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- A Byproduct Of Twist? Gold Manipulation
- Utilities Sector: Valuations To Tell You Where To Profit Next
- Leverage The Coming Stimulus With These 2 Gold Juniors
- Why Paulson Is Bullish On AngloGold
- How The Euro And Swiss Franc Close Maybe More Important Than Where They Opened
- Buffett and everything else versus gold
- Silver Flirts with $29 Waiting for Headline Week
- PRECIOUS-Gold snaps 6-day winning streak after Greek vote
- Gold reserves decline in Asian central banks
- Gold slips,Silver steadies in India
- Central banks print more money so buy gold and silver
- Chinese Gold & Silver Exchange to launch Silver trading
- The Real ‘Goldilocks Economy’, Part III
- India Gold production dips 31.2% to 119 kg in April
- Gold slips following Greek election
- Gold dips as Greek concerns ease
- Grecian Formula
- Bank Holidays Begin in France? Banque Postal Stops Wires & Cash Transactions Friday
- The Welfare Kings of Europe
- dutch banks downgraded/Holland;s retail sales contract badly/poor usa Empire number/ Poor Michigan consumer confidence number/
- What Is Next For Greece?
- Kyrgyzstan government increasing mining taxes
- The Second Coming of the Market From Hell -- A Good Thing
- Waiting for the other shoe to drop
- The Games Continue – 1630 & 29
- The Greek Elections Hangover
| A Byproduct Of Twist? Gold Manipulation Posted: 18 Jun 2012 06:57 AM PDT  By Gary Tanashian:As Greece took the spotlight last week, there was an auction going on in the US: Treasurys rise after record-setting auction Our great nation sold more bonds (AKA debt) last week to keep itself afloat. Demand was strong. 10 and 30 year bonds were peddled with the Fed on the bid, either in action or in implied waiting. "On Tuesday, the government garnered weak demand at its sale of 3-year notes. That could have been due to expectations for more Twist from the Fed, which may entail selling that maturity. That logic would also have lent support for the 10-year auction, and presumably the long bond sale in the coming session." The indisputable message of this chart is that gold generally goes in alignment with the 30 year/2 year yield spread. What a world; all a great and powerful entity has to do is cannibalize the unproductive legacy debt of Complete Story » |
| Utilities Sector: Valuations To Tell You Where To Profit Next Posted: 18 Jun 2012 06:36 AM PDT By Steven Bauer: This article focuses on the utilities sector of the stock market. It is just one article in a series of sector articles. (Please see the table below). My intent is to share a mini-perspective on how I go about identifying future profitable investments. Profiting conservatively in the stock market is a common goal for all investors. My work is an analytic process that has been successful for both my clients and me for over 50 years. My quest is to identify the companies with the highest prospect of being the profitable, and lowest risk / reward threshold for the coming months. Remember, this stock market has a cycling and ever-changing venue. The same-old companies are no longer repeatedly the leaders, year after year. For me, that means I have to dig deeper to find gold and work harder to secure the consistent profits we all are seeking. Just so you Complete Story » |
| Leverage The Coming Stimulus With These 2 Gold Juniors Posted: 18 Jun 2012 06:25 AM PDT By Doug Meeks: The gold market is very compressed right now. Higher costs, increased geo-political risk and uncertainty about the price of gold (and silver) have taken a massive toll on stock values in the mining sector. The upside is pretty big if European or American stimulus were to show up. Even hints of these QE packages are causing market swings. In the chart below we can see that gold bullion and the gold stocks have diverged in the last several years. A big part of the divergence is steadily increasing costs to replace mined ounces. However, if the price of bullion breaks out of this descending wedge and returns to it's upward trajectory I expect the stocks to return to an upward trajectory as well. I also expect that inflationary actions from the central banks will drive the event. It could be a rapid and profitable move for those willing to take Complete Story » |
| Why Paulson Is Bullish On AngloGold Posted: 18 Jun 2012 06:18 AM PDT By Investment Underground: by Mark Goldstein John Paulson is bullish on AngloGold Ashanti (AU), but should you care? Perhaps, you should, if you too own and run a namesake US$3.5B hedge fund that is almost completely invested in gold. What matters is not Paulson's opinion of the stock and company, but whether AngloGold Ashanti can sustain wins that it reported in the first quarter. Last quarter, the company beat estimates and almost doubled its earnings from a year ago. The company's stock price has performed in step with the rest of the sector, trending alongside other gold miners of comparable market caps. For instance, Gold Fields (GFI), Newmont Mining (NEM), and Barrick Gold (ABX) have all basically took a dip in the past few months, just as AngloGold Ashanti had. Gold miners, in general, are in a good position, since demand for the product is unique. In essence, it's similar to that of Complete Story » |
| How The Euro And Swiss Franc Close Maybe More Important Than Where They Opened Posted: 18 Jun 2012 06:15 AM PDT By Marc Chandler: The euro reached its highest level in four weeks in Asia today, but how it closes the North American session may be more important. At the start of June, the euro and Swiss franc posted key outside up days following the poor U.S. employment data. We recognized it as such here and our confidence grew as follow through action materialized. Our weekly technical outlooks have indicated the upside correction, after the dramatic losses in May, was still underway. Today's price action could be a key downside reversal in the euro and Swiss franc. Recall, this when the price of an instrument makes a new, in this case, high for the move and then sells off, and closes below the previous day's low. The level to be monitoring then is Friday's low in the euro, which Bloomberg has at $1.2592. The level in the dollar against the Swiss franc is at Complete Story » |
| Buffett and everything else versus gold Posted: 18 Jun 2012 05:37 AM PDT |
| Silver Flirts with $29 Waiting for Headline Week Posted: 18 Jun 2012 04:59 AM PDT
from silverinvestingnews.com: Silver flirted with $29 on several occasions this week, but always pulled back to settle below the mark. On Tuesday, silver spot prices closed at $28.97. For silver to break into the upside in the near term, it is widely believed that at least one of two things needs to happen: there must either be significant economic developments or an announcement of considerable monetary easing, preferably from the US Federal Reserve. On Monday, silver spent much of the US trading day above Friday's close, but the metal couldn't adapt to a risk on vibe, ending the day in NY with a five cent gain. Gains were seen again on Tuesday, but by midweek prices were on the way back down. The Spanish bailout is an ideal example of the difference between positive economic developments and significant economic developments. At the beginning of the week, investors were greeted with the news that EU leaders had agreed to a 100 billion euro bailout for Spanish banks. This news was considered positive, and markets rallied a bit, but even as they did there were underlying concerns that this news might actually be an indication of much larger problems ahead for Spain and other Eurozone members. The excitement quickly fizzled and focus returned to the region's web of problems. Getting a distinctly positive global macroeconomic outlook back in place probably requires a series of pro-growth economic readings from key global players, said a CME Group market note. Keep on reading @ silverinvestingnews.com |
| PRECIOUS-Gold snaps 6-day winning streak after Greek vote Posted: 18 Jun 2012 04:47 AM PDT
from in.reuters.com: SINGAPORE, June 18 (Reuters) – Gold fell for the first time in seven sessions on Monday as the risk of a Greek exit from the euro zone subsided after parties backing a bailout for the country won an election, denting the metal's safe-haven appeal.The initial vote results drew expressions of relief from the Group of Seven industrialised economies, who said it was in "all our interests" for Greece to stay in the euro while respecting its international bailout commitments. Increased appetite for riskier assets pushed money out of gold, which fell more than 1 percent to a low of $1,606.49 an ounce. It later recovered to $1,621.60 an ounce by 0629 GMT, still down $6.19. Bullion is more than $200 below a record of around $1,920 struck in September last year. Keep on reading @ in.reuters.com |
| Gold reserves decline in Asian central banks Posted: 18 Jun 2012 04:39 AM PDT
from bullionstreet.com: ONDON(BullionStreet): The Bank for International Settlements (BIS) has stated in its June 2012 Quarterly Review that "central bank balance sheets in emerging Asia expanded rapidly over the past decade because of the unprecedented rise in foreign reserve assets." Reserves rose from $1.1 trillion to $6.4 trillion in 2011. Most of these nations hold a low proportion of gold in their reserves, while they are among the countries with the highest personal gold use, at least when compared with local GDP. This may seem counter-intuitive, but it is a result of history; long-standing industrialised nations were on the gold standard in parts of the 19th and 20th centuries and their central banks are still heavy with the metal while their populations have a variety of outlets for disposable income. At current prices, for example, world official sector gold holdings, based on the figures reported by the IMF (these figures are for end-March, the latest available comprehensive numbers), represent 14% of gold+foreign exchange. Keep on reading @ bullionstreet.com |
| Gold slips,Silver steadies in India Posted: 18 Jun 2012 04:29 AM PDT
from bullionstreet.com: NEW DELHI(BullionStreet): Gold prices in India, world's largest consumer, dropped marginally Monday following global trends and weak domestic demand. On the bullion market here, prices shed by Rs 80 to Rs 30,415 per ten grams while silver remained steadied at Rs 55,000 per kg. On the domestic front, gold of 99.9 and 99.5 per cent purity fell by Rs 75 each to Rs 30,425 and Rs 30,225 per 10 grams, respectively. It had lost Rs 70 on Saturday Keep on reading @ bullionstreet.com |
| Central banks print more money so buy gold and silver Posted: 18 Jun 2012 04:20 AM PDT
from arabianmoney.net: My old friends at the Daily Reckoning thought that gold might take a year off in 2012 and then resume its upward march. True gold prices have been a bit listless since the $1,923 spike last September but that is not so long ago. Since then many pundits have been expecting a 2008-style financial market crash and for the gold price to get dragged down in that vortex again. It has not happened. The eurozone authorities have propt up their banking system with a $1.3 trillion easy money scheme and most recently $125 billion for Spain. More will come for Greece. Keep on reading @ arabianmoney.net |
| Chinese Gold & Silver Exchange to launch Silver trading Posted: 18 Jun 2012 04:04 AM PDT
from bullionstreet.com: HONG KONG(BullionStreet): Hong Kong's Chinese Gold & Silver Exchange Society annopunced launching silver trading in three different currencies. The exchange plans to launch silver futures in Hong Kong dollars, followed by US dollars and later by Yuan. Investors could settle in cash or opt for physical delivery. According to Haywood Cheung Tak-hay, president of the bourse said continued gains in precious metal prices and rising mainland demand prompted the Society to launch silver futures. Given that there's no sign of any resolution to the euro-zone crisis, gold and silver look like a safe haven for investors, he added. Keep on reading @ bullionstreet.com |
| The Real ‘Goldilocks Economy’, Part III Posted: 18 Jun 2012 04:04 AM PDT In Parts I and II we first looked at what a Goldilocks Economy is not, then we looked at the actual characteristics of a Goldilocks Economy. But what does Goldilocks herself really look like? She looks like the Middle Class. As everyone knows, the entire Goldilocks fable centers around her entrance to the domicile of the Three Bears, and her quest for balance: not "too hot", not "too cold", but "just right". And so it is with the Middle Class. It inherently epitomizes this Goldilocks concept, and thus it is by no means a coincidence that the Middle Class has dwindled to a minority at precisely the same time our economies are plummeting toward total collapse and bankruptcy. At the risk of over-repetition, I will trot out the 2,000-year old maxim from Greek philosopher Plutarch: An imbalance between rich and poor is the oldest and most fatal ailment of all Republics. I've explained this concept in detail in previous commentaries, but for the moment I'll simply deal with its outward appearance. A normal (healthy) economy has a wealth-distribution pattern relatively spherical in shape: a big bulge in the middle, which tapers sharply at both ends. Conversely, as an economy becomes hollowed-out, and a chasm between rich and poor emerges (as is the case today), then that wealth distribution curve takes on a very unhealthy hourglass configuration: bulges at both extremes, and tapering at the middle. Why was it already 'old news' 2,000 year ago that a small Middle Class was "the oldest and most fatal ailment of all Republics"? Because of all of the "Goldilocks" economic virtues epitomized by the Middle Class. The reason why B.S. Bernanke borrowed the Goldilocks concept for his own propaganda in the first place was because of one, specific analogy. Economies, like porridge, can be both "too hot" or "too cold", and what is ideal is a "just right" balance between those two extremes. Living in "consumer economies" (i.e. anemic, mature economies which have lost their manufacturing base), we can summarize the Goldilocks concept with a single economic statistic: the marginal propensity to consume. This economic jargon merely refers to the percentage of each dollar that is spent by a consumer. Thus if we spend every dollar as fast as we receive it that would represent a marginal propensity to consume of 100%, while if we hoarded every dollar we received that would represent a marginal propensity to consume of 0%. It's easy to understand why hoarding all of our money is bad. This is precisely what I'm referring to when I speak of the "hollowing out" which has taken place in our economies especially over the past two decades. The top-20%, and most especially the top-1% are hoarding such an enormous percentage of total wealth (the greatest hoarding since the Industrial Revolution) that our anemic economies have too little wealth actually fueling our capitalist machinery. The result is totally predictable: sluggish growth (actually no growth at all) and huge deficits; as the lack of economic activity inevitably means that our economies are producing far too little revenues to sustain themselves. Naturally the ultra-wealthy are desperate to conceal this fundamental truth, since the only "solution" to this scenario is to tax-back some of what they have stolen from us previously through banking and taxation. As was utterly obvious to Plutarch (and his peers) 2,000 years ago, no economy can survive without a viable tax base; as cities (and modern societies in general) require services in order to maintain functional communities, and services require funding. Our economies will never again be economically viable unless/until some of the $10's of trillions now being hoarded by the top-1% is disgorged, redistributed, and (once again) reintegrated into our economies. |
| India Gold production dips 31.2% to 119 kg in April Posted: 18 Jun 2012 03:53 AM PDT
from bullionstreet.com: EW DELHI(BullionStreet): India produced 119 kilograms of gold in April this year while diamond production hit 1483 carats in the same period. Acording to official data from country's Mineral ministry, gold production dropped 31.2% during the period while diamond production drops 6.2% compared to last year. Index of mineral production of mining and quarrying sector in April 2012 was lower by 16.6% compared to that of the preceding month.The mineral sector has shown a negative growth of 3.1% during April 2012 as compared to that of the corresponding month of previous year. The total value of mineral production (excluding atomic & minor minerals) in the country during April 2012 was Rs.17084 crore. Keep on reading @ bullionstreet.com |
| Gold slips following Greek election Posted: 18 Jun 2012 03:41 AM PDT
from marketwatch.com: Gold for August delivery GCQ2 -0.10% slipped $11.90, or 0.7%, to $1,615.70 an ounce on the Comex division of the New York Mercantile Exchange. The losses came on the heels of a strong week for gold futures, in which the benchmark contract rose 2.3% amid hopes for fresh easing from the world's major central banks.Selling "may be limited as the slow recovery on two continents continues," said George Gero, a vice president at RBC Wealth Management, in emailed comments. Gold is likely to trade in a range between $1,600 to $1,650 an ounce in the short term. Investors looked past Greece and relief with election results there to worry about Spain and rising cost of Spanish debt. Yields on Spain's 10-year bonds surpassed 7% early Monday. Keep on reading @ marketwatch.com |
| Gold dips as Greek concerns ease Posted: 18 Jun 2012 03:36 AM PDT
from bullionstreet.com: SINGAPORE(BullionStreet): Gold dropped in Asian trade Monday after concerns over Greekm exit from euro zone subsided after elections there. Gold for immediate delivery was seen trading at $1622.94 an ounce at 12.00 noon Singapore time while U S gold futures for August delivery was seen at $1,624.80 an ounce.Analysts said the precious yellow metal continued to remain in volatile zone on what awaits the euro zone after the Greek poll. Gold is still up more than 3 percent so far in June, with investors likely to remain nervous on what awaits the euro zone after the Greek poll, given high borrowing costs in Spain and Italy and the continued threat of the region's debt crisis to the global economy. Keep on reading @ bullionstreet.com |
| Posted: 18 Jun 2012 02:38 AM PDT
from tfmetalsreport.com: Do you have the feeling that gold and silver were going to get pounded, regardless of how the Greek elections came out? Me, too. And after all the finagling, dealing and double-crossing, did you actually think that the European central bankers and politicians were going to leave anything up to chance? Me, neither. So, after all the hand-wringing and angst, the Greek people "voted" for austerity. Rrrright. I'm sure they did. It hardly matters, anyway. We've got much bigger fish (and frogs) to fry. The negligible rally in the euro tonight bears this out. In an absolutely stunning development, gold opened at 1630 and silver opened at 29 before being mercilessly attacked by The Flying Monkeys. Fortunately, buyers once again emerged at the levels where they have been materializing for the past week or so, namely 1610 and 28.30. Let's hope this continues overnight and into Monday. Keep on reading @ tfmetalsreport.com |
| Bank Holidays Begin in France? Banque Postal Stops Wires & Cash Transactions Friday Posted: 18 Jun 2012 02:32 AM PDT
from silverdoctors.com: Contagion fears and panic appear to have reached France's shores ahead of Sunday's Greek vote, as Max Keiser has received a first-hand account that France's large Banque Postal stopped outgoing bank wires due to 'technical glitches', and also stopped cash transactions beginning at 8am Friday! As a precaution, we recommend readers take the time Sunday to ensure they have a minimum of 1-3 months supply of necessities on hand, and as always, protect your financial assets with PHYSICAL gold and silver held in your own possession. Keep on reading @ silverdoctors.com |
| Posted: 18 Jun 2012 02:21 AM PDT
from azizonomics.com: n spite of the fact that 85% of Greeks want to stay in the Eurozone, I was reasonably confident that Greeks would support Syriza to a first-place finish, and elect a new government willing to play chicken with the Germans. However Greeks — predominantly the elderly — rejected change (and possible imminent Drachmatization) in favour of the fundamentally broken status quo. But although Syriza finished second, the anti-bailout parties still commanded a majority of the votes. And New Democracy may still face a lot of trouble building a coalition to try to keep Greece in the bailout, and in the Euro . There has long been a rumour that Tsipras wanted to lose, so as to (rightly) blame the coming crush on the status quo parties. What fewer of us counted on was that the status quo parties wouldn't want to win the election either. The pro-bailout socialists Pasok have thrown a monkey wrench into coalition-building by claiming they won't take part in any coalition that doesn't also include Syriza. This seems rational; when the tsunami hits, all parties in government will surely take a lot of long-term political damage. Pasok have already been marginalised by the younger and fierier Syriza, and Pasok presiding over an economic collapse (for that is undoubtedly what Greece now faces) would surely have driven Pasok into an abyss. The economy is such a poisoned chalice that parties seem willing to fight to keep themselves out of power. Keep on reading @ azizonomics.com |
| Posted: 18 Jun 2012 02:03 AM PDT
from harveyorgan.blogspot.ca: Good morning Ladies and Gentlemen; Before I commence with my commentary, it saddens me to report that we have 3 new entrants who on Friday took their last breath as they succumbed to the wishes of the FDIC and entered our hallowed morgue. 1. Farmers Bank of Lynchburg Tennessee Gold closed up on Friday to the tune of $6.60 to $1627.00 whereas silver still seems to be under the banking cartels control with respect to price. On Friday, the silver price rose 33 cents to $28.73. Keep on reading @ harveyorgan.blogspot.ca |
| Posted: 18 Jun 2012 01:58 AM PDT
from zerohedge.com: One European think tank which has been spot on in its skepticism over the past two years, is OpenEurope. Below they share their views on the next steps for Greece. From OpenEurope: What happens now? As the largest party, New Democracy (ND) will lead talks on forming a coalition government. The starting point will likely be negotiations over a 'national unity government' which tries to incorporate as many parties as possible. If ND fails, the mandate would normally pass onto the second and third largest parties, SYRIZA and PASOK respectively. However, SYRIZA has said it will reject the mandate, while PASOK called for it to be passed straight to Greek President Karolos Papoulias. ND still looks likely to lead the first talks, but if these fail Papoulias will take over. Given the risk of a eurozone collapse, most political leaders in Greece accept that not forming a government is not an option. Once a government is in place, negotiations with European partners will begin. Is a national unity government likely or possible? We don't think so. SYRIZA has already ruled out governing in tandem with ND, and has consistently rejected the austerity measures attached to the Greek bailout programme. Throughout the election campaign, SYRIZA leader Alexis Tsipras has been incredibly critical of ND and the 'old guard' of Greek politics – which he blames for the corruption and economic problems Greece is now facing. Keep on reading @ zerohedge.com |
| Kyrgyzstan government increasing mining taxes Posted: 18 Jun 2012 01:45 AM PDT The central Asian country of Kyrgyzstan has enormous potential in terms of gold and copper production. But owing to corruption and a lack of government oversight of mines in the country, Kyrgyzstan's ... |
| The Second Coming of the Market From Hell -- A Good Thing Posted: 18 Jun 2012 01:43 AM PDT June 18, 2012 -- According to Gene Arensberg, Sr. Editor and Publisher of the GotGoldReport (www.GotGoldReport.com), it's the second coming of the market from hell; but from a Vulture point of view, it doesn't get very much better than this. In this video, Tracy Weslosky, CEO of ProEdge Media Corp. (www.ProEdgeMedia.com) interviews Gene about current market conditions and Gene teaches investors about Negative Liquidly Events and Positive Liquidity Events. Having analyzed the charts of junior resource companies, Gene explains why it's the volatility that gives us earning power. Gene provides investors with reassuring data and technical analysis, explaining why "this is as good as it gets for Vultures, from a buying point of view..." June 18, 2012 (You Tube) http://www.youtube.com/watch?v=FbtSVuEvwbo&feature=youtu.be
The second coming of the Market From Hell has arrived. Vultures live for times like these.
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| Waiting for the other shoe to drop Posted: 18 Jun 2012 01:41 AM PDT
from goldmoney.com: All was sunshine and happiness for a few short hours earlier this morning, following news that Greece's conservative New Democracy party had won yesterday's election, and will attempt to form a pro-bailout government with other parties. The radical left's threat to the country's euro membership has subsided. The euro initially rallied over $1.272, but has now fallen back sharply on the back of a continuing rise in Spanish bond yields, which reached as high as 7.1% earlier. The Italian 10-year bond is creeping back towards the 6% mark. Gold and silver came under selling pressure when news of the election results first broke, though both have recovered and remain basically where they were on Friday. To paraphrase Roger Waters of Pink Floyd fame, all in all the Greek election just looks like another brick in the wall as far as market action is concerned. So it seems likely that the eurozone will continue muddling along towards greater fiscal union, with interest rate cuts and increased money printing from the European Central Bank to sweeten the PIIGS' austerity diet. When push comes to shove, the people of the eurozone periphery want to stay in the euro more than they want to reject Brussels' austerity drive. Keep on reading @ goldmoney.com |
| The Games Continue – 1630 & 29 Posted: 18 Jun 2012 01:38 AM PDT
from tfmetalsreport.com: As we await what could be an historic weekend, we might as well take some time to look at the current state of the paper metal markets. In a stunning development, prices appear to be capped. First of all, we have to address what happened this morning. Even ZeroHedge, which for whatever reason attempts to completely ignore metal price manipulation, got in on the act this morning. (http://www.zerohedge.com/news/gold-stop-hunt-goes-full-retard). In this instance, they are correct about the "stop hunt" but the bigger news (which isn't mentioned) is "whom" is doing the hunting and, even more suspiciously, the timing of it all. Take a look at the chart below. Note that the $10 spike UP occurred at 8:26 EDT. At exactly 8:30 EDT, the NY Fed released a completely dreadful "Empire State Manufacturing Index" update. ( http://www.zerohedge.com/news/plunging-empire-manufacturing-index-confirms-ongoing-economic-slide-imminent-central-planner-in). If we were to assign rationale for a $10 spike to the "disappointing" economic number, shouldn't the spike have occurred at 8:30 or 8:31? Hmmm? Nope, As you can plainly see, the spike occurred at 8:26. Keep on reading @ tfmetalsreport.com |
| Posted: 18 Jun 2012 01:14 AM PDT Spot dealings opened with lower prices in all but palladium this morning in New York. Gold lost $9 to be bid at $1,618 per ounce while silver declined 42 cents to the $28.32 mark per ounce. Platinum fell $2 to $1,478 the ounce while palladium bucked the trend and climbed... |
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