Gold World News Flash

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• What Happened to Ukraine's Gold?
• Crimean Referendum Pivotal For Gold, Copper Close To Bottom
• Bearish Banks Help Fuel Gold’s Meteoric Run
• Gold Daily and Silver Weekly Charts – Killing Fields
• All You Need to Know About Ukraine
• Gold Market Set For Stunning $550 Surge & 46% Spike In Silver
• Gold Shines, But GoldMoney Customers Favour Silver
• Here come the wage and price controls
• Here's Why The Market Is Shrugging At TBE's "Promise" Not To Default In July
• Complete Breakdown Of Financial Controls In US Government, Says Austin Fitts
• Is This The Cheapest (And Most Levered) Way To Play The Chinese Credit-Commodity Crunch?
• "It's The Weather's Fault"
• Guest Post: What Is Happening With Gold In India?
• Latest On Russia, China, Germany, France, Gold & Ukraine
• Gold Price Needs to Clear $1,375, Looks Very Strong
• Gold Price Needs to Clear $1,375, Looks Very Strong
• Russia Touches U.S. Achilles Heel: Petrogold instead of Petrodollar
• Dollar Weakness Is Providing Strong Support In Gold Market
• Jim Rickards: Our Monetary System Is Instable and It Will Collapse
• Price of Gold: 3 Key Drivers
• Price of Gold: 3 Key Drivers
• Investor-Friendly Junior Mining
• Investor-Friendly Junior Mining
• Gold Daily and Silver Weekly Charts - Killing Fields
• Gold Daily and Silver Weekly Charts - Killing Fields
• Jim’s Mailbox
• The Dollar and Gold
• Currency war is intensifying and will be highly inflationary, Ing tells KWN
• Breakout in Gold Price and Gold Mining Stocks!
• The Chinese Are Making Major Moves In The Gold Market
• Stockman – Terrifying Financial & Economic Volcano & Ukraine
• Is The Global Economy Seriously Beginning To Roll Over?
• Gold Prices Slip $10 from New 6-Month High at "Upper Channel Limit", Futures Markets Adds Fresh "Frothiness"
• Gold Is Seasonal: When Is the Best Month to Buy?
• How ETFs Havent Altered The Dynamics Of Gold
• The Silver Storage Myth
• How to Profit Now from Canada's Overlooked Tech Market
• Quarterly times series on World Official Gold Reserves since 2000
• Changes in World Gold Official Reserves
• Latest sales under the third Central Bank Gold Agreement (CBGA3)
• Latest World Official Gold Reserves
• ECONOMIC COLLAPSE 2014 -- Is The Devaluation Of The Dollar Unavoidable?
• David Stockman - We Will See A Massive Selling Panic In Stocks
• The Gold Price Busted Through the Ceiling Stop Waiting and Buy
• The Gold Price Busted Through the Ceiling Stop Waiting and Buy
• McEwen acknowledges central bank intervention against gold, cites GATA
• The case for gold right now
• What does Ukraine mean for the gold price?
• Pepe Escobar -- Ukraine , What is the big picture today?
• Mike Rivero -- All Wars are Bankers Wars & Russia will drop The US Dollar

What Happened to Ukraine's Gold? Posted: 14 Mar 2014 01:01 AM PDT Why bankers want control of Ukraine, part 2 and how bankers are fooling Ukrainians into enslaving themselves for future generations. We discuss the bailout of EU banks disguised as a "bailout" of Ukranian people, the close alliances between Rothschild banking organizations like the IMF and the... [[ This is a content summary only. Visit http://www.GoldSilverNewsBlog.com or http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]

Crimean Referendum Pivotal For Gold, Copper Close To Bottom Posted: 14 Mar 2014 01:00 AM PDT from KitcoNews:

Bearish Banks Help Fuel Gold’s Meteoric Run Posted: 14 Mar 2014 12:38 AM PDT Just when you thought the last of the big institutional banks were ready to throw in the towel on their bearish metal forecasts, yet another one has joined the ranks of the gold bears. Morgan Stanley was the latest to enter the fray on Monday when it lowered its gold price forecast for 2014 and 2015 in a research report. The group based its lower forecast on the expected impact of reduced monetary stimulus combined with increased regulatory pressure on investment banks to reduce the scale of proprietary commodities trading.

Gold Daily and Silver Weekly Charts – Killing Fields Posted: 14 Mar 2014 12:30 AM PDT from Jesse's Café Américain: Imagine a case in which markets offer very profitable opportunities to wealthy and well-connected participants. Let’s call them insiders. And let’s assume that the government does little in the way of effective regulation, except for the occasional small fry or relative outsider who is caught breaking the rules. Imagine that the insiders either directly or indirectly control the rule based governance of the exchanges, which are often supposed to be self-regulating in those areas in which the government is not able to exert the rule of law. Read More @ Jessescrossroadscafe.blogspot.ca

All You Need to Know About Ukraine Posted: 13 Mar 2014 09:18 PM PDT By: Chris Tell A politician is a material incarnation of the absolute worst of human nature. Look around you, it's self-evident. Basic human nature is to survive. Once that is accomplished and we become comfortable, extremes in behaviour can develop. If you're a typical politician those extremes normally manifest as unchecked ego and unbridled power. A bad combination! Putin is many things, but stupid isn't one of them. Yes he is dangerous, yes he is power hungry, but show me a politician that is not. Again, politics is where the worst of human nature congregates, like flies to shit. Russian Pipeline network in Ukraine Take a look at the map above. It tells you all you need to know about why Ukraine is in the cross-hairs of the world's super powers. It is about the Russian pipeline network that feeds Europe, plain and simple. Ukraine is, as you can see, a pretty damn important piece in the Russian energy distribution network. This has nothing to do with Russians in Ukraine. "Brother Vlad" would gun those "countrymen" down in a heartbeat if they threatened his pipelines. He'd then return to his morning tea without a second thought. "Pass the toast Alina." Oh, and unless you have been drinking the western media Kool Aid, the Brits and Yanks would do the same. This isn't a cultural issue, it's a matter of ECONOMICS, POWER AND POLITICS. The 64 million dollar question now is how far will the delusional, intellectually bankrupt "gentlemen" that inhabits the White House push this with Putin..? Obama's foreign policy is a joke. The decisions coming out of this administration are nothing short of BRAIN DEAD. Imposing sanctions on Russia only serves to push Putin into a corner. If he backs down now he loses credibility, which means he can't, as it would be political suicide. I cannot fathom what the Obama administration thought they would get out of imposing sanctions, other than further alienating the Russians and endangering millions upon millions of people in the region. Did they really think Putin would roll over and say "Sorry gee, you know what you're right."? Did they really think that the Europeans, who by the way Russia has by the balls (via control over the flow of natural gas), would see it in their best interests to follow the US and antagonize the hand that feeds them? Did they really think that China would back them up on this one? The US's "allies" and "friends" have not suddenly and mysteriously disappeared. This is the real price of the NSA spying. The US has the world's largest , most sophisticated military. Spending on its military ($683.7B) alone is greater than the entire GDP of Afghanistan ($33.7B), where they have been unable to suppress the restless locals. Antagonizing China and Russia is a dangerous game. One misstep and we could have WWIII on our hands, which would be most unfortunate. - Chris "If one looks at the map of the world, it's difficult to find Iraq, and one would think it rather easy to subdue such a small country." - Vladimir Putin

Gold Market Set For Stunning $550 Surge & 46% Spike In Silver Posted: 13 Mar 2014 09:01 PM PDT On the heels of another surge in gold and silver, today top Citi analyst Tom Fitzpatrick sent King World News two incredibly important charts which show that gold may now be set up for a stunning $550 surge and silver for a massive 46% spike. Below are the key gold and silver charts that all KWN readers around the world need to see, along with Fitzpatrick's comments. This posting includes an audio/video/photo media file: Download Now

Gold Shines, But GoldMoney Customers Favour Silver Posted: 13 Mar 2014 08:20 PM PDT by Roland Khounlivong, Gold Money: Gold’s safe haven status boosted its price this week, as the situation in Ukraine, and continued economic uncertainty, supported the metal up 1.8% on the week. Whilst the safe haven factor is driving the general market, for GoldMoney customers it has been a different story. Head of Dealing at the online precious metals trader, Roland Khounlivong, said: ‘Our customers buy gold for portfolio diversification, so this week as the yellow metal has risen they’ve been hesitating, waiting to see whether to profit-take or increase their exposure to gold. This has been reflected in a fall of 40% in our gross trading volumes on the previous week. Read More @ GoldMoney.com

Here come the wage and price controls Posted: 13 Mar 2014 07:40 PM PDT from Sovereign Man: Nearly four thousand years ago, King Hammurabi of Babylon laid out his eponymous "Hammurabi's Code", a series of laws that is still famous to this day. Most people know Hammurabi's Code as "an eye for an eye, a tooth for a tooth". Yet what few realize is that the code was actually one of the original attempts at government wage and price controls. Hammurabi's Code decreed, for example, that the daily rate of pay for a tailor would be five grains of silver, and a farm laborer would be six grains of silver. The cost of hiring a small animal for field work would be four bushels of corn. Etc. Of course, Hammurabi's attempts to control prices didn't work one bit. Read More @ SovereignMan.com

Here's Why The Market Is Shrugging At TBE's "Promise" Not To Default In July Posted: 13 Mar 2014 06:48 PM PDT The "good" news this evening is that Baoding Tianwei Baobian Electric Co (TBE), the company which as recently as two days ago was rumored to be the second "imminent" Chinese corporate bond default which sent copper to multi year lows, has issued a statement that it will not default on its upcoming interest payment (due July 11th - so how the delisted company is convinced it will have enough cash four months from now is a mustery). The "bad" news is that markets don't care. There is a slight whiff of positivity in Copper futures but aside from that, weakness continues in China's corporate bond and stock market. Simply put, the market gets it - this is no longer about the next idiosyncratic bond (or trust) to default; this is about Xi's renewed confidence in efforts to 'clean up' the mounting local government and corporate debts and shrink the shadow-banking bubble. This is systemic, and the markets know it. Hooray... *BAODING TIANWEI SAYS CO. TO PAY BOND INTEREST ON TIME Copper was excited momentarily... TBE statement: (link) Co. will pay bond interest for due July 2014 on time, according to a statement to the Shanghai stock exchange. So to be clear, TBE is promising that in 4 months it will pay interest on a bond that it currently has zero liquiidty to pay, is losing money, and is in an industry that the government has specifically targeted for 'normalization'... BofA explains why is it not a big piece of news in China? To the Mainland China media, the delisting of TBE bonds is not a big piece of news, in our view, because TBE was already in a law suit on its other debt, and the “new energy” sector has been in deep trouble anyway (as we have seen with Wuxi Suntech and Chaori). TBE is in the business of making power transmission equipment, but in recent years has heavily invested in the ill-fated new energy sector which has resulted in two straight years of losses with the losses in 2013 surging to RMB5.2bn. TBE’s Shanghai Stock Exchange listed bond was issued in 2011, with principal at RMB1.6bn, a 5.75% yield and 7-year tenor. TBE’s stock price has already fallen by 15% this year. TBE’s controlling shareholder is Tianwei Group, which is a central-government owned company.   We do see a significant rise in bond and trust loan defaults We believe the chance of corporate bond and trust loan defaults will rise significantly in 2014 as a more confident President Xi Jinping and Premier Li Keqiang will aim to seriously clean up mounting local government and corporate debts. As Li himself noted, Though Mr Li said that he could not possibly "want to see" defaults in financial products, he added that "sometimes certain individual cases of such defaults are hardly avoidable". As a gentle reminder (from our very detailed coverage of the China bubble about to burst), the bubble is gigantic (as Marc Faber would say) and there are many more debt maturities coming up...   From November 2012, The Chinese Credit Bubble - Full Frontal:     Everyone should also know that like a metastatic cancer, the amount of non-performing, bad loans within the Chinese financial system is growing at an exponential pace.   Finally, what everyone learned over the past month, is that as the two massive, and unresolvable forces, come to a head, the first cracks in the facade are starting to appear as first one then another shadow-banking Trust product failed and had to be bailed out in the last minute. However, as we showed again last week, the default party in China is only just beginning as Trust failures in the coming months are set to accelerate at a breakneck pace. So as Moody's noted: Analysts see more such defaults in the coming months in sectors with overcapacity, such as steel and mining, as crackdowns on careless loans continue. "The lack of intervention is consistent with the central Chinese government's adoption of more market-oriented policies, which include increased tolerance for corporate bond defaults, as it reforms the country's financial markets," Moody's said in a commentary after the default. In conclusion, one default here or there now is no longer relevant as the first crack in the damn has been made. Risk will be re-priced... confidence has been broken that money is free and 10% yields are riskless... finally, as we previously noted in great detail, here are the next steps... The question, however, in addition to "why", is whether the Fed also agrees with BofA's stunningly frank, and quite disturbing conclusion, perhaps finally realizing that aside from the US, the biggest house of cards that would topple once the "flow"-free emperor is exposed in his nudity, is that of the world's largest "growth" (and credit) dynamo of the past two decades - China. Because, as noted above, if Lehman's collapse was bad, a deflationary collapse brought on by Chinese hard landing coupled with a full unwind of the global carry trade, would be disastrous and send the world into a depression the likes of which have never before been seen. Finally, for those who want the blow by blow, here is BofA's tentative take of what the preliminary steps of the next global great depression will look like: If we do experience a sizable default, the knee-jerk market reaction will be cash hoarding since it will strike as a big surprise. Thus, we expect the repo rate to rise first, while the long term government bond would get bid due to risk aversion flows.   However, what follows will be quite uncertain, aside from PBoC injecting liquidity and easing monetary policy to help short term rate come down. It has been proven again and again the Chinese government will get involved and be proactive. The bond market reaction will be different depending on the government solution. Alas, at that point, not even the world's largest bazooka will be enough. At this point one should conclude that reality - through massive, unprecedented liquidity injections - has been deferred long enough. It is time to let the markets finally return to some semblance of uncentrally-planned normalcy: there is a reason why nature abhors a vacuum. Even if it means the eruption of the very painful grand reset, washing away decades of capital misallocation, lies and ill-gotten wealth, so very overdue.

Complete Breakdown Of Financial Controls In US Government, Says Austin Fitts Posted: 13 Mar 2014 06:33 PM PDT Submitted by Casey Research's Sound Money blog, Complete Breakdown of Financial Controls in US Government, Says Austin Fitts Former HUD Assistant Housing Secretary and investment advisor Catherine Austin Fitts reveals her thoughts on the ever-rising debt ceiling… what Obamacare is really about (and that’s not socialized healthcare)… why over $4 trillion missing from federal programs may not be incompetence, but a covert strategy… how to protect yourself from the constant devaluation of the US dollar… and what exactly the Popsicle Index measures and why it matters. Here are a few excerpts: “I don’t see Obamacare as something designed to offer healthcare. … I think the question comes down to a bigger one, which is, are we going to create a society where one hundred percent of everything is digitized and under central control?”   “Who is the governance system, and why are they behaving the way they are behaving? What we see is literally a psychopathic effort and intensity—whether it is in the energy area, whether it is in the currency area, whether it is in the food area, whether it is in the healthcare area—to get 100% central control and to use digital means to do it, and the question is why?”   “Well, you have a complete breakdown of internal financial controls in the US government. … You had over $4 trillion of what is called undocumentable adjustments and to this day, [these agencies] have never, as required by law, produced audited financial statements.”   “In my experience, government is not incompetent at all. … Gridlock is a cover story, incompetence is a cover story. There is a plan, you just can’t see what it is.” The article Complete Breakdown of Financial Controls in US Government, Says Austin Fitts was originally published at caseyresearch.com. Full podcast audio below:

Is This The Cheapest (And Most Levered) Way To Play The Chinese Credit-Commodity Crunch? Posted: 13 Mar 2014 06:02 PM PDT "The best way to define the mood in the market right now is panic," warns one commodity broker, adding that "everyone understands why we are going down, but nobody can tell where the bottom is." As the WSJ notes, the economic slowdown in China is hammering prices of some raw materials, driving down industrial commodities from copper to iron ore and coal - exacerbated by the vicious cycle of credit-collateral-contraction. So what is the cheapest way to play continued stress (with potentially limited downside)? The diversified natural resources company Glencore has a huge $55 billion of debt, is drastically sensitive to copper (and other commodity) prices, and its CDS remains just off record tights... Is Glencore the most exposed to a decline in commodities prices? – A trading giant rated BBB with over $55bn of debt and heavy exposure to commodities.  A downgrade to below investment grade would be catastrophic to Glencore’s trading business.  Company’s 12/31/2013 presentation says a 10% decline in Copper Prices would reduce EBIT By $1.2bn... As of 12/31/13, Glencore had $55.185 billion in Gross Debt By 3/12/2014, Copper has declined to a 44 month low, 12% decline in YTD 2014 Glencore reports Net Debt of $35.882bn, which is $55.2bn of gross debt minus $2bn of cash minus $16.4bn of "Readily Marketable Inventories." Nowhere do they define what’s included in the Readily Marketable Inventories and whether or not the RMIs are hedged.  The firm is still highly levered for investment grade even if RMIs can be converted into cash at stated value. As if that was not enough, the CFTC and DOJ are currently investigating commodities price manipulation and Glencore has been named in several aluminum antitrust suits; leaving the question of liability hanging over their head. Via WSJ, “The economic slowdown in China is hammering prices of some raw materials, driving down industrial commodities from copper to iron ore and coal   ...   copper prices skidded to their lowest level since June 2010, bringing the metal's year-to-date losses to 12%. Iron-ore prices are down 8.1% this week, after falling to their lowest level since October 2012 on Monday. Aluminum, lead and zinc prices also have declined in recent days   ...   "The best way to define the mood in the market right now is panic,"   ...   Now that growth in the world's second-largest economy is downshifting from double digits to an estimated 7.5% this year, many investors and analysts predict global demand growth for industrial commodities will slacken...Iron ore is the main component of steel. China's steel consumption has surged in the past decade as the property and manufacturing sectors boomed. Now that China's leadership has pledged for a more consumer-focused economy, the demand trajectory for steel is in doubt, analysts said…Coking coal, used to fuel the blast furnaces that forge steel, has also been under pressure, with prices down 7.1% this year…   Last week's first-ever corporate-bond default on the mainland showed that the Chinese government isn't guaranteeing this corner of the country's credit market, as was widely believed. The yuan's weakening has made it more expensive for companies to import dollar-denominated commodities to be used as collateral for loans created outside formal channels for bank lending   ...   "If there's a string of defaults in China, there's no question that demand for copper and iron ore and other commodities where China's been a major driver would be threatened in a material way,"   ...   And some analysts and investors say the magnitude of the recent price declines in copper and iron ore aren't justified because Chinese authorities are unlikely to allow the country's credit markets to completely unravel…"You've got the credit issue in China...and you've got also reasonably high iron-ore [stockpiles]," said Jimmy Wilson, for iron ore at BHP Billiton, on the sidelines of a conference in Perth, Australia. "Traders have a view that the price is going to go down so they do everything they can to hold back" on buying.” At 170bps and with 155bps as a floor for the last 6 months, it seems like a cheap protection play on further Chinese/Commodity contraction   h/t Manal

"It's The Weather's Fault" Posted: 13 Mar 2014 05:13 PM PDT ...but the second half of the year is going to be great... (or 3rd or 4th)   h/t @Not_Jim_Cramer   Of course, even if one believes that the weather is responsible for this - how worried should we be when cold weather in winter removes over 30% of the growth in US GDP!! Sustainable recovery or fragile and painful truth?   Oh and for some context on this collapse in the US, here is Russia - and everyone is up in arms how bad this has been...   Charts: Bloomberg

Guest Post: What Is Happening With Gold In India? Posted: 13 Mar 2014 04:54 PM PDT Submitted by Jayant Bhandari, Indian government has imposed a duty of ~11.3% on gold imports. Additionally, they have created bureaucratic complexities, including a requirement from gold importers to export 20% of their imports. The government claims that this has resulted in a serious drop in imports, something they wanted, given consistently high, unsustainable current-account deficits. As I write this, international spot price of gold is $1,300 per ounce. In India, however, it is trading at a premium of 18%, at a price of $1,534. One might ask who is pocketing this premium. Has import really come to a stand-still? Let me explain the ground realities. Recently, I arrived in the Indian city of Chennai from Singapore. My bag was missing, which had nothing of commercial value—just my clothes. The airline had me fill out a missing-bag form. When I went to a custom official to get the document signed, he asked me to pay a custom duty on the claimed value of my clothes. He didn’t want to understand that the fact that my bag did not arrive made no difference to whether they were dutiable or not. Every Indian public servant I have ever met creates a situation to ask for a bribe. The result is that there are all sorts of leakages in any regulatory enforcement. Indeed, most regulations exist for the sole purpose of creating justifications for them to ask for bribes. Before the 90s, import of gold was heavily regulated and carried massive custom duty. Of course, those days most gold arrived in India through smuggling. A big mafia had built up in Mumbai and Dubai, mostly catering to India’s gold demand. Two things happened as a result: Government lost all prospects of earning revenue from gold imports, and most importantly, smugglers ran a ruthless empire in several Indian cities, particularly in Mumbai, controlling human-trafficking (with horrible consequences for poor girls and children), and financing the real-estate and the film industries. They were the unofficial rulers of Mumbai. When restrictions on gold were eased in early 90s under pressure from IMF, the same smugglers took the shape of what got to be known as terrorists. (All this should not sound strange to those who understand the history of prohibition in the US). The current restriction and heavy custom duty on gold will repeat the consequences of the era before the 90s. But really in an irrational world where rhetoric has more value, who cares about the real consequences? Indeed, based on my many conversations with traders, all gold that India needs is already coming through smuggling. And smugglers want restrictions on gold imports to stay in place—they haven’t had it this easy for a long time. Indian government’s restrictions on gold will ultimately—after a gestation period—have only a minor impact on the price. Indeed gold will eventually trade in the Indian market for less than the official landed cost, for smugglers don’t have to pay the hefty custom duty. My guess is that gold will eventually trade at a premium of ~5% over the international price, having already fallen from 24% when the restrictions were imposed to the current 18%. Government will indeed lose whatever revenue it was getting from custom duty. As a secondary consequence, this will destroy wealth by creating more bureaucracy, mafia and terrorism. Most ironically, this will worsen India’s current account deficit, by motivating people to travel abroad merely to bring back gold. Contrary to what the government claims, gold is easily available in the market, at a very thin, almost non-existent ask-bid spread, a sign of a very liquid gold market.    So while I am not concerned about government’s interference in the gold market, except for its entertainment value, there is something else happening that one must keep an eye on, something that might negatively affect consumption of gold in India. Indian currency has fallen by 30% over the last three years. Inflation is chronic, currently at ~10%. Indians desperately need a hedge against inflation. Unfortunately, Indians have very limited options.  There are strict limitations on holding foreign currency, let alone foreign properties and investments. Given sustained high inflation and an extremely difficult investment environment within India, Indians invest a very large part of their savings in physical assets (property and precious metals), about 12% of GDP. Indians love gold and will likely do so for a foreseeable future. Moreover, gold has done quite well for Indians—it is currently trading not too far from its highest ever price in the local currency. Could economic growth reign in on inflation? India’s GDP per capita is a mere $1,491. Growth rate has fallen to ~4.5%, with the low-hanging fruit now having been picked over the last few high-growth years. Given a very difficult investment environment, it is not easy to invest in wealth-generating businesses. The new generation of Indians coming to the work-force are not trained for the modern economy. Despite that 10 million people join the workforce each year, there has been hardly any increase in absolute net employment over the last five years. What would have been a demographic dividend is rapidly becoming a liability. India is stagnating. Current account deficit today stands at >$80 billion, about 4.9% of GDP. Could one off devaluation help? Unfortunately, bad infrastructure, bureaucracy, corruption, lack of industrial training, and lack of rule of law makes India a high-cost economy. India’s problems are structural in nature. Any devaluation will quickly feed back as inflation, after creating a boom and bust cycle in the export-side of the economy. The eventual result is that Indian currency will likely have to be continuously devalued. Most importantly, I see no hope for India to change soon, making it unlikely for it to get back on the path of growth. Even the much publicized anti-corruption movement has mostly been about more free-stuff, and gimmickries of this extra-ordinarily socialistic and hypocritical society. Even though the falling Rupee will continue to make gold a very good way for Indians to save and hedge against inflation and devaluation, India will likely not be a force for gold to go up going forward in terms of the US dollar. A devaluation of Rupee or increase in international price of gold price will likely require Indians to allocate more of their earnings for gold. But as I show above, there is not much extra cash in India, given its stagnant economy. Any further increase in gold price in the international market will likely result in reduced gold consumption in Indian. Gold needs other markets to pick up the slack.

Latest On Russia, China, Germany, France, Gold & Ukraine Posted: 13 Mar 2014 04:07 PM PDT Today a man who has lived in 18 countries around the world spoke with KWN about the latest updates on Russia, China, Germany, France, gold and Ukraine. Keith Barron, who consults with major companies around the world and is responsible for one of the largest gold discoveries in the last quarter century, also key moves being made by Russia as the crisis in the Ukraine heats up. This posting includes an audio/video/photo media file: Download Now

Gold Price Needs to Clear $1,375, Looks Very Strong Posted: 13 Mar 2014 04:04 PM PDT Gold Price Close Today : 1372.20 Change : 1.90 or 0.14% Silver Price Close Today : 21.169 Change : -0.159 or -0.75% Gold Silver Ratio Today : 64.821 Change : 0.572 or 0.89% Silver Gold Ratio Today : 0.01543 Change : -0.000137 or -0.88% Platinum Price Close Today : 1478.80 Change : 3.10 or 0.21% Palladium Price Close Today : 778.75 Change : 1.80 or 0.23% S&P 500 : 1,846.34 Change : -21.86 or -1.17% Dow In GOLD$ : $242.68 Change : $ -3.82 or -1.55% Dow in GOLD oz : 11.739 Change : -0.185 or -1.55% Dow in SILVER oz : 760.97 Change : -5.17 or -0.67% Dow Industrial : 16,108.89 Change : -231.19 or -1.41% US Dollar Index : 79.610 Change : 0.030 or 0.04% The GOLD PRICE climbed only $1.90 to $1,372.20; silver lost 15.9 cents to 2116.9c. Gold needs to clear $1,375, looks very strong. The SILVER PRICE broke through its post-February downtrend line today to a new high for the move, but then collapsed and closed lower, below its 200 DMA. Really a lousy performance and first step of a key reversal, but that must be completed by a lower close tomorrow. The Ukrainian crisis heated up today and money ran for the exits and a safe haven. US dollar index Tanked overnight, hitting a low at 79.28, but over the day traded up to close up two tiny basis points to 79.61. Those Nice Government Men had a close shave today. Money ran out of the Euro, too, in a nasty one day turn around that probably marks the first step of a key reversal. Euro hit a new high for the move at $1.3958, then sank in one Brobdingnagian step to a low at $1.3845. Closed lower than yesterday, down 0.27% at $1.3868. Another low tomorrow cinches a key reversal downward. Yen got the safe haven (if a bit radioactive) bid. Rose as fast as the euro plunged, up 0.94% to 98.26 cents/Y100. When trading seems so evidently motivated by crisis, it's a tough question whether any of the gains or losses will stick longer than the crisis' lifespan. Money ran from stocks today, too. O, WEH! Dow fell 231.19 (1.41%) to 16,108.89. Speak to me, O Eyes, is that true? Yes, below the 20 Dma (16,329.99) and the 50 DMA (16,158.46). This is a grievous, deep wound and will probably continue tomorrow. S&P was nearly as bad, down 21.86 (1.17%) and below the 20 DMA but not the 50 (1,829). Dow in metals plummeted. DiS ended down 0.74% to 760.75 oz, touching the 20DMA. Dow in Gold tanked, down 1.79% to 11.74 oz AND below the 200 DMA (12.02 oz). A portentous break. Argentum et aurum comparenda sunt -- -- Gold and silver must be bought. - Franklin Sanders, The Moneychanger The-MoneyChanger.com © 2014, 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 or 18 ounces of silver. or 18 ounces of silver. US $ and 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.

Gold Price Needs to Clear $1,375, Looks Very Strong Posted: 13 Mar 2014 04:04 PM PDT Gold Price Close Today : 1372.20 Change : 1.90 or 0.14% Silver Price Close Today : 21.169 Change : -0.159 or -0.75% Gold Silver Ratio Today : 64.821 Change : 0.572 or 0.89% Silver Gold Ratio Today : 0.01543 Change : -0.000137 or -0.88% Platinum Price Close Today : 1478.80 Change : 3.10 or 0.21% Palladium Price Close Today : 778.75 Change : 1.80 or 0.23% S&P 500 : 1,846.34 Change : -21.86 or -1.17% Dow In GOLD$ : $242.68 Change : $ -3.82 or -1.55% Dow in GOLD oz : 11.739 Change : -0.185 or -1.55% Dow in SILVER oz : 760.97 Change : -5.17 or -0.67% Dow Industrial : 16,108.89 Change : -231.19 or -1.41% US Dollar Index : 79.610 Change : 0.030 or 0.04% The GOLD PRICE climbed only $1.90 to $1,372.20; silver lost 15.9 cents to 2116.9c. Gold needs to clear $1,375, looks very strong. The SILVER PRICE broke through its post-February downtrend line today to a new high for the move, but then collapsed and closed lower, below its 200 DMA. Really a lousy performance and first step of a key reversal, but that must be completed by a lower close tomorrow. The Ukrainian crisis heated up today and money ran for the exits and a safe haven. US dollar index Tanked overnight, hitting a low at 79.28, but over the day traded up to close up two tiny basis points to 79.61. Those Nice Government Men had a close shave today. Money ran out of the Euro, too, in a nasty one day turn around that probably marks the first step of a key reversal. Euro hit a new high for the move at $1.3958, then sank in one Brobdingnagian step to a low at $1.3845. Closed lower than yesterday, down 0.27% at $1.3868. Another low tomorrow cinches a key reversal downward. Yen got the safe haven (if a bit radioactive) bid. Rose as fast as the euro plunged, up 0.94% to 98.26 cents/Y100. When trading seems so evidently motivated by crisis, it's a tough question whether any of the gains or losses will stick longer than the crisis' lifespan. Money ran from stocks today, too. O, WEH! Dow fell 231.19 (1.41%) to 16,108.89. Speak to me, O Eyes, is that true? Yes, below the 20 Dma (16,329.99) and the 50 DMA (16,158.46). This is a grievous, deep wound and will probably continue tomorrow. S&P was nearly as bad, down 21.86 (1.17%) and below the 20 DMA but not the 50 (1,829). Dow in metals plummeted. DiS ended down 0.74% to 760.75 oz, touching the 20DMA. Dow in Gold tanked, down 1.79% to 11.74 oz AND below the 200 DMA (12.02 oz). A portentous break. Argentum et aurum comparenda sunt -- -- Gold and silver must be bought. - Franklin Sanders, The Moneychanger The-MoneyChanger.com © 2014, 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 or 18 ounces of silver. or 18 ounces of silver. US $ and 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.

Russia Touches U.S. Achilles Heel: Petrogold instead of Petrodollar Posted: 13 Mar 2014 03:59 PM PDT The US government feels the need to intervene in the Russian issue with Ukraine. If it wasn’t for an economic reason, nobody could come up with a valid argument explaining what the US has to do with a former USSR geopolitical issue. Is it really true that US policy makers leverage these “opportunities” as they desperately seek for GDP growth which they can’t find elsewhere? Today’s Russia is not governed by an alcohol addict named Jeltsin. Putin, with his roots in the KGB, clearly does not feel any intimidation by the US cabal. By contrast, his answer to the US warnings goes straight to the Achilles heel of the US: the US Dollar based global oil system, also known as “Petrodollar.” From Examiner.com (source): However, like with the Syrian crisis of last September, Russia is quickly retaliating with their own economic threats, and one major action that they could undertake as a response is to discard the Petro-Dollar and demand physical gold as payment for energy purchases in both oil and natural gas. Along the same lines on Goldcore.com (source): Russian government officials and businessmen are bracing for sanctions resembling those applied to Iran according to Bloomberg. Should Russian foreign exchange reserves and bank assets be frozen as is being suggested, then Russia would likely respond by wholesale dumping of their dollar reserves and bonds. In retaliation, Russia could opt to only accept gold bullion for payment for their gas, oil and other commodity exports. This would likely lead to a sharp fall in the dollar and a surge in gold prices. Indeed, no country is immune to the global currency war. It is a farce to say there is no currency war, like Goldman Sachs want us to believe (see here) or our political leaders as represented in the G20 (see here). Russia, just like China, has been piling up their gold reserves for several years now. They really did so for a reason. As the following chart shows, Russia has been positioning itself for the nasty effects of the currency war which has been in the making for several years now. That’s in sharp contrast with countries like the US who have shown a preference for unlimited easy money. How this will end, nodoby knows. What seems to be proven once again, is that gold equals strength. The petrodollar system is based on one, and only one, thing: trust. As soon as trust fades, the whole system collapses. That is the unspoken Achilles heel of the US. Unexpectedly, Russia is now in the position to touch this Achilles heel. Is this the trigger that will lead to a collapse of trust in the US dollar, as predicted for a long time by people like Jim Rickards and Peter Schiff?

Dollar Weakness Is Providing Strong Support In Gold Market Posted: 13 Mar 2014 03:55 PM PDT In his latest analysis of the markets, professional trader Dan Norcini describes his observations related to the dollar and gold. The most striking observation in today’s market was the weakening of the US Dollar, not being able to gather safe haven buying in the midst of a deteriorating crisis in Ukraine. That is in sharp contrast to the traditional safe haven currency during times of financial or geopolitical crises, as evidenced in the last years. For instance, the US Dollar was bid during the crisis of 2008, during the European Sovereign Debt Crisis, but also when the idea of a Fed tapering first began to surface. All that seems to be gone, at least based on the recent price action in the dollar. The dollar chart makes this point. Dollar and gold analysis by Dan Norcini: One thing for sure is occurring however – Treasuries are getting a firm bid out of safe haven plays. That is dropping interest rates and appears to be undercutting the Dollar although one does wonder how a rush into Dollar-denominated Treasuries is not Dollar supportive. There are so many new and different developments in these markets anymore that attempting to understand them all is proving to be an exercise in futility. What I do know however is that this persistent Dollar weakness, is providing a strong floor of support in the gold market. In the past, when we did get a general round of Dollar selling, almost as if in inverse lockstep, the commodity sector would march higher as the weakness in the currency would trigger a big macro trade across the sector. This is not occurring. Copper continues to sink lower and lower and while crude oil is managing a bit of a bounce today, the products are both weak. Individual commodity markets are powering higher ( Coffee, Hogs, Cotton) but the broad-based buying in the sector is lacking. You can see this in the relatively weak performance of silver compared to gold. Silver is following copper today and acting like an industrial metal rather than a monetary metal ( you never know what you are going to get with schizophrenic silver from day to day). I am very closely monitoring this Dollar chart however. The market is poised right above an important chart support zone near the 79 level basis USDX. If that goes, I expect to see gold reach the psychological $1400 mark. The ADX is now rising along with the Negative Directional Movement Indicator ( RED LINE) showing the bears are currently in control of the market and a trending move is looking more likely. Again, that will require the support zone to give way but unless the bulls make a firm stand here, they are going to cede complete control of the market to the bear camp. The HUI looks like it woke up from its slumber of yesterday. It has finally managed to clear 250 which is a real positive. I need to see this index power above 280 for starters to conclude that a stronger bullish uptrend is developing. Still, one has to be happy for the long suffering mining sector bulls who have been mercilessly pummeled for so long. At least their portfolio balances are finally moving higher. We’ll have to see what develops further over in Ukraine but for now, it has certainly spooked equity bulls and that is sending money flows into both gold and Treasuries for the time being. This Dollar weakness is troubling, very troubling… (Original source: Dan Norcini’s personal blog)

Jim Rickards: Our Monetary System Is Instable and It Will Collapse Posted: 13 Mar 2014 03:44 PM PDT In one of his latest interviews, Jim Rickards, author of the new book “The Death Of Money“, explains on the Dutch TV channel RTL why he believes the monetary system will collapse. This is of course nothing new for readers of our site. We have written about Rickards his observations and projections in numerous articles in the last years (for instance, Most Likely Outcome Is Still A Monetary Collapse, Jim Rickards Describes Four Future Monetary Scenarios, World Currency System Moving Towards Catastrophe). However, he makes a couple of interesting points and brings up some new insights which we haven’t covered before. Why the gold of countries is not safe in New York: I think it’s not safe. It is physically safe, but the US government might steal it. If you have a financial panic and there is a collapse of the dollar, and the US government sees a need to back the dollar with gold to restore trust, there is a risk that the US will confiscate that gold. The US government would add that to the US gold supply, create a new gold backed dollar, turn to the countries (whether the Netherlands, Italy or France) with a certificate and say they could get their gold back in the new system. That’s what I mean with re-writing the rules of the game. Why the trigger for the monetary system to collapse is irrelevant: You never know. Think of an avalanche. You have a mountain with a snow pack. Here comes a snow flake, it disturbs a few more flakes, then you have a slide, a collapse, the avalanche comes down and kills a lot of people. What do you blame? Do you blame the snow flake or the instability of the system? The snow flake is irrelevant, it could have been the next one or the one before. What matters is the instability of the system. What you need to study is the instability of the system. If you get that right, you will be able to see the collapse coming. The trigger is really irrelevant. A trigger could be the failure of a firm (think MF Global), the failure of an exchange, some kind of panic, a natural disaster, suicide of a prominent person. It really doesn’t matter what it is; what matters is your system is instable and it is going to collapse. Why Europe is the strongest currency in the world: Bernanke gave a speech in 2012 in Tokyo where he was talking about currency wars. He explained the problem of the currency wars of the 1930ies. Back then, first France devalued, then England devalued, then the US devalued, then England and France again. So it was sequential. Bernanke said that was the problem, it was sequential. What you need to do is devalue all at the same time. All the economic blocks need to print money at the same time. You get monetary ease (the stimulus) but not the currency war because the relative value shouldn’t change that much. Well, that’s a complete mistake. First of all, he is ignoring the rest of the world, like the BRICS who are the losers of the currency war. More importantly, Europe is refusing to play. Bank of Japan is printing, Bank of England is printing, Bank of China is printing, Europe is not printing that much. That’s because they try to maintain a sound currency. Europe is becoming a magnet for a lot of investment capital around the world. A lot of Chinese capital is coming over to Europe. The Euro is the strongest currency of the world and it is getting stronger. Why the common interest of the world to maintain the dollar is not strong enough: What the US policy makers are doing (US Fed) is highly flawed. It is based on flawed models and a misunderstanding of the dynamics of the economy. Europe, under Draghi, the ECB and German leadership, have a much better understanding of how the economy works. I like to say that Angela Merkel is the only head of state of the world who understands how the economy works because she is not an economist (she is a scientist). The dollar will go through a very rapid loss of confidence, just like the avalanche I described. You don’t know exactly when it is coming, but you see it coming because of the build up of the instability of the system. There will be a need to restore confidence. For instance, in the last 5 years, the US Fed has printed over 3 trillion dollars. They have taken their balance sheet from 800 billion to over 4 trillion. That has happened without a liquidity crisis. We had one in 2008, but not in the past 5 years. Now, what would happen if a liquidity crisis would happen tomorrow, next week or next year? What is the Fed going to do? Take their balance sheet to 8 trillion or 12 trillion? The point is, they are at the outer limit of what they can do. The next time there is a liquidity crisis, it will be bigger than the Federal Reserve, and the only clean balance sheet in the world that can liquify the world, is the IMF. The ECB prints euros, the US Fed prints dollars, the IMF can print money as well. They have their SDR’s which they can print. The next time there is a liquidity crisis, the IMF will need to print SDR’s to reliquify the world because all the balance sheets of the other central banks will now be trashed. The Chinese and others will not allow the IMF to do that unless they get a larger voice. What that means is that the SDR will replace the dollar as the reserve currency. Whether it succeeds or not is a separate issue, because when people have lost confidence in the dollar, why would they have confidence in the SDR? Why this time IS different: This time is different because the system is getting larger. Risk in the system is an exponential function of the scale and size of the system. Look back to 2008. We heard back then that the banks were “too big to fail.” Guess what, the 5 largest banks from the US are larger, they have a higher percentage of the total bank assets, their derivatives books are much larger. So what was “too big to fail” in 2008 is even bigger today. That means that the next crisis will be exponentially bigger. The difference this time is that it will be bigger than the US Fed. The Fed bailed out the world the previous time as they printed 3.5 million dollars. But they also provided tens of trillions of dollars of swap lines to the ECB, they provided bank deposits and money market funds, they did trillions of dollars of rescue operations. It did save the system from getting worse at that time, it did truncate the collapse. Now they have not that much fire power anymore. The next crisis will be bigger than the Fed. It will lead to a collapse of the dollar and a replacement of the dollar. Rickards ends his interview by describing his projection of the new monetary world. He believes the new world reserve currency could be the SDR of the IMF, but it could also be gold. It could also be a hybrid solution: gold in combination with SDR. In either case, people will run to gold. Gold is not digital, it’s no bitoin, it’s the only form of money that is real. The implied price of gold in that world will be $7,000 per ounce or perhaps even higher.

Price of Gold: 3 Key Drivers Posted: 13 Mar 2014 01:52 PM PDT Gold options and commodities trader Andy Hecht joins New York Markets Live...   The PRICE of GOLD continues on its 2014 tear, rallying more than 13% from the 3-year low hit again on New Year's Eve, writes Miguel Perez-Santalla, vice president of BullionVault.   Andy Hecht, options and commodities trader, joined me this week on New York Markets Live. Andy cited three reasons why the price of gold is surging in 2014... Current Finance Podcasts at Blog Talk Radio with New York Markets Live on BlogTalkRadio   Andy Hecht is the author of How to Make Money with Commodities, and has nearly 35 years experience as a trader on Wall Street, including two decades on the trading desk of Phillip Brothers, which became Salomon Brothers and ultimately part of Citigroup.    A contributor to Traders Magazine, Andy has lectured at colleges and universities. His biweekly radio show, The Commodities Hour with Andy Hecht, can be heard on Tuesdays and Thursdays from 3-4pm EST on www.tfnn.com.    Discussing the price of gold with me this week, Andy sees these key drivers... Good physical demand from places like China and Asia and places with no convertible currency.  A decent bearish sentiment about gold with high profile analysts calling for much lower gold prices. Open interest in gold dropped dramatically. Ukrainian geopolitical tension, problems in China with talk of bankruptcy. Gold is fungible and can be traded in different currencies. Among the other topics discussed, Andy and I look at the role that the Comex gold futures market, as well as central banks, now play in the availability and price of gold.   We also talk about the purpose of the London Gold Fix and how it correlates to spot and futures gold prices. Andy Hecht stressesthe need for transparency and efficiency in the world's gold markets. "Commodities play a role in everybody's lives and have an impact on almost every investment," said Hecht. "If you're investing in an airline you're greatly impacted by the price of jet fuel, which is tied to oil. Stocks, bonds, ETFs are impacted by commodities." Finally, we also talked about the silver to gold ratio in terms of the market, availability, and price correlation.   Hear the full show now at New York Markets Live.

Price of Gold: 3 Key Drivers Posted: 13 Mar 2014 01:52 PM PDT Gold options and commodities trader Andy Hecht joins New York Markets Live...   The PRICE of GOLD continues on its 2014 tear, rallying more than 13% from the 3-year low hit again on New Year's Eve, writes Miguel Perez-Santalla, vice president of BullionVault.   Andy Hecht, options and commodities trader, joined me this week on New York Markets Live. Andy cited three reasons why the price of gold is surging in 2014... Current Finance Podcasts at Blog Talk Radio with New York Markets Live on BlogTalkRadio   Andy Hecht is the author of How to Make Money with Commodities, and has nearly 35 years experience as a trader on Wall Street, including two decades on the trading desk of Phillip Brothers, which became Salomon Brothers and ultimately part of Citigroup.    A contributor to Traders Magazine, Andy has lectured at colleges and universities. His biweekly radio show, The Commodities Hour with Andy Hecht, can be heard on Tuesdays and Thursdays from 3-4pm EST on www.tfnn.com.    Discussing the price of gold with me this week, Andy sees these key drivers... Good physical demand from places like China and Asia and places with no convertible currency.  A decent bearish sentiment about gold with high profile analysts calling for much lower gold prices. Open interest in gold dropped dramatically. Ukrainian geopolitical tension, problems in China with talk of bankruptcy. Gold is fungible and can be traded in different currencies. Among the other topics discussed, Andy and I look at the role that the Comex gold futures market, as well as central banks, now play in the availability and price of gold.   We also talk about the purpose of the London Gold Fix and how it correlates to spot and futures gold prices. Andy Hecht stressesthe need for transparency and efficiency in the world's gold markets. "Commodities play a role in everybody's lives and have an impact on almost every investment," said Hecht. "If you're investing in an airline you're greatly impacted by the price of jet fuel, which is tied to oil. Stocks, bonds, ETFs are impacted by commodities." Finally, we also talked about the silver to gold ratio in terms of the market, availability, and price correlation.   Hear the full show now at New York Markets Live.

Investor-Friendly Junior Mining Posted: 13 Mar 2014 01:40 PM PDT Stop shooting for the stars and deliver some shareholder value...   PAUL ADAMS is a geologist and head of research at Australian brokerage DJ Carmichael.   With 16 years of experience in the mining industry, in Australia and elsewhere, Adams was previously chief geologist and evaluations manager at Placer Dome's Granny Smith mine. He is a member of the Australian Institute of Mining and Metallurgy and has a Graduate Diploma in Applied Finance and Investment from the Financial Services Institute of Australasia.   Here Adams speaks to The Gold Report's sister title, The Mining Report, about how junior miners should focus on more modest projects best suited to maximizing shareholder value, rather than shoot for the stars.   The Mining Report: After over two years of gloom, we're seeing renewed optimism regarding mining equities in North America. Is there similar optimism in Australia?    Paul Adams: There is, but the change in sentiment is pretty much in its infancy down here. We recently undertook some analysis of the returns from the various subindices in the market. The small resources index here in Australia is at about +4.3% for 2014 compared to a -8% return for December. The recent surge in the gold price has certainly helped lift the mood.    The materials sector in Australia is tied closely to sentiment on Chinese growth, and headwinds there tend to have major repercussions. A couple big names have had really strong starts, but they're pulling back a little now as the price of iron ore landed in China has dropped about $10. But those players have such a heavy weighting on the materials index that it's really difficult to get a full picture of what's going on.    TMR: With regard to China, how much growth do you foresee?    Paul Adams: Five years ago, China's GDP growth was around 12%. Obviously, as the size of the Chinese economy increases, they can't continue growing at that speed. We expect growth in the 6.5-7.5% range for the next year or two.   TMR: What's your 2014 outlook for precious and industrial metals prices?    Paul Adams: We think the current gold price is about right, plus/minus $100 per ounce. Wobbles in the emerging markets have prompted gold's recent move up into the $1300 per ounce range. We're seeing gold coming back as an alternative investment, a bit of a safe haven.   We're relatively bullish on platinum and palladium given conditions in Southern Africa.   TMR: What about silver?    Paul Adams: I don't see a major diversion from the current gold/silver ratio.    TMR: How about industrial and critical metals?    Paul Adams: The consensus data for the industrial metals generally looks positive for 2014 and into 2015. Obviously, we want to see what effect the Indonesian ban on raw exports will have. That's very important to nickel prices.    Zinc and lead should be reasonably well supported. There is very muted mine supply growth. As the global economy improves, there are going to be some increases in industrial demand for those particular metals. There's softness in the copper market. With the consensus price probably falling below $7,000 per ton, inventories are growing. These data are conflicting, however, and copper has a history of staying up longer than many had anticipated.   TMR: You've said that juniors should choose appropriately sized projects in order to have the best chance of generating shareholder wealth. Could you expand on that?    Paul Adams: In a post-global-financial-crisis and post-metals-boom world, we're seeing a lot of companies with large projects that can't get financed. Investors today want to see projects that can weather the complete commodities price cycle. Our view is that we would rather see a good management team take on a Tier 2 or Tier 3 project in a good jurisdiction with a reasonable capex and a reasonable timeframe, rather than a Tier 1 project they ultimately won't be able to develop without joint ventures.    TMR: With regard to timeframe, how long is too long?    Paul Adams: A project that looks like it's going to take much longer than four to five years to get into production is probably a little bit too far out.    TMR: What's the danger zone for capex?    Paul Adams: It depends on the economics of the individual project, but I think a capex north of about $600-700 million is pretty high. The sweet spot for small companies is somewhere up to $200-250m.   TMR: Is it difficult for mining companies to keep expectations modest? Isn't there a natural tendency to shoot for the stars?    Paul Adams: With many mining companies, management has come from majors. They're used to dealing with big projects and big budgets. There's a degree of relearning when you're in a small company; you have to be quick, nimble and you must count the pennies. There is a tendency to shoot for the stars, with the belief that maybe you'll settle for the moon. But the statistics tell us this isn't likely to happen.    We look for teams that have a measured approach to development because smaller projects are easier to develop without overly diluting shareholders in the process. Some management teams forget about that. They're so intent on making a huge discovery that they forget about the shareholders along the way.   TMR: Which jurisdictions do you like best now?    Paul Adams: Certain parts of South America offer good opportunities. We particularly like Chile. The other emerging jurisdiction for Australian Stock Exchange (ASX)-listed companies is the United States. Nevada would certainly be front and center, then Arizona, then parts of Utah and Wyoming.   TMR: Chile is politically and socially stable, but concerns have been raised about infrastructure, in particular, deficiencies of water and electricity. What do you think of this?    Paul Adams: We've been to Chile three or four times over the past three years, and water and electricity are major issues. To get water to the high Andes, it must be pumped from the coast. And if you're not close to existing infrastructure, power costs are a major hurdle.    TMR: How about another jurisdiction with an interesting infrastructure idea?   Paul Adams: Another example is Fiji, which wants the delta dredged because it will reduce the risk of flooding to the surrounding area. So it's a win-win, really: increasing employment and government revenue, as well as improving the environment.    TMR: Fiji is not a name one normally associates with the mining industry.    Paul Adams: Recent political events in Fiji have raised concern, but don't forget, Fiji has a very long mining history. Most famous is the Emperor gold mine, which operated for decades.   TMR: How about rare earth elements (REEs)?   Paul Adams: We believe pricing in the light rare earth elements (LREEs) is going to be soft going forward. So we decided that our interest is only in projects dominated by heavy rare earth elements (HREEs). There are only three or four of those on the ASX.    TMR: Paul, thank you for your time and your insights.

Investor-Friendly Junior Mining Posted: 13 Mar 2014 01:40 PM PDT Stop shooting for the stars and deliver some shareholder value...   PAUL ADAMS is a geologist and head of research at Australian brokerage DJ Carmichael.   With 16 years of experience in the mining industry, in Australia and elsewhere, Adams was previously chief geologist and evaluations manager at Placer Dome's Granny Smith mine. He is a member of the Australian Institute of Mining and Metallurgy and has a Graduate Diploma in Applied Finance and Investment from the Financial Services Institute of Australasia.   Here Adams speaks to The Gold Report's sister title, The Mining Report, about how junior miners should focus on more modest projects best suited to maximizing shareholder value, rather than shoot for the stars.   The Mining Report: After over two years of gloom, we're seeing renewed optimism regarding mining equities in North America. Is there similar optimism in Australia?    Paul Adams: There is, but the change in sentiment is pretty much in its infancy down here. We recently undertook some analysis of the returns from the various subindices in the market. The small resources index here in Australia is at about +4.3% for 2014 compared to a -8% return for December. The recent surge in the gold price has certainly helped lift the mood.    The materials sector in Australia is tied closely to sentiment on Chinese growth, and headwinds there tend to have major repercussions. A couple big names have had really strong starts, but they're pulling back a little now as the price of iron ore landed in China has dropped about $10. But those players have such a heavy weighting on the materials index that it's really difficult to get a full picture of what's going on.    TMR: With regard to China, how much growth do you foresee?    Paul Adams: Five years ago, China's GDP growth was around 12%. Obviously, as the size of the Chinese economy increases, they can't continue growing at that speed. We expect growth in the 6.5-7.5% range for the next year or two.   TMR: What's your 2014 outlook for precious and industrial metals prices?    Paul Adams: We think the current gold price is about right, plus/minus $100 per ounce. Wobbles in the emerging markets have prompted gold's recent move up into the $1300 per ounce range. We're seeing gold coming back as an alternative investment, a bit of a safe haven.   We're relatively bullish on platinum and palladium given conditions in Southern Africa.   TMR: What about silver?    Paul Adams: I don't see a major diversion from the current gold/silver ratio.    TMR: How about industrial and critical metals?    Paul Adams: The consensus data for the industrial metals generally looks positive for 2014 and into 2015. Obviously, we want to see what effect the Indonesian ban on raw exports will have. That's very important to nickel prices.    Zinc and lead should be reasonably well supported. There is very muted mine supply growth. As the global economy improves, there are going to be some increases in industrial demand for those particular metals. There's softness in the copper market. With the consensus price probably falling below $7,000 per ton, inventories are growing. These data are conflicting, however, and copper has a history of staying up longer than many had anticipated.   TMR: You've said that juniors should choose appropriately sized projects in order to have the best chance of generating shareholder wealth. Could you expand on that?    Paul Adams: In a post-global-financial-crisis and post-metals-boom world, we're seeing a lot of companies with large projects that can't get financed. Investors today want to see projects that can weather the complete commodities price cycle. Our view is that we would rather see a good management team take on a Tier 2 or Tier 3 project in a good jurisdiction with a reasonable capex and a reasonable timeframe, rather than a Tier 1 project they ultimately won't be able to develop without joint ventures.    TMR: With regard to timeframe, how long is too long?    Paul Adams: A project that looks like it's going to take much longer than four to five years to get into production is probably a little bit too far out.    TMR: What's the danger zone for capex?    Paul Adams: It depends on the economics of the individual project, but I think a capex north of about $600-700 million is pretty high. The sweet spot for small companies is somewhere up to $200-250m.   TMR: Is it difficult for mining companies to keep expectations modest? Isn't there a natural tendency to shoot for the stars?    Paul Adams: With many mining companies, management has come from majors. They're used to dealing with big projects and big budgets. There's a degree of relearning when you're in a small company; you have to be quick, nimble and you must count the pennies. There is a tendency to shoot for the stars, with the belief that maybe you'll settle for the moon. But the statistics tell us this isn't likely to happen.    We look for teams that have a measured approach to development because smaller projects are easier to develop without overly diluting shareholders in the process. Some management teams forget about that. They're so intent on making a huge discovery that they forget about the shareholders along the way.   TMR: Which jurisdictions do you like best now?    Paul Adams: Certain parts of South America offer good opportunities. We particularly like Chile. The other emerging jurisdiction for Australian Stock Exchange (ASX)-listed companies is the United States. Nevada would certainly be front and center, then Arizona, then parts of Utah and Wyoming.   TMR: Chile is politically and socially stable, but concerns have been raised about infrastructure, in particular, deficiencies of water and electricity. What do you think of this?    Paul Adams: We've been to Chile three or four times over the past three years, and water and electricity are major issues. To get water to the high Andes, it must be pumped from the coast. And if you're not close to existing infrastructure, power costs are a major hurdle.    TMR: How about another jurisdiction with an interesting infrastructure idea?   Paul Adams: Another example is Fiji, which wants the delta dredged because it will reduce the risk of flooding to the surrounding area. So it's a win-win, really: increasing employment and government revenue, as well as improving the environment.    TMR: Fiji is not a name one normally associates with the mining industry.    Paul Adams: Recent political events in Fiji have raised concern, but don't forget, Fiji has a very long mining history. Most famous is the Emperor gold mine, which operated for decades.   TMR: How about rare earth elements (REEs)?   Paul Adams: We believe pricing in the light rare earth elements (LREEs) is going to be soft going forward. So we decided that our interest is only in projects dominated by heavy rare earth elements (HREEs). There are only three or four of those on the ASX.    TMR: Paul, thank you for your time and your insights.

Gold Daily and Silver Weekly Charts - Killing Fields Posted: 13 Mar 2014 01:30 PM PDT

Gold Daily and Silver Weekly Charts - Killing Fields Posted: 13 Mar 2014 01:30 PM PDT

Jim’s Mailbox Posted: 13 Mar 2014 12:43 PM PDT Jim, Et-tu Russia? What is it with gold?  Everybody wants this relic? CIGA Wolfgang Rech Russia May Retaliate Sanctions By Demanding Payment For Exports In Gold Submitted by GoldCore on 03/13/2014 09:26 -0400 DAILY PRICE REPORT Today's AM fix was USD 1371.00, EUR 982.30 and GBP 821.70 per ounce. Yesterday's AM fix was USD 1355.75,... Read more » The post Jim’s Mailbox appeared first on Jim Sinclair's Mineset.

The Dollar and Gold Posted: 13 Mar 2014 12:37 PM PDT By Bill Holter for Miles Franklin Dear CIGAs, Gold and the dollar are supposed to be mirror images of each other on the charts.  This only makes sense as gold is commonly referred to as the "anti-dollar."  Over the past 10 plus years Jim Sinclair has referred to this "mirror" relationship many, many times.  I... Read more » The post The Dollar and Gold appeared first on Jim Sinclair's Mineset.

Currency war is intensifying and will be highly inflationary, Ing tells KWN Posted: 13 Mar 2014 12:07 PM PDT 3p ET Thursday, March 13, 2014 Dear Friend of GATA and Gold: Canadian fund manager John Ing tells King World News today that the worldwide currency war is intensifying and will become highly inflationary. Meanwhile, he says, Chinese interests keep adding gold mining companies to their shopping list. An excerpt from the interview is posted at the King World News blog here: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/3/13_Th... CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. ADVERTISEMENT How to profit with silver -- and which stocks to buy now Future Money Trends is offering a special 16-page silver report with profiles of nine companies and technical analysis of their stock performance. Six of the companies have market capitalizations of less than $800 million and one company has a market cap of only $30 million. The most exciting of these companies will begin production in a few weeks and has a market cap of just $150 million. Half of all proceeds from the sale of this report will be donated to the Gold Anti-Trust Action Committee to support its efforts exposing manipulation and fraud in the gold and silver markets. To learn about this report, please visit: http://www.futuremoneytrends.com/index.php?option=com_content&id=376&tmp... Join GATA here: Mines and Money Hong Kong Hong Kong Convention and Exhibition Centre Monday-Friday, March 24-28, 2014 Hong Kong Special Administrative Region, China http://www.minesandmoney.com/hongkong/ Porter Stansberry Natural Resources Conference AT&T Performing Arts Center Margot and Bill Winspear Opera House 2403 Flora St., Dallas, Texas Saturday, May 31, 2014 http://stansberrydallas.com/ Canadian Investor Conference 2014 Vancouver Convention Centre West 1055 Canada Place, Vancouver, British Columbia Sunday and Monday, June 1 and 2, 2014 http://cambridgehouse.com/event/25/canadian-investor-conference-2014-inc... * * * 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: http://gata.org/tshirts 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: http://www.gata.org To contribute to GATA, please visit: http://www.gata.org/node/16 ADVERTISEMENT Buy metals at GoldMoney and enjoy international storage GoldMoney was established in 2001 by James and Geoff Turk and is safeguarding more than $1.7 billion in metals and currencies. Buy gold, silver, platinum, and palladium from GoldMoney over the Internet and store them in vaults in Canada, Hong Kong, Singapore, Switzerland, and the United Kingdom, ­taking advantage of GoldMoney's low storage rates, among the most competitive in the industry. GoldMoney also offers delivery of 100-gram and 1-kilogram gold bars and 1-kilogram silver bars. To learn more, please visit: http://www.goldmoney.com/?gmrefcode=gata

Breakout in Gold Price and Gold Mining Stocks! Posted: 13 Mar 2014 11:38 AM PDT Lately we’ve been writing about why we expected the rebound in precious metals to continue without any serious setbacks. After a major low, sentiment can remain muted for several months even in contrast to the improving market action. Yet, a look at history shows that rebounds from major lows can continue unabated and unscathed for more than a year. The rebound in precious metals thus far appears to be following this script. It has received a further boost with the breakout in Gold yesterday and as of now, the breakout in the gold miners.

The Chinese Are Making Major Moves In The Gold Market Posted: 13 Mar 2014 10:36 AM PDT With the stock market tumbling, gold surging, and the U.S. dollar falling, today Canadian legend John Ing spoke with King World News about major moves by the Chinese in the gold market as well as their position on Ukraine. Ing, who has been in the business for 43 years, also discussed the intensifying currency wars between various countries around the world. Below is what Ing had to say in his fascinating interview. This posting includes an audio/video/photo media file: Download Now

Stockman – Terrifying Financial & Economic Volcano & Ukraine Posted: 13 Mar 2014 08:04 AM PDT Dear CIGAs, Today David Stockman spoke with King World News about the escalating crisis in Ukraine, gold, and a terrifying "financial and economic volcano."  KWN takes Stockman's warnings very seriously because he is the man former President Reagan called on in 1981, during that crisis, to become Director of the Office of Management and Budget... Read more » The post Stockman – Terrifying Financial & Economic Volcano & Ukraine appeared first on Jim Sinclair's Mineset.

Is The Global Economy Seriously Beginning To Roll Over? Posted: 13 Mar 2014 08:01 AM PDT As the U.S. dollar continues its slide, today KWN is pleased to share an important piece from 50-year veteran Art Cashin, who is Director of Floor Operations at UBS ($650 billion under management). Cashin discusses major markets as well as what is happening overseas and his piece includes an important commentary. This posting includes an audio/video/photo media file: Download Now

Gold Prices Slip $10 from New 6-Month High at "Upper Channel Limit", Futures Markets Adds Fresh "Frothiness" Posted: 13 Mar 2014 06:51 AM PDT GOLD PRICES touched new 6-month highs above $1374 per ounce at the start of London bullion trade Thursday, drifting $10 lower as European stock markets held flat but major government bonds retreated.   Silver dropped to $21.18 per ounce, halving the week's 2.5% rise in gold prices so far.   Copper cut its earlier 5% drop for the week, called "excessive" with "no fundamental justification" by commodity analysts at Commerzbank in Germany, despite the plunge in China's exports of goods reported earlier this week.   New data today said China's retail sales, urban investment and industrial production all missed analysts' forecasts badly in January.   Three days before Crimea's referendum on splitting from Ukraine to join Russia, the parliament in Kiev today voted to create a National Guard of 60,000 soldiers - effectively taking the army's strength back to 2009 levels from the current 184,000.   "Given bullion's technical break" of the October high at $1361, says gold price analysis from HSBC, "it may be at risk of profit-taking in the near-term, barring an escalation of Eastern European tensions."   "Watch the channel upper limit," says French investment bank and fellow London bullion market maker Societe Generale, switching its formerly bearish stance to bullish and calling $1375 current resistance from gold's "steep rising channel" starting New Year's Eve.   Touching new 17-month highs on the FX market today, the Euro capped the gold price for Eurozone buyers at a 4-month high of €990 per ounce this morning.   UK investors wanting to buy gold today saw the price peak at £825 per ounce, some 15.4% higher from the last day of 2013, when the Sterling price hit its lowest level since Feb.2010 at £715.   "Inflationary pressures are becoming apparent," said the Reserve Bank of New Zealand today, raising interest rates from record lows despite the Kiwi Dollar already trading at near-record highs.   "Growth in demand has been absorbing spare capacity."   Also known as the output gap, such "spare capacity" says Steven Barrow at Standard Bank "could offer a way out" for the major central banks to avoid breaking their own rate-raising plans in 2014.   The US Federal Reserve – like the Bank of England and Eurozone's ECB – "needs to make it clear that rates will not rise soon in spite of the fact that the unemployment rate is close to the [stated] threshold," says Barrow.   Initial US jobless claims last week were the lowest since November, new data said Thursday.   "Considering [last] Friday's US payrolls data," writes Joni Teves at Swiss investment and bullion bank UBS, "we are surprised by gold's move this week."   Teves also points to what she calls "the frothiness of spec[ulative] positioning [and] subdued physical demand.    "We expected the gold price to stage a reversal" after rising more than 12% already in 2014.   US gold futures expanded sharply again on Wednesday, with open interest now growing by one-eighth from the start of March to reach almost 436,000 contracts.   Gold price betting through US futures fell in 2013 to an average open interest of 408,000 and ended the metal's worst year since 1982 at a 42-month low of 370,000.   That compares to the previous 5-year average of 460,000.   Meantime in Asia on Thursday, "Physical selling was abundant," in the afternoon session says a note from refining and finance group MKS.   Shanghai Gold Exchange prices, typically trading at a premium to London settlement, continued to offer a discount today, but reduced the gap to $3.60 per ounce from Wednesday's 15-month record of $4.30.

Gold Is Seasonal: When Is the Best Month to Buy? Posted: 13 Mar 2014 05:41 AM PDT Casey Research

How ETFs Havent Altered The Dynamics Of Gold Posted: 13 Mar 2014 05:40 AM PDT Perth Mint Blog.

The Silver Storage Myth Posted: 13 Mar 2014 05:13 AM PDT I have often heard some “experts” explain how much space it takes to store physical silver in comparison to gold. For example, they say if the gold silver ratio is (GSR) is 50 to 1, it takes 50 times more space to store the physical silver over the same value of gold.  While the GSR is valid for comparing the price of the two metals, it only makes up part of the equation on the space it takes for storage. What is often overlooked is the density of the metals. The density of pure gold is 19.3 which equates to:

How to Profit Now from Canada's Overlooked Tech Market Posted: 13 Mar 2014 02:57 AM PDT Michael A. Robinson writes: Many investors think of Canada as the land of mining stocks, and not without good reason. It's resource-rich and home to a legion of mining firms that produce everything from gold and silver to iron ore. Canada ranks among the world's top five producers of 14 mineral commodities and is the world leader in the production of potash and uranium.

Quarterly times series on World Official Gold Reserves since 2000 Posted: 13 Mar 2014 02:00 AM PDT A quarterly time series of World gold holdings (in Excel format) in terms of volume (tonnes), value (US dollars) and as a percentage of total reserves. Updated bi-annually.

Changes in World Gold Official Reserves Posted: 13 Mar 2014 01:59 AM PDT Shows month by month, how countries' reported gold holdings have changed since January 2002 and reasons where known. Updated quarterly.

Latest sales under the third Central Bank Gold Agreement (CBGA3) Posted: 13 Mar 2014 01:59 AM PDT Updated quarterly.

Latest World Official Gold Reserves Posted: 13 Mar 2014 01:58 AM PDT Information on each country's gold reserves and the proportion this represents of their total external reserves. Updated quarterly.

ECONOMIC COLLAPSE 2014 -- Is The Devaluation Of The Dollar Unavoidable? Posted: 12 Mar 2014 10:04 PM PDT The Greek people are sick and tired of austerity, unemployment is ~30% and rising. The Greek people are being urged by their government to keep all money in the country to help the debt problem. More financial layoffs are looming, reports are filtering in that many will possibly lose their jobs... [[ This is a content summary only. Visit http://www.GoldSilverNewsBlog.com or http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]

David Stockman - We Will See A Massive Selling Panic In Stocks Posted: 12 Mar 2014 09:01 PM PDT Today David Stockman warned King World News that investors should not buy the dip any dips in the stock market because there is going to be a massive "selling panic" in stocks. KWN takes Stockman's warnings very seriously because he is the man former President Reagan called on in 1981, during that crisis, to become Director of the Office of Management and Budget and help save the United States from collapse. Below is what Stockman had to say in part II of a series of powerful interviews that have now been released. This posting includes an audio/video/photo media file: Download Now

The Gold Price Busted Through the Ceiling Stop Waiting and Buy Posted: 12 Mar 2014 08:34 PM PDT Gold Price Close Today : 1,370.30 Change : 23.80 or 1.77% Silver Price Close Today : 21.33 Change : 0.54 or 2.62% Gold Silver Ratio Today : 64.249 Change : -0.537 or -0.83% Silver Gold Ratio Today : 0.0156 Change : 0.0001 or 0.84% Platinum Price Close Today : 1,475.70 Change : 11.70 or 0.80% Palladium Price Close Today : 776.95 Change : 6.65 or 0.86% S&P 500 : 1,868.15 Change : 0.52 or 0.03% Dow In GOLD$ : $246.50 Change : $ -4.53 or -1.81% Dow in GOLD oz : 11.92 Change : -0.22 or -1.81% Dow in SILVER oz : 766.12 Change : -20.61 or 0.29% Dow Industrial : 16,339.76 Change : -11.49 or -2.62% US Dollar Index : 79.58 Change : -0.18 or -0.23% Listen, this is it. The GOLD PRICE kept bumping up against that $1,355 ceiling, & after the third knock busted through. Stop waiting: BUY. This will run at least to $1,435 before it takes any weighty break. The gold price today surged enough to hit its top Bollinger Band, but notice that it has been tickling that line & crossing it all through the February rise, strong, tugging at the reins, wanting to run. The SILVER PRICE move was larger percentage-wise, but less dramatic otherwise. Even with today's close, barely short of the 20 DMA (2043c) silver remains in a short term downtrend (lower highs and lower lows). I suspect it turned up day before yesterday with a 2061c intraday low, and now it has again o'erleapt its 200 DMA (2098c). First target for silver is now the February 2218c high, then October's 2309c, but my eyes are on August's high at 2512c. Silver like gold has traded above its post-April 2013 downtrend line, so the rally is on. However, after the blood and grief of a more than two year downward correction, silver and GOLD PRICES must conquer those earlier highs to convince the skeptics. "Bull markets climb a wall of worry." As with gold, now is the time to buy silver. Remember that often, as precious metals rallies progress, silver begins to outperform gold. We will probably witness that on this occasion, too, considering that we started from a very high GOLD/SILVER RATIO (over 64). Have y'all ever thought about this? All portfolio & investing theory & lots of economics is based on the "efficient or rational markets" assumption, that is, that markets behave rationally & efficiently because investors behave rationally. All financial media reporting presupposes that: "Investors today turned away from copper based on studies that show prolonged exposure to copper can cause warts." In fact, how many "rational" people do you know? How many do you know who even rationally pursue their own best interest? I know exactly one, and he stands out because he's the only one nearly rational & he ain't too rational around the edges. Most of mankind most of the time looks like a man hitting himself in the head with a ball peen hammer. He doesn't know WHY, he just can't stop. So the financial media look at two stories coincident in time -- copper drops, yuan drops -- and act as if investors worldwide suddenly shucked copper because the yuan dropped. I reckon this may not be rational behavior, but the "post hoc, ergo propter hoc" fallacy, namely, "it happened after this so it happened because of this." Suppose a woman gets pregnant every year during winter's coldest time. Does that prove cold weather causes pregnancy? Y'all, I'm a fool, but I'm not being silly. Markets are so huge that nobody can pinpoint a single cause for their movements. And most investors act more on emotion and tips than on reason; that's why so many lose money. That's why people buy the Japanese yen & drive it up the same day the Bank of Japan announces it will cheapen the yen further. That's why markets sway & swoon when the FOMC meets & mumbles trite and pompous platitudes it hopes will come true. Mercy, that's why people still vote Democratic & Republican after all the proof that these people mean to destroy us! Does that mean we all become obscurantists & say markets are unknowable? Nope, it means we approach them humbly as mysteries with unknown edges. After identifying long term trends, we invest in those so every twist & turn of adolescent fear & greed doesn't tie us in knots & pick our pockets. More, we pay attention to what markets are saying, even when we're not sure exactly what it imports. Copper, for instance, often tops before stock markets, and often predicts future economic activity, higher or lower. Copper hath thrice hit this $3.00 boundary since it peaked early in 2011, itself a warning other commodities would peak later that year. Usually when a market knocks on a door three times, it breaks through at the last knock, as copper appears to be doing. It rings a loud klaxon warning stock investors. Nothing deterred the rational folks swarming on Nasdaq & Nasdaq 100 today, but the Dow fell a little 11.49 (0.07%) to 16,339.76. S&P500 blew hot & cold out of both sides of its mouth by rising 0.52 or 0.03% to 1,868.15. Both are hovering above their 20 DMA, tripwire of a decline. Today's performance in the Dow in Gold & Dow in Silver shredded all notions that they might rally further. DiG plunged 1.6% to 11.92 oz (G$246.40 gold dollars) and dunked the DiG's below the 200 DMA (12.02). Other indicators are turning down. Dow in silver dropped 2.3% to 765.06 oz (S$989.17 silver dollars) and draws close to the 20 DMA (761.94 oz). Looks like the end of the upward correction. US Dollar Index lost 18 basis points or 0.23% to 79.58. It remains within the nose cone of a falling wedge, and thus the possibility of an upward reversal, but I have to ask, What is the market telling us? That it doesn't like dollars. Across the icy Atlantic, the euro rose 0.34% to $1.3908, a new high for the move. That close above resistance suggests the euro will climb to $1.4250, or higher. Yen felt peppy today, too, rising 0.23% to 97.38 c/Y100. Still below its 20 DMA, still in a downtrend. All fiat currencies issued by central banks are headed for history's dumpster. Right there among the mashed grapefruit rinds and rotting potato peels and fragrant spoiled hamburger and used Kleenexes. Gold did it today, blasting up $23.80 (1.77%) to $1,370.30. Silver beat gold, rising 2.62% (54.4 cents) to 2132.8c. Some days you just can't win. About 3 years ago we found a Jersey bull calf, Fry, descended from a great grass-fed New Zealand bull. He's never been any trouble and has faithfully done his job. This morning he was just fine when my son Wright fed the cows some hay and alfalfa, but when another son, Justin, went by after noon, he was four-hooves-up in the pasture, wildly bloated. We even went out there to make sure it wasn't some improbable cow prank, but he was dead. Stone cold dead. A veterinarian friend in another state helped put together what must have happened. Wright put out alfalfa for him, and as the biggest animal Fry must have pushed the cows away and gorged on alfalfa. But alfalfa & clover are legumes, & can cause frothy bloat in cows, tiny bubbles in the cow's stomach that won't burst, so that the animal suddenly bloats and dies. Even if someone had warned me about it -- and we knew about bloat from clover -- I wouldn't have thought that was enough alfalfa to hurt him. What you don't know CAN kill you, or your animals. "The Lord gave, the Lord hath taken away. Blessed be the name of the Lord." Argentum et aurum comparenda sunt -- -- Gold and silver must be bought. - Franklin Sanders, The Moneychanger The-MoneyChanger.com © 2014, 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 or 18 ounces of silver. or 18 ounces of silver. US $ and 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.

The Gold Price Busted Through the Ceiling Stop Waiting and Buy Posted: 12 Mar 2014 08:34 PM PDT Gold Price Close Today : 1,370.30 Change : 23.80 or 1.77% Silver Price Close Today : 21.33 Change : 0.54 or 2.62% Gold Silver Ratio Today : 64.249 Change : -0.537 or -0.83% Silver Gold Ratio Today : 0.0156 Change : 0.0001 or 0.84% Platinum Price Close Today : 1,475.70 Change : 11.70 or 0.80% Palladium Price Close Today : 776.95 Change : 6.65 or 0.86% S&P 500 : 1,868.15 Change : 0.52 or 0.03% Dow In GOLD$ : $246.50 Change : $ -4.53 or -1.81% Dow in GOLD oz : 11.92 Change : -0.22 or -1.81% Dow in SILVER oz : 766.12 Change : -20.61 or 0.29% Dow Industrial : 16,339.76 Change : -11.49 or -2.62% US Dollar Index : 79.58 Change : -0.18 or -0.23% Listen, this is it. The GOLD PRICE kept bumping up against that $1,355 ceiling, & after the third knock busted through. Stop waiting: BUY. This will run at least to $1,435 before it takes any weighty break. The gold price today surged enough to hit its top Bollinger Band, but notice that it has been tickling that line & crossing it all through the February rise, strong, tugging at the reins, wanting to run. The SILVER PRICE move was larger percentage-wise, but less dramatic otherwise. Even with today's close, barely short of the 20 DMA (2043c) silver remains in a short term downtrend (lower highs and lower lows). I suspect it turned up day before yesterday with a 2061c intraday low, and now it has again o'erleapt its 200 DMA (2098c). First target for silver is now the February 2218c high, then October's 2309c, but my eyes are on August's high at 2512c. Silver like gold has traded above its post-April 2013 downtrend line, so the rally is on. However, after the blood and grief of a more than two year downward correction, silver and GOLD PRICES must conquer those earlier highs to convince the skeptics. "Bull markets climb a wall of worry." As with gold, now is the time to buy silver. Remember that often, as precious metals rallies progress, silver begins to outperform gold. We will probably witness that on this occasion, too, considering that we started from a very high GOLD/SILVER RATIO (over 64). Have y'all ever thought about this? All portfolio & investing theory & lots of economics is based on the "efficient or rational markets" assumption, that is, that markets behave rationally & efficiently because investors behave rationally. All financial media reporting presupposes that: "Investors today turned away from copper based on studies that show prolonged exposure to copper can cause warts." In fact, how many "rational" people do you know? How many do you know who even rationally pursue their own best interest? I know exactly one, and he stands out because he's the only one nearly rational & he ain't too rational around the edges. Most of mankind most of the time looks like a man hitting himself in the head with a ball peen hammer. He doesn't know WHY, he just can't stop. So the financial media look at two stories coincident in time -- copper drops, yuan drops -- and act as if investors worldwide suddenly shucked copper because the yuan dropped. I reckon this may not be rational behavior, but the "post hoc, ergo propter hoc" fallacy, namely, "it happened after this so it happened because of this." Suppose a woman gets pregnant every year during winter's coldest time. Does that prove cold weather causes pregnancy? Y'all, I'm a fool, but I'm not being silly. Markets are so huge that nobody can pinpoint a single cause for their movements. And most investors act more on emotion and tips than on reason; that's why so many lose money. That's why people buy the Japanese yen & drive it up the same day the Bank of Japan announces it will cheapen the yen further. That's why markets sway & swoon when the FOMC meets & mumbles trite and pompous platitudes it hopes will come true. Mercy, that's why people still vote Democratic & Republican after all the proof that these people mean to destroy us! Does that mean we all become obscurantists & say markets are unknowable? Nope, it means we approach them humbly as mysteries with unknown edges. After identifying long term trends, we invest in those so every twist & turn of adolescent fear & greed doesn't tie us in knots & pick our pockets. More, we pay attention to what markets are saying, even when we're not sure exactly what it imports. Copper, for instance, often tops before stock markets, and often predicts future economic activity, higher or lower. Copper hath thrice hit this $3.00 boundary since it peaked early in 2011, itself a warning other commodities would peak later that year. Usually when a market knocks on a door three times, it breaks through at the last knock, as copper appears to be doing. It rings a loud klaxon warning stock investors. Nothing deterred the rational folks swarming on Nasdaq & Nasdaq 100 today, but the Dow fell a little 11.49 (0.07%) to 16,339.76. S&P500 blew hot & cold out of both sides of its mouth by rising 0.52 or 0.03% to 1,868.15. Both are hovering above their 20 DMA, tripwire of a decline. Today's performance in the Dow in Gold & Dow in Silver shredded all notions that they might rally further. DiG plunged 1.6% to 11.92 oz (G$246.40 gold dollars) and dunked the DiG's below the 200 DMA (12.02). Other indicators are turning down. Dow in silver dropped 2.3% to 765.06 oz (S$989.17 silver dollars) and draws close to the 20 DMA (761.94 oz). Looks like the end of the upward correction. US Dollar Index lost 18 basis points or 0.23% to 79.58. It remains within the nose cone of a falling wedge, and thus the possibility of an upward reversal, but I have to ask, What is the market telling us? That it doesn't like dollars. Across the icy Atlantic, the euro rose 0.34% to $1.3908, a new high for the move. That close above resistance suggests the euro will climb to $1.4250, or higher. Yen felt peppy today, too, rising 0.23% to 97.38 c/Y100. Still below its 20 DMA, still in a downtrend. All fiat currencies issued by central banks are headed for history's dumpster. Right there among the mashed grapefruit rinds and rotting potato peels and fragrant spoiled hamburger and used Kleenexes. Gold did it today, blasting up $23.80 (1.77%) to $1,370.30. Silver beat gold, rising 2.62% (54.4 cents) to 2132.8c. Some days you just can't win. About 3 years ago we found a Jersey bull calf, Fry, descended from a great grass-fed New Zealand bull. He's never been any trouble and has faithfully done his job. This morning he was just fine when my son Wright fed the cows some hay and alfalfa, but when another son, Justin, went by after noon, he was four-hooves-up in the pasture, wildly bloated. We even went out there to make sure it wasn't some improbable cow prank, but he was dead. Stone cold dead. A veterinarian friend in another state helped put together what must have happened. Wright put out alfalfa for him, and as the biggest animal Fry must have pushed the cows away and gorged on alfalfa. But alfalfa & clover are legumes, & can cause frothy bloat in cows, tiny bubbles in the cow's stomach that won't burst, so that the animal suddenly bloats and dies. Even if someone had warned me about it -- and we knew about bloat from clover -- I wouldn't have thought that was enough alfalfa to hurt him. What you don't know CAN kill you, or your animals. "The Lord gave, the Lord hath taken away. Blessed be the name of the Lord." Argentum et aurum comparenda sunt -- -- Gold and silver must be bought. - Franklin Sanders, The Moneychanger The-MoneyChanger.com © 2014, 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 or 18 ounces of silver. or 18 ounces of silver. US $ and 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.

McEwen acknowledges central bank intervention against gold, cites GATA Posted: 12 Mar 2014 07:38 PM PDT 10:40p ET Wednesday, March 12, 2014 Dear Friend of GATA and Gold: GATA got a compliment yesterday from Goldcorp founder Rob McEwen, now CEO of McEwen Mining -- http://mcewenmining.com/ -- who seems to have become the first major mining executive to speak candidly about and to acknowledge central bank intervention against the price of gold. McEwen's comments came in response to a question during McEwen Mining's fourth-quarter and year-end financial results conference call. He was asked what he thought of the growing number of complaints about manipulation of the gold market and whether it would be good for him to complain about it to the Bank of Canada. McEwen's reply begins at the 24:07 mark in the recording archived here: http://www.gowebcasting.com/events/mcewen-mining-inc/2014/03/11/fourth-q... A slightly edited transcription is appended. CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. * * * Comments by McEwen Mining CEO Rob McEwen McEwen Mining Fourth-Quarter and Year-End Results Discussion Tuesday, March 11, 2014 As for manipulation, it has been the mandate of central banks around the world to manage their money, and they have a lot of tools at their disposal, such as the Federal Reserve's saying, "Interest rates are going to be here -- 50 or 100 basis points -- and locked there for a period of time." ... Dispatch continues below ... ADVERTISEMENT Safe and Private Allocated Bullion Storage In Singapore Given the increasing risks in financial markets, it is more important than ever to own physical bullion coins and bars and to store them in the safest vaults in the world in the safest jurisdictions in the world. Gold advocates Jim Sinclair and Marc Faber have recommended Singapore. Now, with GoldCore, you can own coins and bars in fully insured, segregated, and allocated accounts in Singapore with the ability to take delivery. Learn more by downloading GoldCore's Essential Guide To Storing Gold In Singapore: http://info.goldcore.com/essential-guide-to-storing-gold-in-singapore And for more information call Daniel or Sharon at +44 203 0869200 in the United Kingdom or at +1 302 635 1160 in the United States. Or email them at info@goldcore.com. They have all sorts of levers they can move around and one of those would be metals prices. It's quite reasonable to expect that the central banks are going to be in there trying to manage the economy of the world, and metals prices would be one of those areas. There have been a number of very good attempts -- GATA is one -- to highlight what they believe is manipulation that goes beyond the mandate of central banks. They have raised the awareness of it but that hasn't changed the habits of government. I would say the governments are thinking that they're doing it for the good of the country and they can do anything they want. I think making a comment to our central bank about it would be like pouring water on the back of a duck, unfortunately. The market will catch up with this. The Federal Reserve is saying that it is going to keep rates fixed for a period of time. Maybe they can do it in the short term but history suggests that over the intermediate and long term it's impossible to hold certain parts of the economy together in static. There are lots of dynamics out there and you're starting to see metals prices improving, and I'm quite encouraged by the firming I'm seeing in prices right now. There's a complancency in the broad market with people believing that all the issues that brought about the collapse a few years back have been dealt with, and that's far from the truth. But it's an easier thing to believe and a more pleasant way to look at the world than to look at $17 trillion-plus of debt by the United States alone and to take that out over the whole world. We still have quite a distance to go and if interest rates were to go up, the cost of servicing the debt is going to cripple governments and send shockwaves around the world. * * * Join GATA here: Mines and Money Hong Kong Hong Kong Convention and Exhibition Centre Monday-Friday, March 24-28, 2014 Hong Kong Special Administrative Region, China http://www.minesandmoney.com/hongkong/ Porter Stansberry Natural Resources Conference AT&T Performing Arts Center Margot and Bill Winspear Opera House 2403 Flora St., Dallas, Texas Saturday, May 31, 2014 http://stansberrydallas.com/ Canadian Investor Conference 2014 Vancouver Convention Centre West 1055 Canada Place, Vancouver, British Columbia Sunday and Monday, June 1 and 2, 2014 http://cambridgehouse.com/event/25/canadian-investor-conference-2014-inc... * * * 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: http://gata.org/tshirts 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: http://www.gata.org To contribute to GATA, please visit: http://www.gata.org/node/16

The case for gold right now Posted: 12 Mar 2014 07:00 PM PDT USAGold

What does Ukraine mean for the gold price? Posted: 12 Mar 2014 06:41 PM PDT The Real Asset Co

Pepe Escobar -- Ukraine , What is the big picture today? Posted: 12 Mar 2014 04:51 PM PDT Meanwhile all the gold is stolen and being used to keep US/UK/Canada/France economies from dying What is the big picture in Ukraine today? Should it be interpreted legally or politically? What is China's attitude to the conflict in Ukraine? And, has Washington blinked? The fighting between... [[ This is a content summary only. Visit http://www.GoldSilverNewsBlog.com or http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]

Mike Rivero -- All Wars are Bankers Wars & Russia will drop The US Dollar Posted: 12 Mar 2014 04:26 PM PDT What Really Happened Radio Show: Michael Rivero Wednesday March 12 2014: (Commercial Free Video) ) Michael Rivero is the webmaster of http://whatreallyhappened.com/ and host of the What Really Happened radio shows on the Republic Broadcasting Network. Formerly with NASA, Michael transitioned his... [[ This is a content summary only. Visit http://www.GoldSilverNewsBlog.com or http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]

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