Monday, December 5, 2011

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Gold Seeker Closing Report: Gold and Silver Fall Over 1%

Posted: 05 Dec 2011 07:19 AM PST

Gold fell $17.60 to $1728.40 by about 8AM EST before it bumped back up to almost unchanged at $1745.30 in the next two hours of trade, but it then fell back off for most of the rest of the day and ended near its late session low of $1717.73 with a loss of 1.41%. Silver rose to as high as $32.981 by midmorning in New York before it also fell back off in late trade and ended near its late session low of $31.84 with a loss of 1.84%.

Eurozone crisis: Germany and France agree rescue package

Posted: 05 Dec 2011 06:19 AM PST

Germany and France have struck a grand bargain that they hope will save the euro, burying their differences over a rigorous new regime to drive down eurozone debt and restore market confidence in the battered single currency.

At talks in Paris viewed as a last chance to prevent the collapse of the currency, triggering a new western recesssion, the German chancellor, Angela Merkel, and the French president, Nicolas Sarkozy, agreed a package of new measures to take to an EU summit on Thursday, where the deal will be contested but probably blessed...

Read

London Gold Market Report

Posted: 05 Dec 2011 05:59 AM PST

Monday 5 December, 09:00 EDT

"Political Volatility" Ahead as Merkel Heads to Paris, Indian Dealers Seeing "Virtually No Demand for Gold" Despite Wedding Season

THE DOLLAR gold price fell to $1731 per ounce by Monday lunchtime – 0.8% below where it ended last week – while stocks and commodities edged higher and US Treasury bond prices fell ahead of a meeting between the leaders of France and Germany in Paris.

"There is likely to be a fair amount of volatility on the political front this week," warns Nic Brown, head of commodities research at Natixis.

"Should sentiment improve further in the market," adds Commerzbank analyst Eugen Weinberg, "it wouldn't be surprising if [the gold price]falls again, but it may also come under pressure if the rest of commodity sector comes under pressure."

The silver price meantime dipped to $32.53 per ounce – still broadly in line with Friday's close – while yields on Italian and Spanish bonds continued to ease.

Italy's "huge public debt…is not Europe's fault," Italian prime minister Mario Monti told a press conference on Sunday.

"It is the fault of Italians."

Monti – who is also reported to be giving up his salary – was unveiling €30 billion of emergency austerity measures, including plans to remove inflation index-linking for many pensions.

Italy's welfare minister Elsa Fornero dissolved into tears when she tried to announce the measures, unable to utter the word 'sacrifice'.

In Paris meantime, French president Nicolas Sarkozy met German chancellor Angela Merkel today to discuss how the 17-member Eurozone might move towards the creation of a fiscal union. Merkel has repeatedly argued that greater fiscal discipline among Eurozone national governments – with a tougher set of budget rules – is the only way to provide a lasting solution to the crisis.

"For several months now, it's Merkel who decides and Sarkozy who follows," Francois Hollande, French Socialist Party presidential candidate, said last week. Fellow Socialist Arnaud Montebourg has described Merkel's policy as "Bismarck-like" – a reference to Germany's chancellor at the time of the Franco-Prussian war of 1870-71 – while Pierre Moscovici, an aide to Hollande, said today that a budgetary union would "erode our national sovereignty".

Front National leader Marine Le Pen – who has called for France to quit the Euro – also said this weekend that France's sovereignty is under threat.

Should agreement on further fiscal integration be reached at this Friday's European Union summit, then "the door should swing open for the [European Central Bank] to become more aggressive" reckons Erik Nielsen, global chief economist at Italian bank UniCredit.

Eurozone national central banks meantime could provide hundreds of billions of Euros to the International Monetary Fund, money that would then be put into a special fund from which to aid distressed European sovereigns, according to a report in German newspaper Die Welt. The US Federal Reserve may also contribute, the newspaper added.

The Netherlands has the most debt-burdened households in the Eurozone, according to a report in the Wall Street Journal. Many Dutch, it reports, took out mortgages worth 125% of their home's value in the years before the global financial crisis – leaving Netherlands households with a debt-to-income ratio of 249.5%. Second on the list is Portugal, the report says, with a ratio of 128.6%.

"From a financial stability perspective, we think the mortgage loan-to-value ratios are too high," says Gerbert Hebbink, senior economist at the Dutch National Bank.

"This debt makes the economy much more vulnerable to shocks in the housing market, interest rates and employment."

The number of bullish minus bearish contracts held by noncommercial gold futures and options traders on New York's Comex exchange – the so-called speculative net long – fell for a second week running in the week ended 29 November, dropping 2.5%, according to data published Friday by the Commodity Futures Trading Commission. Over the same period, the Dollar gold price rose 0.5%.

Total open interest meantime – the total number of unsettled contracts from the period – fell 4.7%, its third weekly fall.

"That the gold price has risen against falling open interest on Comex does imply a weaker market, with caution central for now and somewhat transfixed on both positive and negative news flows," said a note from precious metals consultants VM Group this morning.

Over in India – the world's largest source of private gold bullion demand – the Rupee gold price approached all-time highs Monday morning as the Rupee fell against the Dollar.

Despite India being in the middle of the wedding season, "there is virtually no demand for gold" says Prithviraj Kothari, president of the Bombay Bullion Association.

"Demand is very slack," agrees Vasu Acharya director at Parker Bullion in Ahmedabad.
"If you compare it with last year, it is just 20% of the sales."

Ben Traynor
BullionVault

Gold value calculator   |   Buy gold online at live prices

Editor of Gold News, the analysis and investment research site from world-leading gold ownership service BullionVault, Ben Traynor was formerly editor of the Fleet Street Letter, the UK's longest-running investment letter. A Cambridge economics graduate, he is a professional writer and editor with a specialist interest in monetary economics.

(c) BullionVault 2011

Please Note: This article is to inform your thinking, not lead it. Only you can decide the best place for your money, and any decision you make will put your money at risk. Information or data included here may have already been overtaken by events – and must be verified elsewhere – should you choose to act on it.


Silver Ready For Take-Off?

Posted: 05 Dec 2011 05:33 AM PST

After a very turbulent year, silver now looks set to take off again. In this article I will tell you why I think so.

First of all, let's look at the Commitment Of Traders reports. Commercials have yet again reduced their Net Short position in Silver, which is now close to the low of 2003 at the beginning of the Bull Market. Commercials are generally seen as the "smart money", so if they reduce their Net Short Position, they expext price to rise (or at least not drop substantially).

The reason why Commercials are the "Smart Money", is that – unlike the millions of small investors who burn their hands by buying high and selling low – they tend to "Buy" low (reduce short positions as price declines) and "Sell" high (increase short positions as price rises).
This can be seen in the following chart. There seems to be a very high correlation between the Sentiment charts of Sentimentrader.com and the Net Short Positions of Commercials:

The fact that one should "Buy Low" and "Sell High" is the best way to invest can be seen in the following chart.

As Sentiment (or Commercials Net Short Positions) climbes into the orange area, it's time to become cautious. It sure can rise (substantially) higher, but cautiousness is the first step in detecting tops. The second step is to look at perspective. Sentimentrader indicators are overlaid with standard deviation bands that show you how extreme the current reading is compared to its recent history. So if sentiment rises above the red standard deviation band, we know that this is an unsustainable situation, and that sentiment has to reverse (decline) over time.
On the other hand, when sentiment drops below the green standard deviation band, we know that this is also an unsustainable situation, and that sentiment has to reverse (rise) over time.
The red circles on the chart below show that good Exit points occured when sentiment was above the red standard deviation bands.
The green circles on the chart below shows that good Entry points occured when sentiment was below the green standard deviation bands. However, the best entry point of the last 5 years was in 2008. This was a time when both Sentiment and Commercials Net Short positions reached extreme lows. Currently, we are in a similar situation, which could mean that silver is at or at least very close to a bottom, and that it could take off pretty soon…

In fact, when we look at the chart below, we might be in an even BETTER position now than in 2008.
As price declined in 2008, the Accumulation/Distribution index declined as well.
Unlike 2008, the Accumulation/Distribution index has made brand new highs recently, despite the fact that Silver is off about 35% from its all-time high…
Another bullish factor now is that, as price declined, volume declined as well, which was not the case in 2008.

It looks like the massive drop a couple of weeks ago – which took silver down to $26 – was the "perfect" entry point, price wise.
However, in my opinion there are "better" entry points at levels slightly higher than today. Let me explain why.
If you would have bought when silver hit $26, you would have done an AMAZING Job. Congratulations to those who did.
However, if you did, you were catching a falling knife. There was a huge risk that silver would drop even lower, maybe as low as $20, which is about the breakout point of the autumn of 2010.
I personally always look at Risk to Potential Reward. At $26, the risk of Silver dropping another $6.5 was too high for the potential $6.5 I could make. That's a 1-1 ratio, since you can loose just as much in case you are wrong as you can gain in case you are right.
I like better those kind of situations where you get a risk-reward ratio of 2 -3 (you can gain twice or 3 times as much as you can loose), and I don't have to think twice when I get a situation that gives me a Risk-Reward ratio of 5.

Look at 2008. As long as price was below the 50EMA, you shouldn't have bought. The best time to buy in my opinion was early December 2008, when price broke above this 50EMA and both the RSI and MACD broke out above the red resistance lines.
At that point you had a BUY point. You wouldn't have bought at the extreme lows, but taking this 50EMA as a stoploss, would have minimized your losses, while you could have let your profits run. In fact, this 50EMA was at that point at the same level as the horizontal resistance line underneath the lows of 2006 and September 2008. A breakout above that level was extremely important going forward.

We are currently in a similar position, as there is resistance at $34 which acted as support in the first half of 2011.
The 50EMA is now at the same level as this red resistance line, and both the MACD and RSI look set to brake out above their red resistance lines…
Combine that with the severely depressed sentiment in Silver and the low Net Short Positions of Commercials, and we have the ideal cocktail for a nice rally in silver prices…

Silver tends to follow Gold, so we should also look at sentiment in Gold.
Once again, we can see that the Standard Deviation Bands provide good Entry and Exit points. Sentiment in gold is now pretty bearish, and is close to the green standard deviation band.

When we look at the Gold:Silver ratio, we can see that the ratio is now facing strong resistance at the 38.20% Fibonacci Level.
IF the ratio would take out this resistance, it looks headed towards 60, which is the 50% Fibonacci Retracement level.
However, if that were to happen, both the RSI and MACD will most likely make a lower high, causing negative divergence, meaning this "rally" should be "sold" (which means one should BUY silver in favor of Gold in my opinion).
The MACD looks set to roll over, which means the ratio looks ready to drop.

Silver is ready for take-off. The question is, ARE YOU?

If you are interested in similar analyses, trading updates, or if you would like to know how to trade options, make technical and fundamental analyses, please visit www.profitimes.com and feel free to sign up for our services!

Charts above Courtesy Stockcharts.com and Sentimentrader.com


AngloGold Ashanti Ltd.: In An Uncertain Market, Gold Miner May Be A Good Bet

Posted: 05 Dec 2011 05:32 AM PST

By David White:

In the past two weeks we have seen the market plummet last week. Then it soared this week. How can you invest in this kind of market? One way is to bet on gold. The ECB is likely going to lower interest rates again this month. It has been buying sovereign bonds, especially Spanish and Italian ones, to stem the attacks on the various EU member bonds. The EU seems to be positioning itself to do more concerted money printing to stave off the bond attacks. China recently lowered its reserve requirements. The RBA lowered rates last month, and it may do so again this month. Virtually all signs point to higher inflation for the future. The only worry is a market panic due to the EU credit crisis and coming EU recession. That would almost certainly push commodities down, including gold.

The good news for the long term investor


Complete Story »

Don’t Blame The Millionaires

Posted: 05 Dec 2011 05:07 AM PST

One of the principal accomplishments (already) of the "Occupy Wall Street" protest movement is that is has correctly focused our attention on the real enemy: "the top-1%". It is very important that readers remain focused upon that point, because (as usual) the media propaganda machine is not only seeking to twist the facts, but to distort the actual issue itself.

There are two ways in which the media has been distorting this problem. One of these methods is extremely obvious while the other is much more subtle. Beginning with the obvious, we see the media attempting to twist the backlash against the top-1% into a much more muted initiative of "taxing millionaires".

To understand how this dilutes and undermines the process of reversing the most-egregious wealth inequality in all of history, we first must understand the nature of this inequality. In an interview on the BBC news program "Hard Talk", a Wall Street insider in the credit default swap market reveals there is more than $200 trillion in debt saturating the global economy.

Let's put this into perspective. Even with interest rates artificially suppressed for much of the world (most notably the U.S.), annual interest on this debt is somewhere in excess of $10 trillion per year. Given a global economy with a total GDP of close to $60 trillion, this works out to more than one out of every six dollars of global economic activity wasted in paying interest to the bond parasites. It is debt-slavery.

This is such a crippling debt-load that if the global economy was one, single economic entity it would be on the verge of declaring bankruptcy. It has caused some, including Australian economist Steve Keen to call for a "debt jubilee". Readers not familiar with that term may have less trouble understanding my own previous label for that solution: a "bond-burning party".

Keen points out that simply "wiping the slate clean" has been history's one-and-only solution to the serial debt-crises caused every time that bankers acquire too much political/economic power – and then bury the world in debts. This solution becomes more obvious as soon as we identify precisely who are these shadowy bond-parasites.

They are not ordinary people. We are all net-debtors. They are not corporations. Corporations have become huge, net debtors – brainwashed by the banksters into believing that the only way to grow is through piling on more and more debt. They are not sovereign governments. Indeed, our national governments are the largest net debtors on the planet.

The bond-parasites are the top-1%. More specifically, they are the shadowy trillionaires, Oligarchs like the Rothschilds and Rockefellers who are so wealthy they are able to totally conceal their massive wealth-hoards from the rest of the world. Instead, we are regularly subjected to the ludicrous propaganda that mere billionaires like the "Bill Gates" and "Warren Buffets" of the world are the "richest people" on the planet – when they are merely "working class folks" in comparison to the true, idle rich.

In seeking to identify precisely who comprises the "kings" of these bond-parasites, there is no better place to start than with the ground-breaking chronology of Charles Savoie – in a body of research he has titled "The Silver Stealers". Savoie points to an elitist group known as "The Pilgrims", and documents much of the activities (and inter-relationships) among these Oligarchs over the past 200 years.

As Savoie and other banking historians like Darryl Schoon have noted, the key to the stealing of all the wealth of a society by the ultra-wealthy has always been via banking – and the worthless paper currencies they have managed to foist upon the world any and every time that bankers acquire too much power.

LISTEN: Keith Neumeyer of First Majestic Silver

Posted: 05 Dec 2011 04:53 AM PST

Neumeyer sees increasing production and revenue ahead.

From Jim Puplava and Financial Sense:
Keith Neumeyer:  CEO of First Majestic Silver

Jim continues his "Up and Coming Producers" series this week with CEO Keith Neumeyer, who sees increasing production and revenues for First Majestic

Much More @ FinancialSense.com 

How To Trade The Euro

Posted: 05 Dec 2011 04:47 AM PST

By Gold Digger:

The euro has strengthened somewhat since last week as German and French leaders meet almost every other day in a bid to take over other the euro area nations through swift financial moves. We are seeing that European nations in a bid to fulfill their extravagant life style are now slowly moving towards a goal for which we had two world wars and loss of millions of lives. However, this new war is bloodless and is allowing few dominant nations to take over the functioning of governments of other weaker nations in the European region. What remains to be seen is that how incentives of the politicians of those weaker nations are aligned so that they hand over the power to a German and French duopoly without even taking into consideration the will of people from respective countries.

Though the euro will not survive even when only German and French


Complete Story »

LISTEN: Lorne Waldman of Silvercorp

Posted: 05 Dec 2011 04:47 AM PST

Silvercorp moves past the false allegations and sees a bright future.

From Jim Puplava and Financial Sense:
Lorne Waldman:  Looking Ahead

Jim welcomes Lorne Waldman of Silvercorp to assess the company outlook. Lorne sees growing silver production and revenues, and a growing dividend as well.

Much More @ FinancialSense.com 

Senate Passes Bill Allowing for Indefinite Detention of U.S. Citizens Without Trial or Attorney

Posted: 05 Dec 2011 03:50 AM PST

Those who would give up essential liberty to purchase a little temporary safety deserve neither liberty nor safety. - Benjamin Franklin

This is the most Draconian, Orwellian, anti-Constitutional piece of legislation since the Patriot Act. The Senate on Thursday passed the Defense Authorization Act that includes provisions to allow for the indefinite detention of [...]

Bank of America: “Buy Gold!”

Posted: 05 Dec 2011 03:47 AM PST

by Brittany Stepniak, WealthWire.com:

Listen up, investors: "BUY GOLD," says Bank of America.

In a research note, Bank of America told clients that they should buy gold versus the euro as the ECB resorts to quantitative easing to combat the euro zone debt debacle.

Judging recent gold patterns, it sounds like they're making the correct assumption…

From Goldcore:
Gold is trading at USD 1,740.10, EUR 1,295.90, GBP 1,114.30, CHF 1,604.5, JPY 135,900 and AUD 1,700.4 per ounce.

Gold's London AM fix this morning was USD 1,744, GBP 1,114.88, and EUR 1,296.08 per ounce.

Friday's AM fix was USD 1,751.00, GBP 1,116.50, and EUR 1,298.29 per ounce.

By mid-week last week, gold had some of the largest single day gains in all of November. As a new month begins, that trend in gold price is expected to contine as investors appear to remain optimistic about solutions in Europe. Those solutions will need "aggressive monetary policy," which is good for gold. Therefore, a majority of gold investors are feeling quite bullish right now.

Read More @ WealthWire.com

Watch Out For Gold Miners ETF Income And Capital Gains Distributions In December

Posted: 05 Dec 2011 03:15 AM PST

By Michael Murphy:

The Market Vectors Gold Miners Exchange-Traded Fund (GDX) and the Market Vectors Junior Gold Miners Exchange-Traded Fund (GDXJ) each will pay a capital gains and income distribution on December 23. ETFs, like any registered investment company, are required to pay their shareholders 90% of their realized capital gains and net investment income each year in order to maintain their tax-free status.

Each of these funds tries to minimize capital gains. Because they are exchange-traded funds, shareholders do not normally redeem shares in order to cash out. Rather, the sell their shares to someone else who wants to hold the ETF. So the funds are not forced by redemptions to sell their underlying securities and realize capital gains and losses, as open-end funds with net redemptions may be forced to do.

Van Eck Securities, the investment adviser to these ETFs, expects GDX to pay an income dividend of 9.5 cents per


Complete Story »

Videos of Gold Commercials Banned from TV Networks in U.S.

Posted: 05 Dec 2011 02:41 AM PST

Two television spots developed by a national investment firm specializing in U.S. gold and silver coins have been rejected by major television networks, including the Fox News Channel and the Fox Business Network, for apparently political reasons.

The ads by Phoenix-based Swiss America Trading Corp., a WND advertiser, feature President Obama and Federal Reserve [...]

Clive Maund: Silver Market Update – 12.5.11

Posted: 05 Dec 2011 02:04 AM PST

From Clive Maund:

With Europe teetering on the verge of collapse, the world has been teetering on the verge of a deflationary implosion, and it still is. That is the reason for the recent severe downdraft in the markets. What is believed to be happening now is that the global banking elites, who ARE the de facto government in many countries, like the US, are scrambling to prevent the collapse of their European division. The stakes are immense – if they succeed they "will kick the can down the road" and push all or much of the banks' bad debts off onto the electorate and taxpayers via austerity measures, bailouts and tax hikes and the course will be set for a hyperinflationary depression, if they fail then we will see the more immediately dramatic and much feared deflationary implosion.

As we will see Smart Money appears to be betting on the banks succeeding in their objectives. Why shouldn't they? – as noted above they are the de facto world government and thus their will should prevail. If Germany and Mrs Merkel, fearing hyperinflation, try to stand in their way, force will be brought to bear – a few more failed bond auctions ought to do the trick. With regards to the banks' power it is interesting to note that Goldman Sachs has more power in the US than the entire US electorate, until the latter become mobilized that is.

The sudden realization that the global banks are about to come riding to Europe's rescue is what caused the strong rally across world markets last week, and although the markets look set to take a breather, it looks likely that they will continue higher as the bailout process gains traction. Other aspects of this fundamental situation that are equally applicable to silver are discussed at some length in the parallel Gold Market update and we will now turn to examining the latest silver charts.

Superficially silver still looks pretty sick on the charts and weak compared to gold. However, the more closely you look at it, the more bullish the picture becomes. In the last update we had identified a potential Head-and-Shoulders top in silver on its 18-month chart, which would – and still could – become operative if Europe founders and the deflationary scenario prevails. However, the events of last week are evidence that a rescue is in its early stages, and that large scale money creation is on the way in order to faciliate this. This being so the potential H&S top looks set to abort, and there are some important indications that Smart Money has positioned itself for this.

CLICK IMAGE TO ENLARGE

On the 3-year chart for silver we can see the potential Head-and-Shoulders top, but we can also see that volume indicators are strong, relative to price, particularly the Accum-Distrib line which rather incredibly has been making new highs just over the past week or two, which is strongly bullish indication. A breakout from the momentum downtrend shown by the MACD indicator will be a sign that a major new uptend is getting started. The position of the silver price relative to its 200-day moving average gives us insight regarding its upside potential from here – it has gone from being way above its 200-day moving average late in April to being some way below this average now – so clearly there is room for a big move up from here.

CLICK IMAGE TO ENLARGE

On its 6-month chart we can see that the silver price is currently being contained within the boundaries of an irregular triangular pattern that parallels the more symmetrical one that has formed in gold during the same period. Contact with the upper Triangle boundary and the falling 50-day moving average in November resulted in the price being forced lower again, and also resulted in a failed breakout attempt from the Triangle on Thursday and Friday of last week. However, the Triangle is now rapidly closing up so a breakout MUST occur soon, and while the rather bearish action late last week does suggest a short-term minor reaction, a decisive upside breakout is expected to occur soon, even if it is preceded by a false downside break. In addition to the positive volume indicators, especially the Accum-Distrib line, another factor pointing to the probability of an upside breakout is the fact that the price and 50-day moving average are now quite some way below the still rising 200-day moving average, which was not the case early in November when the price got turned back down.

CLICK IMAGE TO ENLARGE

With Commercial short positions and Large and Small Spec long positions having dropped back towards their recent extremely low levels over the past couple of weeks, the COT structure certainly looks highly favorable for a major uptrend to get underway soon. When these extremely low levels persist for weeks but the price doesn't advance it is easy to get skeptical about their implications, we have ourselves. We should not allow ourselves to fall into this trap – by the standards of recent years these readings are very bullish indeed.

Conclusion: We are believed to be at a very good entry point for silver and silver related investments here, especially if we see a short-term dip, as a major uptrend is expected to get underway soon.

Read more @ CliveMaund.com

WATCH: Rejected Gold Commercials

Posted: 05 Dec 2011 02:03 AM PST

by Jerome R. Corsi, SwissAmerica.com:

Two television spots developed by a national investment firm specializing in U.S. gold and silver coins have been rejected by major television networks, including the Fox News Channel and the Fox Business Network, for apparently political reasons.

The ads by Phoenix-based Swiss America Trading Corp., a WND advertiser, feature President Obama and Federal Reserve Chairman Ben Bernanke as animated characters engaging in the potentially inflationary policy of printing paper money with abandon to stimulate the struggling economy.

Singer Pat Boone, a spokesman for Swiss America for more than 15 years, appears in the commercials as an animated announcer who concludes that investing in gold is a prudent strategy to diversify a portfolio in inflationary times.

Read More @ SwissAmerica.com

Part One

Part Two

~TVR

Is Quantitative Easing 3 Coming in U.S.?

Posted: 05 Dec 2011 02:01 AM PST

by James E. Miller, Mises.ca:

Within the past few months, many financial commentators and pundits have speculated that the Federal Reserve could soon announce a renewed push at "quantitative easing."  These prediction usually go hand in hand whenever there is an upcoming Federal Open Market Committee meeting.  With the Fed and other central banks announcing a new push to lower the cost of dollar swaps amongst themselves last Wednesday some, such as Gavyn Davies recently at the Financial Times, have contemplated that this maneuver itself is QE3 as it is unlikely for Bernanke (actually William Dudley who heads the New York branch of the Federal Reserve System) to sterilize these purchases and not expand the central bank's balance sheet.

While it may be true that the dollar floodgates have been opened just a bit wider, it's irrelevant to call this new policy QE3.  When Bernanke made it clear last August that he plans to keep short term interest rates near zero for the next two years, he insured that quantitative easing will continue indefinitely.  In order to maintain these anorexic interest rates, Bernanke and Dudley have to enter the market to suppress rates by purchasing bonds.  Investor Brandon Smith explains:

Read More @ Mises.ca

Indian precious metal sales fall

Posted: 05 Dec 2011 02:00 AM PST

A sharp drop in the value of the rupee against the US dollar in early November helped to moderate Indian demand for gold and silver during the tailend of the Diwali festival of light, according to new ...

2012 Top Trades of BOA - Buy Gold Versus Euro; Iran Warns of Oil at $250

Posted: 05 Dec 2011 01:42 AM PST

Swiss Americas pro-gold commercials rejected by major TV networks

Posted: 05 Dec 2011 01:20 AM PST

Gold and US Official Debt Instruments Held by Central Banks

Posted: 05 Dec 2011 01:16 AM PST

Silver Market Update

Posted: 05 Dec 2011 12:51 AM PST

With Europe teetering on the verge of collapse, the world has been teetering on the verge of a deflationary implosion, and it still is. That is the reason for the recent severe downdraft in the markets. What is believed to be happening now is that the global banking elites, who ARE the de facto government in many countries, like the US, are scrambling to prevent the collapse of their European division.

South Korea raises gold reserves amid global fears

Posted: 05 Dec 2011 12:48 AM PST

Silver Forecast: Silver To Follow Gold And Double Its 1980 High At Least

Posted: 05 Dec 2011 12:47 AM PST

It is well established that there is a high correlation between how the price of gold and silver trades. Thanks to this relationship between gold and silver, one is able to use historical trading data of the one good, in order to project what may happen to the price of the other.

Buy Gold Versus Euro

Posted: 05 Dec 2011 12:43 AM PST

2012 Top Trades of BOA – Buy Gold Versus Euro; Iran Warns of Oil at $250

from GoldCore:

Gold is trading at USD 1,740.10, EUR 1,295.90, GBP 1,114.30, CHF 1,604.5, JPY 135,900 and AUD 1,700.4 per ounce.

Gold's London AM fix this morning was USD 1,744, GBP 1,114.88, and EUR 1,296.08 per ounce.

Friday's AM fix was USD 1,751.00, GBP 1,116.50, and EUR 1,298.29 per ounce.

At the open in Asia, gold spiked from $1,746.75/oz to $1,755/oz before being capped at that level and falling back to its opening price. It remained near the $1745/oz mark overnight and this morning in Europe until soon after the London AM Fix ($1,744/oz) when selling commenced again.

Traders may be hesitant to place positions ahead of the Franco-German summit and there may also be some profit taking after the nearly 4% gains seen last week.

Read More @ GoldCore.com

Gold-Hating Economists

Posted: 05 Dec 2011 12:41 AM PST

Blind Men's Bluff: FED-Defending, Gold-Hating Economists

by Gary North, LewRockwell.com:

Higher education in the United States was transformed by Rockefeller money, beginning in 1902: the General Education Board. The GEB made grants to colleges only if they hired Ph.D-holding graduates of a handful of universities, which alone granted the Ph.D. This way, the universities could indirectly take over the rest of the colleges, which were mostly church-related. The strategy worked.

Rockefeller's academic empire included the University of Chicago, which he founded. From the turn of the 20th century, the University of Chicago's department of economics repudiated the use of gold in monetary affairs.

Milton Friedman earned his Nobel Prize for a book researched mainly by his co-author, Anna J. Schwartz: A Monetary History of the United States (1963). Born in 1915, she still works full time. In the Wikipedia entry for her, we read:

Read More @ LewRockwell.com

WATCH: Another Financial Meltdown Looms

Posted: 05 Dec 2011 12:39 AM PST

Another Financial Meltdown Looms

~TVR

Is the World Spinning Out of Control?

Posted: 05 Dec 2011 12:38 AM PST

by Greg Hunter's USAWatchdog.com:

More Europe bailout news. Last week, the world was elated with news that the Federal Reserve and five other central banks got together to prop up Eurozone banks drowning on sour sovereign debt, but the crisis is far from over.  The latest scheme is for countries to trade sovereignty over their budgets in return for more bailout money.  The Sunday Times is reporting the ECB is putting together €1 trillion that will be used for a "colossal" intervention in European bond markets.  The paper goes on to say, "The cash injection will only be carried out if leaders can agree on handing over more fiscal control to the EU and for strict controls to be imposed on nations struggling to control their debts."  (Click here for more.)  Ann Barnhardt, an outspoken commodities brokerage owner who shot to notoriety because she closed her doors in the wake of the MF Global bankruptcy, says it will take much more than €1 trillion.  Barnhardt thinks the MF Global implosion and coordinated action by central banks is an early sign of systemic failure approaching.  In an interview last week, she said, "Europe is done.  Europe is mathematically impossible.  It cannot be saved.  You even want to make a start at trying to bail out Europe, we're talking $25 trillion JUST TO START…we're in excess of $100 trillion to bail out Europe." (Click here for the entire interview from Barnhardt.)

Read More @ USAWatchdog.com

Utah man wants to pay taxes with silver

Posted: 05 Dec 2011 12:38 AM PST

Households hold $950bn gold in India

Posted: 05 Dec 2011 12:35 AM PST

Inflation Tsunami & The Island Of Safety

Posted: 05 Dec 2011 12:34 AM PST

from King World News:

With continued chaos and extreme volatility in global markets, the Godfather of newsletter writers, Richard Russell, is warning his subscribers in his latest commentary, "The world's major central banks launched a joint action to provide chief emergency US dollar loans to banks in Europe and elsewhere. In a desperate effort to raise stocks, the central banks of the world coordinated by forcing more money into the world system. The obvious result was a surge in stock prices with the Dow rising almost 500 points. This is exciting for now but it will result in inflation within 6 months to a year."

Read More Continue reading @ KingWorldNews.com

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