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- Missouri politicians aim to simplify use of gold as money
- Investors dumped equities, will they now turn to gold and silver?
- How “Nano Gold” Could Revolutionize Biotech
- Physical Bullion Demand Giving “No Support”, S&P Downgrades Spanish Banks, French and German Politicians “Moving to the Right”
- Billion Dollar Problems Haunting American Tower
- ATP Could Hit A Gold Mine With New Ashkelon Gas Well
- Thoughts From The Frontline: A Gold Standard?
- If The Euro Crashes Gold will shoot up by to $2000/oz
- Critical Factors that will Impact Silver
- Chris Duane talks with SGT
- Funds Cut Positions in Gold By 4% and Silver By 20% - Gold Positions at 3 Year Low
- Indian gold prices testing new highs
- Gold Positions at 3 Year Low
- Canada Introduces Plastic Cash
- What’s Really Behind Utah’s Mock Earthquake Drill
- India Falters? Global Depression On Tap?
- Bartering with Gold – the Day after Tomorrow
- Gold Bulls Long Term Trendline - The Indispensable Chart
- A plea for sanity
- Morning Outlook from the Trade Desk 04/30/12
- Funds Cut Positions in Gold by 4% & Silver by 20%
- PM Outlook Hinges on Inflation Hedge Demand, Dollar
- Gold caught in range as Europe heads to a ‘suicide'
- Asian gold near 2-week high on dollar, US GDP data
- Gallup: America's Favorite Long-Term Investment Is Gold
- China's Zhongjin Gold to issue 600 million yuan in bills
- Another bump in the road for European fiscal union
- The fight over Gold has only two possible outcomes
- Gold & Silver Market Morning, April 30 2012
- Why the Dollar is Critical for the S&P 500 this Week
| Missouri politicians aim to simplify use of gold as money Posted: 30 Apr 2012 03:52 AM PDT
from goldmoney.com: Missouri is the latest US state that is trying to follow Utah's example by allowing physical gold and silver to be used as legal tender. According to the Constitution, gold and silver coins – such as the American Gold and Silver Eagle – should be accepted as legal tender in all of the US, but of course this has long since ceased to apply in practice. But now some members of the Missouri House of Representatives are working on simplifying the payment process with precious metals, and are hoping to introduce special gold and silver accounts for all monetary transactions done in the state. This plan is similar to a law passed in Utah, which allows citizens to use a bank card "backed" by physical gold and silver. Such moves could presage similar moves in other states, given the increasing opposition to the Federal Reserve's easy money policies. Keep on reading @ goldmoney.com |
| Investors dumped equities, will they now turn to gold and silver? Posted: 30 Apr 2012 03:49 AM PDT
from news.goldseek.com: Global investors pulled the most out of stock funds in April since at least 1996 when records began. Equity funds posted net redemptions of $18.6 billion through to April 25th, according to data from EPFR Global. The shift out of equities has been a long-term trend since the global financial crisis of 2008, despite the subsequent rally that took stocks above pre-crash levels. Mutual funds that buy US stocks suffered withdrawals of $121 billion in the year to end of March, reported Morningstar, while bond funds recieved $191 billion over the same period. Bonds up The question doubtless to be posed today at the Dubai Multicommodities Centre's Precious Metals Conference is whether something is about to happen to restore investor enthusiasm for gold and silver as an investment class. However, the consensus view at the moment is that near term declines in stock markets are likely, with the election of socialist French president one obvious catalyst. And when money comes out of stocks it generally flows into bonds and that strengthens the dollar and weakens the value of precious metals that are in anycase likely to be sold off to meet margin calls. Keep on reading @ news.goldseek.com |
| How “Nano Gold” Could Revolutionize Biotech Posted: 30 Apr 2012 03:46 AM PDT
from moneymorning.com: I was touched that so many of you wrote in to share your own stories about watching a loved one battle cancer, or having been through it yourself. No doubt it's a terrible disease. That's why today I want to talk about another cancer breakthrough that epitomizes this new era. It's found in gold. As it turns out, gold is a natural-born killer of unhealthy human cells. It has distinct properties that make it ideal for linking medical science with the new field of nanotech. I believe the yellow metal will play a vital role in the Era of Radical Change, in which human beings routinely live healthy, productive lives well into our hundreds. And gold's growing use in both biotech and nanotech will greatly expand our chances to score big stock gains, too. A new kind of gold rush has started. And not only can you make money from it – it could also save the human race from the most deadly diseases. I predict that by the end of this decade, gold will be used as a lethal weapon in the battle against a wide range of killer tumors. It has to do with so-called gold nanoparticles. Keep on reading @ moneymorning.com |
| Posted: 30 Apr 2012 03:45 AM PDT
Physical Bullion Demand Giving "No Support", S&P Downgrades Spanish Banks, French and German Politicians "Moving to the Right" SPOT MARKET gold bullion prices held above $1660 an ounce during Monday's morning trading London – holding on to gains from last week of 1.1% – while stock markets ticked lower, commodities were broadly flat and US and German government bonds gained as Spain continued to generate headlines. "On the physical front [however] things were looking not as one might have hoped for [last week]", says a note from Swiss bullion refiner MKS. "There's no support from the physical market," one Hong Kong dealer told newswire Reuters this morning. Prices for silver bullion fell this morning to $31.10 per ounce – 0.6% down on Friday's close. Gold bullion prices in Euros meantime hit their highest level in almost two weeks this morning, touching €40,474 per kilo (€1259 per ounce) as the Dollar made up some lost ground against the Euro. Earlier on Monday, the US Dollar Index – which measures the Dollar's strength against a basket of six other currencies – fell to its lowest level in almost a month, continuing last week's slide. The Dollar's slide was compounded on Friday after preliminary gross domestic product data showed the US economy had slowed by more than expected in the first quarter of 2012, leading to speculation that the Federal Reserve might embark on a third round of quantitative easing. "We don't know whether there will be QE3," the Hong Kong dealer said. "If the economic performance continues to be good, then there will be a diminishing prospect for QE." "In the short run, you can have one or two weeks for the market to get excited about QE," adds Dominic Schnider, Singapore-based head of commodity research at UBS Wealth management. "If you look for QE, we are going to have a situation where prices will trend higher." The Spanish government is in talks to set up a "bad bank" scheme, which would see troublesome property loans taken of banks' books and transferred to new asset management companies, the Financial Times reports. Spanish GDP meantime fell by 0.3% in the first quarter of the year, according to official data published Monday. This is less than the 0.4% forecast by the Bank of Spain last week. The government in Madrid forecasts that Spain's economy will contract by 1.7% in 2012, before growing 0.2% next year. The government has set a deficit-to-GDP target of 5.3% for this year, and 3% for 2013. By contrast, ratings agency Standard & Poor's – which last week downgraded Spain's sovereign rating from A to BBB+ – said last week it expects negative growth both this year and next, with the deficit-to-GDP ratio hitting 6.2% this year and 4.8% next. "It's likely [Spain's government will] have to create more fiscal tightening," says Citi economist Guillaume Menuet. "That's going to be counterproductive." S&P followed the sovereign downgrade on Monday by taking negative rating actions on 16 Spanish banks. Several banks had their debt ratings cut, among them Santander, while others were placed on CreditWatch negative, a move which often precedes a downgrade. Despite the downgrades, Spanish 10-Year bond yields remained below 6% this morning, a level they breached for the first time in the Euro era last July, and above which they have traded at several points over the last month. In France meantime, incumbent president Nicolas Sarkozy has closed the gap on his Socialist Party opponent Francois Hollande, according to a poll published Monday. The Ipsos poll, for which voters were surveyed on Friday and Saturday, shows Sarkozy still lags Hollande, with only 47% of the vote ahead of this Sunday's runoff. "Sarkozy has moved further to the right," says the Wall Street Journal, "repeatedly underlining his strong line on immigration and a pledge to strengthen France's borders in an attempt to pick up the first round share of almost 18% achieved by Front National's Marine Le Pen." "Austerity alone won't help cut debt," Hollande told his supporters at a rally yesterday. "The head of the [European Central Bank] can also see [this]. They are starting to hear what we are saying." German chancellor Angela Merkel however said at the weekend "there will be no new negotiations on the fiscal pact", referring to the Fiscal Stability Treaty agreed by 25 of the 27 European Union members, which states they will seek to bring their budgets into balance or surplus, with counter measures being triggered should they miss agreed targets. Over in Greece, where voters are also due to go to the polls this Sunday, the Golden Dawn party – whose leader has been filmed making a fascist salute – may be set to enter parliament for the first time, Bloomberg reports. In New York meantime, the difference between bullish and bearish contracts held by noncommercial gold futures and options traders on the Comex – the so-called speculative net long – fell 5% in the week ended last Tuesday, according to Commodity Futures Trading Commission data published late Friday. Long positions fell by the equivalent of 9.4 tonnes of gold bullion, while at the same time short positions rose by the equivalent of 13.6 tonnes. Ben Traynor 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.
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| Billion Dollar Problems Haunting American Tower Posted: 30 Apr 2012 03:36 AM PDT By Analytic Firepower: American Tower leases cellular tower space to large network operators, primarily Verizon(V) and Sprint (S) and ATT (T) in the United States, as well as Telefonica (TEF) and Millicom (MICC) overseas. While initially quite successful in the US, this success has attracted enormous competition which escalates as AMT loses control over its assets as leases expire. There are four separate issues each of which could have billion dollar or greater impact on American Tower. Issue #1: Loss of Control of Most Valuable US Towers Issue #2: Property Taxes (ad valorem Taxation on higher basis from leasehold transactions) Issue #3: India - Substantial Impairment Charges at Best, Total Write-Off Possible Issue #4: SEC Investigation, Whistleblowers and other pests Issue #1: Leasehold Aggregation Activity As I have discussed in earlier articles, one of the largest threats to AMT is the activity of leasehold aggregators. The goal of the aggregators is to secure Complete Story » |
| ATP Could Hit A Gold Mine With New Ashkelon Gas Well Posted: 30 Apr 2012 03:36 AM PDT By Stock Croc: ATP Oil & Gas (ATPG) is currently involved in drilling an exploratory well 50 kilometers east of the Yam Tethys reserves offshore from Ashkelon, Israel. The company estimates that it will find no less than 2.3 trillion cubic feet of natural gas in the area, which should have remarkable implications for the company's success and the sustainability of its stock. Though, the estimated probability of success is 15%. ATP is serving as Shimshon's operator in the scenario and Shimshon is owned partially by Isramco (ISRL). Isramco recently sold 10% of the license rights to Modiin Energy. ATP Oil & Gas itself has a 40% stake in Shimshon, a company I expect will do very well in the upcoming months, due to this exploratory well currently being dug. This partial ownership, in turn, will have very good consequences for ATP stock. However, this may be the only good news for ATP, Complete Story » |
| Thoughts From The Frontline: A Gold Standard? Posted: 30 Apr 2012 02:58 AM PDT By John Mauldin: There are times, my friends Michael Lewitt and Dr. Lacy Hunt agreed today at lunch, when the study of economics is best informed by a sound knowledge of history. Indeed, Michael's son wants to follow his father into the finance world, and Michael is starting him off in history. I have spent hours listening to Lacy stroll through economic history, detailing the path of economic thought from Fisher to Kindleberger to Minsky. The last few days have been one of those times when I realized how much I don't know and how much more there is to learn. Not only Lacy and Michael are here in Florida, but a long list of bright minds to learn from. James Rickards, who has recently written the tour de force book Currency Wars, Harry Dent, Doug Casey, Porter Stansberry, Greg Weldon, and John Williams of Shadow Stats, with whom I look forward to Complete Story » |
| If The Euro Crashes Gold will shoot up by to $2000/oz Posted: 30 Apr 2012 02:36 AM PDT Bob Chapman - The Power Hour - 30 Apr 2012 , if they phase out the Euro Gold... [[ This is a content summary only. Visit my blog http://www.bobchapman.blogspot.com for the full Story ]] This posting includes an audio/video/photo media file: Download Now |
| Critical Factors that will Impact Silver Posted: 30 Apr 2012 02:21 AM PDT
from silverseek.com: The fundamentals for silver today are even better than they were last year when its price and sentiment were higher. Nevertheless, consumer affinity for precious metals has turned rather pessimistic presently. This may be indicated by those who see a rise in the COMEX silver inventories as well as a drop-off in Silver Eagle purchases. Furthermore, our favorite so-called precious metals analysts (more like Bears in a Bull's skin) have come out of the woodwork to rub it in that the "GOLD BULL MARKET IS NOW OVER." For instance, one of these so-called bullion specialists never seems to put in a good word for gold when the price is heading higher. However, when the tide has turned, there is no shortage of negative rhetoric in this analyst's articles. Another interesting member in this camp of so-called precious metals analysts believes gold stocks are a GOOD BUY at prices 30-50% less than where they are currently – isn't that nice? I gather this analyst doesn't play much golf with CEO's of gold mining companies. Some believe that when things are down, it's nice to have friends to lift up one's spirits. I say, with precious metals friends like this… who needs enemas? Yes, enemas. And lastly, if you can't get enough bearish information and data from their articles, some of these fine so-called precious metals analysts offer a subscription service to fill the void. For a fee you will be able to tap in to more detailed information on just how LOUSY gold and silver really are as investments. With the formalities now aside, we can focus on critical factors that will impact silver in the future. Before we discuss these factors, let's take a look at some interesting information that took place in the silver industry in 2011. Keep on reading @ silverseek.com |
| Posted: 30 Apr 2012 02:19 AM PDT Chris Duane is back for an in-depth conversation about precious metals and the world we live in. We discuss Fulford's Ninjas, David Wilcock, the lawsuit and other stuff – but essentially we agree on this: The only entity coming to save humanity, is an awakened and enlightened humanity – in other words, we need to save ourselves. from sgtbull07: Part Two: Chris' website: http://dont-tread-on.me/ ~TVR |
| Funds Cut Positions in Gold By 4% and Silver By 20% - Gold Positions at 3 Year Low Posted: 30 Apr 2012 01:41 AM PDT gold.ie |
| Indian gold prices testing new highs Posted: 30 Apr 2012 01:33 AM PDT
from mineweb.com: For the first time ever, gold appears to be nudging the $570.77 (Rs 30,000) per ten gram mark in India, driven by consistent investment and speculative demand in the country. Gold prices have surged all of last week to touch a new peak at the bullion market, with prices edging past the crucial $562 per ten gram mark on Saturday. Because of the premium paid for gold on Indian markets this price level, equivalent to around $1773/oz, is higher than that quoted on Western markets. Keep on reading @ mineweb.com |
| Posted: 30 Apr 2012 01:32 AM PDT Funds Cut Positions in Gold By 4% and Silver By 20% – Gold Positions at 3 Year Low
from goldcore.com: Gold's London AM fix this morning was USD 1,662.50, EUR 1,256.61, and GBP 1,021.44 per ounce. Friday's AM fix was USD 1,654.00, EUR 1,250.28 and GBP 1,019.60 per ounce. Silver is trading at $31.24/oz, €23.73/oz and £19.29/oz. Platinum is trading at $1,577.75/oz, palladium at $680.30/oz and rhodium at $1,350/oz. Gold rose $4.70 or 0.28% in New York on Friday and closed at $1,662.30/oz leading to a 1.24% gain for the week. Gold has traded sideways in Asia and continues the pattern in Europe this morning relatively unchanged from Friday's close and in a range between $1,661/oz and $1,666/oz. Keep on reading @ goldcore.com |
| Canada Introduces Plastic Cash Posted: 30 Apr 2012 01:27 AM PDT Canada Introduces Plastic Cash – Say, How About Trying a Little Gold and Silver?
from thedailybell.com: Canada Introduces New Plastic Currency … Canada may be permanently swapping paper for plastic, providing its recently-released polymer $100 note is well-received. The brand new bill was put into circulation starting Nov. 14, with $50 and $20 bills scheduled for 2012 and $10 and $5 bills slotted to come out in 2013. Polymer currencies, first developed in the 1980s in Australia, have helped countries cut back on counterfeit bills. Australia introduced polymer cash in 1988. A transparent maple leaf and a clear portion on the left side of the bill with holographs that change color in the light are designed to foil counterfeiters attempting to create fake notes. – ABC News Dominant Social Theme: Cash evolves like everything else. Eventually we'll get rid of it. In the meantime we'll make it look as much like a credit card as possible. Free-Market Analysis: Used to be that money was at least in part gold and silver, circulating as gold and silver or as bank notes that represented gold and silver. At the height of the free-banking monetary experiment in the US, both before and after the Civil War, money circulated freely and paper money connected to gold and silver backing was printed locally by banks, restaurants, hotels and other places where gold and silver could be stored. Much such circulating paper money was only good locally, where the merchant had a good and known reputation. Interest rates fluctuated widely region-to-region. This meant if one area was in a slump, you could go somewhere else to find a job. It wasn't so hard. People in the US went west to find work when the East turned inhospitable. But in the grip of an icy power elite, the world continues to converge. Globalism is key and every part of the international scene is to be "interlinked." If there is a depression in Japan, Mexico shall feel it and Canada and the US, too. How this makes things better is not easy for us to comprehend. The idea of the 21st century is that government, and government printing presses, shall finally triumph over messy private markets. Keep on reading @ thedailybell.com |
| What’s Really Behind Utah’s Mock Earthquake Drill Posted: 30 Apr 2012 01:24 AM PDT
from beaconequity.com: Hot on the heals of House Bill 157, which legalizes the use of silver and gold bullion as currency, the state of Utah recently completed a joint mock emergency exercise between the state's 400 national guard personnel and 48 guardsmen from the neighboring state of Wyoming. The mock drill is a first of its kind since Utah Governor Gary Herbert declared the first week of April as 'Earthquake Awareness Week' for the state's 2.8 million residents in 2010. Sign-up for my 100% FREE Alerts "Earthquake expert, Bob Kerry, says Utah has a one-in-four chance for a 7.0 quake in the next 50 years," Utah's ABC4 News stated as the lead into the reporting of Utah's first mock emergency drill. However, an earthquake of that magnitude hasn't hit Utah since the 17th century, according to state records. In fact, since 1811, the only earthquakes registered in the U.S. greater than Richter Scale 7.0 occurred multiple times in Alaska, California, and a couple of times in Missouri. The conclusion: earthquakes in Utah, of any significance, are very rare. In addition, the auspicious timing of Governor Herbert's 'Earthquake Awareness Week' annual events raises an additional red flag that points to well-intentioned deception. Following the fall of Lehman Brother and plunge in global stock markets, discussions of imminent financial Armageddon became widespread in the media and public discourse, not just talk among a fringe few. Well-known financial experts suggested the risk of a U.S. dollar collapse had increased markedly, including the implications of civil unrest, possibly leading to civil war. Keep on reading @ beaconequity.com |
| India Falters? Global Depression On Tap? Posted: 30 Apr 2012 01:23 AM PDT
from thedailybell.com: truggling coalition leaves Indian economy in the doldrums … Foreign investors are rejecting India in favour of rivals … As India's once 'miraculous growth' story took a dark twist – Standard & Poors downgraded its outlook to 'negative' while Moody's blamed the ruling Gandhi family for the political paralysis behind faltering growth – the country's Met Office offered one silver lining. It ruled out the possibility that the monsoon rains would fail … According to S&P and Moody's, the root cause of the disappointing performance lies in the country's government. S&P said last week that India's rating could deteriorate further if "the external position continues to deteriorate, growth prospects diminish or progress on fiscal reforms remains slow in a weakened political setting." – UK Telegraph Dominant Social Theme: These glitches happen from time-to-time, but the Indian economy, run by a public central bank responsible to the people, is solid. Free-Market Analysis: There is a big argument in the Western world, and especially in the US and Britain over the issue of public versus private monopoly-fiat (central banking) money. In this article excerpted above we can see that one of the top countries where the central bank is putatively controlled by the government (India) this argument is faltering. Public ownership of central banking is no panacea. This is not fashionable right now. The idea among those who are so-called "greenbackers" is that if government can only mandate its "own" money then the "people" will ensure that nothing can go horribly wrong.' But we have argued that the best money is free-market, competitive money, not monopoly-fiat paper money, no matter whether the government prints it outright or whether it is printed via mercantilism. Within this context, we believe gold and silver would find a place, as these money metals have done so for millennia. Keep on reading @ thedailybell.com |
| Bartering with Gold – the Day after Tomorrow Posted: 30 Apr 2012 01:14 AM PDT Gold prices started the final trading day of April with minor losses in New York and were seen headed for a net loss for the month (based on the PM Fix) on the order of 1.75%. |
| Gold Bulls Long Term Trendline - The Indispensable Chart Posted: 30 Apr 2012 01:06 AM PDT Jesse's Café |
| Posted: 30 Apr 2012 12:36 AM PDT A plea for sanity 2012-APR-25 An article by Professor Lew Spellman has caught the attention of the sharp-eyed, and may indeed be important. Spellman, who in the past has been an economist at the Fed and served as an assistant to the Chairman of the President's Council of Advisors, makes the point that gold is quietly becoming a core banking asset for collateral purposes, at a time when the alternative, sovereign obligations, is becoming dangerously unstable as a bedrock of value. This is an establishment economist suggesting that gold is being chosen by markets as an alternative to money issued by government diktat. He even suggests that ownership of gold would allow banks to increase leverage of their balance sheets. The London Bullion Market has been lobbying for this for the last six months, and at government level the Chinese have long pressed for gold to have a monetary role on a supra-national basis. Powerful forces recognise the benefits, and if the Basel Committee which is considering the matter agrees to banks using gold as Tier 1 Capital, it would create substantial demand for physical bullion, for any such gold would have to be physically held on an allocated basis. Anyone who understands gold's historic role will grasp the importance of the argument behind extra bank leverage. Direct ownership of bullion by a bank is superior to holding the fiat money issued by a central bank. It should increase confidence in any bank and the system as a whole. Given relative values, bank purchases of bullion will drive the value of gold as Tier 1 Capital up relative to other qualifying assets, increasing its desirability for regulatory purposes further without a gold-owning bank doing anything. The fly in the ointment is politics. Ever since the Nixon shock in 1971, the US Government has tried to convince the world that gold has no monetary role. It would require the US Treasury to accept that gold might be superior to the paper dollar after all. No doubt that U-turn can be performed, but the concern would be that gold being officially recognised as a form of money would disadvantage the dollar and hand substantial power to the Chinese, who have been accumulating gold from their own mines. This raises the question about how much gold the Chinese actually own. They have been mining the stuff for over a thousand years, and if Marco Polo is to be believed, seven hundred years ago there were enormous quantities of gold throughout both the Chinese Empire and Japan. This is certainly under-recorded by the World Gold Council, and while it and subsequent production may be tucked away, it won't have been destroyed. It is a fair bet that some of it is still in China, under the control of the government, the ultimate inheritors of the dynastic legacies. Why does this matter? It matters because if gold is accepted as the ultimate collateral, the balance of monetary power shifts from the US to China. China is already angling to conduct Asian trade settlements without using the dollar, and is ready to start using gold for settling her trade balance with Iran. This is an important development, the predictable result of US attempts to dictate terms of trade. China is ready to use gold for monetary purposes, as is much of Asia and the Middle East. Europe is falling apart and needs gold as collateral for its banking system. Central banks everywhere, from Mexico to the Ukraine, are adding to their gold reserves, and according to the IMF in March alone twelve of them added 58 tonnes to their reserves, presumably in anticipation of its monetary return. The official price of $42.22 is an old joke that no longer amuses. How about it, Mr President? Tags: buy gold, China, dollar, fiat currency, gold bullion, gold standard, US Treasuries Author: Alasdair Macleod http://www.goldmoney.com/gold-resear...or-sanity.html |
| Morning Outlook from the Trade Desk 04/30/12 Posted: 30 Apr 2012 12:19 AM PDT Metals settled into a slightly higher paradigm. Euro didn't sell off on Spains downgrade and the shorts covered last week. Market needs more juice to break through $1,670 and must hold $1,650. Ho hum, sounds like a range. |
| Funds Cut Positions in Gold by 4% & Silver by 20% Posted: 29 Apr 2012 11:24 PM PDT Gold has traded sideways in Asia and continues the pattern in Europe this morning relatively unchanged from Friday's close and in a range between $1,661/oz. and $1,666/oz. |
| PM Outlook Hinges on Inflation Hedge Demand, Dollar Posted: 29 Apr 2012 10:36 PM PDT Traders look to a busy week of US data releases to continue shaping QE3 expectations, with soft readings likely to reinforce bets on another round of stimulus while upside surprises will force a reconsideration. |
| Gold caught in range as Europe heads to a ‘suicide' Posted: 29 Apr 2012 10:24 PM PDT
from mineweb.com: POT MARKET prices to buy gold remained steady around $1650 an ounce during Friday morning's London trading – well within their range from mid-March – as stock markets and commodity prices were also flat and US Treasury bonds gained following a credit ratings downgrade for Spain. Keep on reading @ mineweb.com |
| Asian gold near 2-week high on dollar, US GDP data Posted: 29 Apr 2012 10:20 PM PDT
from business-standard.com: Gold held near a 2-week high on Monday on prospects of more safe haven buying, with the dollar under pressure from weaker-than-expected US economic data and speculation the Federal Reserve could ease policy further to boost growth. Although the slowdown may not be bad enough to prompt the Fed to launch a third round of bond buying, or quantitative easing, expectations for such a move plus fears about the debt crisis in Europe could offer gold much-needed impetus to break free from the current range. Money managers in gold futures and options had slashed net long positions in the week ended April 24 for a third decline in four weeks, after gold failed to break out of a narrow range. "In the short run, you can have one or two weeks for the market to get excited about QE. It's fair enough. I am still going to call for a lower gold price," said Dominic Schnider, head of commodity research at UBS Wealth Management in Singapore. "The target is still $1,520. But that really goes in line with the view the economy is on a better footing. If there's no need for QE, then our call will be spot on. But if you look for QE, we are going to have a situation where prices will trend higher." The US economy, the world's largest, expanded at a 2.2% annual rate in the first three months of the year, below economists' expectations of a 2.5% pace, raising the prospect of further stimulus from the Fed. Gold rallied to its highest level in 2012 around $1,790 in late February after the Fed at the time said it would keep interest rates near zero until at least the end of 2014. Keep on reading @ business-standard.com |
| Gallup: America's Favorite Long-Term Investment Is Gold Posted: 29 Apr 2012 10:09 PM PDT
from moneynews.com: Americans feel gold is the safest long-term investment out there, a Gallup survey finds. Gold beat out four other types of investments perceived as the best long-term choice out there, with 28 percent choosing it today. Real estate followed in second place, with 20 percent seeing it as the best long-term investment. Savings accounts and CDs tied with stocks/mutual funds at 19 percent. "Investing in gold has gained in popularity in recent years as low interest rates have made traditional savings instruments less attractive, and instability in the stock and real estate markets has undermined the mass appeal of those options," Gallup reports. "Meanwhile, the rising trajectory of the price of gold over the past several years apparently offers more of the returns and stability investors seek." Gold prices are currently trading over $1,660 an ounce, down from peaking around $1,924 an ounce in late 2011 but well above $300 an ounce from just over a decade ago. Weak gross domestic product growth figures and a sluggish jobs market are fueling talk the Federal Reserve will stimulate the economy in a way to encourage investment and hiring that weakens the dollar as a side effect. Such a policy, officially known as quantitative easing but dubbed by critics as printing money out of thin air, would send gold's price rising. Read more: Gallup: America's Favorite Long-Term Investment Is Gold Keep on reading @ moneynews.com |
| China's Zhongjin Gold to issue 600 million yuan in bills Posted: 29 Apr 2012 10:08 PM PDT
from bullionstreet.com: Coupon rate will be determined in the process of book-building and the bills be issued at face value. Both value date and payment due date is May 4 and the to-be-issued bills tradable on May 7. BEIJING(BullionStreet): China's largest publicly-traded gold miner by market share, Zhongjin Gold announced plans to issue 600 million yaun worth of 365-day unsecured bills on the interbank market on May 3, sources reported. Coupon rate will be determined in the process of book-building and the bills be issued at face value. Both value date and payment due date is May 4 and the to-be-issued bills tradable on May 7. China Lianhe Credit Rating Co Ltd has rated the issuer AAA and A-1, respectively. Bank of Communications has been hired as book-runner and lead underwriter for the offering, and Huaxia Bank Co Ltdwill be joint lead underwriter. Zhongjin Gold has reported a net profit of 412 million yaun for the first quarter, 24.67% more than in the same period of last year. The company's operating revenue s Keep on reading @ bullionstreet.com |
| Another bump in the road for European fiscal union Posted: 29 Apr 2012 10:00 PM PDT Gold and silver had a good finish to the end of last week, with the gold price settling at $1,664 - comfortably above selling resistance that has capped the price at $1,650 in recent weeks. It ... |
| The fight over Gold has only two possible outcomes Posted: 29 Apr 2012 09:30 PM PDT |
| Gold & Silver Market Morning, April 30 2012 Posted: 29 Apr 2012 09:00 PM PDT |
| Why the Dollar is Critical for the S&P 500 this Week Posted: 29 Apr 2012 08:52 PM PDT If the US dollar pushes down below the recent lows and we get continuation to the downside, we will break the recent bullish pattern. However, if the dollar finds a bottom and rallies it clearly would create a headwind. |
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