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- 2012-06-11 Societe Generale Gold Price Forecast
- The EUR/USD Squeeze
- Barrick: The Best Value In Gold
- Silver: The Bottom Is Not In
- Richard Russell – Is Anything Safe In Our New World?
- Tuesday Options Recap
- This Will End In Inflation & Destruction of Paper Currencies
- Why Silver Price Could Double in Three Months
- Monetary Inflation and Gold
- Gold Coin Demand in H1 2012 Shows Fundamentals Driving Current Demand
- “QE3 Probability” Could Boost Gold, No Need for Gold Standard “Until Money Collapses Completely”
- Silver Market Manipulation Taken For Granted by CNBC Host and Panelists
- Gold & Silver: Explosive 2010 Rally Poised to Repeat
- Metals & Mining Shares – Good, Bad & Ugly
- Silver Manipulated, and a Silver Exchange Holiday
- Robert Blumen talks to James Turk about gold supply and demand dynamics
- You Cant Eat Gold
- COMEX Silver Futures Skewed Short, Potentially Explosive
- Silver Manipulation is a Fact
- Silver Update: LIBOR Liars – 7.2.12
- Gold Coin Demand in H1 2012 Shows Fundamentals
- No Need for Gold Standard 'Until Money Collapses'
- Barclays threatens to implicate UK regulators in rate-rigging probe
- Worst Volume In A Decade As Stocks Eke Out Small Gain
- Mark Grant/Conditions inside Spain continue to deteriorate/Same with Spain/
- Where Was Germany’s Bullion?
| 2012-06-11 Societe Generale Gold Price Forecast Posted: 03 Jul 2012 02:32 PM PDT Societe Generale reduced its 2012 average gold price forecast from $1.810 to $1.700. |
| Posted: 03 Jul 2012 12:10 PM PDT By Kathy Lien: The EUR/USD Squeeze While it has been an extremely quiet trading with nearly all of the major currencies consolidating against the U.S. dollar, everyone cannot stop asking about the intraday squeeze in the EUR/USD. The currency pair jumped from 1.2570 to 1.2600 in a manner of minutes and extended its gains to 1.2627 before the end of the European trading session. There was little movement during the second half of the North American session, which tells us that most U.S. traders left early for the holiday. U.S. markets will be closed on Wednesday for the July 4th Independence Day holiday. Currency markets will remain open but with lower volatility and thinner trading volumes. The short squeeze in the euro reflects pre-holiday and pre-ECB repositioning by EUR/USD traders. According to last week's CFTC IMM data, speculators remain very short euros and today's price action tells us that many of them do Complete Story » |
| Barrick: The Best Value In Gold Posted: 03 Jul 2012 11:05 AM PDT By Investment Underground: by Daniel Jennings The success or failure of economic stimulus policies in the U.S. and China could decide the price of gold and the future values of gold mining stocks. Gold values recently took a large fall after the U.S. Federal Reserve announced it was not taking any further action to help the economy. This was the biggest fall in prices since March. Stimulus measures often help the price of gold because they devalue currencies and increase government debt. This can increase inflation, which makes gold more attractive as a safe haven for money. Unfortunately, the reverse is often true. The refusal of governments or central bankers to bite the stimulus bullet can cause gold prices to fall. Gold prices fall because a lack of inflation increases the buying power of cash, so there is no incentive to buy gold. Instead, cash investments, such as savings accounts, become a more Complete Story » |
| Posted: 03 Jul 2012 11:04 AM PDT DH reflects on a recent $26.25 Ag purchase.. "Did I Get The Bottom?" from daytradeshow: ~TVR |
| Richard Russell – Is Anything Safe In Our New World? Posted: 03 Jul 2012 10:48 AM PDT
from kingworldnews.com: With continued uncertainty surrounding global markets, the Godfather of newsletter writers, Richard Russell, asked an important and intriguing question, "Is anything completely safe in our new world of central bank fiat paper?" Russell also discussed gold at length, but first, this is what Russell had to say about the action in stocks: "I wanted a mechanical way to follow the secular (primary) bear market. This required a moving average that was insensitive to secondary reactions and also insensitive to cyclical (short-term) bull and bear markets. In other words, I needed a long-term moving average that would portray the primary trend while screening out most minor and secondary movements." Richard Russell continues: "After much experimenting, I came up with a 233-week moving average. The chart below starts in the year 1983 and continues to the present. The 233-week moving average is the curved blue line. (233 is a Fibonacci number: 144 + 89 = 233.) Keep on reading @ kingworldnews.com |
| Posted: 03 Jul 2012 10:46 AM PDT By Frederic Ruffy: Sentiment Market averages are holding modest gains and action is slowing ahead of the holiday break. The stock market closes early today, at 13:00 EDT, and remains closed until Thursday morning. Trading was steady overseas, with modest gains recorded across most major Asian and European equity markets. With no economic news or earnings to drive the early action, the U.S. market also opened steady heading into a report on Factory Orders, which showed a better-than-expected uptick of .7% for May. Stock market averages ticked to session highs on the data. Crude oil is also getting some attention after surging to 6-week highs on concerns about geopolitical tensions with Iran. Oil prices are now up $3.51 to $87.26 per barrel. Gold gained $24.5 to $1622.2 an ounce and the benchmark ten-year Treasury, which closes at 14:00 EDT, is down 8 ticks, pushing its yield to 1.61%. The Dow Jones Industrial Average Complete Story » |
| This Will End In Inflation & Destruction of Paper Currencies Posted: 03 Jul 2012 10:43 AM PDT
from kingworldnews.com: KWN has been receiving a tremendous number of emails, from readers and listeners, asking how this financial crisis will end. So this week we turned to the man who has studied monetary history for over four decades to ask him how this will all be resolved. Bill Haynes, President and owner of CMI Gold & Silver, had this to say about what is happening today with the ongoing crisis and where we are ultimately headed: "With all of the bearish reports on the metals, some investors are scared. Still, others call up and say, 'If they're going to give me this stuff, this cheap, I'm buying.' Eric, let me tell you, this feels like 2000. Remember those days, gold below $300, silver below $5, and we were (called) 'idiots' for buying it." Bill Haynes continues: "You bought it because you were a contrarian. It's been about 12 years ago that you gave me your reasons for buying. This is what it feels like (again), that we are considered idiots for being gold and silver bulls. But let's talk about the difference of what we're looking at today, and what we were looking at 12 years ago. Keep on reading @ kingworldnews.com |
| Why Silver Price Could Double in Three Months Posted: 03 Jul 2012 10:28 AM PDT As usual there is a solid fundamental reason for this change of direction. Up until the end of last week the euro crisis threatened an imminent blow-up. Looking forward, the precious metals are set up for a massive rally after a long period of consolidation from previous highs. |
| Posted: 03 Jul 2012 09:52 AM PDT
from news.goldseek.com: Major peaks in the gold market tend to follow major shifts in the monetary backdrop — from a high to a low monetary inflation rate — with a lag of more than two years. It probably happens this way because it takes years for the effects of a large increase in the money supply to ripple through the economy. In other words, the markets and the economy will still be reacting to a period of rapid/accelerating money-supply expansion for more than two years after the monetary trend has reversed. From a practical standpoint this is useful information because it pegs the second half of next year as the earliest time for a major gold peak. The first half of the 1970s provides us with a good example of the relationship between the major monetary trend and the major gold trend. At the end of 1974 the gold price reached a peak that would be followed by a 2-year downward trend, whereas a major downward trend in the money-supply (TMS) year-over-year growth rate commenced near the end of 1972. The second half of the 1970s provides us with an even better example. As evidenced by the first of the following charts, the TMS year-over-year growth rate began trending downward in early 1977 and had turned negative by early 1979. That is, by early 1979 the US was experiencing monetary DEFLATION. But as the second of the following charts shows and as everyone knows, the gold price rose during 1977-1978 and then accelerated upward in dramatic fashion during 1979. The ultimate peak was reached in January of 1980 — three years after the monetary trend had turned gold-bearish and one year after the US had begun to experience monetary deflation. As an aside, Paul Volcker is now widely credited with having ended the inflation of the 1970s, but when Volcker was appointed Fed chief in August of 1979 the US was already immersed in monetary deflation. This means that a commodity collapse was "baked into the cake" PRIOR to Volcker taking the top job at the Fed . Whoever was appointed Fed chief in August of 1979 would now have the credit for killing inflation, because by that time inflation was already dead. Commodity speculators just hadn't realised it yet. Keep on reading @ news.goldseek.com |
| Gold Coin Demand in H1 2012 Shows Fundamentals Driving Current Demand Posted: 03 Jul 2012 09:08 AM PDT
from goldcore.com: Today's AM fix was USD 1608.50, EUR 1278.31 and GBP 1025.70 per ounce. In New York yesterday, gold rose to $1602.14 in late morning New York trade, but it then came under selling pressure towards the close and ended with a loss of 0.02%. Gold gradually ticked higher in Asia and rose to over $1,610/oz by the open in Europe and appears to be consolidating on those gains. Gold is also higher in sterling, euros and Swiss francs at 1,026.30 GBP/oz , 1,278.30 EUR/oz and 1,535.80 CHF/oz. US markets will close early today (1300 EST) and remain closed on Wednesday in observance of Independence Day. Gold is being supported by continuing robust demand – primarily from ETFs and central bank diversification. Far from falling this demand may increase further in the coming months and the economic crisis degenerates further. Small coin and bar demand fell in H1 2012 from the very high levels seen in Q4 2011. However the US Mint data and other mints data shows that demand remains robust and may be consolidating at these levels. Keep on reading @ goldcore.com |
| Posted: 03 Jul 2012 09:04 AM PDT
from news.goldseek.com: SPOT MARKET gold prices traded close to $1610 an ounce for most of Tuesday morning in London, after breaking through the $1600 mark during the earlier Asian session. Silver prices touched $28 an ounce for the first time in nearly two weeks, while stocks and commodities also gained after disappointing US manufacturing data led to renewed speculation that the Federal Reserve might launch a third round of quantitative easing, known as QE3. US manufacturing activity fell last month, according to the June ISM purchasing managers index published Monday. The ISM PMI was 49.7 – down from 53.5 in May and below analysts' consensus forecast, which was around 52. A PMI score of less than 50 indicates contraction. "The dimmed economic outlook leads to expectations of more stimulus, which will weaken the Dollar and help metals," says one trader in Shanghai, adding that "silver will be relatively weaker than gold due to its industrial nature." "Over the last few weeks US numbers have worsened a lot," says Eugen Weinberg, head of commodity research at Commerzbank. "This has brought about the probability of QE3 – which is probably the most important reason for the market to believe in gold." Keep on reading @ news.goldseek.com |
| Silver Market Manipulation Taken For Granted by CNBC Host and Panelists Posted: 03 Jul 2012 09:01 AM PDT
from caseyresearch.com: It was a pretty quiet trading day just about everywhere on Planet Earth on Monday. The gold price got sold down about ten dollars by shortly after 10:00 a.m. Hong Kong time…and traded mostly above the $1,590 spot price mark right up until it's low price tick of around $1,587 spot that came about five minutes before the 8:20 a.m. Eastern time Comex open. Gold rallied from there, breaking through the $1,600 price mark around 10:50 a.m. in New York. That proved to be its high tick of the day…$1604.40 spot…and every other rally attempt over the $1,600 spot market got quietly, but firmly turned aside. Gold closed at $1,596.90 spot…down $2.20 from Friday's close. Net volume was only 88,000 contracts…and about 10,000 contracts of that amount was a spread trade placed early in the Far East trading day. Here's the New York Spot Gold [Bid] chart on its own, so you can see the micro-action around the $1,600 mark in New York trading. Note the pre-Comex opening low…and the multiple attempts to break above $1,600 spot. It was another day when gold's closing price would have been much higher if left to its own devices. Keep on reading @ caseyresearch.com |
| Gold & Silver: Explosive 2010 Rally Poised to Repeat Posted: 03 Jul 2012 08:56 AM PDT
from beaconequity.com: "The precious metal markets feel just like the summer of 2010," Goldmoney Chairman James Turk told King World News, Monday. With European woes presently the primary focus among investors, as it was at about the same time in 2010, Turk suggested the monster rally that began in the summer of 2010 is overdue for a major move to well past $2,000 and $50 for gold and silver prices, respectively. In the summer of 2010, gold and silver prices took 31 months to recover and eventually breakout to new bull market highs following the Lehman collapse. It's been 14 months since the brutal correction in PM prices from the April 2011 highs, but Turk believes the corrective phase may have run its course, with "sentiment being at rock bottom" as an historically reliable hint of an imminent market about-face to higher prices. To illustrate Turk's point, in order to match today's abysmally low market sentiment in the precious metals, we have to go back to October 2008, the month of panic from the post-Lehman debacle. Keep on reading @ beaconequity.com |
| Metals & Mining Shares – Good, Bad & Ugly Posted: 03 Jul 2012 08:39 AM PDT The TSX Venture has always been a boom/bust exchange. The exchange has existed for 11 years and during that time; it has gone through seven bear markets of its own. Gold meanwhile, shall once again slap perma-bears in the face on its way to a new, all-time high. |
| Silver Manipulated, and a Silver Exchange Holiday Posted: 03 Jul 2012 07:44 AM PDT |
| Robert Blumen talks to James Turk about gold supply and demand dynamics Posted: 03 Jul 2012 07:30 AM PDT Gold supply and demand dynamic have been analysed by countless people over the years, but according to Robert Blumen - a software developer and a popular writer and speaker on Austrian economics ... This posting includes an audio/video/photo media file: Download Now |
| Posted: 03 Jul 2012 07:27 AM PDT |
| COMEX Silver Futures Skewed Short, Potentially Explosive Posted: 03 Jul 2012 06:01 AM PDT HOUSTON – At the request of colleagues we respect and admire* and as a courtesy to our GGR blog readership, we are sharing below the video portion of the full Got Gold Report. We released the report below on Sunday, July 1, to Vultures (Got Gold Report Subscribers). As we noted in a short note posted on the blog on Friday, the GGRPrivate Video comments on what we viewed as a potential inflection point for the COMEX silver futures market, and "suggests a market skewed short as of Tuesday, June 26, which is contrary bullish and can lead to explosive volatility in our simple way of looking at the COT." (Commitments of traders reports.) |
| Posted: 03 Jul 2012 05:55 AM PDT CNBC Host States Silver Manipulation is a Fact, NOT a Conspiracy. from, Silver Doctors: It appears Blythe and JP Morgan's Commodities Desk have a serious issue on their hands, as now even CNBC hosts are openly admitting that silver is manipulated and that silver manipulation is a fact, and NOT a conspiracy! ~TVR |
| Silver Update: LIBOR Liars – 7.2.12 Posted: 03 Jul 2012 05:17 AM PDT BJF discusses the Ag chart and discusses LIBOR in the Silver Update 7/2/12 LIBOR Liars. from brotherjohnf: ~TVR |
| Gold Coin Demand in H1 2012 Shows Fundamentals Posted: 03 Jul 2012 05:12 AM PDT Gold gradually ticked higher in Asia and rose to over $1,610/oz. by the open in Europe and appears to be consolidating on those gains. US markets will close early today and remain closed on Wednesday in observance of Independence Day. |
| No Need for Gold Standard 'Until Money Collapses' Posted: 03 Jul 2012 04:57 AM PDT Spot market gold prices traded close to $1,610 an ounce for most of Tuesday morning in London, after breaking through the $1,600 mark during the earlier Asian session. Silver prices touched $28 an ounce for the first time in nearly two weeks. |
| Barclays threatens to implicate UK regulators in rate-rigging probe Posted: 03 Jul 2012 04:56 AM PDT from gata.org: The rats are starting to turn on each other. Eventually gold and silver market rigging may be mentioned as well. * * * Barclays Chief Threatens to Hit Back By Patrick Jenkins, Brooke Masters, and George Parker http://www.ft.com/intl/cms/s/0/0130d092-c473-11e1-9c1e-00144feabdc0.html Bob Diamond is threatening to reveal potentially embarrassing details about Barclays' dealings with regulators if he comes under fire at a parliamentary hearing on Wednesday over the Libor rate-setting scandal, according to people close to the bank's chief executive. "If he is attacked, he will fight back," said one person familiar with preparations for the Treasury select committee hearing. Such a confrontational tactic could aggravate the fraught relations between the bank and the authorities after Barclays paid L290 million to settle an investigation by UK and US regulators over the bank's involvement in manipulating key interbank lending rates. Keep on reading @ gata.org |
| Worst Volume In A Decade As Stocks Eke Out Small Gain Posted: 03 Jul 2012 04:33 AM PDT
from zerohedge.com: The NYSE volume today was abysmal. According to BBG data, this was the lowest volume day in over a decade and even compared to other July 1st (or holiday weeks) this was the lowest volume print. Average trade size for the S&P 500 e-mini futures was also very small – almost the lowest of the year as low volumes and the narrowest high-to-low range for ES in over two months still managed to hold on to small gains for the day. In the face of this relative exuberance, Treasury yields dumped down 5 to 6 bps across the board remaining the most cognitively dissonant of risk assets on the day. HYG underperformed (as HY and IG credit indices were very quiet and reracked along with ES for most of the day). HYG did end Friday notably rich to intrinsics so this makes some sense but is unusual for a positive close in ES (as we note that 16 of the 24 times in the last year that HYG has closed red and SPY closed green, SPY has gone on to lose more in the next few days). EURUSD lost quite a bit of ground (again seemingly ignored by US equities) as USD rise 0.35% from Friday's close (albeit with AUD rallying modestly along with JPY). Oil retraced almst 50% of its spike gains from Friday but then pushed back up over $83.50 into the close and while Silver and Gold flatlined ending practically unchanged, Copper also lost a little ground (2x beta of USD) on growth slowing from China's data we assume.As with pretty much any rally, financials, energy and tech were the higher-beta winners all gathered perfectly correlated around 0.6% gains on the day (but we note that JPM and Citi remain negative from Friday's opening print). VIX ended the day below 17% (down a measly 0.25 vols) – its lowest close in two months – and while implied correlation managed to make modest gains (to around 65%) risk assets in general were only moderately correlated as equities outshone CONTEXT on the day. The black dotted line is the decade long average NYSE trading volume for each day and orange is this year's volume – as can be seen it is well below average and well below the worst also (red line)… Keep on reading @ zerohedge.com |
| Mark Grant/Conditions inside Spain continue to deteriorate/Same with Spain/ Posted: 03 Jul 2012 04:31 AM PDT
from harveyorgan.blogspot.ca: Good evening Ladies and Gentlemen: I will be away for a week with limited access to a computer. I will try and give you all the highlights on the comex at least accompanied by a few major stories. I will resume comprehensive reports next Monday. The price of gold closed down by $1.60 to $1597.70 whereas silver rose by 10 cents to $27.54 The total comex gold rose approximately by 1600 contracts from 416,509 to 418,129. The front August delivery month of July saw its OI fall by 1000 contracts from 213,143 to 212,152. The estimated volume today was a very meek 92,993 compare to Friday's confirmed level of 212,204. The July delivery month saw its OI fall from 694 to 67 for a loss of 527 contracts. We had 652 contracts served on Friday so we lost 114 contracts to either rollovers or cash settlements. Keep on reading @ harveyorgan.blogspot.ca |
| Posted: 03 Jul 2012 04:21 AM PDT Whether it could not be located due to bad recordkeeping by the Federal Reserve or because the gold was not in the vault is not as significant as the nonchalant response to what is astonishingly called an "amusing incident." |
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