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- Gold Starts Week Higher, Deal on Fiscal Cliff “Could Be Agreed Within Weeks”
- 4 Gold Miners With Recent Insider Buying
- Balmoral Resources Warrant Exercise Raises $6.5-million
- Snip: $100 Silver
- S7: Silver, QE and The Shadow Banking System
- Money is Far Too Important to Be Left to Politicians
- ‘Falling’ gold demand
- Gold miners facing tough challenges
- The Odds Are High the Bottom Is In
- Alasdair Macleod quoted in City A.M.
- TSA Unionized – Americans Screwed
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- Year End Euro Gold over €1,400/oz – Commerzbank
- Precious Metals Start Week Higher, Holding Gains
- Chinese yuan continuing to strengthen
- Kerala govt studying tax reduction on gold
- India stays above China in gold buys
- Sinclair: ‘Induced’ Inflation Aims for $3,500 Bullion
- Jim Sinclair: ‘Induced’ Inflation Aims for $3,500 Bullion
- GOLD: We Have A Shortage – Eric Sprott
- Michael H. talks with FOFOA
- SKU Philosophy: Invest in Gold, Invest in Silver
- Gold and Silver Market morning, November 19, 2012
- Gold & Silver – Will Real Ratio Please Step Forward?
- Understanding Asian Gold Demand
- Bruce Pile: Basel III and gold
| Gold Starts Week Higher, Deal on Fiscal Cliff “Could Be Agreed Within Weeks” Posted: 19 Nov 2012 12:39 PM PST Gold Starts Week Higher, Deal on Fiscal Cliff "Could Be Agreed Within Weeks" SPOT MARKET gold bullion prices hovered close to $1725 an ounce during this morning's London trading, holding gains made overnight in Asia, as stocks and commodities also recovered some ground lost last week, after news that a deal may be achieved in time to avoid so-called fiscal cliff of US tax rises and spending cuts currently scheduled for the start of 2013. Silver bullion rallied back above $32.70 an ounce, recovering Friday's losses, while US Treasury bond prices fell along with the Dollar. "[Silver] is still respecting its long term uptrend, [but] momentum has been very uninspiring," says the latest technical analysis from bullion bank Scotiabank. Congressional leaders and the White House should be able to agree a deal to avoid the fiscal cliff "within several weeks", US Treasury Secretary Timothy Geithner said Friday. Negotiations last week produced agreement that reforms are needed to the US tax code and to so-called 'entitlement' programs, press reports say. "If the parties in the US reach agreement, that would remove uncertainty and gold's safe haven status," reckons Ole Hansen, head of commodity strategy at Saxo Bank. "But the low interest rate environment is not going to go away." The so-called speculative net long position of Comex gold futures and options traders – measured as the difference between 'bullish' and 'bearish' contracts – rose in the week ended last Tuesday, having fallen for the previous four weeks running, weekly data published Friday by the Commodity Futures Trading Commission show. "The positive reaction apparent in these numbers was largely due to the successful re-election of President Obama," says Marc Ground, commodities strategist at Standard Bank. "Participants were emboldened by the belief that an Obama win would ensure that the Fed will continue with its accommodative stance. Strong physical demand also helped sustain the upward momentum." The volume of gold bullion held by exchange traded funds tracked by Reuters rose to a new record last Friday, at just under 2346 tonnes. Holdings in the world's largest gold ETF SPDR Gold Shares (GLD) also rose to a new all-time high, ending last week at 1342.6 tonnes. Net speculative length among silver futures traders also rose last week, like gold breaking a four-week losing run. "However, the 116.5 tonne increase of the past week appeared even more insipid than was the case for gold," says Standard Bank's Ground, "given that silver has seen 1,287.3 tonnes liquidated the previous four weeks." For commodities as a whole, Friday's CFTC data show a six straight decline in net long positioning among managed money, the longest run of weekly falls since 2008, Bloomberg reports. "I am not bullish on commodities," says Martin Murenbeeld, chief economist at Canadian wealth management firm DundeeWealth. "I don't think we are going to see improvement in the world economy for some time as there are too many problems." On the currency markets the Euro rallied against the Dollar, making up most of the ground it lost last Friday. The Yen meantime fell to its lowest level against the Dollar in seven months this morning, ahead of tomorrow's Bank of Japan interest rate decision, following the decision by Japan's prime minister Friday to call a general election for December 16. The leader of the opposition Liberal Democrat Party, which is ahead in the polls, has called for the BoJ to print "unlimited Yen" and set interest rates below zero if necessary. "Continued talk and questions over potential changes for the BoJ has weighed on the Yen," says Audrey Childe-Freeman, head of foreign exchange strategy at BMO Capital Markets. "It's most unlikely the BoJ will make major changes this meeting, but the trend seems to be changing." Over in Europe, Bundesbank president Jens Weidmann told an audience at Euro Finance Week in Frankfurt that giving the European Central Bank supervisory powers over financial institutions could create a conflict of interest with monetary policy. "Both areas must therefore be strictly separated," said Weidmann. "This separation is doable, but difficult – difficult from an organizational viewpoint and difficult from a legal viewpoint." 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. Ben writes and presents BullionVault's weekly gold market summary on YouTube and can be found on Google+ (c) BullionVault 2012 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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| 4 Gold Miners With Recent Insider Buying Posted: 19 Nov 2012 11:43 AM PST By Markus Aarnio: Gold prices have made their highest monthly gains during the winter months (November - February) and the slowest growth have occurred in the Spring/Summer months (March - August) since 2002. Based on this observation I screened for gold mining companies with insider buying during the month of November. Here is a look at four companies that I found. 1. IAMGOLD (IAG) is a leading mid-tier gold mining company producing approximately one million ounces annually from five gold mines (including current joint ventures) on three continents. In the Canadian province of Québec, the company also operates Niobec Inc., which produces more than 4.5 million kilograms of niobium annually, and owns a rare earth element resource close to its niobium mine. IAMGOLD is uniquely positioned with a strong financial position and extensive management and operational expertise. To grow from this strong base, IAMGOLD has a pipeline of development and exploration projects and Complete Story » |
| Balmoral Resources Warrant Exercise Raises $6.5-million Posted: 19 Nov 2012 11:27 AM PST VANCOUVER, BRITISH COLUMBIA–(Marketwire – Nov. 16, 2012) - Balmoral Resources Ltd. (TSX VENTURE:BAR)(OTCQX:BALMF) ("Balmoral" or the "Company") reported today that the Company received a total of $6,578,655.80 from the exercise of share purchase warrants which expired on November 9, 2012. Of the total above, $5,067,916.94 has been received by the Company since September 21, 2012. The warrants in question were issued as part of Balmoral's initial financing completed in November of 2010. With receipts from the warrant exercises, as at November 16, 2012, Balmoral has working capital of $19 million, which includes $14.6 million in cash. The Company has 84,507,289 shares issued and outstanding and, on a fully diluted basis, would have 88,700,289 shares issued. "Balmoral is now in a stronger financial position than it has been at any time during its brief history," said Darin Wagner, President and CEO. "Our cash on hand will allow us to continue aggressive expansion of our high-grade gold discoveries at Martiniere, and exploration throughout our district scale land holdings along the Detour Gold Trend in Quebec, through 2013. We thank those investors who demonstrated their support by exercising their warrants despite what are clearly challenging market conditions." About Balmoral Resources Ltd. – www.balmoralresources.com Balmoral is a Vancouver-based precious metal exploration and development company focused on district scale gold opportunities in North America. With a philosophy of creating value through the drill bit and with a focus on proven productive precious metal belts, Balmoral is following an established formula with a goal of maximizing shareholder value through discovery. On behalf of the board of directors of BALMORAL RESOURCES LTD. Darin Wagner, President and CEO This press release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and United States securities laws. All statements, other than statements of historical fact, included herein, including statements regarding the anticipated content, commencement, duration and cost of exploration programs, anticipated exploration program results, the discovery and delineation of mineral deposits/resources/reserves, the timing of the receipt of assay results, and business and financing plans and trends, are forward-looking statements. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions or are those which, by their nature, refer to future events. Although the Company believes that such statements are reasonable, there can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future performance, and that actual results may differ materially from those in forward-looking statements. Important factors that could cause actual events and results to differ materially from the Company's expectations include those related to weather, equipment and staff availability; performance of third parties; risks related to the exploration stage of the Company's projects; market fluctuations in prices for securities of exploration stage companies and in commodity prices; and uncertainties about the availability of additional financing; risks related to the Company's ability to identify one or more economic deposits on the properties, and variations in the nature, quality and quantity of any mineral deposits that may be located on the properties; risks related to the Company's ability to obtain any necessary permits, consents or authorizations required for its activities on the properties; and risks related to the Company's ability to produce minerals from the properties successfully or profitably. Trading in the securities of the Company should be considered highly speculative. All of the Company's public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the latest technical reports filed with respect to the Company's mineral properties. This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release. Balmoral Resources Ltd.
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| Posted: 19 Nov 2012 11:19 AM PST |
| S7: Silver, QE and The Shadow Banking System Posted: 19 Nov 2012 11:14 AM PST Silver, QE & the Shadow Banking System. The Shadow Banking System is the Achilles heel to the entire fiat monetary system. It is mainly being held up by QE, which is having less & less effect. Larger amounts of QE are have little effect on productivity because the cash is being held on the balance sheets of the large banks. from syyenergy7: ~TVR |
| Money is Far Too Important to Be Left to Politicians Posted: 19 Nov 2012 11:00 AM PST If proof that gold is money was ever needed then this is it. Four countries, each with significant financial problems caused by the spend-easy qualities that come with fiat money, see their citizens turning to gold. |
| Posted: 19 Nov 2012 09:15 AM PST November 19, 2012 An article in The Wall Street Journal a few days ago caught my attention. It reported: andldquo;Gold prices dropped on signs that demand for the precious metal is sagging. |
| Gold miners facing tough challenges Posted: 19 Nov 2012 08:15 AM PST A new report from the world's largest gold producer Barrick Gold provides yet another illustration of the problems facing gold mining companies. In South Africa, extraction of gold from depths of ... |
| The Odds Are High the Bottom Is In Posted: 19 Nov 2012 07:26 AM PST Today should be the opportunity to get on board what is likely to be a significant rally over the next three weeks and probably a move to new highs over the next 2-3 months. However I think the really big money will be made in mining stocks as gold should... |
| Alasdair Macleod quoted in City A.M. Posted: 19 Nov 2012 07:17 AM PST Alasdair Macleod quoted in City A.M. article on gold |
| TSA Unionized – Americans Screwed Posted: 19 Nov 2012 07:16 AM PST FreedomOutpost_Masthead.jpg TSA Unionized – Americans Screwed (link) How are those airport grope downs, naked body scanners, thefts and humiliation working out for ya at your local airport? Well, now you can not only feel safer when you fly, but you have the comfort of knowing that those "security professionals" of the Transportation Security Administration are federalized, but now they are also unionized. On November 9, 2012 the American Federation of Government Employees (AFGE) issued a press release indicating that "Workers at the Transportation Security Administration made history today when they voted to ratify the first-ever collective bargaining agreement at the agency. The agreement between the American Federation of Government Employees and TSA was ratified with a vote of 17,326-1,774." The AFGE represents over 650,000 employees of the federal government. It is the largest union for non-postal federal employees and the largest union for D.C. workers who report directly to the mayor. TSA-Nazi-Logo2-220x220.jpg Brian Koenig writes that the AFGE "coerces members to fork over between $14 and $16 out of each paycheck, providing the organization with up to $16 million more in revenue per year. Portions of this influx of money will go to subsidizing Democratic election campaigns and funding a number of liberal agendas." Koenig went on to claim that the "union doled out $2 million on lobbying to the government largely to guarantee that federal employees get paid more to work less." The Washington Times reported on the contract: Under the new TSA contract, employees will win annual leave based not on their performance, but how long they've held on to the job. They'll also be able to wear shorts when it's hot, with the tab for the new wardrobe picked up by the taxpayers. House Transportation Committee Chairman John L. Mica, Florida Republican, blasted the deal for focusing on "tie tacks and tattoos" instead of issues that actually matter. Those tie tacks can't exceed 1/2-inch in diameter and must be gold or silver in color. Tattoos must be covered by a sports sleeve or band that does not detract from the uniform. TSA must also provide office space for designated TSA union officials to work on union business at taxpayer expense. The Washington Post reports,In early 2011, TSA administrator John S. Pistole decided to allow bargaining, although over a more limited range of topics than those allowable for other federal employees eligible for union representation. AFGE meanwhile defeated NTEU for the right to represent a national bargaining unit of more than 40,000 workers. With all of this being said, it has been demonstrated over and over just how ineffective the TSA is and how it is constantly infiltrated by illegals, thieves, and perverts. We have witnessed a waste of over $18 billion worth of "X-rated" body scanners with potentially harmful radiation effects upon people, invasion of privacy, and violations of the Fourth Amendment. But has the federal government addressed any of these concerns? No. Instead they are more concerned with making sure to continue a wasteful, unconstitutional program, unionize it, and funnel money into the coffers of lawmakers in order to re-elect Democrats and Republicans who support this nonsense, while at the same time making those unions very rich. In the end, it's the American citizen that gets screwed.In addition to revising the performance pay system, the three-year contract sets policies in areas including scheduling of shifts and vacation time, uniform allowances and dress codes. "The completion of today's agreement between TSA and AFGE is a milestone in our relationship with our workforce and AFGE," Pistole said in a statement. "Together, we will continue to secure our nation's transportation systems and keep the traveling public safe." After over a decade of struggling for basic workplace rights, transportation security officers were finally given the opportunity to vote on a contract that ensures that their voice will be heard in the workplace. This contract will improve both morale and workplace conditions," said Rep. Bennie G. Thompson (Miss.), ranking Democrat on the House Homeland Security Committee. |
| Posted: 19 Nov 2012 05:50 AM PST    |
| Year End Euro Gold over €1,400/oz – Commerzbank Posted: 19 Nov 2012 05:30 AM PST Gold rose on Monday as the dollar fell and oil prices rose as the Israeli Palestinian conflict escalates and the US fiscal cliff discussions support the yellow metal. Gold ETF funds climbed to a record high of 75.421 million ounces on Nov. 16. |
| Precious Metals Start Week Higher, Holding Gains Posted: 19 Nov 2012 05:08 AM PST Spot market gold bullion prices hovered close to $1,725 an ounce during this morning's London trading, holding gains made overnight in Asia, as stocks and commodities also recovered some ground lost last week. |
| Chinese yuan continuing to strengthen Posted: 19 Nov 2012 04:15 AM PST Precious metals have had a decent start to the week, following last Friday's selloff. Gold has managed to put some distance between itself and $1,700, while silver is managing consistent time ... |
| Kerala govt studying tax reduction on gold Posted: 19 Nov 2012 03:51 AM PST |
| India stays above China in gold buys Posted: 19 Nov 2012 03:45 AM PST |
| Sinclair: ‘Induced’ Inflation Aims for $3,500 Bullion Posted: 19 Nov 2012 03:37 AM PST "Mr. Gold" tells investors not to worry about the day-to-day gyrations of the gold price. Jim Sinclair says that they should instead be focused on what he sees as inevitable and coming next: "currency induced cost push inflation." |
| Jim Sinclair: ‘Induced’ Inflation Aims for $3,500 Bullion Posted: 19 Nov 2012 03:37 AM PST "Mr. Gold" tells investors not to worry about the day-to-day gyrations of the gold price. Jim Sinclair says that they should instead be focused on what he sees as inevitable and coming next: "currency induced cost push inflation." |
| GOLD: We Have A Shortage – Eric Sprott Posted: 19 Nov 2012 03:06 AM PST Eric Sprott's analysis shows a "flat supply" and at least a "2,500 ton net increase in gold demand" since 2000. He manages nearly $10 billion at Sprott Asset Management. from usawatchdog: "Where's all the gold coming from?" asks Sprott. He says Western central banks ". . . keep supplying this market with product in order to keep the price down so nobody knows how vulnerable the situation is." Sprott boldly proclaims, "We have a shortage of gold." Join Greg Hunter as he goes One-on-One with Eric Sprott. ~TVR |
| Posted: 19 Nov 2012 03:01 AM PST |
| SKU Philosophy: Invest in Gold, Invest in Silver Posted: 19 Nov 2012 03:00 AM PST At SmartKnowledgeU, we believe it is better to build a better mousetrap in the financial services world devoid of deceit and criminality and one that operates with integrity and honor. Expanding on this topic is our earlier video "If Happiness Were a Global Currency" at the link here: http://www.youtube.com/watch?v=qjMVLOljliQ from smartknowledgeu: ~TVR |
| Gold and Silver Market morning, November 19, 2012 Posted: 19 Nov 2012 03:00 AM PST |
| Gold & Silver – Will Real Ratio Please Step Forward? Posted: 19 Nov 2012 01:49 AM PST Those attracted to the precious metals markets are often curious about the various ratios existing between gold and silver, as well as what these ratios might reveal about the relative fair values of these key investment metals. |
| Understanding Asian Gold Demand Posted: 19 Nov 2012 12:28 AM PST Don't dismiss India's love of gold as just tradition. Indians in their investment choices have shown considerably greater wisdom than most of their Western counterparts. And it is not just Indians. |
| Bruce Pile: Basel III and gold Posted: 18 Nov 2012 11:39 PM PST |
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