of Fiat Currency

By Jeff Clark Senior Analyst, GoldSilver.com

Most everyone you know is a member of a cult. It's not their fault, and they didn't consciously seek it out, but your friends and family and almost everyone you know and even come in contact with belong to a system that has brainwashed them.

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This cult is robbing them. And it's doing so clandestinely, without their knowledge or approval. It's so sly that they don't even know it's happening.

In fact, the leaders behind this cult have convinced them that this system is normal. They accept it, since that's the way things are done and the way everyone else does it.

But it continues to rob them. Even as you read this.

In order to escape this cult they must undergo some deprogramming. However, getting debriefed from a cult is not easy, and they may resist and protest and refuse.

But that won't change the fact of what is happening, and their situation will not improve until they accept what is taking place and agree to do things in a different way. And here's the good news: once they understand how they're being robbed, the solution will become apparent to them.

Most of our readership already understands this cult. So I offer the following deprogramming to your friends and family as a way to bring them back to "normal," to help them realize why they can never seem to get ahead, and what they can do about it.

If you could look at the entirety of monetary history in one snapshot, some glaring facts would stick out. You'd see that gold and/or silver have frequently served as monetary standards, even in the United States not that long ago. that fiat currency systems have always eventually failed. and that for the first time in recorded history all monetary systems in the world are fiat based.

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This fully-fiat period in history has never happened before. That means there's no playbook to tell us what could happen, that it's really just an experiment. Living in this unprecedented time in history means that risks to the monetary system are high.

In the meantime, the robbery continues. Because we live in a fiat world-where paper dollars are "money" because the government says they're money-they can be diluted at will. And it only takes a 7th grade education to understand that the more you create of x, the less valuable x becomes.

I'm sure you are aware of all the QE efforts that are underway. When those currency units are first created, they benefit those that receive them first. In other words, the people ahead of you. The longer it takes for those new units to reach you, the less valuable they become. For the most part you are at the end of that line.

This is nothing new. History shows that creating currency has been the most common way to "restructure" debt. Currency dilution is a trick played by central bankers and politicians to devalue debt, since it allows them to repay it in "cheaper" dollars.

You may claim that consumer inflation is low, so what does a little dilution matter?

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?But you're overlooking the fact that even low inflation adds up.

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Silver is on the move, China and the USA are saber-rattling, shutdowns are stifling the economies of the world, the Fed has hired a goldbug - the stories just keep on coming. Join Mike Maloney, Jeff Clark, and Chris Martenson of PeakProsperity.com as they unravel the latest news, in this trial of a new video format for GoldSilver.com. Please let us know if you enjoy this clip - and we will look at making this a weekly event. Thank you as always for making us your bullion dealer.

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Join Mike Maloney as he takes an x-ray machine and a scalpel to the budget books of the US Government. In this Special Report you'll get an in-depth look at why Mike believes the USA has painted itself into a corner without any thought of how to get out. What are the ramifications? As Mike says, we may very well be witnessing the end of the current fiat system. This is a very detailed video, so get comfortable and make sure you watch to the end for the conclusion. If you can understand what Mike is revealing here - you'll be well-placed to make plans for your immediate future. Best of luck.

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The dollar has broken critical support levels, what is the short-to-medium term outlook? Join Mike Maloney, Chris Martenson and moderator Mr Jeff Clark as they discuss some of the biggest news stories this week.

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If there's a crisis will you be able to get any cash out of the bank? Will the banks even have any cash? Because, as of last March, it is no longer a requirement - the banks aren't required to have a single dollar bill.

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On January 23, 2020, our close friend Chris Martenson at Peak Prosperity issued an alert warning people to prepare for a coming pandemic, the likes of which we hadn't seen in generations.

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We now know Chris was right.

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And unfortunately, 99% of Americans ignored Covid-19 until it was too late.

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Now, Chris has issued another warning.?

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A threat not to our health. but our wealth.

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If you look closely, the warning signs are everywhere.?

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The social upheaval. the wealth gap. the dysfunction in government... it's all tied to a greater economic trend that according to Chris most members of the media are just flat out getting wrong. at the worst possible time.

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To find out the truth about what's really happening in the markets, the economy and how Chris is preparing today, read his full piece on the topic.

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How Would Gold Perform In a Second Stock Market Crash?

By Jeff Clark Senior Analyst, GoldSilver.com

1929. the 1970s. 2000. 2008. and now 2020?

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In the biggest stock bear markets over the past nine decades, there was an initial crash. followed by a big bounce. and then a more severe selloff, a "second leg down" if you will.

Could it happen again?

As Mark Twain said, "history doesn't repeat itself but it often rhymes."

And some of the world's most successful hedge fund managers are convinced a second drop is coming.

? Billionaire David Tepper, considered one of the world's most successful hedge fund managers, said last month that "stocks are the most overvalued I've seen in my career."

? Stanley Druckenmiller, whose net worth is $4.7 billion, says "the risk-reward for equities is maybe as bad as I've seen it in my career."?

? So-called bond king Jeffrey Gundlach says, "I'm certainly in the camp that we are not out of the woods. I think a retest of the low is very plausible." He said at the same time that he initiated a short position against the stock market.

? Billionaire Mark Cuban says "the stock market is overvalued. it's almost impossible to predict where consumer and corporate demand is going to come from. And because of that, it's hard to create a valuation for businesses."

With trillions of stimulus flooding the market, I don't know if we're looking over the cliff at another crash in the stock market or not. Even Mike Maloney mentioned that stocks could just as easily melt up as they could melt down.

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But if we do get another leg down, I wanted to know. what happens to gold in the "crash after the crash"?

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If gold and silver prices go parabolic, will Mike sell all of his holdings? How will he decide when to sell, and how much? Jeff Clark asked Mike these questions today, check out the video to see Mike's response.

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Back in January, Mike Maloney joined Grant Williams, Charles Hugh Smith, Chris Martenson and Adam Taggart for an in-depth discussion on the dangerous distortions to financial markets and the global economy that central bank intervention is causing.

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That video, titled WTF: What The Fed?!? was released soon after the US Federal Reserve had added $200 billion dollars to its balance sheet in Q4 2019. At the time, our panel was worried about so much liquidity being added to the system so quickly could recklessly exacerbate the extreme overvaluations in the markets, and further increase the instability of our over-indebted economy.

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Little could we have guessed that a global pandemic would soon ensue, one that has seen the central banks collectively flood the world with an additional $4 trillion so far, with (much) more anticipated to come.?

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Sure makes that $200 billion look pretty tiny now.

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So, if this group of experts was highly concerned about systemic risk before the coronavirus... what are they thinking now?

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Find out today - the all-star panel is back for WTF: What the Fed?! - Round Two.

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"I am getting prepared for a freezing of the global economy, in which case there will be a period of time where credit cards don’t work…they’re going to be scrambling, trying to figure out what to do. Massive currency creation is the only thing they can do and that eventually ends in hyperinflation…” - Mike Maloney

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Gold in Q3: Record Highs, Now Consolidating and Coiling

By Jeff Clark, Senior Analyst, GoldSilver.com

It's time for our quarterly report on gold, something we like to do because it helps investors track the industry, as well as keep us focused on the bigger picture and not daily gyrations.?

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Here's an examination of gold's performance during the third quarter of 2020, along with its year-to-date performance vs. other major assets.?

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I'll also highlight the potential catalysts that show the price is not just consolidating, but coiling.?

Gold made history last quarter, pushing to a new all-time high. With growing Covid-19 cases, continued flood of Fed liquidity, and geopolitical conflicts that never seem to end, gold demand pushed the price into record territory.

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Gold hit $2,066.90 per ounce on August 6, a new record high close, eclipsing the previous record close of $1,904.98 set in August 2011. The gold price then eased off and has since been consolidating.

Gold ended the quarter up 6.7%, but silver took home the prize.

The falling US dollar helped gold and silver advance. But the yellow metal set yet another record: it was gold's eighth straight quarterly gain.

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Silver also had a strong surge into early August, closing at $28.93 on August 6. However, it remains 42% below its all-time high of $50 in 1980, showing the greater opportunity still remains with silver.

Investment demand for gold was still high, and in some segments it surged. We avoid paper gold products, but it's worth pointing out that GLD (SPDR Gold Shares ETF) saw its biggest one-day influx this year on September 21, adding a 1.2 million ounces. On a day gold fell by almost 2%.

You'll see that the 10-year Treasury offered zero return, and a negative return on a real basis.

Gold and silver remain asset leaders for 2020.

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Gold and silver have now entered 'Phase 3' according to Mike Maloney. So what is it that has changed to bring us into this new environment? It is something that Mike has been expecting for some time, and is finally here: monetary demand. And as he hints towards the end of this video, 'You ain't seen nothin' yet'.?

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How undervalued is silver? We all know that something just doesn't add up with the markets, but take a look at the amazing chart that Jeff Clark presents in today's roundtable video and you'll see why Mike Maloney and Chris Martenson were were both blown away.

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"I see that there could be an even greater panic into gold and silver this time around than last time - the world is in a lot more trouble today than it was in 1979".?

Join Mike Maloney for today's update on the metals markets, including new analysis of the Gold/Silver ratio and how to construct your own investing plan for precious metals.

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Where are gold and silver prices heading, and why? Will we see more announcements from pension funds stating that they'll be buying gold? And where are we in the inflation/deflation debate? These are three separate topics that all add up to major shifts in the gold and silver markets. Join Mike Maloney, Chris Martenson and Mr Jeff Clark for their latest analysis.?

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The latest unemployment numbers hit today and have spooked investors worldwide. But as Mike Maloney points out in today's update - it may be even worse than you think.?

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Triple digit silver is not only possible - but highly probable, according to industry titans Mike Maloney and Keith Neumeyer. Join them in Part 2 of their discussion as they add more potential triggers to the list of reasons they believe silver should one day take off like a rocket.?

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You may have heard about ''that time back in 1980 when the Hunt brothers cornered the silver market - that''s why silver went to fifty bucks!'' It''s quite a common story - but it''s just not true. Watch this video from Mike Maloney to get his take on what really happened.

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Gold and Silver Correction Ahead?

By Jeff Clark Senior Analyst, GoldSilver.com

Is a pullback due for gold and silver? They've admittedly had a nice run-as of May 22 gold was up 17.5% from its March low and silver 41.5%-so it wouldn't be too surprising to see them cool off.?

Add to that the seasonally weak summer months are right around the corner and a decline certainly seems possible.

Will seasonal patterns play out this year? If so we just might see a buying opportunity, which could be especially important for those that don't have as much bullion as they want or missed out on earlier opportunities.

The following charts show the average cumulative gain and loss of gold and silver throughout the year. We averaged the daily price movements from 1975, when gold became legal to own again in the US, through last year.?

Here's the average daily price gain/loss for gold over the past 45 years. Notice the green circle.

Other than March and early April, late June and early July are, on average, the only other noticeable price dips during the year. For those years when seasonal trends play out, this would be the last chance to buy gold at a discount.

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Here's the same chart on silver. You'll see the selloff in June is even more pronounced.

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What do you get when you add up a massive exodus from the US dollar, insane monetary and fiscal policy, record COMEX deliveries, and a wave of institutional funds headed towards the precious metals? Join mike Maloney in today's video to find out.

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The Setup For a Long and Deep Crisis is In Place-Here's How I'm Preparing Financially

By Jeff Clark Senior Analyst, GoldSilver.com

It's gotten to the point where reading daily news reports can induce feelings of depression and anxiety. Maybe you have similar reactions when you see a constant barrage of negative headlines. They're everywhere, and seem like they'll never end. If you let it get to you, Covid-19 will turn into a Covid-depression.

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Having a positive frame of mind is important in times like this, but neither do we want to be blindly optimistic. Sticking your head in the proverbial sand might feel good for a while, but it could be financially devastating if you leave it there.

We can't change what's happened, nor can we wish the virus away, but we can decide how we'll deal with it. We can actively choose solutions that will help us weather the pandemic and its fallout, as well as prepare us for its ending, whenever that may be and however it may look.

There is lots of advice on personal strategies, but when it comes to our finances, there are three key things I am doing to get through this and come out the other side not only intact but with a handsome profit.

My strategies may not surprise you, but they're important to me and I share them in case you find them useful. And they all stem from a realization of one thing in particular.

The Attack on Our Purchasing Power

Nothing puts the amount of currency printing and dilution into perspective better than the following chart. It compares the amount of quantitative easing in the US and G20 from the Great Financial Crisis (GFC) in 2008 to now. Notice not just the amounts but the timeframes.

In just three months, as a percent of GDP, both the G20 nations and the United States have already exceeded the amount of QE done over the three full years between 2009 and 2011.?

As you probably know, the amount of QE will continue to rise. It's unlike the GFC when the Fed capped the amounts-this time, they've explicitly stated that QE is unlimited.

And it's not just these easing efforts-it's anything and everything related to our monetary system. Skim through this list and see what you think the ultimate ramifications could be to your currency.

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Gold is crushing fiat currencies all over the world, in fact there is only one major currency in which gold is not trading at all-time highs. Find out how long this situation may last in today's video.

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The Doctor Is In: Why Owning Gold & Silver Can Improve Your Mental Health

By Jeff Clark Senior Analyst, GoldSilver.com

Not many people in the gold community know this about me, but before becoming a gold and mining analyst I worked as a counselor for many years.

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It was rewarding work, as I'm sure those of you in the helping professions might concur. My business did well, so I suppose I was relatively good at it, too.

I attributed my success to one factor in particular over the others. It's a secret I carried throughout my career that more often than not led to a successful outcome.

And that secret, I believe, applies to us gold and silver investors, too. Stay with me for a minute and see if you might view gold similarly.

There are lots of things that contribute to a healthy state of mind, but in my prior field there was one element that, once instilled in my client, I knew we had a great shot of being successful.

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That attribute was hope.

My specialty was vocational rehabilitation. The clients I worked with were permanently disabled, physically or mentally. They had been beaten down, their futures irrevocably altered. You could see it on their faces.

But once we identified something they could do vocationally, hope set in. And that changed everything for them.

It was more than just being optimistic or putting on a brave face. The one thing these clients were really good at they could no longer do-but once they realized they had new opportunities true hope set in. And it made all the difference.

What does this have to do with gold and silver?

In my humble opinion, gold can promote mental health because it gives us financial hope. Because it provides greater overall financial well-being and resilience. Because it can give you hope for a stronger financial future for you and your family.

It's a result of what gold stands for and what it can do.

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David Morgan of TheMorganReport.com shares his feelings as to what the silver price may do next in this information-packed interview with Mike Maloney. Have we reached a tipping point?

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Gold and silver are rocketing upwards. Will there be a pullback? Where will the prices go? Join Mike Maloney and Mr Jeff Clark as they discuss all the recent market action, thank you for watching.

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Join Mike Maloney and Jeff Clark as they discuss Jeff's most recent article, along with the question of whether it is too late to invest in gold and silver.

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"The stockmarkets are absotively, posilutely in a hyper-bubble. The only question is, will they meltdown.or meltup?" Join Mike Maloney for today's look at the extreme valuations being placed on the markets, as measured by Warren Buffet himself.

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Bernie Sanders wants to steal Elon Musk’s beer - but why? Join Mike Maloney as he delves into a recent bill proposed by Sanders, the knock on effects may surprise you.

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Today Mike Maloney recorded a video that he later decided to split into two parts. Viewers have been asking for the past few days for his opinion on the recent social unrest, so Mike added his thoughts as an introduction to his planned video for the day. After recording the video, he thought it would be best to split off the section on gold and silver ETFs into its own video. We hope you enjoy watching these two important videos.

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Here's How High Inflation Could Soar and How Quickly It Could Get There

By Jeff Clark Senior Analyst, GoldSilver.com

With deflation engulfing the world right now, is there really any reason to worry about inflation??

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Yes. As I'll show below, not only has inflation started abruptly many times throughout history, the current actions of the Fed and other central bankers are the very actions that have caused high inflation in the past.

We have some research on inflation that we haven't seen elsewhere, research that can potentially be very useful to all of us in preparing for what is likely ahead.

The Setup

You've undoubtedly heard about the unprecedented level of fiscal and monetary stimulus governments and central bankers have undertaken. The response to the virus has been unprecedented in all of history.

. The US passed a $2.2 trillion aid package, the largest in history. Another bill for $1 trillion is in the works, though now some are saying it's not enough and that an additional $1 trillion is needed.

. Meanwhile, the Fed has cut interest rates twice, and in a dramatic declaration promised "unlimited and open-ended" QE. The government seems to have concluded from this that it now has no constraints on spending-as long as the Fed continues to monetize borrowing by purchasing the debt.

. And of course it's not just in the US. The G20 announced on March 26 it would inject more than $5 trillion into the global economy. Here's a good article that lists the worldwide levels of fiscal and monetary efforts recently taken.

Perhaps the more appropriate question is, how does all of this not lead to inflation?

Deflationists will point to Japan, which not only has history's highest debt-to-GDP ratio, but also the most radical monetary policy-and yet has low to no inflation. Demographics are the likely explanation, as Japan's aging population has put downward pressure on prices for years despite all the printing.

But Japan is the exception, not the rule. And don't forget that governments and central bankers prefer inflation over deflation. In deflation, prices fall, which can lead to lower profits for businesses. higher unemployment. lower wages. and lower consumer spending. And of course inflation reduces the real burden of the government's debt. Governments want inflation.

At a minimum, it seems we should prepare for some level of inflation, perhaps as bad as Mike Maloney outlined in episode 7 of Hidden Secrets of Money.

The History?

Most mainstream investors don't realize that history shows inflation can quickly get out of control, and not just in some mismanaged third-world country. Inflationary shocks have occurred right here in the US. Multiple times.

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Most historical studies on inflation only go back to the 1970s. But as Mike has always taught, the further back you go in history, the more you can learn about the future.

Amity Shlaes, an author with an impressive bio, identified several examples from the past 100 years when US inflation started mildly but then soared to alarming levels. Even more startling is that those inflationary spikes occurred within just two short years.

Check out how much the rate of inflation rose during these periods.

Over the past century, inflation in the US has spiked in dramatic and rapid fashion on three separate occasions.

. Based on an earlier version of the CPI-U, Shlaes says US inflation was at 1% in 1915. Within just two years, it soared to 17%. She reports this runaway rise in prices was because the Treasury "spent like crazy on the war, creating money to pay for it."

. The official inflation rate in 1945 was 2%, but surged to 14% within a mere 24 months, a 7-fold increase.

. The CPI registered 3.2% in 1972, and hit 11% by 1974. Worse, it continued to march higher over the decade, peaking at 14.7% in April 1980, in what amounted to a near 5-fold rise.

What this research tells us is this:

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Imagine you're on a ship that has struck an iceberg, and you know it's going down. You quickly grab the life vests for you and your family. You rush to the deck to go to the lifeboats, but there you encounter some authority.that is actively taking life vests away from one group of people by force, and giving them to another group of people, and leading them to the lifeboats - deciding who will live, and who will die. In this analogy, the ship is the economy, and the authority is the Federal Reserve. This is happening right now. Enjoy today's update from Mike.

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This is the end. In this 'deep dive' presentation Mike Maloney points out how the Fed is now backed into a corner - that there are only two actions they can take, and both lead to the same destination. Stick with this video, it is detailed.but the conclusions are vitally important to understand.

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Pension Funds Join the Gold Party-Things Are About to Get Interesting

By Jeff Clark, Senior Analyst, GoldSilver.com

Today, institutional participation - the enormous Wall St and global wealth management and investment firms and their clients from hedge funds to pension funds - in the gold market is minimal.?

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But with interest rates near zero globally, we're seeing signs that this is changing rapidly.

The latest such news was first brought to our attention by our investor, Gold Bullion International, who services institutions like these: the Ohio Police and Fire Pension fund announced it will allocate 5% of its assets to gold.

This follows on the heels of other institutional investors that bought gold or silver in Q2, but it's the first major pension fund this year to publicly announce it has entered the gold market.

The fund has $15.7 billion in Assets under Management (AUM). While there's no timeline for buying the gold, a 5% allocation equates to over $750 million.

That's roughly 2.5% of ALL the new gold brought into circulation last year for investment. From one fund.

A couple things make this very interesting. First, Ohio is only the 7th most populous state in the US. And this fund is only one of eight similar public pensions in that state alone. There is a ton-literally-of cash from these kinds of entities that could look at entering the gold market.

Second, this is a very traditional "money" manager. For them to enter the gold market indeed signals a shift. Pension funds are typically among the most conservative, long-term oriented investors, and don't jump in and out of positions.

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This public move from a large mainstream fund is likely to spur other institutional investors to consider making an allocation to gold, too.

This is a trend we expect will pick up steam, particularly in a ZIRP (Zero Interest Rate Policy) world. One of the most supportive conditions for gold is a negative "real" interest rate (10-year Treasury rate minus the CPI). When real rates are zero or negative, like they are now, gold has historically performed very well. The Fed and other central bankers have essentially signaled that they don't plan to change this policy anytime soon.

The compelling angle to all this is that most pension funds currently have zero direct exposure to gold. Estimates vary, but we've seen percentages from less than one percent to as high as two percent. That two percent figure looks like this.

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Could the current crisis in the oil markets lead to war? Join Mike Maloney as he presents data that shows the true extent of the massive body blow received by US oil industry. There's also a long segment where Mike answers your questions..and for the first time, an 'Absurdity of the Day'. Enjoy the video.

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The Secret to Understanding Gold's True Value

By Jeff Clark Senior Analyst, GoldSilver.com

There's one question Mike Maloney and I have been asked more than any other. It's a favorite question of interviewers, journalists, and podcasters. It's a fun topic to discuss, and hints at the excitement that could be ahead for gold and silver.

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But the nature of the question can be misleading. It draws the focus away from the true value gold can offer.

The question is this: How high do you think gold and silver prices will go?

It's only natural to wonder where they might ultimately be headed. Especially if you agree with Mike's prognosis for the monetary system.

But gold and silver are less about price, and more about this.

Since gold and silver are money, it's important to view them as such, and not as "investments". Yes, we're convinced we'll make a profit on them, but the deeper purpose lies in their monetary value.

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This is why it's less about their price and more about what they will buy. That's where true value is found.

If you look solely at price, you might miss the full benefits gold and silver offer. You also might sell too soon. or too late. A "high" price might not be high enough, or a "low" price might actually be high.

For example, if gold rises to $5,700, roughly a triple from current levels, but stock markets and real estate rise commensurately and offer no better value to the investor than they do now, is the gold price "high"?

On the other hand, if gold reaches $3,800, roughly a double from current levels, but it buys two or three or ten times more stocks and real estate and consumer goods as it does now, that's actually a better value even though the price is lower.

This is why I don't plan to sell at a pre-determined gold or silver price. Nor some inflation-adjusted price. It's more about what they will buy me-that's what we're trying to protect, after all, our standard of living.

What will they buy us now? And with gold near all-time highs is it perhaps time to exit? Let's look at the two most common investments relative to gold and silver and see where we stand.

One way to participate in the wealth transfer could be to sell our overpriced gold and silver for underpriced stocks. Ratio analysis has its limitations, but with stocks likely headed down and precious metals headed up, this ratio of these two asset classes is likely to get more and more attractive over the next few years for bullion owners.

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Dividing gold and silver prices by the S&P 500 can tell us if the recent spike in metals has made stocks a better buy. On the other hand, if the ratios are still low then gold and silver are the better value.

This chart shows the ratio of gold to the S&P 500 from 1970 through Friday, July 24. The current ratio is highlighted in pink, with prior highs noted as well.

Even though the gold price has risen strongly this year and is near all-time highs, it remains a better value compared to common stocks.?

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You can see just how far the ratio would have to climb before we would consider swapping out gold for stocks-in other words, a combination of rising gold prices and falling stock prices.

Here's the ratio of silver to the S&P 500 (through July 24).

Despite the recent spike in the silver price-it's up 27% YTD-the ratio has registered little visible change. Silver has a long way up and stocks a long way down before this ratio will catch our attention.

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Silver clearly remains the better bargain here. Despite breaking above $20, its upside potential relative to stocks is enormous.

One of the more fun ratios for me is the potential opportunity to buy property with our gold and silver proceeds.?

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Did I hear you say beachfront bungalow?

Here's the historical relationship between the price of the average home in the US and the price of gold since 1975 (house price divided by gold price).

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Here Come the Institutional Investors-How This Shift Could Overwhelm the Gold Industry

By Jeff Clark, Senior Analyst, GoldSilver.com

Editor's Note: It wasn't just Warren Buffett's company buying $565 million worth of Barrick Gold last quarter. That was the big headline, but institutional investors buying gold last quarter was more widespread than just Berkshire Hathaway's purchase. And it's just getting started. The research below shows just how much cash could flood into the gold industry.

It blew up my phone. It was after market hours on Friday, August 14 when the news broke that Berkshire Hathaway's 13F showed it had purchased 20.9 million shares of Barrick Gold, the largest gold miner in the industry.

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It caught many gold investors by surprise, myself included, since Buffet has been so negative on gold-even though he bought a miner one wouldn't do that if they thought gold was headed lower anytime soon.

But as it turned out, the bombardment on my phone about Buffett's Big Buy was just the tip of the golden iceberg; he was not alone. This is significant, because by all appearances the shift into gold (and silver) by institutional investors has only just begun-they don't typically take large positions for just one quarter, but invest in what they believe is a trend.

This demanded some research. Just how big could this shift be? How much cash could realistically enter the gold market from these types of investors? And what might it do to the price?

The results of our research below is compelling-if you're a gold and silver investor. If you're not, or you don't have a meaningful stash, consider what impact the whale of institutional cash might have on the minnow-sized gold market. and if it might be time to pick up some ounces in the next dip.

First, let's review what some institutional investors did last quarter.

Unbeknown to many investors, in addition to Warren Buffett, a plethora of hedge funds entered the gold (and silver) market in the second quarter.

? Ray Dalio's hedge fund Bridgewater Associates poured over $400 million into gold ETFs in Q2. He increased holdings in GLD (SPDR Gold Trust) from $600.6 million to $914.3 million, making it one of the largest investors in the fund and Bridgewater's second-most valuable holding. The company also increased its holding in the iShares Gold Trust from $176 million to $268.4 million, making this investment its sixth biggest stake.

? Hedge funds Mason Capital Partners, Sandell Asset Management, and Caxton Associates all initiated new positions in GLD last quarter.

? The Reserve Bank of India (RBI) announced it plans to increase its gold reserves to 10% of its total reserves, from the current 6.5%. How much is this? The RBI has approximately US $540 billion in cash. 3.5% of that equals $18.9 billion, which equates to 9.45 million ounces. which is 56% of all the gold bought for investment last year.

? Though central bank gold buying this year is probably slower than 2019's banner year, the central banks in Kazakhstan, Turkey, Mongolia, India, Cambodia, Qatar and Russia were all buyers last month.?

? And then there was this big shocker. BlackRock, the world''s largest asset manager ($7.4 trillion AUM), was the second largest buyer of SLV shares in Q2, purchasing 5.4 million shares.

As you can see, it wasn't just Buffett's $565 million purchase of Barrick last quarter. Numerous other hedge funds apparently see what Warren sees: an environment ripe for big profits from gold.

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But there's a bigger impact that Berkshire Hathaway's entrance into the gold market will have: the message it sends to the market.

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Here's Every Gold & Silver Correction in Their Two Biggest Runs, vs. Today

By Jeff Clark, Senior Analyst, GoldSilver.com

If you're familiar with Mike Maloney, you probably know he (and I) actually like it when gold and silver prices correct. It gives us an opportunity to add more ounces at a better price.

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But not every investor likes corrections. For some it's worrisome. Others want to know why the price is falling. Still others wonder if the correction is over and a good time to buy.

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The recent drop in gold and silver brought up these concerns again. So I thought it was time to examine that abrupt selloff and compare it to other corrections during similar periods. By viewing corrections in context, and through the lens of history, I think you'll see that yes indeed, corrections are nothing buy buying opportunities in bull markets.

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Let's look at the two biggest gold and silver bull markets and compare them to today, starting with the granddaddy of them all, the late 1970s.

Most of the gains from the 1970s bull market occurred in the final year. And yet during that runaway surge, there were numerous corrections in a relatively short time frame.

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Here were gold's corrections of greater than 3%, along with the total percentage gain made during that final 13 month-period.

The gold price fell more than 3% a total of 11 times during that final year. That's almost once a month. Two were double-digit declines. All this while the price shot up 274.5%.

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Now check out silver's corrections during the same period, in this case those of 5% or greater.

The silver price corrected 12 times before it reached its all-time high of $50. Three of those declines were double-digits. This much selling while the price was on its way to a 480% gain.