Gold World News Flash |
- Confidence Game
- Rick Rule - The Availability Of Physical Gold Will Disappear
- China Futures market witness 1.03 billion transactions in 9 mths
- Gold Seeker Closing Report: Gold and Silver End Mixed
- Gold Double Inside Day on an Outside Day Typical of False Moves
- Silver Update 10/3/12 Swift Rial Decline
- A Capitalist Revolt in Socialist France
- BullionVault Gold Investor Index: A tool to to track how private investors react to the price actions in gold
- Full On Currency Collapse In Iran Right Now, Very Dangerous
- In The News Today
- Deutsche Bank Raises 2013 Gold Forecast to $2,113
- So, Who's Been Bidding Gold Price Higher?
- Is Gold The Only Protection From The Fed’s Monetary Madness?
- Iranian nosedive
- Same Play - Different Act
- Guest Post: Hyperinflation Has Arrived In Iran
- Massive Fear In Gold Means We May Not See A Correction
- Gold: A Prolonged Correction Favors Traders over Position Investors
- Market Commentary From Monty Guild
- Casey Summit: How Investors Can Protect Themselves in a Politicized Economy
- The Gold Price Gained $4.60 Today to $1,777.30 Must Close Above $1,790
- Jim Rogers : Precious Metals are going to make a lot of Money for a lot of people in the next decade
- Gold Daily and Silver Weekly Charts
- Charles Gibson Unearths Hidden Mining Gems in Africa
- So, Who's Been Bidding Gold Higher?
- Felix Moreno de la Cova: Revisiting 'Gold Wars' by Ferdinand Lips
- Bill Gross Says Only Gold and Real Assets Will Thrive in Fiscal ‘Ring of Fire’
- What is the Best Way to Inflation-Proof Your Portfolio? Here are the Options and Recommendations
- Gross: A Continuation of U.S. ?Fiscal Gap? Suggests Shorting Bonds & Owning Gold Could Produce Major Returns ? Here?s Why
- Gold COT: on the cusp of a short-covering extraveganza?
| Posted: 04 Oct 2012 08:02 AM PDT After months of nothing but ugly, the market for resource stocks finally took a meaningful turn for the better. We all know the reason for that. US Fed chief Bernanke delivered on QE3 and the gold market responded. The chart below shows how impressive the rally that kicked off in August has been. Bernanke telegraphed his move and the markets were already cheering a push by the ECB for its own money printing. By the time the Fed announcement of $40 billion a month in mortgage backed bond purchases was announced a lot of the gain was in.
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| Rick Rule - The Availability Of Physical Gold Will Disappear Posted: 03 Oct 2012 10:01 PM PDT  Today Rick Rule told King World News "At some point we will see the availability of physical gold disappear when we begin to see widespread public ownership like we witnessed in the 1970s." Rule, who is now part of Sprott Asset Management, also noted that "... gold will do well because the value of currencies will continue to erode." Here is what Rule had to say: "It was a nice catch by Michael Pento the other day on KWN, and I suspect he's exactly right that we are looking at QE4. It seems to me that regardless of the excuse, the Fed will find ways to add liquidity into the system for a couple of reasons. First, they feel the desperate need to keep the system, at least a big part of the system, liquid, in order to avoid a 2008 style decline."
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| China Futures market witness 1.03 billion transactions in 9 mths Posted: 03 Oct 2012 10:00 PM PDT by Ben Traynor, Bullion Street:
According to China Futures Association, the increase by up 31.62 percent from the previous year, is a new record. Total turnover of China's futures market hit 119.58 trillion yuan ($19 trillion) during the first three quarters of 2012, a year-on-year increase of 16.44 percent. In September, turnover rose 42.51 percent year-on-year to 18.03 trillion yuan, up 12.5 percent from the previous month, FTA said in a statement. Volume was modestly active on the Shanghai Futures Exchange, one of China's four major futures markets, last month as the US policy of quantitative easing and China's approval of infrastructure projects pushed prices of manufactured goods, including precious metals and steel, higher.
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| Gold Seeker Closing Report: Gold and Silver End Mixed Posted: 03 Oct 2012 10:00 PM PDT Gold fell $3.50 to $1771.60 in Asia before it edged up to $1781.65 in early New York trade and then chopped back lower at times, but it still ended with a gain of 0.19%. Silver climbed up to $34.848 in early New York trade, but it then fell back off in afternoon trade and ended with a loss of 0.06%.
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| Gold Double Inside Day on an Outside Day Typical of False Moves Posted: 03 Oct 2012 09:24 PM PDT courtesy of DailyFX.com October 03, 2012 03:51 PM Daily Candles Prepared by Jamie Saettele, CMT A previously rare occurrence has popped up 3 times since June. That is, gold has traded in a double inside day AFTER an outside day. Before June, one had to look back to 2009 to find this pattern. The pattern is a function of volatility contraction and the plethora of orders on each side of the narrow range is conducive to false breaks. One can envision a spike to a new high (above 1790.55 and maybe 1802.80) following Fed minutes tomorrow before gold reverses and declines sharply. LEVELS: 1736.05 1750.90 1763.25 1791.49 1802.80 1819.05...
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| Silver Update 10/3/12 Swift Rial Decline Posted: 03 Oct 2012 09:09 PM PDT |
| A Capitalist Revolt in Socialist France Posted: 03 Oct 2012 08:44 PM PDT Wolf Richter www.testosteronepit.com The French government is trying to reign in its deficit by jacking up taxes, including the capital gains tax, which it wants to bring to the same level as the tax on income earned by the sweat of your brow—an old philosophical pillar of the French left. But an explosive essay published last Friday hit a nerve with entrepreneurs, venture capital investors, artisans, and mom-and-pop business owners. And their anger, which spread across the social media, the papers, and finally TV news, turned into an open revolt. The trigger was an editorial in La Tribune by John-David Chamboredon, Executive President of ISAI, an internet startup fund. After the Finance Law 2013 was proposed during the presidential elections, he wrote, “la France du business stopped breathing.” Investments and hiring were put on hold. The cause: the capital-gains tax provisions. An entrepreneur, for example, who risked his savings, spent 10 years growing his business, created perhaps hundreds of jobs, survived all the challenges, and then wanted to cash out, would have to pay two layers of taxes on the capital gains, totaling, according to his calculations, 60.5%. And so would investors. It would kill entrepreneurship. Funding for startups would dry up. And growth in the private sector would wither. “If the fiscal maelstrom is confirmed, the sequence of events is quite clear,” he wrote. “Instead of hiring people and developing the business, owners threatened by this confiscation would spend the rest of 2012 imagining ways to escape it.” There are legal ways, he said, for example by creating a holding company in Luxembourg that would retain the shares of the startup, or by relocating top management to London (which is rolling out the red carpet). Startups funded by large funds could do this. Small operations would be stuck in France. For them, it’s going to be tough. And it would put a damper on job creation in France, he said. Articles in La Tribune are normally tweeted a few times and liked on Facebook a few more times. But this one was tweeted 1,576 times and liked 5,601 times. Over the weekend, it gave rise to the movement of the Pigeons—which in French also means “sucker.” The revolt of the bosses was born. “We are the result of the anti-economic policy of the government that has decided to take the thousands of entrepreneurs in this country for suckers (pigeons) and annihilate entrepreneurship,” their manifesto explains. And a demonstration of the bosses in front of the National Assembly was organized on Facebook for October 7. Anger against the “fiscal overkill” continues to grow. Entrepreneurs and those who invest in them see this law “as an act of vengeance by those who run the government or who live off it!” said Philippe Villin, an investment banker close to the entrepreneurs. “The France that is taking risks and is investing their own money in the jobs of tomorrow, and might lose everything, has the feeling of being rejected by the France that is more protected,” added Agnes Verdier-Molini, Director of iFRAP, a public policy think tank. Money is already drying up. “We had three deals going. Since Friday, everything is suspended, because with taxes this confiscatory, it doesn’t work anymore for the business leaders,” said Bertrand Rambaud, President of Siparex, an investment fund. “La France du business stopped breathing,” as Chamboredon wrote, has already occurred. The Services Activity Index dropped to an 11-month low. Orders plunged, and companies responded by cutting their work force at the fastest rate since December 2009. The Draghi-Bernanke effect kicked them in the teeth with higher input costs that they couldn’t pass on. And the Composite Index, which combines the service and manufacturing indices, plunged to 43.2, the lowest since March 2009—the depth of the financial crisis. It couldn’t have come at a worse time for President François Hollande. Since his election in May, according to the latest poll, voter confidence in his ability to handle the crisis dropped from 55% to 41%. And those who were “not confident” shot up to 56%. He has become unpopular in less than six month—which in France has never happened before. He can’t afford an open revolt by small business owners—or the label “anti-startup,” when unemployment is at a 13-year high, and when every job counts. So the government decided to do some fence-mending. It has offered to listen to the “Pigeons” and apparently is studying “solutions” to the capital-gains tax debacle to “return to the situation as it was before.” And unnamed members of the government might perhaps negotiate with the Pigeons—who in return cancelled the demonstration. The Paris auto show, which took place at the same time, should have been exciting. Over 100 new models. Chicks next to some of them. Nausea-inducing colors, downsized motors. Something for everyone. But it had been preceded by supplier events loaded with the dire verbiage of an industry on a death march. Particularly in France, whose private sector is veering into economic fiasco. And now it became official. Read..... Worse Than The Infamous Lehman September: France’s Private Sector Gets Kicked Off A Cliff. And here is Chriss Street’s Global Militarization Follows “9/11 Squared.” On 9-11, the US’s role to provide peace in the Western World was challenged for the first time since the collapse of the Soviet Union, he writes. But with the assassination of America’s Ambassador to Libya, that role was terminated. Read the article here. As for me, it all started in France ... with a Japanese girl—a “funny as hell nonfiction book about wanderlust and traveling abroad,” a reader tweeted. Read the first few chapters for free on Amazon, where it’s one of the bestsellers under Japan.... BIG LIKE: CASCADE INTO AN ODYSSEY.
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| Posted: 03 Oct 2012 08:30 PM PDT All the gold price charts posted on the web (including those appearing on the right column of this page) do not represent the actual price one would pay for a physical ounce of gold. The price shown is the spot price, the price that is quoted in major exchanges if you want to buy gold today, [...] 
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| Full On Currency Collapse In Iran Right Now, Very Dangerous Posted: 03 Oct 2012 08:10 PM PDT |
| Posted: 03 Oct 2012 08:04 PM PDT
Fund managers dump bullion for gold shares Professional investors who want exposure to gold are starting to put their money in gold-related shares rather than the metal itself. By Emma Wall Gold shares are being snapped up by fund managers in place of bullion, as the derating that has occurred over the Continue reading In The News Today
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| Deutsche Bank Raises 2013 Gold Forecast to $2,113 Posted: 03 Oct 2012 07:30 PM PDT from Truth in Gold:
"While we have targeted gold prices moving above $2,000/oz since the beginning of 2011, we believe the Fed's open ended programme of QE (quantitative easing) announced last month increases our confidence that a surge in the gold price above this level is only a matter of time," Deutsche Bank said in a research note on Tuesday. It also raised its 2013 price forecast for West Texas Intermediate crude by 9.4 percent to $104.75 per barrel and for Brent crude by 9.1 percent to $113.50. Read More @ Truthingold.blogspot.com
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| So, Who's Been Bidding Gold Price Higher? Posted: 03 Oct 2012 06:15 PM PDT A unique, innovative tool for seeing just what private investors are doing in gold... Gold was up, up and away in September. But who was doing the buying? New data we released today here at BullionVault show that private households across Western Europe and the US continue to join the bull market. But their response to QE3 and the latest phase of the Eurozone crisis is more measured - you might even say complacent - than the recent price action alone suggests.
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| Is Gold The Only Protection From The Fed’s Monetary Madness? Posted: 03 Oct 2012 05:44 PM PDT By Axel Merk Investors are concerned about inflation. But how can investors attempt to inflation-proof their portfolios? Buy TIPS? Short Treasury bonds? Stocks? Real Estate? Commodities? Gold? Currencies? Or should investors regard those warnings about inflation as fear mongering? Indeed, as the Federal Reserve (Fed) announced its latest round of quantitative easing ("QE3"), gauges of [...]
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| Posted: 03 Oct 2012 05:00 PM PDT Once again we are reminded of how important it is to diversify into gold before not after a country enters the throes of a monetary crisis. Over the past week Iranian rial has lost more than half its value. The suddenness of the decline is breathtaking and serves as warning. According to The Globe and Mail newspaper, "[h]undreds of police in anti-riot gear stormed the currency exchange district of Ferdowsi, arresting illegal money changers and ordering licensed exchange bureaus and other shops closed." I have studied a good many historical examples of the makings and after-effects of a monetary crisis. Two commonalities in severe breakdowns are (a) how quickly the situation deteriorates, and (b) how so much of the population is caught unaware, unprepared and victimized by it. It's like someone throws a switch. . .One minute all is fine; the next minute all hell breaks loose. MK P.S. I am certain the financial markets have only begun to sort out the ramifications of the Iranian currency crisis. Iran remains the fourth largest producer of oil in the world after Saudi Arabia, Russia and the United States, according to the U.S. Central Intelligence Agency. This may be why gold is now moving in the aftermarket. This situation could prove dangerous. . .
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| Posted: 03 Oct 2012 03:22 PM PDT [url]http://www.traderdannorcini.blogspot.com/[/url] [url]http://www.fortwealth.com/[/url] Nothing much has changed since my last post which is why I have refrained from posting any recent comments since this past weekend. Gold is stuck below $1785 - $1800 and Silver is stuck below $35. Until these respective resistance levels are convincingly cleared, the market is going to sit here with the risk of the shorter-term oriented speculative longs getting impatient and bailing out. Thus far bears cannot break down either market but neither can the bulls blow past the obvious overhead capping action. This week's COT report will be informative in allowing us to see what kind of , if any, spec liquidation has been occuring. Some sort of trigger seems to be needed for a fresh leg higher. With crude oil getting thumped lower today and now below $90, the initial rush to buy everything looking like a commodity on the heels of the QE3 juggernaut, has obviously dissipated. Both of the precious...
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| Guest Post: Hyperinflation Has Arrived In Iran Posted: 03 Oct 2012 03:08 PM PDT As we have been actively warning for a few days now (Iran's Misery Index and here) - and has now become mainstream media-critical - Iran is accelerating toward significant regime volatility... it seems our note on hyperinflationary case studies and the 'blame' and 'denial' extension is particularly timely... Submitted by Steve H. Hanke via Cato-at-Liberty, Since the U.S. and E.U. first enacted sanctions against Iran, in 2010, the value of the Iranian rial (IRR) has plummeted, imposing untold misery on the Iranian people. When a currency collapses, you can be certain that other economic metrics are moving in a negative direction, too. Indeed, using new data from Iran's foreign-exchange black market, I estimate that Iran's monthly inflation rate has reached 69.6%. With a monthly inflation rate this high (over 50%), Iran is undoubtedly experiencing hyperinflation. When President Obama signed the Comprehensive Iran Sanctions, Accountability, and Divestment Act, in July 2010, the official Iranian rial-U.S. dollar exchange rate was very close to the black-market rate. But, as the accompanying chart shows, the official and black-market rates have increasingly diverged since July 2010. This decline began to accelerate last month, when Iranians witnessed a dramatic 9.65% drop in the value of the rial, over the course of a single weekend (8-10 September 2012). The free-fall has continued since then. On 2 October 2012, the black-market exchange rate reached 35,000 IRR/USD – a rate which reflects a 65% decline in the rial, relative to the U.S. dollar.
The rial's death spiral is wiping out the currency's purchasing power. In consequence, Iran is now experiencing a devastating increase in prices – hyperinflation. As Nicholas Krus and I document in our recent Cato Working Paper, World Hyperinflations, there have been 57 documented cases of hyperinflation in history, the most recent of which was North Korea's 2009-11 hyperinflation. That said, North Korea's hyperinflation did not come close to the magnitudes reached in the recent, second-highest hyperinflation in the world, that of Zimbabwe, in 2008, nor has Iran's hyperinflation – at least not yet.
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| Massive Fear In Gold Means We May Not See A Correction Posted: 03 Oct 2012 03:06 PM PDT  Today 25 year veteran Caesar Bryan surprised King World News when he said that everyone is looking for a correction because of the increased commercial short position in gold, so we may not see one. Bryan, from Gabelli & Company, stated, "... because of the overwhelming fear of a correction here, it may not happen." Here is what Caesar had to say: "I think all of the worry about the commercial short position in gold and silver is just short-term noise. To the extent that can help in somebody's trading activity that's fine, but it's not something I am concerned about in the long-run."
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| Gold: A Prolonged Correction Favors Traders over Position Investors Posted: 03 Oct 2012 02:56 PM PDT The QE announcement and the climb in the price of gold during recent weeks have produced a rush of enthusiasm, with some market watchers seeing it as a breakout move and many others predicting a generally upward path beyond the ... Read More...
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| Market Commentary From Monty Guild Posted: 03 Oct 2012 02:47 PM PDT Jim Sinclair's Commentary A note regarding Monty's subscription service. The information and analysis you get in our commentaries is not obvious. It's the knowledge and research of seasoned investors. Guild Investment Management will be hosting it's 3rd conference call for Gold Subscribers (Global Investing In The Current Macro Environment) on October 12th, 2012 at Continue reading Market Commentary From Monty Guild
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| Casey Summit: How Investors Can Protect Themselves in a Politicized Economy Posted: 03 Oct 2012 02:47 PM PDT Right on the heels of the Republican and Democratic National Conventions, the recent Casey Research Summit in Carlsbad, California—cosponsored by SprottGlobal—focused on a timely theme: "Navigating the Politicized Economy." The somber revelations of the summit contrasted with the buzz of the party conventions. The Gold Report sat down with Louis James, Casey Research's chief metals [...]
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| The Gold Price Gained $4.60 Today to $1,777.30 Must Close Above $1,790 Posted: 03 Oct 2012 02:36 PM PDT Gold Price Close Today : 1777.30 Change : 4.60 or 0.26% Silver Price Close Today : 34.631 Change : 0.027 or 0.08% Gold Silver Ratio Today : 51.321 Change : 0.093 or 0.18% Silver Gold Ratio Today : 0.01949 Change : -0.000035 or -0.18% Platinum Price Close Today : 1690.30 Change : 7.40 or 0.44% Palladium Price Close Today : 656.25 Change : 3.70 or 0.57% S&P 500 : 1,450.99 Change : 5.24 or 0.36% Dow In GOLD$ : $156.96 Change : $ (0.25) or -0.16% Dow in GOLD oz : 7.593 Change : -0.012 or -0.16% Dow in SILVER oz : 389.67 Change : 0.05 or 0.01% Dow Industrial : 13,494.69 Change : 12.33 or 0.09% US Dollar Index : 79.94 Change : 0.187 or 0.23% The silver and GOLD PRICE have both traced out that sort of pattern. They have broken through their uptrend lines and traded sideways. Certainly, that may prove no more than a consolidation before moving higher. However, after that long rise from mid-August, isn't it more likely a reversal pattern? Tension is growing in both metals as their daily ranges shrink. The GOLD PRICE gained $4.60 today to $1,777.30, but the range was only $10, from $1,781.55 to $1,771.58. That limb just keeps growing farther from the tree, and gravity never stops insisting. A GOLD close above $1,790 would prove my musings wrong, but if it closes below $1,765 y'all will hardly have time to move out of the way. The SILVER PRICE added 2.7 cents today to 3463.1c, which is about as close to flat as you can come without actually being a fritter. Range narrowed from 65 cents yesterday to 38 cents today, 3486c to 3448c. That limb's growing longer and longer. MACD indicator has also turned down for silver and gold. I walked outside this morning and the crisp world had been washed clean by rain and the sun was painting the trees and I thought, "I could live 100 years in a dark basement just to live on one day like this." My wife says that's probably an exaggeration, but not much. I've been wavering back and forth on silver and gold but have finally come to an easier mind about it. It's always dangerous to ditch your first analysis after that proves correct, and more dangerous still to anticipate future rather than accept present facts. More later. Read something today that prompted my brain to shake off the dust. What is the one outcome that investors expect least? Right, a dollar rally, 'cause after all the world "knows" that QE3 has doomed the dollar. But wait -- if all the world knows that, then they've already put down their money and placed their bets, that's already done its work. That's priced in, and the biggest surprise would be the dollar index climbing through 80. Rally like that wouldn't have to last long to smash silver, gold, and stocks very painfully. Today the US dollar index did NOT follow through toward the earth's core, but jumped up off yesterday's lows to 79.938, up 0.187 or 0.24%. Since the mid-September intraday low at 78.60, the dollar index has tried but failed to break down that door at 80. Today the downtrend line stands about 80.25. A close above that would first puzzle, then astonish all those folks short the dollar. After a day or so with higher closes, they would panic and cover those short positions -- at any price. Next resistance up there stands about 81.00. A close below 79.40 would knock this theory in the head. Yen's and euro's behavior today makes the theory yet more plausible. Yen gapped down 0.45% through its 20 and 50 day moving averages (trading near each other) and closed below the 50 DMA at 127.38c. After sledding up its 20 DMA for six days, today the Euro closed at $1.2899, down 0.14% and below the $1.2921 20 DMA. In fact, it's floating only a little higher than its 200 DMA, now $1.2831. Gravity is not pleased with these markets. Likewise gravity is weighing heavily on stocks. Stocks tried mightily to rise today, but gave up about mid-day. Once again today, the Dow was weaker than the other indices, although it did not close down while the others closed up. S&P500 gained 0.36%, Dow gained 0.09%. Dow rose 12.33 to 13,494.69. S&P500 gained 5.24 to 1,450.99. If QE3 was such a great boost to stocks, why have they stalled here? Maybe Bernanke shot the inflation cannon but it was only a popgun. Nor is gravity absent from the silver and gold markets. Think of a live oak limb. Y'all know how the grow out impossibly long from the tree? Along comes a hurricane . . . Finally, what can the central bank announcements on Thursday add to the gloomy outlook for the US dollar? Not much. If other central banks lower interest rates, it will only make them LESS attractive against the dollar. And if Spain asks for a bailout and gets it, will that make the euro a better currency? Not till pigs fly. There's no hurry here. Another market train leaves the station every day. I can wait a little while on the next one, rather than climb on one going the wrong way. On 3 October 1776 Congressed borrowed $5 million to halt the rapid depreciation of the Continental currency. It didn't. Argentum et aurum comparenda sunt -- -- Gold and silver must be bought. - Franklin Sanders, The Moneychanger The-MoneyChanger.com 1-888-218-9226 10:00am-5:00pm CST, Monday-Friday © 2012, The Moneychanger. May not be republished in any form, including electronically, without our express permission. To avoid confusion, please remember that the comments above have a very short time horizon. Always invest with the primary trend. Gold's primary trend is up, targeting at least $3,130.00; silver's primary is up targeting 16:1 gold/silver ratio or $195.66; stocks' primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold; US$ or US$-denominated assets, primary trend down; real estate bubble has burst, primary trend down. WARNING AND DISCLAIMER. Be advised and warned: Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that short term trading outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures. NOR do I recommend investing in gold or silver Exchange Trade Funds (ETFs). Those are NOT physical metal and I fear one day one or another may go up in smoke. Unless you can breathe smoke, stay away. Call me paranoid, but the surviving rabbit is wary of traps. NOR do I recommend trading futures options or other leveraged paper gold and silver products. These are not for the inexperienced. NOR do I recommend buying gold and silver on margin or with debt. What DO I recommend? Physical gold and silver coins and bars in your own hands. One final warning: NEVER insert a 747 Jumbo Jet up your nose. No, I don't. 
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| Jim Rogers : Precious Metals are going to make a lot of Money for a lot of people in the next decade Posted: 03 Oct 2012 02:34 PM PDT Jim Rogers : "Gold has gone up eleven years in a... [[ This is a content summary only. Visit my website http://goldbasics.blogspot.com for full Content ]] 
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| Gold Daily and Silver Weekly Charts Posted: 03 Oct 2012 02:21 PM PDT |
| Charles Gibson Unearths Hidden Mining Gems in Africa Posted: 03 Oct 2012 02:01 PM PDT The Gold Report: We have a scenario where the price of gold has held up and is trading at about $1,775/ounce (oz), but the share prices of large caps aren't comparable. What is the reason behind that? Charles Gibson: Typically, large companies are valued in relation to their margin, the difference between the price they sell gold and the cost at which they mine it. There was a period of margin expansion from about 2009 to 2011 where, by and large, the share prices of big producers did very well. The gold price was rising and costs were under control. In late 2011, however, this dynamic reversed and the gold price started to tail off at the same time as costs began to pick up. Then there was a period of margin contraction. That's what's caused the share prices of the majors to fall. TGR: Would you factor in the general malaise in the stock market? CG: Commodities can dance to a very different tune than the broader economy as a whole and the broader stock market. There's been margi...
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| So, Who's Been Bidding Gold Higher? Posted: 03 Oct 2012 02:01 PM PDT Gold was up, up and away in September. But who was doing the buying? New data we released today here at BullionVault show that private households across Western Europe and the US continue to join the bull market. Read More...
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| Felix Moreno de la Cova: Revisiting 'Gold Wars' by Ferdinand Lips Posted: 03 Oct 2012 01:39 PM PDT 3:51p ET Wednesday, October 3, 2012 Dear Friend of GATA and Gold: "Gold Wars" by the late Ferdinand Lips, the history of Western central banking's struggle to deprive humanity of the best and most democratic money, has just been published in a Spanish edition, and the Spanish economist and trader Felix Moreno de la Cova celebrated it in a recent speech delivered in Madrid. An excerpt from that speech has been put into English and posted at GoldMoney's Internet site. De la Cova says: "'Gold Wars' is the story of the rise of fiat currency and the demise of gold-backed money over the 20th century: from the collapse of the classical gold standard at the outbreak of the First World War in 1914, through the protectionism and trade wars of the 1930s, to the rise of the Bretton Woods system postwar, and the failure of the London Gold Pool and Nixon's 'gold shock' in 1971. He examines the determined monetary war -- or gold war -- the globe's financial elite fought against Switzerland during the 1990s, and how his country was sold out by its politicians and high financiers, a process Lips calls 'the betrayal of Switzerland.' Readers may find it fitting that Lips ends his narrative in 2001, at the point of maximum pessimism in the gold market, but which is now clearly visible as the year in which the metal's latest and perhaps greatest bull market got under way." GATA is cited favorably by Lips in "Gold Wars." De la Cova's remarks are headlined "'Gold Wars' Revisted" and they're posted at GoldMoney here: http://www.goldmoney.com/gold-research/felix-moreno-de-la-cova/gold-wars... CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Opinion Around the World Is Changing When Deutschebank calls gold "good money" and paper "bad money". ... http://www.gata.org/node/11765 When the president of the German central bank, the Bundesbank, pays tribute to gold as "a timeless classic". ... http://www.forbes.com/sites/ralphbenko/2012/09/24/signs-of-the-gold-stan... When a leading member of the policy committee of the People's Bank of China calls the gold standard "an excellent monetary system". ... http://www.forbes.com/sites/ralphbenko/2012/10/01/signs-of-the-gold-stan... When a CNN reporter writes in The China Post that the "gold commission" plank in the 2012 Republican platform will "reverberate around the world". ... http://www.thegoldstandardnow.org/key-blogs/1563-china-post-the-gop-gold... When the Subcommittee on Domestic Monetary Policy of the U.S. House of Representatives twice called on economist, historian, and gold standard advocate Lewis E. Lehrman to testify. ... World opinion is changing in favor of gold. How can you learn why and what it will mean to you? Read the newly updated and expanded edition of Lehrman's book, "The True Gold Standard." Financial journalist James Grant says of "The True Gold Standard": "If you have ever wondered how the world can get from here to there -- from the chaos of depreciating paper to a convertible currency worthy of our children and our grandchildren -- wonder no more. The answer, brilliantly expounded, is between these covers. America has long needed a modern Alexander Hamilton. In Lewis E. Lehrman she has finally found him." To buy a copy of "The True Gold Standard," please visit: http://www.thegoldstandardnow.com/publications/the-true-gold-standard Join GATA here: New Orleans Investment Conference * * * Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006: http://www.goldrush21.com/order.html Or by purchasing a colorful GATA T-shirt: Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009: http://gata.org/node/wallstreetjournal Help keep GATA going GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: To contribute to GATA, please visit: ADVERTISEMENT Fred Goldstein and Tim Murphy open All Pro Gold Longtime GATA supporters Fred Goldstein and Tim Murphy have brought their many years of experience in the precious metals and numismatic coins to All Pro Gold as metals brokers who specialize in the delivery of gold and silver bullion bars and coins as well as numismatic gold and silver coins. Fred and Tim follow these markets closely and are assisted by a team of consultants in monitoring market trends. All Pro Gold offers GATA supporters competitive pricing on all bullion products and welcomes inquiries. Tim can be reached at 602-299-2585 and Tim@allprogold.com, Fred at 602-799-8378 and Fred@allprogold.com. Ask about their ratio strategy and the relationship of generic $20 dollar gold pieces to 1-ounce gold bullion coins. Visit their Internet site at http://www.allprogold.com/.
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| Bill Gross Says Only Gold and Real Assets Will Thrive in Fiscal ‘Ring of Fire’ Posted: 03 Oct 2012 01:37 PM PDT "I'm still waiting for that engineered price decline...and the current COT structure indicates that it is imminent, but this time it might be different." ...
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| What is the Best Way to Inflation-Proof Your Portfolio? Here are the Options and Recommendations Posted: 03 Oct 2012 01:11 PM PDT With investors concerned about inflation*it begs the following questions: “What is the best way*to attempt to inflation-proof*ones’ portfolios? Buy TIPS? Short Treasury bonds? Stocks? Real Estate? Commodities? Gold? Currencies?…[In this article we review each option and come to a conclusion as to how best to hedge the risk of inflation.] Words: 1672 So asks Axel Merk ([url]www.merkfunds.com[/url]) in edited excerpts from his original article* entitledFight the Inflation Boogeyman.* [INDENT]Lorimer Wilson, editor of [B][COLOR=#0000ff]www.munKNEE.com (Your Key to Making Money!) and www.FinancialArticleSummariesToday.com (A site for sore eyes and inquisitive minds) has edited the article below for length and clarity – see Editor's Note at the bottom of the page. This paragraph must be included in any article re-posting to avoid copyright infringement.[/COLOR][/B] [/INDENT]Merk goes on to say, in part: Indeed, gauges of future inflation expectations spiked as the Fede...
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| Posted: 03 Oct 2012 01:11 PM PDT Bill Gross isn’t optimistic about the prospects for the U.S. dollar or U.S. Treasury bonds…Citing annual reports from the International Monetary Fund, the Congressional Budget Office and the Bank of International Settlements, Gross notes that the U.S. is one of the worst debt ‘offenders’ in the world [- within the "Ring of Fire" with the likes of Japan, the U.K., Greece, Spain and France - and, as such, unless] a combination of spending cuts and taxes of $1.6 trillion per year [are undertaken within the next 5 years,] America’s debt/GDP ratio will continue to rise, the Fed will print money to pay for the deficiency, inflation will follow, the dollar will inevitably decline, bonds will be burned to a crisp, and only gold and real assets will thrive. Words: 672 So says Colin Lokey ([url]http://blog.lokeyisstreetsmart.com/[/url]) in his summary analysis* of Bill Gross’ latest investor newsletter*for PIMCO as posted at Seeking Alpha under the title Bill...
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| Gold COT: on the cusp of a short-covering extraveganza? Posted: 03 Oct 2012 01:11 PM PDT Goldmoney
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World's largest commodity market, China's markets witnessed a massive 1.03 billion transactions during the first three quarters of this year.
Deutsche Bank raised its 2013 price outlook for gold by 3 percent to $2,113 per ounce, saying that U.S central bank intervention and provision of further liquidity is unambiguously bullish for the precious metals sector.
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