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THE OUTLOOK FOR GOLD AND SILVER

Jeffrey Nichols Managing Director of American Precious Metals Advisors Speech presented to the SPC Precious Metal Company Seminar Bangkok, Thailand What a pleasure it is to be here today in this beautiful city to talk about one of my favorite subjects:The Outlook for Gold and Silver.I am honored by the S.P.C. Precious Metal Company and the Thailand Stock Exchange for sponsoring this seminar . . . and by all of you for taking time out of your busy schedules to hear my thoughts on these metals. So, let me begin with gold: I believe, before long, we will see gold hit $1500 an ounce -- ...

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GOLD: Summer Consolidatation — Bull Market Alive and Well

Gold prices have fallen sharply in recent weeks from their all-time high over $1265 on June 21st in New York.  By mid-July, gold was briefly below $1180 -- a drop of some seven percent. Faint-hearted gold investors need to remember that bull markets never move straight up.  When they do, it's called a "bubble" . . . and bubbles do burst. Instead, this market is moving up -- and will continue to move up -- in a stepwise pattern with occasional high volatility and big corrections on the road to much, much higher prices in the months and years to come. For the most part, this summer's ...

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Gold and the Double Dip

Many business economists and financial journalists are again talking about a "double dip" or renewed downturn in U.S. business activity.  As our clients and readers of this website know, we've long held the view that the U.S. economy would sink back into recession or, at best, a long period of sluggish growth insufficient to produce any meaningful gains in employment. Longer term, we see years of "stagflation" for the United States and European economies -- with sub-par economic growth, unacceptably high unemployment, and a troubling rise in inflation led by higher prices for many ...

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Blackhawk Partners: Jeff Nichols Joins Special Advisory Team

I have been appointed to the Special Advisory Team at Blackhawk Partners, Inc. Blackhawk Partners, Inc., headed by Ziad Abdelnour, is a New York based multi-private "family office" engaged in physical commodities trading, private equity investments, and advisory services to a number of the world's wealthiest individuals and families. Blackhawk Partners trades and supplies a wide range of commodities and financial instruments to industrial and financial consumers globally, with supplies often originating from Blackhawk's own natural resource assets. As a merchant bank, Blackhawk serves ...

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ASIA TRIP REPORT: Positive Signals for Gold

I'm just back from nearly three weeks in Beijing, Shanghai, Hong Kong, Singapore, Malaysia, and Vietnam where I met with gold dealers, brokers, bankers, analysts, and leading gold-industry officials. Take-Home Message -- Very Positive The take-home message is very positive for gold:  Virtually everyone I asked expects gold consumption across the region -- both jewelry and investment -- to continue rising for years to come. And, there was also strong agreement that China's central bank, the People's Bank of China (the PBOC) would continue its own buying program well into the decade if not ...

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Why I’m Pessimistic on the Economy . . . and Optimistic on Gold

The following rather lengthy post is the full text of my June 9th speech, unabridged and unedited, to the Mines and Money Conference in Beijing, China: To begin with my conclusions, I believe we will continue to see gold generate lofty returns for years to come.  By year-end, I expect we will see gold hit $1500 an ounce -- and sometime in the next few years $2000 seems very likely . . . with $3000 or higher quite possible.  And, in my mind, these are quite conservative forecasts. At the crux of my bullish outlook is this:  History demonstrates time and again that excessive government ...

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Top Seven Bull Points for Gold

Just a few months ago, most analysts and market participants disagreed with our forecast that the U.S. dollar gold price would hit new highs by mid-year. And, until recently, most analysts and market participants also doubted our prediction that gold would hit $1500 an ounce by the end of 2010 . . . and that prices of $2000 and even $3000 were likely in the next few years. Now, with economic uncertainties on the rise, many who earlier disputed our bullish forecasts are now jumping on the bandwagon. Here, in brief, are the "Top Seven" reasons we see much higher gold prices ahead: #1 ...

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GOLD & SILVER: Speech to the ResourceOne Conference, New York

Those of you who know me know that I am quite optimistic about the outlook for gold and silver.  This may be good news for those of us in the mining business or invested in precious metals assets. Unfortunately, to be bullish on gold means that I'm pessimistic about the U.S. economy, particularly the outlook for inflation and economic growth, over the next few years.  More about this in a few minutes . . . Price Projections But first, at the risk of sounding like a gold bug -- which I'm definitely not -- let me give you some numbers:  I believe we will see gold back near its ...

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WHERE NEXT FOR GOLD?

From its recent low under $1090 an ounce on March 24th, gold has recovered some lost ground, trading above $1120 and testing the $1130 level in early April.  From a somewhat longer perspective, gold has risen roughly 30 percent from its price of $870 an ounce exactly 12 months earlier -- but the metal still remains well below its all-time high of $1227 reached in early December 2009. This nascent gold-price recovery reflects, most of all, an apparent resolution to Greece's sovereign debt, bringing with it a stronger European currency, a weaker U.S. dollar and a bounce in the ...

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GOLD — LOOKS LIKE A STEAL!

Despite reports to the contrary, gold looks like a steal.  Even if we see further price weakness in the days and weeks ahead, we stand by our forecast that gold will again hit its record high of $1,227 an ounce by midyear and will reach $1,500 by year-end 2010.  We do, however, also expect continued volatility with big swings in both directions around an upward trend this year and beyond. For one thing, we think the best of the economic news is now behind us, certainly with regard to U.S. inflation rates, consumer spending, and industrial production, is now behind us -- and that indicators ...